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Regal Resources Limited (RER)
is a publicly listed company on the Australian Securities Exchange (ASX).
About Regal Resources Limited
Regal Resources Limited (ASX:RER) is a copper and gold explorer with its flagship Kalongwe Project located in the prolific Katanga Belt in the Democratic Republic of the Congo (DRC) in Central Africa, an area known to host world class copper and cobalt deposits.
The Company maintains an interest in a group of exploration permits covering over 1,970km² (+ Kalongwe kms) of landholding across the DRC, comprising the Kalongwe high grade copper project and the South Kivu gold project.
Regal Resources is committed to actively exploring in the DRC and is focused on developing standalone high-grade copper and gold projects.
The management of Regal Resources is committed in their efforts to maximise potential opportunities and to deliver value to shareholders, through the acquisition, exploration and responsible development of mineral projects. The Company is led by an experienced team with a proven track record of exploration and development success in the DRC.
The DRC is endowed with vast natural resources wealth and the country is recovering after decades of decline following corruption since independence in 1960 and instability and conflict, which began in the 1990s.
Upon the installation of a transitional government in 2003, economic conditions have steadily improved as the government recommenced relationships with international financial institutions and donors.
In 2012, the DRC updated its business laws to adhere to the Organization for the Harmonization of Business Law in Africa (OHADA) and the country marked its tenth consecutive year of positive economic expansion.
Regal Resources' flagship Kalongwe Project is situated some 60km south west of established mining centre, Kolwezi, in the Province of Katanga, at the western end of the Central African Copper Belt (CACB), where the majority of foreign mining investment in the DRC is concentrated.
The CACB is one of the most significant copper producing regions in the world, accounting for an estimated 8% of the global copper mining production. The CACB is estimated to contain 50% of the copper known to exist in sediment hosted copper deposits.
The Katanga Belt (the extension of the CACB which runs through the DRC) is approximately 70km wide and 250km long between Lubumbashi and Kolwezi. There are over 70 copper / cobalt deposits known within the CABC, including some of the highest grade copper deposits in the world, with some averaging grades in excess of 5% copper. Much of the CABC is yet to be explored utilising modern technology, so there is huge potential for further discoveries.
Mineralisation at Kalongwe was first noted in 1902, when secondary copper mineralisation was observed in outcrop. However, very little exploration was undertaken until 2005 when the project was acquired by a subsidiary of Ivanhoe Mines Ltd. It was during this time that Ivanhoe commenced delineating the substantial Kamoa Copper Deposit, located 15km north of Kalongwe.
Kamoa is currently rated as Africa's largest high grade copper discovery and the world's largest undeveloped high grade copper discovery with the Indicated Mineral Resource of 739 Mt @ 2.67% copper for a contained 43.4 billion pounds copper.
In November 2013, Regal Resources achieved a major strategic objective through entering into an agreement with Traxys Europe SA (Traxys) to acquire the advanced Kalongwe Copper-Cobalt Project, located in the Katanga Province of the DRC.
The Kalongwe Project is covered by permit PR 12198 held by Kalongwe Mining SA a DRC registered company. Shares in Kalongwe Mining are currently owned by GICC who hold a 40% interest and by Traxys and Regal, who each have a 30% interest. Regal Resources and Traxys maintain the right to acquire a further 20% interest.
Importantly for Regal Resources, funding for the acquisition, exploration and feasibility studies is shared on a 50/50 basis with Traxys which significantly de-risks the development of the Kalongwe Project. Traxys is a leading international commodities trader and globally recognised leader in financing, marketing, distribution and financial services for the mining, metals and minerals industries respectively.
The Kalongwe Project is located within the world-class Central African Copper Belt, 60km from the established mining centre of Kolwezi in the Katanga Province of DRC. Kalongwe is located only 15km from Africa's largest high grade copper discovery, Kamoa, which boasts an Indicated Mineral Resource of 739 million tonnes grading 2.67% Cu.
Kalongwe has significant exploration upside, with previous drilling and exploration activities demonstrating the potential for the project to host a resource of several hundred thousand tonnes of copper metal. The Kalongwe fragment was explored by a fifty four (54) hole diamond drilling programme of approximately 10,000m by Ivanhoe Mines over the period 2006 to 2007.
Regal Resources Limited
11 Ventnor Avenue
West Perth, WA
+61 8 6355 6888