Brisbane, Australia – Australian copper producer and explorer Austral Resources Australia Ltd (ASX: AR1) (“Austral” or the “Company”) has been reinstated to trading on the Australian Securities Exchange (ASX) today following the completion of its comprehensive recapitalisation and transformation program.
The milestone marks a major step forward for Austral as it re-emerges with a robust balance sheet, a dual-hub copper production platform, and a clear growth pathway to deliver long-term sustainable copper production across Queensland’s world-class copper belt.
The Company recently completed a $40 million Placement at $0.05 per share, strongly supported by institutional, strategic and sophisticated investors. Funds will underpin the recapitalisation of Austral’s balance sheet, integration of recent acquisitions, and advancement of development and exploration programs.
Chairman David Newling said the reinstatement marked the start of a new era for Austral and its shareholders.
“Austral’s reinstatement to trading on the ASX marks the beginning of a new chapter for the Company and its shareholders. With a robust balance sheet, two world-class processing hubs, and a clear growth pathway, we are positioned to deliver sustainable copper production for decades to come.
Our focus remains on creating long-term value through responsible development, operational excellence, and the continued expansion of our regional footprint as Australia’s next mid-tier copper powerhouse.”
Austral’s dual-hub platform includes the Mount Kelly SX-EW Plant (Western Hub) with immediate oxide production capacity of 25 ktpa and the Rocklands Processing Plant (Eastern Hub) – a 3 Mtpa sulphide concentrator scheduled for restart by mid-2027. The two-asset structure provides processing flexibility for both oxide and sulphide ore and underpins a regional consolidation strategy supported by a long-term offtake agreement with Glencore.
With an enterprise value of around $85 million and more than $1 billion in replacement-value infrastructure, Austral is well positioned to deliver on its growth strategy and create sustainable shareholder value.
For more information, please visit https://www.australres.com
ENDS
About us:
About Austral Resources Australia
Austral Resources Australia Ltd (ASX:AR1) is a copper cathode producer operating in the Mt Isa region, Queensland, Australia. Its Mt Kelly copper oxide heap leach and solvent extraction electrowinning (SX-EW) plant has a nameplate capacity of 30,000tpa of copper cathode. Austral has developed its Anthill oxide copper mine, which has an Ore Reserve Estimate (ORE) of 2.87Mt at 0.94% Cu (comprising of 0.90Mt at 0.90% Cu proved ORE and 1.97Mt at 0.96% Cu Probable ORE). The Company has been producing copper cathode from mid-2022.
Austral also owns a significant copper inventory with a JORC-compliant Mineral Resource Estimate of 53.74Mt@ 0.74% Cu (comprising of 9.39Mt at 0.75% Cu Measured MRE, 33.03Mt at 0.76% Cu Indicated MRE and 11.32Mt at 0.67% Cu Inferred MRE) and 2,100km2 of highly prospective exploration tenure in the heart of the Mt Isa district, a world-class copper and base metals province. The Company is implementing an intensive exploration and development program designed to extend the life of mine, increase its resource base, and then review options to commercialise its copper resources.
Contact details:
Jane Morgan
Investor and Media Relations
M +61 405 555 618
E [email protected]
