Corporate Presentation TSX-V: ARTG www.artemisgoldinc.com June - - PowerPoint PPT Presentation
Corporate Presentation TSX-V: ARTG www.artemisgoldinc.com June - - PowerPoint PPT Presentation
Corporate Presentation TSX-V: ARTG www.artemisgoldinc.com June 2020 Forward Looking & Cautionary Statements This presentation contains certain forward looking statements and certain forward-looking information as defined under
This presentation contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward- looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “potential” or similar terminology. Forward-looking statements and information are not historical facts, are made as of the date of this presentation, and include, but are not limited to, statements regarding the expectations, future plans, projections, objectives, estimates, guidance and forecasts, as well as statements as to management's expectations with respect to such matters. These forward looking statements involve numerous risks and uncertainties and actual results may vary. Important factors that may cause actual results to vary include without limitation, risks related to the timing and receipt of certain approvals, changes in commodity and power prices, changes in interest and currency exchange rates, risks inherent in exploration estimates and results, timing and success, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), changes in development or mining plans due to changes in logistical, technical or other factors, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials, equipment and third party contractors, delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), political risk, social unrest, and changes in general economic conditions or conditions in the financial markets. In making the forward-looking statements in this presentation, Artemis has applied several material assumptions, including without limitation, the assumptions that: (1) market fundamentals will result in sustained mineral demand and prices; (2) the receipt
- f any necessary approvals and consents in connection with the development of any properties; (3) the availability of financing on suitable terms for the planned activities and
development of any mineral properties; and (4) sustained commodity prices such that any properties put into operation remain economically viable. The actual results or performance by Artemis could differ materially from those expressed in, or implied by, any forward-looking statements relating to those matters. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of
- Artemis. Except as required by law, Artemis is under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether
written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Rozino Preliminary Economic Assessment (September 2018) as noted on slide 6 – Cautionary Note Base case parameters assume a gold price of US$1,250/ounce and an exchange rate (CAD$ to US$) of 0.75. All amounts are reported in Canadian dollars unless otherwise specified. Financial results on 100% equity basis. The PEA is preliminary in nature and includes Inferred mineral resources (effective date September 10, 2018) that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA results will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability. The PEA was prepared by CSA Global, an international mining consultancy with experience in Bulgaria, in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. QP Statement – Stuart Mills, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this presentation related to Velocity Minerals Ltd. Jean Pautler, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this presentation related to the GK Project.
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Forward Looking & Cautionary Statements
www.artemisgoldinc.com | TSX Venture: ARTG
- Artemis Gold Inc. is a gold development company, spun out of Atlantic Gold Corporation prior to it being
acquired by St Barbara Limited
- Artemis is well financed, growth-oriented and aimed at creating shareholder value through the identification,
acquisition and development of gold properties in mining friendly jurisdictions
- Board and management comprise the team that built Atlantic achieving a +1,129% return on investment over
the 4.5 yr period from its inception until it was acquired for $802m, against an industry index performance
- ver the same period of -29%
- Strong balance sheet with approximately $32 Million in cash and no debt
- Current asset portfolio includes a ~39% strategic stake in Velocity Minerals Ltd. (TSX.V: VLC), as well as the
right to earn 100% of the GK Property, a copper-gold porphyry and epithermal target located within northern British Columbia’s golden triangle
- Supportive shareholder base with capacity to support future longer-term capital requirements without
reliance on capital markets
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Who We Are
All amounts are in Canadian Dollars unless otherwise noted www.artemisgoldinc.com | TSX Venture: ARTG
