2. This presentation contains certain “forward-looking statements” and “forward-looking information” under applicable securities laws.
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward-looking
statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, and
other similar words, or statements that certain events or conditions “may” or “will” occur. Forward looking information may include,
but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and
their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital,
operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the
realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government
regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title
disputes or claims, and limitations of insurance coverage. Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking
statements. Many of these assumptions are based on factors and events that are not within the control of the Corporation and there is
no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such
forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled
“Risk Factors” in the Corporation’s annual information form dated March 29, 2010. Although the Corporation has attempted to identify
important factors that could cause actual actions, events or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances
or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to
place undue reliance on forward-looking statements.
Unless otherwise stated, the information contained in this presentation is as of November 19, 2010. Unless otherwise stated, all dollars
are US$.
2
Forward Looking Statements
3. • Toronto Venture Exchange listed: IZN
• Stable Countries of Operations
• Peru – Condestable Mine (Cu/Ag)
• Spain -Aguas Tenidas (Cu/Zn/Pb/Ag)
• 2010 Metal Production
• 99,180,000 lbs Cu
• 55,100,000 lbs Zn
• Consolidated Reserves 29Mt+
• More than 2,000 employees and contract
workers worldwide
• Strong management and operations teams
• Excellent environmental, social and safety record
• Headquartered in Toronto, with offices in Lima and
Seville
3
Corporate Summary
4. Common Shares 360.1M
Options 10.8M
Warrants1, 2 58.7M
Fully Diluted 429.6M
(as at Nov 19, 2010)
Major Shareholders
Trafigura Beheer B.V 49.3%
Hedgehog Capital LLC 10.7%
Carmignac Gestion 3.5%
4
IZN three month chart
52 week range $0.39-$0.80
Market Cap Nov 18 $280M
Average daily volume (3 mo) 543,192
Balance Sheet (in US$ '000s) Sept 30, 2010
Cash 11,422
Restricted Cash 3,905
Total Assets 534,960
Long Term Debt 127,424
Convertible Debenture 25,999
Shareholder's Equity 250,498
(All other figures on this page in Cdn$)
Capital Structure
1 Warrants:
- 44.6M warrants exercisable at $0.56 expiring December 31, 2011
- 7.6M warrants exercisable at $1.30 expiring June 30, 2013.
2 $25M convertible debenture, bearing interest at 7%, payable quarterly in arrears and mature on December 31, 2011.
Exercise of warrants reduces remainder payable.
5. 5
Analyst Coverage
Institution Analyst
BMO David Cotterell
Canaccord Capital Corp. Orest Wowkodaw
Cormark Securities Inc. Cliff Hale-Sanders
GMP Securities David Charles
Macquarie Capital Markets Canada Ltd Pierre Vaillancourt
Paradigm Capital Jeff Woolley
Versant Partners Anthona Curic
Wellington West Capital Markets Steve Parsons
6. 6
Source: Bloomberg as at November 8, 2010; NAVs based on research analyst consensus.
