Perspective: Expanding the universe of exploration capital
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Perspective Issue Twenty Eight - January 22, 2018

Is it Time for Precious Metals?

By: Gary Baschuk, Managing Director, Mining and Senior Geologist

In 2017, the precious metals market was out-performed by most of the non-ferrous metals, petroleum and stock exchanges. With inflationary fears increasing, we expect the precious metals to outperform in 2018.

 

Late in 2017, precious metal share prices started to recover coinciding with the rising gold price. Looking into 2018, we expect low unemployment rates, higher wages and higher fuel prices to lead to increased inflationary fears and subsequent increased gold prices. Rising gold prices tend to disproportionately benefit companies with greater leverage to the gold price – those being larger, lower grade deposits or large capacity, higher cost producers. Some of these Canadian companies and properties include Detour Gold’s (DGC-TSX) Detour Lake Mine, Seabridge Gold’s (SEA-TSX) KSM Project, Marathon Gold Corp.’s (MOZ.TSX) Valentine Lake Project, Nighthawk Gold’s (NHK-TSX.V) Indin Lake Project, Osisko Mining Inc.’s (OSK-TSX) Windfall Lake and Victory Gold’s (VIT-TSX.V) Eagle Gold Project on the Dublin Gulch Property.

 

PearTree Spotlight

 

In Memory of Stanley Hartt

We are deeply saddened by the passing of our dear friend and colleague Stanley Hartt. Stanley was a Canadian icon. He was an important member of the PearTree family, and will be deeply missed. As expressed by PearTree Founder Ron Bernbaum, “What a legacy.  Stanley was one of the smartest, most insightful, genuine, funny, worldly generous friends and colleagues that I’ve ever had the pleasure of knowing. He was a force, a delight, a bon vivant raconteur of the first order, an inspiration to everyone he knew, and we will all sadly miss him.” We extend our condolences to the entire Hartt family and his partner Catherine McCormack.

For details of Stanley’s life and accomplishments please click here.

Canadian Mining Hall of Fame 30th Annual Dinner & Induction Ceremony

Last week, the Canadian Mining Hall of Fame (CMHF) held its 30th Annual Dinner and Induction ceremony. Four mine finders with distinguished achievements, Ross Beaty, Robert Gannicott, Terrance MacGibbon and Edward Thompson, were inducted into the CMHF. PearTree is proud to be the Platinum Sponsor of this exclusive event, attended by more than 1,000 mining professionals.

Ed Thompson

One of the founding members of CMHF, Ed Thompson was also a leader in bringing the Prospectors and Developers of Canada (PDAC) global respect and recognition. In addition, he has showed his diversity of skills by contributing to numerous aspects of the Canadian mining industry such as exploration, mine development, company building, and supporting industry causes and associations. In his career, Ed Thompson contributed to the growth of Teck Resources and Lacana Mining (now part of Barrick Gold). He also made discoveries in Ontario’s “Ring of Fire” and developed an iron ore mine in Quebec that Cliffs Canada bought in 2011 for 4.9 billion dollars. In addition, Ed Thompson has served on the boards of 50 junior companies.

Bob Gannicott

Robert Gannicott was both a pioneer in exploration and discovery of Arctic mines, and a strong advocate for Indigenous peoples and NWT communities. Throughout his years as a visionary entrepreneur, he played a major role in discovering the Diavik diamond mine, while at the helm of Aber Resources, a 40% owner. Aber was later acquired by a diamond retailer and renamed Harry Winston Diamond Corporation before the retail business was sold and renamed Dominion Diamond Corporation. When DDC acquired an 80% interest in the Ekati mine, combined with the 40% of Diavik, this became one of Canada’s largest independent diamond producers. Bob Gannicott passed away in 2016.

Terry MacGibbon

Terry MacGibbon became known within the industry as an entrepreneur, innovator and role model when he segued into mine development and company building. Applying experience from his 30 years with Inco in Sudbury, he built four considerable mining companies from assets considered non-core for major mining companies (FNX Mining, Torex Gold Resources, TMAC Resources and INV Metals), raised billions of dollars of capital, developed great relationships with industry stakeholders, and generated major employment and economic benefits.

