Pasofino Gold
Primary ticker: TSXV:VEIN OTC:EFRGF
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Dugbe Project, Liberia
Project location: Liberia
Website: www.pasofinogold.com
Corporate presentation: Click here
Pasofino Gold Ltd. is a Canadian-based mineral exploration company listed on the TSX-V (VEIN), OTCQB (EFRGF), and FSE (N07A).
Through its wholly-owned subsidiary, ARX Resources Limited, Pasofino ownes 100% (prior to the issuance of the Government of Liberia’s 10% carried interest) of the Dugbe Gold Project.
More information is available at www.pasofinogold.com
Cash: CAD 3M
Debt: NIL
Major shareholders:
HUM PLC – 51%
Management ownership – 6%
Financials
Management Profile
Brett Richards – CEO
With over 37 years of extensive experience in the mining and metals industry, Mr. Richards is an accomplished mining executive with a proven track record in operational management, project development, construction, and corporate business development. Mr. Richards has held several CEO roles and currently serves as a director on the boards of Nickel 28 Capital Corp., Goldshore Resources Inc. and Midnight Sun Mining. Throughout his career, Mr. Richards has demonstrated exceptional leadership in driving transformational change, leading mergers and acquisitions, and excelling in mine financing and development, particularly in West Africa.
Ian Stalker – Strategic Advisor
Mr. Stalker is a senior international mining executive with over forty-five years of “”hands on”” experience in resource development, mine construction and operations in Europe, Africa, South America, and Australia. Ian has been responsible for managing development of over twelve major mining projects from initial exploration drilling to start-up, including numerous mining projects in Africa -Trekkopje, Siguiri, Geita, Bibiani and Obuasi open pit. Ian is also a director of K92 Mining Ltd and is the former CEO of various mining companies listed on the TSX and AIM.
What is your rationale for taking part in 121 Mining Investment?
We are looking to gain increased awareness to our project with the hopes of attracting investors both now and when we seek additional financing to develop the project.
What recent news would you like to highlight to investors attending?
FEASIBILITY STUDY COMPLETED
Feasibility Study (FS) Completed June 2022*
Lead by DRA Projects, a global leader in gold project design and build.
Resource Estimates, geotechnical and environmental by SRK UK Limited
The NI 43-101 can be viewed on Sedar Plus.
LARGE ASSET TO EXPAND FURTHER
3.3 Moz gold in Measured & Indicated Mineral Resource (MRE) @ 1.37 g/t Au
Includes 2.88 Moz @ 1.58 g/t
67koz of Inferred Mineral Resources (average grade 1.25 g/t Au) within and adjacent to the FS pit is upside
Both deposits remain open for expansion
Multiple gold mining sites and targets remain undrilled
LOCATION AND SUPPORT
Liberia has a well-established mining industry and is pro-mining
Project is only ~76km from Greenville port
Access corridor upgraded by Pasofino 2021
Mineral Development Agreement for project issued 2019
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Greater awareness of Liberia as an investment destination and more knowledge in the public domain that Pasofino owns 100% of the Dugbe Gold Project – with a Project pr-tax NPV circa $1.8 billion at current gold price.
6 Months:
Continue the awareness campaign in search of key investors. Also focus on the potential to deliver higher metallurgical recoveries for the project resulting in better all round economics.
12 Months:
Construction funding and decision
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
The key risks are all centered around ensuring that we secure the appropriate arrangements to construct the mine in an environment of increased costs. We are delighted that we have made strides to reduce fuel costs by moving away from Diesel to Solar PV and LNG.
What do you think makes your company such a compelling investment?
– 100% ownership interest in the Dugbe Gold Project
– 2.3 Moz gold production over 14 years from open pits with low strip ratio
– Tenure secured. Mineral Development Agreement gives 25-year mining right
– Advanced project – Feasibility Study completed June 2022 by DRA Projects
– Solid economics: NPV5% of 690M, 26.4% IRR (pre-tax)
– Resource upside. Potential to add multiple Moz deposits within 10 km radius of existing deposits. Drill retargets with gold in outcrop.
– Undervalued. Enterprise value of US$4.5 per oz gold in Measured and Indicated Resources
– Further gains to the FS economics expected from resource, reserves, power, processing, trucking
What are the top 3 key investor takeaways?
FEASIBILITY STUDY COMPLETED
– Feasibility Study (FS) Completed June 2022*
– Lead by DRA Projects, a global leader in gold project design and build.
– Resource Estimates, geotechnical and environmental by SRK UK Limited
– The NI 43-101 can be viewed on Sedar Plus.
LARGE ASSET TO EXPAND FURTHER
– 3.3 Moz gold in Measured & Indicated Mineral Resource (MRE) @ 1.37 g/t Au
Includes 2.88 Moz @ 1.58 g/t
– 67koz of Inferred Mineral Resources (average grade 1.25 g/t Au) within and adjacent to the FS pit is upside
– Both deposits remain open for expansion
– Multiple gold mining sites and targets remain undrilled
LOCATION AND SUPPORT
– Liberia has a well-established mining industry and is pro-mining
– Project is only ~76km from Greenville port
– Access corridor upgraded by Pasofino 2021
– Mineral Development Agreement for project issued 2019