The Company’s core asset is the 80%-owned South Woodie Woodie Manganese Project, which is located 1,200km north of Perth and 230km north-east of Newman in Western Australia’s East Pilbara region.

 

The South Woodie Woodie Project comprises three granted Exploration Licences, located about 40km down-strike from the 1 million tonne per annum (Mtpa) Woodie Woodie manganese mine, operated by Consolidated Minerals Limited. In February 2008, the Company announced that it had significantly expanded its ground holding in the East Pilbara region by lodging applications for four strategic tenements, located approximately 13km south east of the northern project area.

 

In May 2008, Spitfire moved to diversify its asset portfolio and commodity base after entering into an agreement to acquire Black Rock Energy Pty Ltd (Black Rock), a privately owned company whose assets include an advanced and highly prospective portfolio of thermal coal exploration properties located in the Derwent Valley, north-west of Hobart in Tasmania (the Langloh, Avoca and Ouse Projects).

 

Subsequent to this, in December 2008, the Company acquired an option over the Elderslie Exploration Licence Application in southern Tasmania from the privately-owned company Allambie Construction & Equipment Company Pty Ltd. This ELA has since been granted. 

 

Spitfire also intends to actively investigate and acquire additional well-located prospective mining tenements both in Australia and overseas as it expands its footprint as an emerging company in the international resource sector.