Corporate Profile & Strategy
Breaker’s objective is early discovery in an unexplored part of the Eastern Goldfields Superterrane which is responsible for 75% of Australia’s gold endowment.
Breaker listed on the Australian Securities Exchange (“ASX”) on 20 April 2012 after completing a successful $8.5 million initial public offering (“IPO”) with Patersons Securities Limited as Lead Manager. The IPO involved the issue of 42.5 million shares at A$0.20 a share, and 1 free attaching option for every 2 shares issued (A$0.25 exercise). The IPO received strong international and domestic institutional support that (combined) translated to 46% of the shares issued. Directors held an additional 25%.
Breaker's activities are focused on the underexplored eastern half of the EGST which is made up of the Yamarna and Burtville Terranes. Until recently this area was poorly understood due mainly to a previous lack of baseline data. New technology has developed in the last 15 to 20 years that has allowed exploration to expand into previously underexplored terrains, including those with transported regolith cover. These developments include improvements to analytical detection limits and reliability of multi-element analytical methods, the refinement of geochemical dispersion models in transported regolith, the revitalisation of biogeochemistry, the application of infrared reflectance technology and the development of reliable GIS platforms that allow for more sophisticated data manipulation and visualisation. In addition, the spatial extent of altered rocks measured with these methods is orders of magnitude larger than would have been previously interpreted from visual examination of the rocks. With the right choice of sample medium, a sample spacing of 1km by 1km is considered sufficient to recognise the footprint of a large alteration system. Recent significant gold discoveries in the area include Moolart Well in 2002, Tropicana in 2005, Garden Well in 2009, Central Bore in 2009 and Gruyere in 2013.
Breaker’s projects target major crustal faults located adjacent to regional anticlines, unexplored greenstone belts and fault bends—where gold deposits in the well-explored western part of the EGST were found to be most common. Breaker has identified eight new large +10-20km gold-in-soil anomalies on seven of the eight projects that formed the basis of the Company's IPO. The larger anomalies are coherent and associated with identifiable structures and gold pathfinder metals.
The Company’s main exploration tool is the drill rig guided by modern, multi-element geochemical techniques and infrared reflectance technology that enables cost-effective identification of gold alteration systems on wide drill hole spacing and a mechanism for sound exploration risk management that takes advantage of the Company’s large portfolio. In most high-endowment mineral provinces, two thirds of the metal is generally found in 10% of the deposits that are usually discovered early as they have the most obvious signatures.