Welcome to Variscan
Variscan Mines Limited is an ASX listed Australian resource company focused on exploring and developing mineral deposits. The Company was incorporated in 1987 (as Variscan Mines Limited) and over the last two decades has successfully explored or joint ventured numerous exploration properties in the search for base metal, gold, nickel uranium, iron and mineral sand deposits. The Company maintains strong technical abilities in geology, exploration management and project assessment as well as listed company management and Initial Public Offerings (IPO).
Since 2006 Variscan has diversified from pure exploration joint ventures to vending its projects into small junior explorers in return for equity, or placing these assets into Variscan controlled companies to take through to listing on the ASX. This approach has allowed Variscan to build a strong portfolio of investments in a number of ASX-listed entities whilst allowing the Company freedom to generate new exploration opportunities and continue project acquisitions. Capital returns from these investments have been strong resulting in the Company securing a robust cash position.
Recently Variscan has expanded its project search to include more advanced opportunities to accelerate its goal of achieving a long term cash flow. The search has moved Variscan off-shore, and as a result of detailed metallogenic and country studies, the Company has focussed its efforts into Europe. Variscan formed a wholly owned EU subsidiary, Variscan Mines SAS, and employed an experienced technical team to acquire high quality projects within this highly prospective, but largely forgotten region.
In June 2013 the Company announced that it had secured its first exploration licence in Brittany, France, the first exploration licence granted to a mining company in that country for more than two decades.