130314_Chicoutimi Conference FINAL

7/28/2019 130314_Chicoutimi Conference FINAL

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Andre Gauthier

Profils de carrire

Chicoutimi

Exploration minire travers le monde;gnration, dveloppement et financement

de projets

Andre Gauthier

Le 15 Mars 2013


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Pays visites


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AGENDA

Explorations: 1975 -2013

Decouvertes: 1975 - 2013

Production Miniere

Prix des Metaux et taux de change Geopolitique

Financement Minier

Nouvelles Economies

Evolution du Risque


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Depenses Dexploration

1975-2010


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Monde 89-12

Worldwide Exploration Budgets byCompany Type, 1999-2009(as a percentage of worldwide exploration)

Significant Exploration-Related

Financings by Junior Companies

Budgets*, 2008-2012 (US$ billion)

Estimated Global Nonferrous Exploration Budget Totals1989-2012 (US$ billion)


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Type de Compagnies

1998-2010 (US$ mil)


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Type Stage

By objective, 2001-2008(1,912 companies with a total budget of $12.6 bill.)

Por stage, 2001-2008(as a percentage of world exploration)


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Base-metal et Or $Mil

YearsBase

metalsGold Total

1950s 3 0.5 3.5

1960s 7.2 1.3 8.5

1970s 9.3 2.7 12

1980s 7.3 16.7 24

1990s 10 18 28

2000s 32 25 57

2010s 26 24 50

Total 94.98 88.64 183.62


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Top Destinations for Nonferrous

Exploration, 2012

Source: Metals Economics Group


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Number of deposits found each year-

by size: 1975-2011

Source: Minex Consulting


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Depenses Dexploration Or Onces Trouvees:

1950-2010



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Couts de Decouvertes Auriferes

1950 - 2010



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Decouverte et Production Or Ratio

1950-2010



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Depots decouverts Annuel commodite

1975-2011



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Decouvertes Majeures

1975-2012


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Decouvertes Auriferes dans le monde



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Decouvertes Annuelles localisation

1975 -2011



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Onzes trouvees par region

1950-2010



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Decouvertes Annuelles type de compagnie

1975-2011


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Production Miniere Mondiale

1950-2008

In 2008, there were in the world more than 1.4 billion tons of metals, twice the amount of the late

1970s and more than seven times more than in 1950.

Since the mid-twentieth century, there have been 40 billion tons of metals: aluminum, arsenic,

cadmium, chromium, copper, gold, lead, mercury, nickel and steel.


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Production Aurifere

Gold production growth exceeded population growth from the 1840s to 1940s

It declined after WWII for almost 50 years, but started up again in 1989.

Maybe the long term equilibrium point is about 3/4 ounce per person ?


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GDP 2011- Evolution OCDE

Second MileniumIncome trend growth thresholds

Commodity demand intensity correlates with

growth thresholds


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Production Miniere Mondiale

Snap shot 2006


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Mining Industry Value


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Activite Miniere Globale 2011


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Production by Deposit Type


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US Dollar Price


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0.000

0.200

0.400

0.600

0.800

1.0001.200

1.400

1.600

1.800

1970

1972

1974

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

ZINC US$/lb

0.000

5.000

10.000

15.000

20.000

25.00030.000

35.000

40.000

45.000

1970

1972

1974

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

SILVER US$/Oz.

0.000

0.500

1.000

1.500

2.000

2.500

3.000

3.500

4.000

4.500

1970

1972

1974

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

COPPER US$/lb

0.000

200.000

400.000

600.000

800.000

1,000.000

1,200.000

1,400.000

1,600.000

1,800.000

2,000.000

1970

1972

1974

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

GOLD US$/Oz.tr.

Prix de Metaux Mondial - Evolution


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Indice Prix de Metaux

1948-2012

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

1948

1949

1951

1953

1954

1956

1958

1959

1961

1963

1964

1966

1968

1969

1971

1973

1974

1976

1978

1979

1981

1983

1984

1986

1988

1989

1991

1993

1994

1996

1998

1999

2001

2003

2004

2006

2008

2009

2011

2013

BerlinWallFalls


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Indice Prix de Metaux

1948-2012

Main events table


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Dette Americaine Globale 2011

Total American Debt is USD50 Trillions and GDP

is $16.5 Trillons

The current source of american dollars still being

the money of the next war


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US$ Value

OR vs US$ Euro vs US$


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Robert Mundell et le Chaos du

Changement

"The key initiative that could be taken

to improve the economy would be to

stabilize the exchange rate dollar-

euro"

What would be the winning formula

for today? What advice would you

give to Washington to help reverse

the situation of the moribund U.S.economy?

Economy Nobel Price 1999


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Conclusions

China a vu limportance de lor et sen assure le controle : Production -vente

Speciallement en temps de crise

Haut Risque de Devaluation de US $ , moyen long terme

Or en hausse

Pression pour inflation globale acceleree Crise financiere pas pres de se resorber

Chine et Asie seront plus fort apres la crise

Deviendront la source des financement a risque (venture capital).


