What Augustus Minerals does

Augustus Minerals Limited (ASX: AUG) is a pre-revenue mineral exploration company headquartered in West Perth, Western Australia, founded in 2021 and listed on the ASX in May 2023. The company holds a diversified tenement portfolio targeting gold, copper, uranium, lithium, rare earths, and nickel-copper-PGE mineralisation. Its core assets are the Ti-Tree Shear Project, covering approximately 3,600km² of granted and under-application tenements in the Gascoyne Province targeting copper-gold-uranium and critical minerals, and the Music Well Gold Project, covering 1,242km² in the Northeastern Goldfields targeting Yilgarn Craton gold. A third asset, the Mt Kare Gold Project in Papua New Guinea, is held via a licence application following a completed Sale and Purchase Agreement.

The company employs conventional mineral exploration technology augmented by AI-assisted target generation, including reverse circulation (RC) and diamond drilling, airborne VTEM electromagnetic surveys, and large-scale soil geochemistry sampling (1,173 samples at Ti-Tree). AI has been specifically applied to define 18 new gold targets at Music Well. Exploration results to date include high-grade copper rock chips of up to 35% Cu and 10g/t Au at Ti-Tree, gold intersections up to 50g/t Au at Music Well, and a copper zone grading up to 3% over 1km, though these remain drill results rather than defined resources.

Augustus operates a capital-intensive, pre-revenue business model with no commercial products or pricing. The company funds exploration entirely through equity issuance on the ASX, with cumulative disclosed raises of approximately A$8.1 million across 2024-2026, and distributes information to investors and shareholders via ASX announcements, investor presentations, a corporate website, email alerts, YouTube, and Twitter/X. Its end customers are institutional, sophisticated, and retail investors seeking exposure to gold and critical minerals exploration. Recent corporate activity includes a Music Well acquisition (November 2024), PNG expansion (May 2025), and significant leadership turnover with CEO and board changes through 2025-2026.

Name

Augustus Minerals

Legal name

Augustus Minerals Limited

Website

https://augustusminerals.com.au

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Augustus Minerals Limited (ASX: AUG) is a pre-revenue Australian mineral exploration company exploring for gold, copper, uranium, lithium, and rare earths across large tenement holdings in Western Australia, with projects in the Gascoyne Province, Northeastern Goldfields, and Papua New Guinea, funded through ASX equity raises.

Ownership category

akta.pro rank

Product category

Mineral Exploration Services

NAICS

Support Activities for Metal Mining (213114), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

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

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

akta.pro secondary industries

Copper Exploration & Resource Development (IMAKADAA), Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Precious Metals Exploration & Project Development (IMAKAEAI)

Keywords

• Mineral exploration
• Gold exploration
• Copper exploration
• Critical minerals
• Uranium exploration

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Pre-Revenue Exploration Stage: Augustus Minerals is a pre-revenue mineral exploration company. The company is currently in the exploration phase and has not yet generated any revenue from its mining projects. The company raises capital through equity issuances on the ASX to fund exploration activities with the goal of discovering commercially viable mineral deposits.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Augustus Minerals is a mineral exploration company that explores for and develops copper, gold, nickel, uranium, lithium, rare earths, and nickel-copper-PGE resources across large tenement holdings in Western Australia and Papua New Guinea. The company conducts RC and diamond drilling, VTEM airborne electromagnetic surveys, soil geochemistry programs, and AI-assisted target generation to identify and advance mineral discoveries.

Product overview

Augustus Minerals Limited is a mineral exploration company with a diversified portfolio of projects targeting multiple commodities including gold, copper, uranium, rare earths, lithium, and nickel-copper-PGE's. The company operates across two main project areas: the Music Well Gold Project (1,242km²) in the Northeastern Goldfields targeting gold in the Yilgarn Craton, and the Ti-Tree Shear Project (approximately 3,600km²) in the Gascoyne Province targeting copper, gold, uranium, rare earths, and lithium. The company also holds the Mt Kare Gold Project in Papua New Guinea. The portfolio offers exposure to both gold and critical minerals across Western Australia.

Differentiator

Problem solved

Functional benefit

Products and services

• Music Well Gold Project Gold exploration project covering 1,242km² of tenure located 45km southeast of Leinster in the Northeastern Goldfields of Western Australia, targeting gold discoveries in the Yilgarn Craton. AI technology has been used to define 18 new gold targets at the project.
• Ti-Tree Shear Project Large-scale exploration project covering approximately 3,600km² of granted and under application tenements in the Gascoyne Province of Western Australia, located about 200km inland from Carnarvon. Targets copper, gold, uranium, rare earths, lithium, and nickel-copper-PGE mineralisation. VTEM airborne electromagnetic surveys and soil sampling programs have been used to identify drill targets.
• Mt Kare Gold Project Gold exploration project located in Papua New Guinea (PNG), with Augustus Minerals having secured the Vanapa River tenement application. Represents the company's international expansion beyond Western Australia.

Quantifiable outcome

• High-grade gold intersections up to 50g/t Au at Music Well Project
• +3 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

Partnerships

One partnership is on record.

• PNG Government / Mt KarecoreOthers · 9 May 2025Augustus Minerals is securing a licence application for the Mt Kare Gold Project in Papua New Guinea. The company completed a Sale and Purchase Agreement (SPA) and the application has moved to second in line for processing. This represents the company's expansion beyond Western Australia into international jurisdictions.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Ramelius Resources: Established ASX-listed gold producer with significant WA operations. Comparable as a senior WA gold incumbent that could plausibly view Augustus as a future M&A or farm-in target.
• Capricorn Metals: ASX-listed mid-cap gold producer and explorer with operations in WA. Broadly comparable as a WA gold-focused operator, providing a reference point for what a successful Augustus could look like if exploration matures into production.

Direct peers

• Austral Resources: ASX-listed copper-focused explorer and developer with assets in Queensland and Mt Isa region. Comparable as an ASX-listed copper-gold junior competing for the same investor base interested in early-stage copper exposure.
• Encounter Resources: ASX-listed exploration company focused on copper, gold and critical minerals in Western Australia. Comparable in scale, jurisdiction and commodity mix, with a similar exploration-stage, capital-raising-driven business model.
• Hammer Metals: ASX-listed junior explorer with a portfolio of gold, copper and critical minerals projects in Western Australia. Comparable in commodity mix and pre-resource, drill-driven growth strategy.
• Carawine Resources: ASX-listed early-stage mineral explorer with projects in Western Australia targeting gold, copper and critical minerals. Directly comparable as a similarly sized multi-commodity WA explorer reliant on equity-funded drilling programs.
• Azure Minerals: ASX-listed WA-focused copper-gold-lithium explorer. Comparable in commodity mix (copper, gold, lithium) and exploration-stage, drill-driven model, and as a reference case for junior WA explorers achieving scale via discovery.
• Musgrave Minerals: ASX-listed WA gold-copper explorer (now part of Ramelius). Historically directly comparable to Augustus as a junior Yilgarn gold-copper explorer progressing from drill discovery to corporate transaction.
• Lycaon Resources: ASX-listed early-stage WA explorer focused on gold and critical minerals. Comparable as a small-cap, single-jurisdiction WA explorer running parallel drill programs to Augustus.
• Sunstone Metals: ASX-listed copper-gold explorer with early-stage projects. Directly comparable as a junior copper-gold-focused explorer reliant on staged drilling and equity capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/AugMinerals

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

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 Augustus Minerals