Red October Resources hunting in Kazakhstan

West Perth-based Red October Resources has announced it is evaluating several advanced mineral projects in the Central Asian Republic of Kazakhstan.

“On the heels of our recently completed initial public offering, we are working to hit the ground running as we strive to bring about early and significant returns to the investors who have put their faith in our experience and abilities,” Red October chairman and managing director Ross Smith said.

“In keeping with our mandate to explore global resource opportunities, the board of Red October has decided to focus on acquiring advanced resource projects in the Central Asian Republic of Kazakhstan.

Smith said the company had been offered a raft of projects covering a number of commodities including gold, silver, tin, copper, manganese, platinum, iron ore and potash.

“All of which have JORC compliant resources associated with them,” he continued.

“We have appointed Perth based Micromine, who have an office in Almaty Kazakhstan along with Russian and Kazakh speaking geological staff to assist us in undertaking our preliminary due diligence of these exciting resource projects.”

Smith identified a clutch of what he called “significant benefits to acquiring advanced resource projects in the Central Asian Republic of Kazakhstan”.

These included low operating costs such as for diesel, which is only 60 cents per litre.

“The projects are all situated near established road and rail links to China for access to markets, resources and materials, and there are minimal topographic or environmental barriers to proceed,” Smith said.

“These are all criteria that form part of our evaluation of any project and we are pleased with what we’ve found thus far in Kazakhstan.”