After four years, Bartrop achieved his mission via a backdoor listing into the shell of a failed investor relations concern, R3D Global.

 

R3D raised A$4.25 million at 20c, ending a multi-year odyssey for Bartrop with an oversubscribed offer, allowing a successful takeover of Tartana.

 

With R3D successfully re-complying with the listing rules, its stock resumed trading at 20c, a 300% improvement on the 5.5c level of its prior self.

 

The stock traded between 17-23c during the session, closing slightly down at 19.5c.

 

R3D is positioning itself to be a significant copper-gold explorer and developer in the Chillagoe Region in north Queensland.

 

Bartrop said a key focus would be on restarting copper sulphate production using the existing heap leach pads and solvent extraction-crystallisation plant with the potential to provide future cashflow.

 

Tartana has 2634 tonnes of supergene copper in inferred resources. 

 

The funding would also allow for geophysics to prioritise the multiple copper prospects on the Bellevue and Dry River tenements, and airborne gravity and electromagnetic surveys over Newcrest Mining's 1250sq.km Bulimba project, north of Chillago, under a sale and purchase agreement.

 

Other plans include a focus on the prospectivity of R3D's granted mining leases, and drilling down-dip extensions of the Nightflower silver deposit.

 

The company also has a modest revenue stream from exporting the low-grade furnace slag/matte from stockpiles at Zeehan, Tasmania, to South Korea.

 

R3D's largest shareholders include ASX-listed SciDev at 12.5% and Bartrop at 4.25%.