AGM Presentation June 2018 D ISCLAIMER & F ORWARD L OOKING S - - PowerPoint PPT Presentation
AGM Presentation June 2018 D ISCLAIMER & F ORWARD L OOKING S - - PowerPoint PPT Presentation
AGM Presentation June 2018 D ISCLAIMER & F ORWARD L OOKING S TATEMENTS This presentation includes certain forward-looking statements about future events and/or financial results which are forward-looking in nature and subject to risks and
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DISCLAIMER & FORWARD LOOKING STATEMENTS
This presentation includes certain forward-looking statements about future events and/or financial results which are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements or information, including but not limited to those with respect to the operation of SCM Berta/Nora, and the development of the Marimaca/Ivan project, metal prices, metallurgical results and resource estimates, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements include without limitation, statements regarding the company’s plans, goal or objectives and future completion of mine feasibility studies, mine development programs, capital and operating costs, production, potential mineralization, resources and reserves, exploration results and future plans and objectives of Coro Mining Corp. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, or “ continue” or the negative thereof or variations thereon or similar terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause results to differ materially from expectations include risks associated with mining generally and pre-development stage projects in particular. The company is an exploration, development & mining company. Many references to resources and other geological and technical information contained herein have not been verified by an independent expert and are either not in accordance with the requirements under National Instrument 43-101 or have not been prepared in accordance with a preliminary or final feasibility study. Potential investors should conduct their own investigations as to the suitability of investing in securities of Coro Mining Corp. The potential target tonnage and grade noted for the El Joté project are conceptual in nature as there has been insufficient exploration to define mineral resources, and it is uncertain if further exploration will result in these targets being delineated as mineral resources. Unless otherwise indicated, Coro has prepared the technical information in this presentation (“Technical Information”) based on information contained in the technical reports and news releases (collectively the “Disclosure Documents”) available under Coro Mining Corp.’s company profile on SEDAR at www.sedar.com. Each Disclosure Document was prepared by or under the supervision of a qualified person (a “Qualified Person”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators (“NI 43-101”). For readers to fully understand the information in this presentation, they should read the Technical Reports (available on www.sedar.com) in their entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this presentation which qualifies the Technical Information. Readers are advised that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Disclosure Documents are each intended to be read as a whole, and sections should not be read or relied upon out of context. The Technical Information is subject to the assumptions and qualifications contained in the Disclosure Documents. All figures are quoted in US dollars unless otherwise stated. Luis Albano Tondo, President & CEO of Coro Mining, a Fellow of the Australasian Institute of Mining and Metallurgy, and a Qualified Person for the purposes of NI 43-101, has approved this written disclosure. All Dollar amounts in this presentations are US Dollars unless otherwise stated.
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- 1. Overview
- 2. Marimaca Flagship Asset
3 Berta Optionality Asset
- 4. Conclusions
Coro Mining Overview
Marimaca Berta
Commodity Copper
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Geography Chile – Coastal Copper Belt
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Geology New copper bearing discovery
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People Skills and experience in Chile
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Corporate & Capital Structure
Symbol COP Bloomberg COP:CN Price C$0.105 Shares issued 652 m Market cap C$68.45m Major Shareholders Greenstone 64% Institutional 14% HNW & Retail 25%
As at market close 25 June 2018
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Leadership & People
BOARD Independent Chairman Colin Kinley
CEO Kinley Exploration, Director Excelsior Mining
Independent Directors Petra Decher
Governance & Finance
Gordon Fretwell
Securities Lawyer
Major Shareholder Michael Howarth
Banking & Finance
Executive Directors Luis Tondo
(CEO) ex-Kinross & Rio Tinto
