Auctus Resources is a 100% owned subsidiary of Auctus Minerals Pty Ltd an entrepreneurial company established in 2014.
In December 2015, Auctus Minerals via one of its subsidiaries acquired Atherton Resources Limited (ASX: ATE) and subsequently delisted the company and renamed it Auctus Resources. Although this may be an appropriate point to say, “the journey begins”, in reality the journey began almost 2 years earlier when the Auctus Directors identified the assets held by Atherton (formally Mungana Goldmines) as being extremely attractive, following multiple reviews the acquisition was agreed.
Prior to the acquisition an Operational Management Team had been identified which was immediately deployed upon the Change of Control taking place. Although a young company, the Auctus Resources Team have hundreds of years of experience which they have quickly put to good use.
Auctus Resources now have projects which cover an extensive land holding of 607Km² in the Chillagoe region of North Queensland and another nine tenements covering an area in excess of 1,600km² in the Charters Tower District. The Chillagoe region projects host both Polymetallic Skarn deposits and Porphyry Gold-Copper deposits and the Charters Tower District forms part of a world class mineral province, hosting a variety of gold deposits from where over 15 million ounces of gold have been extracted.
The Chillagoe region has a long history of mining and the Auctus Resources Team are looking forward to recommencing mining in the area and to completing the partially constructed Mungana Processing Plant and to being in production in 2017.