Compass Resources

Compass Resources NL
Type	Public (ASX: CMR)
Industry	Mining (exploration)
Headquarters	Sydney, Australia (main headquarters), Darwin, Australia (secondary headquarters)
Key people	Gordon Toll (chairman), Malcolm Humphreys (CEO)
Products	cobalt, copper, gold, lead, nickel, uranium
Revenue	45,000 AUD (from interest/currency transactions only - still in exploration/mine establishment phase), 2005 annual report
Net income	-1,141,105 AUD, 2005 annual report
Website	www.compassnl.com.au

Compass Resources NL is an Australian mining and mineral exploration company listed on the Australian Stock Exchange and currently in voluntary administration since 29 January 2009.[1]

The company's main assets are mineral resources at Browns, Browns East and Mount Fitch, adjacent to the former Rum Jungle uranium mine in the Northern Territory of Australia. Brown's consists of a multi-metal oxide deposit overlying a related sulphide deposit.[2] Compass also has exploration rights over the site of the former uranium mine and some royalty rights on a gold mine in New South Wales.[3]

Mining in the Northern Territory

On 29 January 2009, Compass Resources went into voluntary administration, while in the process of commissioning the Brown's Oxide mine.[1] Compass was listed on the ASX with the fourth-largest lead deposit in the world, plus numerous other deposits with the potential value in excess of $15 billion. The company was chaired by mining magnate Gordon Toll. The company was awarded major project facilitation status by the Australian federal government and endorsed as a "Major Project of National Significance". The company formed a joint venture with Hunan Non-Ferrous Metals Corporation . As Compass undertook capital projects to develop and extract lead and other metal ores, costs appear to have blown out.

References

Compass Resources ASX announcements 2009 accessed: 10 September 2009
Francis, Adrienne (22 February 2006). "Renewed activity around Rum Jungle". ABC Rural: Northern Territory. Australian Broadcasting Corporation. Retrieved 22 February 2007.
"New South Wales resources". Compass Resources. Archived from the original on 18 February 2007. Retrieved 22 February 2007. and "New South Wales exploration". Compass Resources. Archived from the original on 18 February 2007. Retrieved 25 February 2007.

External links

"Compass Resources NL company web site". 2005. Retrieved 22 February 2007.
"repository of Rum Jungle news articles". 2007.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.

[asx-1] Compass Resources ASX announcements 2009 accessed: 10 September 2009

[Francis-2] Francis, Adrienne (22 February 2006). "Renewed activity around Rum Jungle". ABC Rural: Northern Territory. Australian Broadcasting Corporation. Retrieved 22 February 2007.

[3] "New South Wales resources". Compass Resources. Archived from the original on 18 February 2007. Retrieved 22 February 2007. and "New South Wales exploration". Compass Resources. Archived from the original on 18 February 2007. Retrieved 25 February 2007.