Corporate Presentation Yenipazar Polymetallic Mining Project a - - PowerPoint PPT Presentation

a wholly owned subsidiary of

Corporate Presentation

Yenipazar Polymetallic Mining Project

Sept 2019

CAUTIONARY STATEMENT

Certain statements in this presentation constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections,

• bjectives, assumptions, potential future events or performance (often, but not always, using words or phrases such as “believes”, “expects” “plans”,

“estimates” or “intends” or stating that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “are projected to” be taken or achieved) are not statements of historical fact, but are forward-looking statements. Forward-looking statements relate to, among other things, all aspects of the development of the Yenipazar project in Turkey and its potential operations and production; the outcome and timing of decisions with respect to whether and how to proceed with such development and production; the timing and outcome

• f any such development and production; estimates of future capital expenditures; mineral resource estimates; estimates of permitting timelines; statements

and information regarding future studies and their results; production forecasts; future transactions; future metal prices; the ability to achieve additional growth; future production costs; future financial performance; future financing requirements; and mine development plans. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company’s control, affect the operations, performance and results of the Company and its business, and could cause actual results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include fluctuations in the price of gold, silver, copper, lead and zinc; variations in the cost

• f operations; the availability of qualified personnel; the Company’s ability to obtain and maintain all necessary regulatory approvals and licenses; risks

generally associated with mineral exploration and development, including the Company’s ability to develop the Yenipazar project; the Company’s ability to

• btain financing when required on terms that are acceptable to the Company; challenges to the Company’s interests in its property and mineral rights;

current, pending and proposed legislative or regulatory developments or changes in political, social or economic conditions in Turkey; general economic conditions worldwide; and the risks identified. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. Forward-looking statements are based on management’s current plans, estimates, projections, beliefs and opinions, and except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements. The views, opinions and advice provided in this presentation reflect those of the individual presenters and are provided for information purposes only. All dollar figures are stated in United States (“US”) dollars unless stated otherwise.

2

3

INVESTMENT HIGHLIGHTS

De-Risked Execution (Updated NI 43-101 and All Permits Obtained) De-Risked Execution (Updated NI 43-101 and All Permits Obtained) Attractive Project Economics (IRR > 32%, NPV: ~US$300M) Attractive Project Economics (IRR > 32%, NPV: ~US$300M) High-Quality Asset (Gold, Silver, Copper, Lead, Zinc) High-Quality Asset (Gold, Silver, Copper, Lead, Zinc) Clear Pathway to Immediate Construction Clear Pathway to Immediate Construction Shovel-Ready Project with Near-Term Value-Creation Milestones Shovel-Ready Project with Near-Term Value-Creation Milestones

1 2 3 4 5

4

PROJECT HIGHLIGHTS – YENIPAZAR

• 1. High

Quality Asset

• 2. Attractive

Project Economics(2)

• 3. De-Risked

Execution

• High-grade, shovel-ready open pit VMS deposit – 2.3Moz at 2.42g/t AuEq(1)
• Polymetallic deposit provides commodity diversification
• Significant exploration upside with 90% of prospective property unexplored
• Conventional flowsheet with clean concentrates
• Strong existing partnerships, including offtake with ability to blend concentrates
• Low capital costs of US$218 million plus capitalized SG&A costs of US$12 million
• Low operating costs with LOM co-product cash costs <US$680/oz AuEq
• Strong cash flow generation potential with average annual EBITDA of >US$110 million and

UFCF over 10 years of ~US$920 million at a cash cost of <US$660/oz AuEq

• After-tax project NPV10% of ~US$300 million and unlevered IRR of >32%
• Turkish-American CEO and executive team based in Turkey with support and sponsorship of

strong local partner

• Trafigura is a strong marketing and offtake partner, additionally providing technical

expertise and confirming product saleability

• Long standing relationship with the community, along with local, state and federal

governments

• Fully permitted, including Operational License
• Infrastructure in place including road, rail, port, power, water, and qualified labour
• 2019 Feasibility Study and Optimization Study update complete with detailed capex and
• pex estimates based on a comprehensive tender process
• Land acquisition process completed
• Indicative term sheets for project finance up to US$200M received

(1) Based on updated 2019 Optimization Study (2) Based on street consensus metal prices attached in Appendix

