Copper Strike Limited (ASX:CSE) is a mineral exploration and development company focused on exploration for base metals/mineral sands and investment activities. Currently Copper Strike's main asset is 11 million shares in ASX listed Syrah Resources Limited (SYR).
Copper Strike's main focus for the 2012/2013 financial year will be to acquire one or two highly attractive exploration projects that have the calibre to increase in value and lead to profitable development through effective exploration programmes.
Copper Strike completed the sale of its Einasleigh Project in North Queensland to Kagara Limited for a cash sum of AU $16million in December 2011, as well as the cancellation of Kagara's 22.6 million CSE shares. On 6 January 2012 the Company completed a Return of Capital to shareholders at $0.14 (14 cents) per share totalling AU $14.9million. The remaining proceeds from the sale will be used to fund new opportunities for Copper Strike Limited.
The Walford Creek Project was sold in early 2011.