MALACHITE is an ASX listed Australian resources company whose primary aim is to create shareholder wealth by the discovery or acquisition of gold, silver, copper and tin ore deposits and their subsequent development and operation as profitable mines.
The company's strategy is to maintain its focus both geographically and in terms of its core commodities. While gold and silver have the highest priority, it is well known that in eastern Australia copper commonly occurs with gold, or in the same area as gold, and tin is commonly associated with silver deposits, both directly and indirectly. It is these strong associations that allow focus to be maintained while providing shareholders with exposure to a diversity of high value metals.
When the Company listed on the ASX in November 2002 it was purely an exploration play, focused on the steepest part of the mining industry value curve – the discovery phase. Since then, Malachite has committed itself to making the transition from successful explorer to emerging miner by seeking to develop a gold mine.
The company's aspirations as a gold miner seem most likely to be fulfilled first by the development of its high grade Lorena Gold Project, which is located in northwest Queensland.