Green Energy Metals Royalty Co.: TNR Gold Investor Presentation November 2017.
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Transcript of Green Energy Metals Royalty Co.: TNR Gold Investor Presentation November 2017.
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ThePowerofDiscovery
November2017
BecomingaGreenEnergyMetalsRoyaltyCompany
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TSXV:TNR www.tnrgoldcorp.com
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TSXV:TNR www.tnrgoldcorp.com
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TSXV:TNR www.tnrgoldcorp.com
LEADERSHIP
Directors
KirillKlip,MBA,ExecutiveChairman
JohnWisbey,DeputyChairman
MauriceBrooksB.Sc.,FCA(ICAEW)
GregJohnsonB.Sc.
RossThompson
…ourcorporatedirectioncomesfroma
blendofprovencreatorsofenter
prise
valueandtechnicalexpertise…
Management
KirillKlip,MBA–PresidentandCEO
MauriceBrooks–SpecialAdviserStrategicRisk ManagementandInterimCFO
AnthonyKovacs–ChiefOperatingOfficer
NancyLaCouvée–CorporateSecretary
RobertoLara–ManagingDirector(SouthAmerica)
Dr.FrederickBreaks,P.Geo–TechnicalAdviser
LobanovaNatalia–CEOEA,PR,Marketing
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TSXV:TNR www.tnrgoldcorp.com
CORPORATECULTURE
agrowingenergymetalsroyaltycompanywithstrongmanagementownership“
ExperiencedManagementTeam ProjectPortfolioManagement Strategicenergymetalsfocus:lithiumandcopper
Goldandpreciousmetalassets
ProvenBusinessModel Identifyandacquireprojectsatanearlystage
Selectivelyadvanceprojects
UseJVpartnershipstomitigatecostsandrisk
Maximizevalue,minimizesuccesstime
2/3ownershipbyinsidersandmanagement
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TSXV:TNR www.tnrgoldcorp.com
GLOBALASSETSCURRENTHOLDINGS
LosAzules,Argentina
• WorldClassCu-Audeposit
• 0.36%NSRRoyalty
• 100%ownedbyMcEwenMining
ShotgunGold,Alaska
• Porphyrygolddeposit
• Multi-millionozpotential
• Welldefinedmineralizationmodel
InternationalLithiumCorp.(“ILC”)
• TNRspinoutin2011
• TNRholds10.5%equityinterestinILC
• TNRholds1.8%NSRRoyaltyinILC’sMarianaLithiumProject
• Strategicpartnersadvancingfourlithiumprojects
LondonVancouver
SanJuan
Shotgun
LosAzules
Office
Project
ILCLithiumProjectsMariana
Mavis/FairserviceRaleighForgan
Avalonia
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ASSETS►Argentina
TSXV:TNR www.tnrgoldcorp.com
Fina
ncialTim
es
“People are more confident in the future, the economy, in making investments. They are tired of corruption and populism,” Cecilia de Francesca.REUTERS
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ASSETS►LosAzules
Argentina is one of the largest economies in Latin America.
Argentina is currently undergoing an economic transformation and integration into the global economy.
Presidential elections at the end of 2015 led to a significant change in Argentine economic policy.
The results of the mid-term elections in October 2017 prove that the new administration is gaining more support for its economic policies in Argentina.
TSXV:TNR www.tnrgoldcorp.com
US $3.3 B Allocated by the World Bank for the execution of the Country Partnership Strategy with Argentina
McEwenMining
WorldBank
100%ownedbyMcEwenMiningInc.TNRholdsa0.36%NSRroyalty
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LosAzulesranksasoneofthetop2or3worldclassdepositsthatare“forsale”andinalowriskjurisdiction
TNRholdsa0.36%NSRroyalty
“
Note:Mineralresourcesdonothavedemonstratedeconomicviability.
