Terramin reviews gold's place in company portfolio
PERTH (miningweekly.com) – ASX-listed metals developer Terramin Australia is undertaking a strategic review of its asset, with the company telling shareholders that the review could result in the demerger of its gold assets from its base metals business.
The company said on Wednesday that the strategic review will include its preproduction assets, exploration activities and cost structures in order to optimise Terramin’s ability to deliver on its 2018 and long-term goals.
“The permitting of Terramin’s strategic, long life zinc asset in Tala Hamza will continue to be Terramin’s number one focus in 2018. It is important that the company is best placed to move quickly when approved,” said CEO Richard Taylor.
“Terramin’s prospective gold assets in South Australia are also reaching an important phase and the strategic review is designed to settle on an approach that will best suit the development of both projects.”
Taylor said that the company would be guided by the experience of several successful demergers in recent years, of businesses that combined base or industrial minerals with precious metals.
As a standalone South Australian gold company, Terramin’s gold assets could be substantial in their own right, he added. The company holds around 12 000 km2 of exploration area in South Australia, hosting an existing resource of 252 000 oz and a one-million-ounce exploration target.
In addition to investigating options for the gold assets, the review will also focus on reducing Terramin’s cost base and refocusing expenditure on delivering on the company’s new strategy.
The review will be completed in August.
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