Kalamazoo Resources Limited
A progressive Australian gold, lithium and base metals explorer and developer.
A leading Australian exploration and development company utilising the latest technologies to identify world-class gold deposits.
ASX-listed Kalamazoo Resources (ASX: KZR) owns a portfolio of major gold assets in Tier 1 Australian mining jurisdictions including :
Kalamazoo’s multi-pronged strategy is focused on discovering the next world-class gold deposit in the Victorian Goldfields and Pilbara, Western Australia whilst simultaneously advancing its 1.44Moz JORC gold resource at the Ashburton Gold Project (‘AGP’) in the Pilbara.
In February 2024, Kalamazoo signed an option agreement with De Grey Mining (ASX: DEG) to acquire the AGP by the payment of $3m cash. De Grey was granted exclusivity for 12 months, with the right to extend for a further 6 months (‘Option Period’) to complete development studies at the AGP at its sole cost. At any stage during the Option Period, De Grey can exercise the Option and purchase the AGP for $30 million in cash and/or De Grey shares by the payment to Kalamazoo of:
- $15 million on exercise of the Option
- $15 million on the date 18 months from the exercise of the Option
Kalamazoo is also actively seeking new exploration, acquisition and joint venture opportunities.
Kalamazoo is the first certified carbon neutral junior exploration company operating in Australia under the Australian Government’s Climate Active Program.
In January 2024, Kalamazoo successfully completed the spin out of its Australian lithium projects into a new ASX-listed exploration company, Kali Metals Limited (ASX Code: KM1) via a heavily oversubscribed $15 million IPO. At the time of the Kali listing, TSX listed Karora Resources Inc (TSX: KRR) vended into Kali its highly prospective lithium mineral rights across an extensive range of projects located south of Kalgoorlie, WA.
Kalamazoo maintains 20.2% shareholding in Kali post listing and Kalamazoo shareholders were provided ongoing exposure to Kali’s exploration projects via an in-specie distribution of shares in Kali at the time of its IPO.
Information regarding Kali Metals including the IPO prospectus can be found at www.kalimetals.com.au.
