Comet Resources Limited is a mineral exploration company. The Company operates through two segments: exploration, and research and development. The exploration segment is engaged in the exploration of minerals in Australia. The Company's research and development segment is involved in the research and development of the environmental oil solutions (EOS) technology. The Company's projects include Springdale Project E74/562, which is located over 30 kilometers east of Hopetoun, and Gilmore Project EL8282, which is located approximately 80 kilometers west of Canberra in New South Wales. The Springdale Project E74/562 is an approximately 50 square kilometers exploration license, which is focused on graphite mineralization. Its Gilmore Project EL8282 is an approximately 90 square kilometers exploration license, which focuses on gold deposits located in Adelong, Temora, Gidginbung, West Wyalong, Lake Cowal and others.