5

TURKEY IS AN ATTRACTIVE MINING JURISDICTION

Strong Support for Mining in Turkey

• Significant increase in mining sector GDP
• No. 1 gold producer in Europe
• Mature construction industry
• Diverse and highly qualified labor force
• No security issues within the mining sector

People

• Turkish-American CEO leads a team of

highly-experienced employees in Turkey

• Access to highly-productive and low-cost

labor force with mining expertise Local Partner

• Metallurgium Investment Limited
• In depth understanding of Turkey, including

the political environment Policy

• Government focused on attracting foreign

mining investment

• Investment incentives to lower corporate

tax to below 10% into 2027

• More than one mine development per year

during the last ~20 years

~15 gold mines built or in development in Turkey in the last 10 years 1 2 3 4

US$350M Project Finance US$150M Project Finance

(Çöpler) (Öksüt)

US$120M Project Finance

(Gokırmak)

6

ATTRACTIVE LOCATION AND SITE CONDITIONS

EGLENCE VILLAGE

TMF

TAILINGS BEACH TAILINGS BEACH WRD WRD Waste Rock Dump (WRD) pit backfill (starts Year 5) Waste Rock Dump (WRD) pit backfill (starts Year 5)

CLEAN WATER POND CLEAN WATER POND TAILINGS POND TAILINGS POND

PLANT PLANT PIT PIT OUTCROPS OUTCROPS 100 sq. km concession N 1 km

Established strong community relations with existing infrastructure in place

10 km2 Project Fence Line 10 km2 Project Fence Line 10 km2 Project Fence Line 10 km2 Project Fence Line

7

SHALLOW OPEN PIT

Simplified Longitudinal Section of the Yenipazar Au-Ag-Cu-Pb-Zn Massive Sulphide Deposit, Central Turkey

Flat lying, well distributed deposit

• pen along strike to the north

NORTH SOUTH

8

EXPLORATION UPSIDE

Significant upside potential to the North

• Drill holes located on the boundary of the

reserve area confirmed mineralization extending to the north

• Indicated grades for both precious and

base metals are higher than the average grades reported for the project’s reserves

• NE-03: 6.13% lead, 7.78% zinc, 1.06%

copper, 1.79 g/t gold and 118 g/t silver over 17m

• NE-04: 5.48% lead, 4.84% zinc, 0.56%

copper, 3.11 g/t gold and 116 g/t silver over 14m

• NE-05: 2.06% lead, 2.32% zinc,

0.013% copper, 0.50 g/t gold and 42 g/t silver over 16m

North end of pit

90% of concession unexplored

NE-05 NE-03 NE-04

9

HIGH-GRADE RESERVE BASE

Notes on Mineral Reserves: 1. Mineral reserves are as of April 15, 2014, see press release for full details. 2. The mineral reserves are based on NSR cut-off values of US$ 17/t for oxide and US$ 20/t for copper-enriched and sulphide mineralization. 3. The reserve estimate is based on a resource estimate (see news release dated November 26, 2012). The metal prices used to derive the data for that resource estimate were reduced in the Optimization Study to Cu US$ 2.90/lb, Pb US$ 0.95/lb, Zn US$ 0.90/lb, Au US$ 1,250/oz and Ag US$ 20/oz. Due to the more than 4 times NSR value over NSR cut-off, this reduction is not expected to materially affect the reserve tonnage and grades. 4. The mineral reserves used the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.

~30M tonne reserve 12 year mine life +70,000 meters drilled High-grade for open-pit: 2.42 g/t Au equivalent Reserve Estimate: Updated 2019 Optimization Study

Contained Metal Probable Reserves Tonnage Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) NSR ($/t) Au (M oz) Ag (M oz) Cu (M lbs) Pb (M lbs) Zn (M lbs) Oxide 3,214,000 0.83 23.2 0.24 0.96 0.54 42.24 0.09 2.40 16.67 68.02 38.31 Cu-Enriched 2,547,000 0.89 32.9 0.44 0.94 1.15 72.07 0.07 2.70 24.65 52.69 64.76 Sulphide 23,407,000 0.89 29.9 0.29 0.95 1.54 90.08 0.67 22.52 149.72 489.67 795.38 Total 29,168,000 0.88 29.4 0.30 0.95 1.40 83.24 0.83 27.61 191.05 610.37 898.46

