COMPANY OVERVIEW - CORO Mining Corp.
COMPANY OVERVIEW - CORO Mining Corp.
COMPANY OVERVIEW - CORO Mining Corp.
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<strong>COMPANY</strong> <strong>OVERVIEW</strong> TSX: COP- Mar 2010<br />
BUILDING A NEW COPPER-GOLD DEVELOPMENT <strong>COMPANY</strong> IN<br />
SOUTH AMERICA<br />
www.coromining.com<br />
<strong>CORO</strong> is well positioned to take advantage of the increasingly positive outlook towards mining in Mendoza,<br />
Argentina through its San Jorge Copper-Gold Concentrate Project which has a very manageable CAPEX<br />
($277million) and a low operating cost (net cash cost $0.69 per pound of copper). Coro is currently awaiting<br />
the final approval of the Environmental Impact Study (“EIS”) which is anticipated in Q2 2010.<br />
<strong>CORO</strong> completed an Independent Preliminary Economic Assessment (“PEA”) in April 2008, which indicated the<br />
San Jorge Project had an NPV (@ 10%) of $220 million (Using a copper price of $2.00 /lb and a gold price of<br />
$600/ oz). The Company estimates using prices that better reflect current prices (copper price of $3.00 per lb<br />
and gold of $1,000/ oz) the San Jorge Project NPV (@10%) is $677 million.<br />
<strong>CORO</strong>’s experienced management team has also compiled an attractive exploration portfolio in Chile to provide<br />
a further pipeline of projects, thus growth. Coro’s Management is well supported by an experienced Board of<br />
Directors and a strong supportive shareholder base.<br />
SAN JORGE<br />
M&I<br />
RESOURCE<br />
2.1 billion lbs<br />
Cu<br />
1.2 million oz<br />
Au<br />
PERMIT<br />
Q210<br />
DFS<br />
Q211<br />
CAPEX<br />
$277m<br />
PROD.<br />
40,000 Cu (t)<br />
39,000 Au oz<br />
(16+yrs)<br />
At $3 Cu & $1,000 Au NPV (@10%) = $677m<br />
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SAN JORGE <strong>OVERVIEW</strong><br />
San Jorge (acquiring 100%) is a medium sized copper-gold porphyry project located in the Las Heras Department,<br />
Mendoza, Argentina. Las Heras is a pro-mining district where there is little or no competing agricultural interests, low<br />
population density and no competition for water resources (which exist on the property). Coro owns the surface rights<br />
through its ownership of a 120,000 hectare ranch. The Company has completed a pre-feasibility study (“PFS”) on the<br />
leachable copper resources and a preliminary economic assessment (“PEA”) on the secondary and preliminary copper<br />
resources.<br />
(Water source located on San Jorge property)<br />
PEA Concentrate Only Economics – Apr08<br />
Mine Life<br />
Initial Capital Cost (+/- 30%)<br />
16 yrs<br />
$277 m<br />
Total Cu Production (lbs)<br />
1,393 m<br />
Total Au Production (ozs) 629,000<br />
Cash Cost (Yrs 1-5) (per lb) $0.91<br />
Gold Credit (at $600/oz gold) $0.22<br />
Net Cash Cost $0.69<br />
NPV and IRR at $600/oz gold and $2.00/lb Cu<br />
After Tax IRR 28.6%<br />
After Tax NPV (@10%)<br />
$220m<br />
Environmental Impact Study<br />
EIS Submitted for Approval<br />
EIS Accepted for Evaluation<br />
UTN Appointed for Technical Review<br />
UTN Completes Independent Evaluation<br />
Sectorial Review<br />
Formal Public Meetings<br />
Environmental Minister Approval<br />
Provincial Ratification (EIS Approval)<br />
OCT 08<br />
MAR 09<br />
APR 09<br />
SEPT 09<br />
FEB 10<br />
Q110<br />
Q210<br />
Q210<br />
Domain Type Tonnes<br />
(millions)<br />
In Pit Resources - @ 0.30% Cu Cutoff<br />
CuT<br />
%<br />
Au<br />
(g/t)<br />
2<br />
Cu (lbs)<br />
