Shree Minerals Ltd.

Description

Shree Minerals Ltd (ASX: SHH) is an Australian iron ore and gold-focused company with a vision to create value for its shareholders through exploration and development of prospects. The company is led by the mining industry veteran, Mr Sanjay Loyalka, and is headquartered at Nedlands, WA. The company trades on the Australian Securities Exchange (ASX) under the stock symbol SHH.

Shree Minerals envisions to develop an array of highly prospective gold and iron ore projects across Australia. The company owns the Nelson Bay River Iron Ore project (NBR) in northwest Tasmania. SHH developed the direct shipping ore (DSO) mining operations in 2013 and the first shipment was sent from the Port of Burnie in January 2014. The operations were later put on care and maintenance due to iron ore price decline.

The company seeks to recommence the mining operations at the NBR project. The project holds a JORC mineral resource of 11.3 million tonnes. Further, Shree has identified the potential to extend the mineral resource further over the interpreted 2.3 kilometres strike length.

Shree also owns an attractive suite of mineral projects including the Turondale and Rock Lodge gold projects in the prolific Lachlan Fold Belt. Additionally, the company owns the Fraser Dundas gold project in the renowned Boulder Lefroy Fault zone. Shree has entered into a farm-in and joint venture (JV) agreement to explore the gold and base metal prospects in the Arunta region of Northern Territory.

Shree Minerals holds a 100% stake in the Golden Chimney and Ulysses South gold projects in Western Australia. The gold projects are located in the neighbourhood of world-class mining prospects and established commercial operations, including the Sons of Gwalia gold mine, which has produced more than 4 million ounces of gold.