Source: Updated 2019 Optimization Study

10

CONVENTIONAL PROCESS FLOWSHEET

High-grade concentrates with minimal deleterious elements CRUSHING TAIL GRINDING AND CLASSIFICATION GRAVITY CIRCUIT FLOTATION CU FLOTATION PB FLOTATION ZN FLOTATION GOLD LEACHING (DORÉ)

Simple & proven technology

Total recoveries – Sulphide zone

Years 1-4 Au: 82% Ag: 72% Cu: 75% Pb: 73% Zn: 62% Years 5-11 Au: 79% Ag: 76% Cu: 72% Pb: 70% Zn: 77%

The tailing materials will be stored behind a significantly large embankment constructed of mine

• waste. Additionally, the impoundment is located in a

flat area that will be double lined with clay and

• geomembrane. Accordingly, the Tailing Storage

Facility design, construction and operation will incorporate elements that would increase the safety beyond generally accepted standards.

Well understood metallurgy similar to the MATSA operation located in the Iberian Pyrite belt and jointly owned and operated by existing partner Trafigura

Source: Virtus financial model

11

LOW CAPITAL AND OPERATING COSTS

Revised Pre-production Capital Costs (Capex) in US$M Direct Pre-production development $22 Process plant and equipment $63 Tailings & waste rock dump $12 Infrastructure $23 Power transmission & substation $5 Total $125 Indirect Remaining Owner’s costs ($22M in land payments already made) $29 EPCM $13 Other indirect costs $19 Contingency $32 Total $93 Total pre-production capex $218

Source: Virtus financial model (1) Gold AISC curve from SNL Market Intelligence on a co-product basis

Life of Mine Operating Costs $ total (millions) $/tonne

• f ore

Mining – Contractor 224 7.67 Mining – Owner 21 0.72 Processing 495 16.97 G&A 84 2.87 Exploration Costs 8 0.26 Total $831 $28.49 First Quartile AISC Asset(1)

1st Quartile

$0 $500 $1,000 $1,500 $2,000 $2,500

• 20,000

40,000 60,000 2019E AISC (US$/oz AuEq) 2019E Cumulative Paid Gold Production (koz) Yenipazar Estimated LOM AISC

12

Gold 34% Zinc 23% Copper 16% Lead 15% Silver 13% Gold Dore 31% Zinc Con. 25% Lead Con. 24% Copper Con. 20%

SIGNIFICANT CASH FLOW GENERATION POTENTIAL

EBITDA by Year (US$M) Average EBITDA per year >US$110 million(1) over 10 years following construction and ramp-up LOM Production LOM Annual Average Gold (oz) 646,299 53,858 Silver (Moz) 19 1.6 Zinc (Mlbs) 584 48.7 Copper (Mlbs) 121 10.1 Lead (Mlbs) 385 32.1 Revenue by Metal(1) Revenue by Product(1) Life of mine EBITDA US$1.2 billion

Consensus Pricing(1) 10% Upside

(1) Based on street consensus metal prices attached in Appendix Source: Virtus financial model

• $40

$80 $120 $160 $200 $240 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

13

UNLEVERED FREE CASH FLOW SENSITIVITY

UFCF by Year (US$M) Average UFCF per year ~US$90 million(1) over 10 years following construction and ramp-up Project NAV Sensitivity (US$M) Life of mine UFCF US$742 million

Consensus Pricing(1) 10% Upside

LOM Revenue Sensitivity (US$M) LOM UFCF Sensitivity (US$M)

Source: Virtus financial model (1) Based on street consensus metal prices attached in Appendix

• $40

$80 $120 $160 $200 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Commodity Price

• 15%
• 10%
• 5%

0% +5% +10% +15% 5% $295 $354 $413 $470 $527 $584 $638 6% $265 $320 $376 $429 $482 $536 $587 7% $237 $290 $342 $392 $442 $492 $540 8% $212 $262 $311 $358 $404 $452 $496 9% $189 $236 $282 $326 $370 $415 $457 10% $168 $212 $256 $297 $339 $381 $420 Discount Rate Commodity Price