Price to Net Asset Value Comparison
0.00x
0.20x
0.40x
0.60x
0.80x
1.00x
1.20x
1.40x
Candente
Duluth
Franconia
Amerigo
Mirabela
PolyMet
DeveloperAverage
Iberian
Norsemont
Taseko
Augusta
Baja
Mercator
QuadraFNX
Anvil
CopperMountain
Farallon
ProducerAverage
Inmet
Breakwater
Lundin
ImperialMetals
HudBay
NevadaCopper
Capstone
Katanga
FirstQuantum
Teck
Equinox
Price/NetAssetValue
Average Producer Developer
7. 7
Iberian – Strong Copper Producer
Source: Research analyst consensus
2012E Production 2013E Production
2011E Production
0
50
100
150
200
250
300
350
400
BWR
MNB
FAN
GMI
CUM
ML
ARG
III
AVM
CS
TKO
HBM
IZN
IMN
LUN
KAT
QUX
EQN
FM
TCK
2011ECuProduction(kt)
Producer Developer
0
50
100
150
200
250
300
350
400
BWR
MNB
FAN
GMI
III
ML
ARG
CS
CUM
TKO
IZN
AVM
HBM
IMN
LUN
KAT
QUX
EQN
FM
TCK
2012ECuProduction(kt)
Producer Developer
0
50
100
150
200
250
300
350
400
BWR
FAN
MNB
GMI
III
ARG
ML
TKO
CUM
HBM
CS
AVM
IZN
IMN
LUN
KAT
QUX
EQN
FM
TCK
2013ECuProduction(kt)
Producer Developer
Year Gold Silver Copper Zinc Lead
2011E $1,281.91 $20.09 $3.59 $1.07 $1.00
2012E $1,256.64 $19.54 $3.41 $1.08 $0.98
2013E $1,145.29 $17.73 $3.14 $1.04 $0.88
8. 8
Source: Research analyst consensus
Iberian – Strong in Peer Group (Cu Eq)
2012E Production 2013E Production
2011E Production
0
50
100
150
200
250
300
350
400
450
500
550
600
GMI
III
FAN
ARG
TKO
BWR
CUM
AVM
ML
CS
MNB
IZN
HBM
IMN
KAT
EQN
QUX
LUN
FM
TCK
2013ECuEq.Production(kt)
Producer Developer
0
50
100
150
200
250
300
350
400
450
500
550
600
650
700
GMI
FAN
ARG
III
CUM
ML
CS
BWR
AVM
MNB
TKO
IZN
HBM
IMN
KAT
EQN
LUN
QUX
FM
TCK
2012ECuEq.Production(kt)
Producer Developer
0
50
100
150
200
250
300
350
400
450
500
550
600
650
700
GMI
CUM
ARG
FAN
AVM
TKO
ML
III
MNB
BWR
CS
IZN
HBM
KAT
IMN
EQN
LUN
QUX
FM
TCK
2011ECuEq.Production(kt)
Producer Developer
Year Gold Silver Copper Zinc Lead
2011E $1,281.91 $20.09 $3.59 $1.07 $1.00
2012E $1,256.64 $19.54 $3.41 $1.08 $0.98
2013E $1,145.29 $17.73 $3.14 $1.04 $0.88
9. • Commercial Production at Aguas Tenidas (October 2009)
• Additional reagent permits for Aguas Tenidas (February 2010)
• Raul Mine lease and royalty purchase (March 2010)
• Completed $55M debt refinancing at Condestable (March 2010)
• Completed $50M debt financing at Aguas Tenidas (April 2010)
• Received €10,093,472 Grant from Junta De Andalucia (June 2010)
• Completed 30% expansion of Aguas Tenidas Plant – now at 2.2mtpa or 6,000 tpd
(September 2010)
• Drill program initiated at Condestable (September 2010)
• Condestable Mine awarded safest underground mine in Peru (October 2010)
9
2009 & 2010 Accomplishments
10. 10
• Two mines – Condestable and Raul.
• 90km from Lima, with excellent access to
infrastructure
• 6,000tpd plant capacity
• 2010 Estimated Production
⁼ 51,794,000lbs Copper
⁼ 16,800oz Gold
⁼ 200,000oz Silver
• 2010 cash operating cost of US$ 1.03 per payable
pound of copper.
