The IPO has been successfully completed and the target subscription of $8M has been achieved.
We are using the funds raised to:
- fund acquisition of ground geophysical data from selected targets on the company’s exploration tenements;
- fund exploration drilling of our exploration tenements; and
- meet ongoing administrative costs and provide working capital.
- The company deploys tightly targetted geophysical exploration techniques to improve the probability of discovery and development success.
- Our technical relationship with geological consultants Kenex is a partnership that sets us apart.
- The game-changing targeting methods and big data analysis pioneered by Kenex were used to acquire Duke’s projects which ground surveys and drilling have since confirmed as exciting prospects at Bundarra.
- The company’s five projects are led by our flagship Bundarra Project in mining-friendly central Queensland, which presents a near-term mine development opportunity.
- All our projects are at a stage where drilling can start immediately and provide a continuous news flow of value-adding results in the first year after the company lists.
The historic Mt Flora mine that is part of the Bundarra Project was Australia’s highest grade copper project in the 1800s. Recent drilling and advanced ground surveys have identified five “drill-ready” targets. An exploration target is detailed in the Independent Geological Report (IGR) Pg28, Table 2.5.
Duke Exploration’s leadership will be key to the company’s success.
Our Board and Management Team brings together a wealth of mining, legal and financial experience, and has the relationships and technical capability required to successfully develop and commercialise our current portfolio of high-quality assets as well as other opportunities that arise.
Together, we combine to create a strong governance and management team that covers the full mining spectrum from exploration, development, operations and mine closures.
With gold, copper and silver prices at historic highs, there is momentum in the equity market for near-term mining development opportunities exposed to these metals. Meanwhile, the world’s electrification is increasing the demand for copper, a major component of batteries and electrical wiring.
Recent research by the International Copper Association found that China’s Belt and Road Initiative is likely to increase demand for copper in over 60 Eurasian countries to 6.5 million tonnes by 2027, a 22% increase from 2017 levels, which we believe will result in the current metal prices being sustained into the future.