EstimateofMineralResourcesbyType(0.20%Cucut-off)(1)
(1)Technicalreporttitled“NI43-101TechnicalReport–PreliminaryEconomicAssessmentUpdatefortheLosAzulesProject,Argentina,”withaneffectivedateofSeptember1,2017,preparedbyD.Brown,CPEng,M.Bunyard,C.Eng,FAusIMM,B.Davis,FAusIMM,J.Duff,P.Geol,R.Duinker,P.Eng,MBA,J.Farrell,P.Eng,W.Rose,P.E.,K.Seddon,CPEng,R.Sim,P.Geo,allofwhomarequalifiedpersonsandallofwhombutD.BrownandJ.DuffareconsideredindependentofMcEwenMining,asdefinedbyNI43-101.TNRGoldCorp.hasnotengagedanindependentqualifiedpersontoverifythetechnicaldisclosuresprovidedbyMcEewnMiningInc.Mineralresourcesarenotmineralreservesandthereisnoguaranteethattheresourcesreportedhereinwillresultinaneconomicminingscenario.
McEwenMining
TSXV:TNR www.tnrgoldcorp.com
►LosAzulesResource
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Totalcontainedcopperis4.6Mt(Indicated)and8.8Mt(Inferred)2
Totalcontainedgoldis1.7Moz(Indicated)and3.8Moz(Inferred)
Totalcontainedsilveris56Moz(Indicated)and136Moz(Inferred)
TSXV:TNR www.tnrgoldcorp.com
►LosAzulesResource
McEwenMining
LongitudinalSectionThroughtheLosAzulesDeposit(lookingwest–southwest)
Thecopperresourcecontains10.2billionpoundsIndicatedand19.3billionpoundsInferred2“
(2)Pleaserefertotechnicaldisclosurestatement(1)regardingtheresourceestimate.
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TSXV:TNR www.tnrgoldcorp.com
►LosAzulesPreliminaryEconomicAssessment2017PEAHighlights(1,3)BaseCase($3.00/lbcopper,$1,300/ozgold,$17/ozsilver)
• $2.2billionAfter-TaxNPV(8%discountrate)and20.1%After-TaxIRR
• 3.6yearpaybackanda36yearsLifeofMine(LOM);
• 415millionlbaverageannualcopperproductionforthefirst10years.
• $1.11/lbaveragecashcopperproductioncosts(C1*)forthefirst10years,$1.28/lbaverageC1costsoverLOM.
McEwenMining
(3)ThePEAreportedanddocumentedbyMcEwenMiningispreliminaryinnature,itincludesinferredmineralresourcesthatareconsideredtoogeologicallyspeculativetohavetheeconomicconsiderationsappliedtothemthatwouldenablethemtobecategorizedasmineralreserves,andthereisnocertaintythatthepreliminaryeconomicassessmentwillberealized.Mineralresources,includingthosecategorizedas“measuredandindicated”aswellas“inferred”arenotmineralreservesandtheeconomicviabilityofthesemineralresourceshavenotbeendemonstratedbythiseconomicanalysis.McEwenMining'spressreleasesandwebsitematerialappeartobepreparedbyQualifiedPersonsandtheprocedures,methodologyandkeyassumptionsdisclosedbyMcEwenMiningarethoseadoptedandconsistentlyappliedintheminingindustry,butnoQualifiedPersonengagedbyTNRhasdonesufficientworktoanalyze,interpret,classifyorverifyMcEwenMining'sinformation,nortodeterminethecurrentmineralreserveorresourceoranyotherinformationreferredtointheirpressreleases.Accordingly,thereaderiscautionedinplacinganyrelianceonthesedisclosures.
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►LosAzulesPEA:CommodityPriceAssumptions
$3.00/lbcopper
$1,300/ozgold
$17/ozsilver
Undiscountednetsmelterreturn,overthelifeoftheminingproject
$35.2billion
UndiscountedCashFlowWaterfallDiagramfortheLifeofProject(4)
McEwenMining
(4)Pleaserefertotechnicaldisclosurestatements(1and3)regardingthePEA.
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►LosAzulesPotentialValueofTNR’sNSRRoyalty
(4)Pleaserefertotechnicaldisclosurestatements(1and3)regardingthePEA.
DiscountedCashFlowWaterfallDiagramfortheLifeofProject(4)
McEwenMining
TNRholdsa0.36%NSRroyaltyontheentireLosAzulesproject
PEAestimatesundiscountedcashflowforthelifeofmineNetSmelterReturnover$35B(4)
PEAestimatesdiscountedcashflow(8%)forthelifeofminewiththeNetSmelterReturnover$10.5B(4)
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►LosAzulesSummary
Argentinaisopenforbusiness
LosAzulesdepositismassive
100%ownedbyMcEwenMining
TNRhas0.36%NSRroyalty
PEAshowsfavorableresults
Projectismovingforward
IncreasedValueforTNR!
