SAC September 2011 Corporate Presentation
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SAC September 2011 Corporate Presentation

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South American Silver Corp. September 2011 Corporate Presentation

South American Silver Corp. September 2011 Corporate Presentation

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SAC September 2011 Corporate Presentation SAC September 2011 Corporate Presentation Presentation Transcript

  • VALUE.GROWTH.VISION
    Growing and advancing one of the world’s largest undeveloped silver and indium resources.
    TSX: SAC, US OTC: SOHAF
    Corporate Presentation
    September 2011
    www.soamsilver.com
  • Cautionary Notes
    2
    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. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
  • Investment Highlights
    3
    South American Silver Corp.
    • Experienced management team with track record of successful project development and value creation
    • Two large-scale deposits in South America
    • Malku Khota: one of the world’s largest silver-indium-gallium resources
    • Escalones: high potential copper-silver-gold deposit
    • Updated 2011 PEA study doubles estimated production to 13.2 M oz silver, 80 tonnes of indium and 15 tonnes of gallium per year, for first 5 yrs
    • Measured and Indicated resources expanded 60% to 230 M oz silver
    • Well definedbusiness plan to drive shareholder value
    • Leveraged to silver nearly 4 oz of silver per share (6 oz silver equivalent)
    • Attractive investment value relative to peers at low value per oz
    • Exposure to the high-tech indium and gallium market
    • Potential value from new copper-silver-gold resource
    • Strong focus on community relations
    • Well financed into feasibility
  • World-Class Deposits
    4
    Two large-scale assets in South America
    Malku Khota, silver-indium project, Bolivia (100%)
    • Bulk mineable open-pit, sediment hosted deposit
    • Low capital and operating costs as a heap leach or milling operation
    • Update resource increases M&I 60% to 230 M oz silver
    • Pre-Feasibility process started in 2011 & Feasibility in 2012
    • Resource expansion potential with only 4 km of 50 sq km
    property drill tested
    • Potential to be one of the top producing silver and indium mines
    • Funded into Feasibility
    Escalones, copper-silver-gold project, Chile (100%)
    • Large scale target in world-class mining district near El Teniente
    • Exploration program and geophysics underway
    • Resource definition program in 2011
    • Potential significant copper, silver, gold deposit
    *AgEq=total contained metal
  • Share Capitalization2
    5
    TSX:SAC, US OTC:SOHAF
    Issued & Outstanding
    Warrants
    Fully Diluted2
    Options
    117.9M
    6.8M
    10.6M
    100.3M
    Major Shareholders
    • Zamin—19%
    • Private investors--18%
    • Management3 --15%
    Institutional Ownership
    • Sprott Asset Management
    • Front Street
    • K2 funds
    • Kudu Partners
    • ~$200 million Market Capitalization (1)
    • Average 3 mo. trading volume +500,000 shares/day
    • Well financed with +$30 million in cash(2)
    • Potential US listing to increase visibility and liquidity
    (1) As of July 18, 2011, (2) As of June 30, 2011
    (3) Fully diluted basis
  • Adding Value Through Resource Growth
    6
  • Comparative Silver Resources in the Americas
    7
    Second largest development stage silver resource
    Additional value of Indium and Gallium
    Inferred Resources
    M&I Resources
    Millions of Silver Ounces
    Mexico
    Peru
    Mexico
    El Salvador
    Yukon
    (Canada)
    Mexico
    Peru
    Mexico
    Mexico
    Mexico
    Nunavut
    (Canada)
    Guatemala
    Bolivia
    Chile
    Peru
    Source: Canaccord Report resource numbers as of January 11, 2011
    Note: All companies have projects in South and/or North America
  • Enterprise Value per Silver Resource Oz
    8
    Producer Average
    >$24/oz
    By project development stage
    EV of >$0.80 base on 230.3 million M&I oz Ag
    Advanced Development Stage Average ~$7/oz
    Development Stage
    Average ~$4/oz
    Source: Canaccord & Intierra as of June 9, 2011,
    Note: All companies have projects in South and/or North America
  • Development Stage Value Curve
    9
    Potential value growth with project advancement
    Production
    Average Enterprise Value per Oz of Silver by Stage
    Take-Over offers or Partnerships common at this stage
    $24/oz
    Construct
    Increased value through resource expansion
    Permits
    FS
    Increasing Market Value
    $7/oz
    PFS
    Resource
    Definition
    PEA
    $4/oz
    Advanced
    Development Stage (Reserves)
    Early Stage
    Exploration & Development
    Production
    Discovery
    Increasing value with project advancement
    Source: Recent average enterprise value per ounce of silver at various development stages for North and South American based projects. Canaccord, Wellington West and Company reports.
