SQX Resources are live, now being publicly traded on the Australian Stock Exchange and attempting to make a gold-copper discovery with the potential to bolster industry around the traditionally coal-focused mining town of Nanango in the South Burnett region of Queensland.
Should the coal industry face long-term headwinds in the region, particularly on the back of a transition towards alternative energy sources, an economic gold and/or copper discovery from SQX may open another gateway of opportunity. SQX’s two prospects near Nanango, both featuring historical mine workings and known mineralisation, may just provide such an opportunity.
There will be little time wasted in exploring for such opportunities, with high priority targets identified and permitting already secured for drilling, with a view to swiftly defining an economic mineral resource.
Should fossil fuel usage decline as the world moves towards renewable energy sources, long-standing regional towns who are reliant on fossil fuel production may face challenging times, especially if generations of locals have built around an industry. However, any potential SQX discovery of economic gold and/or copper mineralisation may keep traditions alive with new resources, backed by the industriousness of a long-standing mining heritage.
SQX have their own backing. The Company is the next venture for MPX, an investor known for identifying, acquiring, investing and accelerating mineral projects across the nation, whose recent success with Canadian explorer Q2 Metals is supporting its reputation.
Now being publicly traded, it is time for SQX to get to work and hopefully provide an opportunity to support the mining legacy of Nanango.