Ghost013a : MIN
Indicated Resource of 3.21 Billion lbs of Oxide Copper (511 M tons @ 0.31%) Amenable to In-situ Recovery (ISR) Plus an additional inferred resource of 0.88 Billion lbs of oxide copper (159 M tons @ 0.28%) Mineral resources that are not mineral reserves have not demonstrated economic viability.
Highlights from November 2011 PEA
• After tax NPV of US$562M (7.5% discount using $2.50 copper price)
• After tax IRR of 30%
• Initial costs of US$325M (Payback in 3.6 years)
• Operating costs = US$0.68 per pound
• Royalty = US$0.01 per pound
• Production of 85M pounds per year
• Life of Mine = 20 years
SHARES OUTSTANDING: 59.9 M
FULLY DILUTED: 80.0 M
CASH & CASH EQ: $2.5 M (as of September 30, 2012)
RECENT PRICE $0.21
MARKET CAP $13 M
AVERAGE DAILY VOLUME: 59,429
(last 3 months)
Management 18.0 %
Sullivan Family Trust 16.2 %
M Partners Ingrid Rico February 22, 2012
Euro Pacific Merrill McHenry February 9, 2012
Mackie Research Barry Allan & Raveel Afzaal December 2, 2011
Northern Securities Kwong-Mun Achong Low May 17, 2012
Union Securities Philip Ker December 2, 2011
2012 Pre-Feasibility program:
-Up to 5 diamond drill holes for metallurgical testing, with up to 10 column leach tests.
-Up to 10 large diameter percussion holes for hydrological test wells.
-Extensive geophysical testing for hydrology.
-Up to 5 percussion holes (wells) for base line environmental studies.
Timeline to Production:
Mine Construction Q1 2014-Q3 2014
Pre-Production Q2-Q3 2014
First Production Q4 2014
Stephen Twyerould, Ph.D.
President & CEO
Over 23 years of industry experience and a working knowledge of Arizona; helped take Reliance Mining from a A$3 million market cap to A$100 million in four years.
Roland Goodgame, Ph.D.
Director & VP of Exploration
23 years of experience with WMC Resources Ltd. and Anglo-American; has extensive knowledge of copper exploration and project evaluation.
Mark Morabito, J.D
Chairman of the Board
Founder of several exploration companies; over 15 years’ experience in public markets with a strong focus on junior mining with extensive experience in capital-raising and corporate development.
Notable Members of the Board of Directors Jim Kolbe – Eleven-term member of the US House of Representatives for Arizona’s 8th Congressional District. Steve Lynn – Former VP of UniSource Energy and Tucson Electric Power Company