  • Current Silver Company Market Valuations by Resource Size & Development Stage
    Size of circle represents market valuation premium in EV/oz
    10
    Developers
    Producers
    Adv. Developers
    500
    SAC
    SAC
    SAC
    US Gold
    $2,000
    $1,000
    Total Resource Ag Equivalent using (Ag +Au only at $25/oz and $1000/oz values)
    Source: Canaccord Report July, 2011 and Intierra, July, 2011
    Share prices as of Sept 7 2011,
    Note: All companies have projects in South and/or North America
  • Positive Silver Fundamentals
    11
    A paradigm shift for silver?
    • Major shift in supply/demand dynamic over past several years
    • Silver still well below inflation adjusted highs of $140/oz ($50 in 1980)
    • Silver is a “hybrid” precious and industrial metal due to its scarcity and unique properties including superior electrical and thermal conductivity, malleability, reflectance, and catalytic/biologic reactivity
    • Price increases driven by 40% increase in investment demand and 21% increase in industrial demand for a total increase of 17% in 2010
    • Total annual mine production growth only 2.5% last year with reduced contribution of by-product silver from copper and gold production
    • Projected new mine supply anticipated to be consumed by new industrial demand through at least 2015
    • Chinese imports up 4x since 2009 with change from net sellers of more than 100 M oz of silver in 2005 to net buyers of more than 120 M oz in 2010
    • Few major new deposit discoveries and growing time lag from time of discovery to metal production
    Source: 1) GFMS World Silver Survey 2011
    2) BMO Capital Markets Global Mining Research April 2011
  • Silver Supply/Demand Fundamentals
    • Dramatically increased demand growth driven by strong investment demand plus increased industrial consumption(1)
    • Demand growth expected to continue to outstrip production growth(2)
    +17% total demand growth
    +8% total supply growth
    +40% investment demand
    +2.5% mine production
    +21% industrial demand
    Source: 1) GFMS World Silver Survey 2011
    2) BMO Capital Markets Global Mining Research April 2011
    12
  • Growing World Investment Demand For Silver
    13
    Source: GFMS World Silver Survey 2011
  • Growing Demand for Silver in Technology
    14
    Breakdown of key technology/industrial uses for silver
    Millions of Silver Oz
    Source: CPM Silver Yearbook 2010
    Not for reproduction without written CPM Group consent
  • Thin Film/Thick Film Demand Growth
    15
    Growing demand in solar technology
    PV related silver consumption
    Growth assumptions based on data from Displaybank in LCD TV Association “LCD TV Matters”-Volume 3, Issue 2, February 2010 , Strategies Unlimited, August 2009 , Solarbuzz, Photon International, GFMS , Nanomarkets, and the US Department of Energy Critical Minerals Strategy Report
  • Silver Primary & By-Product Production(1)
    16
    • 70% of silver is by-product production from base metals and gold
    • By-product silver production is largely silver price inelastic
    • Reduced by-product silver production anticipated going forward from base metals(2)
    Source: 1) GFMS World Silver Survey 2005-2011
    2) BMO Capital Markets Global Mining Research April 2011
  • Indium & Gallium – Two Key Strategic Metals
    17
    Rapidly growing market for high-tech uses
    Uses
    • Indium-tin oxide (ITO) a key component of flat panel displays (FPDs) and touch screens
