Surefire Resources Nl

What Surefire Resources Nl does

Surefire Resources NL is a Perth-headquartered mineral exploration company listed on the ASX (ASX:SRN) and Frankfurt Stock Exchange (FSE:GBL) that holds a diversified portfolio of five exploration projects across Western Australia covering vanadium-titanium-magnetite, gold, iron ore and copper. Its flagship asset is the Victory Bore Critical & Strategic Minerals Project, which holds a JORC-compliant mineral resource of 464.6 million tonnes and a maiden probable ore reserve of 93.1 million tonnes, and is positioned as one of Australia's largest vanadium deposits. The broader portfolio includes the Yidby Gold Project (3 km mineralised corridor, grades up to 82 g/t Au), Kadji Gold Project, Perenjori Iron Ore Project (191.7 Mt @ 36.6% Fe inferred resource), and the Copper Hill Project (anomalous Cu-Zn-Co-Ni soil geochemistry across a 5 km corridor). The company was founded in 1998 with 1-10 employees as of the latest disclosure.

The company's underlying technology centres on a proprietary multi-product processing flow sheet developed for Victory Bore that converts a single vanadium-titanium magnetite concentrate into six distinct high-value products: high-purity vanadium, ferrovanadium, titanium slag, pig iron, high-purity iron oxide pigment and high-grade iron ore, including a breakthrough vanadium extraction step. Process work has also confirmed production of 4N (99.992%) high-purity alumina from Victory Bore aluminium resources. A Pre-Feasibility Study completed in December 2023 demonstrated a Net Present Value of approximately A$1.7 billion, an Internal Rate of Return of 42%, a 24-year mine life and a 2.4-year pre-tax payback period at a planned throughput of 1.25 Mt/year of concentrate. Metallurgical test work at Yidby achieved 97.6% to 99.5% gold recoveries with rapid 2-hour kinetics, and the company reports under JORC 2012.

Surefire Resources operates a pre-revenue business model: future revenue is contingent on advancing projects into production rather than selling current output. Its go-to-market is sales-led and enterprise-oriented, targeting institutional investors, commodity trading groups, and strategic offtake partners through ASX announcements, listed-investor presentations, and participation in events such as 121 Mining Investment, IMARC Sydney and the Future Minerals Forum in Riyadh. Customer development to date includes an Expression of Interest from HMS Bergbau AG for European vanadium and titanium supply, an agreement with the MidWest Ports Authority for Geraldton export logistics, a strategic processing partnership with the Kingdom of Saudi Arabia, an engineering heads of agreement with DRA Global, and a A$3.88 million non-renounceable rights issue in May 2025 to fund further exploration. Heavy technical and engineering work is outsourced to consultants including Snowden Optiro and METS Engineers.

Name

Surefire Resources Nl

Legal name

Surefire Resources NL

Website

https://surefireresources.com.au

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1–10 employees

Short description

Surefire Resources NL is a Perth-based mineral exploration company listed on the ASX that holds a diversified portfolio of Western Australian critical minerals and gold projects, with Victory Bore a flagship among Australia's largest vanadium-titanium-magnetite resources.

Ownership category

akta.pro rank

Product category

Mineral Exploration and Development

NAICS

Other Metal Ore Mining (21229), Iron Ore Mining (212210), Geophysical Surveying and Mapping Services (541360)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090), Gold And Silver Ores (1040)

akta.pro primary industry

Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)

akta.pro secondary industries

Project & Construction Management (EPCM, Owner’s Engineer, Scheduling/Controls) (IMAKAOAG), Iron Ore Mining Support Services (Drilling, Blasting, Contract Mining, Maintenance) (IMAKAAAJ), Iron Ore Exploration & Resource Definition (IMAKAAAA)

Keywords

• Mineral exploration
• Vanadium mining
• Gold exploration
• Critical minerals
• Magnetite iron ore

