Corporate Presentation Q4 2013
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Corporate Presentation Q4 2013 Presentation Transcript

  • 1. Mogul Ventures Corp. OORTSOG OVOO TIN PROJECT Q4, 2013
  • 2. THE FOLLOWING INFORMATION may contain forward–looking statements. Forward looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Mogul Venture Corp’s actual results, level of activity, performance or achievements to be materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the historical resource estimates, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic condition or financial markets, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining, or advancing projects; and labour relation matters *All historical resource estimates quoted herein date from the 1960s and 1970s and are based on prior data and reports obtained and prepared by previous operators and information provided by the State, using a Russian classification system not compatible with 43-101. Insufficient data exists to compare Russian categories to current C.I.M. categories. A qualified person has not completed sufficient work to verify the classification of the historic mineral resources and as such they should not be considered as current resources and they should not be relied upon. Mogul Ventures believes these historical results provide an indication of the potential of the property and are relevant to ongoing exploration. It should also be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability as defined by NI 43-101 guidelines. 2 www.mogulvc.com
  • 3. COMPANY OVERVIEW • Mogul Ventures Corp. focuses on exploration, development and production of metals and coal in Mongolia • Two flagship projects: Oortsog Ovoo polymetallic project & Ovdog Hudag-Ikh Ulaan Nuur coal project • NI 43-101 compliant Inferred Resources of 89.6 million tons of coal established at Ovdog Hudag Thermal Coal Deposit based on 14-drill hole, 2,369 meters drilling program* The Tin+polymetallic metals project has a historic resource of 39,000 t of contained tin and a significant upside potential.The deposit also appears amenable to open pit mining • • 3 The company leverages world-class management, technical expertise and in-depth local knowledge to acquire, explore and develop mineral projects in Mongolia Capital Structure Shares Outstanding Warrants Outstanding Fully Diluted *Ovdog Hudag Coal Deposit, Mogul Ventures Corp. – NI 43-101 Report by SRK Consulting (China) Ltd., June 30, 2012 (01.01.2013) 112,499,907 554,195 113,054,102 www.mogulvc.com
  • 4. MOGUL VENTURES TEAM STEVEN KHAN, MBA, CFA Executive Chairman & Director JAMUL JADAMBA , MBA CEO, President & Director • Previous 20 years of experience in all aspects of the investment industry including executive positions with regional and national full-service Canadian investment brokerage houses • Formerly a natural resource and mining-focused investment banker with an extensive capital raising background, servicing worldwide companies, especially in Mongolia • Focused on strategic corporate and business development as well as resource and venture capital financing during the last decade • Former Director and co-founder of the Metals & Mining Group at Rodman & Renshaw LLC. • Native Mongolian with well-established relationships with influential business and government leaders in Mongolia • Extensively writes and speaks on topics of Mongolian economy, development and politics for organizations such as Oxford Analytica, Institutional Investor and Business New Europe • • 4 Holds Director and Executive Officer roles in a number of public and private resource companies Successfully completed major corporate development initiatives both domestically and internationally including in Japan, Korea and China www.mogulvc.com
