april 2014 wellgreen platinum factsheet
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TRANSCRIPT
Toll Free: +1.888.715.7528Telephone: +1.604.569.3690Email: [email protected]
TSX-V: WGOTC-QX: WGPLF
WELLGREENYukon, Canada
PGM - Ni- Cu
SHAKESPEAREOntario, Canada
PGM - Ni- Cu
INVESTOR FACT SHEETApril 2014
Key Components for Successful Project Development
7M oz PGM+Au, 2B lbs nickel, 2B lbs copper estimated metal production1
3rd largest undeveloped PGM resource outside southern Africa or Russia2
Projected potential to be one of the largest PGM producers in North America at low cash costs from base metals credits
Executive team with track record of success in large scale project development, operations and project financing; specific PGM, Yukon & Sudbury District experience
Expansion potential along strike and at depth with 3 large scale, high potential exploration targets
The Yukon is ranked in the top 20 of global mining jurisdictions by the Fraser Institute
Severe supply risk as production concentrated in politically unstable jurisdictions; steady demand growth from all sectors
STRONG PGM SUPPLY /DEMAND FUNDAMENTALS
MINING FRIENDLY, LOW POLITICAL RISK
PRODUCTION PROFILESIZE
EXPLORATION POTENTIAL
EXPERIENCED MANAGEMENT
1 This number reflects estimated metal production found in the NI 43-101 technical report entitled “Wellgreen Project Preliminary Economic Assessment, Yukon, Canada” dated August 1, 2012 (the “2012 Wellgreen PEA”) and prepared by Andrew Carter, Eur. Eng, C.Eng., Pacifico Corpuz, P. Eng., Philip Bridson, P.Eng, and Todd McCracken, P.Geo of Tetra Tech Wardrop Inc. This technical report is available under the Company’s SEDAR profile at www.sedar.com.
Wellgreen Platinum | TSX-V: WG discover. | www.wellgreenplatinum.com
Stillwater only has Proven and Probable mineral reserve numbers, which are the economically minable part of Measured & Indicated mineral resource. Sources: Pacific North West – Investor Presentation, Fall 2013; Platina Resources – New Resource Estimate announcement July 2013; Duluth - Company presentation Dec. 2013 (M&I consists of only Indicated); Polymet - Updated NI 43-101 Technical Report on the NorthMet Deposit, Jan 2013; Stillwater - Company presentation Sep. 2013 and 2012 Annual Report; North American Palladium – Jan. 2014 Company presentation; Wellgreen Platinum - 2012 Wellgreen PEA. 1 Wellgreen estimated production is based on indicated and inferred resource. *Platinum production projection includes gold converted to platinum on a 1:1 basis. The qualified persons responsible for this Presentation have been unable to verify the information pertaining to other mines and this information is not necessarily indicative of the mineralization on the Wellgreen property and the expected production therefrom.
Drilling Station
7MOUNCES PGM+AU
*
2BPOUNDS NICKEL
*
2BPOUNDS COPPER
*
4 Updated resource estimate: Q2 2014 4 Marked increase in valuation in advanced stages
(US$/oz)
Ente
rpris
e Va
lue
/ Pt
Eq.
Res
ourc
e
Developers ProducersAdvanced Developers
Pt Eq. calculation includes platinum, palladium & gold
8
Note: EV as of Jan. 22,2014. Mineral resource includes Pt, Pd & Au. Pt Eq. calculated based on the following metal prices: Pt $1,270.38/oz, Pd $465.02/oz and Au $1,102.30/oz.Stillwater only has Proven and Probable mineral reserve numbers, which are the economically minable part of Measured & Indicated mineral resource. Sources: Pacific North West – Financial Statements forthe six months ended Oct. 31, 2013; Platina Resources - 2013 Annual report year ended June 2013; Duluth - Company presentation Dec. 2013 and Q3 2013 Financial Statements; Polymet - Updated NI 43-101Technical Report on the NorthMet Deposit, Jan 2013; Stillwater - Company presentations Sep. 2013 and Jan. 2014 and Q3 2013 Financial Statements; North American Palladium - 2013 Q3 Interim FinancialReport and Jan. 2014 presentation; Wellgreen Platinum – Q2 2014 Financial statement and 2012 Wellgreen PEA. Readers should note that the 2012 Wellgreen PEA is preliminary in nature, in that it includesInferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is nocertainty that the 2012 Wellgreen PEA will be realized. A Mineral Reserve has not been estimated for the project as part of the 2012 Wellgreen PEA. A Mineral Reserve is the economically mineable part of aMeasured or Indicated Mineral Resource demonstrated by at least a prefeasibility study.
