“The Company’s objective is to create a successful, value-driven and growth oriented business to maximise shareholder wealth. The means of achieving this will be to focus its exploration effort on world-class mineralised domains with the aim to discover and develop economic deposits of gold, copper and silver. Papua has a number of opportunities for discovery within its portfolio of tenements.
In Queensland, Papua will explore and advance its gold and copper projects whilst examining all available opportunities to capitalise on nearby operating processing plants. Through the potential use of toll treatment options at neighbouring mines, Papua aims to minimise costs of moving towards early gold production. Papua will be focussed on delivery of resources in Queensland, where historical drilling has already identified significant gold, copper and silver mineralisation.
In Papua New Guinea, the Company’s strategy will be to assess the results of its exploration at its advanced copper projects, with a view to recommencing ground-based activities once circumstances prove conducive to further exploration. In particular, appraisal of the intense hydrothermal alteration intersected in drill core will be used to vector towards copper mineralisation.
As part of its corporate strategy, Papua will also be closely monitoring and evaluating acquisition opportunities for appropriate projects that could result in near term production and positive cash flow for the Company.”