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Great Quest Corporate Presentation

  1. 1. Click to edit Master title style TSX-V:GQ A MINE OF OPPORTUNITIES Corporate Presentation February 2013
  2. 2. Disclaimer This presentation contains forward-looking statements or forward-looking information within the meaning of applicable securities legislation (hereinafter collectively referred to as "forward-looking statements") concerning the Companys plans for its properties, projects, operations, subsidiaries and other matters. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management regarding operations of the Company which are subject to a variety of business and market risks, including political and regulatory risks associated with mining and exploration in Mali. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are based on certain assumptions which the Company believes are reasonable, however, forward-looking statements are subject to a variety of business and political risks and uncertainties. Some of the important risks and uncertainties that could affect forward-looking statements are also described in the Companys continuous disclosure filings made with Canadian securities regulatory authorities, which are available at the SEDAR website and on the Company’s website. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, they may adversely affect the Company’s business and prospects and actual results may vary materially from those described in forward-looking statements. Forward-looking statements are made based on managements beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward- looking statements if these beliefs, estimates and opinions or other circumstances should change, other than as required by applicable laws. Investors are therefore cautioned against placing undue reliance on forward-looking statements. The technical information in this presentation has been reviewed by Jed Diner, MSc. P.Geol., a qualified person as defined by National Instrument 43-101. 2
  4. 4. GQ Flagship Project – Tilemsi Phosphate PROJECT BACKGROUND  50 million tonnes (Mt) inferred resource on 26 km² drilled surface  High natural grade 24.3% P₂O₅  Significant upside potential, project covers 1,206 km² (3 licenses)  Strategic source of reactive & soluble phosphate for direct application, low cost fertilizer or as a NPK component  Experienced management team with track record in project development and mineral discovery in West Africa 4
  5. 5. GQ Gold Concessions GQ Gold • GQ holds 2 gold concessions located in the productive Birimian Gold Belt in western Mali: • Sanoukou 24 km² • Dabia Ouest 100 km² Background - Birimian Belt • A prolific gold belt with 14 deposits • >30m Oz of gold discovered to date • Mali – 3rd largest gold producer in Africa Mali Operational Gold Mines • Producing gold mines in the same area: • Randgold Loulo + Gounkoto • Endeavour Segala + Tabakoto • Anglogold/Iamgold Sadiola + Yatela 5
  6. 6. Stock Information STOCK INFORMATION TSX-V: GQ SHARES OUTSTANDING 44.7 m -OPTIONS 3.8 m -WARRANTS 0.8m FULLY DILUTED 49.3 m 52-WEEK LOW/HIGH $0.43/$3.71 3-MONTH AVG. VOL. 36,089 52-WEEK MARKET CAP. $20.36/$173.6m As of February 5, 2013 6
  7. 7. 12-Month Stock Price / Mali and GQ Events Significant value play, impacted by the recent Mali geopolitical crisis 7
  8. 8. Our People Board John A. Clarke – Chairman Management Former CEO of Nevsun Resources and Executive Director of Ashanti Goldfields Joel Jeangrand President, CEO and Director Joel Jeangrand – Director Former CEO of Pan American Hydro and Former CEO of Pan American Hydro; VP Corporate Development VP Corporate Development of Spur Ventures of Spur Ventures with a phosphate project in China with a phosphate project in China. Victor Jones – Director Jayram Hosanee 30 years of experience in senior executive and board positions in public mineral exploration and technology companies Chief Financial