Elysium Resources Limited (now Paterson Resources Limited) - July 2015 Update

Elysium Resources continues to make progress on its 100% owned Burraga Copper Project in the Central West of New South Wales. Key advancements include progress on the permitting and EIS, and completion of a resource upgrade, with 80% of resources now in the Measured and Indicated categories. Work to date has also highlighted the exploration and resource expansion potential of the project. The Company will be testing a number of targets as part of a planned resource expansion drilling programme, which if successful should significantly add to current resources and increase project life past the current estimated +4 year life and hence enhance the economics. Successful project implementation should allow Elysium to self-fund exploration activities over all of its prospective properties, and any exploration success should significantly drive the Company’s value. We continue to rate Elysium as a SPECULATIVE BUY – key price movers will be success in the planned upcoming drilling, and negotiation of an equitable funding/offtake package to develop Burraga. Download the report for more information.

Get the latest ASX research reports, subscribe to our mailing list.