The Matador Capital team typically has an active role in identifying world class development projects and attracting the people with the appropriate technical and management skills that have a proven track record of creating shareholder value. The Matador Team is involved in:
Frontier Energy Ltd
Frontier Energy Ltd is developing the Waroona Renewable Energy Project (the Project) located 120km from Perth in Western Australia.
The Project is on track to become one of the largest renewable energy projects in Australia, with 868ha of freehold land under Frontier’s control.
The Project’s location, in close proximity to major existing infrastructure and nearby regional towns, provides several strategic advantages. The nearby 330kV Landwehr Electricity Terminal will allow the Company to sell electricity via the South West Interconnected System (“SWIS” – Western Australia’s main energy network), generating revenue from electricity sales, reserve capacity credits and other essential services in WA’s Wholesale Electricity Market (“WEM”), as well as large-scale generation certificates (LGCs) for renewable energy (effectively carbon credits).
Lotus Resources Ltd
Lotus Resources Limited (Lotus) is a leading ASX-listed uranium developer headquartered in Perth, Australia, which owns an 85% interest in the Kayelekera Uranium Project in Malawi (Government of Malawi holds 15%), and 100% of the Letlhakane Uranium Project in Botswana.
We acquired Kayelekera from Paladin Energy Limited in March 2020. While in production from 2009 to 2014, it was Malawi’s largest mine, producing 10.9 million pounds (Mlb) of uranium oxide (U3O8) but has been on care and maintenance since 2014. Kayelekera’s current Mineral Resource estimate is 51.5Mlb U3O8 at 475 parts per million (ppm), sufficient for a minimum 10 year life-of-mine.
Our October 2024 accelerated restart plan confirmed Kayelekera as one of the lowest capital cost uranium projects globally, with an 8-10 month timeline to first uranium production and initial restart capital expenditure of US$50m.
We are accelerating Kayekelera’s production restart, which is on track for Q3 CY2025. In July 2024, Lotus and the Government of Malawi signed a Mine Development Agreement (“MDA”) that guarantees a Stability Period of 10 years. Lotus has secured initial offtake arrangements for up to 3.2Mlb over 2026-2032 (minimum 2.9Mlb), with leading industry participants PSEG Nuclear and Curzon Uranium amongst others. Curzon has also provided a US$15m unsecured loan facility.
Our Letlhakane Uranium Project in Botswana, Africa, is one of the largest undeveloped uranium projects, with a resource base of 142Mt at 363ppm U3O8 for 113.7Mlb contained uranium (RPEEE basis); 50% of which is Measured & Indicated.
An updated Letlhakane Scoping Study in March 2024 demonstrated it can support ~3Mlbpa of U3O8 production with flexibility to align production with uranium price fluctuations. Lotus aims to deliver optimised operating and capital cost structures, with this work now underway along with trade-off studies.
Lotus is focused on creating value for its shareholders, its customers and the communities in which it operates, working with local communities to provide meaningful, lasting impact. Lotus is focused on our future.
Earths Energy Ltd
Earths Energy has entered into binding Sale Agreements to acquire 84% interest in Volt Geothermal Pty Ltd (“Volt”) and Within Energy Pty Ltd (“Within”), who hold geothermal projects in South Australia and Queensland, respectively(collectively the “Projects”). The Projects comprise of prospective geothermal exploration licences, surrounded by key existing infrastructure for electricity generation, including powerlines and sub power stations.
The Company plans to focus on systematically exploring early-stage geothermal targets and developing geothermal resources at the Projects. This will involve a fit-for-purpose exploration programme analysing subsurface geology to identify thermal resource potential at different well depths, undertaking preliminary survey and resource assessments based on offset well data, exploration location definition and exploration drilling. This will determine priority targets for exploration drilling for geothermal resources.
Copper Strike Limited
Copper Strike Limited is a company focused on identifying and acquiring potential energy and resource acquisitions.
