Business
Year End Corporate Update
Year End Corporate Update.
About this update from Tamar Minerals Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n8 August 2023\nTECTONIC GOLD PLC\n(“Tectonic” or the “Company”)\n \nYear end corporate update\n \nTectonic Gold plc (TDIM: TTAU, is pleased to provide an update on key corporate and operational developments including funding from the Australian Government, partnering with a leading Australian mining group on the ongoing development of the Specimen Hill gold project and an engagement to lead commercialisation of a major gold portfolio in Ghana.\n \nHighlights: \n \n\nReceipt of R&D funds from Australian Government\nFarm-out of Specimen Hill copper/gold project \nCommercialisation of privately held gold portfolio in the Ashanti Gold Belt \nRare earths outcome in Heavy Mineral Sands(“HMS”) joint venture \nTectonics’ strategy is to build participation in projects through a transfer of its IP, technology and expertise without having to internally fund project development. Farming out Specimen Hill at the completion of the research program, coupled with an expert advisory engagement to earn an interest in the Ghanaian portfolio is the most efficient way to crystalise value without having to raise additional capital. We are constantly evaluating additional opportunities to build project level interests and over time, a diversified revenue from those interests.\n \nR&D update\n \nIn July Tectonic received a further $157,000 from the Australian Government under its research and development funding program. Over $3 million has been received from this program to date which has substantially funded the development of exploration technology improving the efficiency of gold resource identification and delineation. \n \nThe technology expertise and exploration methodology created through years of rigorous in-field testing at Specimen Hill has generated two significant opportunities.\n \n\nThe data package generated over multiple seasons of field testing at Specimen Hill has attracted a farm-in partner to undertake the continued development of the project. This is discussed in more detail below. \n\nThe advanced technical expertise developed over the program attracted the interest of an international gold investor and has resulted in Tectonic being appointed to lead the commercialisation of a large privately held gold portfolio in the world class Ashanti Gold Belt in Gh...