Peel Mining
Peel Mining Limited (ASX: PEX) is a pre-revenue Australian base and precious metals exploration company controlling ~4,600km² in NSW with a ~20MT polymetallic resource base across the South Cobar and Curnamona projects, currently being acquired by Aeris Resources for A$214 million.
- Company typePublic
- Founded2010
- HeadquartersPerth, Australia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Peel Mining does
Peel Mining Limited (ASX: PEX) is an advanced Australian base and precious metals exploration company headquartered in Subiaco, Western Australia, with a regional office in Sydney, New South Wales. Founded in 2010, the company controls approximately 4,600km² of contiguous mineral tenure across two of Australia's most prospective polymetallic regions: the South Cobar Project (~3,400km², NSW) and the Curnamona Project (~1,200km², Broken Hill district, NSW). The South Cobar Project integrates four defined deposits—Mallee Bull (high-grade copper at 1.78% Cu), Wirlong (copper-silver at 1.75% Cu), Southern Nights/Wagga Tank (zinc-lead-silver), and May Day (gold-silver polymetallic)—with a combined JORC-compliant resource base of approximately 20 million tonnes containing 216kt copper, 322kt zinc, 151kt lead, 22Moz silver, and 204koz gold.
The company's technical approach relies on traditional mineral exploration methods, including airborne electromagnetic geophysical surveys, ground-based induced polarization and magnetic surveys, and more than 334km of cumulative drilling since 2010. Resource estimation follows JORC Code (2012) standards using Deswik mining software for mineable shape creation and NSR cut-off calculations. Peel has secured NSW government approval for underground exploration decline development and is advancing environmental and development studies to underpin a planned strategic processing hub intended to serve multiple satellite deposits under a hub-and-spoke model.
Peel is pre-revenue and generates no product revenue; its monetization pathway is through strategic corporate transactions rather than operating cash flow. The company has executed one material farm-in agreement (CBH Resources, 2012) which it subsequently unwound in 2020 to regain 100% control of Mallee Bull and May Day. In June 2026, the Supreme Court of New South Wales approved a scheme of arrangement under which Aeris Resources Limited will acquire 100% of Peel Mining for approximately A$214 million at a 46% premium to Peel's last closing price, combining Aeris's Tritton copper complex with Peel's South Cobar assets to create a combined 29.5Mt at 1.73% copper resource base. Implementation is expected on 1 July 2026, inter-conditional with the demerger of Spectre Metals Limited, which will retain Peel's Cobar Basin exploration upside and be distributed pro rata to Peel shareholders.
Peel Mining firmographics
Firmographics- Name
- Peel Mining
- Legal name
- Peel Mining Limited
- Website
- https://peelmining.com.au
- Company type
- Public
- Founded year
- 2010
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- Peel Mining Limited (ASX: PEX) is a pre-revenue Australian base and precious metals exploration company controlling ~4,600km² in NSW with a ~20MT polymetallic resource base across the South Cobar and Curnamona projects, currently being acquired by Aeris Resources for A$214 million.
- Ownership category
- akta.pro rank
Peel Mining industry classification
Industry- Product category
- Mineral Exploration
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (21222), Other Metal Ore Mining (212290)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040), Miscellaneous Metal Ores (1090)
- akta.pro primary industry
- Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)
- akta.pro secondary industry
- Exploration & Resource Development (Critical Minerals) (IMAKAFAL)
Keywords
Where Peel Mining is headquartered
LocationHeadquarters
- HQ city
- Perth
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Peel Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Mineral Resource Development: Pre-revenue exploration stage company. Expected to generate revenue through development and mining of copper, zinc, lead, silver, and gold deposits. The company was in the process of completing development and environmental studies on its South Cobar Project prior to the Aeris Resources acquisition.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Peel Mining product offering
Product offeringCore offering
Peel Mining is a pre-revenue base and precious metals exploration company that explores for, defines, and develops copper, zinc, lead, silver and gold mineral resources in New South Wales, Australia. Its principal asset is the South Cobar Project, which integrates four deposits (Mallee Bull, Wirlong, Southern Nights/Wagga Tank, May Day) supported by a planned hub-and-spoke processing model, alongside the Curnamona Project exploration package covering Broken Hill district tenure.
