pg mining management - leed resources plc presentation.pdf · pg mining management ... pgmm adds...
TRANSCRIPT
Overview – Strategic Development Partner
PG Mining Management
April 2014
PG Mining Management
Mining project
development group
PG MINING MANAGEMENT
Extensive project
development credentials
Project investment
capital
Provide management capabilities, expertise and networks to advance mining projects
Service and manage mining investments for PG Mining Management investor consortia
Provide additional endorsement for mining development projects as a project enabler
Specialist focus on mine building and mine production optimization
PG Mining Management was established to provide mining project technical expertise, commercial
acumen and investment track record
Global Mining Project Experience
Canada
Australia
New Zealand
Indonesia
China
U.S.A
(Representative Office)
South Africa
Philippines (Representative Office)
Malaysia
India
Project Experience & Office Locations
PG Mining Management (PGMM) staff have advised, arranged, financed, developed and operated mining projects across the
globe
Laos
PNG
Thailand
Tanzania
Singapore
(Head Office)
Mexico
Chile
Greece
Investor consortium , with PGMM lead management, invested US$80m to redevelop the
Philippine copper/gold mine, and took the lead role in driving the business development
and managing operations. Mining operations resumed after an 18 month rehabilitation
program and the stake was sold for US$370m
PGMM management oversaw the US$250m construction and commissioning of the
200,000oz per annum Masbate gold project. The project was developed on time and
budget and has met production forecasts. Masbate was divested by project owner CGA
Mining in late 2012 for more than US$1b
Global Mining Project Experience
Mine Development Track Record
The PGMM track record of investment and management of mining projects includes the following recent examples:
Additional Projects: PGMM senior management have been involved with a large number of additional projects. Roles
include providing project development management, operational expertise, technical reviews, diligence and advisory
services to many projects in most major global mining jurisdictions and covering a range of commodities
Business Focus
Overview
PGMM acts as a strategic development partner for mining companies. PGMM seeks to identify projects that are compatible
with its track record and which PGMM can add value to as the project is developed
PGMM is a project enabler and the involvement of PGMM is intended to facilitate a project’s access to development capital,
both from PGMM’s investor consortia and other sources of capital
PGMM aims to promote value appreciation at every level of the capital structure
Technical & Commercial Management Services
PGMM adds value to mining assets through a contribution of mining technical and commercial management input. Areas of
particular expertise include:
Project modelling and valuations
Mine and project development
Feasibility studies for both UG and open pit
Resource/reserve modeling and mine design
Mineral exploration programs
Permitting in particular jurisdictions
Mining Technical
Investment structuring – including defining appropriate finance instruments/ methodologies to suit a project
Business and project development plans
Partner negotiations
Finance and other corporate and commercial services
Commercial Management
Technical Services & Commercial Management
Technical Services & Commercial Management Overview
Development Management Team PGMM performs the role of an ‘outsourced management team’ for mine project development
The exact nature of the management services provided by PGMM is flexible and determined by
individual project developments
May involve assuming overall responsibility for managing project development including setting
strategic and actionable business plans, in addition to financial objectives
Problem Solving PGMM also has the capability to undertake assignments focused on a particular facet of a
project - i.e. ‘trouble shooting’
An assignment of this nature may, for example, involve focusing on improving the operating
performance of an existing mining project
PGMM has a proven ability to deliver operational and financial discipline to mining projects
Technical & Commercial Reviews PGMM undertakes technical reviews and limited due diligence studies for boards and project
owners seeking an expert opinion on mining project development
Service Delivery
The range of situations where PGMM may provide Mining Technical & Commercial Management Services is listed below:
Featured Project Developments – Carmen Copper Corporation
Project Overview
Large porphyry copper deposit located on Cebu Island
Multiple open pit operation and underground development
Infrastructure includes power, concentrating and port facilities
Project Development
Purchased a 45.5% stake in a copper/gold mine in the
Philippines, Carmen Copper Corporation, co-owned with PSE
listed, Atlas Consolidated Mining and Development Corporation
The investment was made prior to the rehabilitation of the mine,
which had operated successfully for 50 years until the mid
1990’s when it closed down due to a confluence of events
Consortia invested circa US$80m and held a co-control position
of the company with Atlas. Investor consortium management
(now PGMM) managed the business; including day-to-day
operations, all key development decisions and board level
matters
The mine began operations again in September 2008 after an
18 month rehabilitation program and currently processing an
average of approximately 42,000 tonnes of ore per day at
0.31% Cu, and producing about 205,000 lbs of payable copper
or approximately US$750,000 revenue per day (plus gold by-
product revenue )
In 2011, the consortia sold its stake to Atlas financed by
Philippine’s largest bank, Banco de Oro for circa US$370m
Cebu - Philippines
Featured Project Developments – Masbate Gold Project
Project Development
Site of historic small scale mining prior to more significant
mining activity from 1979 until 1994. Mining ceased in 1994
while additional drilling and in-house studies occurred through
until 2002
The project was acquired from Thistle Mining at a feasibility