Officer Former CFO at Mineral Hill and Ehud Levy – Director Golden Dawn Minerals. Holds a CGA. Phosphate manufacturing industry consultant with a 30-year career with Bateman Engineering and Rotem Mohammed Bouhsane Chief Operating Officer Gordon Peeling – Director Former Project Engineer in the Moroccan President of Mining Association of Canada (MAC) with 30 years mining and metallurgy industries working for of mining experience in the public and private sectors the ONA Group and OCP. Jed Richardson – Director Candice Font Former VP Corporate Development at Verde Potash and Investor Relations Manager Institutional Equity Research Analyst at Cormark Securities Former Media Project Manager for Africa Investor, a specialised publication; and IR David Shaw – Director Consultant at Silver Bull Resources. Worked as Senior Mining Analyst at Yorkton Securities; initiated and developed Resource Research Group at Charlton Securities 8
  9. 9. Investment Highlights Positive attributes • Naturally effective fertilizer product with low OPEX and CAPEX expectations • Strip minable – Near surface deposit (<10 meters on average) • Simple production process as per characterization tests Upside potential • 3 phosphate concessions with total surface of 1,206km² • To date only 2% of total area has been drilled (26 km²) Market potential: West Africa • Fast growing population (>2% pa) drive food demand in West Africa • Large agribusiness investments in West Africa Logistical advantage • Proximity to key agricultural markets in West Africa (<1,000 km radius) • Ability to offer low farm-gate price thanks to market proximity Expertise • Strong combined management and board expertise in mineral exploration in Africa and the global phosphate and fertilizer industry 9
  11. 11. Unique Deposit Attributes With a high average phosphate grade and significant exploration upside, the Tilemsi deposit has the potential to become a world-class phosphate resource . TILEMSI PHOSPHATE INITIAL INFERRED 50 million tonnes RESOURCEAVERAGE PHOSPHATE 24.3% P₂O₅ GRADECONCENTRATE GRADE 25-38% P₂O₅ Low levels of contaminantsCONCENTRATE QUALITY (ie. cadmium) Easy separation and BENEFICIATION treatment Near surface DEPOSIT DEPTH Strip-minable potential 11
  12. 12. Exploration Program 589 5 km Phases 1 and 2 of Drilling Program completed 417 200 Map of Tilemsi Phosphate Project showing our concessions on remote sensing and drilling program (completed and planned) 12
  13. 13. Phosphate Rock Characterisation Tilemsi natural phosphate (TNP) meets or exceeds market specifications for Characterization beneficiation, solubility and granulation. tests indicate: TNP can be used as either as very low cost phosphate component for blended NPK fertilizer or as a direct application fertilizer. Test Results Impact Screening at 850 microns to Via simple screening process, the product can BENEFICIATION achieve P2O5 grades easily beneficiated to up to 36.8% P₂O₅ of 36.8% 71.1% soluble P2O5 The rock solubility shows that it is able to compete with other in citric acid SOLUBILITY 62.5% soluble P2O5 chemical fertilizers, as fertilizers’ effectiveness is based on immediate availability of the nutrients in formic acid The product can easily be granulated, allowing the product to Successfully produced granules GRANULATION sized 1-4mm withstand transportation and be used as a component of NPK blended fertilizer 13
  14. 14. GQ Unique Product Development Path 1. Raw Material Phosphate Ore 2. Beneficiation Phosphate Rock Concentrate Phosphoric Acid/ Sulfuric Acid Plant Granulation Nitrophosphate Plant 3. Transformation Nutrient Additives to Final Product, Ammonia Potash incl. Granulation Urea SSP TSP DAP/MAP NPK Blended NPK 4. Primary Use Direct Application Direct Application or Custom Mix Fertilizer Legend: GQ: 2 Possible Development Paths Fertilizer SSP: Single Superphosphate; TSP: Triple Superphosphate; MAP:Mono-Ammonium Phosphate; Types DAP: Di-Ammonium Phosphate; NPK: Nitrogen, Phosphate, Potassium 14
