Taruga Minerals

Website: tarugaminerals.com.au
Primary ticker: ASX:TAR
Stage of development: Exploration
Primary minerals: Cobalt, Copper
Project to promote: Kamilombe and Mwilu

Live financials

Taruga Minerals Limited is an exploration company listed on the Australian Securities Exchange (ASX). Taruga is focused on acquiring and developing key commodities required for Electric Vehicle (EV) Batteries, including Cobalt, Copper and Lithium in the Democratic Republic of Congo (DRC) and Australia.

Taruga recently completed technical due diligence drilling on two high grade, advanced Cobalt-Copper projects, Kamilombe and Mwilu, in the Kolwezi Klippe, and is continuing to review and evaluate other opportunities prospective for Cobalt, Copper and Lithium in the DRC.

Taruga’s highly experienced Management team led by Mark Gasson and key advisor, Klaus Eckhof, have Taruga well positioned to become a substantial player in the Cobalt industry of the DRC and in the global EV Battery sector.

Management Profile

Mark Gasson – Executive Director

Mr Gasson is a geologist with 33 years of experience and has been active in the DRC since 2004 in gold and base metals exploration and resource development. Mr Gasson was instrumental in the discovery of Tiger Resources 1 million tonnes Kipoi copper deposit, 250,000 tons of high grade tin (4% Sn) at Alphamin’s Bisie deposit and 2Moz of gold at Amani’s Giro Project.


Sheena Eckhof – Executive Director – Investor Relations

Miss Eckhof holds a Bachelor of Commerce degree, majoring in Corporate and Investment Finance, from the University of Western Australia. She previously worked as Investor Relations Officer for Independence Group NL, a mid-cap West Australian nickel mining company. She has also gained extensive experience with two globally renowned Investment Banks, with a specific focus on the resources sector.


What is your rationale for attending 121 Mining Investment?

1. Increase the Company’s exposure to international investors who will be committed to Taruga’s long-term strategy
2. Identify key potential partners in the emerging battery metals market
3. Discuss potential future off-take arrangements with end users

What recent news would you like to highlight to investors attending?

1. High Grade Cobalt and Copper Results at Kamilombe Project (Announced 30 July 2018)
2. Further High Grade Cobalt Results At Kamilombe Project (Announced 31 August 2018)
3. Mwilu drilling results (Announced 14 September 2018)

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Conclude JV agreements with respect to Kamilombe and Mwilu projects

6 Months:

Undertake follow-up drilling at Kamilombe and Mwilu projects, explore early stage mining operations at both projects and consider potential off-take opportunities

12 Months:

Announce maiden JORC compliant cobalt resource

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

It is widely known that operating in the DRC has its challenges, however the Management and Consulting team at Taruga has a successful track-record of operating within the DRC from exploration to production.

Volatility in the commodities market is another key risk, however Taruga Management believe that the emerging EV thematic will continue to drive strong demand for Cobalt in a currently under supplied and tightly held market. Cobalt is the commodity which could hold back the growth in EVs given its importance in the chemistry of EV Batteries.

In a sentence, what do you think makes your company such a compelling investment?

Taruga’s Kamilombe and Mwilu projects show strong potential to become high grade, sizeable Cobalt mines, are located close to infrastructure and demonstrate the possibility to enter early stage production to benefit from the current Cobalt market.