Siburan Resources Limited (ASX-listed: SBU) is a West-Australian based exploration company with tungsten and gold projects in Australia, New Zealand and Papua New Guinea . Built on a strong foundation of exploration expertise, Siburan Resources is well positioned to advance the company’s flagship Kirwan Tungsten and Gold project in New Zealand. Siburan aims to develop a substantial mineable low-cost tungsten resource outside China whilst also advancing current projects and identifying future opportunities.
Noel Ong MD Siburan Resources (ASX:SBU) has the Kirwan drilling programme paid for and the remainder of the cash should see the company through to early stage resource identification. Noel says that in terms of the investment opportunity, the market cap is currently twice cash and the investment picture could change when the drill phase starts up.
Siburan Resources Limited holds two granted tenements – an Exploration Permit (EP) and Prospecting Permit (PP) in an area prospective for tungsten and gold in the South Island of New Zealand.
The permit areas (Kirwans Tungsten Project) are located 12km east of the township of Reefton, on the west coast of the South Island of New Zealand. The EP and PP permits cover an area of 837km². The project is 100% owned by Siburan.