What Lachlan Star does

Lachlan Star Limited (ASX: LSA) is an Australian copper and gold exploration company headquartered in West Perth, Western Australia. The company's core offering is a portfolio of mineral exploration projects rather than a unified product platform. Its key assets are the New Waverley Gold Project (90% interest, ~40km² in the Norseman region of WA) and the Killaloe Project (in the Eastern Goldfields of WA), supplemented by the North Cobar, Junee, Basin Creek, and Bauloora North projects in New South Wales, plus the Koojan Project in WA and the Princhester Magnesite Project in Queensland. The underlying technology is conventional mineral exploration — diamond drilling, reverse circulation drilling, surface geochemistry, and geophysical surveys — directed at high-grade quartz reef gold systems and disseminated copper sulphide systems within established Australian mineral provinces (Lachlan Fold Belt, Eastern Goldfields). Notable historic intercepts include 0.65m at 77.3g/t Au and 4m at 13.83g/t Au at New Waverley, and 21.3m at 4.51% Cu at Basin Creek.

The business model is a pre-revenue exploration-stage model. Lachlan Star does not sell products or services; instead, it generates (or seeks to generate) shareholder value through mineral discovery, after which the company may (1) develop resources into producing mines, (2) sell tenements or assets to larger mining companies, or (3) enter joint venture or earn-in arrangements with partners. The customer base is therefore not retail or enterprise buyers but rather major and mid-tier mining companies as potential acquirers or JV partners, alongside public market investors on the ASX. The company is lean (1-10 employees), with 368,323,195 listed ordinary shares and approximately A$7.47M raised in April 2026 to fund exploration at New Waverley. GTM is investor-relations-led: ASX announcements, investor presentations at Resources Rising Stars and Bell Potter Unearthed, YouTube media, and LinkedIn — all targeting shareholder interest rather than commercial customers.

Name

Lachlan Star

Legal name

Lachlan Star Limited

Website

https://lachlanstar.com

Company type

Public

Founded year

1970

Operating status

Operating

Headcount range

1–10 employees

Short description

Lachlan Star Limited (ASX: LSA) is a pre-revenue Australian copper and gold exploration company operating a portfolio of projects across Western Australia, New South Wales, and Queensland. It targets major and mid-tier miners as potential acquirers or joint venture partners.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (21222), Metal Ore Mining (2122)

SIC

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

akta.pro primary industry

Gold Mining (IMAKAEAA)

Keywords

• Mineral exploration services
• Gold exploration projects
• Copper exploration projects
• Mining resource development
• Exploration drilling programs

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Exploration Stage - Pre-Revenue: Lachlan Star is a pre-revenue exploration company. Revenue generation would occur through discovery and either (1) development of resources into producing mines, (2) sale of tenements/assets to larger miners, or (3) joint venture arrangements with partners funding earn-in agreements. The company completed a $7.47M capital raising in April 2026 to accelerate New Waverley exploration.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Lachlan Star Limited is a copper and gold exploration company that operates a portfolio of mineral exploration projects across Australia's proven mineral provinces. The company conducts diamond drilling, reverse circulation drilling, and geological/geophysical surveys to identify, delineate, and advance gold and copper resources, with the goal of developing assets internally, selling them to larger miners, or forming joint venture/earn-in arrangements. Its key projects include New Waverley (90% WA), Killaloe (WA), North Cobar (NSW), and the Junee/Basin Creek copper-gold projects (NSW).

Product overview

Lachlan Star Limited is a copper and gold exploration company offering a portfolio of exploration projects rather than a unified product platform. The company's core offering consists of its exploration project portfolio, which includes the New Waverley Gold Project (90% ownership, WA) and Killaloe Project (100%/80%, WA) in the Eastern Goldfields of Western Australia, the North Cobar Project (100%, NSW) and Junee Project (100%, NSW) in the Cobar Basin and Macquarie Arc of New South Wales, and the Basin Creek Prospect within Junee. Additional projects include the Koojan Project (WA), Princhester Magnesite Project (Queensland), and Bauloora North Project (NSW). Each project represents a distinct exploration target at various stages of advancement, from early-stage greenfields to drill-ready opportunities.

