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Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
Peru tsx tsxv mining overview (2)
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Peru tsx tsxv mining overview (2)

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  • What often surprises people is that for a country of only 33 million people, we punch well above our weight in terms of financing As the 7 th largest exchange group in the world, we are leaders in providing access to capital With nearly 4000 companies listed on our exchanges, we have more listed issuers than any other exchange in North America and are 2 nd in the world Our markets provide investors a vast array of opportunity and choice TSXV: ground floor growth opportunity Active public venture capital market Grow and graduate TSX: Large companies with history of production, operations, profitability or advanced stage exploration/development Diversified range of issuers size and sectors
  • A snapshot of our two exchanges We are now seeing other major markets replicating our senior and junior market system as they recognize the benefit of offering a complete market system that grows with the company.
  • We are experts at servicing small to mid size companies To give you a sense of the size of our companies An average size venture company is $16 M but the median size is $4 M An average size TSX company is $1 B but the median size is $100 M The distribution of our companies demonstrates the success of our market model to help small companies grow to large cap companies. Our markets move seamlessly together
  • These graphs demonstrate the breadth of the markets operated by TSX Group in terms of market capitalization and diversity of sectors covered. The mining and energy sectors continue to represent the significant share of our listings activities on both exchanges – we continue to have a strong market across other sectors such as diversified industrials, financials, and technology.
  • These graphs demonstrate the breadth of the markets operated by TSX Group in terms of market capitalization and diversity of sectors covered. The mining and energy sectors continue to represent the significant share of our listings activities on both exchanges – we continue to have a strong market across other sectors such as diversified industrials, financials, and technology.
  • WE have had a record year for financing with both exchanges combined. This breaks the previous TSX/TSXV record of $58.8 B set in 2007. Toronto Stock Exchange with $60.0 B – up 70% from last year.
  • 50% of the 9700 mineral exploration projects held by TSX and TSXV companies are outside
  • On average TMX has raised 35% of total equity capital since 1999.
  • On average TMX has raised 35% of total equity capital since 1999.
  • TMX - Leading Global Mining Exchange for Listing and Trading - Globally diversified mining exchange across project size, stage, location and commodity - Industry leader in financing and listing exploration and developments companies - Particular focus on precious metals and projects located in the Americas ASX - Diversified mining exchange spanning most commodities and all size companies - Leadership in financing Australian/ Asian based assets - Ability to finance early stage junior exploration companies - Particular focus on iron ore and coal LSE and AIM - Home to the world’s largest global resource companies - Particular focus in African gold and Central Asia mining companies - The junior market, AIM, continues to lag other play a diminishing role in the sector NYSE - Diversified International Mining Stocks - A unique focus on ADR’s and U.S. based companies NYSE AMEX - Focused on small cap U.S. companies and Canadian dual listed companies HKSE - Predominantly, focused on iron ore, coal producers based in Asia - A market only for mid cap and large cap producers only JSE - African focused mining exchange - Ability to finance early stage junior exploration companies
  • 50% of the 9700 mineral exploration projects held by TSX and TSXV companies are outside
  • Shift in new management and international teams to TSX
  • Perseus Mining Limited approved and trading this week after a good raise pre listing with CDN brokers Hit one a few good examples
  • South America has been a big story on TSX this year and second most financed region after Canada Raising $3.0B in 125 financings. Aura Minerals, Carpathian Gold, Colossus Minerals, Jaguar Mining, Mirabela Nickel, Yamana Gold are examples of companies that raised capital on TSX in 2009 for brazil projects. TOP EXCHANGES TSX/TSXV – 256 companies in S. America ASX – 56 companies in S. America NYSE-Amex – 43 LSE-AIM – 36 Lima - 23
  • Clean Technology – Low Impace Materials & Products – Grad from CPC Program with frequent Financings completed on TSX Venture. Price From IPO CPC Price of 0.26 in Sept06 to Price on Grad of $2.06 in January 2010.
