Welcome
Goldsearch Limited is an Australian public company listed on the Australian Stock Exchange Limited (ASX Code GSE).
Goldsearch is a mineral exploration company focussed on the identification, discovery and development of mineral assets for the benefit of shareholders and local communities. Goldsearch has adopted the best practices with regards to occupational health and safety, environmental and community relations.
Goldsearch is currently involved in exploration projects targeting precious and base metals and rare earth elements (REE) in eastern Australia and Sweden. Through our major shareholding in Musgrave Minerals Limited, Goldsearch has exposure to a huge, underexplored tenement package with known nickel sulfide, copper-gold and rare earth element mineralisation within the Musgrave Ranges of northwest South Australia.
Over recent years Goldsearch has built a significant portfolio of equity investments. These investments have been accumulated either through the sale or joint venture of exploration properties in return for shares or share options or alternatively through outright purchase of shares or share options. The strong performance of this portfolio provides an ongoing source of funding for continued exploration efforts.
Major Developments
As at 01 May 2011
Mary Kathleen Joint Venture with Chinalco Yunnan Copper Australia (CYU)
- Chinalco Yunnan Copper Australia has defined significant copper-cobalt-rare-earth-element ± uranium mineralisation at the Elaine Dorothy resource and Mount Dorothy Prospect in northwest Queensland. A maiden copper-cobalt-REE resource for Mount Dorothy is expected in December 2011.
Musgrave Minerals Limited (MGV)
- Goldsearch holds 7.2% of Musgrave Minerals which listed on 29 April 2011 following an oversubscribed IPO which raised $20 million. Fieldwork commencing in May includes drilling of 15 drill ready nickel and copper-gold targets.
Sweden - Bergslagen Joint Venture with Tumi Resources (TSXV-TM)
- Follow-up ground IP geophysics set to commence Hällefors and Jugansbo in May 2011
Investments
- Independence Group NL (IGO). Current market capitalization of AUD$1.2 billion, successfully mining nickel at the Long Victor Mine, hold 30% of the developing Tropicana gold project and recently acquired Jabiru Metals Limited.
- Chinalco Yunnan Copper Australia Limited (CYU). Completed a AUD$13m capital raising in April 2011, the funds of which will be used to advance numerous projects in Australia, Chile, China and Laos.
- Morning Star Gold NL (MCO). Mining has commenced at Maxwell’s Reef with the Morningstar Gold Mine at Woods Point Victoria, with the first gold poured in April 2011.
- Queensland Mining Corporation Limited (QMN). Developing substantial copper, cobalt and gold resources in the Cloncurry region of northwest Queensland.
