Four Mile / Uranium

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Located in the Frome Basin in the far north of the state of South Australia, 600km north of the state capital, Adelaide.






Quasar Resources



Royalty rate and type
1% NSR

Balance sheet classification
Royalty intangible

The Group has a 1% life of mine NSR royalty on the Four Mile uranium mine in South Australia. Four Mile is operated by Quasar Resources Pty Ltd (‘Quasar’).

The Four Mile mine applies the in-situ recovery mining method. Ore is extracted by pumping leachate into the ore through a series of injection wells. The dissolved uranium is pumped to the surface from multiple wells.

Royalty revenue from Four Mile totalled $1.0m (2021: $0.3m). The Group is in dispute with Quasar over the level of charges being applied against royalty revenues. In April 2022 the Group received a favourable decision from the courts which has resulted in the Group receiving a payment of approximately A$6.0m. This judgement has been appealed by Quasar and legal proceedings around the appeal are expected to conclude in H2 2023.