AGC solidifies strong hold on South Cobar Basin with new tenement

Australian Gold and Copper (ASX:AGC) has become the dominant titleholder across the South Cobar Basin, securing belt-scale control of the emerging mineral province after buying up NSW exploration title EL9012.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

“This year has been a consolidation year for us,” AGC’s managing director, Glen Diemar, explained to HotCopper. “We took a step back from the deposit, and we wanted to explore the belt. We wanted to know if we were exploring the best place, are we deploying shareholders’ capital into the best target?”

The answer, Mr Diemar explained, was “we may [be]” – but there are so many more juicy targets that AGC couldn’t just sit by and work on what they had.

“Just in the last few weeks, we brought the RC rig back, and we’re drilling some really nice holes to extend Achilles and filling in gaps where the MRE will go,” he said.

More market news

Fed pressure: Trump chides Powell as Goldman call for calm. The RBA must be nervous

Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst

All this boiled down into AGC looking to take full belt control at South Cobar; a strategy Mr Diemar is executing from the lessons he learned working for major BHP Limited (ASX:BHP) before he moved over to South32’s operations.

“When you have control of the whole belt you can explore systemically and prioritise targeting,” he explained. “And you get strong community engagement.”

AGC is at 16cps today; the explorer advanced +10.3% last week.

Join the discussion: See what HotCopper users are saying about Australian Gold and Copper and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.