  15. 15. Hyper Phosphate & NPK Development Plan 15
  16. 16. Regional Market Penetration Map of West Africa showing the Tilemsi deposit and GQ market development objectives 16
  17. 17. WHY PHOSPHATE 18
  18. 18. Phosphate - a Strategic Resource Essential to life: • Essential nutrient for plant/animal life Key nutrient in agriculture: • 90% is used in fertilizers • Stimulates root development • No known substitute Limited resource: • A limited, non-renewable resource • 67% of global production in just 3 countries • 79% of world reserves located in 7 countries 19
  19. 19. Demand Drivers • World population projection • The amount of arable land per capita is shrinking 10 billion people by 2100 • Africa’s population is expected to double to 2 billion by 2050. World population growth Arable land per capita • A more affluent world will consume more food World population projection Grain required to produce 1kg of meat 20
  20. 20. WHY AFRICA 21
  21. 21. Available Arable Land 60% OF THE WORLD’S ARABLE LAND IS IN AFRICA According to Zürich-based advisory firm, EBG Capital, sub-Saharan Africa offers 590m hectares of available cropland, while the rest of the world offers just 380m hectares. • Only 23-30% of arable land in W. Africa is currently cultivated • Low fertilizer usage (9kg/ha vs. 101kg/ha in the rest of the world) Source: EBG Capital 22
  22. 22. Agribusiness Opportunities AFRICA IS ATTRACTING LARGE AGRIBUSINESS INVESTMENTS• 62% of all large-scale land acquisitions since 2000 have occurred in Africa.• Agriculture in Africa will grow from its current $280 billion a year to $500 billion in 2020, and $880 billion by 2030.• Nigeria’s agricultural sector could grow by a colossal 160% by 2030, rising from $99 billion in 2010 to $256 billion two decades later. Agribusiness project sizes – January 2012 Source: GRAIN, AGRA Alliance, McKinsey (investment underway or completed in ‘000s USD) 23
  23. 23. West Africa Cash Crops Source: Bureau Issala, JL Chaleard and SWAC 24
  24. 24. Growing Agricultural SectorAFRICA THE WORLD’S NEXT AGRICULTURAL FRONTIER Development of cash crops in West Africa (1980-2006) Source: FARM 2008 GQ target markets: Principal production and food crop locations Source: Bureau Issala, JL Chaleard and SWAC 25
  25. 25. Significant Growth PotentialThese 2 graphs support the casefor more fertilizer use in Africa,for higher agricultural yield. Gap between actual and potential maize yields Source: Jayne et al. 2009 4000 kg/ha 50,000 45,000 000s of hectares 3500 World 40,000 3000 35,000 2500 30,000 2000 25,000 20,000 1500 West Africa 15,000 1000 10,000 Cereal yield growth 500 5,000 vs. area harvested 0 0 Source: FAO 1961 1966 1971 1976 1981 1986 1991 1996 2001 2006 26
  26. 26. Conclusion AFRICA WELL PLACED TO BOOST ITS AGRICULTURAL YIELD • Land is under-utilized • Water exists in great quantity • Significant increase in agricultural yield possible • Competitive cost of land • Relatively low labour cost • Growing middle-class with improving dietary needs Source: Deloitte Africa Agribusiness Unit 27
  27. 27. WHY GREAT QUEST 28
  28. 28. Great Quest - A Unique Value Proposition Our Vision: To unlock West Africa’s fertilizer market by providing cost effective and adapted solutions to meet growing agricultural needs Our Key Strengths: Proven Solid Mineral Discovery Management & Board PEA Results Track Record Significant Project Stock 52-Week High: Support from Exploration Upside C$ 3.71 Key Stakeholders 29