Ross Beaty

A recent appointee to The Order of Canada, Ross Beaty is considered one of Canada’s most successful mining entrepreneurs. With a background in geology he has built up over thirteen companies creating over $6 billion in shareholder value. He created Equinox Resources which in 1994 was sold to Hecla Mining, then developed and sold eight other Junior companies including Lumina Copper which was split into six companies and sold in a series of transactions generating nearly $2 billion of shareholder value. His flagship company, Pan American Silver, is one of the biggest global silver producers. In addition, Ross Beaty has paired his passion and success with giving back via environmental, civil society and philanthropic support.

Agnico Eagle’s Meadowbank Mine

PearTree is proud to feature the Agnico Eagle METC Meadowbank case study video. The Meadowbank open-pit gold mine in the Kivalliq region of Nunavut – approximately 300 km west of Hudson Bay and 110 km by road north of Baker Lake – is Agnico Eagle’s first Low Arctic mine. This Canadian success story originated as a result of METC / flow through financing.

To learn more about the Meadowbank mine, click here.

Equity Research

By Gary Baschuk, Managing Director, Mining and Senior Geologist

Seabridge Gold Inc. (SEA-TSX), (SA-NYSE)

Leverage on Scale

Shares Outstanding: 57.4 mln FD: 61.4 mln (as of Jan 2018), No debt, > $20 mln wkg capital

Market Cap: ~C$810 mln

Seabridge has amassed a large land package within the Golden Triangle Region of British Columbia as well as the Courageous Lake Property in Northwest Territory. We believe Seabridge will be one of the best leveraged companies in a rising gold price environment due to their massive resource and expansion potential in a politically stable jurisdiction. The KSM deposit rivals’ other world-class porphyry deposits and remains open for expansion.

Key Points

  • 100% ownership of the Kerr Sulphurets Mitchell and Iron Cap (KSM) Deposits
  • World class porphyry gold-copper deposit hosting more than 49.8 mln oz gold, 13.6 bln lbs copper, 253.2 mln oz silver and 285 mln lbs molybdenum (Measured and Indicated Res, May 31, 2016)
  • Positive Preliminary Feasibility Study completed in 2016 results in 1,150,000 oz gold, 307 mln lbs copper, 3.3 mln oz silver plus molybdenum produced annually in the first 7 years
  • PEA incorporating Inferred Resources from Deep Kerr and Iron Cap is even more robust.
  • Massive resource with a total mine life of over 50 years is expected to bridge numerous economic cycles with higher commodity prices
  • The large resource of a porphyry deposit provides excellent leverage to share price in a shorter-term rising commodity environment
  • Environmental Assessment has been approved by Provincial and Federal authorities
  • Benefit Agreement signed with key First Nations
  • Drilling at Iron Cap has recently returned long intercepts of higher-grade mineralization. The higher grades are expected to improve economics and most likely change the mining sequence to extract higher-valued mineralization early to recapture initial capital expenditures
  • 100% ownership of Courageous Lake Deposit in NWT hosting almost 8 mln oz gold. Large greenstone belt provides additional discovery potential – drilling to commence soon
  • Strong Investor support group
  • Strong Management Team with Exploration, Delineation, Engineering and Development Expertise

Upcoming Catalysts

  • Updated resource estimate for KSM to include the high-grade results from deep drilling at Deep Kerr and Iron Cap (Block Cave)
  • Drill results from Courageous Lake – drilling to commence in Feb testing seven targets
  • Updated Economic Study incorporating the high-grade zones and potential resequencing of mining. We expect Iron Cap’s high-grade zones would be mined prior to Kerr enhancing economics of the project

Mineral Properties

Seabridge focusses on gold deposits and has three core properties: KSM, Courageous Lake and Iskut.

Kerr Sulphurets Mitchell (KSM)

The KSM property is located in the favourable Golden Triangle Region of northern British Columbia. The area is well serviced with highways, power and is a mining centric region of the province.

Figure 1. KSM Property Location illustrating Infrastructure

 Source: Seabridge Gold Inc.

Geologically, the area is an island arc environment similar to the geological environment of the Pacific coastline of North and South America, the Tethyan Belt through Europe and the volcanically active South Pacific region. Major porphyry gold-copper deposits are found throughout these regions and some of the most notable are listed below in Figure 2.

Figure 2. Notable Gold-Copper Deposits focussing on British Columbia.

 Source: Company Websites, Sedar, PearTree Securities Inc.

Seabridge’s KSM project rivals some of the largest in the world and we expect the grades to improve with the inclusion of more recent higher-grade drill results from Deep Kerr and especially from Iron Cap. In addition, the property lies in a safe, mining friendly jurisdiction with good infrastructure.