• Low direct costs due to minimal ground support
and no required backfilling
• Acquired in early 2008, IZN holds 98.7%
ownership of Compania Minera Condestable
Condestable
Mine
Lima
Condestable Mine – Excellent Infrastructure
12. • 5th largest copper producer in Peru
• 2009 Processed – 2,165,000t, with
1.21% Cu head grade
• 2009 Produced – 95,339 DMT of
copper concentrate with 25% Cu
grade
• Optimized at 6000+ tonnes
processed per day
• Low direct costs due to minimal ground
support and no required backfilling
• Historically replaced reserves each year
• Sustaining Capex US$ 5M
• 3 year collective labour agreement signed
January 2009
• Awarded 2009 & 2010 safest underground
mine
• Raul lease and royalty purchased (March
2010)
12
Key Facts
13. 13
Geology
Raul Mine
Condestable Mine
Copper mineralization at Condestable
occurs in stratiform sulphide-rich
replacement bodies (mantos) and
crosscutting sulphide bearing quartz
veins
15. 15
Extracted from SRK Consulting 43-101 Technical Report dated January 2009
Mineral Resources as at June 30, 2008
Classification 000's tonnes % Copper
Measured 5,246 1.76
Indicated 2,433 1.82
Total Measured & Indicated 7,679 1.77
Inferred 8,806 1.24
Proven and Probable Reserves as at June 30, 2008
000's tonnes % Copper
Proven 6,696 1.27
Probable 3,120 1.3
Total Proven & Probable 9,816 1.28
Stocks (Proven) 262 0.8
Total for Mining Plan 10,078 1.27
Resources – Strong Record
• Excellent record of resource replacement
• Mine continuously operated for 10+ years
16. 16
RP PRINCIPAL
RP FICO
LV +20
LV -175
LV -55
LV -130
DEEPENING
LV -20
LV -95
LV -215
LV -255
OPEN PIT RAUL
KARINA VEIN
Condestable - Deepening
17. Condestable - Guidance
17
Production Unit 2010
Ore Processed t 2,200,000
Concentrate DMT 95,000
Contained copper t 23,500
Fine gold oz 16,800
Fine silver oz 200,000
• Average head grade of approximately 1.17% Cu, and recovery rate of
91% per year.
• 2010 cash operating costs of US$ 1.03 per payable pound of copper.
*Per Q2 2010
18. 18
Near mine exploration prospects
N
Pacifico Sur
80 Ha
Cerro Pacay
210 Ha
Cerro Perico
175 Ha
Vinchos Sur
85 Ha
San Marcos
Condestable10
New prospects
MALA
N
Condestable
Mine
Future Exploration
Targets
VMS & IOCG Exploration Prospects
5km
19. 19
Exploration - Cerro Pacay (IOCG)
N SNros.174-175
Nros:104-126 Cu 0.73%
Nros: 1684 – 1699 Cu 0.91%
Sample No. 174
Vein – fault de 0.3 m, 230º/80NW,
Boxes of diorita
Cu: 7.73%
Au: 12.1 g/t
Ag: 18.25 ppm
Sample No. 175
Structure 340ºN, cataclastita,
with quartz veins of 0.1m
Cu: 7.93%
Au: 6.07 g/t
Ag: 19.4 ppm
Potential Exploration (Oct – Dec 2010)
Scale1:2,000 210 Ha
Trenching and geochemical sampling
Nros:1648-1656 Cu 1.14%
20. Capex/Exploration
20
Year 2010 (000s USD)
Capex
Sustaining 1,500
Plant Operation 466
Mine Operation 753
Others 281
Special Projects 1,540
Crushing Building extension 790
Courier Project 750
Exploration 1,700
Condestable 10 950
San Marcos 750
TOTAL 4,740
For 2010 Capex and exploration at Condestable, the following budgets have been
approved, with exploration of US$ 1.7 million to generally consist of surface sampling,
geophysics and contracted surface diamond drilling at Condestable 10 and San Marcos.
21. • Located in the Andalucia
province of Huelva in
southwest Spain.
• 80km from Huelva, 120 km
from Seville.
• Part of a roughly east-west
striking chain of VMS deposits
which includes:
21
Aguas Tenidas – in Prolific Iberian Pyrite Belt
Aguas Tenidas
Rio Tinto
Huelva
Cadiz
Seville
- Rio Tinto (EMED Mining)
- Las Cruces (INMET Mining)
- Aznalcollar (Boliden)
- Aljustrel (Almina)
- Neves Corvo (Lundin Mining)
- La Zarza (Antofagasta & Ormond)
Aznalcollar
Las Cruces
La Zarza
Algecira
22. 22
Mine & Processing Infrastructure in Place
Paste Plant
Processing Plant
Orange Farm
Main Offices
Tailings Dam
Santa Eulalia Ramp
Santa Barbara Ramp
23. • Fully Permitted
• Commercial production declared October 2009
• Two types of ore: cupriferous & polymetallic
• 2010 Metal Production
• 46,284,000lbs Copper
• 55,100,000lbs Zinc
• 580,000oz Silver
• 30% Expansion Complete – now operating at
2.2mtpa (6,000tpd)
• 2010 operating costs per payable pound of
copper of US$ 2.05, with Q4 costs at US$ 1.70.
