Everlast’s Kurigram Licence Raises Questions on Exploration and Development Risks

Everlast’s Strategic Expansion in Bangladesh

Everlast Minerals Ltd (ASX, EV8) has taken a decisive step forward in its mineral sands ambitions with the granting of the Kurigram Exploration Licence (EL) by Bangladesh’s Bureau of Mineral Development. Covering approximately 4,000 hectares in the northern Kurigram District, this licence significantly broadens Everlast’s footprint in a region already known for its mineral potential.

The Kurigram EL is strategically positioned about 350 kilometres from Dhaka, accessible via established highways and railways, which bodes well for future operational logistics. The licence area spans sand bars and riverbeds along the Brahmaputra-Jamuna River Channel, a geological setting promising for mineral sands deposits.

Building on a Solid Foundation

This new licence complements Everlast’s flagship Gaibandha Mineral Sands Project, reinforcing the company’s development pipeline in Bangladesh. The company plans to initiate a comprehensive exploration campaign involving mapping, surveying, and sampling to identify economically viable mineral sands deposits. These efforts will be supported by metallurgical testing and pilot-scale processing activities already underway at Gaibandha, aiming to refine extraction and processing techniques.

Everlast’s Executive Chairman, Paul Qian, emphasised the significance of the licence grant as a testament to the Bangladesh Government’s confidence in Everlast’s professional management and commitment to responsible mining practices. The company’s focus on social responsibility and environmental stewardship aligns with the government’s expectations, potentially smoothing future project approvals and community engagement.

Outlook and Market Implications

While the announcement stops short of providing detailed resource estimates or timelines, the Kurigram EL represents a meaningful opportunity to scale Everlast’s operations in a highly prospective region. The licence’s location along a major river system could offer advantageous mineral deposition patterns, though exploration results will be crucial to validate economic potential.

Investors will be watching closely as Everlast progresses its exploration and pilot processing programs, which will provide clearer insights into the viability and scale of the mineral sands deposits. The company’s ability to navigate regulatory and environmental requirements in Bangladesh will also be a key factor in its long-term success.