• 15%
• 10%
• 5%

0% +5% +10% +15% $2,048 $2,169 $2,289 $2,410 $2,530 $2,651 $2,771 Commodity Price

• 15%
• 10%
• 5%

0% +5% +10% +15% $495 $578 $662 $742 $823 $904 $982

14

PARTNERS WITH LOCAL RELATIONSHIPS & INTERNATIONAL MINING EXPERTISE

Metallurgium Investment Limited (BVI) Virtus Mining Ltd. (BVI)

70% 30%

Yenipazar Mine Property Trafigura Ventures V BV (Netherlands)

100%

* The registered owner of Aldridge Mineral Madencilik Ltd. Sti. was changed from Aldridge Minerals Inc. to Virtus Mining Ltd. on July 23, 2019. It is intended that Aldridge Minerals Inc. will be dissolved prior to the closing of Project Financing.

• Ultimate beneficial owner is a Turkish

businessman and global investor

• In depth understanding of Turkey, including the

political environment

• Investments in real estate, retail and mining
• Invested about US$40 million in Aldridge to date
• Future percent ownership will likely reduce after

equity raise

• Fully owned subsidiary of Trafigura
• One of world’s leading commodity trading firms

with 371 million mt of commodities traded in 2018

• Invests in selective high quality mining projects
• Co-owns and operates polymetallic mine in Spain

(MATSA)

• Provides project finance leadership and optimal

commercial trading through offtake agreements

• Able to benchmark operations with other existing
• perations around the world

Current Company Structure

Aldridge Mineral Madencilik

• Ltd. Sti.*

(Turkey)

15

SHOVEL-READY PROJECT WITH NEAR-TERM VALUE CREATION MILESTONES

May 2013 

• Feasibility Study Filed; Project Earn-In Completed

March 2014 

• EIA Permit Received

May 2014 

• GSM and Operating Permit Received; Optimization Study Filed

October 2014 

• Land Purchases Commence

June 2015 

• Public Benefit Decision

July 2015 

• Investments Incentive Certificates

January 2018 

• Land Acquisition Completed

February 2019 

• Extension of the Operation License (until February 25, 2024)
• Upcoming milestones:
• Application for power and power line construction – 18 months from placement of bond
• Project is shovel-ready with received Indicative term sheets for project finance up to US$200M

Early Engineering Basic Engineering Detailed Engineering Prestrip & Bulk Earthworks Non-Contact Water Pond Plant Construction Commissioning & Start up Q2 ‘19 Q3 ‘19 Q4 ‘19 Q1 ‘20 Q2 ‘20 Q3 ‘20 Q4 ‘20 Q1 ‘21 Q2 ‘21 Q3 ‘21 Q4 ‘21 Q1 ‘22 Project Finance 30 Sep 19 Completion of commissioning End 2021 Land Acquisition Complete

APPENDIX

17

PROJECT BACKGROUND

Owner Aldridge Mineral Madencilik Ltd. Sti. Project Location Tethyan mineral belt, Central Turkey Geology Metamorphosed volcanogenic massive sulphide Mining Operation Conventional open-pit utilizing contract mining Strip Ratio 5.2:1 (4.1:1 excluding pre-strip) Milling Rate 2.5 Mt/a (6,800 tpd) Milling Capacity 2.7 Mt/a (7,500 tpd) Processing Method Conventional concentrator plant consisting of crushing, grinding, gravity separation, leaching, and flotation circuits Overall Sulphide Recovery Rates Gold: 80%, Silver: 75%, Zinc: 71%, Copper: 73%, Lead: 71% Final Products Gold doré bars Zinc, Copper, and Lead Concentrates Mine Life 12 years

Source: Updated 2019 Optimization Study and Virtus financial model

18

YENIPAZAR: RECOVERIES BY ORE TYPE

Metal Total Recoveries Doré Zinc Concentrate Copper Concentrate Lead Concentrate Sulphide Yrs 1 – 4 Gold