In 2016, KSM updated the Prefeasibility Study (PFS) and completed a Preliminary Economic Assessment (PEA) utilizing a Mineral Resource Estimate of May 31, 2016 and a Reserve Estimate of July 2016. The new PFS envisions a combination of open-pit and underground (block cave) mining.

Figure 3. KSM Mineral Resource Estimate as of May 2016.

 Source: Seabridge Gold Inc.

Figure 4. KSM and Iron Cap Block Model

 Source: Seabridge Gold Inc.

The PFS envisions a 53-year mine life with open pits dominating the first 33 years of production. Milling for years 2 – 35 is designed at 130,000 tonnes/day (tpd) and dropping to 95,000 tpd for 10 years, then decreasing to 60,000 tpd processing stockpiled material. Processing would be through a flotation and gold extraction mill. Metallurgical testwork indicates a clean copper concentrate at 25% can be achieved with a high precious metals content. A separate molybdenum concentrate and a gold/silver dore would be produced at the KSM facility. The concentrates could be transported by truck to nearby seaports for shipping to Pacific Rim smelting sites. The PFS base case provided a low estimated cash cost of $673/oz gold and after-tax capital payback of only 6.8 yrs.

As an alternative, a PEA was also conducted that envisioned more underground block-cave mining and reducing the number and size of open pits (from 70% in the PFS to 22% in the PEA). The waste rock would also drop substantially by approximately 81% or 2.4 bln tonnes. The PFS utilized some of the Inferred Resources from Deep Kerr and Iron Cap into the mine plan and increased throughput to 170,000 tpd. The initial capital requirements would be approximately 9.7% higher although cash costs are estimated at only US$358/oz. The lower cost is due to increased copper production more than offsetting the higher sustaining capital required for the underground operations. 77% more copper would be produced in the PEA scenario and operating costs are estimated at negative US$179/oz compared to positive $277/oz in the PFS case.

Capital Costs for projects of this scale are high. The PEA scenario estimates initial capital costs of US$5.5 bln vs US$5.0 bln for the PFS. Figure 5 compares results from the two studies and provides sensitivity analysis at various commodity prices and exchange rates.

Figure 5. Projected Economic Results comparing the PFS to the PEA.

 Source: Tetra Tech KSM PFS and PEA Study, Oct 6, 2016

Of note, the studies use a resource calculated prior to the late-2017 high-grade drill results from Iron Cap. We expect, once the new intersections are modeled, the higher grades intersected would have a positive effect on the economics of the project.

Highlights of the Iron Cap drilling released late in 2017 include:

  • IC-17-70: 925.0m grading 0.71 g/t gold, 0.46% copper and 2.6 g/t silver
    • Including 104.6m grading 1.14 g/t gold, 1.11% copper and 4.2 g/t silver
  • IC-17-71: 699.8m grading 0.87 g/t gold, 0.51% copper and 2.4 g/t silver
    • including 186.3m grading 1.49 g/t gold, 0.74% copper and 3.6 g/t silver
  • IC-17-72: 858.1m grading 0.86 g/t gold, 0.51% copper and 2.4 g/t silver
    • Including 113.3m grading 2.98 g/t gold, 1.56% copper and 4.4 g/t silver
  • IC-17-73: 379.4m grading 0.33 g/t gold, 0.35% copper and 4.8 g/t silver
    • Including 57.0m grading 1.16 g/t gold, 0.18% copper and 4.4 silver

Overall, the KSM properties host massive gold-copper porphyry deposits that are still open for expansion. Although the resource grades are low, we believe the economies of scale, additional higher-grade intersections from Iron Cap and Deep Kerr combined with selective underground mining may further reduce costs and improve the already positive economics  as supported by both the PFS and PEA.

World-class porphyry deposits are rare. In a rising commodity market, coupled with increased government and local social intervention in second and third-world jurisdictions, we expect Seabridge’s KSM property to become even more enticing to the majors.

Courageous Lake

Although KSM is by far the largest of Seabridge’s deposits, the 100% owned Courageous Lake Property in the NWT is also sizeable with a Measured and Indicated Resource of almost 8 mln oz gold grading 2.31 g/t. Gold was first discovered in the area in the early 1940’s but more detailed exploration and subsequent underground development started with Noranda in the 1970’s and 80’s. Noranda discovered two mineralized zones – the Tundra Deposit or Felsic-Ash Tuff (FAT) Deposit and the Carbonate Zone. Noranda constructed a three-compartment shaft to a depth of 472.6m and performed detailed underground drilling. In 1998, Placer Dome conducted additional exploration work including a ground magnetic survey which helped define the zones of mineralization and identify new targets for exploration.

