Broken Hill Prospecting Limited (BPL) is engaged in mineral exploration within Australia. The Company is an owner of near-surface cobalt mineral deposits located around Thackaringa (an area situated approximately 25 kilometers south west from Broken Hill), where it holds two exploration licenses and two mining leases (EL6622 (Pine Ridge), EL8143, ML86 (Pyrite Hill) and ML87 (Big Hill)). The Company's tenements at Thackaringa cover near-surface cobalt deposits with approximately 30,000 tons of contained cobalt metal. BPL focuses on assessing cobalt deposits for large open cut mining and cobaltiferous pyrite concentrate production/processing to produce cobalt, sulfuric acid for industrial application, feldspar-quartz for ceramics and a high iron residue for iron smelters. Its combined inferred resources and potential mineralization for the areas covered by mining leases totals approximately 39.7 million tons of over 1.79 pound per ton cobalt.