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Cauldron Energy (ASX:CXU)- Non Executive Chairman, Simon Youds - The Market Herald
Non Executive Chairman, Simon Youds
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  • Cauldron Energy (CXU) has signed a one-year concrete plant site lease with the area's Traditional Owners, the Buurabalayji Thalanyji Aboriginal Corporation (BTAC)
  • The lease is near the Onslow Agility Port in the Pilbara region of Western Australia
  • The mobile concrete batching plant is majority-owned by a BTAC subsidiary and has not been in operation for several years
  • On the market today, Cauldron is in the grey and trading at 3.8 cents per share

Cauldron Energy (CXU) has signed a one-year concrete plant site lease with the area's Traditional Owners, the Buurabalayji Thalanyji Aboriginal Corporation (BTAC).

The lease is near the Onslow Agility Port in the Pilbara region of Western Australia.

The mobile concrete batching plant is majority owned by a BTAC subsidiary. Notably, this plant has not been in operation for several years.

Cauldron plans to extend this relationship further by entering an agreement to lease the concrete batching plant directly from the BTAC subsidiary and re-commission the plant to supply concrete into the local community and potentially into a number of upcoming projects in the Pilbara region.

"Having been active in the region since 2005 and developed many trusted relationships, we see this partnership as the start of a mutually beneficial and strategic presence in Onslow," CEO Jess Oram said.

"And one which could springboard Cauldron into other opportunities in this promising region which is growing at a sensible and managed rate guided by BTAC and the Shire of Ashburton," he added.

During the previous quarter, Cauldron announced the acquisition of a number of river sand leases located at the mouths of the Carnarvon, Onslow and Derby rivers in Western Australia, collectively covering an area of about 286 kilometres.

On the market today, Cauldron is in the grey and trading at 3.8 cents per share at 2:51 pm AEST.

CXU by the numbers
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