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Strategy and Differentiators
www.artemisgoldinc.com | TSX Venture: ARTG
Focus on Shareholder Value Creation
by applying its proven management team to identify and develop unrecognized value
- pportunities in
misunderstood assets or dysfunctional capital markets
Focus on Low Initial Capex Intensity Assets
with low all-in cash costs, typically open pittable deposits in mining friendly jurisdictions
Technically Driven Approach with Focus on Risk Management
resource estimation methodology, grade control for short term mine planning , fixed construction costs and timeline
Minimize Shareholder Dilution
through structured financing and staging
- f development
Board and Management Shareholder Alignment
with ownership of approximately 45 %
- f the Company
- 70% interest in multiple deposits in Bulgaria
- Established private Bulgarian miner as partner (Gorubso) & access to existing permitted carbon-in-leach (CIL) plant
- Goal to build a production profile of >100,000 ounces per year, sustainable over 10 years
- Most advanced deposit, Rozino, exhibits many of the key characteristics of
Atlantic’s MRC Mine, namely:
- AISC of ~US$550-650/oz, Rozino PEA After Tax NPV5 of C$129m, 33% IRR
(at US$1,500/oz, after tax NPV5 of C$207m, 46% IRR)
- Low initial capex
- Low strip ratio deposit with a 1.51 g/t Au LoM gold grade
- Resource expansion potential at existing deposits
- Simple metallurgy and conventional processing methods
- Potential for multiple open pits which could be treated through a central milling facility
- An under-explored gold belt, with little if any modern gold exploration
- Advancing to Pre-feasibility Study Q2 2020
- Artemis Equity Ownership & Rights:
- 19% of VLC issued & outstanding shares
- 39% on a partially-diluted basis with conversion of warrants and convertible debenture
- The ability to nominate up to 2 directors depending on ownership level
- Pro rata participation rights in equity securities offerings as long as Artemis owns 10% or more of Velocity
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Velocity Minerals
www.artemisgoldinc.com | TSX Venture: ARTG
*All-in Sustaining Cost (“AISC”) is defined as all cash costs related to mining and processing to final product. It includes on-mine and off-mine costs (direct and indirect). Sustaining capital costs related to continuing the business including exploration, development and equipment required to sustain production are included. Taxes, working capital, M&A, disposals and acquisitions as well as new mine development capital costs are excluded. AISC is an industry financial measure that has no definition under Canadian GAAP. As a result, AISC cannot be compared betweencompanies or individual operations.
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GK Project
www.artemisgoldinc.com | TSX Venture: ARTG
- Early-stage exploration property, located approx. 17 km west of the community of
Telegraph Creek, NW British Columbia, near infrastructure in a belt of major copper-gold porphyry and gold-rich vein deposits
- Located in BC’s prolific Golden Triangle area; in close proximity to Red Chris Mine,
Golden Bear, and Brucejack Mines
- Multiple very strong gold-copper geochemical anomalies
- Rock sampling has returned peak values of 47.5 g/t gold, 15.9% copper, 120 g/t
silver and 0.21% cobalt
- Initial program of $400,000 covering magnetic/VTEM surveys, 1000 samples as
well as trenching
- Phase 2 program may then be initiated based on the initial program which would
include diamond drilling
All amounts are in Canadian Dollars unless otherwise noted.
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Board
www.artemisgoldinc.com | TSX Venture: ARTG
Steven Dean Chairman, Chief Executive Officer & Director
Steven Dean has extensive experience internationally in mining, including as President of Teck Cominco Limited (now Teck Resources Ltd.). Prior to joining Teck, Mr. Dean was a founding member of management of the Normandy Poseidon Group, (which became Normandy Mining) a co-founder of PacMin Mining Corporation which became a subsidiary of Teck Corporation in 1999. He was also a co-founder and former chairman of Amerigo Resources Ltd. More recently, Mr. Dean was Chairman and CEO and founder of Atlantic Gold Corporation, focused on gold exploration, development and production in Nova Scotia, which was sold to St. Barbara Limited in 2019 for $802 million after building its Moose River Consolidated Mine on time and on budget and operating at lowest decile cost profile in the gold sector.
- Mr. Dean is a recipient of the 2020 Viola R. MacMillan Award from the Prospectors and Developers Association of Canada (PDAC) for individuals demonstrating leadership in
management and financing for the exploration and development of mineral resources. He is the former Chairman and a current director of Sierra Metals Inc. (TSX:SMT), Chairman of Oceanic Iron Ore Corp. (TSX-V:FEO) and a director of St Barbara Limited (ASX:SBM).
