Fuse Minerals Ltd (ASX: $FSE) is a mineral exploration company that seeks to advance base metals in three locations across Western Australia and Queensland. There are currently three projects that demonstrate base metal mineralisation and have strong growth potential. For example, the Mt Sydney Project with drill-ready targets and the Eastern Isaac Project have good copper potential, alongside other metals such as nickel, zinc, lead, and silver. There is equally additional gold in the Eastern Isaac tenure and the Mount Sandiman Project equally has important reserves of silver, lead, and zinc drill targets.

The Company’s vision is to create a company capable of discovering mineral deposits, focusing its know-how on exploring deposits that could be of interest to Tier 1 mining companies. They will equally be partnering with experienced miners and project developers to take discoveries through to operating mines.

1. Projects

Fuse Minerals Ltd’s three projects are comprised of the Mt Sydney Project and Mt Sandiman Project located in Western Australia and the Eastern Isaac Project is located in Queensland. A report from independent geologists shows prospective exposure to several early-stage opportunities. Most of its potential projects host mineral deposits and while evaluation is warranted for each project, these projects have strong revenue potential. A bit more detail about these exploration projects; 

• Mt Sydney Project - 1,119 km2 area on Western Australia’s Pilbara Craton – Paterson Province boundary. Drill-ready targets to be conducted.
• Mt Sandiman Project -  a 268 km2 area on the margin of Western Australia’s Gascoyne Province and Carnarvon Basin heritage. Survey and reverse circulation drilling of targets to be conducted.
• Eastern Isaac Project - a 637 km2 area within the Bowen Basin and Connors Arc of Central Queensland, reverse circulation and diamond drilling to be started.

2. Terms of the Offer

Fuse Mining Ltd aims to raise between $6 million and $10 million through the issue of 30 million and 50 million shares under an offer price of $0.20. 

3. Company Strategy

Fuse Minerals’ strategy is to secure and explore tenure as a high prospect area for the discovery of mineral deposits at a scale that can deliver and ensure access to Tier 1 mining companies. The company’s projects align with this strategy by attracting established mining companies through successful discovery. The company will seek to monetize projects that have minimal shareholder dilution through joint ventures and sales to generate ongoing revenues. While the company will originally focus on exploration projects as with most entities in the sector, it will pursue and assess other new tenures and business opportunities in the resource sector over time that complement its business. 

4. Management and Board

Fuse Minerals Ltd has a highly credentialed board and a management team that has combined governance, corporate, and technical expertise that includes Nyunggai Warren Stephen Mundine as a non-executive, independent director, and chairperson. Others include:

Todd Axford – CEO, Managing Director: Mr. Todd Axford founded a company and has over 25 years of experience across Australasia and Africa as a mining executive and exploration geologist. Mr Axford has equally held several technical roles and provided sign-off for a range of ASX-listed entities including Cobre, Alt Resources, Rimfire Pacific Mining, Torian Resources, Stratum Metals, and Australasian Resources. As the founder, managing director, and principal geologist of the Geko-Co, he has practical and verifiable experience and is equally the director of GITTS, a mineral and metals project company. 

Stephen Francis Pearson – Non-Executive Director: Mr. Pearson is a geologist with over 15 years of experience across multiple commodities. Together with Mr. Axford, Mr. Pearson is also the director of GTTA. Before this, he was a consulting exploration geologist at various locations throughout Australia. Mr Pearson is currently a contract exploration manager for numerous ASX-listed and private companies throughout Australia. 

Nyunggai Warren Stephen Mundine AO – Non-Executive, Independent Director and Chairperson: Mr. Mundine AO is a well-respected and influential businessman and an advocate for empowering indigenous people in Australia to build businesses and sustainable companies. With over 40 years of experience working in the public, private, and community sectors, he has successfully advised successive Australian governments since 2004 and was Chairman of the Prime Minister’s Indigenous Advisory Council from 2013 to 2017  after a long career in public policy, business, arts, and community sectors. In addition to this, he is also the managing director of Nyungga Black Group, Chairman of the Australian Indigenous Education Foundation, Governors of the committee of Economic Development of Australia, director of Aura Energy (ASX: $AEE), and director of the Indigenous Forum at the Centre for Independent Studies.

As Fuse Mineral’s IPO approaches, it is important to note that it has strong prospects across three main projects, with a range of metals ranging from copper to silver. As such, they are poised to provide substantial support to downstream firms and have listed at an affordable price to attract investors who see long-term value in a sector that will become indispensable to global supply chains and the energy transition.