Scorpion Minerals Limited
Scorpion Minerals Limited (ASX:SCN) is a pre-revenue Australian mineral exploration and resource development company targeting gold, lithium, PGE-Ni-Cu, iron ore, and VMS Cu-Zn-Ag-Au deposits across approximately 1,520 km² in the Murchison Province of Western Australia.
- Company typePublic
- Founded2021
- HeadquartersPerth, Australia
- Headcount1–10
- GTM typeB2B
- OfferingServices
Scorpion Minerals Limited firmographics
Firmographics- Name
- Scorpion Minerals Limited
- Legal name
- Scorpion Minerals Limited
- Website
- https://scorpionminerals.com.au
- Company type
- Public
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Scorpion Minerals Limited (ASX:SCN) is a pre-revenue Australian mineral exploration and resource development company targeting gold, lithium, PGE-Ni-Cu, iron ore, and VMS Cu-Zn-Ag-Au deposits across approximately 1,520 km² in the Murchison Province of Western Australia.
- Ownership category
- akta.pro rank
Scorpion Minerals Limited industry classification
Industry- Product category
- Mineral Exploration Services
- NAICS
- Support Activities for Metal Mining (213114), Gold Ore and Silver Ore Mining (21222)
- SIC
- Metal Mining (1000)
- akta.pro primary industry
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)
- akta.pro secondary industry
- Exploration & Resource Development (Critical Minerals) (IMAKAFAL)
Keywords
Where Scorpion Minerals Limited is headquartered
LocationHeadquarters
- HQ city
- Perth
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Scorpion Minerals Limited business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Mineral Exploration and Resource Development: Scorpion Minerals is a pre-revenue mineral exploration and resource development company. It has no current operating mines or revenue-generating production. The company funds operations through equity capital raisings on the ASX, including placements, option conversions, and strategic funding arrangements. Future revenue is contingent on successful exploration leading to mine development and production or sale of assets/tenements.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
Scorpion Minerals Limited product offering
Product offeringCore offering
Scorpion Minerals is an Australian, ASX-listed mineral exploration and resource development company that discovers and delineates multi-commodity mineral deposits (gold, lithium, PGE-Ni-Cu, iron ore and VMS Cu-Zn-Ag-Au) in the Murchison Province of Western Australia. Its principal assets are the Pharos Project (100% owned, 822 km²) and Jungar Flats Project JV (70% owned, ~700 km²), with defined JORC 2012 resources at Mt Mulcahy and Old Prospect. The company is pre-revenue, funding operations through ASX equity raisings, with future returns contingent on mine development, JV/offtake, or asset sales.
Product overview
Scorpion Minerals Limited (ASX:SCN) is an Australian mineral exploration and resource development company focused on discovering world-class mineral deposits. The company's primary assets are the Pharos Project (100% owned, 822 km2) and the Jungar Flats Project JV (70% owned, ~700 km2), located in the Murchison Province of Western Australia. These projects collectively cover approximately 1520 km2 and target multiple commodities including gold, lithium, PGE-Ni-Cu, iron ore, and VMS-hosted Cu-Zn-Ag-Au mineralisation. Key exploration targets include the Mt Mulcahy deposit (647kt @ 2.4% Cu, 1.8% Zn), Old Prospect gold resource (312,400t @ 2.15 g/t Au for 21,600 oz), Poona Area LCT pegmatites (50km corridor), and the Pallas PGE-Ni-Cu target. The company also holds the Kirkalocka Project (111 km2) and operates the Pharos Iron Ore JV with Fenix Resources. The diversified portfolio spans copper-zinc-silver-gold VMS deposits, orogenic gold targets, lithium-caesium-tantalum pegmatites, and iron ore.
Differentiator
Problem solved
Functional benefit
Products and services
- Pharos Project
Quantifiable outcome
- South Limb Pod Resource: 647,000t @ 2.4% Cu, 1.8% Zn, 0.1% Co, 20g/t Ag (15.2 kt Cu metal)
- +3 more outcomes
Companies that use Scorpion Minerals Limited
Customer profileSegments1 record
Ideal customer profiles2 records
Scorpion Minerals Limited technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Scorpion Minerals Limited partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- GreatPowercoreStrategic MOU signed with GreatPower to advance Scorpion's Western Australian Lithium Business. The MOU was announced via ASX on 11 November 2025, following the Murchison Gold Strategy and strategic ground acquisition announcements. GreatPower is expected to support the development of SCN's lithium assets, potentially including offtake arrangements.
- OZZ ResourcesminorScorpion Minerals agreed to acquire Old Prospect tenements from OZZ Resources within its Pharos Gold Project in Western Australia. This acquisition was one of three Australian-listed mining acquisitions finalised as noted in the M&A report covering 2025.
- SunwodaminorScorpion signed an MOU with Sunwoda at the Youanmi project (July 2023). Sunwoda is a battery manufacturer. The MOU was part of SCN's efforts to establish offtake partnerships for its lithium assets. Youanmi drilling confirmed 3 km of LCT pegmatites strike with high-grade lithium results up to 2.36% Li2O.
- Fenix Resources Limited (ASX: FEX)coreScorpion Minerals agreed an exploration programme with Fenix Resources for the Iron Ore JV at its Pharos Project. The JV area totals around 373 km² and is immediately adjacent and contiguous to Fenix's Iron Ridge operation, with iron ore targets totalling 15 strike kilometres already identified. Scorpion manages, plans and executes the early phase exploration including airborne photography/magnetics, geological mapping, rock chip sampling, and RC drilling. Fenix holds iron ore rights while SCN retains other mineral rights.