Robert G. Atkinson Director
Robert Atkinson has been in the investment industry for over 30 years. He is former President and CEO of Loewen Ondaatje McCutcheon & Co Ltd., a Canadian investment dealer. Mr. Atkinson also serves as a Director of Quest Capital Corp, a Toronto Stock Exchange listed company. Mr. Atkinson also serves as a director of Flinders Resources Ltd., Tasman Metals Ltd. and Hansa Resources Ltd., and served as the Vice Chairman of Atlantic Gold Corporation up to 2019. Mr. Atkinson received a B.Comm. degree from the University of British Columbia in 1963.
Ryan Beedie Director
Ryan Beedie is the President of Beedie Development Group, a leader in industrial and residential real estate development in British Columbia. Ryan also supports multiple philanthropic causes, including, with his father Keith, establishing the Beedie School of Business at Simon Fraser University. Ryan is the recipient of a variety of awards and acknowledgements including the 2004 Business in Vancouver's '40 under 40', the Ernst & Young 2009 BC Entrepreneur
- f the Year Award, the Queen Elizabeth II Diamond Jubilee Medal in 2013 and
Simon Fraser University's Corporate Impact Award in 2015. He completed his undergraduate degree at Simon Fraser University, followed by an MBA at University of British Columbia.
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Board
www.artemisgoldinc.com | TSX Venture: ARTG
Chris Batalha Chief Financial Officer & Corporate Secretary
Chris Batalha is a Certified Professional Accountant with over seven years’ experience in accounting, finance, corporate governance and M&A with a number of mining exploration and development companies in the gold and iron ore space. Over the past several years, Mr. Batalha has been the CFO of Atlantic Gold Corporation, managing financial planning, financial risk and financial reporting until its sale to St. Barbara Limited in 2019. Mr. Batalha also spent five years with PwC in the audit and assurance group and holds his CPA and CA designations.
Alastair Tiver Vice President Projects
Alastair Tiver has more than 30 years of international mining experience in project evaluations, reserve estimation and mine development in base and precious metals. He has consulted on numerous projects worldwide, and for the past 14 years he has been involved in project development within Canada. He has held senior management roles in several companies including, BC Metals Corporation, Copper Mountain Mining Corporation, Yellowhead Mining Inc and Atlantic Gold Corporation. Mr. Tiver is a registered professional engineer (P.Eng. EGBC), a Member of the Australasian Institute of Mining and Metallurgy and holds a Master’s in Business Administration.
David Black Director
David Black is a retired corporate and securities lawyer and former partner and associate counsel with DuMoulin Black, a law firm established in 1966 specializing in the provision of corporate, securities and finance legal services to natural resource and commercial/industrial companies.
William Armstrong, P.ENG. Director
William Armstrong earned his Bachelors and Masters degrees in Geological Engineering from the University of British Columbia and has more than 45 years’ experience in the mining industry. He recently retired from Teck Cominco Ltd., where he was General Manager, Resource Evaluations, and responsible for evaluation of potential acquisitions and divestitures. He was also responsible for the company's mineral reserves and resources. During his career with Cominco Ltd., and Teck Cominco Ltd., Mr. Armstrong has been involved in feasibility studies, construction and operation of a large number of mines, including coal deposits, underground and open pit base metal mines and precious metal mines. Mr. Armstrong is fluent in English and Spanish.
Team
Capital Structure
9 www.artemisgoldinc.com | TSX Venture: ARTG
- Market Cap (C$1.62): $78MM
- Issued Capital:
- 48,207,882 Shares Outstanding
- 36,240,630 Warrants ($1.08 strike price)
- 1,720,000 Options ($1.16 - $1.30 strike price)
- Cash on Hand: $28.5MM (at 03/31/2020)
Ownership
Board and Management Large Institutional (Including Blackrock and Sentry) Former Atlantic Gold Shareholders & Others
41% 41% 45% 45% 14% 14%
All figures as of May 29, 2020 unless otherwise noted. All amounts are in Canadian Dollars.
Artemis Gold Inc.
+1 (604) 558-1107 | info@artemisgoldinc.com 3083 - 595 Burrard Street, Vancouver, BC, Canada V7X 1L3 www.artemisgoldinc.com