    • High-efficiency CIGS (copper, indium, gallium, selenide) photo-voltaic thin-film solar panels, and LED lighting
    • Fiber optics, specialized and transparent semiconductors
    Supply
    • Global indium use growing rapidly and could surpass available supply from by-product zinc refining at current price range
    • One of the most scarce strategic metals due to low recycling and few primary producers
    TSX:SAC
    US OTC:SOHAF
  • Indium & Gallium Fundamentals
    18
    Compelling supply/demand dynamics
    Indium and Gallium Supply/Demand dynamics
    • Indium and gallium highlighted in UN and US DOE studies as a critical technology metals in potential shortage, along with several key rare earth metals, due to rapidly increasing growth, low recycling rates and low primary production
    • China is largest producer and consumer of indium and has imposed export quotas and tariffs like other key high-technology specialty metals
    • Indium market estimated to see 15-20% annual growth with most indium produced as by product of zinc refining growing at 1-3% annually
    • Current indium and gallium price ~$900-1000/kg up from global economic lows during 2008-2009 of $400-500/kg
    • Gallium market estimated to be a conservative 15% annual growth rate which could increase significantly with more rapid growth in LED lighting and photovoltaics
    Malku Khota annual indium and gallium production
    • Malku Khota projected to be one of the world’s largest indium & gallium producers (80 tonnes and 15 tonnes per year)
    • Potential to represent 10% or more of global mine supply of indium and over 5% of global supply for gallium
    • Opportunities for project financing from off-take agreements for indium & gallium
    Sources: (1) US Dept. of Energy Critical Materials Strategy, Dec. 2010. (2)United Nations Environment Programme (UNEP) Special Report on Strategic Metals ,May 2011 .
  • Criticality Index for Clean Energy/Technology Development
    19
    Showing Forecast Supply Shortages of Most Important Metals
    Short Term (0-5 Years)
    Long Term (5-15 Years)
    4
    4
    high
    high
    3
    3
    Importance
    to clean energy
    Importance
    to clean energy
    2
    2
    1
    1
    low
    low
    1
    2
    3
    4
    1
    2
    3
    4
    high
    high
    low
    Supply Risk
    Supply Risk
    low
    Important
    Near Critical
    Critical
    Sources: (1) US Dept. of Energy Critical Materials Strategy,
    Dec. 2010.
  • 20
    Indium Supply
    Mine Production and Refining
    Source: 1)Roskill ‘s Indium: Global Industry Markets and Outlook ,2010
    BLEU: Belgium, Luxembourg Economic Union
  • Indium Demand Growth
    21
    Growing demand in high-tech markets
    5 year projected demand growth
    End-use Market Demand (tonnes)
    2010 total indium production level
    Growth assumptions based on data from Displaybank in LCD TV Association “LCD TV Matters”-Volume 3, Issue 2, February 2010 , Strategies Unlimited, August 2009 , Solarbuzz, Photon International, GFMS , Nanomarkets, and the US Department of Energy Critical Minerals Strategy Report December 2010
  • Indium Fundamentals
    World indium demand vs price (1969-2011*)
    Indium Demand
    Current Indium Price
    X
    Indium Price/kg ($US)
    Source: (1) Indium: Global Industry Markets and Outlook, 9th Edition 2010 (Roskill) *2011-2013 Data are estimates (2) 2011-2015 Estimates US Dept. Of Energy Critical Materials Strategy Dec. 2010.
