"A profitable producing mineral company actively developing projects tailored to materials expected to benefit from strong future demand"

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Top 5 Investment Points

  • Profitable Producing Operation
  • Long Term Access to Stockpile
  • Strong Relationship With Stockpile Owner
  • Largely a Logistics Operation
  • Exemplary Operation Record from Experienced Staff

The Cobre operation currently sells Magnetite from a treated stockpile through the Company’s wholly owned subsidiary Southern Minerals Group LLC. Cobre is a reliable high-capacity supplier of Magnetite to industries throughout North America, in markets such as:







Coal cleaning

Paint pigment

Dense media/medium

Water jet cutting

In 2011, the Company acquired, through its wholly owned subsidiary Southern Minerals Group LLC (“SMG”), the rights to operate the Cobre magnetite stockpile in New Mexico, United States. Initially the Company sold magnetite product to export iron ore markets but due to the decline in the iron ore price has now refocused its efforts on domestic sales to customers in the United States.

The magnetite stockpile was compiled by treatment of by-product from copper mining and milling activities, with the material recovered by a magnetic separation process to produce the magnetite product now available for sale. The product has been processed through ball mills to grind the rock down to a P80 of 90 microns. The magnetite is non-hazardous and there is a full environmental permit at Cobre that enables the existing free scoop, screen and logistics operation to be undertaken.
The product is ideal for markets such as cement, fertilizer, dense media/medium, paint pigment, water jet cutting, ballast, magnets, toner, coal cleaning and landscaping. The price of magnetite product sold to these markets is not linked to iron ore prices. Detailed specification of our magnetite product is available on our subsidiary website.

The Company continually seeks to increase the value of the Cobre asset by reviewing sales opportunities including the opportunity to produce a higher value product for sale to the dense media market and other markets. Sales are at mine gate and can be subject to fluctuations associated with US activity and fuel prices
Previously, the SMG's access had been provided by an annual renewal from the mine owner.  However, in 2022, after its tenth roll over, SMG successfully negotiated a 5 year access term which expires in March 2027, although SMG anticipates a further roll over at this time.

Cash flow generated from Cobre has been instrumental in the Company being one of the few listed resources companies that does not require regular raisings to cover operating overheads and , depending on demand, can help to partially fund other development opportunities.


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Key Personnel Delivering Cobre

  Tim Klumker, President

  Mr. Klumker has lived in New Mexico for over 50 years. He was raised on a cattle ranch and has worked in the mining industry for over
  30 years,  15 of which have been in supervisory positions.

  For over 6 years, Mr. Klumker has served as the Project Superintendent for Southern Minerals Group and now as President. He has
  been key in developing and implementing many of Southern Minerals Group's Safety, Production and Services policies. In consultation
  with the mine owner, these policies, and the exemplary execution of the policies, have created a highly successful,  professionally
  managed Magnetite shipping operation at Cobre.