Thank you very much, so this is a very, very different presentation, and we're a very different corporate strategy than what you've heard in the last couple of presentations. This is just a really small snapshot of our business, so please go to the website and look at the full corporate presentation. The first thing you'll notice is we're a dual-listed TSX and ASX-listed company, with the main board being the TSX, with our Australian home base where we all are resident. Normal disclaimer, so who are we? We really are a diversified, high-quality gold explorer and developer, but we do have an increased focus on copper. Copper's not in our portfolio, but we continue to look for those opportunities.
As you'll see, our portfolio's got a mix of early-stage to late-stage exploration, but they all have one key thing: we're looking for a pathway to a million ounces, and we're looking for standalone developments, so none of the exploration we do is within 100 kilometers of a processing plant. We're just not interested in playing that game. We've got a very dedicated project generation team, and we'll talk about our strategy in finding additional projects to our portfolio. Highly experienced board, global exploration experience, a really good team. Got a strong balance sheet, which gives us enough money to execute our strategy. We haven't raised money since we did the ASX dual-listing IPO two years ago, and we've got a very aggressive approach to doing a lot of drilling, so this is our strategy.
The first part of our strategy is really focused on core greenfields generation, multiple projects, working quickly through them, drilling holes, seeing if we like them, moving down the chain, or tossing them out, and identifying other ones. The second part, as you'll see, given our balance sheet, we're actually out there looking for late-stage exploration projects or projects that may have gone through a PA or a scoping study, but for whatever reason have stalled. We've got the capability to take those projects through to a decision to mine. Our focus is in Australia and Canada, anywhere across gold and copper. So that's our focus. 355 shares on issue, about a third of those trade on the ASX. Market cap around AUD 40 million. We've got an eclectic investment portfolio, but the key one is San Cristobal Mining, which is quite liquid.
That supports our operation as we go forward, and it's around about AUD 20 million in that portfolio, and we've got about AUD 7 million in the bank at the moment. A very strong share register. We are TSX, so not all of our shareholders you see on the list, but Northern Star's 10% of our register, Mark Creasy, billionaire geologist in Australia. Some other interesting people at the Don Smith Fund, Crescat Capital's there as well. So we've got a really good, strong share register that supports us. So our portfolio, it is quite eclectic. We've got a whole range of greenfields, really early-stage projects, projects where you do surface mapping, decide to do some drilling, then you might follow up or toss them out. So these all range from gold to gold and antimony, and at the moment they're all focused in the Pilbara, which has been our traditional home.
What we call advanced greenfields is really the Egina Joint Venture, which I'll talk about. It's a joint venture with Northern Star, and then we've got a couple of advanced exploration projects, two in New South Wales, John Bull and Tibooburra, which have been drilled previously by other parties, and we're now taking on the exploration, and we've got the Belltopper project in Victoria, so our project generation strategy is really about adding projects to the kind of forward part of this triangle or portfolio flow chart, and we are looking for those advanced resource projects to kind of round out our thing. It takes a long time, as we all know, to get from greenfields to that stage.
So given our balance sheet and our support from the share register, we're trying to jump the queue on some of these projects with work that other people have done. So projects across Australia, all the way Victoria, New South Wales, and the Pilbara, and I'm just going to quickly cover some of the more interesting ones. So let's start in New South Wales. I'm actually going to see if I can go backwards. So this was drilled by someone else. They drilled 17 holes, really good intersections for near-surface open-pittable material, really great. They identified a bit of a wider zone. So we've now picked this up. We've completed really good soil mapping and now really programmed on doing a second phase of drilling before Christmas. So this is now a 1.5-kilometer-long soil anomaly that supports the previous drilling. So again, really exciting area for us.
It really is firming up to be an IRGS system, so we really look forward to seeing how this moves in the New England Fold Belt. The other one is Tibooburra. It's in the very northwest corner of New South Wales, very hot in summer. Previous work by Manhattan and a lot of other parties have really identified a range of targets over 22 kilometers. Previous work has focused on the New Bendigo area. Our focus has been more on Clone, where we completed a drill program earlier this year, and we've just finished a field program north of Clone in preparation for another drilling program in October/November this year. The program that we drilled, over 14 holes, 2,000 meters. You can see some of the grades there: 12 meters at 5.9, including 5 at 13.7, 7 meters at 2.4. The mineralization remains open at depth and along strike.
So we see this 22-kilometer zone as possibly supporting a range of multiple pits along its strike length, very simple metallurgy. So we'll see how our programs develop in the next phase of drilling and the potential to grow this into something. This area has been around for a long time. We're probably the first modern group to go back in there and really see if we can make something happen at Tibooburra. In Victoria, we have the Belltopper project. It's very small. It's a portion of the whole Victorian goldfields area. As you can see here, we've got some great friends, Fosterville north of us, Costerfield. So Nick was here before with Alkane, so that's the Mandalay project. Down on the right-hand side, you've got Sunday Creek and the guys from Southern Cross.