stage in 2006 by ASX and TSX-listed CGA Mining
PGMM management were key members of the Masbate
development team at the point of CGA Mining’s acquisition and
for the entire development and early operational phases
CGA Mining management (now PGMM) oversaw the US$250m
construction and commissioning of the project over a two year
period
At first gold pour in 2009 the project had Reserves of 3Moz and
was forecast to produce at a rate of approximately 200,000oz
per annum from a 4Mtpa plant. 2014 budget forecasts 190,000
to 200,000oz total production
In late 2012 CGA Mining divested Masbate in a transaction that
valued the project at approximately US$1b
Project Overview
Flagship gold mine in the Philippines with over 750,000oz produced
Historic mining site redeveloped into modern mining operation
Masbate - Philippines
Featured Project Developments – Additional Projects
Mine/Project Mine/Project Detail Role
Banahaw/Medusa Mine
– Philippines
UG mine - gold Managed permitting and development of initial small scale operation
Casa Berardi Mine
- Canada
UG mine - gold Expansion management
Indonesia Nickel
– Indonesia
OP mine - nickel General development management and operation of DSO nickel
operation
Kassandra Mines
– Greece
UG mines - lead, zinc and gold Management of mine upgrade and introduction of modern mining
methods
Lepanto Mine
– Philippines
UG mine - gold General management of mining operations and project expansion
Macasa/Lakeshore Mine
– Canada
UG mine - gold Management of mine redevelop and expansion
Massara Mine
– Philippines
UG mine - gold General management of the project development and operation
Mineral Hill Mine
- USA
UG mine - gold General manager and superintendent of mining operations
Mussle White Mine
- Canada
UG mine - gold Project development Superintendent
Runruno Project
– Philippines
OP mine – gold
(under development)
Conducted exploration and scoping activities leading to project
feasibility
The following table lists projects for which key members of PGMM senior management have been instrumental in developing:
Senior Management Overview
PG Mining Management
Mining Technical Mining Operational Business Development PGMM Continuity
Geology Focus Engineering Focus Management Project/ Company
Development
Years Association With Other PGMM
Management
Tim Armstrong 21 Years
Scott Robson 10 Years
Gary Leighton 7 Years
Dewayne Chambers 21 Years
PGMM senior management have expertise across key project development disciplines and have a history of working together
Senior Management - Profiles
Scott Robson
Scott Robson is an Australian national and a graduate of
Monash University, Australia, with a Bachelor of Science –
Geology and Geophysics. He has over 20 years’ experience in
the mineral industry in Australia and South-East Asia including
more than 9 years operating in the Philippines, China,
Indonesia and Papua New Guinea. His experience covers
underground gold mining operations, open cut gold deposits,
large porphyry copper-gold projects and nickel laterites
Scott started his career with major mining houses including
BHP and CRA Exploration in the early 1990’s and subsequently
held line management positions with a number of Australian
based mining groups including Resolute Samantha, Sons of
Gwalia, Mt Grace Gold Mining and Geochemex Australia. His
particular skill sets include resource and reserve estimation
and mine planning, mine design, scheduling and tailings dam
design
Tim Armstrong
Tim Armstrong is an experienced mining industry manager with
exposure to a range of management and operational roles in
Canada and Asia over the last 24 years
Substantial experience in managing a wide range of
underground mine developments including: declines, shaft
sinking, contract mining, design, remote operations and
contract administration
Tim’s most recent executive position was as Chief Operating
Officer at Carmen Copper Corporation. Prior to Carmen
Copper Corporation, Tim worked for CGA Mining at the
Masbate gold project (acquired by B2Gold Corporation) as the
Project Manager managing both the preconstruction activities
and mine development. He has also served as Vice President
of Project Development for TVI Pacific Minerals and had his
own contract drilling service company that worked with clients
in the Philippines, China and Taiwan. Other employers include
J.S. Redpath Mine Contractors & Engineers (1986 – 1993) and
TVX Gold (1993 – 1995). He holds a Masters in Mining
Engineering from Queens University in Canada
Senior Management - Profiles
Dewayne Chambers
Dewayne has over 20 years of mining development and
operations experience in North America and Asia
Operations manager with mine operations experience from
prefeasibility to full production. Specific expertise in costs
analysis, production, development, design, personnel /
equipment selection, property acquisitions
Dewayne’s most recent executive position as Senior
Operations Manager at Galeo Equipment and Mining
(significant multi-mine Philippine mining contractor) is focused
on new mine development and feasibility related assessments.
Prior roles include Project Director at United Paragon Mining
Corporation, Project Consultant at Carmen Copper
Corporation, Mining/Construction Manager for Filminera
Resources, Project Development Manager for Geograce’s
open pit and underground mining assets and General Manager
at TVX Gold’s Mineral Hill Mine
Dewayne holds a Bachelor of Science and addition other
mining and business specific qualifications
Gary Leighton
Gary Leighton is a qualified mining engineer with professional
management experience developing mines all over the world
over the last 40 years. Gary has overseen over 20 mining
project developments located around the world
Gary worked at a senior level with Tim Armstrong as a Project
Director at Carmen Copper Corporation from 2007 through to
the mine’s redevelopment
Prior to his role at Carmen Copper Corporation Gary was the
General Manager at Compania Minera Tamaya Scm, Chile
(2004 – 2006), Consultant to Golden Rose and Kinrade
Resource Limited (2000 – 2004), General Manager at Bema
Gold Chile (1996 – 2000), and Vice President Development at
Barrick Gold Corporation/ Lac South America (1994 – 1995)