• New processing plant & low debt
• Exploration potential on strike and in vicinity
• JV with Cadillac Ventures on strike with mine
23
Key Facts
27. 27
Reserve
Category
Tonnes
Mt
Cu % Zn % Pb % Ag g/t Au g/t
NSR
Euro/t
Cupriferous
Proven 2.41 2.16 0.80 0.17 21.90 0.30 70.90
Probable 6.40 2.32 0.99 0.24 28.20 0.43 77.80
TOTAL 8.81 2.27 0.94 0.22 26.50 0.40 75.90
Polymetallic
Proven 2.44 0.87 6.48 1.86 62.90 0.87 82.20
Probable 7.96 1.28 6.48 1.98 70.80 0.78 101.50
TOTAL 10.40 1.19 6.48 1.95 69.00 0.80 97.00
Aguas Tenidas – Proven and Probable Mineral Reserves at 30th June, 2009
Reserve Category Mt
Proven 4.85
Probable 14.36
Total 19.21
Reserves – Multi year mine life
Extractedfrom Report 43-101 Technical Report by Adam Wheeler, 11 September 2009
28. 28
X=690380
Long section view of Aguas Tenidas Resource Limits from Adam Wheeler 43-101
Long Section – Potential to the West
Inferred 10.6MT Proven & Probable 19MT
500m
29. 29
Production Unit 2010
Ore Processed t 1.7-1.8M
Copper concentrate DMT 92,000
Zinc concentrate DMT 52,000
Lead concentrate DMT -
Contained copper t 21,000
Contained zinc t 25,000
Contained lead t -
Fine silver oz 580,000
• Average head grade (copper ore) of approximately 2.0% Cu, and
recovery rate of 82% per year.
• Average head grade (polymetallic ore) of approximately 5.9% Zn and
recovery of 65-70%; head grade of approximately 1.0% Cu and
recovery of 40-50%.
• 2010 Operating costs per payable pound of copper of US$ 2.05, with
Q4 costs at US$ 1.70.
Aguas Tenidas - Guidance
*Per Q2 2010
30. Metal Production
30
9,879
22,919
29,304 29,873
28,170
26,835 27,438 27,923
24,037
8,3244,530 6,909 7,207 8,035
13,944 16,092 15,532 19,587
9,436
8,233
33,220
42,643
39,660
46,435
70,125 74,973
77,448
91,126
43,860
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
t
Metal Production Life-of-Mine
(tonnes)
Copper Lead Zinc
Basedon Report 43-101 Technical Report by Adam Wheeler, 11 September 2009
31. 31
Year 2010 (000s USD)
Capex
Sustaining 23,017
Plant Projects and equipment 10,187
Mine Development 6,549
Mine Equipment 2,339
Mine projects 480
Buildings 399
Communications infrastructure 336
Licenses 2,597
Other 131
Special - Expansion 20,730
Mine development 6,366
Mine equipment 3,842
Plant projects and equipment 10,522
Exploration 308
Surface diamond core drilling 308
TOTAL 44,055
• For 2010, higher
Capex due to plant
and tailings
expansion projects
• 2011+ sustaining
Capex US$ 20M+
Capex 2010
32. 32
Summary
CMC
• On Track and on Plan
• Exploration Potential
• Future Growth
• Excellent Management
MATSA
• Now operating at 2.2mtpa
• Strong management team
• Strong underground drilling results
• Well positioned for the future
35. A-2
The cornerstone of Iberian's Hedging Policy is the protection of the Company's assets. Management,
reporting to the Hedging Committee, continually reviews the markets in which the Company trades, and
depending on circumstances, decides if any additional or altered hedging is appropriate to enhance the
future cash flow of the Company’s operations while respecting protection of the Company’s assets.
The hedging program for Condestable Mine is fixed and in accordance with the terms of its syndicated loan.