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Mineral Resource Sales: Pre-revenue exploration stage. Revenue expected from sale of mined and processed commodities (vanadium, titanium, gold, copper, iron ore) once projects reach production. Victory Bore Project projected to produce 1.25 Mt/year of concentrate generating multiple high-value product streams.
2. Offtake Agreements: Securing long-term offtake agreements with European trading groups such as HMS Bergbau AG for critical minerals supply, providing revenue certainty for future production.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Surefire Resources NL is a mineral exploration and development company that holds a diversified portfolio of exploration licences for vanadium, magnetite and gold projects in Western Australia. The company's primary asset is the Victory Bore Critical & Strategic Minerals Project, one of Australia's largest advanced vanadium-titanium projects, supported by a completed Pre-Feasibility Study demonstrating a NPV of approximately A$1.7 billion and IRR of 42%. The portfolio also includes the Yidby Gold Project, Kadji Gold Project, Perenjori Iron Ore Project, and Copper Hill copper-zinc-cobalt project.

Product overview

Surefire Resources NL is a mineral exploration company with a diversified portfolio of five mining projects in Western Australia covering vanadium, magnetite, gold, and copper commodities. The primary strategic focus is the Victory Bore Vanadium Project, a globally significant critical and battery minerals development. The portfolio includes Yidby Gold Project (emerging gold system with 3km strike length), Victory Bore Critical & Strategic Minerals Project (464Mt resource for vanadium-titanium), Kadji Gold Project, Perenjori Iron Ore Project (magnetite), and Copper Hill Project.

Differentiator

Problem solved

Functional benefit

Products and services

• Victory Bore Critical & Strategic Minerals Project Flagship vanadium-titanium-iron development project with a JORC resource of 464.6Mt, maiden ore reserve of 93.1Mt, planned production of 1.25Mt/year of vanadium-titanium magnetite concentrate, projected 24-year mine life, designed to produce six high-value products including high-purity vanadium, ferrovanadium, titanium slag, pig iron, high purity iron oxide pigment, and high-grade iron ore.
• Yidby Gold Project Emerging gold exploration project featuring mineralised zones up to 80m wide extending over a 3km strike length, with high-grade gold intercepts up to 82 g/t and demonstrated metallurgical recoveries of 97.6% to 99.5% via column leach testing.
• Kadji Gold Project Gold exploration project covering banded iron formations and mafic/ultra-mafic greenstone of the Koolanooka Greenstone belt, with significant historical rock chip assays up to 8.05 g/t Au.
• Perenjori Iron Ore Project Magnetite iron ore project based on an Inferred Mineral Resource of 191.7Mt @ 36.6% Fe, capable of producing 67.5% Fe premium magnetite concentrate, located within 15km of rail infrastructure.
• Copper Hill Project Copper-zinc-cobalt exploration project featuring Yidby Copper Project (E59/2426) with anomalous copper-zinc values up to 310 ppm Copper, 1000 ppm Nickel, 100 ppm Zinc, and 100 ppm Cobalt identified across a 5km contiguous anomalous zone.