  29. 29. Milestones and Catalysts 2010 2011 2012 2013 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4Prospecting license of Tilemsi phosphate concession grantedSale of Kenieba gold concession to Avion Gold (now Endeavour)Phosphate exploration permit granted for Tilemsi & Tarkint EstPhase I of Exploration Program completed on Tilemsi & Tin HinaPhase II of Exploration Program completed on Tarkint EstTilemsi Phosphate project receives 32.6Mt initial resource estimateProject area extended to 1,206km² with new concession of AderfoulCharacterisation tests indicate high grade & reactivity of the rockIncrease of 17Mt of inferred mineral, totalling 50MtComplete PEAPre-Feasibility StudyFeasibility StudyProject FinancingConstruction of Mine Site and Beneficiation PlantLaunch Hyper Phosphate Production 30
  30. 30. APPENDICES 31
  31. 31. Resource Estimate The NI 43-101 mineral resource reports provide an inferred mineral resource estimate of 50 million tonnes at a grade of 24.3% P2O5 (at a cut-off of 10% P2O5) Drilling Cut-Off Tonnes Average Grade Target Zone Strip Ratio Campaign Grade (%) (000s) (P₂O₅ %) Phase I Alfatchafa 10 12,538 22.16 15:01 Phase I Tin Hina 10 20,000 24.24 4.5:1 Phase II Tarkint Est 10 17,436 25.87 5.7:1 Phase I and II TOTAL 10 49,974 24.29 - 32
  32. 32. Tilemsi Exploration Program Permit Drilling # of Holes and Total Resource Average GradeSTATUS Target Name Drilled Surface Name Program Meters Drilled Estimate (P₂O₅) Tin Hina 6.75 km² 141 holes totalling 1,717m 1.4m @ 24.2% Tilemsi Phase I 32.6Mt Alfatchafa 6.7 km² 128 holes totalling 3,218m 0.9m @ 22.0% COMPLETED 5 km² but holes were Tin Siriden drilled along 3.7 km of line 48 holes drilled over 11.3 holes were drilled Tarkint Est Phase II Chemanaguel 12.17 km² these 3 targets totalling 17.4 Mt 25.87% along 9.1 km of line 608m Tagit Holes were drilled along NOuarane TOTAL Phases I and II 25.62 km² 317 holes, totalling 5,543m 50 Mt 24.30% Chemanaguel n.a n.a Tarkint Est 55 km² 198 holes totalling 2,970 m Tin Siriden n.a n.a Phase III Alfatchafa 13.2 km² 125 holes totalling 1,875m n.a n.a PLANNED Tilemsi Historical samples* Tin Hina 128 holes totalling 1,920 m 1- 1.15m @ 26% 23.4 km² n.a Ader Foul Ader Foul 180 holes totalling 2,700 m n.a Historical samples* Chemanaguel n.a 0.60-1.25m @ 28% Tarkint Est Phase IV 55 km² 375 holes totalling 5,625m Tin Siriden n.a n.a 33 * Historical results have not been confirmed
  33. 33. About Mali Despite the current political crisis in Mali, GQ maintains an office in Bamako and plans to resume work on the ground as soon as the situation permits. Mali has a twenty-year history of democratic rule and expectations are that this tradition will continue. LOCATION GEOLOGY INVESTMENT CLIMATE • Located in the heart of • Favorable geology • September 3, 2012 West Africa dominated by the Mali Minister of Mines • Vast landlocked Birimian gold belt invited GQ to formally country 1.2m km² • Several operating gold reaffirms the • 14.5 million people mines in Mali incl. government’s support Endeavour, IAMGold… to the Tilemsi project. • Well connected to other West African • Third largest gold • Amongst top sub- nations (paved roads producer in Africa Saharan Africa and rail) and major • Large phosphate performers on the maritime hubs of occurrences in World Bank’s ‘Doing Abidjan and Dakar northeastern Mali Business Survey’ 2012 known since 1927-35 (IFDC) 34
  34. 34. Mali Mineral Policy Mali mineral law is based on the French civil law. The mining code was revised in 2012. • Exclusive right to carry out prospecting activities EXPLORATION LICENSE • Valid for a period of 3 months (Autorisation d’Exploration) • Renewable once for 3 months • Awarded for 3 years PROSPECTING LICENSE • Covers 8 km² (Autorisation de Prospection) • Renewable once for same period RESEARCH PERMIT • Valid for specified commodities (called “Arrêté”) • Granted for 3 years (Permis de Recherche) • Renewable twice for an additional 2 years each time • Granted for 30 years MINING PERMIT • Renewable for 10 years each time, until depletion of the (Permis d’Exploitation) ore reserves 35
