Tritton team rides again with NSW Bushranger project

The team behind the development of the Tritton copper mine in New South Wales are making a comeback through Toodyay Resources Ltd, which is planning to acquire a new copper project.

Former Tritton executives Mick McMullen, Tom Duckworth and Declan Franzmann have teamed up with former Gallery Gold managing director Hamish Bohannan to develop the Bushranger project, located south of Oberon in New South Wales.

Toodyay will issue 359 million shares, worth $9 million, to acquire Ord Investments Pty Ltd - which is owned by the four men named above.

Ord has an agreement to acquire the copper project from Straits Resources Ltd, which last year moved to full ownership of Tritton.

The deal is conditional on Toodyay raising $1.25 million by issuing 50 million shares to Euroz Securities, Stripe Capital and Straits Resources.