TSXV:TNR www.tnrgoldcorp.com 14
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ASSETS►Alaska
TSXV:TNR www.tnrgoldcorp.com
Alaskam
iners.org
“Alaska is a state steeped in a tradition of exploration, mining, and production,” Alaska Miners Association. Alaskaminers.org
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Shotgun
Pebble
Donlin
Fort Knox
Pogo
ASSETS►Shotgun
• 90%ownershipbyTNR
• LocatedinSWAlaskanearDonlinGoldandPebble
• AlaskaisrisingintermsofpolicyindexaccordingtotheFraserInstitute’s“AnnualSurveyofMiningCompanies”
• MineralizationstyleissimilartoDonlin
• Infrastructuredevelopment,communitysupportandpermittingprocessatDonlinwillbenefitShotgun
TSXV:TNR
SHOTGUN
GoldinAlaskanElephantCountry
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►ShotgunRidge–MineralizedIntervals
27.4mof2.3g/tAu
NE-Zone
Mid-Zone
SW-Zone22mof2.86g/tAu
18.4mof2.03g/tAu
Significant Drill Hole Intercepts(5)
12-56: 242m of 1.25g/t Au (over all three mineralized zones)
12-57: 209m of 1.02g/t Au
(over all three mineralized zones)
12-58: 46.55m of 1.14 g/t Au
(hole ended prior to intersecting MID and NE-zones)
(5) All widths reported are drill core widths and are not converted into true widths. True widths of the drill hole intercepts, which may be shorter than those reported, are currently unknown.
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►ShotgunRidge–RoomtoGrow
OPENMineralizationnotincludedinresourceestimate(6).
(6)Seeslidesattheendofthispresentationforafulldescriptionoftheresourceestimate.
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►Shotgun–Resource
Inferredmineralresourceestimate2013(6)
• 20,734,[email protected]/tAu• 705,960ouncesAu
• 0.5g/tAucut-off• Mineralresourceislocatedfromsurfacetoa
depthof150m
• Resourceislocatedonaridge,formingatopographichigh
• Mineralizationappearstobeuniformwithlittle-to-no“nuggeteffect”
• Mineralizationinsomedrillholesnotincludedinresourcemodel
• Mineralizationappearstobeopenatdepth,andalongstrike
• Canaddadditionalresourceswithfuturedrilling
TSXV:TNR www.tnrgoldcorp.com 19
Mineralizationnotincludedinresourceestimate.
(6)Seeslidesattheendofthispresentationforafulldescriptionoftheresourceestimate.
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►Shotgun–UnderstandingTargets
TSX.V:TNR 200m
Area of current resource and drilling
Undrilledtargetshavepotentialtohostmulti-millionozdepositsofgold
IPsurveysanddrillingonlycoverasmallportionofintrusivecomplex
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►Shotgun–Opportunity
CampScaleOpportunity
TSXV:TNR www.tnrgoldcorp.com 21
25km
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ASSETS►InternationalLithiumCorp.
