The Company

Ajax was incorporated in 1957 when it briefly manufactured timber joinery for the Sydney building industry. In 1959, it became a successful real estate speculation company and, in 1977, an investment company. In 1984, it was re-established as a gold exploration company by public accountant and founding director J.R. (Rex) Martin and consulting geologist Boyd Pratt.

Director Boyd Pratt has a BSc (Hons) in geology (University of New South Wales) and a MSc in geostatistics (University of Sydney) He commenced his professional career as a mining geologist. Subsequently, he gained experience in exploration for iron ore, gold, base metals, and industrial minerals. He established Boyd Pratt & Associates which has consulted to major and minor companies on mineral project generation and exploration in Australia and overseas. He has advised on farm-ins, joint ventures, purchases and disposals of mineral properties. He was a director of East West Resources Limited and Altius Mining Limited.

A Mineral Exploration Company

In 1984, Ajax purchased the sole use of confidential research on old gold mining areas in New South Wales. This identified several highly prospective areas and mines, and it recommended that these should be explored. Subsequently, the company explored and acquired interests in the Caloola gold mine near Bathurst, the Kaiser gold mine near Wellington, the Lucknow gold mines near Orange and several other gold prospects.

Between 1984 and 2013, Ajax explored the Kaiser prospect and the adjoining area with 11 partners, under successive joint venture, farm-in and conditional sale agreements and other arrangements all of which were terminated. The partners were:

• Terrex Resources N.L.
• Compass Resources N.L.
• Cluff Resources Pacific Limited
• CRA Exploration Pty. Limited (Subsequently as Rio Tinto Exploration Pty. Ltd.)
• North Limited
• Newcrest Mining Limited
• Paradigm Gold Limited
• Geoinformatics Exploration Inc.
• Great Western Minerals Limited
• ABN141079325 Limited
• Somerset Minerals Pty. Ltd.

In 2003, Ajax gained full control of the Kaiser prospect under Exploration Licence No. 6209 (EL6209) which it subsequently explored with five successive partners. In 2004, Rio Tinto sold the surrounding EL4022 to Alkane Resources Ltd. By 2008, it was clear to Ajax that the prospect needed drill testing on a large scale and that this would require an experienced and well-funded partner. In 2011, Ajax came under the control of the Pratt family. In 2013, all rights and interests in the EL6209 reverted to Ajax and Ajax sold the licence to Alkane, under a sale agreement and a royalty deed.