Alan Stephens
Exploration ex-FQM
Other Executives Armando Véliz
Finance Ex-Laguna, Xstrata
Sergio Rivera
Exploration Ex-Codelco
Nick Bias
Corporate ex-Citibank & Glencore
EXECUTIVE
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Geography and Geology – Chile
Established position on the Chilean costal copper-belt Chile § Chile produces over 1/3 of annual global copper § Low political risk, preferred foreign investment destination § Mining culture and mining-friendly jurisdiction § Well defined project approval processes
30km
Coro § Two properties close to coast § Established world class infrastructure § Potential to add to land position § Deposits appear to be scalable § Mineralized areas close to surface with low strip ratios
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Investment Case
Strategy built on unique exploration opportunity Assets § Marimaca as a potential world-class exploration and development opportunity (and reducing exposure to Berta due to high cost and capital requirements) Team § Building a skilled and experienced in-country Chilean team § Streamline with a Chilean focussed business Growth § Optimise the shareholder and capital structures of the business § Undertake a sizeable exploration program to determine the full potential of Marimaca § Assess all Marimaca development opportunities and scenarios
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- 1. Overview
- 2. Marimaca Flagship Asset
3 Berta Optionality Asset
- 4. Conclusions
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§ 14km to highway & powerline 18km to Ivan Plant 22km Mejillones Port § NI43-101 MRE January 2017 increased 103% April 2018 § DFS announced June 2018 § Coro owning 75%
Marimaca Project
Unique Greenfields Copper Project Coastal copper belt
MARIMACA Ivan
Mantos Blancos
Michilla Mantos de la Luna 10 ~250m Marimaca deposit viewed from north
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Marimaca Project
Initial Marimaca 1-23 Claim Definitive Feasibility Study § Proven & Probable mineral reserves (oxides) 24.6mt at 0.8% CuT, containing 196,800 tonnes Cu § Robust economics, After tax IRR 58%, NPV (5%) of $114 million at Cu price $3/lb § 12 year mine life, plus 3 years LOM stacked ore § Annual Cu production 10,000 tonnes (years 2-10) § Initial capital costs $22.6 million (including $1.7 million contingency and $1.1 million owner allowances) § LOM cash costs of $2.05/lb
First phase DFS to acquire 75% interest in Marimaca 1-23 Claim Exponential phased growth opportunity with the addition of surrounding tenements with associated resources and reserves, resulting in a significant increase in the project scale and economics.
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- Chrysocolla 49%
- Brochantite 45%
- Wad and black oxides 4%
- Mixed oxide and chalcocite 2%
Marimaca Project
Section NW 400, Looking North East
% of total contained copper tonnes Metallurgical column tests run on each type
Leachable mineralization occurs in coherent bodies, dominated by 4 copper oxide minerals:
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LA CMN Marimaca Coro Coro Coro (Ivan) CMN Sorpresa I SM North
2km
Sorpresa II
Marimaca District Property Consolidation
Marimaca Claim Earning 75% La Atómica Optioning 100% CMN Claims Optioning 100% SM North & Sorpresa Acquiring 100% Coro Claims Owned 100%
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§ DFS completed § Sierra Miranda claims acquisition targeting completion § Major drill program expected to significantly increase resource base § Extension of geochemistry and mapping over Marimaca District & Ivan Block § Opportunistically explore for new Marimaca-style deposits along Coastal Belt
Marimaca 2018-2019 Work Program
Work Progressing on New Flagship Property
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- 1. Overview
- 2. Marimaca Flagship Asset
- 3. Berta Optionality Asset
- 4. Conclusions
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§ Reorganisation complete § Capital optimization projects being implemented § Final ramp up to 400tpm targeting Q3 2018
SCM Berta (Coro 25%, Option to 50%)
Berta Mine, Nora SXEW Plant
Copper cathode production at Nora Plant
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- 1. Overview
- 2. Marimaca Flagship Asset
- 3. Berta Optionality Asset
- 4. Conclusions
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Summary
World class exploration and development opportunity § Buoyant copper market in need of secure new supply sources § Marimaca is a unique development asset located in the world class copper jurisdiction § Building out the exploration and development team and infrastructure § Financing opportunities advanced to optimise capital and shareholder structures § Reduced exposure to higher cost legacy assets approved by shareholders Securing growth and value for Coro
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