Seabridge began exploration in 2005 after acquiring the property from Newmont Canada Ltd and Total Resources Canada Ltd. Seabridge subsequently extended the property land package acquiring more ground in the Matthews Lake Greenstone Belt.

Courageous Lake resources are from two deposits, FAT and Walsh Lake located within the 52 km long Matthews Lake Greenstone Belt. FAT is a refractory (difficult to process) deposit with Reserves of 6.46 mln oz gold grading 2.20 g/t gold. Walsh Lake is a more recent, near surface discovery with Inferred Resources of 482,000 oz grading at 3.24 g/t. Metallurgical studies from the Walsh Lake Deposit have achieved recoveries up to 95% from direct cyanide extraction. The Walsh Lake Deposit, if expanded significantly, could act as an initial starting point for a mine, providing revenue for the capital required for the larger FAT Deposit.

Figure 6. Location of Courageous Lake Property, NWT

 Source: Seabridge Gold Inc.

In Feb 2018, Seabridge plans to commence a 36-hole, 7,200 m drill program. The objective is to test seven targets along the same geological break that hosts the FAT and Walsh Lake Deposits.

Iskut

The Iskut Property is only 30 km by air from the KSM Project and was acquired by Seabridge in 2016 with the acquisition of Snip Gold Corp. The property encompasses 29,436 ha and hosts the past producing Johnny Mountain high-grade gold mine and the copper-gold Bronson Slope Deposit.

Figure 7. Iskut Property Location with respect to KSM in BC’s Golden Triangle

 Source: Seabridge Gold Inc.

The property has been explored intermittently since 1907 by more than 30 different operators with the bulk of the work done in the late 1980’s to early 1990’s. Production from the Johnny Mountain Mine commenced in 1988 and was operated intermittently over 24 mos to the end of summer 1993. A total of 90,517 oz gold, 19,818 oz silver and 2,222,477 lbs of copper were produced from 249,097 tonnes of ore. On the adjacent Snip Mine, Cominco, then Homestake operated an underground gold mine sporadically from 1919 to 1999. Production is reported at 1 mln oz gold at a recoverable grade of 24.5 g/t. Numerous other companies rushed into the area to acquire property and in 2005, Skyline Gold Corp. began consolidating the land package and eventually changed their name to Snip Gold Corp.

The property lies within an island-arc environment, a geological setting similar to some of the largest porphyry deposits in the world including Oyu Tolgoi in Mongolia, Grasberg in Indonesia, Newmont Mining Corp.’s (NEM-NYSE)  Batu Hijau in Indonesia and KSM.

Seabridge commenced exploration on Iskut in 2017 with 10 core holes targeting Quartz Rise. Intermediate sulphidation mineralization was intersected returning 8.26 g/t gold over 1.5m in hole QR-17-01 and 74.1 g/t gold over 1.5m in hole QR-17-07.

Work planned in 2018 is to include geophysical surveys and drilling as well as environmental work to begin remediation of historical mining activities.

Permitting Status

The KSM Project has received Environmental Assessment approval from the BC Government (July 2014) and the Federal Government (Dec 2014).  In June of 2017, the Canadian Government issued a regulatory amendment to Schedule 2 of the Metal Mining Effluent Regulations under the Fisheries Act to permit KSM the use of upper tributaries of specific rivers for containment of process by-products. The amendment approves the construction of KSM’s Tailings Management Facility, subject to strict bond and fishery habitat compensation requirements.

In addition, early-stage permits have been received for construction of roadways along Coulter Creek and Treaty Creek, rights-of-way for the proposed Mitchell-Treaty Twinned Tunnel alignment, permits to construct and operate certain camps required to support construction and permits authorizing early-stage construction activities at the Mine Site and Tailings Management Facility. The Company also received permits from the BC Government allowing the construction of an exploration adit to explore mineralization at Depp Kerr.

We believe the approvals illustrate the commitment and support of the governments and local communities to the advancement of the KSM project.