  • Listing process continues to improve for dual listed companies – Redomiclem, RTO, Long Form Prospectus Offering and compliance dual listing (CD listing) as a designated foreign issuer (DFI) and financing post listing is the most common and recommended approach DFI or CD listing – straight forward listing process from TSX’s perspective – technical reports, application, PIFs, sponsorship in some cases Most advisors are now comfortable with CD listing - cost effective and efficient and improved financing options ASX companies building relationships with funds, Canadian brokers and analysts at an earlier stage Successful dual listed companies have steadily built profile on TSX by accessing capital, an effective IR program and adding the right mix of North American based executives/directors as the story unfolds. ASX companies taking advantage of the bought deal financing common in Canada Joint lead concurrent financings in both markets – 2009 examples Equinox, Extract, Mirabela, Perseus Dual listed miners experiencing improved trading spread between the two markets Increased movement of securities between the Australian and Canadian Registers TSX to further streamline listing process – improve on approval period time and listing documents Dual listing guide prepared by TSX to better understand listing process
  • Hit a few key points – Continued access to capital – steady growth of capital investment over past 5 years Strong secondary financing market Canadian regulatory commissions and exchanges: Customer-focused Principles rather than rules based Employ a flexible corporate governance approach MultiJurisdictional Disclosure System between Canada and US markets
  • One of the most popular ways to go public on TSXV So far this year we have had 45 new CPCs created – making 248 CPC shells available for QTs on TSXV. We have seen 64 companies using the CPC program to go public via QT.
  • Transcript

    • 1. Janis Koyanagi Vice President, Business Development & Strategy Toronto Stock Exchange & TSX Venture Exchange Toronto Stock Exchange and TSX Venture Exchange: Access to Capital for Peruvian Mining Companies
    • 2. Disclaimer This document is for information purposes only and is not an invitation to purchase securities listed on Toronto Stock Exchange and/or TSX Venture Exchange or Natural Gas Exchange. TMX Group Inc. and its affiliates do not endorse or recommend any securities referenced in this document. Please seek professional advice to evaluate specific securities. While the information herein is collected and compiled with care, neither TMX Group Inc. nor any of its affiliated companies represents, warrants or guarantees the accuracy or the completeness of the information. You agree not to rely on the information contained herein for any trading, business or financial purpose. This information is provided with the express condition, to which by making use thereof you expressly consent, that no liability shall be incurred by TMX Group Inc. and/or any of its affiliates as a result of any errors or inaccuracies herein or any use or reliance upon this information. © 2010 TMX Group Inc.
    • 3. <ul><li>Globally Competitive Exchanges </li></ul><ul><li>Mining Sector </li></ul><ul><li>TSX and TSXV Presence in South America </li></ul><ul><li>Listing on TSX and TSXV </li></ul>Outline
    • 4. Strong Fundamentals in Canada <ul><li>Resource Rich </li></ul><ul><li>Largest oil reserves in the world after </li></ul><ul><li>Saudi Arabia </li></ul><ul><li>World’s largest producer of zinc and </li></ul><ul><li>uranium and major producer of gold, </li></ul><ul><li>nickel, aluminum and lead </li></ul><ul><li>Important global supplier of wheat, </li></ul><ul><li>canola and other grains </li></ul><ul><li>Extensive timber resources </li></ul><ul><li>Strong </li></ul><ul><li>Canada’s financial system has been </li></ul><ul><li>ranked as the soundest in the world for two years in a row by the World </li></ul><ul><li>Economic Forum </li></ul><ul><li>Lowest debt-to-GDP among G7 </li></ul><ul><li>Relatively strong financial position: </li></ul><ul><li>12 years of surpluses 1998-2009 </li></ul>