82% 71.4% 1.4% 9.0% 0.4%

Silver

72% 2.6% 10.2% 9.7% 49.9%

Copper

75%

• 75.5%
• Lead

73%

• 73.5%

Zinc

62%

• 62.4%
• Sulphide

Yrs 5 – 11 Gold

79% 64.9% 4.4% 9.7% 0.5%

Silver

76% 4.3% 11.3% 9.7% 51.2%

Copper

72%

• 72.5%
• Lead

70%

• 69.8%

Zinc

77%

• 76.5%
• Copper-

Enriched Gold

75% 53.0% 8.4% 3.9% 10.0%

Silver

51% 5.5% 11.6% 12.9% 20.6%

Copper

47%

• 47.0%
• Lead

35%

• 35.3%

Zinc

39%

• 34.1%
• 5.3%

Oxide Gold

67% 60.3%

• 6.6%

Silver

51% 45.4%

• 5.2%

Copper

0%

• Lead

29%

• 29.0%

Zinc

0%

• Source: Virtus financial model

19

YENIPAZAR: RESOURCE AND RESERVE ESTIMATE

Notes on Mineral Resources:

• 1. Mineral Resources are as of November 26, 2012 , see press release for full details.
• 2. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
• 3. The quantity and grade of reported Inferred resources in this estimation are conceptual in nature

and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

• 4. The mineral resources in this estimate were calculated with the Canadian Institute of Mining,

Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions.

Resource Estimate

Contained Metal Tonnage (kt) Au (g/t) Ag (g/t) Zn (%) Cu (%) Pb (%) Au Eq (g/t) Au (M oz) Ag (M oz) Zn (M lbs) Cu (M lbs) Pb (M lbs) AuEq (M oz) Indicated 29,669 0.95 31.3 1.47 0.31 1.01 2.42 0.90 29.9 961.2 204.8 660.2 2.30 Inferred 369 0.47 25.5 1.89 0.18 0.94 1.88 0.01 0.3 15.4 1.5 7.7 0.02

• 5. The metal prices used to derive the data for that resource estimate were reduced in the

Optimization Study to Cu US$ 2.90/lb, Pb US$ 0.95/lb, Zn US$ 0.90/lb, Au US$ 1,250/oz and Ag US$ 20/oz.Due to the more than 4 times NSR value over NSR cut-off, this reduction is not expected to materially affect the reserve tonnage and grades.

• 6. All resources are reported within an optimized pit shell. The $15/tonne Sulphide NSR

cut-off value for resource reporting was derived from a processing cost of US$12.50/tonne and a G&A cost of US$2.50 per tonne. The $12/tonne Oxide NSR cut-off value for resource reporting was derived from a processing cost of US$9.50/tonne and a G&A cost of US$2.50 per tonne. Mining costs were US$1.35 and US$1.85 per tonne respectively for oxide and Cu enriched/sulphide and

• ptimized pit slopes were 40 degrees.

Notes on Mineral Reserves:

• 1. Mineral reserves are as of April 15, 2014, see press release for full details.
• 2. Mineral reserves are included in the Mineral Resources.
• 3. The mineral reserves are based on NSR cut-off values of US$ 17/t for oxide and US$ 20/t for

copper-enriched and sulphide mineralization

• 4. The reserve estimate is based on a resource estimate (see news release dated November 26,

2012).

Probable Reserve Estimate

Contained Metal Tonnage (kt) Au (g/t) Ag (g/t) Zn (%) Cu (%) Pb (%) NSR ($/t) Au (M oz) Ag (M oz) Zn (M lbs) Cu (M lbs) Pb (M lbs) Total 29,168 0.88 29.4 1.40 0.30 0.95 83.24 0.83 27.6 898.5 191.1 610.4

• 5. The mineral reserves used the Canadian Institute of Mining, Metallurgy and Petroleum (CIM),

CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council. Source: Updated 2019 Optimization Study

20

EXPERIENCED TEAM: DIVERSE SKILL SET

• Han Ilhan: Mr. Ilhan (BScEng & MSEng) is a Director, the President and CEO of Virtus Mining Ltd. Mr. Ilhan held the position of Vice President of Projects and Country Manager – Turkey,

at Alamos Gold Inc. from 2011 to 2014. Prior to joining Alamos Gold, Mr. Ilhan had been with URS Corporation for 27 years in the USA and was leading URS’ global mining business. As the Vice President and Director of URS’ Global Mining Business, Mr. Ilhan developed strategies and tactical plans for business growth, as well as provided technical assistance in the areas of engineering (prefeasibility to EPCM) and environmental issues/challenges. His experience covers wide range of countries around the world including USA, Peru, Venezuela, Brazil, Suriname, French Guyana, Chile, Honduras, Mexico, Switzerland, UK, Turkey, India, Australia, New Zealand, South Africa, and Libya. A Turkish-American, Mr. Ilhan is intimately familiar with the mining, investment, and political environment in Turkey as well as global mining industry standards.