    16
  • Silver Mines in Bolivia
    23
    One of the world’s premier silver mining districts
    • Historical district production of billions of ounces of silver
    • Highly prospective & under-explored
    • Increase from 9th largest global silver producer to 5th largest with completion of three major silver mines in past four years:
    • Pan American Silver – San Vicente
    • Coeur D’Alene - San Bartolome
    • Sumitomo - San Cristobal
    TSX:SAC
    US OTC:SOHAF
  • Opportunity in Bolivia
    24
    An emerging resource based economy
    • Bolivian government encouraging private investment
    • Member of Mercosur Regional trade organization with Brazil as largest trading partner
    • Government bond ratings upgraded by Moody’s & Fitch
    • Mining second largest economic sector
    • One of the world’s premier silver districts with billions of ouncesof silver production
    • Planned $32 billion 5-7 year infrastructure build-out by Bolivian government for new rail and road corridors and hydropower generation
    • Three Major silver mines built within last four years by Pan American Silver, Coeur D’Alene, and Sumitomo
    • Substantial resource industry investments in Bolivia
    • Jindal Steel of India investing US$2.1 billion in giant El Mutun iron ore deposit
    • Petrobras of Brazil—Latin America’s largest publicly traded oil company – investing US$1 billion of new capital into the Bolivian gas fields
    • Repsol of Spain investing $1.6 billion to increase gas production in Bolivia
    • Petrobras and Repsol have announced new exploration initiatives in Bolivia in early 2011
    • Recently announced investments by Chinese and South Korean companies to develop lithium resources
    TSX:SAC
    US OTC:SOHAF
  • Malku Khota Project
    25
    One of the world’s largest silver-indium resources
    Malku Khota Project – 2011 Resource Estimate
    Average for the first 5 years of production
    See March 31, 2011 News Release for detailed resource estimate
    Total contained metal
  • Malku Khota Project
    26
    Low projected capital and operating costs with established infrastructure
    • 50 square km, 100% owned, road accessible project
    • Low capital and operating costs on a per ounce basis
    • Potential to be one of the top primary silver and indium producing mines at 13.2 Moz silver per year and 80 tonnes of indium1
    • Project base case annual cash flows and NPV’s more than doubled
    • Open pit, bulk mineable and very scalable
    • Commercial electricity and natural gas nearby
    1) Average for the first 5 years of production
  • Mineralization
    27
    Open pit, bulk mineable silver-indium deposit
    Host rock sandstone with disseminated
    silver, indium, gallium, lead, zinc and copper
    Enrichment starts at surface
    Average grade first five years:
    • Silver: 42.2 g/t (58 g/t Ag Eq) 1
    • Indium: 7.55 g/t
    • Economic cut-off grade <15 g/t(at $18/oz Ag) 2
    AgEq comprised of all contained metals
    Economic cut-off grade comprised only of silver and indium
  • Malku Khota Drilling
    28
    Grade thickness map
    OPEN
    • 115 drill holes in current resource with updated resource Q1-2011
    • Updated resource results increase total M&I oz to 230 Moz Ag (a 60% increase in M&I oz) plus an additional 140 M inferred Ag oz
    • 2011 program to target conversion from resources to reserves & expansion drilling
    • Mineralization begins at surface
    • Deposit open along trend and down dip with excellent potential for expansion
    • New discovery of higher grade zones and down dip expansion of surface mineralization
    Mineralized
    Sandstones
    OPEN
    OPEN
    TSX:SAC
    US OTC:SOHAF
  • Malku Khota Mineralization
    29
    • Broad zones of continuous sediment hosted mineralization
    • Open at depth and along trend
    LMD048: 286 meters grading 76 g/t AgEq Grade thickness values of over 21,500 g-m AgEq
    OPEN
    OPEN
    TSX:SAC
    US OTC:SOHAF
  • Production Processes
    30
    From ore to metal
    Open Pit Mining
    • Large scale shovel and truck open pit mining operation
    • Ore crushed in preparation for leaching
    • Acid-chloride leaching in captures silver, indium, copper, lead, zinc, gallium and gold
