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Corporate Presentation Corporate Presentation Presentation Transcript

  • 1
  • Certain statements in this document constitute “forward looking statements” which may not be based on historical fact. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: actual results of exploration and development activities; the estimation or realization of mineral reserves and resources; the timing and the amount of future production; the costs and timing of the development of new deposits; future prices of precious and base metals; accidents; risks inherent in mineral exploration; risks associated with development, construction and mining operations; restrictions on foreign ownership; the Company’s history of operating losses and uncertainty of future profitability; uncertainty of access to additional capital; environmental liability claims and insurance; and dependence on joint venture partners. Mr. Gregory Smith, P.Geo, Vice President of Exploration for the Company, is the Qualified Person as defined by NI 43-101, and is responsible for the accuracy of the technical data and information.
  • 100% owned Advanced Stage Corcoesto Gold Project NW, Spain (NI 43-101 PEA completed, Updated Measured & Indicated Resource) 51% own Advanced Stage Enchi Gold Project Ghana, West Africa (Inferred Resource) STRONG MANAGEMENT TEAM Proven mine builders, with experience internationally and specifically within Spain UPDATED MEASURED AND INDICATED RESOURCE ESTIMATE EXCEEDS ONE MILLION OUNCES GOLD* Micon International completed open pit constrained resource (Spain) Approved Environmental Impact Statement (Milestone Permit) December 2012 Ministry of Environment approved The Corcoesto project for open pit mining INFERRED RESOURCE ESTIMATE EXCEEDS ONE MILLION OUNCES GOLD** Tetra Tech 2012, Ghana, West Africa (Joint Venture Edgewater 51%/Kinross 49%) $5 Million market capitalization ($3/oz Gold in the ground valuation) *See slide 9 for full details ** slide 16 for full details
  • 100% Ownership +15,000 ha along the Gold belt Conventional open-pit advanced stage gold project
  • FIRST WORLD, PRO-MINING JURISDICTION ADVANCED GOLD DEVELOPMENT PROJECT (Preliminary Economics Complete) PIT-CONSTRAINED GOLD RESOURCE (Significant Exploration Upside Potential) EXCELLENT LOCATION WITH ALL INFRASTRUCTURE IN PLACE FULL ENVIRONMENTAL IMPACT STATEMENT APPROVED (DEC. 2012) ALL LEVELS OF GOVERNMENT AND LOCAL COMMUNITIES SUPPORTIVE EXPLORATION UPSIDE
  • George Salamis, President & CEO, Director +20 years experience directing exploration, development, and mining operations of a number of gold, base metal and coal projects, Mr. Salamis has held senior management positions with Placer Dome and Cameco Corporation and has completed M & A transactions valued over $1B Dr. John Thomas, COO +38 years experience in the mining industry in several countries. His experience covers a wide range of activities including process development, feasibility studies, management of construction and operation of mines. Dr. Thomas is a professional engineer and has a B.Sc., M.Sc., and a PhD in metallurgical processing Mr. AJ Ali, Project Finance Advisor Mr. Ali has +20 years experience in the mining industry and has been involved with over $2B in M&A and project financings for mining projects. Previously Mr. Ali was the CFO and Director of Centenario Copper Corp before its acquisition by Quadra FNX Mining and CFO of EuroZinc Mining Corporation before it merged with Lundin Mining. Lluís Boixet Country Manager Over 25 years in exploration and development of gold and base metal projects in the Iberian Peninsula Greg Smith, P.Geo, Vice President Exploration +23 years exploration experience working for both junior & senior mining operations and has been involved in outlining +10Moz gold discovery Edward Farrauto, CFO +20 years experience as CFO and Director of public companies, has been involved in raising over $500 million of equity and debt and completed M & A transactions valued over $750 million Doug Forster, M.Sc. P.Geo, Director +30 years resource project development, M&A, equity finance and public company management, Mr. Forster is President & CEO of Featherstone Capital, he has been Founder and director of several public companies Francisco Arechaga Director of Corporate Affairs Mining Engineering with over 30 years in the Galician Mining Industry. Previously Mr. Arechaga held the position of Chief Director of the Mina de Puentes, the largest open pit mine in Galicia
  • Ownership Share Structure Issued & Outstanding Kinross Gold Corp 5% 88,794,437 Warrants Mgmt & Insiders 13% Retail 45% 2,500,000 @0.50 (2015)(Kinross)* 2,500,000 @1.00 (2015)(Kinross)* 5,666,720 666, 720 @ 0.47 (2015) Options Institutional 37% Fully Diluted* 7,860,000 102,321,157 Cash $1,000,000 Nov 2013 Market Capitalization 5.4 Million M+I+I Resources $4/oz *If Edgewater delineates a NI43-101 compliant resource of 3Moz of gold in the M&I category on the Enchi Gold Project, then Kinross can exercise an additional 2.5M warrants at $0.50 and 2.5M warrants at $1.00 (included in the fully diluted number above).
