In 2018 Mintails, which had been focused on South African gold mines, restructured through a recapitalisation and the acquisition of Orminex West Pty Ltd and Golden Lode Pty Ltd. At the time of acquisition Orminex West Pty Ltd held an option to acquire 51% of the Comet Vale gold project, and Golden Lode Pty Ltd owned 100% of the Golden Lode gold project, both projects were located north west of Kalgoorlie. The company later acquired the Penny's Find gold mine from Empire Resources in May 2019.
Orminex has a strategic alliance with underground mining contractor GBF Mining Pty Ltd which oversees operational management of the Company’s projects. GBF directors Michael Foulds and Ross Graham are both significant shareholders in Orminex, with both listed in the June 2018 annual report as holding interests of more than 20%.
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