Exit Strategy

Seabridge’s expertise lies in the exploration, delineation, engineering and development phases of a project. The construction and operation, according to the company, is better suited to those companies specializing in those areas. Seabridge’s strategy is to advance a project to the construction phase and sell or joint venture the property to a producer. This strategy limits the risk and minimizes shareholder dilution. The KSM deposits are massive and require large capital investments and expertise to bring into production. The company has indicated that they have signed Confidentiality Agreements (CA’s) with most major gold, copper and base metal companies.

Investors

Seabridge is supported by a strong group of institutional investors and insiders own more than 30% of the company. Key investors include: Friedberg Mercantile Group, National Bank, Century Management, Van Eck Associates, Weiss Asset Management, TD Bank, Sprott Asset Management, Fidelity, and Paulson and Co. Royal Gold (RLGD-Nasdaq) holds an option to acquire a 2% NSR on gold/silver produced from KSM for $160 mln in cash.

Management and Directors

The management team has extensive experience, each with over 25 years, and many having been employed by major gold companies in key responsibility positions.

Rudy Fronk, Co-Founder, Chairman and CEO has spent over 30 years in the gold business mainly as a senior officer and director of publicly traded companies including Greenstone Resources, Columbia Resources, Behre Dolbear & Company, Riverside Associates, Philbro-Salomon, Amax and DRX.

Jay Layman, Director, President and COO also has over 30 years mining experience and is responsible for the designing and managing the technical programs needed to advance the Seabridge properties toward feasibility study. Jay is former Vice President of Solutions and Innovation for Newmont Mining Company.

Bill Threlkeld, Senior VP, Exploration has over 30 years exploration experience and is responsible for the design and implementation of Seabridge’s exploration and resource delineation programs. Bill previously served as Exploration Manager and Vice President with Placer Dome.

Peter Williams, Senior VP, Technical Services has over 30 years experience in mine engineering, design, strategic analysis and start-up. Peter was previously a Group Executive, Mine Engineering at Newmont.

Christopher Reynolds, VP, CFO has 25 years of mining industry and public accounting experience. Christopher is a CPA, CGA and currently a director of Paramount Gold Nevada Corp.

Brent Murphy, VP Environmental Affairs has over 25 years experience, responsible for developing and managing Seabridge’s environmental programs and community engagement strategies.

Bruce Scott, VP Corporate Affairs has practiced law in the areas of corporate finance and securities, corporate and mining since 1993 and has been counsel to Seabridge Gold since 1999.

Frederick Banfield, Director, Founder and Chairman of Mintec, Inc. and one of the original developers of Minesite, a pre-eminent reserves and modeling and mine design software system used world-wide.

Eliseo Gonzalez-Urien, Director and Chair of the Audit Committee. Eliseo has over 30 years experience and ran global exploration for Placer Dome from 1989 through 2001.

Richard Krauss, Director and Chair of the Audit Committee. Richard is currently the Executive Chairman of The RMH Group Inc and was previously CEO (and previously COO and CFO) of Echo Bay Mines.

John Sabine, Director and Chair of the Governance and Nominating Committee. John has over 40 years of legal expertise in mining, securities, financing and mergers and acquisitions. He is the former CEO of Anvil Mining and current director of Algold Resources Inc. and Uranium One.

Gary Sugar, Director. Gary has 32 years of investment banking experience and is a former director of Osisko Mining and Romarco Minerals. He is also a director of Stillwater Mining.

 

Important Information and Legal Disclaimers

This report has been prepared for general information purposes only and should not be considered either a solicitation for the purchase or an offer of securities. This research report does not constitute a recommendation. The securities mentioned in this report may not be suitable for all types of investors. The information contained in this report is not intended as individual investment advice and is not designed to meet any particular investment objectives, financial situations, or needs. Nothing in this report constitutes legal, accounting or tax advice.

Information, opinions and statistical data contained in this report were obtained or derived from sources believed to be reliable, but its accuracy cannot be guaranteed. PearTree Securities Inc. (“PT Securities”) and/or its affiliates and/or any of their respective officers, directors, and representatives (collectively “PearTree”) does not represent that any such information, opinion or statistical data is accurate or complete (with the exception of information contained in the Important Disclosures section of this report provided by PearTree or individual research analysts). Any opinions or analysis herein reflect the views of the Analyst as at the date appearing above, and are subject to change without notice. The Analyst writing the report is not a person or company with actual, implied or apparent authority to act on behalf of any issuer mentioned in this report.