Product overview
Peel Mining Limited is an advanced base and precious metals exploration company with a primary focus on copper. The company operates a portfolio of projects across two of Australia's most prospective polymetallic regions: the South Cobar Project and the Curnamona Project. The South Cobar Project serves as the core asset, integrating four distinct deposits—Mallee Bull (high-grade copper), Wirlong (copper-silver), Southern Nights/Wagga Tank (zinc-lead-silver), and May Day (gold-silver-zinc-lead)—into a unified development strategy centered on a planned strategic processing hub. The Curnamona Project provides exploration upside in the Broken Hill district. The combined South Cobar resource base stands at approximately 20Mt containing copper, zinc, lead, silver, and gold resources.
Differentiator
Problem solved
Functional benefit
Products and services
- Mallee Bull Project High-grade copper deposit located 100km south of Cobar in NSW, with indicated and inferred mineral resources of 7.01 million tonnes at 1.78% copper containing approximately 125,000 tonnes of copper, 6.47 million ounces of silver and 85,000 ounces of gold. One of the highest-grade undeveloped copper deposits in Australia, targeted at the global copper and clean energy transition market.
- Wirlong Project High-grade copper-silver project located ~75km south of Cobar, NSW, with mineral resources of 4.3 million tonnes at 1.75% copper and 6g/t silver containing approximately 75,000 tonnes of copper and 840,000 ounces of silver. A classic Cobar-style Cu-Ag deposit with mineralisation from ~60m below surface to over 600m depth.
- Southern Nights / Wagga Tank Project Extensive high-grade zinc-lead-silver deposit located 130km south of Cobar, NSW, with mineral resources of 9.99 million tonnes at 0.35% copper, 0.41 g/t gold, 52 g/t silver, 1.19% lead and 2.78% zinc — one of the most significant zinc polymetallic discoveries in Australia's recent years.
- May Day Project Gold-silver-zinc-lead project located 105km south-southeast of Cobar, NSW, with mineral resources of 1.61 million tonnes at 0.98 g/t gold, 25 g/t silver, 0.92% zinc and 0.61% lead, containing approximately 51,000 ounces of gold, 1,300,000 ounces of silver, 14,800t zinc and 9,800t lead.
- Curnamona Project Exploration project located in western NSW within the prospective Broken Hill district, covering approximately 1,200 sq km of the underexplored Mundi Mundi region. The project is considered part of the IOCG 'super province' and targets epigenetic Cu-Au-Mo mineralization and Broken Hill-type stratiform Pb-Zn-Ag mineralization.
- South Cobar Project Integrated polymetallic development project combining the Mallee Bull, Wirlong, Southern Nights-Wagga Tank and May Day deposits in 100%-owned NSW tenure, hosting a combined ~20Mt of resources containing 216kt copper, 322kt zinc, 151kt lead, 22Moz silver and 204koz gold, with Peel advancing development and environmental studies for a strategic processing hub.
Quantifiable outcome
- 46% premium to Peel Mining's last closing price in Aeris acquisition
- +3 more outcomes
Companies that use Peel Mining
Customer profileSegments2 records
Ideal customer profiles2 records
Peel Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Peel Mining partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Aeris Resources LimitedcoreAeris Resources Limited is acquiring 100% of Peel Mining's issued shares via scheme of arrangement valued at approximately A$214 million. The transaction combines Aeris's Tritton copper complex with Peel's South Cobar copper project to create a larger mid-tier copper and gold producer with combined resources of 29.5 million tonnes at 1.73% copper. Peel shareholders receive 0.3363 Aeris shares plus one NewCo share per 4.6 Peel shares held.
- Spectre Metals LimitedcoreSpectre Metals Limited is being demerged from Peel Mining as part of the Aeris Resources acquisition. It will retain Peel's precious and base metal assets in the Cobar Basin and be distributed pro rata to Peel shareholders as part of the NewCo structure.
Scale indicators6 records
Recent moves8 records
Expansion highlights4 records
Peel Mining competitors and assessment
Company assessmentDirect peers
- Emmerson Resources: ASX-listed (ASX:ERM) NSW-focused gold and copper explorer operating in the Cobar/Macquarie Arc. Comparable to Peel as a junior NSW polymetallic explorer reliant on discovery success and strategic transactions to monetise resources.
