Cosmo Metals Targets Gold and Copper in NSW Drill Drive

About Cosmo Metals Limited

Cosmo Metals Limited (ASX: CMO) is an Australian metal exploration company committed to delivering shareholder wealth through focused exploration. The company aims to unlock value in its NSW and Western Australia projects. Cosmo Metals was listed on the ASX on 31 January 2022 at an issue price of AUD 0.166 per share.

Financial Performance

Cosmo Metals maintains a lean capital structure with 317.8 million shares on issue and a market capitalisation of AUD 4.8 million as of 11 April 2025. With AUD 1.6 million recently raised via a fully underwritten entitlement offer, the company is funded to advance its upcoming drilling campaigns. The top 20 shareholders hold approximately 66% of the issued capital, suggesting strong insider alignment and a tightly held register.

Growth Pipeline

Cosmo’s current exploration efforts are centred on its 743km² landholding in NSW, which encompasses the historic Bingara and Nundle goldfields. At Bingara, five significant gold trends have been identified, with the Spring Creek prospect already yielding shallow high-grade intercepts, including 6.0m at 6.43g/t Au and 8.0m at 2.83g/t Au. These walk-up targets are being fast-tracked, with drill planning and permitting underway.

Further south, the Nundle project presents another underexplored but highly prospective region. The Folly Line gold trend returned 5.0m at 5.86g/t Au from historic drilling and remains open along strike and at depth. In parallel, the Barnard Hut and Back Barb zones are targeted for intrusion-related copper-gold mineralisation, reminiscent of the Mt Morgan deposit.

Additionally, the Mt Everest copper belt within Bingara hosts a 2.5 km-long trend with historic copper workings. Recent sampling returned up to 18.6% Cu from near-surface zones. SAM surveys and mapping programs support these findings in delineating massive sulphide-style mineralisation.

In Western Australia, the Kanowna Gold Project—just 13km from Kalgoorlie—has delivered broad, low-grade gold intercepts (e.g. 32m at 0.44g/t Au) in early drilling. Cosmo uses this data to refine geological models ahead of a follow-up program targeting higher-grade structures within the Kanowna Shear Zone.

Strategic Development

A key differentiator for Cosmo is its active and structured exploration approach. Across both its NSW and WA tenements, 2025 is expected to be a pivotal year, with multiple value-driving catalysts. In Q2, the company prioritises drill approvals and execution at Spring Creek and Folly Line. Concurrently, mapping and sampling at Mt Everest and Barnard Hut aim to build a pipeline of copper-gold targets for drill testing later in the year.

Although at an earlier stage, the Kanowna project is being progressively refined using structural and geophysical datasets. This reflects Cosmo’s commitment to disciplined exploration and systematically reducing the risk of its assets.

Industry Context

Cosmo’s focus on antimony is particularly timely. Antimony is facing global supply pressure as a critical mineral essential for semiconductors and military-grade materials. China dominates production but has curtailed exports, and the US has no domestic output. This supply imbalance, combined with rising demand from lithium-ion battery and defence sectors, drives investor interest in reliable, non-Chinese sources of antimony.

In parallel, the outlook for copper remains robust, fuelled by its role in electrification, EV production, and renewable infrastructure. Cosmo’s copper targets at Mt Everest and Barnard Hut could become increasingly valuable as these macro trends gather momentum.

Cosmo Metals positioned itself as an explorer in Australia’s mineral-rich yet underexplored regions. With high-quality historical data, several imminent drilling targets, and access to essential minerals, Cosmo presents significant leverage for exploration success. Its methodical strategy, reasonable market valuation, and streamlined capital structure further boost its prospects for a substantial re-rating as results emerge.