Business Description

The principal activity of the Company is the acquisition, exploration and development of mineral projects, primarily in the western USA.

Our strategy is to develop the CS Pozzolan-Perlite Project through to profitable production in order that the Company’s activities become self-funding and to unlock the value inherent in its portfolio mineral projects through sale, joint venture or other arrangements.

The Company’s Business Model is to acquire 100% ownership of mineral assets at minimal expense. This usually involves staking claims as was the case for the CS and NewPerl Projects or applying for exploration licences from the relevant authority, as was the case in Australia. In other cases, rights are negotiated with existing project owners for initially low periodic payments that rise over time as confidence in the project value increases and this was the case for the Bay State Silver Project.

The Group currently operates with a low-cost base to maximise the funds that can be spent on value adding exploration and development activities. The Company’s administration costs are reduced via a cost sharing Management Services Agreement with Tertiary Minerals plc.