Auteco Minerals Limited
AUT.AX
Australian Securities Exchange0.50
AUD
-0.03
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Auteco Minerals Limited
AUT.AX
(Australian Securities Exchange)
Recent
price
0.50
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Auteco Minerals Limited Auteco Minerals Limited (ASX:AUT) operates as a mineral exploration company focused on gold, copper-gold, vanadium and titanium deposits primarily in Canada and Australia. The company holds an option to acquire up to 80% interest in the Pickle Crow Gold Project located in the Uchi sub-province of Ontario, Canada, which hosts an inferred mineral resource of 2.8 million ounces of gold at 7.2 grams per tonne; it owns 100% of the high-grade Green Bay Copper-Gold Project on the Baie Verte peninsula in Newfoundland, Canada, with an indicated and inferred mineral resource of 39.2 million tonnes at 2.1% copper equivalent for 811,000 tonnes of copper equivalent; and maintains a 90% interest with an option to acquire the remaining 10% in the Limestone Well Vanadium-Titanium Project in Western Australia. AuTECO Minerals conducts regional exploration across approximately 500 square kilometres of tenure surrounding Pickle Crow, including discovery drilling and resource expansion efforts, and targets customer bases in the mining industry including resource developers and producers. The company, founded in 2004 and headquartered in West Perth, Western Australia, previously operated as Monax Mining Limited until 2018. In October 2023, Auteco Minerals completed the acquisition of the Green Bay Copper-Gold Project from Rambler Metals and Mining Canada Limited for total consideration of AUD 68 million, comprising AUD 35 million in upfront cash, AUD 15 million in shares, and deferred payments of AUD 15 million in cash and shares within 18 months; the transaction was financed through a fully underwritten AUD 55 million two-tranche placement led by Canaccord Genuity with co-managers including Argonaut Securities, Euroz Hartleys and Shaw and Partners. In May 2023, the company announced an upgrade to the Pickle Crow inferred mineral resource from previous estimates, incorporating new drilling results. AuTECO Minerals launched exploration drilling at Green Bay in late 2023 and continues aggressive resource growth programs at both flagship projects, including a planned 40,000 metre diamond drilling campaign at Green Bay.