Published on January 18, 2016
The next mining destination
2. Ecuador - The next mining destination 2 Ecuador Capital: Quito Cities: Cuenca, Guayaquil, Quito Area: 256,370 sq km Pop: 14.8 million Language: Spanish Currency: U.S. Dollar since 2001
3. Ecuador - The next mining destination Location 3 Ecuador enjoys a modern infrastructure and expansive road network. It is presently developing a project to establish an inter-oceanic corridor to connect the coastal city of Manta with Manaos (Brazil) that will permit direct communication between the Atlantic and Pacific Oceans. The country has four state operated commercial ports: Guayaquil, Manta, Esmeraldas and Bolívar. In addition it has 17 private ports and is presently constructing another port in Posorja (Guayaquil). This port will be able to receive container transport including the great Panamax vessels. Ecuador has two international airports, one in Quito and another in Guayaquil. The latter airport has been categorised as the best airport in Latin America. Ecuador is located in the north west of South America on the Pacific coast. It enjoys a strategic position that provides direct access to East Asia markets as well as to the West coast of the United States. Its proximity to the Panama Canal permits access to Europe, the eastern coast of the United States, the Middle East and to the rest of Asia. Infrastructure
4. Why is Ecuador next? … enter Five Major Miners
5. Ecuador - The next mining destination | Why Ecuador is next Economy 5 ▪ According to the UN Economic Commission for Latin America, the Ecuadorian economy is amongst the highest performing economies in Latin American. ▪ Investment and Consumption is driving 12 straight years of expansion. ▪ Inflation is at 3.5% - lower than the Latin American average. ▪ Ecuador has the best performing Sovereign Bonds in Latin America, returning 13% per annum according to JP Morgan Chase. ▪ Dollarisation of the economy in 2000 provides confidence and greater ease to investors, in as much as there is no risk of devaluation.
6. Ecuador - The next mining destination | Why Ecuador is next Opportune timing for Ecuador’s mining sector 6 ▪ Ecuador is bordered by Colombia in the North and Peru in the South. ▪ Ecuador has recently opened up to foreign mining investment and there are significant opportunities in a vast country with plenty of promising geology. ▪ Ecuador’s economy is quickly moving from its historical petroleum production base to a new mining strategy. ▪ Modern constitutional framework, fiscal stability and a new Mining Code as at 2009. ▪ High rates of return by fiscal incentives that shape a competitive mining tax regime with royalties at 3%. ▪ A qualified workforce with strong mining heritage and low labour costs. ▪ Low extraction costs, together with an abundance of mining resources, represent an attractive potential for mining investment in Ecuador.
7. Ecuador - The next mining destination | Why Ecuador is next Enter five major mining companies 7 Kinross Canada Fluta del Norte Au Ag 2012 Int’l Minerals Canada Rio Blanco Au Ag FS Ecuacorriente China Mirador Cu Au FS Iamgold Canada Quimsacocha Au Ag PFS Explocobres China San Carlos Cu EIA EIA: Environmental Impact Assessment FS: Feasibility Study PFS: Pre-Feasibility Study Date: Commencement Company Origin Project Mineral Status
8. Ecuador - The next mining destination | Why Ecuador is next 8
9. Ecuminer Gold Mine … ready to explore
10. Ecuador - The next mining destination | Ecuminer Gold Mine 10 ▪ Overview ▪ Location ▪ Key Features ▪ Geology
11. Ecuador - The next mining destination | Ecuminer Gold Mine Overview 11 Ecuminer is a high grade Gold mine project in motion, with its pre-feasibility and environmental impact assessment completed in April 2011. The project is wholly owned by a private investor who resides in Spain. The owner now seeks to advance the project by way of a Joint Venture. From an initial land title of 32 hectares, Ecuminer has 1,080 hectares to examine as per it’s mining concession, plus preferential rights. Ecuminer has great infrastructure, including grid power, and is easily accessed by sealed road. Water is available and in abundance from an operational perspective. The project now requires both know-how and a capital investment of approximately USD $10M to produce an estimated 5840 ounces of gold in the first year. Ecuminer can be viewed as a platform for further opportunity in what is a country with plenty of promising geology. Ecuminer is compliant with the Mining Code 2009 and has mineral deposits that can be readily explored.