TSXV:TNR www.tnrgoldcorp.com
“Lithium will power humans for the next 50 years, then robots”
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TSXV:TNR www.tnrgoldcorp.com
TNRGoldHolds10.5%EquityStakeinILC
In2010,TNRidentifiedandacquiredaglobalportfoliooflithiumprojects
TNRspun-outILCforthedevelopmentoftheselithiumresourcesinternationally
InternationalLithiumCorp.waslistedontheTSXVentureExchangeonMay24,2011
Avalonia-$10Mworkplanfundedbystrategicpartner
Mariana–Strategicpartnerfast-tracktoproduction
Mavis/FairserviceRaleigh–Strategicpartneractivelyexploring
TNRholds1.8%NSRRoyaltyontheMarianaLithiumProject
LondonVancouver
SanJuan
OfficeILCLithiumProjectsMariana
Mavis/FairserviceRaleighForgan
Avalonia
►InternationalLithium TSXV:ILC
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MarianaLithiumBrine,Argentina
Avalonia,Ireland
Mavis/Fairservice,Ontario,Canada
Raleigh,Ontario,Canada
Forgan,Ontario,Canada
►InternationalLithium-Assets
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TSXV:TNR
CONTACT
JointVenturePartnerships
Financing
-Wewelcomeyourinquiries-InvestorRelationshub
http://www.tnrgoldcorp.com/s/StockInfo.asp [email protected]
1111MelvilleStreet,Suite1100Vancouver,BC,V6E3V6
Phone:+1604-700-8912Fax:+1604-484-7143www.tnrgoldcorp.com
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►TechnicalDisclosureStatementsCertainInformationinthispresentationisbasedonstudiesconductedbyMcEwenMiningInc.andtheirconsultantsand“QualifiedPersons”asdefinedbyNationalInstrument43-101.StatementsinthepresentationreferringtoResourceEstimatesandaPreliminaryEconomicAssessmentaretakenfromtheinformationpubliclyprovidedbyMcEwenMiningInc.Thetechnicalreport,whichincludestheresultsofthepreliminaryeconomicanalysis(“PEA”),isavailableontheMcEwenMiningwebsiteandundertheprofileofMcEwenMiningonSEDARatwww.sedar.com.Thefollowingnotesarereferencedinthispresentation.
(1)Technicalreporttitled“NI43-101TechnicalReport–PreliminaryEconomicAssessmentUpdatefortheLosAzulesProject,Argentina,”withaneffectivedateofSeptember1,2017,preparedbyD.Brown,CPEng,M.Bunyard,C.Eng,FAusIMM,B.Davis,FAusIMM,J.Duff,P.Geol,R.Duinker,P.Eng,MBA,J.Farrell,P.Eng,W.Rose,P.E.,K.Seddon,CPEng,R.Sim,P.Geo,allofwhomarequalifiedpersonsandallofwhombutD.BrownandJ.DuffareconsideredindependentofMcEwenMining,asdefinedbyNI43-101.TNRGoldCorp.hasnotengagedanindependentqualifiedpersontoverifythetechnicaldisclosuresprovidedbyMcEewnMiningInc.Mineralresourcesarenotmineralreservesandthereisnoguaranteethattheresourcesreportedhereinwillresultinaneconomicminingscenario.
(3)ThePEAreportedanddocumentedbyMcEwenMiningispreliminaryinnature,itincludesinferredmineralresourcesthatareconsideredtoogeologicallyspeculativetohavetheeconomicconsiderationsappliedtothemthatwouldenablethemtobecategorizedasmineralreserves,andthereisnocertaintythatthepreliminaryeconomicassessmentwillberealized.Mineralresources,includingthosecategorizedas“measuredandindicated”aswellas“inferred”arenotmineralreservesandtheeconomicviabilityofthesemineralresourceshavenotbeendemonstratedbythiseconomicanalysis.
McEwenMining'spressreleasesandwebsitematerialappeartobepreparedbyQualifiedPersonsandtheprocedures,methodologyandkeyassumptionsdisclosedbyMcEwenMiningarethoseadoptedandconsistentlyappliedintheminingindustry,butnoQualifiedPersonengagedbyTNRhasdonesufficientworktoanalyze,interpret,classifyorverifyMcEwenMining'sinformation,nortodeterminethecurrentmineralreserveorresourceoranyotherinformationreferredtointheirpressreleases.Accordingly,thereaderiscautionedinplacinganyrelianceonthesedisclosures.
JonathanFindlay,P.Geo,GeologicalConsultantoftheCompany,anda“QualifiedPerson”forthepurposesofNationalInstrument43-101-StandardsofDisclosureforMineralProjectsoftheCanadianSecuritiesAdministrators,hasreviewedandapprovedthescientificandtechnicalinformationcontainedinthisPresentation.
