EOI sought for the sale of a high-grade gold project, with a fully permitted plant and other exploration opportunities

EOI sought for the sale of a high-grade gold project, with a fully permitted plant and other exploration opportunities

Tombola Group of Companies (‘the Group’)

The Tombola Group of Companies presents a unique opportunity for strategic investors or industry participants to acquire a significant gold asset in the proven mining region of Cloncurry, Queensland, which includes the fully permitted Lorena Processing Plant located 15km east of Cloncurry.

The Group currently is in liquidation and on 6 December 2025, Richard Tucker and Paul Pracilio of KordaMentha were appointed as Receivers and Managers to certain entities within the Group. The Receivers and Managers are now seeking (with the consent of the liquidators) Expressions of Interest for the recapitalisation or acquisition of the assets of the Group.

About the opportunity:

The Group’s assets are strategically located within 40 km of Cloncurry, Queensland.

The principal assets include the fully permitted and commissioned Lorena Processing Plant, which is a conventional carbon-in-leach plant capable of processing both gold and copper ore, and the Mt Freda Complex consisting of two open pit gold mines.

Key investment highlights:

Lorena Processing Plant

  • Fully permitted, conventional carbon-in-leach (CIL) plant with flotation circuit, capable of processing both gold and copper ore
  • Plant processing capacity of 250-300ktpa
  • Currently in care & maintenance with relatively modest capital required to re-establish operations, with established infrastructure on site.

High-grade Mining Assets

  • Fully permitted MLs at Mt Freda and Golden Mile with JORC Resources of c. 1.6MT at 2.3 g/t AU
  • Contains shallow, conventional open-pit deposits located c. 35km from Lorena Processing Plant
  • Mt Freda includes near complete VAT pond with potential to enable oxide gold and copper recovery

Strategic Location

  • Plant and deposits c. 35km from Cloncurry Airport
  • Convenient access via Flinders Highway connecting Cloncurry to Townsville
  • No comparable gold processing facilities within c. 250km, allowing the Lorena Plant to operate as a regional processing hub

Exploration Upside

  • Approx. 450 km2 of exploration tenements covering highly prospective ground with scope for further resource growth

Next steps:

To register your interest, please contact Marcus Tamlin at KordaMentha:
T: +61 8 9220 9381
E: [email protected]