    • Metal recovery in several steps:
    • Acid recovery
    • Silver-gold-copper cementation
    • Indium-gallium precipitation
    • Lead and zinc sulfides
    • Downstream processing to metal products
    Crushing
    Leaching
    Metal Recovery
    & Processing
    Silver, Gold, Copper
    Indium & Gallium ingots
    Lead & Zinc concentrates
    TSX:SAC
    US OTC:SOHAF
  • 2011 Economic Assessment
    31
    Metal Prices ($US)
    Mid Case
    Recent
    Base Case
    Mining Rate
    Life of Mine
    Ore Mined (LOM)3
    Average Silver Grade 2
    Average Indium Grade2
    Ag Eq grade
    40,000 tpd
    15 years
    200M tonnes
    42.2 g/t
    7.55 g/t
    58 g/t
    $35/oz
    $650/kg
    $730/kg
    Silver : $18/oz
    Indium : $500/kg
    Gallium: $500/kg
    $25/oz
    $570/kg
    $570/kg
    LOM
    Annual
    First
    5 years
    Total
    Recovered Metals
    Silver (oz)
    Indium (tonnes)
    Lead (lbs)
    Zinc (lbs)
    Copper (lbs)
    Gallium (kgs)
    158 M
    1,184
    191M
    135 M
    88 M
    212,962
    13.2 M
    80.7
    12.48M
    4.42M
    5.64M
    15,184
    10.5 M
    78.9 M
    12.7 M
    9 M
    5.87 M
    14,198
    Base Case
    Mid Case
    Recent
    First 5 years cash flow
    Net cash flow
    NPV (5% discount rate)1
    Internal Rate of Return
    Payback period (years)
    $185M/yr
    $1,261M
    $704M
    37.7%
    27 months
    $287M/yr
    $2,528M
    $1482M
    63%
    19 months
    $430M/yr
    $4,298M
    $2571M
    92.9%
    15 months
    In US dollars, March 2011, PEA
    First 5 years of production (average)
    LOM = Life of Mine
  • Silver Producer Price to Cash Flow Multiples (P/CF @ $30/oz)
    32
    Malku Khota
    PEA Projected Cash Flows
    Source: BMO Capital Markets Global Mining Research Report, April 3, 2011 (share prices as of March 31 2011)
  • Primary Silver Project Annual Production Rates
    33
    Malku Khota one of largest emerging producers at over 13 Moz/yr
    BHP Billiton
    Fresnillo
    Producers
    Barrick Gold Corp.
    Developers
    South American Silver Corp.
    Malku Khota
    Tahoe Resources
    Sumitomo Corp.
    Pan American Silver
    Cia De Minas Buenavertura
    Sabina Gold & Silver
    Industrias Penoles
    Silver Standard Resources
    Silver Standard Resources
    Polymetal MNPO
    Bear Creek Mining
    Goldcorp Inc.
    Pan American Silver
    Yamana Gold
    Hochschild
    Coeur d'Alene
    Hochschild
    Etibank
    Hecla
    Source: CPM Silver Yearbook 2011
    *Based on mine production of 13.2 Moz /year for first five years
    BHP Billiton
    Fresnillo
    Barrick Gold Corp.
    South American Silver Corp.
    Sumitomo Corp.
    Tahoe Resources
    Pan American Silver
    Silver Standard Resources
    Silver Standard Resources
    Cia De Minas Buenavertura
    Sabina Gold & Silver
    Industrias Penoles
    Pan American Silver
    Polymetal MNPO
    Bear Creek Mining
    Goldcorp Inc.
    Coeur d'Alene
    Yamana Gold
    Hochschild
    Hochschild
    Etibank
    Hecla
  • Global Silver Industry Cash Cost Curve
    34
    Anticipated low-cost silver production
    Cumulative Percentile of Silver Mine Production Cost
    Lowest 25% Percentile Cash Costs
    Malku Khota
    13.2 Mozs/yr (1)
    ~ $2.94/oz (2)
    Total Cash Cost Per Ounce of Silver
    Industry AverageCash Cost
    $5.27/oz
    Source: GFMS World Silver Survey 2011
    Average first 5 years of production
    Silver cash costs after credits ($US)/oz
  • Escalones Copper-Silver-Gold project, Chile
    35
    High potential, large-scale target
    • 70 square km, road accessible, large scale system in well established mining district
    • Located near one of the worlds largest underground copper mines at El Teniente
    • Historic drilling shows >1% copper grades at surface and untested porphyry system grading 0.6% copper
    • Additional significant gold, silver and molybdenum credits
    • Exploration program underway
    • Resource estimate targeted for 2nd half of 2011
    TSX:SAC
    US OTC:SOHAF
    30
  • Escalones Project Logistics
    36
    Excellent existing infrastructure
    Ownership: 100% through lease
    Location: 35km E of El Teniente