PGM COMPANY VALUATIONSLow Political Risk Jurisdiction Peers
Average EV/Pt Eq.
$3/oz
Average EV/Pt Eq.
$30/oz
Average EV/Pt Eq. $130/oz
| Corporate Overview l Executive Summary | Proven Project Management | PGM Company Valuations | Wellgreen Overview | Appendix
$-
$50
$100
$150
$200
$250
Platina Resources(Greenland)
Pacific North WestCapital (Ontario)
Wellgreen Platinum(Yukon)
Duluth Metals(Minnesota)
Polymet (Minnesota) Stillwater(Montana/Ontario)
North AmericanPalladium (Ontario)
Ente
rpris
e Valu
e / Pt
Eq. R
esou
rce
* These are estimated metal production numbers from the 2012 Wellgreen PEA.
PGM Production Projection Comparison* (N. American)
Wellgreen Districk Exploration Potential
PGM Company Resource Comparison PGM Company Valuations1 (N. American & Australian)
0
5
10
15
20
25
Pacific North West(Ontario)
Polymet (Minnesota) Prophecy Platinum(Yukon)*
Platina Resources(Greenland)
Duluth Metals(Minnesota)
North AmericanPalladium (Ontario)
Stillwater(Montana/Ontario)
PGM
+ A
u (M
oz.)
Measured & IndicatedInferred
Explorers and Developers Producers
A Key Exploration Objective is to
Increase Measured & Indicated
Wellgreen Platinum*(Yukon)
7
Note: Resource includes platinum, palladium and gold. Stillwater only has Proven and Probable mineral reserve numbers, which are the economically minable part of Measured & Indicated mineral resource.Sources: Pacific North West – Investor Presentation, Fall 2013; Platina Resources – New Resource Estimate announcement July 2013; Duluth - Company presentation Dec. 2013 (M&I consists of only Indicated);Polymet - Updated NI 43-101 Technical Report on the NorthMet Deposit, Jan 2013; Stillwater - Company presentation Sep. 2013 and 2012 Annual Report; North American Palladium – Jan. 2014 Companypresentation; Wellgreen Platinum - 2012 Wellgreen PEA. Readers should note that the 2012 Wellgreen PEA is preliminary in nature, in that it includes Inferred Mineral Resources that are considered toospeculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the 2012 Wellgreen PEA will be realized.A Mineral Reserve has not been estimated for the project as part of the 2012 Wellgreen PEA. A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstratedby at least a prefeasibility study. *Wellgreen mineral resource expressed as Pt Eq. including Pt, Pd & Au.
Reserves
Resources
PGM COMPANY RESOURCE COMPARISONLow Political Risk Jurisdiction Peers
| Corporate Overview l Executive Summary | Proven Project Management | PGM Peer Comparison | Wellgreen Overview | Appendix
*Source: Vale-Sudbury: Vale-Production report 2011(http://bit.ly/Z6qDV4); Stillwater Mine and East Boulder Mine: Q4 2011 Earnings Release (http://bit.ly/VMEkYH); Nickel Rim South: Johnson Matthey estimates (Raglan not included); NA Palladium-Nickel Rim South: NAP Annual Report 2011 (http://bit.ly/Vvn2t7). Wellgreen projections are average annual life of mine metals produced in concentrate based on the 2012 Wellgreen PEA.
300
250
200
150
100
50
Palladium Production (000 oz.)
Production Comparison
Wellgreen Platinum1
Wellgreen*(PEA Projection)
Potential to be 3rd largest
producer in North America
PGM PRODUCTION PROJECTIONS COMPARISONCompared to the Largest PGM Producing Mines in Low Political Risk Jurisdictions
10
Source: Vale-Sudbury: Vale-Production report 2011 (http://bit.ly/Z6qDV4) provides consolidated production for six Sudbury mines, which management allocated based on internal estimates; Stillwater Mine andEast Boulder Mine: 2013 Earnings Release; Nickel Rim South: Johnson Matthey estimates (Raglan not included); North American Palladium-Nickel Rim South: Annual Report 2013. Kevitsa 2013 results from first-quantum.com *Wellgreen projections are average annual metals produced in concentrate in first 24 years of mine life based on the 2012 Wellgreen PEA.1 Wellgreen estimated production is based on indicatedand inferred resource. The qualified persons responsible for this Presentation have been unable to verify the information pertaining to other mines and this information is not necessarily indicative of themineralization on the Wellgreen property and the expected production therefrom..