- Aeris Resources: ASX-listed copper miner operating the Tritton Copper Operations in the Cobar Basin; is directly acquiring Peel Mining via scheme of arrangement for A$214M, making it the most direct comparable as a Cobar-focused copper producer with adjacent tenement holdings.
- CBH Resources: Historical JV partner on the Mallee Bull and May Day projects (Peel exercised pre-emptive rights in 2020 to regain 100%). Active in NSW base metals, including the Endeavor mine in Cobar, and a direct structural counterparty to Peel on the same deposits.
- Aurelia Metals: ASX-listed base and precious metals miner with the Peak and Hera operations in the Cobar Basin. Directly comparable to Peel as a polymetallic producer/explorer in the same world-class Cobar mining district with overlapping copper-zinc-lead-silver-gold exposure.
- Polymetals Resources: Australian-listed (ASX:POL) precious and base metals explorer-developer operating in the Cobar and Lachlan Fold Belt regions. Directly comparable in scale, geography and commodity mix (Cu-Zn-Pb-Ag-Au) to Peel's South Cobar Project.
Broad incumbents
- St Barbara: ASX-listed gold producer (Leonora operations, WA) with a track record of M&A and growth. Comparable to Peel as an Australian precious metals-focused miner with a development/exploration pipeline including copper exposure.
- Sandfire Resources: ASX-listed mid-tier copper-gold producer with the DeGrussa mine (WA) and Cobar Basin exposure. Comparable as a copper-focused mid-tier with Australian operating footprint, with similar commodity profile (Cu-Au with by-products) to the South Cobar Project.
- BHP: Global diversified major with Olympic Dam (Cu-Au-U) and significant NSW/Qld exploration activity. Comparable as the dominant incumbent in Australian copper and as the natural long-term acquirer of advanced copper assets such as Peel's South Cobar Project.
Regional players
- Alkane Resources: ASX-listed gold and copper-focused explorer-producer in NSW and WA (e.g., Tomingley, Boda). Comparable as an Australian polymetallic explorer-developer at a similar stage of advancing NSW assets toward production, with overlapping geological terrane exposure.
Emerging players
- Cobalt Blue Holdings: ASX-listed (ASX:COB) critical minerals explorer-developer at the Broken Hill Cobalt Project (same district as Peel's Curnamona Project). Comparable as an ASX junior exploring for battery/critical minerals in NSW with project economics heavily dependent on a single large-scale development.
Market position
Strengths5 records
Weaknesses6 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Peel Mining social profiles
Digital presencePeel Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Peel Mining leadership team
Management profileNumber of profiles
Profiles7 records
Peel Mining subsidiaries and ownership
Company hierarchySubsidiaries1 record
Peel Mining funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Peel Mining 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 Peel Mining
What does Peel Mining do?
Peel Mining is a pre-revenue base and precious metals exploration company that explores for, defines, and develops copper, zinc, lead, silver and gold mineral resources in New South Wales, Australia. Its principal asset is the South Cobar Project, which integrates four deposits (Mallee Bull, Wirlong, Southern Nights/Wagga Tank, May Day) supported by a planned hub-and-spoke processing model, alongside the Curnamona Project exploration package covering Broken Hill district tenure.
Is Peel Mining a public or private company?
Peel Mining is a public company. It is classified as public and is currently acquired.
When was Peel Mining founded?
Peel Mining was founded in 2010. It employs 11 to 50 people.
Where is Peel Mining based?
Peel Mining is headquartered in Perth, Australia, in the Oceania region.
How does Peel Mining make money?
One revenue line is on record: mineral Resource Development.
Who are Peel Mining's main competitors?
Direct peers on record are Emmerson Resources, Aeris Resources, CBH Resources, Aurelia Metals and Polymetals Resources. Broad incumbents are St Barbara, Sandfire Resources and BHP. Alkane Resources is listed as a regional player. Cobalt Blue Holdings is listed as an emerging player.
Does Peel Mining have an API?
No public API is recorded for Peel Mining.
What industry is Peel Mining in?
Peel Mining's product category is Mineral Exploration. Its primary akta.pro industry code is IMAKADAB, Copper Ore Mining (Open-Pit & Underground), with a secondary code of IMAKAFAL, Exploration & Resource Development (Critical Minerals). Its NAICS code is 212230 and its SIC code is 1000.