Public | |
Traded as | ASX: TYX |
Industry | mineral exploration |
Predecessors | IronClad Mining, Trafford Resources |
Founded | May 2015 |
Headquarters | Perth , Australia |
Website | www |
Tyranna Resources is an Australian listed mineral exploration company. It was formed in 2015 by the merger of Ironclad Mining Limited and its major shareholder, Trafford Resources Limited.
IronClad Mining's major focus was iron ore exploration at the Wilcherry Hill Iron Project in South Australia. The company was listed on the Australian Stock Exchange on 11 July 2007. Trafford Resources Limited was the company's most substantial shareholder. IronClad Mining's head office was in Adelaide. [1] Tyranna Resources' registered office is in Perth.
Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in colour from dark grey, bright yellow, or deep purple to rusty red. The iron is usually found in the form of magnetite (Fe
3O
4, 72.4% Fe), hematite (Fe
2O
3, 69.9% Fe), goethite (FeO(OH), 62.9% Fe), limonite (FeO(OH)·n(H2O), 55% Fe) or siderite (FeCO3, 48.2% Fe).
The Wilcherry Hill Project was originally a proposed iron ore mine and associated infrastructure on Eyre Peninsula, South Australia. It was proposed by Ironclad Mining Ltd which later merged with Trafford Resources to become Tyranna Resources. As of 2018, the Wilcherry Project is a joint venture between Alliance Resources (67.35%) and Tyranna Resources (32.65%). The venture is exploring for economic concentrations of any of gold, tin, copper, zinc, lead, silver, iron, bismuth, tungsten and uranium.
South Australia is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of 983,482 square kilometres (379,725 sq mi), it is the fourth-largest of Australia's states and territories by area, and fifth largest by population. It has a total of 1.7 million people, and its population is the second most highly centralised in Australia, after Western Australia, with more than 77 percent of South Australians living in the capital, Adelaide, or its environs. Other population centres in the state are relatively small; Mount Gambier, the second largest centre, has a population of 28,684.
At the end of 2014, IronClad Mining announced a merger with its largest shareholder Trafford Resources through a scheme of arrangement in which IronClad bought all of the shares in Trafford. [2] The merger took effect in May 2015 and the combined entity was renamed Tyranna Resources. [3]
A scheme of arrangement is a court-approved agreement between a company and its shareholders or creditors. It may affect mergers and amalgamations and may alter shareholder or creditor rights.
Following the merger, the focus of the combined company moved from Wilcherry Hill to exploration prospects near the Challenger mine. [3]
The Challenger mine is a gold mine in the Far North of South Australia, 165 km west of the Stuart Highway and 740 km north-west of Adelaide. It was operated by Dominion, Kingsgate and then WPG Resources. The mine is now on Care and Maintenance. The deposit was named by the geologist who discovered it, after his dog.
The Wilcherry Hill mine has received State and Federal mine development approvals, but is yet to secure its export pathway. The company initially considered exporting its iron ore via Port Adelaide by road freighting it firstly to a standard gauge rail siding at Whyalla. The company later abandoned the idea in favor of a plan to expand the existing passenger ferry harbor at Lucky Bay to facilitate iron ore exports. [4]
Lucky Bay is a locality in the District Council of Franklin Harbour, on the Eyre Peninsula, South Australia. It is a terminus for SeaSA's Spencer Gulf passenger ferry and is also earmarked for future iron ore exports. Lucky Bay is located immediately north-east of the Franklin Harbour wetlands. Its adjacent waters lie within the outer boundary of the Franklin Harbor Marine Park. A ferry service crossing Spencer Gulf from Lucky Bay to Wallaroo commenced in 2006, and the dirt road connecting Lucky Bay with the Lincoln Highways was finally sealed in 2008. As of 2015, harbor expansion works are underway to facilitate future iron ore exports.
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