| Company type | Public (ASX: CMR) |
|---|---|
| Industry | Mining (exploration) |
| Headquarters | Sydney, Australia (main headquarters), Darwin, Australia (secondary headquarters) |
Key people | Gordon Toll (chairman), Malcolm Humphreys (CEO) |
| Products | cobalt, copper, gold, lead, nickel, uranium |
| Revenue | 45,000 AUD (from interest/currency transactions only - still in exploration/mine establishment phase), 2005 annual report |
| -1,141,105 AUD, 2005 annual report | |
| Website | www.compassnl.com.au |
Compass Resources NL is an Australian mining and mineral exploration company listed on the Australian Stock Exchange and currently in voluntary administration since 29 January 2009.[1]
The company's main assets are mineral resources at Browns, Browns East and Mount Fitch, adjacent to the former Rum Jungle uranium mine in the Northern TerritoryofAustralia. Brown's consists of a multi-metal oxide deposit overlying a related sulphide deposit.[2] Compass also has exploration rights over the site of the former uranium mine and some royalty rights on a gold mine in New South Wales.[3]
On 29 January 2009, Compass Resources went into voluntary administration, while in the process of commissioning the Brown's Oxide mine.[1] Compass was listed on the ASX with the fourth-largest lead deposit in the world, plus numerous other deposits with the potential value in excess of $15 billion. The company was chaired by mining magnate Gordon Toll. The company was awarded major project facilitation status by the Australian federal government and endorsed as a "Major Project of National Significance". The company formed a joint venture with Hunan Non-Ferrous Metals Corporation . As Compass undertook capital projects to develop and extract lead and other metal ores, costs appear to have blown out.[according to whom?]
