In 2011 Straits made an offer to purchase the minorities of Goldminco Corporation, listed in Canada.  As at August 2011, Straits owned 97.5% of Goldminco, with Straits moving to compulsorily acquisition of the remainder.  Goldminco’s main assets are the Blayney and Termora Projects in the Lachlan Fold Belt of NSW.

The Lachlan Fold Belt hosts major porphyry and epithermal type gold and copper-gold deposits including Cadia, Ridgeway, North Parkes and Cowal. Goldminco hold properties in important mineralised centres in NSW, namely the Blayney and Temora projects.  The target minerals are gold and porphyry copper-gold.

An initial resource estimate was announced to the Market by Goldminco on the 2 July 2008 for the Temora Project resources. The Temora Project resource at a 0.25% Cu equivalent cut off shows an indicated resource of 21.1 Mt at 0.35% Cu, 0.5 g/t Au & 34 ppm Mo and inferred resources of 121.1 Mt at 0.32% Cu, 0.25 g/t Au & 31 ppm Mo.  All resources are within a 30 kilometre radius of each other and are close to surface with existing road, rail, water and power infrastructure nearby.

Drilling has continued to extend the known mineralisation at the Temora project and geophysical and geochemical studies have highlighted a number of drill targets in the Blayney and Tick Hill projects.

Drilling at Yiddah has confirmed the up dip continuity of mineralisation from pervious drilling and extended the strike length of known mineralisation (exceeding 0.2% copper) to at least 1.7km.  A number of targets have been identified for follow up drilling at Cullingerai and Yiddah in 2011.

At Goldminco's Blayney project an IP survey was completed targeting structurally controlled copper-gold mineralised systems below Tertiary basalt cover, on the eastern margin of the tenement area and close to the Newmont/Alkane McPhillamy's discover.  The results indicate two strong chargeability anomalies hosted within the Ordovician Blayney Volcanics. Planning is underway to drill test these anomalies in 2011.

The Tick Hill project is located within the southern portion of the Mt Isa inlier in NW Queensland, Australia. The tenements are highly prospective for a high grade Tick Hill style gold mineralisation and high grade Eloise style copper-gold deposits.  In 2009 Goldminco identified a 2km x 300m copper-gold-cobalt soil geochemical anomaly at the Spring Creek prospect which remains open to the south.