    • 5. TMX Group is a Multi-Asset Class Market Leader (53% Ownership) (47% Ownership) (19.9% Ownership) Data Energy Derivatives Fixed Income Equities
    • 6. TMX Group - Global Leader in Equities 7 th largest exchange group By domestic market cap 1 1 st in North America 2 nd globally By number of issuers 1 6 th largest exchange group By equity capital raised 2 1 Issuers on TSX and TSXV (WFE, June 2010) 2 (WFE and Capital IQ, Dec 2009)
    • 7. Unique Equity Market Structure 2,177 companies 20 graduates in First Half 2010 20 graduates in 2009 45 graduates in 2008 1,488 companies <ul><li>TSX Venture Exchange </li></ul><ul><li>Access to capital for earlier stage companies or smaller financings </li></ul><ul><li>Total market cap of $38 Billion & average market cap of $17.4MM </li></ul><ul><li>Cost effective stepping stone for international companies looking to list on a quality North American market </li></ul><ul><li>Exchange mandate to mentor management of newly public companies </li></ul><ul><li>Streamlined graduation to TSX when senior market requirements are met </li></ul><ul><li>103 year history </li></ul><ul><li>Toronto Stock Exchange </li></ul><ul><li>Senior market for well established businesses and management teams with experience in public markets </li></ul><ul><li>Total market cap of $1.8 Trillion & average market cap of $1.2B </li></ul><ul><li>30% of TSX issuers >$500M are interlisted on a US exchange </li></ul><ul><li>Access to larger, more international institutional investors and greater analyst coverage </li></ul><ul><li>Globally visible specialized indices </li></ul><ul><li>157 year history </li></ul>
    • 8. TMX Group Serves Companies at all Stages of Growth Market Capitalization Toronto Stock Exchange and TSX Venture Exchange Unique feeder system 471 graduates + 85 M&A* *From January 1, 2000 – June 30, 2010 Toronto Stock Exchange issuer base: 1,488 issuers, ~$1.8 trillion market cap TSX Venture Exchange issuer base (excludes NEX): 2,177 issuers, ~$37.7 billion market cap As at June 30, 2010 514 Issuers 498 Issuers 476 Issuers 2016 Issuers 142 19 Issuers
    • 9. Market Comparison: TMX Group and BVL Market Data for 2009 (C$) As at December 31, 2009 Source: TSX/TSXV Market Intelligence Group, WFE, Capital IQ <ul><li>Top 3 Sectors on TSXV: </li></ul><ul><li>Mining </li></ul><ul><li>Energy </li></ul><ul><li>Diversified Industrials </li></ul><ul><li>Top 3 Sectors by Market Cap on TSX: </li></ul><ul><li>Financials </li></ul><ul><li>Energy </li></ul><ul><li>Mining </li></ul><ul><li>Top 3 Sectors on BVL: </li></ul><ul><li>Diversifieds </li></ul><ul><li>Financials </li></ul><ul><li>Materials </li></ul>
    • 10. TSX Provides a Highly Diversified Market by Sector TSX Issuers by Sector By Number of Companies As at June 30 2010 2010 YTD June Listed Companies 1,488 Total Market Cap $1.8 T Median Market Cap $110 M Average Market Cap $1.2 B Financings $21.9 B Average Financing $54.3 M New Listings 94
    • 11. TSXV has a Large Number of Resource Companies TSXV Issuers by Sector By Number of Companies As at June 30 2010 2010 YTD June Listed Companies 2,177 Total Market Cap $37.7B Median Market Cap $4.6 M Average Market Cap $17.3 M Financings $3.7 B Average Financing $3.2 M New Listings 155
    • 12. TMX Group Global Leadership Strengths All data is as of or YTD June 30, 2010 1466 issuers 55% of the world’s public mining companies 90 going public events $7.8 B equity raised $197 B value traded 129 issuers Number one in the world by number of public clean technology companies 6 going public events $0.606 B equity raised $5.7 B value traded 3665 issuers 249 going public events $25.5 B equity raised Average Financing: TSX $54.3 M TSXV $3.2 M 463 issuers Over 35% of the world’s public oil and gas companies 28 going public events $5.97 B equity raised $141 B value traded Mining Energy & Energy Services Clean Technology
    • 13. Access to Capital: 2009 was an all time record year for financing on TSX *TSX Venture Exchange commenced operations on November 29 1999 Toronto Stock Exchange and TSX Venture Exchange Total Financings (C$Billions) 1999 – 2010 June