• Jim O’Neill : Mr. O’Neill is the CFO of Virtus Mining Ltd. Mr. O’Neill is a Chartered Professional Accountant with over 30 years of experience with multi-national businesses in mining,

project management, manufacturing and distribution. His executive management expertise spans areas including corporate finance, administration, governance, information systems, treasury and leadership. As the CFO/VP of publicly traded junior mining companies, Mr. O’Neill has been involved with the evaluation of numerous mining projects and financing alternatives, which resulted in closing equity, debt and streaming transactions used to fund mine development and operations.

• Mark Perczuk : Mr. Perczuk (BSE & MBA) will be joining Aldridge in February 2019 as the EPC/M Director. Mr. Perczuk is an accomplished multi-discipline Projec6 Director with global

project experience and proven ability to safely manage projects in the Mining, Petrochemical, Power, Industrial Infrastructure, Materials Handling environments, and U.S. Government International Programs. He has built, developed and led multiple diverse, cross functional teams merging contributions from western and developing country nationals and ex-patriots in Turkey (Alacer’s Copler Mine) and other countries.

• Zafir Ekmekci : Mr. Ekmekçi (BSc, MSc, PhD, SME RM) has been involved in metallurgical testing and process plant design studies for Yenipazar Project since 2010. He is

Director/Principal Consultant at Hacettepe Mineral Technologies Inc and an instructor/researcher at Hacettepe University, Mining Engineering Department, Ankara, Turkey. .He has experience in; Design, execution, supervision, and reviewing of laboratory and pilot plant testwork of mineral processes; Flowsheet development and equipment selection and sizing; Performance optimization of mineral processing plants.

• Greg Morris : Mr. Morris (BScEng & HonsBCom) will provide overall guidance for engineering and construction activities within Aldridge Team. He is Trafigura’s Projects General

Manager since 2012 with overall responsibility for the capital projects and feasibility studies in the Mining Group. Prior to Trafigura he was COO of Anvil Mining in DRC from 2011 to 2012 and in various engineering and project management roles with Anglo American from 1997 to 2010, mainly in southern Africa. Domain of expertise include project management, engineering and studies in mining and mineral processing. The Trafigura Mining Group comprises a team of mining, mineral processing and associated engineering and management specialists based at Trafigura offices across the globe. This group manages and provides technical services to Trafigura’s mining assets and operations, as well reviewing and developing new investment and trading opportunities.

• Vladimir Slatic : Mr. Salatic (BSc in Mineral Processing) will provide overall guidance for metallurgy and process plant design within the Aldridge Team. He is Trafigura´s Principal

Process Engineer since 2015. Previously, from 2011, he was involved as a Plant Manager in production and had a key role in expansion of MATSA operation, Trafigura´s asset in Spain. During his 25+ year experience working in Cu/Pb/Zn operations in North America, Central America & Caribbean, Africa and Europe covering positions from Plant Metallurgist through Chief Metallurgist to Operation and Commissioning Manager he acquired experience in Laboratory Design, Plant Commissioning & Ramp-Up following the Plant Production, Supervision and further Optimization.

• Pedro Repetto: Mr. Repetto (CE, MSCE, P.E., SME) has been involved with the Project since 2012 and will provide overall guidance and review for geological and geotechnical

investigations, mine planning, tailings disposal, water supply and environmental and social studies. His experience comprises over 500 projects in more than 25 countries, including

• Turkey. Until 2008 he was a Senior Principal and Vice President of URS Corporation (now AECOM) in Denver. In 1996 he was elected Geotechnical Engineer of the Year by the

Philadelphia Section of the American Society of Civil Engineers. He served as URS’ representative at the Geosynthetics Research Institute. He has been co-Principal Investigator for three National Science Foundation-sponsored earthquake engineering research projects.

a wholly owned subsidiary of