Melior Resources Inc. (MLR) is a TSX Venture Exchange listed company focussed on assessing, developing and operating resource projects.

Melior’s major asset is the Goondicum Ilmenite and Apatite Mine (Goondicum) located at Monto in Queensland, Australia. Melior is restarting Goondicum and plans to start ramping up to a production rate of 180ktpa and 50ktpa of ilmenite and phos rock respectively by the end of this calendar year. Since early 2017, ilmenite prices have improved significantly on their 2015 lows making a restart of Goondicum a very attractive proposition with the financial metrics compelling by virtue of a very low capital requirement and rapid restart capability. The project also has good potential to extend beyond its current 9 year mine life.

In conjunction with this Melior is embarking on an M&A program to start building a quality specialty minerals and metals group using Goondicum as the platform project.

Melior owns the intellectual property rights to the Browne Metallurgical process which is a research and development project investigating the novel use of a niche area of physics to conduct a low temperature separation of iron from TiO2 using ilmenite feedstock.

Stock Exchange Listing


Market Cap


Primary Commodities

  • Mineral Sands
  • Phosphate

Project Status


Country of Operation


Plans & Latest Developments

Goondicum is an ilmenite/phos rock mine that has previously had over $120 million spent on it. The project is a simple open cut operation with no pre-strip and conventional processing requirements. The restart project is essentially instigating several small improvements to the overall efficiency of the existing project and an improvement in product quality and will see production commence in November of this year with first sales early next year and genuine positive cash generation by the second quarter of 2019. The economics are quite compelling given the small capital outlay and low cost structure of the project.

Management and Board of Directors

Mr. Mark McCauley is CEO and director and has substantial mining experience, both technical and financial, and has been involved in the development of several major mining projects in Australia and Argentina, as well as turnaround and organizational restructuring of resource focussed corporations. Was previously CFO at ASX listed Felix Resources during the period where the market cap grew from $35 million to over $1 billion driven by project development and M&A before becoming Managing Director of an Australian Private Equity Fund. Subsequently ran Belridge Enterprises Pty Ltd, the former owner of the Goondicum Project.

Mr. Martyn Buttenshaw is Chairman and is currently a Managing Director with Pala Investments Limited. Mr Buttenshaw has significant direct mining experience and more recently has worked closely with several of Pala’s portfolio companies including Sierra Rutile (AIM:SRX), Norcast Wear Solutions and Asian Mineral Resources (TSX:ASN), to assist in their execution of strategic plans, growth projects, product marketing strategy, development of corporate governance and achievement of operational goals. Martyn is currently a director of Melior and Kasbah Resources (ASX:KAS) and a former director of Asian Mineral Resources (TSX.V:ASN) and Sierra Rutile Ltd.  Martyn holds an MBA (with distinction) from the London Business School and an MEng (First Class) in Mining Engineering from the Royal School of Mines, Imperial College, London.

Mr. Rishi Tibriwal, non-executive director, has more than 20 years of accounting and finance experience as well as broad experience in the resources sector.  Mr. Tibriwal is a chartered accountant and earned an MBA in Finance from Newport University. Mr. Tibriwal is also a graduate from Mumbai University and spent 10 years at Ernst & Young, with the last four years as a partner before setting up his own financial consulting services group. Mr. Tibriwal was also formerly the chief financial officer of Carpathian Gold Inc. and Gravitas Financial Inc.

Why should investors invest in you?

  • Great way for investors to gain exposure to thriving ilmenite and TiO2 markets (the only pure play ilmenite producer on the TSXV)
  • Fully financed for production
  • Near term production ensures Company enters rising mineral/metal cycle early
  • Melior has the financial/human resources to opportunistically engage in strategic/accretive M&A in other strategic markets

Melior Resources will be presenting their mining projects to prospective investors at Energy, Mines and Money Australia, Click here to download the programme.