Corporate Presentation December 2013
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Transcript of Corporate Presentation December 2013
![Page 1: Corporate Presentation December 2013](https://reader033.fdocuments.in/reader033/viewer/2022060107/554bf998b4c9053f078b46ec/html5/thumbnails/1.jpg)
TSX.V: PRB
DECEMBER 2013 TSX.V: PRB
Borden Discovery Outcrop
Building Ontario’s Newest
Gold District
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TSX.V: PRB
Cautionary Notes
Disclaimer
This presentation contains a review of the Company’s projects in Canada. Viewers are
cautioned that the projects are at an early stage of exploration and that estimates and
projections contained herein are based on limited and incomplete data. More work is
required before the mineralization on the projects and their economic aspects can be
confidentially modeled. Therefore, the work results and estimates herein may be
considered to be generally indicative only of the nature and quality of the projects. No
representation or prediction is intended as to the results of future work, nor can there be
any promise that the estimates herein will be confirmed by future exploration or analysis,
or that the projects will otherwise prove to be economic.
Forward-Looking Statements
This presentation includes certain "forward-looking statements". All statements other
than statements of historical fact, included in this release, including, without limitation,
statements regarding potential mineralization and reserves, exploration results, and
future plans and objectives of Probe, are forward-looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially form those
anticipated in such statements.
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TSX.V: PRB
Investment Highlights
Borden: A Growing High-Grade Gold Project in Ontario, Canada Low geopolitical risk
Pit-constrained Resource over 4.3 MMoz @ 1.03 g/t Au (January 2013)
Continued high-grade intercepts in the southeast, 800 metres in step-out drilling
Significant, ongoing, resource growth potential
3.0km of strike length identified and still open in both directions
Experienced Management Team Strong history in exploration, mining engineering & capital markets
Strong Financial Position $38 million at July 31st, 2013
Well funded to continue de-risking through engineering and permitting
Completed a $15 million financing in May 2013, Agnico Eagle owns 9.9% of Probe Mines’ issued
and outstanding shares on a non-diluted basis
Potential for New Discoveries Two major discoveries: Borden Gold & Black Creek Chromite
Strong exploration potential: Over 400 square km of new ground within the Borden Belt
Ongoing strategy to consolidate the Borden Belt
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TSX.V: PRB
Patrick Reid, B.A. Chairman of the Board Past President of the Ontario Mining Association
David Palmer, Ph.D., P.Geo. President, Chief Executive Officer & Director Over 20 years in the Mining Industry
Michael Petrina, MBA, P.Eng. Chief Operating Officer Over 25 years of experience in Operations, Engineering & Mine Development
Patrick Langlois, MBA, CFA Vice President, Corporate Development Over 15 years of experience in Corporate Development & Investment Banking
Carmelo Marrelli, CA, CSA Chief Financial Officer Experienced Mining Accountant
John Gammon, Ph.D. Director Former Assistant Deputy Minister of Mines for Ontario
Gordon McCreary, MBA, P.Eng. Director Former officer of Kinross and Baffinland, currently President & CEO of Castle Mountain Mining
Dennis Peterson, B. Comm, LLB Director Corporate Securities Lawyer, Small Cap Mining Expertise
Basil Haymann Director Entrepreneur, currently Chairman of Guard-All Building Solutions
Strong Management Team
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Analyst Coverage
BMO Capital Markets John Hayes
Cormark Securities Tyron Breytenbach
Mackie Research Barry Allan
Macquarie Capital Markets Pierre Vaillancourt
MGI Securities Marc Pais
RBC Capital Markets Sam Crittenden
Stonecap Securities Ali Khan
Major Shareholders Holdings (I&O)
Institutional/Strategic Investors:
Agnico Eagle, Macquarie, Sprott,
Sentry, BMO, Goodman, Fidelity,
Seamans, K2, etc.
