Sumitomo Partnership De-Risks Exploration and Accelerates Bulimba Gold Potential
Strategic Energy Resources Limited (ASX: SER) has secured a strategic joint venture with Sumitomo Metal Mining Oceania Pty Ltd over the Bulimba Gold Project in northeast Queensland, establishing a well-funded pathway for long-term exploration and development. Under the agreement, Sumitomo can earn up to an 80% interest by spending AU$6 million and completing 7,500 metres of drilling over five years, with the option to increase its stake to 90% upon completion of a Definitive Feasibility Study on a resource exceeding 1Moz gold equivalent.
A minimum AU$600,000 expenditure commitment in the first 12 months, along with reimbursement of AU$100,000 in historical costs, materially reduces SER’s near-term funding requirements. SER will retain operational control during the earn-in phase, managing the exploration programme and earning a 10% operator fee while remaining free carried. Located within a prolific gold province hosting multiple multi-million-ounce deposits, Bulimba offers significant discovery upside supported by a globally experienced mining partner.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Sumitomo Partnership De-Risks Exploration and Accelerates Bulimba Gold Potential
Strategic Energy Resources Limited (ASX: SER) has secured a strategic joint venture with Sumitomo Metal Mining Oceania Pty Ltd over the Bulimba Gold Project in northeast Queensland, establishing a well-funded pathway for long-term exploration and development. Under the agreement, Sumitomo can earn up to an 80% interest by spending AU$6 million and completing 7,500 metres of drilling over five years, with the option to increase its stake to 90% upon completion of a Definitive Feasibility Study on a resource exceeding 1Moz gold equivalent.
A minimum AU$600,000 expenditure commitment in the first 12 months, along with reimbursement of AU$100,000 in historical costs, materially reduces SER’s near-term funding requirements. SER will retain operational control during the earn-in phase, managing the exploration programme and earning a 10% operator fee while remaining free carried. Located within a prolific gold province hosting multiple multi-million-ounce deposits, Bulimba offers significant discovery upside supported by a globally experienced mining partner.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au