  35. 35. Management Bios Joel Jeangrand Mr. Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the natural resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and President, CEO and CEO of Pan American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as VP Corporate Director Development of Spur Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in China. He also spent 11 years in roles of increasing responsibility with the Eramet Group and worked in locations such France, Hong Kong and Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver (2005), and earned a Bachelor of Commerce (equivalent) from Ecole Supérieure de Commerce de Toulon, France (1989). Jay Hosanee Mr. Hosanee is a General Certified Accountant who brings over 20 years of senior management experience in corporate finance, auditing and internal control. Prior to joining Great Quest, he held the position of CFO at Mineral Hill and Chief Financial Officer Golden Dawn Minerals Inc.. His international experience include multi-currency group consolidation, overseeing financial reporting and regulatory compliance of several public listed companies. He also held the position of CFO at Loita Group, an investment banking firm focused on Africa. This role gave him tremendous exposure to sub-Saharan markets. Mr. Hosanee is fluent in French and holds a CGA qualification as well as an Internal Auditor certification. Mohammed Bouhsane Mr. Bouhsane brings 20 years of experience in project management and engineering in the Moroccan mining, hydrometallurgical, and metallurgy industries. He spent most of his time at a mining subsidiary of the ONA Group, Chief Operating Officer where he served as project director and project manager of two major projects. Most recently, Mr. Bouhsane was Project Manager at Nareva Holding, managing construction and financing of an irrigation network. Mohammed is a member of the Quebec Order of Engineers. Candice Font Ms. Candice Font comes to GQ with a wealth of experience working in Africa. As a regional manager for Africa Investor, a specialized publication focused on business in Africa, Ms. Font was based in Abidjan, Cote d’Ivoire and Libreville, Investor Relations Gabon from 2008 to 2010. Between 2005 and 2008, she worked as a project manager producing business reports on and Communications the growth opportunities in emerging countries such as Russia, Nigeria, and Qatar. Prior to joining Great Quest, Ms. Font worked in Investor Relations at Silver Bull Resources, Inc. perfecting her expertise in streamlining information flow, cultivating relationships with stakeholders and enhancing companies public profiles. She holds a Bachelors degree in International Business from the University of Plymouth (UK) and is fluent in English and French. 36
  36. 36. Directors BiosJohn A Clarke Mr. Clarke brings considerable experience in exploration, acquisition and development in the gold mining sector in Africa. He has held roles as Vice Chairman and CEO of Nevsun Resources and Executive Director of Ashanti Goldfields Company Ltd. HeChairman holds B.Sc. in metallurgy from University College Cardiff, a Ph.D. in metallurgy from Cambridge University and MBA from Middlesex Polytechnic.Joel Jeangrand Mr. Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the natural resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and CEO of PanDirector American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as VP Corporate Development of Spur Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in China. He also spent 11 years in roles of increasing responsibility with the Eramet Group and worked in locations such as Gabon, Paris, Hong Kong and Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver (2005), and earned a Bachelor of Commerce (equivalent) from Ecole Superieure de Commerce de Toulon, France (1989).Victor Jones Mr. Jones has over 30 years of experience in senior executive and board positions in public mineral exploration and technology companies. He has been active on projects across North America and Africa on financings and JV and acquisition negotiations.Director Mr. Jones received