Navarre Minerals Ltd. has issued its Annual Report for 2022, giving shareholders and stakeholders a view into our successes and achievements over the past financial year.
Navarre is proud to have transformed into a gold and minerals producer in December 2021, having completed the acquisition of the Mt. Carlton United mining operation in Queensland from Evolution Mining for $40 million in cash and shares.
The mine performed admirably in the first six months of ownership, producing 45,768 ounces of gold, along with 317,198 ounces of silver and 1,838 tonnes of copper.
Mineral exploration continued in Victorian gold prospects, with pleasing results from drilling at St Arnaud, Tandarra (49% owned), Glenlyle and Langi Logan prospects within the Stawell Corridor Project, the latter of which is shaping up to be one of Victoria’s most exciting greenfields discoveries in recent decades.
We also continued to sponsor social initiatives such as remediation efforts by Project Platypus, and provide sponsorships and apprenticeships to the Birriah people of north Queensland.
Navarre also scored 4.51 out of a possible 5 for ‘social licence to operate’ on a Deloitte run stakeholder survey, a 15% improvement over last year.
As for financials, the company ended the year with a healthy cash balance of $12.8 million.
Access the entire report here: 2022 Annual Report to shareholders