Terra Uranium expands into tin, silver, and gold with strategic acquisition

Terra Uranium Limited, listed on the Australian Securities Exchange as ASX:T92, is taking a significant step beyond its uranium exploration roots with a strategic move into tin, silver, and gold. The company has entered into a binding term sheet to acquire 100% of LCT Metals Pty Ltd, a private company holding two highly prospective exploration licences in the New England Tin Province of New South Wales. This acquisition includes three key assets—the Ottery Tin Mine, the Castle Rag Silver Project, and the Mole River Project—all of which have shown historic high-grade mineralisation.

With growing global demand for critical minerals, Terra Uranium’s decision to expand its portfolio aligns with industry trends. The company will continue to hold its uranium assets in Canada‘s Athabasca Basin, but this diversification into tin, silver, and gold positions it to benefit from evolving market dynamics.

Why Is the Ottery Tin Mine a Valuable Asset for Terra Uranium?

The Ottery Tin Mine holds historical significance as one of the most productive hard-rock tin mines in the New England region. Dating back to the 19th century, the mine produced 2,700 tonnes of SnO₂ at an average grade of 2%, extracted from five mineralised lodes hosted in an intrusive porphyry unit. Geological surveys have confirmed a mineralised zone that extends 500 metres in length, 30 metres in width, and at least 120 metres in depth, with widespread sulphide intervals exceeding 5%.

What makes the Ottery Tin Mine particularly attractive is its proximity to the Taronga Tin Project, a significant tin deposit being developed by First Tin Plc. Taronga, historically explored by BHP and Newmont, contains a resource of 23.2 million tonnes at 0.16% Sn. The Ottery mine sits just 10 kilometres from Taronga, and its mineralisation suggests potential synergies for future development.

What Does the Castle Rag Silver Project Reveal About High-Grade Silver Potential?

The Castle Rag Silver Project spans a 7-kilometre mineralised strike, with historic production and sampling confirming high-grade silver, lead, zinc, and copper. Among the most notable historical results are silver grades reaching 1,670 grams per tonne, alongside significant base metal occurrences. The region has a history of silver mining, with mineralisation patterns resembling those at the Webbs Silver Deposit, another high-grade silver site in New South Wales.

Geological records indicate that Castle Rag also hosts copper-bearing zones, with rock-chip samples returning results as high as 15.2% copper, 0.59% lead, and 3.98% zinc. This polymetallic nature enhances its economic potential, especially as silver demand continues to rise due to its industrial applications in renewable energy, semiconductors, and battery technology.

How Does the Mole River Project Fit Into Terra Uranium’s Growth Strategy?

The Mole River Project spans 13 kilometres, with 6 kilometres of confirmed mineralisation containing both tin and silver-rich base metal zones. The presence of multiple historic mines in the area, including the Silent Grove Mine, underscores the project’s potential. Silent Grove previously produced tin at 3% Sn, with historical sampling showing surface tin grades as high as 64% Sn.

Silver mineralisation at Mole River is also highly significant, with reported values including 97 grams per tonne silver and 4.1% lead, along with additional findings of 147 grams per tonne silver from exploration data. These results highlight the polymetallic richness of the site, which could contribute to Terra Uranium’s long-term growth.

How Will Terra Uranium Fund the Acquisition and Exploration of These Assets?

To facilitate this expansion, Terra Uranium has secured $500,000 through a private placement at $0.04 per share. This capital raise, backed by sophisticated investors, will fund the acquisition of LCT Metals Pty Ltd and support initial exploration programs. The company will issue 2,444,444 fully paid shares, along with 1,222,222 options at a $0.09 exercise price, expiring in December 2026.

Beyond the direct acquisition costs, the raised capital will be allocated to field mapping, validation of historical data, and planning of targeted exploration. The company aims to validate historic resource estimates in compliance with JORC Code 2012 standards, ensuring that the mineral potential of these projects is accurately assessed.

What Does This Mean for Terra Uranium’s Stock Performance?

Terra Uranium’s stock (ASX:T92) has experienced a volatile trading range over the past year, reflecting broader market trends in the resource sector. As of March 18, 2025, the stock is trading at AUD 0.1550 per share, a decline from its 52-week high of AUD 0.2800 in April 2024. The company’s market capitalisation currently stands at AUD 10.011 million, with 86.97 million shares outstanding.

Despite recent price movements, the pending acquisition and expansion into critical minerals could shift investor sentiment. Analysts currently maintain a ‘Hold’ rating on Terra Uranium, with the expectation that the company’s diversification strategy could create long-term value. Given the potential impact of this acquisition, investors are closely monitoring upcoming announcements regarding exploration progress and resource estimates.

What Market Trends Support Terra Uranium’s Shift Toward Tin, Silver, and Gold?

The shift toward critical minerals aligns with broader industry trends. Tin prices have surged due to supply disruptions in Myanmar, Indonesia, and the Democratic Republic of Congo, where political instability and regulatory changes have constrained output. Tin is a vital component in semiconductors and electronic soldering, making it essential for the AI, renewable energy, and electric vehicle industries.

Silver demand has similarly increased, driven by its use in solar panels, electronics, and medical applications. The rising interest in precious metals as a hedge against inflation has also supported strong silver prices. Gold, traditionally a safe-haven asset, continues to benefit from macroeconomic uncertainties, adding another layer of value to Terra Uranium’s expansion.

What’s Next for Terra Uranium?

With the acquisition set to be finalised in the coming weeks, Terra Uranium is preparing for an aggressive exploration campaign across its newly acquired properties. Initial work will focus on reconciling historical data, conducting geochemical sampling, and prioritising drill targets. Investors can expect further updates as the company progresses toward defining its mineral resources.

By expanding into high-grade tin, silver, and gold assets, while maintaining a strong uranium portfolio in the Athabasca Basin, Terra Uranium is positioning itself as a diversified player in the critical minerals space. The next phase of exploration will determine whether these historic mines can be transformed into commercially viable, modern operations, adding value to both shareholders and the broader resource market.