    • 14. International Investment Community Trades on Toronto Stock Exchange <ul><li>25 International Brokers including: </li></ul><ul><li>Barclays Capital </li></ul><ul><li>Citigroup </li></ul><ul><li>CSFB </li></ul><ul><li>Deutsche Bank </li></ul><ul><li>Goldman Sachs </li></ul><ul><li>HSBC </li></ul><ul><li>JP Morgan </li></ul><ul><li>Macquarie Capital Markets </li></ul><ul><li>Merrill Lynch </li></ul><ul><li>Morgan Stanley </li></ul><ul><li>Raymond James </li></ul><ul><li>Thomas Weisel </li></ul><ul><li>State Street </li></ul><ul><li>UBS </li></ul><ul><li>80 Canadian Brokers including: </li></ul><ul><li>BMO Nesbitt Burns </li></ul><ul><li>Canaccord Adams </li></ul><ul><li>CIBC World Markets </li></ul><ul><li>GMP Securities </li></ul><ul><li>RBC DS </li></ul><ul><li>Scotia Capital Markets </li></ul><ul><li>TD Securities </li></ul><ul><li>National Bank Financial </li></ul>~35% of daily trading originates from International brokers Volume CAGR 14% Transactions CAGR 37% Toronto Stock Exchange Volume and Transactions (2004-2009)
    • 15. A Diverse Pool of International Companies are Listed on TMX Group’s Equity Exchanges Total International Listings as at June 30, 2010 = 295 TSX = 162 listings, QMV=$95.9 B TSXV =133 listings, QMV= $3.5 B TMX Group International Listings by Country/Region TMX Group International Listings by Sector
    • 16. Canadian Equity Markets… Global Leaders 7 th in Market Capitalization 6 th in Equity Financing
    • 17. <ul><li>Globally Competitive Exchanges </li></ul><ul><li>Mining Sector </li></ul><ul><li>TSX and TSXV Presence in South America </li></ul><ul><li>Listing on TSX and TSXV </li></ul>Outline
    • 18. Key Global Mining Trends on Our Markets UK/Europe: Increase in Dual Listings USA: Increase in Trading Flow <ul><li>Latin America: </li></ul><ul><li>Record year for capital raised </li></ul><ul><li>for projects </li></ul><ul><li>Increase in New Listings </li></ul>Australia: Increase in Dual Listings and equity raised Asia: Increase in New Players Increase in New Listings Increase in Gold Financings Increase in New Commodities Increase in New Players/M&A Africa: Increase in Equity Raised for African Projects
    • 19. TSX and TSXV have consistently captured over a third of the equity capital raised globally for mining Source: Gamah International, 1999-2009, compiled by Toronto Stock Exchange Global Mining Equity Financing Trend 1999-2009 (C$ Billions) <ul><li>During this period TSX and TSXV captured on average: </li></ul><ul><li>36% of total equity capital raised globally </li></ul><ul><li>27% compound annual growth rate </li></ul><ul><li>Increase in mega financings since 2006 </li></ul>
    • 20. TSX and TSXV have supported the global exploration and development sector over the past 10 years Source: Gamah International, 1999-2009, compiled by Toronto Stock Exchange Global Mining Equity Financing Trend 1999-2009 (Number of Financings)
    • 21. TSX and TSXV have the most mining companies in the world As at June 30, 2010 Source: Exchange Websites, Capital IQ *Includes RTOs and QTs on TSXV Total Number of Mining Issuers
    • 22. TMX leads in mining financing and new listing Source: Gamah International Mining Equity Financings 2005 to First Half 2010 ($Billions) New Mining Listings 2005 to First Half 2010 TSX/TSXV LSE/AIM ASX NYSE Amex NYSE HKEx JSE Q1+Q2 2010 $7.8 $2.1 $0.405 0 $0.004 $2.3 $0.528 2009 $22.2 $22.3 $13.5 0 $4.5 $3.0 $0.007 2008 $8.3 $5.0 $3.1 0 $5.4 $1.3 $0.040 2007 $20.5 $9.3 $8.3 $0.095 $2.6 $0.909 $1.5 2006 $12.5 $10.8 $2.2 0 $0.571 $2.7 $0.047 TSX/TSXV LSE/AIM ASX NYSE Amex NYSE HKEx JSE Q1+Q2 2010 90 9 20 2 3 2 2 2009 104 4 22 1 1 1 0 2008 138 29 9 5 3 3 2 2007 186 142 33 13 3 n/a 4 2006 112 70 55 14 6 n/a 10
    • 23. Mining Financing Update – First Half 2010 Source: Gamah International, YTD June 30 2010, Compiled by TMX Group 1 64 926 27 142 $6.0 $2.3 Number of Financings $1.8 1 First Half 2010 Mining Equity Financings ($ Billions) 6 <ul><li>First Half 2010: </li></ul><ul><li>$13 Billion total equity capital raised globally </li></ul><ul><li>1100+ financings </li></ul>2 1