    Elevation: 3800m
    70 square kilometer property
    Road accessible located 100 km southeast of Santiago
    Gas pipeline across property
    30 Drill holes completed to date
    SAC property
    Gas pipeline
    Access Road
    TSX:SAC
    US OTC:SOHAF
    31
  • Drill Results Grade Thickness Map
    37
    Large-scale copper-silver-gold system
    • Open to expansion down dip and laterally
    • Strong historic drill results
    • Limited testing of porphyry system with most holes in replacement /skarn style mineralization
    TSX:SAC
    US OTC:SOHAF
    32
  • Escalones
    38
    Geological cross-section
    • Enriched zones with high grades of replacement style mineralization starting at surface at over >1% copper with significant silver, and gold
    • Large scale porphyry target with intercept of 176 m @ 0.6% copper with additional credits from silver, gold, and molybdenum
    Alto
    Bajo
    TSX:SAC
    US OTC:SOHAF
  • Community Relations
    39
    A key to successful project development
    • Recent key additions to community relations team:
    • Jim Mallory, VP Operations and Social Responsibility – 35 years industry experience previously with Silver Standard, NovaGold, & Barrick (Placer Dome)
    • Miguel Reynaga, Director of Community Relations - 16 years experience with Newmont at their Inti-Raymi (Kori Kollo) Mine in Bolivia
    • Objectives to facilitate economic development in communities as part of project exploration, development and construction activities
    • Project construction will see workforce of over 1,000 with mine workforce of over 400 or more
    *Business for Social Responsibility, San Francisco, CA
  • Project Milestones
    40
    Value drivers over the next 6-12 months
    • Malku Khota, silver-indium-gallium project, Bolivia
    • Updated resource estimate & PEA more than doubles annual production to 13.2 M oz of silver, 80.7 tonnes of indium and 15 tonnes of gallium per year*
    • Updated resource results show 60% increase in M&I ounces to 230 M oz of silver with an additional 140M oz inferred, and indium to 1,481 tonnes M&I and 935 tonnes inferred
    • Cash flows, project valuations and rates of return significantly expanded over previous studies
    • Pre-Feasibility work has started for the second half of 2011
    • Major camp expansion to support up to 6-8 drills
    • Feasibility work to begin in 2012
    • Escalones, copper-silver-gold porphyry project, Chile
    • Exploration and Geophysics program underway
    • Drill program to begin late in 2011
    • Target for initial resource estimate in 2nd half of 2011
    • Potential for significant deposit of copper, gold and silver
    *Average first five years of production
  • Leveraged to Silver
    41
    Value of silver per dollar invested
    Additional value of Indium and Gallium
    Silver value per $1 invested
    SAC has some of the best leverage to silver of any development stage company with nearly $45 of silver value per $1 invested
    Average value of silver <$8 of silver per $1 invested*
    Source: Canaccord as of January 17, 2011, Share prices updated May 24, 2011
    Note: all companies have projects in South and/or North America
    Calculated using $25/oz Ag. Dollar value of silver per $1 invested = (silver resource/shares outstanding) x $25/oz silver) divided by share price
    Value only shown for silver with no contribution from other metals
  • Why South American Silver?
    42
    Investment highlights
    • World-class scale projects with excellent expansion potential
    • Track record of discovery and successful project development
    • Growing shareholder value through resource expansion and advancing projects up the development value curve toward feasibility
    • Leveraged to silver with nearly 4 oz of silver per share (6 ozs Ag equivalent)
    • Attractive investment value relative to peers at low value per oz
    • Exposure to rapidly growing indium and gallium high-technology market
    • Potential value from new copper-silver-gold resource definition and expansion at Escalones
    • Continued investor outreach to broaden market awareness of Company
    • Potential for NYSE-AMEX listing in the U.S.
