Breakaway Resources (BRW)

Shares / Stock Code

BRW

Stock Exchange / Sharemarket

Australian Securities Exchange

Breakaway Resources (BRW) could be thought of as the exploration arm of the highly successful LionOre. LionOre holds a 19.8% interest in BRW. BRW purchased tenements from LionOre, which hugely expanded the former's asset base, giving BRW strategic positions in the Eastern Goldfields and East Kimberley. BRW also owns a 30% net profit royalty from QLD's Eloise copper mine, operated by Barminco. Drill results from the 100%-owned Altia prospect near Eloise have produced results worthy of intense exploration effort. It operates in the natural resources exploration and mining industry. The Company is principally engaged in exploration for gold, nickel and copper. The Company’s projects include Bungalbin Gold Project, East Kimberley Project, Kambalda West Project, Miranda Nickel Project and Scotia Nickel Project. The Scotia Nickel Project is located 65 kilometers north of Kalgoorlie in Western Australia. The Bungalbin Project consists of a granted mining lease located approximately 100 kilometers north of Southern Cross.

The company has secured a very strong project portfolio and senior management from LionOre Australia Pty Ltd. The project assets have multiple potential company maker targets/prospects. The acquisitions places the company in a very strong competitive position with substantial "blue sky" to accelerate its growth in nickel exploration in future years. Competitors with BRW for exploitable gold and nickel reserves include Arafura Resources NL (ARU) and Aquila Resources Limited (AQA). Markets for gold, copper and nickel are global, and BRW would ultimately be subject to international competition. Its major customers include wholesalers, the retail sector, both in Australia and overseas.

Breakaway Resources History

The deal with LionOre was a win-win for both parties. Core members of LionOre’s exploration team joined BRW, including the former director of exploration and geology, Peter Buck, who assumed the position of MD. Peter led a team of geoscientists who discovered three nickel and one gold deposit. BRW has a good technical team and also has access to LionOre’s expertise. BRW has an enviable portfolio of nickel prospects, which will enable it to move forward.

Breakaway Resources (BRW) Products and Services

  • Mineral exploration and development for nickel, gold and copper

Breakaway Resources (BRW) Locations and Subsidiaries

Breakaway Resources Head Office
23 Ventnor Avenue, Level 2,
WEST PERTH, WA 6005

Phone: 08 9278 6444
Fax: 08 9278 6449

Breakaway Resources (BRW) Share Price

Submitted by ASX Listed Company on 3 March, 2010 - 22:31