    • 24. Sector leaders are listed on TMX Group’s equity exchanges
    • 25. Mining Listed Issuers Span the Spectrum Market Capitalization Distribution of Mining Companies As at June 30 2010
    • 26. Our mining companies have operations around the world Africa: TSXV: 100 Companies TSX: 69 Companies UK/Europe: TSXV: 50Companies TSX: 31 Companies Russia & CIS Countries: TSXV: 15 Companies TSX: 16 Companies USA: TSXV: 232 Companies TSX: 98 Companies Central America & Caribbean: TSXV: 29 Companies TSX: 20 Companies South America: TSXV: 177 Companies TSX: 82 Companies Mexico: TSXV: 134 Companies TSX: 62 Companies Australia/NZ/PNG: TSXV: 37 Companies TSX: 43 Companies Asia: TSXV: 64 Companies TSX: 42 Companies Source: InfoMine, June 2010 Canada: TSXV: 756 Companies TSX: 170 Companies
    • 27. International Mining Companies by the Numbers 141 Inter. Mining Cos. on TSX and TSX V $62B Market Cap $4.8B Raised Through 140 Financings in 2009 12B Shares Traded Through 6 Million Transactions in 2009 5 Average Number of Analysts Covering Int’l Mining Cos. Unless otherwise noted, all numbers are as at June 30 2010
    • 28. Recent Listings are Diverse <ul><li>London based dual Listed </li></ul><ul><li>Leading Mining Royalty Company </li></ul>Anglo Pacific Group PLC (TSX:APY LSE:APF) <ul><li>Australian Dual Listed Success Story </li></ul><ul><li>Gold Developer in Western Africa </li></ul><ul><li>Raised $120 M in the First Half of 2010 </li></ul>Perseus Mining Limited. (TSX:PRU ASX:PRU) <ul><li>Lithium-Potash developer in Argentina </li></ul><ul><li>Australian company raised $20 M on TSX </li></ul>Orocobre Limited (TSX:ORL ASX:ORE) -Focus on Gold in Mexico -Raised $50 M Torex Gold Resources Inc. (TSX:TXG) -Mandalay Resources Corporation (TSX:MND) -SouthGobi Energy Resources Ltd. (TSX:SGQ) Graduations from TSX Venture Exchange -$383 M IPO in June 2010 -US company with precious metals project in Guatemala Tahoe Resource Inc. (TSX:THO) -$45 M IPO in April 2010 -Agricultural Nutrient Projects in the Americas -Phosphate Project in Peru Stonegate Agricom Ltd. (TSX:ST)
    • 29. <ul><li>Globally Competitive Exchanges </li></ul><ul><li>Mining Sector </li></ul><ul><li>TSX and TSXV Presence in South America </li></ul><ul><li>Listing on TSX and TSXV </li></ul>Outline
    • 30. Business Development Focus on Latin America 182 251 201 TSX and TSXV International Listings by Country 273 295 281 <ul><li>In 2005, there was one Latin American company listed on TSX/TSXV. There are currently 16 Latin American companies on our exchanges. </li></ul><ul><li>Recent Activities related to TMX: </li></ul><ul><li>20+ trips by TMX employees to Brazil, Colombia, Chile, Peru and Mexico in the past 18 months. </li></ul><ul><li>Increase in new listings </li></ul><ul><li>Institutional investor awareness and trading activity increases </li></ul><ul><li>Chile approved under NI 43-101 </li></ul><ul><li>South American exchanges dual listing TMX listed mining companies </li></ul><ul><li>Consolidation taking place among South American exchanges </li></ul>
    • 31. TSX and TSXV Mining Companies are Active in South America 264 Number of Mining Companies in South America 992 Number of S. American Mining Properties 85 Number of Mining Companies in Peru (264 Mining Properties) $1.4B Amount of Equity Capital Raised in 2009 for Peru Mining Projects Through 36 Financings $3.0B Amount of Equity Capital Raised in 2009 for S. American Mining Projects Through 125 Financings 85 YTD June 30, 2010 $974M equity capital raised for S. American Mining Projects through 47 financings $148M equity capital raised for Peru Mining Projects through 17 financings