both his B.Sc and MBA from McGill University.Ehud Levy Mr. Levy is a phosphate manufacturing industry consultant, based in Israel. Ehud formed his consulting firm following a 30- year career in Israel with Bateman Engineering and Rotem. At Bateman, he was the managing director of the chemicalDirector technologies, directing project initiation and new processes for sophisticated applications of phosphates.Gordon Peeling Mr. Peeling has been the president of Mining Association of Canada (MAC) since 1997 and has over 30 years of mining experience in the public and private sectors. Prior to MAC, he served as Vice President at the International Council on MetalsDirector and the Environment and Director General at both the Mineral Commodities Branch and Mineral Strategy Branch at Natural Resources Canada.Jed Richardson Mr. Richardson graduated from University of Toronto with B.A.Sc. in mineral and geological engineering. He worked for Alcan as an engineer, and RBC and Cormark as research analyst. He is currently a director and the VP Corporate Development ofDirector Verde Potash (formerly Amazon Mining). Jed is the founding principal of Javelin Partners, consulting firm for junior resource companies.David Shaw Mr. Shaw has worked both in the technical and financial communities in the resource industry. He initiated and developed Resource Research Group at Charlton Securities, worked as Senior Mining Analyst at Yorkton Securities and as a technicalDirector expert at Chevron Resources. He is well connected within European financial institutions and the mining sector. 37
  37. 37. Great Quest Comparables 52-week Ore Resources Stock Share 3m Avg Market Currency Project Stage Project Location M&I Company Ticker Price High Low Vol Cap (m) Total Grade P₂O₅ (Mt) Aguia Resources Ltd AGR:ASX AUD 0.16 0.58 0.12 43,333 $20.15 Drilling Brazil – 21.3 4.6% Arianne Resources Inc DAN:TSXV CAD 1.05 1.44 0.80 82,220 $71.23 Pre-Feas Completed Canada 347.7 462.0 5.5%-6.5% Celamin Holdings CNL:ASX AUS 0.15 0.20 0.09 60,825 $22.85 Drilling Tunisia Algeria 37 – 21% Eagle Star Minerals Corp EGE:TSXV CAD 0.10 0.18 0.07 110,711 $6.07 Drilling Brazil – – – Great Quest Metals Ltd GQ:TSXV CAD 0.53 3.71 0.43 17,755 $22.96 PEA Completed Mali – 50.0 24.3%Legend International Holding LGDI:OTC USD 0.07 0.20 0.06 52,924 $17.18 Feasibility Completed Australia 202.8 516.1 14%-15% MBAC Fertilizer Corp MBC:TSX CAD 3.62 3.75 2.50 72,252 $428.61 Production Target 2012 Brazil 58.8 119.0 5.01%-5.27% Minbos Resources Ltd MNB:ASX AUD 0.12 0.29 0.12 55,007 $15.06 Scoping Study Underway Angola, DRC 340 370.0 12.20% Minemarkers Ltd MAK:ASX AUD 0.18 0.37 0.13 270,899 $42.03 Pre-Feas Completed Australia 1552 1552 11.6% Montero MON:TSXV CAD 0.13 0.12 0.23 65,000 $6.84 PEA Completed South Africa 32.8 7.2% Plains Creek Phosphate PCP: TSXV CAD 0.01 0.03 0.02 493,406 $3.88 Pre-Feas Completed Guinea Bissau 83.8 128.0 29.9-30.1% Rio Verde Minerals RVD:TSX CAD 0.39 0.55 0.18 116,758 $47.42 Scoping Study Underway Brazil 1.9 1.9 11.7%-20.3% Rum Jungle Resources Ltd RUM:ASX AUD 0.24 0.41 0.19 314,464 $49.88 Drilling Australia 13 13.0 15.0% Stonegate Agricom Ltd ST:OTC CAD 0.53 0.90 0.32 25,666 $76.95 Pre-Feas Completed Peru, US 74 376.3 9%-30.6% Strata Minerals SMP:TSXV CAD 0.08 0.13 0.05 23,972 $5.12 Drilling Australia – – – Sunkar Resources Plc SKR:LSE GBP 0.03 0.12 0.03 295,140 £5.29 Feas. Study Underway Kazakhstan 293 475.3 10.5%UCL Resources - Minemaker JV UCL:ASX AUD 0.16 0.37 0.12 23,533 $16.29 DFS nearing completion Australia, Namibia 1828 1,832.0 18.9% Sources: Yahoo Finance, Capital IQ and Company Reports As of December 5, 2012 DFS: Definitive Feasibility Study; PEA: Preliminary Economic Assessment 38
  38. 38. Notes 39
  39. 39. Great Quest Metals Ltd IR Candice Font TSX-V: GQ Tel +1 604.689.2882 Suite 515, 475 Howe Street Toll Free 1.877.325.3838 Vancouver, BC, V6C 2B3 Fax +1 604.684.5854 WWW.GREATQUEST.COM Email 40