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25
50
75
100
125
150
Stillwater -Stillwater Mine
Vale - Coleman WellgreenPlatinum -Wellgreen
Xstrata - Nickel RimSouth
Stillwater - EastBoulder Mine
First Quantum -Kevitsa
NA Palladium - Lacdes Iles
Plat
inum
Pro
duct
ion
(000
oz.
)
Platinum Production
Palladium Production
(Left axis)
(Right axis)
Scale displays Palladium value relative to Platinum
Wellgreen Platinum1
Wellgreen*(PEA Projection)
| Corporate Overview l PGM Fundamentals | PGM Peer Comparison | Wellgreen Overview | Shakespeare Project | Appendix
Platin
um Pr
oduc
tion (
0000
oz.)
Palla
dium
Prod
uctio
n (00
00 oz
.)
4 Projected potential to be one of the largest PGM producers in North America at low cash cost from metals credits
discover. | www.wellgreenplatinum.comWellgreen Platinum | OTC-QX: WGPLF
*PEA model head grades smoothed by reducing head grades 10% in 2025, 10% in 2027, 40% in 2028, 20% in 2030, 15% in 2034 and 10% in 2037. **Pt Eq. calculated as Pt Eq. = Pt + Pd x $465.02/$1,270.38 + Au x $1,102.30/$1,270.38, based on the 2012 Wellgreen PEA, which evaluated the economics of various metal price scenarios. The table above uses the scenario in the 2012 Wellgreen PEA that considered LME trailing 3-year average price minus 20% as of July 6, 2012. Readers should note that the 2012 Wellgreen PEA is preliminary in nature, in that it includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the 2012 Wellgreen PEA will be realized. A Mineral Reserve has not been estimated for the project as part of the 2012 Wellgreen PEA. A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a prefeasibility study. 2 Mineral resources that are not mineral reserves do not have demenstrated economic viability.
4 South Africa, Russia and Zimbabwe account for 93% of global Pt supply and 83% of Pd supply
4 ~70% of Pt producers’ all-in costs exceed avg. Pt price
Palladium Supply by Region 20136.58Moz
Source: CPM Group Precious Metals Advisory estimates
Wellgreen Economic Model Output - Based on the August 2012 PEA*
Mill throughput 32,000 tpd Mine Life 37 years
Initial capital $863M Average strip ratio 2.57:1
Metals Payable **Pt Eq.(koz)
Pt(koz)
Pd(koz)
Au(koz)
Ni(Mlbs)
Cu(Mlbs)
Co(Mlbs)
Average annual - First 24 years 138.5 68.9 92.4 41.3 50.4 59.1 3.5
Total - first 24 years 3,325 1,654 2,217 990 1,209 1,420 84
Average annual - life of mine 118.1 60.3 80.8 32.5 45.2 50.9 3.1
Total - life of mine 4,369 2,232 2,989 1,203 1,671 1,885 114
Wellgreen PEA Economic Model Output - First 24 Years of Production*
PEA Base Case Metal Prices - 20% **(Base Case Metal Prices = LME 3-year average price at July 6, 2012) Pre-tax NPV (8% discount rate) $973M
Pt $1,270.38/ozPd $465.02 /oz
Au $1,102.30/oz
Ni $7.58/lbCu $2.850/lbCo $12.98/lb
Pre-tax IRR (100% equity) 20%
Average annual pre-tax cash flow $205M
4 Johnson Matthey forecasts deficit in the platinum market to increases to 605koz. in 2013 from 340koz. in 2012, and palladium deficit to be 740koz
4 Autocatalyst demand is expected to rise due to increasing global environmental standards & strong auto demand from BRIC countries
Platinum Supply by Region 20135.74Moz
* Source: Johnson Matthey
Source: CPM Group Platinum Group Metals Yearbook 2013
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000Russian Pt Production
South African Pt Production
South Africa 37%Russia
42%
Zimbabwe 4%
North America
14%
Other2%
6
• Pt supply is ~1/20th that of gold and 1/100th of silver• South Africa & Russia and Zimbabwe account for 93% of
global Pt supply and 83% of Pd supply• 2014 strikes have caused ~500,000 oz. loss in production
as of mid-March • Avg. annual production costs quadrupled since 20001
• ~70% of Pt producers’ all-in costs exceed avg. Pt price
Source: CPM Group Platinum Group Metals Yearbook 2013
Platinum Primary Supply by Region 2013Total 5.74Moz
Palladium Primary Supply by Region 2013Total: 6.58Moz
Primary Supply - Source: CPM Group Precious Metals Advisory estimates
South Africa, 72%
Russia14%
Zimbabwe7%
North America
5% Other2%
PLATINUM & PALLADIUM SUPPLY FUNDAMENTALS
| Corporate Overview | PGM Fundamentals | PGM Peer Comparison | Wellgreen Overview | Shakespeare Project | Appendix
Platin
um (0
000 o
z.)
