SMM
From IntFX
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Summit Resources Limited is engaged in the identification of, and exploration for, base metal and precious metal mineral resources in Australia. In the Mount Isa province of northwest Queensland, it has six wholly owned uranium deposits, which are Andersons, Mirrioola, Watta, Bikini, Tjilpa and Warwai uranium deposits. Under the Mount Isa Uranium Joint Venture, it owns 50% interest in the Valhalla and the Skal uranium deposits. The Isa South project comprises nine contiguous tenement applications covering over 2,140 square kilometers of Proterozoic terrane in the south of Mount Isa. It has interest in six sub-block exploration permit minerals near CopperCo's Mount Kelly copper gold discovery in Mount Isa. During the fiscal year ended June 30, 2006, the Company was engaged in the spin-off of its Constance Range iron ore and phosphate assets by de-merging them into subsidiary, Pacific Mines Limited. As of June 1, 2007, Paladin Resources Ltd held an 81.82% interest in the Company.
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