Tethyan Copper Company Ltd
Mining in Perth

Behind evaluating numerous opportunities, mincer bid for and won the Miitel Nickel Mine and associated tenements. This allowed the Company to commence paying dividends to shareholders. The spin out was accomplished via a return of capital to shareholders, with mincer distributing all the shares it held in Tethyan to its own shareholders. In premature 2006, with its four nickel mines operating at packed capacity, mincer began to prepare for its after phase of growth. The Company announced a Growth and Expansion Strategy designed to aggressively grow its existing nickel mining business while simultaneously expanding the Company's interests across a wider range of mineral commodities. The first fruits of the new strategy came in hasty 2006 when mincer struck a deal with View Resources Ltd to earn an interest in the Carnilya Hill nickel project. Less than one year later, following the resource drill out and completion of feasibility studies, mincer announced the godhead for a fresh mining operation at Carnilya Hill. The Company reduced costs by suspending mining at higher cost operations and pulling production back to a core of low cost mines that remain to generate strong cash flows. The Company's commonsense approach to its own finances also came to the fore during this period, with its debt free and cash rich balance sheet making it one of the financially strongest companies on the Australian Securities Exchange. However, the Company remains focused on its Kambalda prosperity and expects to resume production when prices recover. In the meantime, an energetic strategy to grow shareholder wealth is lower development.

However, it continues to own and progress feasibility smooth nickel projects as well as several resource glossy and advanced stage exploration projects in the Kambalda District. Six active gold prospects and two development ready nickel projects. Given the very lofty prospectively of the area and with all the gold resources at minimum partly open, there is the potential to build a long term gold business through ongoing exploration. The prospect is an extension of the mineralised trend from the Bass pit, which was previously mined by Resolute, produced 7,150 ounces of gold. The area has not been subject to sustained gold exploration for nearly 20 years. The reversion of the gold rights to mincer, together with substantial exploration data, has created an extraordinary new opportunity in gold for the Company in this highly prospective terrain. However, there is a range of maintenance levels that can be applied, each with its own cost. This work identified an opportunity to permit a controlled and prejudiced flooding of the lower levels of the north and south declines, with an option in premature FY2018 to continue pumping prior significant mine infrastructure is flooded. The reestablishment cost at that point is estimated to be 6.1 million, which was weighed against the cost of packed maintenance to that point of an estimated 6.0 million. Infill drilling is needed to permit for the estimation of a Mineral Resource, however mincer has identified an Exploration Target within the area of drilling of between 400,00 and 500,00 tonnes at grades of between 3 and 4 nickel. The overhead Exploration Target does not include meaningful additional potential lying outer the area that has been drilled, including both down plunge and in excess channel structures associated with the magnetic high. mincer’s North Kambalda tenements cover the northern third of this Dome and have produced nickel from seven known ore systems, including Otter Juan, the single biggest producer in the District. This work demonstrated the likely presence of a third channel structure, down dip of the Otter Juan and LongDurkin channel structures, each of which has produced more than 100,00 tonnes of nickel. Expectations are therefore high that this third structure could be another one of these giant, high grade ore bodies. The North Kambalda nickel prospectivity reinforces the value of mincer's option to restart nickel exploration when prices recover. The big sulphide zone forms the lowermost unit, and lies directly on the underlying basalt unit. There is immense variability throughout the ore bodies. Mr Muccilli is a geologist with over 25 years' experience. Mr Muccilli has extensive experience in mining, project development and exploration in Australia. A graduate of the Western Australian School of Mines, he has worked as a mining engineer, mine manager, observe manager, project manager, project director and managing director. He has been directly involved in a number of new project developments in the gold, nickel and diamond sectors both in Australia and offshore. He has over 30 years' involvement in the Australian and international resources' industry encompassing mini operations, project development, business development and corporate administration. mincer recognizes its responsibilities to all its stakeholders and will ensu