  • 5. MOGUL VENTURES TEAM MICHAEL HAWKINS, MAusIMM MAZEN HADDAD Director Director • Over 30 years of exploration experience in Mongolia, PNG, Indonesia, Australia, North America and Latin America. • Formerly CEO and President of East Asia Minerals Corporation. During his tenure at East Asia, Michael and his team discovered multimillion ounce gold deposits in Indonesia as well as closed an unprecedented Mongolian uranium transaction • 5 Michael has a proven track record for discovery of high-grade deposits and has been directly involved in the greenfield exploration, discovery and development (pre-feasibility and feasibility studies) of several million ounces of gold in the Asia-Pacific region. A seasoned investor and financial professional, Mazen is currently a Director of Argex Titanium Inc, a publicly listed exploration company that is entering into the development stage for its flagship project. • Formerly President of Township Capital Inc. from 2005 until 2010. • Previous to that, he was Chairman of SGI Properties Canada Fund L.P., a private real estate investment trust (REIT) focused on residential real estate in Montréal as well as Vice-President of SGI Capital Corp., a private investment company. • Mazen received a B.A. degree in economics from Emory University of Atlanta, Georgia. Previous to that, he was the Mongolia Manager for AngloGold Ashanti. • • www.mogulvc.com
  • 6. MOGUL VENTURES TEAM DAVID A.TERRY, Ph.D., P.Geo. Senior Technical Advisor • • Director of and advisor to several publicly-listed mineral exploration companies • Specializes in public company management, strategic planning, finance, advanced project evaluation, identification and acquisition of opportunities, design and implementation of effective and cost-efficient exploration programs • 6 Over 20 years of business experience in the natural resource sector, focused primarily on exploration of precious and base metal deposits in North and South America. Held positions with a number of senior mining companies including Boliden Limited, Westmin Resources Limited, Hemlo Gold Mines Inc., Cominco Limited and Gold Fields Mining Corporation www.mogulvc.com
  • 7. MONGOLIA OVERVIEW • • Strategic location • Next door to the biggest consumer of commodities in the world – China • Mining is the most important sector: • “Contributes 30% of GDP and 70% of exports”(1) • Favorable political environment: • Mongolian Government focused on the long-term development of resource-related sectors and favorable policies towards business and foreign investments • Stable business-friendly democracy: • 20+ year history of uninterrupted peaceful and democratic government • 7 Recognized as the home of some of the world’s largest natural resource deposits including coal, gold and copper Homogenous country with minimal risk of ethnic or religious conflict Source: (1) the Ministry of Mineral Resources & Energy of Mongolia www.mogulvc.com
  • 8. MONGOLIA: MINING INDUSTRY OVERVIEW Mongolia is poised to become one of the fastest growing economies in the world in the next two decades • • Market Cap of publicly traded companies with assets in Mongolia, including non-Mongolian junior mining companies: $30B+(3) • Investment Capacity of Mongolia’s mining industry (5 years): $25 - $30B(4) • 6,000 known mineral occurrences(5) • 8 Mining industry size: 30% of GDP(2) 80+mineral deposits found recognized as economic by the Mineral Resources Authority of Mongolia(6) Sources: (2) the Ministry of Mineral Resources & Energy of Mongolia (3) Bloomberg (4) How much capex the country can absorb given known development projects. Statement made by the former Prime Minister Bayar (5), (6) The World Bank report on “Mongolian Mining Sector: Managing the Future” (7) National Statistics Bureau www.mogulvc.com
  • 9. TIN MARKET OVERVIEW According to LME, Tin (Sn) is the only industrial metal with ongoing physical supply deficits for 2013 • • 9 As growth in electronics manufacturing shifted from the West to the East, Asia has emerged as the leading consumer of Tin Not surprisingly, China is both its biggest producer and consumer www.mogulvc.com
  • 10. TIN USAGE • Over 50% of Tin is used as a solder. Emergence of lead-free solders has boosted demand • Tinplate’s share (tin coated steel, such as in cans and containers) has come down significantly • There is an increasing trend of tin usage for various chemical and industrial applications such as: • Stabilizer for PVC plastics • Lithium-ion batteries • Cutting-edge technologies such as carbon nanotubes and graphene • Solar cells, acid batteries and electric car batteries • 10 Tin Usage Various chemical catalysts Source: ITRI www.mogulvc.com
