company overview - CORO Mining Corp.
Transcrição
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 1 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 2 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. 3 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 4