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Minotaur Exploration Ltd (ASX:MEP) company profile - part 2

Minotaur Exploration Ltd (ASX: MEP) is a mineral resource company with a portfolio of exploration and development projects and a 50% interest in a new technology venture.

MetalProjectStateOwners
Eloise JVQldOZL 70% MEP 30%
Copper - GoldJericho JVQldOZL 80%, MEP 20%
Breena Plains JVQldSFR 100%, OZL/MEP to earn up to 75%
Peake & DenisonSAMEP 100%
HighlandsQldMEP 100%
Base MetalsWindsorQldMEP 100%
Industrial MineralsGreat White Kaolin JVSAADN 51%, MEP 49% ADN earning 75%


Halloysite Research & Development

Natural Nanotech Pty LtdADN 50%, MEP 50%


Rationale: The JVs aim at delineating one or more deposits similar to the Eloise/Jericho deposits to warrant development of new mines and a new processing plant: the Cloncurry Minerals Hub

For MEP: 

  1. Attract top tier farm-in partners
  2. Minimise equity dilution
  3. Reduce exploration risks
  4. Maintaining exposure to both exploration and development success

For OZL: growth through farm-in into new assets with:

  1. Tier-one jurisdiction.
  2. Long life. 
  3. Expected good profitability

Overall:

  • No cash burn for MEP, but still significant exploration expenditure: $9.1 million in FY2019, $3.7 million in FY2020
  • OZL has a strong balance sheet to finance both the exploration expenditure and the development capital
  • OZL has the expertise and successful track record to develop and operate mining projects




 

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