What Alicanto Minerals does

Alicanto Minerals Limited (ASX: AQI) is a Perth-based, publicly listed junior mineral exploration company focused on gold and base metals in tier-1 mining jurisdictions. The company holds three core projects: the flagship Mt Henry Gold Project in Western Australia's Goldfields (0.9Moz Mineral Resource within a 16km mineralised corridor acquired from Westgold Resources in February 2026 for A$110 million), the Falun Copper-Gold Project in Sweden's Bergslagen region (312km², targeting extensions of a historic mine that produced ~28Mt @ 4% Cu, 4g/t Au), and the Sala Zinc-Silver Project in Sweden (91km², with a maiden Inferred Resource of 9.7Mt @ 4.5% ZnEq and a historic mine that produced ~200Moz of silver at 1,244g/t).

The company is pre-revenue, with 1–10 employees, and generates no product or service sales. Its business model is to create value through brownfield exploration using modern techniques on historically productive mining districts, funded primarily through equity capital raisings and selective asset monetisation — for example, the April 2026 sale of an NSR royalty of up to 2% on Mt Henry to Stria Lithium for A$5 million in cash and 4 million shares. The stated go-to-market pathway is eventual divestment, joint venture, or production offtake with mid-tier and major mining companies.

The asset base is supported by a 50,000-metre drilling program at Mt Henry, a leadership team that includes CEO Jeff Sansom (appointed February 2026) and a Chief Geologist credited with six major Swedish discoveries, and a board that includes the founder of Bellevue Gold. Alicanto does not operate proprietary technology platforms and does not disclose AI/ML capabilities.

Name

Alicanto Minerals

Legal name

Alicanto Minerals Limited

Website

https://alicantominerals.com.au

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

Alicanto Minerals is an ASX-listed junior mineral explorer (AQI) with a 0.9Moz gold project in Western Australia and two brownfield base-metal projects in Sweden, targeting resource growth and eventual development or divestment to mid-tier and major miners.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (212220), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Silver Mining (IMAKAEAB)

Keywords

• Gold exploration
• Mineral exploration
• Base metals exploration
• Zinc silver exploration
• Copper gold projects

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D

Marketing channels5 records

Core offering

Alicanto Minerals is a publicly listed mineral exploration company that identifies, acquires, and advances brownfields gold and base metal projects in tier-1 mining jurisdictions. Its current portfolio comprises three core assets: the flagship Mt Henry Gold Project in Western Australia (0.9Moz Mineral Resource within a 16km mineralised corridor), the Falun Copper-Gold Project in Sweden, and the Sala Zinc-Silver Project in Sweden. The company generates value through aggressive drilling programs and resource growth rather than current mineral production.

Product overview

Alicanto Minerals is a mineral exploration company operating three core gold and base metal projects: the flagship Mount Henry Gold Project in Western Australia (0.9Moz Mineral Resource), the Falun Copper-Gold Project in Sweden (targeting extensions of the historic 1,000-year-producing Falun mine), and the Sala Zinc-Silver Project in Sweden (maiden resource of 9.7Mt @ 4.5% Zinc Equivalent). The company focuses on brownfields exploration using modern techniques on historically significant mining districts.

Differentiator

Problem solved

Functional benefit

Products and services

• Mount Henry Gold Project Flagship gold exploration project located in the Wiluna-Norseman belt of Western Australia's Goldfields region, hosting a Mineral Resource of 0.9Moz within a 16km mineralised corridor along a Banded Iron Formation horizon. Targeted at investors and potential joint venture partners interested in tier-1 gold exploration.
• Falun Copper-Gold Project Copper-gold exploration project in Sweden's Bergslagen region, covering 312km2 with over 60km of target limestone horizon, targeting extensions of the historic Falun mine that produced 28Mt @ 4% copper, 4g/t gold, 5% zinc, 2% lead and 35g/t silver over its 1,000-year operating life.
• Sala Zinc-Silver Project Zinc-silver-lead exploration project in Sweden's Bergslagen region covering 91km2, hosting a maiden Inferred Resource of 9.7Mt @ 4.5% Zinc Equivalent including 4.5Mt @ 6% Zinc Equivalent high-grade zone. The historic Sala mine produced approximately 200Mozs of silver at 1,244g/t average grade.

Quantifiable outcome

• 0.9Moz Mineral Resource at Mt Henry within 16km corridor with mineralisation completely open
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Westgold ResourcescoreStrategic or Co-development Partner · 16 February 2026Westgold Resources completed the sale of its Mt Henry Gold Project to Alicanto Minerals for A$110 million (increased from A$64.6 million). This acquisition gave Alicanto its flagship Mt Henry Gold Project with 0.9Moz Mineral Resource.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Ramelius Resources: ASX-listed mid-tier gold producer operating in the WA Goldfields (Mt Magnet, Edna May, Marda). Directly comparable as a mid-tier gold producer emerging from WA Goldfields exploration success.
• Greatland Gold: LSE-listed multi-commodity gold and base metals explorer (Havieron JV with Newmont in WA). Directly comparable multi-jurisdiction gold/copper exploration model targeting Tier-1 brownfield opportunities similar to Alicanto's Mt Henry and Sweden portfolio.
• Westgold Resources: ASX-listed gold producer that divested the Mt Henry Gold Project to Alicanto for A$110M. Direct counterparty on Alicanto's flagship asset, operating neighbouring gold assets in the same WA Goldfields belt.
• Bellevue Gold: ASX-listed gold developer in Western Australia. Directly comparable: Alicanto's Chairman Raymond Shorrocks is the founder of Bellevue Gold, both operate in the WA gold sector with an analogous scale-up pathway from explorer to developer.
• Capricorn Metals: ASX-listed mid-tier gold producer in Western Australia (Karlawinda, Mt Gibson). Same WA Goldfields jurisdiction, similar expansion playbook from explorer to producer, and the type of mid-tier outcome Alicanto aspires to via Mt Henry.
• FireFly Metals: ASX-listed base metals (copper-gold) explorer. Director Raymond Shorrocks is Non-Executive Chairman; comparable Australian-listed junior explorer model with active drill programs and discovery-led valuation re-rating.
• Cygnus Metals: ASX-listed junior gold and base metals explorer. Director Raymond Shorrocks is a Non-Executive Director of Cygnus; comparable market cap tier and exploration-stage business model targeting gold and critical minerals.
• Centaurus Metals: ASX-listed copper-gold explorer with Brazilian assets. Director Didier Murcia is Chair of Centaurus and Non-Executive Director of Alicanto; both are small-cap explorers pursuing copper-gold discovery with similar GTM via ASX-listed equity.
• Mawson Gold: Multi-jurisdiction gold exploration company with Nordic (Finland/Sweden) and Australia exposure. Closely comparable diversified Tier-1 jurisdiction exploration model, particularly for Alicanto's Sweden Bergslagen portfolio.

Broad incumbents

• Evolution Mining: ASX-listed mid-tier gold producer with multiple WA operations (including the Mungari area near Kalgoorlie). A natural acquirer profile for Alicanto's Mt Henry asset at a future scale milestone, and a relevant broader comparable on the WA gold production economics Alicanto is targeting.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/AusAlicanto
• Facebookfacebook.com/AlicantoMinerals/?ref=nf&hc_ref=ARRAn9JQvUvXyvL9ctWYBBRBnyEP1MbuxuF4_j631Y6t66tNZlWgG0bzCowYYDtQAHc
• LinkedInlinkedin.com/company/alicanto-minerals

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alicanto Minerals