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Compagnies listees en bourses

2002 vs. 2008 vs. 2013 majeures et junior

Global Markets at a Glance - December 2008

TSX TSXVTSX &TSXV LSE AIM

LSE &AIM ASX JSE HKEx NYSE

NYSEAlternext SSE PSE BVL Total

Number of Mining Issuers Listed 356 1071 1427 42 174 216 684 55 84 48 68 23 188 Juniors

18 Grandes2649

Quoted Market Cap. (CS Billions) $207.0 $8.7 $215.7 $199.3 $7.9 $207.2 N/A N/A N/A N/A N/A N/A N/A N/A

New Mining Listings 42 96 138 2 7 9 29 2 3 3 5 N/A N/A N/A

Equity Capital Raised* (C$ Billions) $5.2 $3.0 $8.3 S3.9 $1.8 $5.7 $3.1 $0.04 $1.3 $2.9 $0.0 N/A N/A N/A

Number of Deals 213 1382 1595 2 119 121 246 1 1 4 0 N/A N/A N/A

TSX and TSXV, Stock Exch ange websites. Gamah Intern al

TSX- TSX Venture 2002 ASX LSE - AIM JSE NYSE Amex

196 321 44 52 46 16

920 34 _

1116 321 78 52 46 16

Global Markets at a Glance January 2013

TSX TSXVTSX &TSXV LSE AIM

LSE &AIM ASX JSE HKEx NYSE

NYSEAlternext SSE PSE BVL Total

Number of Mining Issuers Listed 356 1218 1574 186 78 264 684 55 84 48 68 23 1817 Juniors28 Majors

2863

Quoted Market Cap. (CS Billions) $207.0 $8.7 $215.7 $199.3 $7.9 $207.2 N/A N/A N/A N/A N/A N/A N/A N/A

New Mining Listings 42 96 138 2 7 9 29 2 3 3 5 N/A N/A N/A

Equity Capital Raised* (C$ Billions) $5.2 $3.0 $8.3 S3.9 $1.8 $5.7 $3.1 $0.04 $1.3 $2.9 $0.0 N/A N/A N/A

Number of Deals 213 1382 1595 2 119 121 246 1 1 4 0 N/A N/A N/A

TSX and TSXV, Stock Exch ange websites. Gamah Intern al


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Capital leve pas Destination (OR)

2008-1H 2011


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Pays visites


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Global Events

Berlin Wall - 1989 Gulf War - 1991

US Crisis - 2008 Euro Crisis - 2010


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National Debt by Country


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Global Impact of Euro Crisis


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Quebec, Separatism


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Comparison Solcialist World Map


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Historical Solcialist World Map


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Leconomie chinois a progresse dramatiquement dans

les derniers 30 ans, et continuera sa marche

China became the world's second-largest economy in 2010 and is likelyto overtake the US around 2025 to become the world's largest economy

C i i Chi i l


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Consommatioin Chinoise et les causes

de cette croissance

*Note: ROW stands for Rest of World and APAC stands for Asia-Pacific

Source: CEIC; CRU; UN; World Steel Association; The Beijing Axis Analysis

*Note: ROW stands for Rest of WorldSource: World Bank; CNBS; CEIC; The Beijing Axis Analysis

Source: CNBS; Deutsche Bank; Morgan Stanley; The Beijing Axis Analysis

China's economy is heading for a soft landing -

more moderate and more sustainable growth

Asia has become a fundamentally important engine ofcapital, trade and commodity consumption worldwide

China has dramatically increased its share of world

consumption of key metals and minerals over the pasttwo decades. The drivers of this trend remain intact


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Plusieurs stages de Developpment


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Importance des pays Asiatiques

In the last decade,Asia has emerged asan attractivedestination forforeign investments -China has attractedthe most inflows

The Asian regionis gradually also

becoming aprominent sourceof OFDI - China's

OFDI stock isexpected to reach

USD 560 billionby 2015


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Croissance de la Demande Chinoise


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Croissance de la Chine

I ti t i i Chi i


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Investissements miniers Chinois

2006- 2012 ( 7 ans )

I t t Gl b l d l Chi R


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Interet Global de la Chine sur Resources

Principales


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Investissements Chinois Details 1


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Investissements Chinois Details 2

E l ti I d t i E l ti Mi i


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1975 2005 Exploration de Surface

1980 - 2013 Requis Environmental

2000 - 2013 Comunautes et la $, participation

2010-2013 Les Governments $ ; Nationalisme

2005 2013 Exploration en profondeur

Evolution Industrie Exploration Miniere

1975 2013

Conclusions Generales


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Financement

Exploration a passe de Majeur a Junior , mas pas plus efficace

Junior pensent Court terme Aucune Approche long terme dans lindusrie

Majeur , tres peu Grass root , donc peu Generation projets

Entreprise de gouvernment peuvent etre tres imortante pour certainesresources

Succes dexploration tres bas compare aux depenses , cout extres deconstruction ( en plus )

Encore plein de potentiel dexploration sure la planete , pres de la surface ,depend des payes Chine , un des potentiel miniers non explore a ce jour etpourtant important producteur minier ( Au, Cu, RE, Pb, Zn,,etcc)


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Prix de metaux ne devraient pas atteidre des extremescomme en 2007 ; Non sustainable ( Capital , Main dOeuvre,materiaux, services ,etc)

Plusieurs depots resteront non-economiques sur la base des

prix des metaux , inutiles de faire faisability , inneficace !!!Mais bon pour Stock market

Prix de metaux se maintiendront pour un bon bout de temps

Quantites de compagnies Junior tres elevees (2500) , trop ,Nombre de compagnies minieres peu en comparaison ( 2000).

RISQUES EXPLORATION MINIERE


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RISQUES EXPLORATION MINIERE

1975 2013

Internal

Technical

Geologie

Geochimie

Metallogenie

Structure

Geophysique

Resources Reserves

Extraction

Financial Financement

Environmental

External

Financier

Taux de change

Taxes et redevances

Marches financiers

Taux dinterets

Cout de main douvres

Couts services, etc Speculation

Politiques

Guerre

Instabilite

Revolte

Comunautes

Rejet

Confusion

130314_Chicoutimi Conference FINAL

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