Ishine International Resources Limited (Ishine or The Company) was founded in September 2009 and listed on the Australian Securities Exchange on the 18th December 2009. The Company is based in Perth, Western Australia and has established a series of exploration projects for base metal (copper, nickel, lead, zinc etc), iron, manganese, gold and uranium in Australia. Ishine has two advanced joint venture projects for up to 70% mineral rights, copper-gold mineralisation at its farm in projects in Mt Watson and Boomarra, both in north west Queensland. Exploration work has been progressing well in all three projects in 2010. Geophysical survey and drilling have been undertaken in a well scheduled manner with encouraging results achieved so far and further drilling is scheduled to take place soon.
Over the period of three year since it was funded, the Company has been aggressively acquiring quality exploration tenements in Western Australia, South Australia and Queensland with a total of 31 exploration applications lodged and 22 tenements has granted and secured in WA and SA before the end of September 2012 for a total land area of 10,984km2. The target exploration minerals have extended to Iron Ore, Gold, Copper, Nickel, Lead, Zinc, Manganese, Uranium, Cobalt and Mineral Sands, etc. The establishment of this carefully chosen project pipeline has paved a way for the Companys long term growth.
The Board and the senior management team are also continuing to evaluate other mineral projects that have the potential to contribute to company growth through joint venture, farm-in or acquisition arrangements. In realising its goal of fast tracking potential iron production projects and finding prominent base metal project in the Mid West region of WA, the Company acquired 12.7% of the total share on issue from another ASX listed mineral resources firm, Athena Resources Limited (Athena) whose Byro projects have high quality iron ore deposits and promising base metal deposits. Ishine also has an opportunity of increasing its Athena share holding up to 20% to become Athenas biggest share holder.
In summary, Ishine International Resources Limited (Ishine) has three categories of mineral exploration projects.