    • 32. TSX and TSXV mining companies with projects in Peru There are 28 TSX companies with 112 properties in Peru BARRICK GOLD CORPORATION CANDENTE COPPER CORP. CARDERO RESOURCE CORP. CHARIOT RESOURCES LIMITED CROCODILE GOLD CORP. DYNACOR GOLD MINES INC. GEOLOGIX EXPLORATIONS INC. GOLDEN MINERALS COMPANY GRANDVIEW GOLD INC. IAMGOLD CORPORATION INMET MINING CORPORATION INTERNATIONAL MINERALS CORPORATION MALAGA INC. MAWSON RESOURCES LIMITED MINERA IRL LIMITED NORSEMONT MINING INC. PAN AMERICAN SILVER CORP. PARAMOUNT GOLD AND SILVER CORP. SILVER STANDARD RESOURCES INC. SILVER WHEATON CORP. SOLITARIO EXPLORATION & ROYALTY CORP. SPROTT RESOURCE CORP. SULLIDEN GOLD CORPORATION LTD. TECK RESOURCES LIMITED VAALDIAM MINING INC. VENA RESOURCES INC. YAMANA GOLD INC. ZINCORE METALS INC. There are 57 TSXV companies with 152 properties in Peru AGUILA AMERICAN RESOURCES LTD. ALTURAS MINERALS CORP. AM GOLD INC. AMERICAS PETROGAS INC. ANDEAN AMERICAN GOLD CORP. ANDEANGOLD LTD. ANTARES MINERALS INC. AQM COPPER INC. ARCTURUS VENTURES INC. BEAR CREEK MINING CORPORATION CANADIAN SHIELD RESOURCES LTD. CENTURY MINING CORPORATION CONDOR RESOURCES INC. DORATO RESOURCES INC. DURAN VENTURES INC. EL CONDOR MINERALS INC. ESPERANZA SILVER CORPORATION FISSION ENERGY CORP. FOCUS VENTURES LTD. FORTUNA SILVER MINES INC. GALENA INTERNATIONAL RESOURCES LTD. GITENNES EXPLORATION INC. GOLD HAWK RESOURCES INC. GOLDEN ARROW RESOURCES CORPORATION GRENVILLE GOLD CORPORATION IBERIAN MINERALS CORP. INCA PACIFIC RESOURCES INC. JOURNEY RESOURCES CORP. LARA EXPLORATION LTD. LATEEGRA GOLD CORP. LUCKY MINERALS INC. Source: Infomine MACUSANI YELLOWCAKE INC. MAGELLAN MINERALS LTD. MPH VENTURES CORP. NETWORK EXPLORATION LTD. NEW DIMENSION RESOURCES LTD. NEW HIGH RIDGE RESOURCES INC. NEW OROPERU RESOURCES INC. PANORO MINERALS LTD. PANTHERA EXPLORATION INC. PLEXMAR RESOURCES INC. RADIUS GOLD INC. RIO CRISTAL RESOURCES CORP. ROCMEC MINING INC. SALAZAR RESOURCES LIMITED SHANE RESOURCES LTD. SIENNA GOLD INC. SINCHAO METALS CORP. SOLITAIRE MINERALS CORP. SOUTHERN ANDES ENERGY INC. ST. ELIAS MINES LTD. STRAIT GOLD CORPORATION TAMERLANE VENTURES INC. TINKA RESOURCES LIMITED ULTRA LITHIUM INC. UPPER CANYON MINERALS CORP. WEALTH MINERALS LTD.
    • 33. TSX and TSXV Oil and Gas Companies are active in South America 23 Number of Oil & Gas Companies operating in South America 17 Oil & Gas Companies with South American assets who did recent financings on TMX
    • 34. Snapshot of recent companies active in South America 20 Andean Resources Ltd. (TSX:AND ASX:AND) - $235 million raised for gold in August, 2010 - Australian Company Developing Major Gold Asset Continental Gold Limited (TSX:CNL) - $28 M Financing - Raising $60 M presently Lithium Americas (TSX:LAC) - $45 M IPO in May 2010 Rio Novo Gold Inc. (TSX:RN) MBAC Fertilizer Corp. (TSX:MBC) Kinross Gold Corp. (TSX:K NYSE:KGC) Mirabela Nickel Ltd. (TSX:MNB ASX:MBN) Jaguar Mining Inc. (TSX:JAG NYSE:JAG) Colossus Minerals Inc. (TSX:CSI) Minera IRL (TSX:IRL AIM:MIRL BVL:MIRL) - Head office in Peru - Lima and TSX listed *Number of TSX and TSXV Companies with Projects in the Country Source: Infomine 50 10 63 85* 27 62 17 3 3 14 4 2
    • 35. 2010 New Listings and Financing Activity in South America New Listings: Continental Gold Limited Fortuna Silver Mines Inc. Lithium Americas Corp. MBAC Fertilizer Minera IRL Limited Rio Novo Gold Inc. Ecopetrol S.A. Santa Barbara Resources Limited (TSXV) New Financings for South American Projects First Half 2010: Silver Standard Resources: $120 million (a portion for gold/silver/base metals in Argentina) Rio Novo Gold: $46 million for gold in Brazil Lithium Americas: $45 million for lithium/potassium in Argentina Greystar Resources: $40 million for gold/silver in Colombia Apoquindo Minerals Inc.: $39 million for copper in Peru Crystallex International: $35 million for gold in Venezuela Golden Minerals Co: $35 million for silver in Argentina Fortuna Silver Mines: $34 million for gold/silver in Peru B2Gold Corp: $32 million for gold in Colombia Sunward Resources: $25 million for gold/copper in Colombia Ventana Gold Corp: $21 million for gold in Colombia Peregrine Metals Ltd.: $20 million for copper in Argentina Sulliden Exploration Inc.: $15 million for gold/silver in Peru Polar Star Mining Corp.: $15 million for gold/silver/base metals in Chile Mirabela Nickel Ltd.: $12 million for nickel and copper in Brazil
