Infinity to focus on East Coast copper-gold with WA asset divestment

Infinity Mining is sharpening its focus on its high-potential copper and gold projects on Australia’s east coast, while the company eyes a strategic divestment of its Western Australian assets as gold and copper prices touch record highs.

Following a strategic review of an extensive portfolio, Infinity will pivot towards its recently acquired Eastern Australian portfolio and advance divestment discussions for its WA Pilbara and Goldfields tenements.

Infinity says the move will trim fixed costs, while unlocking further exploration and development initiatives at the recently acquired Cangai copper project in New South Wales, alongside gold and copper exploration assets it snapped up last year in the Macquarie Arc/Lachlan Fold Belt and Central Victorian goldfields.

Infinity’s flagship Cangai copper project - a historic high-grade copper mine with JORC-compliant resources - stands out as a near-term development contender. Acquired from New Frontier Minerals, Cangai is poised for further exploration and growth to build on its existing copper resources and recent geophysical targets.

The company’s current WA holdings cover a sprawling 3700-square-kilometre portfolio from Leonora to the Pilbara that are already under due diligence as part of a potential sale.

Infinity says divestment talks are expected to wrap up in the coming months, freeing up resources to streamline Infinity’s eastern push, while maximising shareholder value via cash and/or equity from its sought-after WA gold assets.

The company’s proximity to mining heavyweights throughout NSW no doubt enhances the recent viability of its projects, in particular Cangai, where past production and current resource estimates could spark a revival at current commodity prices.

In Victoria, the company’s Tanjil Bren project is putting its hand-up as the state’s leader for a bigger gold budget. Named after a historic town in Victoria, which was established during the State’s great gold rush, Tanjil Bren is contiguous with another licence the company holds over the historic gold-rich Walhalla South area.

Along with fresh electromagnetic targets at Cangai and a recently uncovered potential porphyry system at its Bogong copper project, the strategic refocus signals a bigger-picture shift, balancing near-term exploration wins with a leaner, more focused asset base.

As copper and gold prices remain perennial favourites, Infinity is betting its eastern Australian projects can deliver with the potential added cash flow its WA divestment would provide.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au