  • 11. TIN PRODUCTION Top Ten Producers in 2012 Ranking Company Production, tonnes % change 1 Yunnan Tin (China) 69,760 24.20% 2 Malaysia Smelting Corporation 37,792 -6.10% 3 PT Timah (Indonesia) 29,600 -22.40% 4 Minsur (Peru) 25,399 -15.90% 5 Thaisarco (Thailand) 22,847 -4.30% 6 Yunnan Chengfeng (China) 16,600 7.60% 7 Guangxi China Tin (China) 14,034 -9.60% 8 Metallo Chimique (Belgium) 11,350 13.40% 9 EM Vinto (Bolivia) 10,800 -1.50% 7,000 -18.60% 10 Gejiu Zi-Li (China) • • • • • 11 Most of Tin production is from underground mines. Estimated cash costs for a typical underground mine with 1% grade is ~$20,000/t1 10% of world mine production comes from the San Rafael underground mine in Peru (owned by Minsur) which is slated to run out of ore within 4 years2. Small and artisanal mines, which account for ~100ktpa of global mine supply, are being closed as well Open pit production is in a small minority, but has advantage as estimated cash costs at 1% grade are under $10,000/t1 7 out of 10 top producers have experienced production volume declines in 20123 Indonesia, which supplies 40% of globally mined tin, has tightened regulations resulting in a 90% reduction in exports 4 Source: (1) Greenfields Research (2) Minsur (3, 4) ITRI www.mogulvc.com
  • 12. TIN SECONDARY SUPPLY Secondary Recycled Tin Production • • Not surprisingly, China again is the biggest recycler • 12 Including alloys, more than 30% of world tin consumption is from recycled tin Tin recycling is likely peaking or has peaked Source: ITRI www.mogulvc.com
  • 13. TIN MARKET Actual and Inflation-Adjusted Prices Historic and Forecasted Demand • • 13 In early 2011, Tin prices hit a high of over $32,000/t For new mine supplies to materialize, prices are likely to hold or stay above current levels of about $23,000/t Source: ITRI www.mogulvc.com
  • 14. LARGEST UNDEVELOPED TIN DEPOSITS 350,000 250,000 1.0 200,000 0.8 150,000 0.6 100,000 0.4 0.2 Open Pit 14 UG Tailings Dredge Source: SNL Metals Economics Group, Company websites, Mogul Ventures Corp. Placer www.mogulvc.com Jeannie River Blue Tier Oortsog Ovoo Narsiin Khundlen Oropesa Mount Pleasant Mount Garnet Tongkah Heemskirk Rentails Kokhshetau Mount Lindsay Achmmach Catavi Tailings Pravourmiiskoye Xitian 0 Grade (%) 1.2 50,000 Contained Sn (mt) 300,000
  • 15. PUBLIC COMPARABLES Company Kasbah Resources Consolidated Tin Mines Project Kasbah Gillian Pinnacles - Wafer Pinncales - Hartog Deadmans Gully Windermere Jeannie River Location Main Mineral Mogul Ventures Venture Minerals Heemskirk Oortsog Ovoo Mt. Lindsay Grade Tin Australia Tin Australia Mongolia Australia Tin Tin Tin/Tungsten 135,000 t1 23,409 5,540 1,085 1,967 11,566 13,440 0.90% 0.78% 0.41% 0.51% 0.49% 0.55% 0.60% 57,007 Morocco TOTAL 2 Stellar Resources Resources Mkt Cap Proposed Economic (10/23/13) Mining Method Interest 0.64% 48,000 t 3 39,200 t 4 38,000 t 6 $61M 100% $14M 1.10% UG Open Pit 100% $12M UG 100% 0.65% 5 N/A Open Pit 100% 0.30% 6 $56M Open Pit 100% 1 JORC compliant resources: Inferred 93,000 t, Indicated 42,000 t 2 JORC compliant resource, included Indicated and Inferred 3 JORC compliant resource, included Indicated and Inferred 4 Historic resource based on 41 drill holes and 207 trenches. Does not include credits for other metals present such as Cu, Pb, Zn, Ag, Au, Bi, Ca and Fe 5 Grade doesn't account for other metals credit 6 JORC compliant resource, only credits Sn, Sn-equivalent resource would be 103,000 at average grade of 0.70% • • 15 Mogul’s Oortsog Ovoo is one of the top tin exploration projects in the world Oortsog Ovoo has one of the best grades among known potential open pit mines, further improved by likely credits for accompanying metals Source: Company websites www.mogulvc.com
  • 16. OORTSOG OVOO DEPOSIT • Cassiterite (Sn) skarn system with Zn-Pb-CuFe-W-Ag-In • Twenty four ore bodies have been identified and studied to varying extents • Historic exploration focused on Sn provided following results: • • ~6.7 Mt @ an average grade of 0.65% Sn, with no credits for other metals present • The deposit was proposed to be mined via 5 open pits to a maximum depth of 150m, with average stripping ratio of 4:1 • 16 Historic Resources totalling 39,237 t Sn Metal reported*, making Oortsog Ovoo an overall top 20 deposit in the world1 Low Sulphide Sn-dominant (0.25 to 1.13% Sn) and High Sulphide Zn-Pb-Cu-Fe-Ag-In zones delineated The historical drilling had very low core recovery rates (60%-65%) due to the low quality of Soviet drills. With the use of modern drilling equipment, Mogul has accomplished a higher core recovery rate which may result in higher detected metal grades when assayed *Historical resources - see note on Page 2 of Presentation (1) Based on resource size ranking by ITRI