Platinum production from South Africa & Russia has been declining since 2006
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Plat
inum
(000
oz)
Russian Pt Production
South African Pt Production
South Africa37%Russia
42%
Zimbabwe 4%
North America
14%
Other2%
9
• Pt supply is ~1/20th that of gold and 1/100th of silver
• South Africa, Russia and Zimbabwe account for 93% of global Pt supply and 83% of Pd supply
• Avg. annual production costs quadrupled since 20001
• ~70% of Pt producers’ all-in costs exceed avg. Pt price
Source: CPM Group Platinum Group Metals Yearbook 2012
Platinum Supply by Region 2013 - Total 5.74Moz
Palladium Supply by Region 2013 - Total 6.43Moz
Source: Johnson Matthey Platinum 2013 (http://bit.ly/15H8G41)
South Africa, 72%
Russia14%
Zimbabwe7%
North America
5% Other2%
PLATINUM & PALLADIUM SUPPLY FUNDAMENTALS
Corporate Overview | Proven Project Management | PGM Peer Comparison | 8 PGM Fundamentals 4 Supply Fundamentals | Wellgreen Overview | Shakespeare Overview | Summary | Appendix
Platinum production from South Africa and Russia has been declining since 2006
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Plat
inum
(000
oz)
Russian Pt Production
South African Pt Production
South Africa37%Russia
42%
Zimbabwe 4%
North America
14%
Other2%
9
• Pt supply is ~1/20th that of gold and 1/100th of silver
• South Africa, Russia and Zimbabwe account for 93% of global Pt supply and 83% of Pd supply
• Avg. annual production costs quadrupled since 20001
• ~70% of Pt producers’ all-in costs exceed avg. Pt price
Source: CPM Group Platinum Group Metals Yearbook 2012
Platinum Supply by Region 2013 - Total 5.74Moz
Palladium Supply by Region 2013 - Total 6.43Moz
Source: Johnson Matthey Platinum 2013 (http://bit.ly/15H8G41)
South Africa, 72%
Russia14%
Zimbabwe7%
North America
5% Other2%
PLATINUM & PALLADIUM SUPPLY FUNDAMENTALS
Corporate Overview | Proven Project Management | PGM Peer Comparison | 8 PGM Fundamentals 4 Supply Fundamentals | Wellgreen Overview | Shakespeare Overview | Summary | Appendix
Platinum production from South Africa and Russia has been declining since 2006
10
• Johnson Matthey forecasts deficit in the platinum market to increase to 605,000oz. in 2013 from 340,000oz. in 2012, and 2013 palladium deficit to be 740,000 oz.
• Autocatalyst demand is expected to rise due to increasing global environmental standards & strong auto demand from BRIC countries
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000Vehicle Sales in Brazil, Russia, India and China
Brazil
Russia
China
India
Platinum Demand 2013 - Total 8.4Moz
Autocatalyst, 72%
Electrical 11%Jewellery 4%
Investment 1%
Dental 5%Chemical 6%
Other 1%
Palladium Demand 2013 - Total 9.6Moz
Source: SIAM, China Automotive Information Network, AEB, ANAFAVEA, and CPM Group
Thousand Vehicles
Source: Johnson Matthey Platinum 2013 Interim Review
Autocatalyst, 37%
Jewellery 33%
Investment9%
Chemical 6%Other 5%
Medical & Biomedicals
3%
Petroleum 2%
Glass 3%Electrical 2%
PLATINUM & PALLADIUM DEMAND FUNDAMENTALS
Corporate Overview | Proven Project Management | PGM Peer Comparison | 8 PGM Fundamentals 4 Demand Fundamentals | Wellgreen Overview | Shakespeare Overview | Summary | Appendix
10
• Johnson Matthey forecasts deficit in the platinum market to increase to 605,000oz. in 2013 from 340,000oz. in 2012, and 2013 palladium deficit to be 740,000 oz.
