Karawara Minerals is a near production Dense Media Separation magnetite (DMS) mine and critical minerals exploration company with a prospective suite of critical minerals projects located in New South Wales. Anticipated long term cash flow from the Broula DMS Mine will fund exploration and development to build a portfolio of high-quality critical minerals projects.
The Broula DMS Mine first entered production in 2008 selling a proven magnetite product used by local collieries in the coal washing process (DMS) along with direct shipping ore magnetite (DSO) to local steel companies. The Company plans to restart the Broula DMS mine within 12 months of funding and will produce DMS, DSO and limestone.
Karawara Minerals also has two exploration projects. The Mulholland Project is on the northern margin of the Lachlan Orogen in New South Wales and rare earth elements have been identified on a neighbouring tenement, with key source rocks mapped onto the Mulholland tenement. The Bumbaldry Project is contiguous to the Broula DMS Mine and high grade copper and gold have been previously been mined. The Company has detailed exploration plans for both projects, which will advance previous exploration results and deliver exploration success.
The Company will also seek to acquire additional high quality critical minerals projects which can be explored and developed using revenues generated from the Broula DMS Mine.
The Karawara Minerals leadership team has extensive experience in recommencing mines similar to the Broula DMS Mine and delivering exploration success. The Company is planning to complete an IPO and list on ASX by Q1 2024.