Good afternoon ladies and gentlemen and thank you very much for coming along and giving us the opportunity, myself and the other speakers, to tell you a little bit about some Australian companies, and in our case, one that is actually actively exploring in the US. We spend around about 50 to 60 per cent of our exploration budgets in Nevada. So it’s a very important place for us where we spend a lot of time and effort, and a place we very much enjoy.
Global Geoscience (ASX:GSC) - we listed on the ASX, we classify ourselves as a greenfields explorer which is something that probably not a lot of smaller exploration companies are involved in these days. It is the high risk, high end reward of exploration but we as a company, saw a real opportunity in that space. We had some ideas that we think give us a bit of an advantage when it comes to picking areas to do greenfields exploration.
And what I’m going to show you now are a couple of examples of some projects that we have basically identified from first principles, worked up, drilled and had ore grade intercepts that are now starting to attract the interest of some major players in the exploration and mining game.
Just a snapshot of the company, Nevada and Peru are where we’re primarily focused. The reason for that – big ore bodies, great metal endowment and countries or jurisdictions that we are comfortable working in. And we’ve got a lot of experience working in those areas, so that we work there efficiently. In terms of commodities principally a copper, gold and silver focus.
I mentioned greenfields explorer, so given the greenfields focus the presence in Nevada and Peru, also we’re looking for large high value deposits. Something that you’ve got to do I think, particularly as a greenfields explorer - high risk, high reward type of approach to exploration. A benefit of doing the greenfields exploration is that in general, we end up with 100 per cent ownership of these things.
So they’re areas that other people haven’t done a lot of exploration work on in the past. And often they’re on open ground or where they’re held by other companies, you can do deals that are relatively soft that give you the ability to go to 100 per cent ownership.
We’ve been working on these things for a few years now, so we’ve got quite a pipeline of targets that are ready to drill test. We drilled a couple of them last year with some very successful results. We’re an efficient low-cost explorer; we spend four in every five dollars on exploration in the Company. That’s something that we have consistently done since listing in 2007.