~ 50%
Management & Directors 6%
Probe Mines Limited Symbol: PRB
Listed Exchange Toronto Venture
Market capitalization $181.7 million
Shares outstanding (basic) 75.7 million
Shares outstanding (fully diluted) 88.1 million
Cash Balance (07/31/13) $38 million
Debt None
52 week trading range $1.10 - $2.47
Recent Price (11/29/13) $2.40
Corporate Summary
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TSX.V: PRB
Ontario: Mining Friendly Jurisdiction
BORDEN GOLD
Favourable and well-developed infrastructure,
1 km from paved highway and power
Pit-constrained Resource over 4.3 MMoz at
1.03 g/t Au, still expanding and improving in grade
High-grade zone expanding and open along strike
Significant, ongoing, resource growth potential
Potential for low CAPEX
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BLACK CREEK CHROMITE
Strategically located between Cliffs Natural Resources’
Black Thor and Big Daddy deposits
Over 10Mt of high-grade chromite in open-pitable deposit
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TSX.V: PRB
BORDEN GOLD – REGIONAL GEOLOGY-LOCATION
Chapleau Area Infrastructure
• Close to numerous
mining districts
• Excellent access &
local infrastructure
Only 9 km from Chapleau
1 km to Highway/Power
10 mins to Rail
• Within the Kapuskasing
Structural Zone
Underexplored
• Community
Receptive to new industry
• First Nations
Agreement in place
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New Gold District
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TSX.V: PRB
High-Grade Gold Zone Expanding
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Winter 2014 Drill Program
potential for 1km
of additional strike length
Since discovery
(December 2010)
517 drill holes
completed,
representing over
150,000 metres
BORDEN GOLD – DRILL PLAN
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TSX.V: PRB
High-Grade Continuity in the Southeast
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Hole Section
Width
(m)
Gold
(g/t)
BL13-374 800m SE 15.0 5.7
BL13-358 900m SE 36.5 4.5
including 11.7 11.5
BL13-431 950m SE 21.1 5.2
BL13-421 1100m SE 29.4 5.9
including 6.5 15.3
BL12-256 1200m SE 51.0 10.3
including 25.0 17.8
BL13-399 1250m SE 26.1 8.5
including 17.7 12.0
BL13-420 1300m SE 47.0 6.8
including 8.0 32.7
BL13-455 1500m SE 44.4 4.0
including 14.3 11.1
BL13-458 1600m SE 41.0 5.1
including 11.6 15.1
BL13-378 1700m SE 25.0 4.6
including 12.9 7.4
BL13-402 1800m SE 27.1 6.4
including 9.2 11.1
BL13-477 1850m SE 31.3 4.0
including 23.5 5.5
BL13-403 1900m SE 39.0 5.0
including 13.0 11.2
BL13-485 2000m SE 24.2 4.1
Consistent Zonation with the
high-grade zone
68 drill holes completed in the
high-grade zone representing
~32,000 metres of drilling
Section 1200m SE
BORDEN GOLD – LONGITUDINAL SECTION
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TSX.V: PRB
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PIT-CONSTRAINED NI 43-101 RESOURCE ESTIMATE, JANUARY 2013*
Resources
Category
Cut-off Grade
(g/t gold)
Tonnes
(000’s)
Grade
(g/t gold)
Gold (oz)
(000’s)
Indicated
Inferred
1.5
1.5
14,452
2,545
2.34
2.61
1,086
214
Indicated
Inferred
1.0
1.0
37,600
6,351
1.64
1.77
1,982
361
Indicated
Inferred
0.5
0.5
112,844
18,036
1.02
1.08
3,686
625
Pit-constrained Resource of 4.3 MMoz at 1.03 g/t Au average grade at a 0.5 g/t Au cut-off
85% of the total Pit Constrained resource is in the Indicated category
*Mineral Resources Statement, P&E Mining Consultants Inc.
Borden Gold - Resource, January 2013
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TSX.V: PRB
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Pit-constrained Resource Growth to 4.3 MMoz Averaging 1.0 g/t
Discovery Cost < US$4/oz
Resource Growth
DateAccumulative
drilling
Number of
Drill holes Resources Growth (M oz)
313 drill holesJanuary 2013 94,000m
August 2011 21,662m 78 drill holes
35,000mApril 2012 167 drill holes
2,796,000
683,000
625,000
253,000
2,735,000
3,686,000
Inferred
Indicated
(Global Resource Estimate)
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TSX.V: PRB
• Over 350 square
km of unexplored
ground within the
Borden and
associated Belts
• High potential for
new discoveries
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LAND POSITION
Potential for New Discoveries
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TSX.V: PRB
0
25
50
75
100
125
150
Nov-12 Feb-13 May-13 Aug-13 Nov-13
Probe Mines +13.7%
Exploration Peers Avg. (64.0%)
Gold Spot (28.7%)
S&P/TSX Global Mining (19.1%)
Base =
100
PRB Relative Performance
RELATIVE PERFORMANCE
Source: FactSet as of 27 November, 2013
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TSX.V: PRB
Advancing Borden Gold
Discovery in 2010
Infrastructure
NI 43-101 Resource Estimate (3)
Size
Grade
Advanced metallurgy
Mining team
Strong treasury
Expansion and infill drilling of the high-grade zone
Land acquisition
Updated NI 43-101 Resource Estimate
Preliminary Economic Assessment (PEA)
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TSX.V: PRB
Contact Information
Tel: (416) 777-6703
Fax: (416) 777-6705
Email: [email protected]
Website: www.probemines.com
Head Office
56 Temperance Street, Suite 1000 Toronto, Ontario M5H 3V5
David Palmer, Ph.D., P.Geo. President and CEO (416) 777-6703 Patrick Langlois, MBA, CFA Vice President, Corporate Development (416) 777-6703
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