As of June 30, 2010, copper production at the Condestable Mine has been hedged as follows:
Hedging
Metal Period Contract Type Volume Unit
Strike price per
unit (U.S.$) $/lb
Copper July-December 2010 Forward 10,375 Fine metric t 4,419 2.00
Copper 2011 Forward 20,625 Fine metric t 3,494 1.59
Copper January 2012 Forward 1,750 Fine metric t 3,408 1.55
Copper February-December 2012 Put options purchased 5,500 Fine metric t 6,500 2.95
Copper February-December 2012 Call options sold 5,500 Fine metric t 8,760 3.97
Copper January-March 2013 Put options purchased 1,500 Fine metric t 6,500 2.95
Copper January-March 2013 Call options sold 1,500 Fine metric t 8,760 3.97
Gold July-December 2010 Forward 1,200 Fine ounces 741.50
Gold 2011 Forward 2,400 Fine ounces 741.50
36. The hedging program for Aguas Tenidas Mine, as of June 30, 2010 is as follows:
A-3
Hedging
Metal Period Contract Type Volume Unit
Strike price per
unit (U.S.$) $/lb
Copper July-December 2010 Forward 1,279 Fine metric t 5,724 2.60
Copper July-December 2010 Call options sold 6,100 Fine metric t 4,200 1.91
Copper 2011 Forward 19,602 Fine metric t 4,865 2.21
Copper 2012 Forward 17,496 Fine metric t 7,390 3.35
Copper January-March 2013 Forward 1,800 Fine metric t 7,319 3.32
Zinc July-December 2010 Forward 1,835 Fine metric t 1,630 0.74
Zinc July-December 2010 Call options sold 4,900 Fine metric t 1,500 0.68
Zinc 2011 Forward 16,848 Fine metric t 1,601 0.73
Zinc 2012 Forward 13,446 Fine metric t 2,042 0.93
Zinc January-March 2013 Forward 1,125 Fine metric t 2,272 1.03
37. Condestable concessions
Raul concessions
Local exploration concessions
District exploration concessions
Concessions Number Size (Ha)
Raul concessions 43 6,600
Condestable concessions 3 1,960
Local exploration concessions 16 4,600
District exploration concessions 47 33,560
Total 109 46,720
A-4
5 KM
5KM
Iberian has exploration planned for 2010,
on concessions surrounding the mine and
regionally.
Condestable - Exploration
38. A-5
Resource Category Mt Cu (%) Zn (%) Pb (%)
Ag
(g/t)
Au
(g/t)
Cupriferous
Measured 5.40 1.9 0.9 0.2 23.0 0.4
Indicated 6.76 2.4 1.1 0.3 32.1 0.5
Total 12.16 2.2 1.0 0.2 28.1 0.4
Polymetallic
Measured 5.39 0.6 6.7 1.8 56.3 0.8
Indicated 7.13 1.3 7.8 2.3 80.1 0.8
Total 12.52 1.0 7.3 2.1 69.8 0.8
Stockworks
Measured 0.93 2.0 0.3 0.1 9.4 0.1
Indicated 1.89 1.7 0.1 0.1 6.1 0.1
Total 2.82 1.8 0.2 0.1 7.2 0.1
Aguas Tenidas – Measured and Indicated Mineral Resources at 30th June, 2009
Extractedfrom Report 43-101 Technical Report by Adam Wheeler, 11 September 2009
Combined Resources
Class Mt
Measured 11.72
Indicated 15.78
Total 27.50
Resources – 9 years + growing
39. A-6
Aguas Tenidas – Inferred Mineral Resources at 30th June, 2009
Total Inferred Resources
Mt 10.62
Class Mt Cu % Zn % Pb % Ag g/t Au g/t
Cupriferous
Main Zone 1.34 3.52 0.61 0.08 23.00 0.44
Western Extension 6.25 1.99 1.51 0.50 37.70 0.67
Total 7.59 2.26 1.35 0.42 35.10 0.63
Polymetallic
Main Zone 0.87 1.24 10.33 2.63 111.20 0.88
Western Extension 1.94 1.64 4.00 1.31 64.70 0.56
Total 2.81 1.52 5.96 1.72 79.10 0.66
Stockworks
690800-691060 0.22 1.38 0.05 0.02 4.60 0.03
Inferred Resources
Extractedfrom Report 43-101 Technical Report by Adam Wheeler, 11 September 2009
40. A-7
Aguas Tenidas - Exploration
• The properties, totalling 232 km2 are in
various stages of exploration and many are
contiguous with the Aguas Tenidas
property.
