Led by a management team with a proven record of adding shareholder value and taking projects to production, Foran Mining is forging ahead with the feasibility study for its wholly owned flagship asset, the McIlvenna Bay deposit. McIlvenna Bay is the largest undeveloped VMS deposit along the prolific Flin Flon Greenstone Belt, located in mining friendly Saskatchewan. An updated resource estimate was released in May 2019, significantly increasing and upgrading the previous resource from 2013. The primary metals within the McIlvenna Bay deposit are zinc and copper, with gold and silver also present.
Patrick Soares – President & CEO
Mr. Soares was appointed President and CEO of Foran Mining Corporation and to the Board of Directors in November, 2010. Mr. Soares was President and CEO of Brett Resources Inc. from late 2007 until its acquisition by Osisko Mining Corp. in May, 2010. During his tenure at Brett Resources, the market capitalization of the company increased from $60M to $370M.
Mr. Soares has held positions with Sutton Resources Ltd. (acquired by Barrick Gold), EuroZinc Mining Corp. (now part of Lundin Mining Corporation) and Aurizon Mines Ltd. Mr. Soares was Chairman of SnipGold Corp. (acquired by Seabridge Gold in June 2016).
What is your rationale for attending 121 Mining Investment?
We released an updated resource estimate in May 2019 and are currently preparing a feasibility study for our McIlvenna Bay deposit. We want to share our progress with investors and make them aware of our future plans for the project.
What recent news would you like to highlight to investors attending?
Updated Resource Estimate – May 28, 2019
Filed Technical Report – July 11, 2019
What are your key goals for the next 3, 6 and 12 months?
Continue preparing feasibility study
Issue feasibility study
Commence construction of McIlvenna Bay
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Softening base metals markets and the impact of the trade war on global growth. We are optimizing our project through a variety of means so that it can weather these economic storms.
In a sentence, what do you think makes your company such a compelling investment?
Zinc and copper are projected to be in deficit within 2 years. McIlvenna Bay could be in production to meet this demand gap. Our project is based in a safe jurisdiction, friendly to mining, near infrastructure and a trained workforce.