Quantifiable outcome

• Victory Bore Project Pre-Feasibility Study demonstrates NPV of A$1.7 billion, IRR of 42%, 24-year mine life with 2.4-year payback period
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• HMS Bergbau AGcoreChannel Partner/ Reseller/ Distributor · 21 November 2024German commodities trading group specialising in global marketing and logistics of raw materials with established operations across Europe, Africa, Asia and Middle East. Received Expression of Interest for long-term strategic partnership to supply vanadium and titanium products from Victory Bore Project to Germany and Europe, aiming to diversify Europe's critical mineral sources.
• MidWest Ports AuthoritycoreStrategic or Co-development Partner · 26 August 2024Western Australian ports authority agreement for Victory Bore magnetite concentrate export. Establishes logistics pathway from mine to Geraldton port for bulk mineral export to international markets.
• DRA GlobalcoreImplementation/ SI/ Consulting Partner · 23 August 2024Global engineering firm engaged to develop Australia-Saudi Arabia dual-country processing strategy for Victory Bore Project. Provides engineering expertise for project development and processing plant design.
• Saudi Arabia (Second MoU)coreStrategic or Co-development Partner · 13 March 2024Second memorandum of understanding signed with Saudi Arabia for vanadium project development, expanding strategic relationship and processing capabilities.
• Kingdom of Saudi ArabiacoreStrategic or Co-development Partner · 18 August 2023Landmark processing deal with Kingdom of Saudi Arabia. Surefire listed on Frankfurt Stock Exchange in July 2024 to bolster European interest. Processing partnership synergies noted with HMS Bergbau presence in Middle East.
• VANITECminorStrategic or Co-development PartnerGlobal vanadium technology organisation. Surefire's Victory Bore Project highlighted as potentially playing key role in sustainably strengthening vanadium supply security for energy storage applications.
• METS EngineersminorImplementation/ SI/ Consulting PartnerEngineering consultancy that contributed to Victory Bore Pre-Feasibility Study alongside Snowden Optiro and specialist groups for reliable cost estimates.
• Snowden OptirominorImplementation/ SI/ Consulting PartnerMining consultancy that prepared maiden ore reserve estimate and Pre-Feasibility Study for Victory Bore Project in accordance with JORC Code 2012.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Bushveld Minerals Limited: London-listed (BMN) vertically integrated vanadium producer with operating mines in South Africa and a vanadium electrolyte manufacturing business for VRFBs. Key global benchmark for the vanadium value chain Surefire is targeting and a potential longer-term strategic partner or acquirer.
• Capricorn Metals Ltd: ASX-listed (CMM) mid-cap WA gold producer and explorer. Comparable as a larger, established Western Australian gold operator that demonstrates the value-creation pathway from greenfield gold project to producer, contextualising Surefire's Yidby and Kadji optionality.
• Largo Inc. TSX-listed (LGO) global vanadium producer operating the Maracás Menchen Mine in Brazil and developing the vanadium redox flow battery business (Largo Energy). Comparable as a vertically integrated incumbent establishing downstream VFB offtake, illustrating the strategic end-state Surefire's offtake strategy could pursue.

Direct peers

• TNG Limited: ASX-listed (TNG) developer of the Mount Peake vanadium-titanium-magnetite project in the Northern Territory. Near-perfect comparability because the project targets the same V-Ti-Fe concentrate suite and downstream processing into high-purity vanadium products.
• Vanadium Resources Limited: ASX-listed (VR8) junior developing the Steelpoortdrift vanadium project in South Africa. Comparable as a publicly listed, single-commodity vanadium developer of similar size that is also pursuing downstream processing and offtake partnerships with industrial end-users.
• Technology Metals Australia: ASX-listed (TMT) developer of the Gabanintha vanadium-titanium-magnetite project in Western Australia. Directly comparable as a Western Australian vanadium developer targeting similar downstream processing pathways and critical minerals customers.
• King River Resources: ASX-listed (KRR) explorer developing the Speewah vanadium-titanium project in Western Australia's East Kimberley region. Comparable as another WA-focused vanadium-titanium developer with similar project stage and targeted downstream products including HPA.
• Australian Vanadium Ltd: ASX-listed (AVL) Australian vanadium developer advancing the Australian Vanadium Project in Western Australia. Directly comparable as a pre-revenue WA-focused vanadium explorer at a similar development stage pursuing the same critical minerals and VRFB end-markets.

Emerging players

• Horizon Minerals Limited: ASX-listed (HRZ) mid-tier WA gold developer with a portfolio of near-term production and development assets in the WA goldfields. Comparable in scale and Western Australian focus, particularly relevant as a parallel model for monetising Surefire's Yidby and Kadji gold assets.
• Mount Gibson Iron Limited: ASX-listed (MGX) Western Australian iron ore producer with magnetite operations in the Mid West region. Directly relevant peer for Surefire's Perenjori magnetite project given shared Mid West infrastructure footprint, port access strategy, and magnetite product focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

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 Surefire Resources Nl