• Autocatalyst demand is expected to rise due to increasing global environmental standards & strong auto demand from BRIC countries
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000Vehicle Sales in Brazil, Russia, India and China
Brazil
Russia
China
India
Platinum Demand 2013 - Total 8.4Moz
Autocatalyst, 72%
Electrical 11%Jewellery 4%
Investment 1%
Dental 5%Chemical 6%
Other 1%
Palladium Demand 2013 - Total 9.6Moz
Source: SIAM, China Automotive Information Network, AEB, ANAFAVEA, and CPM Group
Thousand Vehicles
Source: Johnson Matthey Platinum 2013 Interim Review
Autocatalyst, 37%
Jewellery 33%
Investment9%
Chemical 6%Other 5%
Medical & Biomedicals
3%
Petroleum 2%
Glass 3%Electrical 2%
PLATINUM & PALLADIUM DEMAND FUNDAMENTALS
Corporate Overview | Proven Project Management | PGM Peer Comparison | 8 PGM Fundamentals 4 Demand Fundamentals | Wellgreen Overview | Shakespeare Overview | Summary | Appendix
Platinum Demand 20137.3Moz
Palladium Demand 20139.0Moz
Source: CPM Group Precious Metals Advisory estimates
Platinum & Palladium Demand Fundamentals
Platinum & Palladium Supply Fundamentals
28
• Johnson Matthey estimates that the deficit in the platinum market increased to 605,000 oz. in 2013 from 340,000 oz. in 2012, and that the 2013 palladium deficit was 740,000 oz.
• Autocatalyst demand is expected to rise due to increasing global environmental standards & strong auto demand from BRIC countries
Platinum Demand 2013 - Total 8.4Moz
Autocatalyst, 72%
Electrical 11%Jewellery 4%
Investment 1%
Dental 5%Chemical 6%
Other 1%
Palladium Demand 2013 - Total 9.6Moz
Source: Johnson Matthey Platinum 2013 Interim Review
Autocatalyst, 37%
Jewellery 33%
Investment9%
Chemical 6%Other 5%
Medical & Biomedicals
3%
Petroleum 2%
Glass 3%Electrical 2%
PLATINUM & PALLADIUM DEMAND FUNDAMENTALS
Source: CPM Group
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14p
India China Russia Brazil
Vehicle Sales in Brazil, Russia, India, and ChinaAnnual, Projected Through 2014Thousand Vehicles Thousand Vehicles
35,000
30,000
25,000
20,000
15,000
10,000
5,000
| Corporate Overview l Executive Summary | Proven Project Management | PGM Company Valuations | Wellgreen Overview | Appendix | PGM Fundamentals
Appendix
Source: CPM Group
Vehicle Sales in Brazil, Russia, India and China
2014 PEA Update Targets
Staged production: higher grade, lowerCAPEX ($300-400M) start-up operation
Metallurgy: improved PGM recovery rates
Energy: LNG ~50% reduction in power costvs. diesel assumption
Rare PGMs: inclusion in economics
420-1090 West Georgia St.Vancouver, BCCanada, V6E 3V7
+1.604.569.3690info@wellgreenplatinum.comwww.wellgreenplatinum.com
Certain statements contained herein constitute “forward-looking statements.” Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “plans,” “intends,” anticipates,” “should,” “estimates,” “expects,” “believes,” “indicates,” “targeting,” “suggests,” “potential,” and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Investors are advised to review the Company’s Annual Information Form filed at www.sedar.com for a detailed discussion of investment risks. John Sagman, P.Eng, the Company’s Senior Vice President and Chief Operating Officer, is the Qualified Person who reviewed all of the technical information contained in this factsheet.Wellgreen has included certain non-GAAP measures, costs of Pt Eq per ounce in this Factsheet. The non-GAAP measures do not have any standardized meaning within Canadian GAAP and therefore may not be comparable to similar measures presented by other companies. The Company believes that these measures provide additional information which is useful in evaluating the Company. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with Canadian GAAP.
