Corporate Profile


The company was incorporated in New South Wales on 16 August 1993 under the name of Asia-Pacific Minerals NL and on 21 November 1993 it changed its name to Caledonian Pacific Minerals NL.

On 13 May, 2000 the Company changed its name again to Quadtel NL.

The name of the Company was changed once more to Wytomic Limited on 17 February, 2005.  The suspension of trading in the securities of Sultan Corporation (previously named Wytomic Limited) was lifted on Friday 29 December, 2006.

Mr Derek Lenartowicz was appointed Managing Director of Sultan on the 3rd May, 2007.  Sultan Corporation has subsequently made the following major acquisitions:

  • 3rd May, 2007 – Isabella Minerals Pty Ltd;
  • 21st May 2007 – Peelwood Project, New South Wales; and
  • 9th June, 2010 – Monty Project, Montenegro
  • September, 2011 – Bogdan Project, Poland

In August 2011 Mr Lenartowicz was appointed Executive Chairman and Mr Mike Ralston was appointed Managing Director.

On 25 January 2012 Sultan Corporation Limited officially changed its name to Balamara Resources Limited by way of a shareholder vote.  The company trades under the code BMB on ASX and AOLFVE on the Frankfurt Stock Exchange.

Balamara means the “Morning Star” in Aboriginal dialect and the board believes this name to reflect the bright future in terms of growth within the Company forward.

Balamara Resources’s Assets

Balamara Resources is led by a strong team of mining professionals with over 80 years collective global mine management experience. The company’s strategic business plan is to identify, acquire and develop projects with:

  • Low entry price
  • Low capital start-up costs;
  • Low operating costs; and
  • Early cash flow positive projects.