logo-loader
viewXanadu Mines Ltd

Xanadu Mines moves to expand copper resources as global supply shortfall threatens

Managing director of Xanadu Mines Ltd (ASX:XAM) Dr Andrew Stewart speaks to Proactive Investors about the company’s flagship Kharmagtai copper and gold project in Mongolia, as results from the first hole of an aggressive new drilling program reinforce the potential for a significant expansion of the JORC resource.

Xanadu is looking for a resource upgrade before the end of 2018, to be followed immediately by scoping and feasibility studies. The Zaraa discovery comes at a time that global consumers are searching for projects to fulfil future demand for copper, which is set to increase with the proliferation of electric vehicles.

“What really excites us and what drives our strategy is the fact that there has been very little exploration over the last decade. When you look globally you can count the amount of discoveries in this space on one hand... I think the real excitement and what we need to be looking for in the industry is where those new discoveries are going to come from to replace the existing projects,” says Stewart.

Quick facts: Xanadu Mines Ltd

Price: 0.037 AUD

ASX:XAM
Market: ASX
Market Cap: $26.38 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Xanadu Mines Ltd named herein, including the promotion by the Company of Xanadu Mines Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Xanadu Mines boosts flagship Kharmagtai project in Mongolia...

Xanadu Mines Ltd (ASX:XAM) (TSE:XAM) chief executive officer and managing director Dr Andrew Stewart tells Proactive about the increasing oxide gold being found following a recent scoping study at the company’s flagship Kharmagtai Copper-Gold Project in Mongolia. Dr Stewart says the top of...

on 4/9/19

2 min read