- Shree, a pioneer of Iron Ore DSO operations in Tasmania, seeks environmental clearance to resume activities at the Nelson Bay.
- Led by strong management, Shree is committed to grow towards commercial success at Nelson Bay and other key projects.
- Renowned management holds experience across the mineral project value chain alongside substantial capital raising exposure.
Shree Minerals Limited (ASX:SHH), an experienced and diversified developer and explorer, has been progressing towards the commencement of mining of iron ore and dense media magnetite at the flagship Nelson Bay River Project in Tasmania. Additionally, Shree minerals hold interests in the prospective gold exploration at its Golden Chimney Project in Western Australia.
The recent surge in the Iron Ore prices has strengthened the potential for the Nelson Bay River Project. An environmental permit from the Tasmanian EPA is awaited to proceed to the mining activities.
Shree’s Nelson Bay in Tasmania (L) and Golden Chimney in WA (R)
Recently, Shree Minerals formed a farm-in and joint venture agreement with Territory Lithium Pty Limited to explore Lithium tenements at the Edwards Creek, Box Hole and Bruce Gold projects in the Northern Territory. Under the agreement, Shree reserves the right to earn up to 100% upon achievement of several exploration milestones.
Experienced Management with skin in the Game
The management at Shree remains committed to the recommencement of Nelson Bay operations. The management team led by Mr Sanjay Loyalka diversified and further expanded the portfolio to Gold and Copper project.
With the support of the management and the investors, SHH successfully unveiled the direct shipping iron ore operations at Nelson Bay in Tasmania, a unique commercial milestone motivating other such ventures contributing to the community and the region.
Let’s get acquainted with the strong management team at Shree-
Mr Sanjay Loyalka, an honored member of the Executive Council of Chamber of Minerals & Energy (WA) during 2005 & 2006, is the founder chairman of Shree Minerals Ltd. Mr Loyalka is a seasoned professional with extensive experience in various functional roles including chief executive officer (CEO), general management and critical corporate finance experience manufacturing, logistics and mining and metals domains.
An investment advisory firm, IACG Pty Ltd in Australia was also founded by Mr Loyalka. IACG specialised in commodity trading business, mergers & acquisitions, and strategy consulting services which also facilitated the purchase of a Hard-Coking mine in Australia by Gujarat NRE Coke Ltd.
Prior to Shree, Mr Loyalka served as the founding CEO & Managing Director of the Indian multinational conglomerate Aditya Birla Group’s Australian operations. Under his leadership, the Nifty and Mount Gordon copper mines were acquired. He helped in successfully developing the Nifty mining operations which have a mega 2.5 million tonnes underground mining operations with associated infrastructure including a Power plant, Gas spur pipeline, and port handling facilities, and in the operational restructuring of Mount Gordon Copper operations. These developments were reflected by the successful listing of the company on the ASX with an IPO of A$300 million value and included in the ASX S&P 300 index.
Mr Amu Shah serves as the Director of Shree Minerals since 2011. Mr Shah holds extensive local and international experience as a management professional across various industries and is also appointed as an Honorary Consul for Kenya in Perth. He is a director and an investor in retail trade; to owning, managing, and developing properties across mining and manufacturing sectors; and distributor of office and stationery products.
Mr Davide Bosio holds vast professional experience spanning over 18 years in the stockbroking industry, providing corporate services to publicly traded firms. He holds extensive exposure in assisting listed firms in affairs relating to capital raisings and mergers and acquisitions.
He also serves as the CEO and Managing Director of one of Western Australia’s oldest stockbroker, DJ Carmichael Pty Limited and the WA state management and Director of Corporate Finance at Shaw and Partners Limited. He also holds a directorship position at Connected IO Limited (ASX:CIO).
The management team at SHH holds a strong experience of developing a minerals project, securing capital and growing into a mid-tier mining company. The strong ethos of Shree for continuous growth in portfolio and towards the development of the projects may drive future commercial stints.
Shree traded at A$0.006 a share on 24 July 2020, with a market capitalisation of A$3.65 million.