Pacific Lime weighs strategic options for Star Mountains project in PNG
Australia-listed Pacific Lime and Cement Limited (PLC) has launched a strategic review of its Star Mountains copper/gold project in Papua New Guinea, as the company looks to unlock value from noncore assets while focusing on its lime and cement business.
The review follows inbound interest in the 100%-owned project and will assess a range of potential value realisation pathways, including joint ventures, strategic partnerships and capital markets transactions.
Star Mountains is located about 25 km from the Ok Tedi mine, within a globally significant copper/gold belt. The project hosts an inferred mineral resource of about 450-million tonnes grading 0.5% copper equivalent, based on historical estimates.
The company highlighted the project’s scale and exposure to both copper and gold as key attributes, noting that commodity prices have strengthened materially since the 2018 resource estimate.
Mineralisation is anchored by higher-grade near-surface zones and supported by extensive historical drilling and exploration data. Previous drilling returned notable intercepts, including 596 m at 0.61% copper and 0.85 g/t gold from 24 m, with mineralisation remaining open along strike.
PLC believes these characteristics position Star Mountains as an attractive development opportunity for potential partners capable of progressing large-scale projects.
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