  • 17. OORTSOG OVOO DEPOSIT • • 41 holes were drilled on the three zones depicted • A significant trenching program of 207 trenches was also conducted • Rock chip samples taken by Mogul also had high grades of copper ranging as high as 1.5%, 3% and over 6% • A total of eight mineralized zones have been identified, three of which have had a significant amount of exploration work • 17 A significant historical body of exploration work exists on Oortsog Ovoo There is excellent potential for expanding resources through exploring the zones that have not been explored yet as well as areas in between zones
  • 18. GROUND MAGNETICS PROGRAM North Zone 0.5km Magnetic Intrusive? Middle Zone • Central Zone Eastern Zone 1km 1km • 18 • The Vertical Gradient image above shows a strong linear dipole anomaly is associated with the three main segments which comprise the Northern Zone, which has been delineated to date by trenching and drilling over 1.2km of strike length. South-Eastern Zone The Company contracted a detailed ground magnetic survey in June, 2013 covering a 3.5km by 4km area. The RTP results (above) shows a significant number of magnetic anomalies were detected; many anomalies correlate with known zones while some require follow-up.
  • 19. 2013 CONFIRMATION PROGRAM • • • • • 19 Mogul conducted a 1,500 meter confirmation drill program in October of 2013 The program focused only on the Eastern zone and a segment of the Northern zone of the system. These areas had the most detailed historical exploration with the resulting potential for rapid resource confirmation/delineation and near-term development The program’s main objectives were: • Parallel drill (twin) select historic holes to confirm and correlate accuracy of historic work • Drill vertical and horizontal step out holes to delineate mineralized zones in detail • Conduct modern assays based on a +90% core recovery rates, which were achieved. This may result in an upside in tin grades as compared to the historically reported resource average of 0.65% Sn • Improve the overall geological understanding of the deposits Subsequent to this program, we believe that either the Northern or Eastern zone can be targeted for rapid exploration and development Results of this program are still pending and will be reported once received and interpreted Photo: Drill rigs at the Eastern Zone of Oortsog Ovoo, magnetite core from drilling
  • 20. GOALS AND OBJECTIVES • • • • • • 20 Ongoing exploration program is confirming and significantly improving on the historical body of knowledge about Oortsog Ovoo The project has a significant potential for resource expansion as historic work was performed only on outcropping zones and only shallow drilling and trenching were performed At a total strike length of 5km for visible mineralized zones and magnetic anomalies identified through the geophysical program, the project has strong potential for discovery of resources well in excess of historic resource estimates The next stage of exploration at the Oortsog Ovoo polymetallic project will include: • Ground and airborne geophysical surveys • Additional detailed surface sampling and mapping • 10,000 m drill program • Resource modelling and engineering work • Bulk sampling and metallurgical testing • Develop a PFS or BFS based on the most advanced mineralized zones Expand exploration with the aim of making Oortsog Ovoo a 100 kt+ tin deposit with additional credits for other metals Move the historically well explored Northern and Eastern zones in to development and production within 12 to 18 months Photo: Mogul staff and geologists at Oortsog Ovoo skarn, 2012 www.mogulvc.com
  • 21. Contact Information +1 416.915.4202 | information@mogulvc.com Suite 5700 – 100 Kings St. West Toronto, Ontario M5X 1C7, Canada