12. Ecuador - The next mining destination | Ecuminer Gold Mine Location 12
13. Ecuador - The next mining destination | Ecuminer Gold Mine 13 The project is located in the province of El Oro which is situated southwest of the Ecuador on the Andean cordillera and near the Peruvian boarder. Mining Concession with Registration Number 300857 includes an area of 205 hectares for 25 years. Ecuminer holds land title of 32 hectares known as Camarones and has preferential rights to an additional 875 hectares with a total land package of 1,080 hectares. The Mining Concession allows for the: Prospecting, Exploration, Production, Liquidation, Refinement and Export of all types of natural resources and minerals which form part of the concessional area.
14. Ecuador - The next mining destination | Ecuminer Gold Mine Key Features 14 Ecuminer possesses the following attributes: ▪ Located within the highly mineralised metallogenic belt of South West Ecuador. ▪ Favourably placed for the logistics, infrastructure and provision of mining services with very good accessibility to existing processing facilities in Portovelo. ▪ A complete Environmental Impact assessment has been approved. ▪ Pre-feasibility and Prospecting studies have been completed. ▪ Sampling has defined strong Gold findings with values of 5g/t at the surface to an anticipated 20g/t at 400 meters. ▪ Project hosts numerous precious mineral veins which remain untested and located along strike and at depth.
15. Ecuador - The next mining destination | Ecuminer Gold Mine Geology 15 The Portovelo mining district covers an area with lots of veins that extend about 15 km in NS direction, 4 km in EW direction and 1.6 km depth. The type of system is made up of polymetallic hepitermales veins. The main minerals observed in the mineralised zones are quartz, pyrite, sphalerite, chalcopyrite, calcite, iron oxides and manganese. Based on the geological survey of the mining area known as Camarones, it was found that the mineralisation is of hydrothermal origin vetiforme type (fracture filling mineral solutions), determining the presence of primary minerals such as pyrite, chalcopyrite, iron oxides, gold and silver. Gangue minerals are quartz and calcite. Based on field data obtained from mining operations and geochemical prospecting (sediment sampling rocks and soil) has determined the presence of four mineralised structures, which support the mining area. Sampling of surface veins returned values of 5g/t Au. Numerous high grade structures remain untested and the potential to discover new veins is considered high.
16. This document has been prepared by Magellan Australia to provide prospective clients with information in relation to the investment in Ecuminer and may not be used or reproduced for any other purpose. This information set forth herein (the “Information”) does not purport to be complete. No person has been authorised to make any statement concerning the investment opportunity other than as has been set forth in this document and any statements made that are not contained therein may not be relied upon. We are providing the Information to you for information purposes only and without representation or warranty, express or implied, by us as to its accuracy or completeness and without any responsibility on our part to revise or update the information. As a condition for providing this information, we make no representation and shall have no liability in any way arising to you or any other entity (for any loss or damage, direct or indirect, arising from the use of this Information). This document is confidential and is intended solely for the information of the person to whom it has been delivered. It may not be reproduced or transmitted, in whole or in part, to third parties except as agreed in writing by us. In addition, you agree that, promptly upon our request, all copies of the information furnished to you will be promptly returned to us and you agree that all intellectual property rights subsisting in the information provided do not belong to you. In considering any performance data contained herein, each prospective investor should bear in mind that past performance is not indicative of future results, and there can be no assurance that the investments will achieve comparable results. In addition, there can be no assurance that unrealised investments will be realised at the valuations shown as actual realised returns will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs, and the timing and manner of sale, all of which may differ from the assumptions on which the valuations contained herein are based. Nothing contained herein should be deemed to be a prediction or projection of future performance of future activities undertaken on behalf of prospective investors. Except where otherwise indicated herein, the information provided herein is based on matters as they exist as of the date of preparation and not as of any future date and will not be updated or otherwise revised to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. Certain information contained in this presentation constitutes “forward-looking statements” which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “except”, “anticipate”, “target”, “project”, “estimate”, “intend”, “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of future activities undertaken on behalf of prospective investors may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained herein should be construed as legal, investment, accounting or tax advice. Each prospective investor should consult its own legal, business or investment advise, accounting adviser and tax adviser as to legal, business, accounting, tax and related matters concerning the information contained herein. Prospective investors, clients or partners should make their own analysis and decisions of the information contained herein, independently and without reliance on the Information or on us and based upon such investigation, analysis and evaluations, as they deem appropriate. Disclaimer
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