Avira Resources Limited (ASX: AVW) – A Copper - Nickel - Zinc Story that is Really A Classic Bottom Drawer Corporate Play Investment.
- Noel Ong
- Jul 11
- 6 min read
Announcement
Avira Resources Ltd (ASX: AVW) has made a number of announcements over the past several months that suggest a period of repositioning. While not a traditional IPO in the sense of a new listing, the company has completed a capital restructuring, including an Options Prospectus, and appears to be preparing for a more active exploration season in 2025.
This article pulls together key developments from their recent announcements to give readers a clearer picture of where the company is headed and what has changed since the start of the year.
🔷The Tangadee Story – What’s on the Ground - Copper - Nickel - Zinc
According to Avira’s latest announcements, the company now holds three exploration licences in the Ashburton Region of Western Australia (Figure 1):
E52/4411
E52/4439
E52/4413
Figure 1: Location of the Tangadee Project in the Ashburton region of Western Australia (source: Avira Resources Limited)
These three tenements, collectively called the Tangadee Project, span 779 km² and are described as having potential for sediment-hosted Cu-Zn sulphide and magmatic Cu-Ni sulphide mineralisation. The project lies across the faulted contact of the Edmund and Collier Basins in the Capricorn Orogen, an area that has attracted several explorers, including Teck Australia, Dreadnought, Bellavista, Miramar, and Greatland Exploration (Figure 2).
Figure 2: Explorers are currently active within the vicinity of Avira’s Tangadee Project area(source: Avira Resources Limited)
The company has identified three late-time EM conductors from historical VTEM surveys (2018, 2023) (Figure 3). These are the basis for their initial drill targeting. According to the company, no previous drilling has been carried out across these tenements. Historic lag samples have returned up to 1080 ppm Cu and 190 ppm Cu with 560 ppm Pb from GSWA samples.
Figure 3: E52/4411: Summary of historical exploration and location of EM Target 1 on VTEM image (source: Avira Resources Limited).
Avira has stated that fieldwork is planned for mid-2025, including access assessments, mapping, and consultation with native titleholders. This will precede potential drill testing of the EM conductors—Targets 1, 2, and 3—which are situated near the Mount Vernon Fault and in structurally complex fold hinge zones.
🔷 What’s Happening in Sweden – The Puolalaki Project
Avira also holds an exploration permit in Sweden known as the Puolalaki Project, located in the Gällivare mining district. The project contains both Nickel-Copper sulphide mineralisation and zones of gold ± Cu-W-Mo mineralisation, based on historical exploration by LKAB and others.
In late 2023, the company intersected high-grade gold at the base of hole PUO23005, which was originally targeting a deep EM conductor. This led to a reassessment of the gold potential. According to Avira, discussions are currently ongoing with a Swedish-based gold explorer regarding a potential farm-out, but no binding agreement has been entered into as of the latest updates.
The company has indicated that while these discussions are preliminary, they are part of a broader strategy to realise value from the project without overextending internal resources.
🔷 Corporate Activity – Options and Placements - A Copper - Nickel - Zinc Corporate Investment with A Deeper Meaning?
In February 2025, Avira issued a Prospectus offering up to 48,435,500 new AVWOB options at $0.001 each, exercisable at $0.015 on or before 30 June 2027. This was a follow-on from the expiry of a previous series of options (AVWOA) and appears to have been designed to provide long-term optionality for existing holders.
In March and April 2025, Avira also announced a $506,000 placement in two tranches, priced at $0.007 per share, with 1-for-1 free attaching AVWOB options. Tranche 1 raised ~$253,000 and was completed on 4 April 2025. Tranche 2 and the associated options remain subject to shareholder approval.
These moves suggest a capital strategy that aims to maintain optionality while minimising dilution, particularly during early-stage exploration activities. This is a typical Corporate investment that may be laying the groundwork for the pathway to increase shareholder value. What readers need to understand is that this is a Copper-Nickel-Zinc story that is required for corporate investment activities to create the company narrative that will drive the story.
🔷 Management’s Strong Hand
David Deloub (Executive Director): 20+ years in finance and public company management; focuses on strategy and corporate structuring.
David Wheeler (Non-Executive Chairman): Brings decades of board experience across ASX-listed entities; provides governance oversight.
James Robinson (Non-Executive Director): Background in legal structuring and commercial negotiation.
Capital Approach: Fundraising appears to be deliberately modest and timed around key project developments.
Project Strategy: According to announcements, technical efforts are focused on untested EM conductors and ground with known anomalies.
Governance Style: Decisions to explore farm-outs and carefully staged placements suggest a cautious and structured approach.
Samso Concluding Comments
Avira Resources (ASX: AVW) is working on repositioning themselves. The company appears to have reframed its direction, particularly with the Tangadee Project. Technically and geologically, from what they’ve shared, the area hasn't seen much in terms of previous drilling, yet the presence of late-time EM conductors and historical copper anomalies makes it something to watch. It's the kind of ground that, based on their current approach, could reveal more as the work progresses.
On the Swedish front, the Puolalaki Project has been a consistent part of the story, and now there seems to be a renewed focus on the gold potential. According to their latest updates, they’re looking into a possible farm-out, which suggests they’re considering different ways to unlock value without stretching internal resources. It’s early days, and there’s no guarantee anything will materialise, but the fact that discussions are underway shows they’re keeping their options open.
The most important aspect of this company is that it appears to be a house stock for the CPS Capital Crew. Typically, the projects are coming in to earn equity in the company and from this point of view, I would safely say that this definitely a good DYOR.
This is what I would call the perfect Bottom Drawer Investment. The valuation could move very quickly when their timing is set. In the meantime, patience is the name of the game.
As always, doing your own research and engaging with the company's available information is the best way to get a feel for where it’s all heading.
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