    • 36. Alturas Minerals Corp. ALT Alturas Minerals Corp. engages in the exploration and development of mineral resource properties in Peru, focusing on the discovery of epithermal gold mineralized deposits & copper-gold porphyry/skarn deposits. It principally has interests in four mineral exploration projects located in southern Peru. The company is based in Lima, Peru. Date of Listing Listed on TSX Venture Exchange by Reverse Take Over on April 10, 2006 Listed on Lima Stock Exchange Financings $1.52 Million Private Placement in April 2010 $10 Million Private Placement in June 2007 $7 Million Private Placement in April 2006 Market Capitalization $6.839 Million as of August 31, 2010 based on 71.98 million shares outstanding 2 Year Price and Trading Volume As at Aug 31/10 *(Source: Capital IQ)
    • 37. Fortuna Silver Mines Inc. FVI August 2010 Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of silver, zinc, lead, gold, and copper ores. The company principally holds 100% interests in the Caylloma silver-zinc-lead mine in southern Peru; and the San Jose silver-gold project in Taviche Mining District, southern portion of state of Oaxaca, Mexico. Listings Graduated from TSX Venture Exchange to Toronto Stock Exchange – January 18, 2010 Listed on Lima Stock Exchange (FVI) and traded on the OTC:BB under the symbol (FVIT.F) Financings Raised $34.5 Million in a Private Placement on TSX in March 2010 Raised $53.3 Million in two Private Placements on TSX Venture between 2006 and 2007 Market Capitalization $295.9 Million as at August 31, 2010 Analyst Coverage 7 Analyst (Source: Capital IQ) 1 Year Price and Trading Volume History As at Aug. 31/10 *(Source: Capital IQ)
    • 38. <ul><li>Globally Competitive Exchanges </li></ul><ul><li>Mining Sector </li></ul><ul><li>TSX and TSXV Presence in South America </li></ul><ul><li>Listing on TSX and TSXV </li></ul>Outline
    • 39. How can Peruvian companies access TMX? <ul><li>Public companies dual list on a TMX exchange and remain listed on home exchange </li></ul><ul><li>Companies can access via IPO, Capital Pool Program (CPC) or RTO onto TSX V or TSX </li></ul><ul><li>Access the TSX or TSXV through an M&A transaction or equity investment </li></ul>
    • 40. Regulating Canada’s Mining Sector <ul><li>Understanding the Regulatory Landscape in Canada </li></ul><ul><li>TMX has supervision of new listings and matters pertaining to continued listing requirements. </li></ul><ul><li>IIROC - National self-regulatory organization which oversees all investment dealers and trading activity in Canada. </li></ul><ul><li>Securities Commission - Regulates investment funds and is responsible for overseeing capital markets and certain provisions of the Business Corporations Act. </li></ul><ul><li>Standards-based exchanges that promote integrity for public SMEs </li></ul><ul><li>Access to specialized products for TSX/TSXV listing. </li></ul><ul><li>Policies for different size companies related to financial reporting, corporate governance and financing methods. </li></ul><ul><li>Regulations to encourage develop of the mining sector </li></ul><ul><li>Tailored listing requirements for mining sector. </li></ul><ul><li>Regulations such as TMX’s Timely Disclosure Policy, National Instrument 43-101 and the Qualified Person requirement. </li></ul><ul><li>Mining focused economy supported by capital markets </li></ul><ul><li>Milestones such as a Canada’s Mineral Exploration Tax Credit and Mining Standards Task Force. </li></ul><ul><li>Expertise in mining across the capital markets, legal community and stock exchanges. </li></ul><ul><li>An increase in investment funds focused on mining sector. </li></ul><ul><li>Canadian regulatory commissions and exchanges are customer-focused </li></ul><ul><li>Access to U.S. capital without the higher cost of regulatory compliance </li></ul><ul><li>Exemptions available for certain markets and dual listed companies </li></ul><ul><li>Right balance of regulatory oversight and timely disclosure compared with other markets. </li></ul>
