The Company and its wholly owned subsidiaries also continue to maintain the following projects, all of which are located in New South Wales, Australia:
- Conrad Project (silver/polymetallic); and
- Webbs Project (silver/polymetallic);
- Tuena Project (gold/silver).
The Conrad polymetallic project is located near Inverell, New South Wales. The tenements include three mining leases (MLs 5992, 6040 and 6041), one four unit EPL (EPL 1050) and one exploration licence (EL 5977). (See attached Information Memorandum).
The Webbs polymetallic project (EL 5674) is located near Glen Innes in the New England region of northern New South Wales. (See attached Information Memorandum).
Conrad and Webbs are 100% held by the Company and both contain high grade silver and polymetallic resources.
The Company also holds 100% of EL8526, being the Tuena Project. The Tuena Project tenement is located in the south of Orange, New South Wales and the area is targeted for precious metals.
Conrad, Webbs and Tuena are non-core assets to the Company, as such, a divestment strategy for these projects is being considered.