Just north of us, not on the picture, is Kaiser Reef and their Maldon project as well. So we've had this project for a while. We took 100% ownership about two years ago. We've done a lot of work in drilling up until the end of last year, and as a result of that drilling, we were able to put together an exploration target. So you can see here, pretty good grades, 7-ish to 8, 1.5-2.1 million tonnes, 300,000-600,000 ounces. So really, the next phase of this project is really to keep drilling to build up an inferred resource, and you'll see more announcements on that as we move forwards. High grade, narrow, very typical Victorian. We won't need a processing plant. So it's a very exciting project for us to continue our development. So back to the Pilbara.
As I said, it's been our kind of home for a long time, the way that Novo grew. We had a really large portfolio at one stage, 14,000 square kilometers. We pulled that back to about 6,000, of which we're kind of managing about 5,000 square kilometers ourselves. You'll see us that continue to come back as we kind of close out some of that greenfields work, but it's a large portion. We've actually added to the portfolio. You can see on the bottom left-hand corner, Turee Creek. We picked up and in the process of completed applications for about 1,500 square kilometers. So we still see the Pilbara as having great potential going forwards. So let's come back to that Egina joint venture.
Some people will be aware of De Grey and the Hemi project, 12 million-13 million ounces, bought out by Northern Star for A$5 billion. For a long time, we've had about 1,500 square kilometers of tenure butting up against the Hemi project. We completed some drilling, very small amount of drilling in 2022. The results were very, very interesting enough for De Grey to enter a joint venture. It is a great joint venture for our shareholders. A$25 million have to be spent for 50% of the project. Just do the math. It is quite amazing after a small amount of drilling. Already, somewhere around about A$9 million has been spent. It is now the onus of Northern Star to complete that work as they do the development for Hemi.
So again, it's a really great measure of how we've kind of looked at a different strategy to execute, hopefully, shareholder success. So Balla Balla is on the coast, just north of Karratha, really greenfields area. This is bounded by the Sholl Shear, which you can see is the black line here. What's the kind of model is: has the Sholl Shear had gold mineralization flow like the Mallina Shear that brought us the Hemi project, which is only 100 kilometers away. We completed the first phase of drilling early this year. Really strange results, which we're still working through. We didn't drill too much gold, but as you can see in the numbers here, we picked up a huge amount of alterations and geochemistry. So we're now working through that. You'll probably see us do some airborne work later this year and follow up with some more drilling.
We still think Balla Balla's an interesting project to keep working on. It's one that will take time to understand. 20 meters of cover, so it always is a challenge. We're busy drilling. Gold and antimony target at Sherlock Crossing, which was an old 1910, 1912 mine as part of World War I, looking for antimony. Historical mine produced really good grades from that. You can see there. We did some recent rock chip sampling, which had 4.7 and 150 grams a tonne gold, so really exciting. So as a result of this, we're now there drilling, and we'll complete that drilling program in about two weeks with results pending. So again, really greenfields project. No one's done any work here. We'll see how it kind of spins out as we move forwards.
Similarly, further south in the Pilbara, South East Wyloo, is another gold antimony target that we're focusing on. Really good early-stage exploration results with rock chip samples. Once we can complete heritage approvals, we'll go drilling here at Wyloo. Interesting enough, there is in the Pilbara a whole range of small antimony projects starting to develop up, so it'll be interesting how that progresses as we go forward. I talked about Turee Creek. 1,500 sq km in the southern part of the Pilbara. Had previous work done by WMC and BHP many years ago. We see it as very attractive for a whole range of systems, both gold and copper. Again, we've got a great geology team, so we've got the strength to be able to pull this together and really put an exploration story together. Probably won't see us go drilling here until early 2026.
Another exciting project in our portfolio. Just to summarise, we are a high-quality exploration company. We've got quite a wide portfolio, so we are really a project generation type team, taking those projects from greenfields all the way up to advance. We're still looking for that great discovery and what will drive the share price up, but we've got the capability, the people, and the money to do that. As I said, quite a mixed portfolio. They're all there focused on big stories. If we think a project will never deliver around a million ounces, you'll see us move on. We're not interested in playing with small stuff. Project generation, we've got the horsepower to pick up projects. As I said, we're out looking there for gold and copper projects in Canada and Australia, agnostic on whether they're open pit, underground, or processing.
Highly experienced board, global experience both on the board but also in the exploration team and our technical group, so we've got the capabilities to deliver on our strategy, which is really good. Strong balance sheet, as you've seen. The San Cristobal investment is quite liquid, allows us to fund our program going forward, so that helps us manage equity requirements going forward, but we do have a good shareholder register that'll support us. And finally, we are aggressive explorers. We like to drill. We like to get those results and move forwards. So thank you very much.