While investors familiar with the Peake Project know that our primary focus has been copper, the recent identification of heavy mineral sands (HMS) highlights the company’s rigorous assessment and commitment to identifying the best opportunities for our shareholders. Opportunities that meet a clear set of selection criteria: in-demand commodities, favourable jurisdictions, nearby known deposits and economic scale potential.

Recent discoveries in the Eromanga Basin—such as Petratherm’s Rosewood Prospect— underscore the region's broader potential for significant HMS deposits. Prospective sedimentary basins often host multiple HMS systems; the Eucla, Murray, and Perth basins are clear examples.

While HMS may not be as well-known as other commodities, these deposits contain minerals critical to global supply chains. They are refined to produce titanium, zirconium, and rare earth elements—essential inputs across traditional industries and high-tech manufacturing. This makes HMS both commercially valuable and strategically important. The HMS potential at the Peake Project was identified by Ian Warland, a previous recipient of the “Discovery of the Year” award for his discovery of the world-class Jacinth HMS deposit in South Australia. I’m pleased to welcome Ian to the Copper Search team. His proven expertise—from project generation to feasibility and production—will be a major asset to our exploration efforts.