Conquest Mining

Conquest Mining was an Australian mining company focused primarily on gold exploration, development and production opportunities, with additional exposure to silver and copper. The company operated during a period of consolidation in Australia's mid-tier gold sector and assembled interests in several projects rather than functioning as a diversified global mining major. A significant step in Conquest's portfolio expansion came in September 2010, when it acquired a 40% stake in the Pajingo mine in northern Queensland. Pajingo was an established gold operation and gave Conquest exposure to producing-asset economics alongside its exploration and development properties. Conquest also pursued the Silver Hill resource, described as a silver-gold-copper project, and participated in other gold-mining projects in Australia. One of the company's prominent development assets was Mount Carlton. Conquest entered into a reported A$1 billion offtake agreement for the largest deposit at Mount Carlton with Shandong Guoda Gold, a major Chinese gold smelter. The agreement linked the proposed Australian resource to an international processing and commercial partner. Reported resource estimates for Mount Carlton were approximately 1.27 million ounces of gold, 40.6 million ounces of silver and 71,800 tonnes of copper, illustrating the polymetallic character of the project. Conquest's independent corporate identity ended in late 2011 when it merged with Catalpa Resources Ltd. The transaction created Evolution Mining, an Australian mid-tier gold producer that brought together the companies' operating and development assets. As a result, Conquest Mining is now a defunct company rather than an active standalone mining brand. Its historical significance lies in the projects it developed and the corporate combination that contributed to the formation of Evolution Mining.

Conquest Mining was an Australian mining company whose activities centered on gold, while also including silver and copper resources. The available historical record presents it as a project-focused participant in Australia's mid-tier mining industry, with a portfolio combining an interest in an operating gold mine, development-stage resources and other gold-mining projects. The company expanded its operating exposure in September 2010 by purchasing a 40% stake in the Pajingo mine in northern Queensland. This transaction gave Conquest an interest in an established gold operation and complemented its development and exploration activities. Pajingo therefore represented an important change in the balance of the company's portfolio, adding producing-asset exposure to its broader resource strategy. Conquest was also developing Silver Hill, described as a silver-gold-copper resource, and held interests in other gold projects. Its Mount Carlton project was another central asset. The company signed a reported A$1 billion offtake agreement for the largest Mount Carlton deposit with Shandong Guoda Gold, one of China's large gold smelters. The arrangement provided a commercial route for the resource and connected an Australian mining development with an international downstream counterparty. Resource estimates associated with Mount Carlton were reported at about 1.27 million ounces of gold, 40.6 million ounces of silver and 71,800 tonnes of copper. Conquest's corporate history concluded in late 2011. It merged with Catalpa Resources Ltd to create Evolution Mining, a new Australian mid-tier gold producer. The merger transferred the strategic importance of Conquest's projects into the Evolution Mining group and removed Conquest Mining as a separate operating entity. Accordingly, Conquest is best understood as a historical Australian mining company and predecessor to part of Evolution Mining's asset base, rather than as a currently active brand.

• 2011

  Merger with Catalpa Resources

  [1]Conquest Miningen.wikipedia.org

  Conquest Mining merged with Catalpa Resources Ltd to form Evolution Mining, an Australian mid-tier gold producer.

• 2010

  Acquisition of a Pajingo mine interest

  [1]Conquest Miningen.wikipedia.org

  Conquest Mining bought a 40% stake in the Pajingo mine in northern Queensland, adding an interest in a producing gold operation to its portfolio.

• Mount Carlton offtake agreement

  [1]Conquest Miningen.wikipedia.org

  Conquest signed a reported A$1 billion offtake deal for the largest Mount Carlton deposit with Shandong Guoda Gold.

An Australian mid-tier mining company focused on gold assets and polymetallic development resources, with interests spanning producing mines, exploration projects and strategic offtake arrangements.

• Gold mine interest

  Pajingo mine

  Pajingo was a gold mine in northern Queensland in which Conquest Mining acquired a 40% interest in September 2010. The asset gave the company exposure to an operating mine rather than only to exploration and development-stage resources.

• Polymetallic mining project

  Mount Carlton

  Mount Carlton was a major Conquest development asset containing gold, silver and copper. Reported total resources were approximately 1.27 million ounces of gold, 40.6 million ounces of silver and 71,800 tonnes of copper. Conquest signed a reported A$1 billion offtake agreement for the largest deposit with Shandong Guoda Gold.

• Silver-gold-copper resource

  Silver Hill

  Silver Hill was a resource being developed by Conquest Mining and described as containing silver, gold and copper. It formed part of the company's broader portfolio of Australian precious-metals and base-metals opportunities.

• 2011

  Merger with Catalpa ResourcesM&A

  Background

  Conquest Mining and Catalpa Resources combined their assets and operations to create a larger Australian gold producer.

  Action taken

  The companies merged in late 2011 to form Evolution Mining.

  Aftermath

  Conquest Mining ceased to operate as a standalone company, while its assets and corporate history became part of Evolution Mining.

  Source

• 2010

  Purchase of a 40% Pajingo interestM&A

  Background

  Conquest sought to increase its exposure to operating gold production while continuing to develop exploration and resource assets.

  Action taken

  The company acquired a 40% stake in the Pajingo mine in northern Queensland.

  Aftermath

  The transaction expanded Conquest's Australian gold portfolio with an interest in a producing mine.

  Source

• Mount Carlton offtake arrangementStrategy

  Background

  Conquest needed a commercial pathway for the largest deposit at its Mount Carlton polymetallic resource.

  Action taken

  The company signed a reported A$1 billion offtake agreement with Shandong Guoda Gold.

  Aftermath

  The agreement connected the Mount Carlton resource with a major Chinese gold-smelting counterparty.

  Reported offtake agreement value. A$1 billion (Year not specified in the cited reference)

  Source

• 2011

  Conquest Mining merged with Catalpa Resources[1]Conquest Miningen.wikipedia.org

  M&A

  Conquest Mining merged with Catalpa Resources Ltd in late 2011. The combination formed Evolution Mining, an Australian mid-tier gold producer, and ended Conquest's existence as a standalone company.

• 2010

  Conquest Mining acquired a 40% stake in the Pajingo mine[1]Conquest Miningen.wikipedia.org

  M&A · Other

  In September 2010, Conquest Mining bought a 40% interest in the Pajingo gold mine in northern Queensland, expanding its exposure to an operating Australian gold asset.

• Conquest Mining signed a Mount Carlton offtake agreement[1]Conquest Miningen.wikipedia.org

  Other

  Conquest Mining signed a reported A$1 billion offtake agreement covering the largest deposit at Mount Carlton with Shandong Guoda Gold, a major Chinese gold smelter.

1. 1Conquest Miningen.wikipedia.org