- QLD copper player Revolver Resources will debut on the ASX later this month under the ticker code ‘RRR’
- The private enterprise is making the move to the public register with two wholly owned copper projects
- The projects are the historical Dianne Copper Mine — which hasn’t produced since the early 1980s or been explored using modern techniques — and Project Osprey, which is in the North West Minerals Province south of Burketown
- Revolver Resources raised $12.7 million with 20-cent shares through the IPO process
- The company is scheduled to list on September 23
QLD copper player Revolver Resources will debut on the ASX later this month under the ticker code ‘RRR’.
The private enterprise is making the move the public register with two wholly owned copper projects.
The Dianne Copper Mine, which the company secured in 2019, historically produced some of the country’s highest-grade copper, but mining was discontinued in the early 1980s because copper prices were low. It has not been explored using modern techniques.
Revolver’s Managing Director, mining veteran Pat Williams, said the project already has been granted mining leases.
“We don’t really know the full extent of the size of the remaining ore body… we don’t know how it extends or repeats or continues, it hasn’t been tested at depth,” Mr Williams said.
“There hasn’t been deployment of any really modern or systematic exploration in the entire region, so that sits in front of us.
“The opportunities are abundant for us.”
The company will also proceed with work at Project Osprey, south of Burketown, which it secured in 2015 and is in the north west minerals region of Queensland.
“We’ve got a drill coming down the road at the Dianne Project right now so we will be straight onto the ground by the end of October and intend to work all the way until rain prevents us from working,” Mr Williams said.
Revolver Resources raised $12.7 million with 20-cent shares through the IPO process, money which Mr Williams claims will fund operations for about two years.
“The money allows us to work both projects in Parallel,” he said.
“We really believe that we’re at that stage where our assets are on the cusp of some very great value improvement opportunities.”