About Us
Tolu Minerals is highly regarded mining and corporate team with decades of exploration, mining and mine restart experience.
Papua New Guinea is a world class gold/copper producer, but remains undervalued and under developed.
Secured 3 highly attractive projects targeting world class gold/silver and copper projects.
Refurbishing and leveraging existing infrastructure at Tolukuma gold mine to fast start targeted exploration.
Large, partially defined exploration targets with potential for major discoveries on the Tolukuma structure.
Historical exploration at Mt. Penck affords the opportunity to define a large gold/silver/copper resource.
Raising AU$ 15 to 20M through an Australian Securities Exchange Initial Public Offering.
Refurbishing certain Tolukuma Gold Mine infrastructure including the new access road, the existing hydro electric power station, pumping and other mine support infrastructure.
Increasing confidence in the existing Mineral Resource Estimate.
Early start, targeted exploration at Tolukuma Gold Mine.
Exploration on portfolio of prospective, adjacent exploration licenses.
Recommence exploration on the Mt Penck gold/copper project.
Why us
Tolukuma Gold Project
The project is located in the highly productive and undervalued PNG gold province. Historical high-grade operation. Several Kora-style targets have been located within the mining lease. Current resource is 503 Koz of Gold and 1.95 Moz of Silver. There remains enormous potential with only a small portion of mining lease developed. 1 million oz. of Gold and 2.4 million oz. of Silver at a recovered grade of 14g/t Au were produced historically.
Proven track record of execution and value creation
Tolu Minerals has assembled a strong and experience team with the requisite resources company building skillsets. Board and management has proven exploration, operational and PNG experience and track record.
Board and management alignment with shareholders
The board management team are heavily invested in the company. The company secured a pre- IPO investment of approximately A$11.5m to complete the due diligence, acquisition and undertake certain studies.
Paving the way to building a major new gold resources company
Comprehensive planning and studies carried out over the last two years positions the company for rapid implementation of its strategy. Commercing Q3 2023 Rapid ramp up with significant short term progress and outcomes.
Leadership
With decades of company building experience including exploration, development, mining and strong local representation, our leadership have proven capabilities to deliver on the potential of our assets.
Board of Directors
The directors bring relevant experience and skills to the board, including international and local industry and business knowledge, financial management and corporate governance experience.
John Anderson
John has over 30 years of experience in the Australian and Asia-Pacific resources sector, including 12 years as a senior executive in Santos Ltd with responsibility for operations in PNG. He is also a Non-Executive Director of Platina Resources Ltd (ASX:PGM). John holds a Bachelor of Economics, Bachelor of Laws, Graduate Diploma in Commercial Law and is a Graduate of the Australian Institute of Company Directors.
John (Iain) Macpherson
Iain is a seasoned mining executive with well over 30 years of experience in senior management and executive roles in junior and major mining sectors. He has a track record of operating, developing and financing mining projects including having led a number of significant stock market listings, specifically on the London and North American markets. Iain holds a Bachelor of Science in Mining Engineering from the Royal School of Mines, Imperial College, London University.
Howard Lole
Howard is a PNG National with over 25 years of experience in the public and private sectors, including the financial, industrial and mining sectors. Former Chief Inspector of Mines responsible for development of several major mining projects, Former Community Affairs Manager for K92 Mining Ltd, Simberi Gold Project and Lead Consultant for the Mt Kare Gold Exploration Project, among others. Howard holds a Bachelor of Engineering in Mining Engineering from the PNG University of Technology and a Master of Engineering Science with specialisation in the Mining Industry Management from the University of New South Wales. Howard also holds certificates of attendance at various company director courses offered by the PNG Institute of Company Directors and the PNG Institute of Banking and Business Management.
Larry Andagali
Larry is a well-known and successful PNG Businessman with over 30 years of public and private experience. He is the former chair of PNG Power Ltd and deputy chair of Kumul Petroleum Holdings Ltd. He has held various managerial and advisory roles for BP and ExxonMobil. Larry holds a Diploma in Secondary Teaching and an Advance Diploma in Teaching Science from the University of Goroka in PNG.
Management
Craig Dawson
Craig is the Chief Financial Officer and Company Secretary of Site Group International Limited (ASX:SIT). He brings extensive financial management experience gained in ASX listed entities with both local and international operations in a variety of industries including media, financial services, gaming and wagering and most recently in the rapidly growing online sector. Most notably, Craig was the Chief Financial Officer of Wotif.com for over 4 years as the group experienced rapid earnings growth, greatly extended its geographical reach and expanded its brands and products through both organic and acquisition growth. Prior to that, Craig was Queensland General Manager – Corporate Services at Tatts Group Limited (Tatts) heading up the finance and administration divisions of Tatts’ Queensland operations. Craig holds a Bachelor of Commerce and is a Chartered Accountant.
Richard Moore
Richard is a PNG geologist with over 20 years’ experience in the PNG exploration sector with large and small caps searching for epithermals, porphyries and platinum group metals. He consulted widely to the junior mining sector before joining Frontier (PNG) as its Exploration Manager.
Advisory Board
The company has established an advisory board comprising:
Ian Stalker
Mining engineer with extensive experience in operational and executive roles for several international mining companies. Mining consultant providing advisory services to mining companies and national governments, including PNG. Extensive PNG operating experience and former General Manager of the Tolukuma Gold Mine.
Richard Johnson
Mining engineer with extensive experience in operational and executive roles for several international mining companies. Mining consultant providing advisory services to mining companies and national governments, including PNG. Extensive PNG operating experience and former General Manager of the Tolukuma Gold Mine.
Peter Swiridiuk
Geologist, former Managing Director of ASX listed Coppermoly Ltd working copper/gold assets on the island of New Britain in joint venture with Barrick Gold Corp. He is also a director of ASX listed Lanthanein with gold prospects adjacent to Tolukuma. Lanthanein has recently been responsible for in excess of A$40 million in exploration programmes in PNG.