Differentiator

Problem solved

Functional benefit

Products and services

• New Waverley Gold Project Gold exploration project located approximately 16km north-east of Norseman, Western Australia, adjacent to Pantoro Gold Limited's Norseman Gold Project. The ~40km² contiguous tenement package includes two Mining Leases containing historical Waverley and Trial Pit workings, with high-grade quartz reef gold mineralisation confirmed to remain open down-plunge and along strike. Lachlan Star holds 90% ownership.
• Killaloe Gold and Nickel Project Gold and nickel exploration project located within the Eastern Goldfields of Western Australia, approximately 20km northeast of Norseman. The project comprises two exploration licences and a mining licence covering 94km² within the Kambalda Domain (9.8Moz gold endowment), transected by the regionally extensive Zuleika Shear. Lachlan Star holds 100% (with 80% on certain portions).
• North Cobar Project Copper and gold exploration project in central New South Wales, positioned along the strike of the CSA Mine and northern extension of the Rookery Fault corridor. Located immediately north of the Cobar Mining District along major metalliferous fault systems associated with several major copper, gold and base metal mines. Lachlan Star holds 100%.
• Junee Project (Basin Creek Prospect) Copper-gold exploration project situated within the Lachlan Fold Belt's Macquarie Arc province, positioned over the southern extension of the Junee-Narcomine Volcanic Belt. Covers over 20km of strike with favourable host rock stratigraphy, exhibiting potential for porphyry Cu-Au, low-sulphidation Au-Ag, and shear-hosted Au systems. Includes the Basin Creek Prospect with historic drillcore intercepts including 21.3m at 4.51% copper and 4.6m at 18.54% copper. Lachlan Star holds 100%.
• Koojan Project Exploration project located in the northern Julimar Province of Western Australia.
• Princhester Magnesite Project Magnesite exploration project located in Queensland's New England Orogen.
• Bauloora North Project Exploration project within the Macquarie Arc region of New South Wales, covering the northern extension of the Bauloora gold-copper system.

Quantifiable outcome

• High-grade intercepts including 0.65m at 77.3g/t Au and 4m at 13.83g/t Au at New Waverley
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Genesis Minerals Limited: ASX-listed WA gold producer; Lachlan Star's Chairman Tony Kiernan is a former NED. Comparable as a mid-tier acquirer profile and as a peer capital-structure benchmark for Lachlan Star's transition from explorer to developer.
• Northern Star Resources Limited: Major Australian gold producer; Alan Thom and Tony Kiernan have both held senior roles there. Comparable as a dominant WA gold acquirer and the natural endpoint buyer for any multi-million-ounce discovery at New Waverley or Killaloe.
• Gold Road Resources Limited: Mid-tier Australian gold producer operating the Gruyere JV in WA; Lachlan Star's CEO Andrew Tyrrell previously held senior positions at Gold Road. Comparable as a peer gold company and potential strategic acquirer in the Eastern Goldfields region.
• Ramelius Resources Limited: Mid-tier Australian gold producer operating in WA; Lachlan Star's Chief Development Officer Alan Thom previously served as CDO at Ramelius. Comparable as a logical acquirer of any Lachlan Star discovery given overlapping WA infrastructure.
• Dacian Gold Limited: ASX-listed gold company operating the Mt Morgans project in WA; Tony Kiernan is a former director. Comparable as a WA gold peer and potential consolidation partner for Lachlan Star's Eastern Goldfields assets.

Direct peers

• Pantoro Limited: Operator of the Norseman Gold Project immediately adjacent to Lachlan Star's New Waverley tenement. Pantoro is the closest geographic and geological peer and the most likely acquirer/JV partner for any discovery in the Norseman-Waverley corridor.
• Devex Resources Limited: Holds ~22% of Lachlan Star and is itself a junior gold/copper explorer focused on similar NSW tenements. Devex is a directly comparable Australian junior explorer with overlapping commodity focus and strategic alignment to Lachlan Star.
• Venturex Resources: ASX-listed base-metals and gold explorer; Tony Kiernan is a former director. Comparable as a junior peer with multi-commodity exposure in similar Australian jurisdictions and similar capital-structure dynamics.

Emerging players

• Tesoro Gold Limited: ASX-listed junior gold explorer with projects in Chile and Western Australia. Comparable as a small-cap, drill-stage gold peer facing the same financing and commodity-price dynamics as Lachlan Star.
• Corazon Mining Limited: ASX-listed junior focused on copper-gold exploration in NSW and WA. Comparable as a small-cap peer in similar Lachlan Fold Belt / Cobar geology with comparable capital structure and exploration-stage risk profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@lachlanstarlimited
• LinkedInlinkedin.com/company/lachlanstarlimited

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

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 Lachlan Star