- Gylden ResourcesminorThe Kirkalocka Project is located southeast of Gylden Resources' Kirkalocka Processing Plant, providing Scorpion with a highly strategic processing solution via toll milling. This is a geographic/proximity advantage rather than a formal partnership agreement.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
Scorpion Minerals Limited competitors and assessment
Company assessmentBroad incumbents
- Ramelius Resources Limited: ASX-listed (RMS) mid-tier gold producer that acquired Breaker Resources. Operates in the Murchison region and is a logical acquirer of advanced WA gold assets like SCN's Old Prospect.
- Allkem Limited (formerly Galaxy Resources): Global lithium producer formed via Galaxy/Orocobre merger — the fifth-largest global lithium producer. Galaxy Resources (founding vehicle of SCN's CEO) is a direct antecedent, making this the most relevant strategic benchmark for the lithium corridor thesis.
Direct peers
- Kingsland Minerals Limited: ASX-listed (KNG) early-stage gold and lithium explorer with a similar Murchison-region focus. Most closely comparable on headcount, stage, and the multi-commodity junior explorer model.
- Fenix Resources Limited: ASX-listed (FEX) iron ore producer and JV partner on the Pharos Iron Ore JV (~373 km²). Most directly comparable: a small WA-focused minerals company operating adjacent to SCN's ground with a mix of operating production and exploration upside.
- Wildcat Resources Limited: ASX-listed (WC8) lithium and gold explorer in WA. Comparable as a small-cap, multi-commodity WA junior with both lithium and gold exposure — closest peer for the dual-commodity strategy.
- OZZ Resources Limited: ASX-listed (OZZ) WA-focused gold explorer; sold the Old Prospect tenements to SCN in 2025. Closely comparable scale and WA gold exploration focus.
- Great Boulder Resources Limited: ASX-listed WA gold and base metals explorer (formerly known as Great Boulder Mines) operating in similar Murchison/WA gold terrain. Closely comparable size, commodity focus and pre-resource stage.
Regional players
- Capricorn Metals Limited: ASX-listed (CMM) gold developer/producer with projects in WA. Comparable in commodity and region; useful as a benchmark for what a successful Murchison gold asset transition looks like at production stage.
- Breaker Resources NL: Pre-takeover WA gold explorer in the Murchison region, taken over by Ramelius Resources for ~A$130M in 2023. Strongly comparable scale and commodity focus; SCN's Non-Executive Chairman Mike Kitney was previously a director, providing direct strategic benchmarking.
Emerging players
- Liontown Resources Limited: ASX-listed (LTR) lithium developer that advanced the Kathleen Valley project. CEO Michael Fotios was a long-term substantial shareholder during the development phase, making this the most directly comparable lithium development analogue.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Scorpion Minerals Limited social profiles
Digital presenceScorpion Minerals Limited financial estimates
Financial estimateRevenue estimate
Valuation estimate
Scorpion Minerals Limited leadership team
Management profileNumber of profiles
Profiles5 records
Scorpion Minerals Limited subsidiaries and ownership
Company hierarchySubsidiaries2 records
Scorpion Minerals Limited funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Scorpion Minerals Limited M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Scorpion Minerals Limited
What does Scorpion Minerals Limited do?
Scorpion Minerals is an Australian, ASX-listed mineral exploration and resource development company that discovers and delineates multi-commodity mineral deposits (gold, lithium, PGE-Ni-Cu, iron ore and VMS Cu-Zn-Ag-Au) in the Murchison Province of Western Australia. Its principal assets are the Pharos Project (100% owned, 822 km²) and Jungar Flats Project JV (70% owned, ~700 km²), with defined JORC 2012 resources at Mt Mulcahy and Old Prospect. The company is pre-revenue, funding operations through ASX equity raisings, with future returns contingent on mine development, JV/offtake, or asset sales.
Is Scorpion Minerals Limited a public or private company?
Scorpion Minerals Limited is a public company. It is classified as public and is currently operating.
When was Scorpion Minerals Limited founded?
Scorpion Minerals Limited was founded in 2021. It employs 1 to 10 people.
Where is Scorpion Minerals Limited based?
Scorpion Minerals Limited is headquartered in Perth, Australia, in the Oceania region.
How does Scorpion Minerals Limited make money?
One revenue line is on record: mineral Exploration and Resource Development.
Who are Scorpion Minerals Limited's main competitors?
Broad incumbents on record are Ramelius Resources Limited and Allkem Limited (formerly Galaxy Resources). Direct peers are Kingsland Minerals Limited, Fenix Resources Limited, Wildcat Resources Limited, OZZ Resources Limited and Great Boulder Resources Limited. Regional players are Capricorn Metals Limited and Breaker Resources NL. Liontown Resources Limited is listed as an emerging player.
Does Scorpion Minerals Limited have an API?
No public API is recorded for Scorpion Minerals Limited.
What industry is Scorpion Minerals Limited in?
Scorpion Minerals Limited's product category is Mineral Exploration Services. Its primary akta.pro industry code is IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling), with a secondary code of IMAKAFAL, Exploration & Resource Development (Critical Minerals). Its NAICS code is 213114 and its SIC code is 1000.