Strike Resources (SRK)

Shares / Stock Code

SRK

Stock Exchange / Sharemarket

Australian Securities Exchange

Strike Resources (SRK) is an exploration company with hematite and magnetite iron ore projects in Peru, hematite and minerals sands projects in Australia, and a thermal coal project in Indonesia. SRK’s projects include the Apurimac Iron Ore, the Cuzco Lump Iron Ore, the Cuzco Iron Ore, the Berau Thermal Coal and the Paulsens East Iron Ore projects. The company is rapidly accelerating the development of its Peruvian iron ore assets to take advantage of surging demand from steel mills around the world.

SRK was incorporated in Western Australia as a public company limited by shares on 3 September 1999. The company was admitted to the official List of Australian stock market (ASX) in 7 March, 2000 with activities in the internet technology sector. Following the annual general meeting of the company on the 22 December 2005, the company decided to move its operations to the resources sector, and changed to its current name in January 2006.

Strike has entered into an agreement with PT Kaltim Jaya Coal and PT Kaltim Jaya Mineral, which allows the company to commercially mine coal in Indonesia. As an explorer, Strike has no customers at present. SRK competes with uranium explorers such as Deep Yellow Limited (DYL) and coal explorers such as Gloucester Coal Limited (GCL). Markets for both these commodities are global, and SRK would ultimately be subject to international competition.

The Apurimac Project comprises 72 concessions totaling 59,000 hectares located 16 kilometers from Andahuaylas. The Cuzco Project includes 23 concessions totaling 17,963 hectares is located130 kilometers south-east of the Apurimac Project area. The Berau Project is located 40 kilometers south-west of Tanjungredeb (Berau).

The Paulsens project tenements are located approximately 140 kilometers west of Tom Price. On 11 August 2008, the Company purchased a 70% interest in the Indonesian Berau Coal Project and 25% interest in the West Australian Paulsens East Iron Ore Project from Orion Equities Limited (Orion).

Cuzco Project

This project comprises 23 concessions totalling 17,963 hectares located 130 kilometres south-east of the Apurimac Project area and 80 kilometres south of the city of Cuzco. Two small towns, Santa Tomas and Colquemarca, are located within a few kilometres of the project area.

As a consequence of the recent settlement with D&C Group and MAPSA (Positive Settlement of Disputes in Peru), Strike Resources Limited is currently undertaking a review of its objectives, plans and timetable with respect to the exploration and development of the Apurimac and Cuzco Iron Ore Projects.

Strike Resources (SRK) Products and Services

  • Exploration company with hematite and magnetite iron ore projects in Peru, hematite and minerals sands projects in Australia, and a thermal coal project in Indonesia.

Strike Resources (SRK) Locations and Subsidiaries

Strike Resources Head Office
Level 8, The Forrest Centre, 221 St George's Terrace,
PERTH, WA, AUSTRALIA, 6000
Phone: (08) 9214 9700
Fax: (08) 9322 1515

Strike Resources (SRK) Share Price

Submitted by ASX Listed Company on 3 June, 2010 - 16:17