Share Information (Mar 28, 2014)
Issued & outstanding 83,085,631Options & SARs (avg. strike $0.99) 12,799,618Warrants (avg. strike $1.24) 15,687,271Fully Diluted 111,572,520Market Cap ~70 Million
= New Board and Chairman Fall 2013= No debt= Updated PEA & Resource expected Q2 2014
Major Shareholders
Large Private Investors 25%Institutions 21%Management / Insiders 8%
Production Ready4 Fully-permitted, open pit PGM-Ni-Cu mine4 “Brownfield” project with ore shipping potential to regional Xstrata or Vale facilities 4 Evaluation of prior OPEX (mining, transport and milling costs) in progress with target of 20- 25% reduction to render economic at target base metals prices 4 Assuming OPEX reduction and stabilized metals prices, minimal capital required for potential 2014 restart as direct shipping operation4 Accessing economics of construction of permitted mill facility
Significant Production Profile & Near Term Cash Flow Potential4 Average annual production of 25,000 oz PGMs+Au, 8M lbs Ni and 10M lbs Cu over the life of the mine plan4 Potential for significant near term cash flow generation
Reserve and Resource Support Life of Mine Plan4 Probable Mineral Reserve* 11.8 mt 0.87g/t PGM+Au, 0.33% Ni, 0.35% Cu4 More than 90% remaining in mine production plan4 Potential for underground reserves
*Mr. Terrence Hennessey, P.Geo, of Micon is the qualified person for the mineral re-source estimate. Mr. Eugene Puritch, P.Eng. of P&E Engineering is the qualified person for the mineral reserve estimate. Mr. Ian Ward, P.Eng. of Micon is the qualified person for the feasibility study by Micon dated January 2006. Production profile based on Addendum to the Feasibility Study by Micon dated February 2008. Additional Mineral Resource (3.87 mt Indicated mineral resource, 1.87 mt Inferred mineral resource) an-nounced August 2012. Updated Mineral Resource estimate for the Shakespeare De-posit Underground East Zone prepared by P&E Mining Consultants Inc. The Qualified Persons for this Mineral Resource estimate are: Richard Routledge, M.Sc. (Applied), P.Geo., Eugene Puritch, P.Eng, and Antoine Yassa, P. Geo.
Research Coverage
GMP Securities | Mackie Research Capital Corp.
Fully-permitted, Open pit
4 Metallurgical test work aimed at recovery optimization
4 Update Wellgreen PEA: Q2 2014
4 Transportation and logistics studies
4 Drill program targeting higher-grade lower CAPEX start-up, conversion
of Inferred to M&I resources & priority exploration targets with
potential for near surface discoveries
4 Initiate Prefeasibility-level studies and environmental
assessment process
4 Environmental baseline studies and First Nations Consultation
4 Feasibility Studies, Final Permitting and Construction
4 Update feasibility study on mill construction for
Shakespeare PGM-Ni-Cu Mine
Target Milestones Over the Next 24 Months
Greg Johnson, P. Geo. | President & Chief Executive Officer
• 25 years of experience in the development of large scale projects in Alaska, BC, Nevada and South America
• Involved in raising over $650 million in financing
• Former President and CEO at South American Silver & Co-founder of NovaGold
John Sagman, P. Eng., PMP | Senior VP & Chief Operating Officer
• Over 30 years experience in design, development, commissioning and management of both open pit and underground PGM, Au, Cu & Ni mining projects in the Yukon, BC and Sudbury, Ontario
• Former VP Technical Services with Capstone, Project Manager with Xstrata & Vale Ni-PGM projects
Jeffrey Mason, CA | Chief Financial Officer
• 25 years public company experience; exploration to operations for PGM, Au, Cu, Ni projects in Alaska, BC, China, & South Africa
• 15 years Principal and CFO, Hunter Dickinson Inc., including CFO, Corp. Sec. & Director for 15 public TSX/AMEX/NASDAQ companies
• Former CFO of TasekoMines Ltd; acquisition of dormant Gibraltar Cu-Mo mine in BC, advanced to 2nd largest operating open pit Cu mine in Canada
Key Management
Shakespeare PGM-Ni-Cu Mine