  • • An autonomous region, all mine permits granted locally at the municipal and state levels (no federal approvals required), supportive from all levels of government • Excellent logistics with roads, power and water amenable to low cost development • PEA demonstrates robust economics with an average of 100k/oz a year gold project with expansion potential* 2013 Transformational Year Upcoming Milestones • Updated NI 43-101 Resource Completed – Q3, 2013 Corcoesto Plant site Drawing *see slide 10 for details
  • Open-pit constrained 1.2 Million Ounce Gold Resource with significant potential at depth and on strike NI 43-101 Pit Constrained Resource Summary (0.5 & 0.8 g/t Gold Cut-off) Cutoff (g/t Au) Tonnes (x1000) Gold g/t Contained Gold (x1000 oz) Measured 0.5 14,910 1.34 644 Indicated 0.5 9,298 1.28 383 Measured + Indicated 0.5 24,208 1.32 1,027 Inferred 0.5 5,321 1.21 207 Measured 0.8 10,170 1.67 546 Indicated 0.8 6,065 1.63 317 Measured + Indicated 0.8 16,235 1.65 863 Inferred 0.8 3,733 1.44 173 Resource Class 1. Mineral resources were classified following the guidelines of the JORC Code (2012) an accepted reporting code in terms of Canadian National Instrument 43-101. 2. Mineral resources are constrained within a Whittle pit shell based on a gold price of US$1,400/oz. 3. Numbers may not compute due to rounding. 4. All grades have been quoted in grams per tonne (g/t) for the resource inventory. 5. Density values were assigned in relation to an oxide surface; no further distinction between fresh and oxide material has been made within this resource estimate. 6. There are no known legal, political, environmental or other risks that could materially affect the potential development of these mineral resources
  • (Nov 2011) Years 1-10 6,000 tpd (Base Case $US1300/oz) Average annual production (Au oz) 102,000 Average annual net revenue ($US M) 60.0 Metallurgical recovery (%) 89.1 Strip Ratio 8.0/1 Average annual net cost ($US/oz) 713 Capital cost ($US M) (17.5% Contingency) 160 Pre-Tax Financial Model $1300/oz $1500/oz $1700/oz Payback (years) 3.4 2.5 2.0 IRR (%) 24 34 41 NPV (5%) (Million) 206 340 446 Average annual net revenue ($US M) 60.0 80.3 96 Preliminary Economic Assessment NI43-101 Compliant includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized *Slide 09 includes the updated NI 43-101 resource estimate, the PEA economic details use the older (2011 resource estimate for these PEA calculations)
  • • • • • • • • • Capital cost ongoing, work confirms low capex to date Operating costs inline with 2011 Preliminary Economic Assessment Metallurgy optimization underway Site layout complete Mine contractor rates confirmed Geotechnical/reclamation work complete Flow sheet confirmed and design nearing completion Permitting well advanced with EIA completed (Dec 2012) 100 ton TRUCK SAG MILL ORE FEED 6000 tpd FEED 180 m3 BIN MAGNET FEEDER O/F CRUSHED ORE STOCKPILE Diam.44.0m Water JAW CRUSHER O/S +5m mm FEED BELT CONVEYOR ORE FEED STOCKPILE OPTIONAL INDERECT FEEDING P80 150m FEED BELTm PROCESS WATER LOOP RETURN WATER TO PROCESS VIBRATING SCREEN TAILINGS THICKENER TRASH U/F U/S -5mm CENTRIFUGAL CONCENTRATOR TAIL S SUMP CYCLONE FEED PUMP O/F RECLAIM WATER POND O/S TRASH SCREEN U/S OVERSIZE CONVEYOR CONVEYOR HYDRO CYCLONE CON C. FLOTATION TAILINGS U/F FLOTATION CELLS FLOTATION TAILINGS DAM W 2 BALL MILLS FLOTATION CONCENTRATE CONCENTRATE THICKENER SMELTING FURNACE CONCENTR ATE REGRINDING MILL (ISA) 8 CIL AGITATED TANKS REGENERATED CARBON GOLD DORE GOLD ELECTROWINNING PREGNANT CARBON CARBON ELUTION CARBON REGENERATION CYANIDE DESTRUCTION LEACH RESIDUE TAILINGS DAM Design by : JAT Date28/01//2013
  • WASTE ROCK/TAILINGS
  • Potential Resource below pits
  • Pozo Del Ingles Gold Zone Grade thickness long section Corcoesto Gold Project – Plan Map Open at Depth Potential extensions to structures on strike Peton de Lobo Gold Zone Grade thickness long section Current Open pit shell Cova Crea Zone Open at Depth Open at Depth
  • • 51/49 Joint Venture with Kinross Gold (TSX: K) • Mid-stage exploration comprised of 8 licenses totaling 568km2 • Located above the highly prolific Bibiani Shear Zone which is host to two >5 million ounce deposits • Chirano Gold Mine ~40km NW covers 9km of the Bibiani Shear Zone • Enchi covers 50km over the Bibiani Shear Zone • Airborne geophysical survey identified +25 new targets • Completed NI 43-101 Gold Resource +1M ounces* • All zones open at depth and along strike *see slide 16 for details
  • NI 43-101 Mineral Resource Summary Cutoff (g/t Au) Tonnes Gold g/t Contained Gold 0.30 71,241,000 0.65 1,489,295 0.40 51,633,000 0.76 1,269,739* 0.50 37,278,000 0.89 1,063,868 0.60 27,538,000 1.01 892,682 0.70 20,627,000 1.13 749,081 0.80 15,887,000 1.24 635,200 0.90 12,644,000 1.35 546,878 *West African average cut-off is 0.4g/t which represents +1.2M ounces Gold 1. 2. 3. 4. 5. 6. CIM definition standards were followed for the resource estimate. The 2012 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids. A base cutoff grade of 0.7 g/t Au was used for reporting resources with a capping of gold grades at 18 g/t. A density of 2.45 g/cm3 was applied. Numbers may not add exactly due to rounding. Mineral Resources that are not mineral reserves do not have economic viability 16
  • • Environmental Impact Permits – Approved • Updated Measured and Indicated Resource grew +200% completed with significant upside potential • Management team has extensive M&A, mine building, operational and in country open-pit expertise • Low capital, simple and short timeline • Committed to maximizing social economic benefits to the region
  • Contact Ryan King, Vice-President 604 628 1012 rking@edgewaterx.com www.edgewaterx.com 18