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►ShotgunZoneResourceEstimate:effectivedateMay27,2013
TheShotgunZonemineral resourceestimate isbasedon34diamonddrillholes (NQ)totaling4,932.3metres,with2,481assays (0.2upto10metres in length).Holesweredrilledbyseveraloperatorsinfivedrillcampaignsconductedbetween1984and2012.The34drillholesarespacedprimarily40to100metresapartinanareaofapproximately375x300metres.Thedrillholestestedmineralizationtoaverticaldepthupto150metres.TheShotgungoldmineralizationisassociatedwithintrusionsofvariouscompositions(incl.graniteporphyry)whichintrudedtheCretaceoussedimentaryrocksoftheKuskokwimGroup.Mineralizationwasemplacedwithinacompressionalenvironmentevidencedbynortheastorientedrightlateralstrikeslipfaultingandopenfoldingwithnorthwestorientedaxes.IntheShotgunZone,northwestorienteddilationaljogsorrelayzoneshostmineralizedquartzbreccias.AresourcemodelfortheShotgunZonewasconstructedbasedonthedistributionofthegoldmineralization(>0.3to0.5g/tAu)andthismodelwasusedtoconstrainthecompositevalueschosenforinterpolation,andtheoreblocksreportedinthemineralresource.Ablockmodel(x–548000,y–6697000,z–800,norotation)withblockdimensionsof5x5x5metresinthex,yandzdirectionswasplacedoverresourcemodelsolidswithonlythatproportionofeachblockbelowthetopographic/overburdensurfaceandinsidethesolidrecorded.Gradesforgoldwereinterpolatedintotheblocksbytheinversedistancesquared(ID2)methodusingaminimumof2andmaximumof12compositestogenerateblockgradesintheInferredresourcecategory.Thesearchellipseusedtointerpolategradeintotheblocksmeasured110x60x110(PrincipleAz–235°,PrincipleDip-25°,IntemediateAz.-325°).Thesizeandorientationofthesearchellipseapproximatesthestrike,dipandthicknessoftheresourcemodelandtakesintoaccountthelimiteddrillingandrelativelywidespacingofthedrilling.Twometrecompositesampleswereusedintheresourceestimation.Anaveragespecificgravity(SG)of2.60wasusedfortheresourceestimate.TheaverageSGvalueisbasedonlimitedSG testing (18 samples)of representativemineralizedcore from11drillholeswhich intersect the resourcemodel.GemcomGEMS6.4.1 softwarewasused tocomplete the resourceestimate.GeoVectorhasestimatedarangeofInferredresourcesatvariousAug/tcut-offgrades(COG)fortheShotgunZone.Thecurrentinferredresourceisstatedusingagradecut-offof0.50g/tAu.Acut-offgradeof0.50 isconsideredareasonableeconomiccut-offgradefortheShotgunzonetomaximizethegradeoftheresourcewhilemaintainingacoherentmodeloftheresource.ACOGof0.50isareasonablecut-offforthistypeofAudepositinthisregion(Donlin,Livengood).TheinferredmineralresourceestimatewaspreparedincompliancewiththestandardsofNI43-101byAllanArmitage,PhD.,P.Geol.,ofGeoVectorManagementInc.,andisresponsibleforthetechnicalcommentsrelatedtotheresourceestimateanditsparameters.Armitageisan“independentqualifiedperson”forthepurposesofNationalInstrument43-101StandardsofDisclosureforMineralProjectsoftheCanadianSecuritiesAdministratorsandhasverifiedthedatadisclosedinthisdocument.FormoreinformationseeTNRGoldCorp.newsreleasesdatedApril22andMay30,2013andfiledonwww.SEDAR.com
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►ShotgunZoneResourceEstimate:effectivedateMay27,2013FormoreinformationseeTNRGoldCorp.newsreleasesdatedApril22andMay30,2013andfiledonwww.SEDAR.com.
Shotgun Ridge Inferred Resource Estimate – Au (g/t) cut-off
Cut-off Tonnes Grade(g/t) Grams Ozs <0.1g/t 24,551,029 0.96 23,628,833 759,770 0.1g/t 24,545,917 0.96 23,628,825 759,769 0.2g/t 24,545,917 0.96 23,628,825 759,769 0.3g/t 24,509,842 0.96 23,618,643 759,442 0.5g/t 20,734,313 1.06 21,955,342 705,960 0.7g/t 14,779,225 1.24 18,367,655 590,600 1.0g/t 9,101,458 1.49 13,602,038 437,365 1.5g/t 3,722,669 1.90 7,081,574 227,703 2.0g/t 874,455 2.52 2,203,359 70,848 3.0g/t 63,168 3.16 199,328 6,409 4.0g/t 1,300 5.46 7,096 228 5.0g/t 650 6.53 4,243 136
Modeled based on a 0.3 – 0.5 g/t Au cut-off