(millions)<br />
Au<br />
(000’ozs)<br />
Enriched M&I 26 0.65 0.21 374 177<br />
Primary M&I 136 0.43 0.19 1,297 852<br />
Total M&I 152 0.48 0.20 1,671 1,029<br />
Oxides M&I 32 0.53 0.22 380 228
EXPLORATION <strong>OVERVIEW</strong><br />
The team of Alan Stephens (President & CEO) and Angelo Peri (VP Exploration) with their extensive backgrounds and<br />
success in mining industry for 30+ years is a huge asset to Coro <strong>Mining</strong> <strong>Corp</strong>. and will ensure that the Company always<br />
has an attractive and exciting exploration program.<br />
During the recent financial downturn the Company has managed to maintain its core exploration prospects and has<br />
recently completed successful short drill programs at Llancahue and Chacay.<br />
PROJECTS<br />
Llancahue<br />
(Cu, Mo, Ag)<br />
Chacay<br />
(Cu)<br />
Other Properties<br />
PIPELINE<br />
STRATEGY<br />
Staked in 2008. Two short drill programs in 2009 with Hole LLA07 highlighting an interception of<br />
100m at 1.38% Cu & 0.015% Mo & 3.8 g/t Ag and LR04 returning 36m at 2.43% Cu & 0.10% Mo<br />
& 5.8 g/t Ag.<br />
100% owned located 12km SE from Teck’s Relincho project. Significant past drilling by BHP and<br />
Anglo but assays not available. Coro drill testing in 2009 was highlighted with hole CHCRC09<br />
with an interception of 88m at 0.47% Cut with excellent solubility. Three of the four widely<br />
spaced holes intercepted the secondary enrichment blanket. Further drill testing planned in 2010<br />
Pocillas- Au, Talca Belt of Properties (15,500 hectares)-Cu/ Au, Gloria Property-Cu, Celeste-Cu<br />
To continue to acquire exploration prospects in Latin America to build a pipeline of projects<br />
<strong>CORO</strong> also holds a 20.6% interest (9,140,353 common shares) in Valley High<br />
Ventures (TSX-V: VHV) which has a 49% interest in the Cordero Property as<br />
well as other exploration properties within Canada. Valley High Ventures is<br />
led by Rob Cameron (President & CEO) who has extensive exploration<br />
experience.<br />
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CORPORATE INFORMATION<br />
FOR MORE INFORMATION:<br />
Contact: Michael Philpot<br />
Suite 1280 – 625 Howe Street, Vancouver BC, Canada, V6C 2T6<br />
Phone (604) 682 5546 Fax (604) 682 5542<br />
Investor.info@coromining.com – www.coromining.com<br />
(Photo of San Jorge Camp)<br />
DIRECTORS AND OFFICERS:<br />
Coro’s Board of Directors and senior management have a<br />
proven track record in exploration, development, financing and<br />
building successful mining companies. Coro is well-positioned<br />
to purse its objective of broadening the Company’s portfolio<br />
along with verifying and developing its principal properties.<br />
EXECUTIVES<br />
Alan Stephens - President & CEO, Director<br />
Michael Philpot - VP & <strong>Corp</strong>orate Secretary, Director<br />
Damian Towns - CFO<br />
Marcelo Cortes - VP Project Development<br />
Angelo Peri - VP Exploration<br />
Market Capitalization – February 28, 2010<br />
Shares Outstanding (million) 91.4<br />
Warrants Outstanding (million) 30.1<br />
Options Outstanding (million) 6.5<br />
Fully Diluted (million) 128.0<br />
Share Price $0.47<br />
Market Capitalization $43m<br />
OTHER DIRECTORS<br />
Robert Watts - Chairman, Independent Director<br />
R. Stuart Angus - Independent Director<br />
Rod Webster - Independent Director<br />
Alvin Jackson - Independent Director<br />
Gordon Fretwell - Non-executive Director<br />
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