    TSX:SAC
    US OTC:SOHAF
    37
  • 43
    TSX: SAC
    OTC: SOHAF
    Phone: 604.681.6926
    1.855.681.6926
    www.soamsilver.com
    Greg Johnson
    President & CEO
    TSX:SAC
    US OTC:SOHAF
  • Relative Stock Performance
    44
    SAC outperforming key silver & gold indices
    • Trading liquidity increasing with average volume of 500,000 shares/day
    • SAC undervalued relative to peers at >$0.80 Enterprise Value/oz vs average of more than $4/oz for early stage resources
    TSX:SAC
    US OTC:SOHAF
  • Zamin Group - Strategic Investment
    A key regionalplayer
    • Well funded regional player in South American resources industry with major projects in Brazil, Uruguay, Bolivia, and Chile
    • Strategic 19% investment positions SAC in strong financial and operational position to advance projects to feasibility
    • Track record of successfully facilitating South American project development through relationships with national and state governments in the region
    • Portfolio of South American projects with strong government support in permitting, rail and port infrastructure
    • Bamin Project-Brazil
    • Valintine Project-Uruguay
    • Acquiring assets in Bolivia over past year
    TSX:SAC
    US OTC:SOHAF
    45
  • Management & Directors
    46
    Ralph Fitch (Executive Chairman)is an explorationist with over 40 years of global experience, a co-founder of South American Silver and former Chief Geologist for Chevron Minerals credited with several major discoveries in South America.
    Antonio Canton (Director) is consultant and director to a number of international companies in marketing, finance and real estate.
    Tony Cau (Director) is COO at Zamin Ferrous. With over 30 years of experience in the mining, construction and heavy manufacturing industries, he has been involved in mine development and expansion projects around the world for groups like BHP, SNC-Lavalin, and Bateman Engineering.
    Jeffrey Couch (Director) is the Head of Business Development at ENRC and has held various financial advisory positions including for private equity groups such as Campbell Lutyens, was Director of Metals & Mining Investment Banking for Credit Suisse, and a key member of the capital markets team for Citigroup European Investment Bank.
    Paul Haber (Director) is a Chartered Accountant and a Certified Public Accountant, and previously CFO of a TSX-V company and Chairman of the Audit Committee for South American Silver.
    Peter Harris (Director) is a mining engineer with over 40 years of industry experience including construction and operation of over 20 mines around the world with groups such as Barrick (Placer Dome) and NovaGold.
    William Murray (Director) is an engineer in the mining industry with over 35 years of experience in construction management and project evaluation with groups including Fluor Daniel, Denison Mines, Optimum Project Services and Anglo American Corp.
    John Watson (Director) is President of a TSX -V listed company and Manager of a limited liability corporation in commercial real-estate.
    Tina Woodside (Director) is the head of Gowlings’ corporate finance department and practices corporate and securities law focused on corporate finance, M&A and corporate governance matters.
    Greg Johnson (President/CEO & Director)has over 25 years mining industry experience in corporate finance, project development and exploration. A s a co-founder of NovaGold, he played a key role in growing that company from $50 million in value to over $2 billion market capitalization advancing 3 major projects through to Feasibility.
    William Filtness (Chief Financial Officer)is a Chartered Accountant with over 20 years of financial experience in the mining industry.
    Phillip Brodie-Hall (Vice President of Project Development) has over 35 years experience in engineering construction and project development. He has participated in nearly every aspect of evaluation, feasibility studies and project development in the mining industry.
    James Mallory (Vice President of Operations & Social Responsibility) hasover 30 years of mining industry experience in large-scale mine management, operations and construction for companies including Barrick (Placer Dome), Silver Standard, and NovaGold.
    Felipe Malbran (Vice President of Exploration)has over 25 years experience in exploration management in South America including key roles in the discovery of Malku Khota, Vizcachitas, and Escalones.
    David Dreisinger (Vice President of Metallurgy) is Professor and Industrial Research Chair in Hydrometallurgy at the University of British Columbia. He is actively involved in developing and commercializing hydrometallurgical process at a number of mines worldwide.
    Andrew Clark (Manager of Project Implementation) has over 30 years global industry experience in the development, design, management and construction of industrial mining projects.
    Richard Doran, (Vice President & Corporate Secretary) has extensive industry experience including with General Minerals and as Marketing Manager for Chevron Minerals.
    Xavier Gonzales Yutronic (General Manager Compañía Minera Malku Khota S.A.) has experience in management, finance, and community relations in the mining industry including with Glencore, and Comsur S.A.
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