About Red Metal
Who We Are & Our Strategy
An Australian mineral exploration company listed on the ASX, with a rare earths discovery at its core and a funded pipeline of copper-gold and base metal targets behind it.
Our Portfolio Today
Red Metal Limited (ASX: RDM) is an Australian mineral exploration company. Our exploration portfolio spans four commodities — rare earths, copper-gold, zinc-lead-silver and gold — across Queensland, the Northern Territory, Western Australia and South Australia.
The portfolio is anchored by the 100%-owned Sybella Rare Earths Project near Mount Isa, our flagship asset and the clear priority for near-term value. Behind it sits a wider, funded pipeline of copper-gold and zinc-lead-silver targets that provides depth and further discovery potential.
Flagship
Sybella Rare Earths
A giant, granite-hosted rare earths discovery advancing through Pre-Feasibility Study toward a simple heap leach development pathway.
Big Copper Strategy
Copper-Gold
A funded search for Australia’s next major copper-gold discovery, targeting IOCG and sedimentary-hosted systems close to proven mines and infrastructure.
Carpentaria Province
Zinc-Lead-Silver
Exploring one of the world’s most productive zinc, lead and silver terrains for large stratabound and breccia-style base metal deposits.
A Track Record of Converting Exploration into Value
The same technical team and exploration strategy that identified and defined Maronan also discovered Sybella. Maronan was advanced far enough to be separately listed on the ASX as Maronan Metals Limited (ASX: MMA), and in 2026 the majority of that shareholding was returned directly to Red Metal shareholders in-specie — proof that this exploration model can convert into standalone, tradeable value.
Our portfolio is also capital-efficient: joint venture partners and government grants fund or co-fund a significant portion of exploration activity, including BHP under the Greenfields Alliance at Pulkarrimarra, Artemis Resources at Nullarbor, and Chalice Mining at Callabonna.
Our Objective & Strategy
Red Metal’s objective is to maximise shareholder value through the discovery and development of giant rare earth, copper, copper-gold, copper-nickel and silver-lead-zinc deposits in Australia.
Key strategies that enhance our probability of discovery and achieve that corporate objective include:
- Focussing our exploration effort on large, high-grade deposit types in the under-explored portions of fertile Proterozoic terrains in Australia.
- Utilising advanced exploration models and proven leading-edge technologies.
- Drill testing a large number of proof-of-concept targets and continuing to identify new opportunities.
- Maintaining a high social awareness and applying high environmental standards during exploration and mining activities.
- Sharing the exploration risk and reward under alliance and joint venture arrangements which have the benefit of increasing exploration expenditure.
- Where appropriate, establishing funding arrangements that allow Red Metal to retain a maximum interest at the point of discovery.
- Remaining alert to new mineral opportunities offering exposure to global decarbonisation and battery megatrends.