Since acquiring an 80% interest in the Whim Creek Project, from Develop Global Limited (ASX:DVP) in 2020, our strategy has been to fast-track the re-start of copper and base metal production at the site, utilising smart technology to realise processing efficiencies and reduce development capex. The company has completed a DFS, demonstrating robust metrics, and we have secured final regulatory approvals to commence mining operations. The team has, in parallel to the Whim Creek development, been working on a Pilbara consolidation strategy. The strategy includes the development of a processing hub at Whim Creek capable of treating more than 20ktpa copper (eq) from our own deposits and other regional assets.
Geoff Laing – Managing Director
Chemical Engineer, with 30 years in mining and project development in operations design and corporate roles. He has been involved in the exploration and junior mining sector for the last fifteen years in corporate and advisory roles. A key player in the Exco Resources divestment of a substantial copper asset for $175M to Xstrata Copper and as MD delivered the successful takeover of the company by WH Sol Pattinson.
Phil Warren – Non Executive Director
Chartered Accountant with over 25 years experience in board governance, corporate advisory and capital raising advice. Phil has spent a number of years working overseas for major international investment banks. Phil is currently a Non-Executive Director of ASX Listed companies Family Zone Cyber Safety Limited, Narryer Metals Ltd, Killi Resource Ltd and Rent.com.au Limited and was a founding director of Cassini Resources Ltd, which was subsequently acquired by Oz Minerals.
Jenine Owen – Chief Financial Officer
Jenine joined Anax in 2020, where she is responsible for corporate risk management, financial management and financial reporting. She is a Chartered Accountant with extensive finance and commercial experience, including several CFO roles in ASX listed entities. Having started her career with Deloitte (Zimbabwe) in the External Assurance division, she moved to London in 1999 where she held various Finance and Governance roles before settling in Australia in 2008. Prior to joining Anax, Ms Owen was CFO at Predictive Discovery Limited (ASX:PDI).
Andrew McDonald – General Manager
Andrew is a geologist with over 20 years’ experience in project management, project development, resource geology and exploration across multiple commodities. Andrew has worked for numerous ASX-listed mining companies, and in recent roles has been responsible for project development and regulatory approvals for mining projects located in Australia and in the United States.
10 April 2024 Whim Creek Projection Hub for multiple Pilbara Projects
28 March 2024 Develop and Anax Joint Study of Processing Sulphur Springs High Grade Oxide Ore Through Whim Creek
11 September 2023 Whim Creek Heap Leach Scoping Study
1 August 2023 – Whim Creek Project Mining approved
3 April 2023 – Whim Creek Definitive Feasibility Study
3 Months:
Ongoing news flow on the Sulphur Springs Study
Project Debt funding update
Consolidation transaction
Resource extension drilling at Evelyn
12 Months:
Commencement of construction
1. Securing attractive funding for the development of Whim Creek:
Interacting with a range of potential funding partners
Considering a range of funding products options
Providing the market a comprehensive understanding of the project/company potential
2. Building the development (construction) and operating teams:
Partnering with construction and mining companies that are able to deliver established teams
– Potential for near term copper production in Tier-1 Western Australia mining location
– Robust production and economic metrics
• 55ktpa concentrate production (DFS) + 2.5ktpa Cathode + 7.5ktpa ZnSO4 (Bioleaching Scoping study)
• Free cashflow of A$410M; NPV7 of A$270M, IRR of 55%
– Significant growth potential:
• Resource growth potential at Evelyn and Salt Creek
• Existing and planned infrastructure ideally suited for regional base metals processing hub – targeting 20-30ktpa production
• Multi-commodity exploration upside – 60km from the Andover Lithium Project (Azure Minerals) and on doorstep of 8.5moz Au Hemi deposit (De Grey Mining)
• Strong long-term fundamentals for key commodities (copper, zinc, lead, gold)
– Solid ESG credentials – ore-sorting, bioleaching, recycling of barren waste
– Poised for swift progress to operations:
• Debt funding and offtake discussions currently underway with trading groups
• Strong operations and corporate team in place
• Supportive Joint Venture partner in Develop Global Ltd (ASX:DVP)
1. Near term (18 months from FID) copper production from the Pilbara region of Western Australia
2. Regional hub with potential for 20-30ktpa Cu eq production
3. Robust project with infrastructure in place delivering $400M in free cash