• Located on the Iberian Pyrite Belt- one of
the largest concentrations of sulphides in
the earth’s crust, the area contains eight
known massive sulphide deposits larger
than 100mt along with many smaller
deposits
• By expending $3 million in exploration
expenditures within two years, Cadillac
may earn a 90% participating interest in
the properties.
41. Norman Brewster P.Geo, Chairman of the Board, Director – Norman is a geologist who
joined IZN in 2002. He also sits on the board of Cadillac Ventures Inc.
Philippe Blavier, Director – Philippe is Chairman of the Company’s Audit Committee
and a member of the Remuneration Committee of the Company. He has extensive
experience at BNP Paribas, where he was Head of Corporate & Investment Banking
and Member of the Executive Committee.
Jesus Fernandez, Director – Jesus has been part of the Trafigura team since 2004 as
Manager of the Corporate Finance team, with an emphasis on mining and
downstream oil project investments. He joined IZN’s board in 2008.
L. Jack Gunter, P.Eng, FIMM, Director – Jack has over 45 years experience in the mining
industry. He has worked previously with Rio Tinto and Phelps Dodge, and also sits
on the board of Galantas Gold Corp.
Murray John, Director – Murray is an engineer with more than 25 years experience in
the resource industry. He is currently the President & CEO of Dundee Resources.
Jeremy Weir, Director – Jeremy works as Executive Director and Manager at Trafigura,
where he has also been head of the metals derivatives trading structured products
and risk management departments.
Daniel Vanin, Director – Daniel is the President and CEO of Iberian.
A-8
Board of Directors
42. Daniel Vanin – P.Eng, President & CEO – Daniel has worked in the mining industry for over 30 years and has strong
international mine development and management skills with extensive experience in Canada, South
America, Africa and Russia. He is a professional mining engineer and graduated from McGill University,
Montreal, in 1975. Most recently, Daniel was Executive VP & Chief Operating Officer at High River Gold.
Prior to that, he was Chief Executive Officer of RBG Resources Plc, in Bolivia, where he managed all
operations, project development and construction at the Vinto smelter and Huanuni tin mine.
Jeff Hillis, CFO - Jeff joined Iberian in June 2009. He has worked in the mining industry for over 5 years in progressively
more senior finance and reporting positions. He most recently served as CFO of a TSX listed mining
company based in Toronto. Jeffrey is a Chartered Accountant (Ontario, 2001). He worked for three years
in the audit group of Ernst & Young with major clients in the mining industry.
Johny Orihuela Avila, Operations Manager, Condestable Mine - Johny is a Mining Engineer, graduated from
UniversidadNacional de Ingeniería in 1990. With a postgraduate degree in Mining Management from
UniversidadSan Ignacio de Loyola. With extensive experience in the mining industry having worked with
numerous companies including Perubar, Iscaycruz and Exsa, he has worked as a General Superintendent
of Mines at Volcan and General Superintendent at Companía Minera Atacocha. Johny has Operations
Manager at Condestable since November 2005.
Robert L. Byrd, General Manager, Aguas Tenidas Mine - Bob joined Iberian in April of 2010, and has over 30 years in
the mining industry in both base and precious metals, principally in Latin America. He is a graduate of the
Colorado School of Mines, and Boston University. Most recently, Bob was President and General
Manager for Pan American Silver in Bolivia. Prior to that, he held positions with Breakwater Resources Ltd
as General Manager, El Mochito in Honduras, through Vice-President, Latin America overseeing
operations in Honduras, Nicaragua and Chile. Prior to joining Breakwater Bob was employed by ASARCO
at both the Southwest Mining Department, and the Tennessee Mines Division.
A-9
Management
