Why Turnstone Resources (ASX:TSR) is repositioning as a copper-gold explorer after its South Harz Potash rebrand

Sonal Goyal

19 October 2026 11:14 PM AEDT

Why Turnstone Resources (ASX:TSR) is repositioning as a copper-gold explorer after its South Harz Potash rebrand

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

A rebrand with a changed focus

Turnstone Resources Ltd (ASX:TSR) is an exploration and evaluation company that, on 20 March 2026, announced a new name and identity as a copper-gold explorer. It was formerly South Harz Potash Ltd and, before that, Davenport Resources Limited, and it listed on the ASX on 20 January 2017. The central point for readers is therefore a change of direction: a company once associated with potash is now presenting itself around copper-gold and critical minerals.

What the company does and its stage

Turnstone describes itself in its announcements as a copper-gold explorer. It has not reported a JORC-compliant mineral resource or operating revenue; its activity is exploration, which carries the usual uncertainty that results may not lead to a viable deposit.

Latest verified developments

On 21 April 2026 the company released rock chip results which, according to the headline, confirm gold-copper potential at its Klinten project. Rock chip sampling is an early-stage technique: it indicates mineralisation at surface but is not a drilling result and does not define a resource.

On 1 June 2026 it announced the exercise of an option to acquire the Glava project, which it said consolidates its critical minerals transition. A proposed issue of securities was lodged the same day, and a cessation of securities notice was lodged on 28 May 2026. Readers should consult the full ASX notices for the number and price of any shares issued.

Other housekeeping events include a general meeting whose results were released on 17 April 2026, an investor webinar on 1 April 2026, and the completion on 7 May 2026 of an unmarketable parcel share sale facility, which is intended to remove very small shareholdings from the register.

Funding and dilution

A quarterly activities and Appendix 5B Cash Flow report was lodged on 30 April 2026, covering the March 2026 quarter. Shares were issued to directors on 5 May 2026 at $0.030 per share, worth roughly $25,000 and $50,000 to two non-executive and executive directors respectively. BNP Paribas Nominees (10.60%) and Citicorp Nominees (6.53%) are listed as substantial holders. Nominee holdings do not identify the underlying owners.

Risks and context

Copper and gold are traded globally and early-stage explorers are sensitive to Commodity prices, drilling outcomes and the ability to raise capital. Turnstone is also in transition, with new project interests to integrate. A small market capitalisation, by itself, says nothing about financial health or value; the next cash report is the better guide.

Upcoming milestones

The next Quarterly Report is expected around 20 October 2026, though the company has not confirmed a date.

FAQs

Q: What was Turnstone Resources (ASX:TSR) previously called?

A: Turnstone Resources was formerly South Harz Potash Ltd and, before that, Davenport Resources Limited. On 20 March 2026 it announced its new name and identity as a copper-gold explorer.

Q: What has Turnstone reported from its Klinten project?

A: On 21 April 2026 Turnstone released rock chip results that, according to the announcement headline, confirm gold-copper potential at Klinten. Rock chip sampling indicates surface mineralisation but is not a drilling result and does not define a resource.

Q: What did Turnstone announce about the Glava project?

A: On 1 June 2026 Turnstone announced the exercise of an option to acquire the Glava project, which it said consolidates its critical minerals transition. A proposed issue of securities was lodged the same day.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.