PearTree may, in exchange for remuneration, participate in the financing of companies mentioned in this report. PearTree analysts are salaried employees who may receive a performance bonus that may be derived, in part, from corporate finance income. PearTree and members of their families may hold positions in the companies mentioned in this report and may buy and/or sell these stocks on the market or otherwise.

PearTree shall not be held liable for any loss or damage resulting from the use or the implementation of the information contained herein, except to the extent that liability may arise under specific statutes or regulations applicable to PearTree. The investments to which this report relates can fluctuate in value.

Dissemination of Research

Research reports are disseminated through electronic medium or in printed copy. Clients may access reports on our website, or receive publications directly via email. PearTree strives to ensure all recipients receive research in a timely manner and at the same time.

For Canadian residents: PT Securities is registered as an Exempt Market Dealer, a Registered Portfolio Manager and Investment Fund Manager pursuant to NI-31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. PT Securities is a subsidiary of PearTree Financial Services Ltd., an unregistered firm that consults to charities on tax and other matters related to a flow through share donation program.

For US residents: The information provided herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country including the United States, where such distribution or use would be contrary to law or regulation or which would subject PearTree to any registration requirement within such jurisdiction or country.

Analyst Certification

I, Gary Baschuk, hereby certify that the views expressed in this report accurately reflect my personal views about the subject and the issuer.

 

Important Disclosures

Of the companies included in the report the following Important Disclosures apply:

Ticker Company 1 2 3 4 5
ABX-TSX Barrick Gold Corp. x
CG-TSX Centerra Gold Inc.
DGC-TSX Detour Gold Corp.
FCX-NYSE Freeport-McMoRan Inc.
III-TSX Imperial Metals Corp.
MOZ-TSX Marathon Gold Corp.
NGD-TSX New Gold Inc.
NEM-NYSE Newmont Mining Corp.
NHK-TSX Nighthawk Gold Corp. x x
NG-TSX Novagold Resources Inc.
OSK-TSX Osisko Mining Inc. x
RIO-NYSE Rio Tinto
SEA-TSX Seabridge Gold Inc. x
TECK.B-TSX Teck Resources Ltd.
VIT-TSX.V Victoria Gold Corp. x
1 The Analyst(s) preparing this report (or a member of the Analyst’s household) have a financial interest in this company.
2 PearTree has managed or co-managed or participated as selling group in a private placement for the issuer’s in the past 12 months.
3 As of the end of the month immediately preceding the date of issuance of this research report or the end of the second most recent month if the issue date is less than 10 calendar days after the end of the most recent month, PearTree collectively beneficially owned 1% or more of a class of the issuer’s equity securities.
4 PearTree has visited projects of the issuer and a portion of the expenses for this travel may have been reimbursed by the issuer.
5 PearTree, the analyst or an associate of the analyst responsible for this report or any individuals directly involved in the preparation of this report hold or are short the issuer’s securities directly or through derivatives.
The research analyst is not aware of any other material conflict at the time of publication.

This newsletter is dedicated to providing insight and analysis on Canadian mineral exploration and development stories. We welcome your feedback.

PearTree Securities is the largest provider of mining flow through capital in Canada. As an exempt market dealer and portfolio manager, PearTree Securities has approximately $250 million available for investments annually.

Upcoming Conferences & Events

Cambridge House Vancouver Resource Investment Conference in Vancouver, BC – January 21-22, 2018

AME Roundup in Vancouver, BC – January 22-25, 2018

Mining Indaba Conference in Cape Town, South Africa – February 5-8, 2018

BMO Capital Markets 27th Annual Global Metals & Mining Conference in Hollywood, FL – February 25-28, 2018

Prospectors and Developers Association of Canada International Convention, Trade Show & Investors Exchange in Toronto, ON – March 4-7, 2018

Mines and Money Asia in Hong Kong – April 4-6, 2018

121 Mining Investment in Hong Kong – April 16-17, 2018

Canadian Mining Symposium in London, UK – April 24-25, 2018

Mines and Money in New York, NY – May 7-9, 2018

121 Mining Investment in London, UK – May 17-18, 2018

121 Mining Investment in New York, NY – June 5-6, 2018

Contact Us

Lisa Davis
CEO
Email Lisa
416.322.2299

Gary Baschuk
Managing Director, Mining and Senior Geologist
Email Gary
416.322.2297

Ricky Chan
Vice President
Email Ricky
416.322.2298

Danny Mah
Managing Director, Oil & Gas
Email Danny
C: 403.615.4917

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