KORE Mining

Website: www.koremining.com
Primary ticker: TSXV:KORE
Stage of development: Exploration, Development
Commodity: Gold
Project to promote: Imperial Gold Project
Project location: USA
Company presentation: Click here

Live financials

Cash: CAD$5M
Debt: Nil

Major shareholders:
Eric Sprott – 15%
Macquarie Bank – 9%
Management Ownership – 41%

KORE Mining Ltd (TSX-V: KORE | OTCQB: KOREF) has four 100% owned gold projects: two in California (Imperial and Long Valley) and two in British Columbia (FG Gold and Gold Creek).

KORE has two primary value-added channels:

(1) Exploration: deploying a strategic investment from Eric Sprott, KORE is actively exploring at three of its four projects to grow its already large gold resource base, and

(2) Developing Imperial: deploying a strategic investment from Macquarie Bank, KORE released a robust preliminary economic assessment (NPV5% = $343M, IRR = 44%, aftertax at $1,450/oz gold) on its the flagship Imperial oxide gold project.

KORE’s experienced management team and board are completely aligned with shareholders, owning 41% of the shares outstanding.

Management Profile

Scott Trebilcock, President, CEO & Director

Scott Trebilcock, President, CEO & Director, has over 25 years of experience as a process engineer, management consultant, and mining executive. Most recently he was Chief Development Officer of Nevsun Resources, responsible for strategy, corporate development, investor relations and exploration. Nevsun sold to Zijin Mining for $1.9 billion after a year-long contested defense process led by Mr. Trebilcock. Mr. Trebilcock also drove M&A at Nevsun, including the 2016 acquisition of Reservoir Minerals, and led Nevsun’s investor relations program for almost a decade. Mr. Trebilcock holds a B.Sc. in Chemical Engineering, an MBA from Queen’s University and is a Chartered Director.

What is your rationale for attending 121 Mining Investment?

Promote KORE Mining as an investment opportunity.

What recent news would you like to highlight to investors attending?

May 8: $3 million strategic investment from Eric Sprott and Macquarie Bank

May 19: Initial drill results at FG Gold yielding 76.5m of 1.1 g/t gold

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Exploration results at FG Gold, Imperial and Long Valley
Permitting the Imperial gold Project

What do you think makes your company such a compelling investment?

Currently undervalued – nearly 5M oz of gold resources across three projects and a robust PEA at Imperial.

Analyst Insight – provided by Independent Investment Research

Kore Mining is a TSX-V-listed exploration and development-stage company. Combined, the company boasts a multi-million ounce gold resource and is focused on the development of its Californian gold projects and unlocking value through discovery of its North American portfolio.

Kore has 5Moz of resources in all categories across three projects. Imperial Project in California has 2Moz of low-grade gold in oxide that can be cheaply and efficiently extracted by low capital heap-leaching. Kore also has a second 2Moz gold in oxide project in California and three exploration projects in Canada, one with a 1Moz gold resource.

The Imperial and Long Valley gold development project in California comprise development-stage assets, with over 141,225 metres of historic drilling. Each of the projects has the potential to host near-surface, open-pit, heap-leachable gold deposits. The projects combine low technical risk, high advancement potential and a low initial cost.

The Imperial project is a high-margin, oxide gold development with low cost open-pit mining and cyanide heap-leaching methods. The proposed project concept is similar to other mines in the area, namely the closed Picacho Mine and operating Mesquite Mine. Glamis Gold prepared a Final Feasibility Study in April 1996 that contemplated a run-of-mine (ROM) operation. The project boasts an historic oxide-only Proven & Probable Reserve of 89,567 Ktons @ 0.017 opt for 1,486,000 oz Au.

Kore recently announced a positive Preliminary Economic Assessment (PEA) for its Imperial Oxide Gold Deposit. Robust economics include US$ 343 million NPV5% post-tax with 44% IRR at US$1,450 per ounce gold. It’s a low capital intensity project. with only US$ 142 million in pre-production capital costs. The project is a technically simple, shallow open pit, run-of-mine heap leach operation with existing infrastructure, producing 146,000 ounces gold per year over 8 years for 1.2 million ounces total production.

Long Valley hosts a large near-surface gold-silver deposit 2.5 km long that is exposed on surface and provides excellent mining access. The gold deposit boasts a low strip ratio (1:1), broadly disseminated zones, and excellent oxide metallurgy averaging 79%. Gold-silver mineralization shows good continuity and includes zones of higher grade above 3.4 g/t Au.