company overview - CORO Mining Corp.

COMPANY OVERVIEW
TSX: COP- Mar 2010
BUILDING A NEW COPPER-GOLD DEVELOPMENT COMPANY IN
SOUTH AMERICA
www.coromining.com
CORO is well positioned to take advantage of the increasingly positive outlook towards mining in Mendoza,
Argentina through its San Jorge Copper-Gold Concentrate Project which has a very manageable CAPEX
($277million) and a low operating cost (net cash cost $0.69 per pound of copper). Coro is currently awaiting
the final approval of the Environmental Impact Study (“EIS”) which is anticipated in Q2 2010.
CORO completed an Independent Preliminary Economic Assessment (“PEA”) in April 2008, which indicated the
San Jorge Project had an NPV (@ 10%) of $220 million (Using a copper price of $2.00 /lb and a gold price of
$600/ oz). The Company estimates using prices that better reflect current prices (copper price of $3.00 per lb
and gold of $1,000/ oz) the San Jorge Project NPV (@10%) is $677 million.
CORO’s experienced management team has also compiled an attractive exploration portfolio in Chile to provide
a further pipeline of projects, thus growth. Coro’s Management is well supported by an experienced Board of
Directors and a strong supportive shareholder base.
SAN JORGE
M&I
RESOURCE
2.1 billion lbs
Cu
1.2 million oz
Au
PERMIT
Q210
CAPEX
$277m
DFS
Q211
At $3 Cu & $1,000 Au NPV (@10%) = $677m
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PROD.
40,000 Cu (t)
39,000 Au oz
(16+yrs)
SAN JORGE OVERVIEW
San Jorge (acquiring 100%) is a medium sized copper-gold porphyry project located in the Las Heras Department,
Mendoza, Argentina. Las Heras is a pro-mining district where there is little or no competing agricultural interests, low
population density and no competition for water resources (which exist on the property). Coro owns the surface rights
through its ownership of a 120,000 hectare ranch. The Company has completed a pre-feasibility study (“PFS”) on the
leachable copper resources and a preliminary economic assessment (“PEA”) on the secondary and preliminary copper
resources.
(Water source located on San Jorge property)
PEA Concentrate Only Economics – Apr08
Mine Life
Environmental Impact Study
16 yrs
Initial Capital Cost (+/- 30%)
$277 m
Total Cu Production (lbs)
1,393 m
Total Au Production (ozs)
629,000
Cash Cost (Yrs 1-5) (per lb)
$0.91
Gold Credit (at $600/oz gold)
$0.22
Net Cash Cost
$0.69
28.6%
After Tax NPV (@10%)
$220m
OCT 08
EIS Accepted for Evaluation
MAR 09
UTN Appointed for Technical Review
APR 09
UTN Completes Independent Evaluation
Sectorial Review
NPV and IRR at $600/oz gold and $2.00/lb Cu
After Tax IRR
EIS Submitted for Approval
FEB 10
Formal Public Meetings
Q110
Environmental Minister Approval
Q210
Provincial Ratification (EIS Approval)
Q210
In Pit Resources - @ 0.30% Cu Cutoff
Domain
Type
Tonnes
(millions)
CuT
%
SEPT 09
Au
(g/t)
Cu (lbs)
(millions)
Au
(000’ozs)
Enriched
M&I
26
0.65
0.21
374
177
Primary
M&I
136
0.43
0.19
1,297
852
Total
M&I
152
0.48
0.20
1,671
1,029
Oxides
M&I
32
0.53
0.22
380
228
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EXPLORATION OVERVIEW
The team of Alan Stephens (President & CEO) and Angelo Peri (VP Exploration) with their extensive backgrounds and
success in mining industry for 30+ years is a huge asset to Coro Mining Corp. and will ensure that the Company always
has an attractive and exciting exploration program.
During the recent financial downturn the Company has managed to maintain its core exploration prospects and has
recently completed successful short drill programs at Llancahue and Chacay.
PROJECTS
Llancahue
(Cu, Mo, Ag)
Staked in 2008. Two short drill programs in 2009 with Hole LLA07 highlighting an interception of
100m at 1.38% Cu & 0.015% Mo & 3.8 g/t Ag and LR04 returning 36m at 2.43% Cu & 0.10% Mo
& 5.8 g/t Ag.
Chacay
(Cu)
100% owned located 12km SE from Teck’s Relincho project. Significant past drilling by BHP and
Anglo but assays not available. Coro drill testing in 2009 was highlighted with hole CHCRC09
with an interception of 88m at 0.47% Cut with excellent solubility. Three of the four widely
spaced holes intercepted the secondary enrichment blanket. Further drill testing planned in 2010
Other Properties
Pocillas- Au, Talca Belt of Properties (15,500 hectares)-Cu/ Au, Gloria Property-Cu, Celeste-Cu
PIPELINE
STRATEGY
To continue to acquire exploration prospects in Latin America to build a pipeline of projects
CORO also holds a 20.6% interest (9,140,353 common shares) in Valley High
Ventures (TSX-V: VHV) which has a 49% interest in the Cordero Property as
well as other exploration properties within Canada. Valley High Ventures is
led by Rob Cameron (President & CEO) who has extensive exploration
experience.
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CORPORATE INFORMATION
FOR MORE INFORMATION:
Contact: Michael Philpot
Suite 1280 – 625 Howe Street, Vancouver BC, Canada, V6C 2T6
Phone (604) 682 5546 Fax (604) 682 5542
[email protected] – www.coromining.com
(Photo of San Jorge Camp)
DIRECTORS AND OFFICERS:
Market Capitalization – February 28, 2010
Coro’s Board of Directors and senior management have a
proven track record in exploration, development, financing and
building successful mining companies. Coro is well-positioned
to purse its objective of broadening the Company’s portfolio
along with verifying and developing its principal properties.
Shares Outstanding (million)
91.4
Warrants Outstanding (million)
30.1
Options Outstanding (million)
6.5
Fully Diluted (million)
128.0
EXECUTIVES
Share Price
$0.47
Alan Stephens - President & CEO, Director
Michael Philpot - VP & Corporate Secretary, Director
Damian Towns - CFO
Marcelo Cortes - VP Project Development
Angelo Peri - VP Exploration
Market Capitalization
$43m
OTHER DIRECTORS
Robert Watts - Chairman, Independent Director
R. Stuart Angus - Independent Director
Rod Webster - Independent Director
Alvin Jackson - Independent Director
Gordon Fretwell - Non-executive Director
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