What Breaker Resources does

Breaker Resources NL is an ASX-listed (BRB) gold and lithium exploration company headquartered in Perth, Western Australia, focused on discovering and developing large-scale mineral deposits in the Eastern Goldfields region. Its flagship asset is the 100%-owned Lake Roe Gold Project, a 700km² greenfields gold district located 100km east of Kalgoorlie between two operating gold mines on the southern extension of the 22Moz Kalgoorlie gold system. Exploration is conducted via diamond and reverse circulation (RC) drilling, with a current resource base of approximately 1.7 million ounces (including a 1.37Moz Bombora deposit defined as 27.9Mt at 1.5g/t) supported by over 223,000m of cumulative drilling and metallurgical testing indicating 95% gold recovery for weathered and fresh mineralisation. High-grade flat lodes have been intersected beneath the open pit resource (with grades up to 105.4g/t and visible gold at 420m depth), creating underground mining optionality alongside the open pit plan.

The company's portfolio also includes the Manna Lithium Project, which has returned positive initial drill assays for lithium mineralisation in pegmatite outcrops, and the Ularring Gold Project. Breaker operates a small team of 11-50 employees founded by geologist Tom Sanders (previously leader of Navigator Resources) and listed on ASX in 2012. The company is pre-revenue and does not yet produce or sell gold; it funds exploration through equity placements and produces no operating cash flow, with disclosed raises including A$10M in 2017 and an A$8M placement to Electrum Strategic Opportunities Fund II in 2019. Its go-to-market is investor-relations-led: ASX announcements, broker research coverage (Bell Potter, Patersons), conference presentations (Diggers & Dealers, Resources Rising Stars, Precious Metals Summit), and quarterly/annual reporting cycles aimed at institutional and retail investors in the resources sector. Major institutional shareholders include Electrum Strategic Opportunities Fund II and Paulson & Co (combined ~20%) and Franklin Templeton (~6%), providing patient capital for ongoing drilling intended to expand the resource base and attract potential corporate acquirers or development partners.

Name

Breaker Resources

Legal name

Breaker Resources NL

Website

https://breakerresources.com.au

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Breaker Resources NL is an ASX-listed (BRB) pre-revenue gold and lithium exploration company headquartered in Perth, developing the 1.7Moz Lake Roe Gold Project on a 700km² greenfields district 100km east of Kalgoorlie, Western Australia, with backing from Electrum, Paulson & Co and Franklin Templeton.

Ownership category

akta.pro rank

Product category

Gold Exploration & Mineral Resource Development

NAICS

Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Gold exploration
• Mineral resource development
• Lithium exploration
• Greenfields gold discovery
• Drilling programs

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Pre-Revenue Exploration: Currently pre-revenue gold exploration company. Future revenue will come from gold production and sales once the Lake Roe Gold Project is developed into a mining operation. The company has received unsolicited approaches from corporates potentially interested in acquisition or joint development.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Breaker Resources NL is a pre-revenue gold and lithium exploration company focused on discovering and developing large new mineral deposits in Western Australia. Its flagship asset is the 100%-owned Lake Roe Gold Project, a 700km² greenfields gold district located 100km east of Kalgoorlie that hosts a 1.7Moz mineral resource at the Bombora deposit. The portfolio also includes the Manna Lithium Project and the Ularring Gold Project, with the company using diamond and RC drilling to expand resources and progress toward future production or corporate transactions.

Product overview

Breaker Resources NL is a gold and lithium exploration company operating in Western Australia. The company's core product is the Lake Roe Gold Project, a 100%-owned, 1.7Moz greenfields gold district. The portfolio includes the flagship Lake Roe Gold Project (featuring the Bombora deposit), the Manna Lithium Project, and the Ularring Gold Project. These projects are at various stages of exploration and development, with the company focused on expanding resources through drilling programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Lake Roe Gold Project Gold exploration project located 100km east of Kalgoorlie, Western Australia, between two operating gold mines, hosting the Bombora deposit and representing a new 700km² greenfields gold district. Developed by Breaker Resources NL for institutional investors, mining corporates, and potential acquirers as a tier-one gold resource in a proven mining jurisdiction.
• Manna Lithium Project Lithium exploration project within the Lake Roe region of Western Australia, confirmed through drilling to host high-grade lithium mineralisation in pegmatite outcrops. Under ongoing drilling and evaluation by Breaker Resources NL to assess lithium resource potential.
• Ularring Gold Project Gold exploration project within Breaker Resources' broader portfolio in the Eastern Goldfields region of Western Australia, contributing to the company's district-scale exploration footprint.

Quantifiable outcome

• 95% gold recovery rate in metallurgical testing for weathered and fresh mineralisation
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Westgold Resources: ASX-listed mid-tier gold producer with multiple operating mines in the Murchison and Southern Cross regions of Western Australia. Direct geological and jurisdictional comparable and a logical strategic acquirer for Breaker's Lake Roe asset.
• Gold Road Resources: Mid-tier ASX gold producer operating the 6.6Moz Gruyere joint venture with Gold Fields, the discovery explicitly cited as the comparable benchmark for Breaker. Representative of the mature end-state Breaker is targeting and a likely acquirer/JV partner profile.
• Silver Lake Resources: ASX-listed WA gold producer operating the Deflector and Mt Monger mines. Represents the same end-state operator profile Breaker is targeting within the Eastern Goldfields region, with directly comparable geological setting.
• Evolution Mining: Mid-tier ASX gold producer with a portfolio of WA and NSW operations. The most likely strategic acquirer for a 1.7Moz WA greenfields asset and an obvious comparable for institutional investors sizing Breaker's take-out value.
• Ramelius Resources: Established ASX gold producer with multiple operating mines in Western Australia. Comparable on geography, commodity and jurisdiction; serves as the reference acquirer profile for junior WA explorers transitioning into production.

Direct peers

• De Grey Mining: ASX-listed WA gold explorer-developer whose Hemi discovery similarly redefined a new district-scale gold system. Direct peer on the greenfields-to-development transition, comparable resource scale, and the same broker/research following on the ASX.
• Capricorn Metals: ASX-listed Western Australian gold explorer/producer advancing the Karlawinda gold project through construction into production. Closely comparable to Breaker as a single-asset WA gold developer at a similar market-cap tier, sharing the same drill-to-develop pathway and investor base.
• Spectrum Metals: Small-cap ASX gold explorer that was acquired by Ramelius Resources in 2020, demonstrating the typical exit path for a junior WA greenfields gold discovery. Highly relevant comparable for Breaker's potential acquisition outcome.
• Bellevue Gold: ASX-listed developer of the high-grade Bellevue gold project in Western Australia. Same product (WA gold), same stage (resource delineation moving toward development), and similar institutional sponsorship profile — a near-direct twin to Breaker's Lake Roe thesis.
• Pantoro Limited: ASX-listed WA gold producer/explorer with operations at the Norseman gold project. Comparable as a single-jurisdiction WA gold developer transitioning from exploration to production, with similar headcount and institutional shareholder dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/breaker-resources-nl

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds4 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 Breaker Resources