Transcription of Finance News Network Interview with Zeus Resources Limited (ASX:ZEU) CEO, Renzie Duncan
Lelde Smits: Hello I’m Lelde Smits for the Finance News Network and joining me from recently listed uranium explorer Zeus Resources Limited (ASX:ZEU) is CEO, Renzie Duncan. Renzie welcome back to FNN.
Renzie Duncan: Good to be here, thanks Lelde.
Lelde Smits: One of China’s state owned mining companies, China Metallurgical Geology Bureau, has just affirmed its investment in Zeus. Could you outline the terms of the support?
Renzie Duncan: We just listed Lelde on the ASX on the 21st of January with the support of China Metallurgical Geology Bureau, whose subsidiary
invested $11.56 million in the Company. Since listing, the Chairman of China Metallurgical Geology Bureau visited Sydney just last week and made a speech to the Australian Stock Exchange (ASX). We’ve also had a Board meeting just recently where two directors representing China Metallurgy [China Metallurgical Geology Bureau], have been appointed to the Board.
Lelde Smits: And what do you believe attracted China Metallurgical Geology Bureau to Zeus and what is the significance of the backing?
Renzie Duncan: China Metallurgical Geology Bureau is one of China’s largest mining companies. They employ over 16,000 people and control around 60 per cent of the exploration licences inside China, as well as having some operations in Canada. And bring to the table, 60 years’ experience of mining and exploring in China and give Zeus access to the incredible capital available to state owned enterprises. And for Zeus, it’s been a coup to attract such a major player with plans to transform Zeus substantially in the future.
Lelde Smits: So Renzie, what is China Metallurgical Geology Bureau’s vision for Zeus’ development?
Renzie Duncan: Well Mr Lu, the Chairman of China Metallurgy at his speech at the ASX last week, gave a very clear vision. His vision was to transform Zeus from a purely uranium exploration company to a world class multi-commodity producer. And we are well advanced in numerous discussions with targets inside Australia to achieve this goal.
Lelde Smits: Now Renzie as you mention acquiring uranium exploration projects, what is your current exploration footprint and what are your expansion plans?
Renzie Duncan: We’re in WA [Western Australia] at the moment. We’ve got seven project areas there very close to the Wiluna area, where Toro Energy Limited (ASX:TOE) and Cameco Corporation (TSX:CCO/NYSE:CCJ) and Mega Uranium (TSX:MGA) are very active. We’ve also got projects out at the Mulga Rock area, which is the Energy Minerals Australia Limited (ASX:EMA) area and another couple of smaller projects. But what we’re planning on doing is to purchase, or to joint venture with companies who have existing large deposits inside Australia, and those discussions are ongoing. And I anticipate that we’ll be expanding outside WA into South Australia, possibly the Northern Territory and possibly into Queensland.
Lelde Smits: So have you identified any potential purchases and what time frame have you put on executing any potential deals?
Renzie Duncan: We’ve been negotiating with two companies for nearly a year now. And of course, we had to get the Company listed and we had to get the strategy worked out following our listing. But I anticipate that there’ll be some news in the near future concerning these negotiations.
Lelde Smits: Finally Renzie, what major milestones would you like to see Zeus Resources achieve this year?
Renzie Duncan: I’d like to see Zeus go from being a purely exploration play to one that the market understands is fully supported by the might of the Chinese Government, in its desire to create Zeus as a platform for the future of mining between Australia and China, and for the benefit of both countries.
Lelde Smits: Renzie Duncan, thank you for the update to Zeus Resources.
Renzie Duncan: Thank you Lelde.