Initial Licenses to National Mining Joint Venture
Initial work carried out by CAR Geoscience geologists has resulted in 12 licenses being granted on areas covering 6,000 sq km to 4 national mining companies.
The national mining companies are focused on the following specific resource areas: Iron Ore, Copper, Precious Metals, Industrial Minerals and Critical Minerals.
The Iron Ore Company has taken 5 licenses and from initial work they estimate that there will be over 5 bn (t) of Iron Ore on the properties licensed.
Each of the National Mining Companies has a right of first refusal on areas that CAR Geoscience surveys, providing a core revenue stream for CAR Geoscience.
Based upon resource estimate on initial Iron Ore licenses of in excess of 5 bn (t) optimum production of between 50 m (t) – 100 m (t) could reasonably be expected.
Potential revenue streams from a basket of commodities
CAR Geoscience gets a royalty stream from all commodities licensed using data provided from its National Survey