    • 41. TMX Group has listing criteria specifically for the mining sector <ul><li>Technical Listing Requirements: </li></ul><ul><li>Minimum Property Ownership </li></ul><ul><li>Management Track Record and Experience </li></ul><ul><li>Sufficient Working Capital and/or Mine Life </li></ul><ul><li>NI 43-101 Report </li></ul><ul><li>Exploration & Development or Producing Requirements </li></ul>This table is an overview. For detailed listing requirements go to www.tmx.com
    • 42. Peruvian Listings and Interlistings with BVL <ul><li>Peruvian based silver mining company </li></ul><ul><li>Projects in Peru and Mexico </li></ul><ul><li>Lima and TSX listed </li></ul>Fortuna Silver Mines (TSX:FVI BVL:FVI) <ul><li>Head office in Peru </li></ul><ul><li>Latin American precious metals mining, development and exploration company </li></ul><ul><li>Projects in Peru and Argentina </li></ul><ul><li>Lima AIM and TSX listed </li></ul>Minera IRL Limited. (TSX:IRL BVL:MIRL AIM:MIRL) Vena Resources Inc. (TSX:VEM BVL:VEM) Norsemont Mining Inc. (TSX:NOM BVL:NOM) -Offices in Peru and Chile -Copper project in Peru -Lima and TSXV listed AQM Copper Inc. (TSXV:AQM BVL:AQM) Candente Copper Corp (TSX:DNT BVL:DNT) -Peruvian based gold and copper-gold deposits exploration company -Lima and TSXV listed Alturas Minerals Corp. (TSXV:ALT BVL:ALT) Panoro Minerals Ltd. (TSXV:PML BVL:PML) Inca Pacific Resources Inc. (TSXV:IPR BVL:IPR) Rio Alto Mining Limited (TSXV:RIO BVL:RIO) Interlistings with Lima:
    • 43. Dual Listing Market Continues to Evolve on TSX <ul><li>Key Trends </li></ul><ul><li>Growing number of dual listed success stories </li></ul><ul><li>Dual listed cos. have steadily built profile </li></ul><ul><li>Greater interaction between key mining exchanges </li></ul><ul><li>Dual list process continues to improve </li></ul><ul><li>Accessed significant capital and trading on TMX </li></ul><ul><li>Improvements in home market valuations and trading liquidity </li></ul><ul><li>More mines put into production </li></ul>Dual Listed Companies:
    • 44. Why List on TSX Venture Exchange <ul><li>Financing range: $500K to $20 Million </li></ul><ul><li>Multiple financing rounds = more ground-floor investing opportunity </li></ul><ul><li>Acquisition currency </li></ul><ul><li>Employee stock options </li></ul><ul><li>Mentoring role </li></ul><ul><li>Stepping stone to senior markets </li></ul><ul><li>Streamlined graduation path to Toronto Stock Exchange </li></ul><ul><li>Graduates leave with a track record </li></ul>
    • 45. Capital Pool Company™ (CPC) Program has a Strong Track Record <ul><li>Since inception: </li></ul><ul><li>Over 2050 CPCs were created </li></ul><ul><li>80% have completed their QT – over 1600 companies </li></ul><ul><li>Currently: </li></ul><ul><li>329 Graduates now trade on TSX </li></ul><ul><li>96 of the grads were CPCs </li></ul><ul><li>47 of 82 QTs in 2009 were mining </li></ul><ul><li>36 of 62 QTs in the first half of 2010 were mining </li></ul>
    • 46. Differentiating Ourselves from Other Marketplaces Uniqueness Access to Capital Liquidity International <ul><li>Market structure facilitates graduation from junior market (TSXV) to senior market (TSX) </li></ul><ul><li>Strong feeder system </li></ul><ul><li>Market of choice for Resource and small and mid-cap companies </li></ul><ul><li>Steady growth of capital investment over past 5 years </li></ul><ul><li>Record breaking year in 2009 -- $64.9 billion raised </li></ul><ul><li>Access to North American capital </li></ul><ul><li>Value traded has more than doubled over the past 5 years </li></ul><ul><li>Record breaking year in 2009 for trading volumes and transactions </li></ul><ul><li>295 international companies on TMX </li></ul><ul><li>148 US, 54 China and 32 Australia </li></ul>
    • 47. China Annie Tao 416 947-4273 [email_address] Diversified Industries Raymond King 416 947-4675 [email_address] United States Tala Zarbafi 416 947-4636 [email_address] Energy Cindy Gray 403 218-2822 [email_address] Mining Greg Ferron 416 947-4477 [email_address] Clean Technology Robert Peterman 416 947-4305 [email_address]

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