Cordoba Minerals Corp

Asset 1Cordoba Minerals 300x200px

Primary ticker: TSXV:CDB
Stage of development: Exploration, Development
Primary minerals: Copper, Gold, Silver
Project to promote: Alacran Project and Perseverance Project
Project location: Colombia for Alacran, Arizona USA for Perseverance
Website: www.cordobaminerals.com
Corporate presentation: Click here

Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is developing the Alacran Copper-Gold-Silver Project with the strategic partner JCHX, located in the Department of Cordoba, Colombia. Cordoba completed the FS for Alacran Deposit in Dec, 2023 and is now getting ready for detailed engineering phase. Cordoba is also exploring the Perseverance Copper Project in Arizona, USA, under a Joint Venture and Earn-In Agreement with Bell Copper Corporation. Cordoba currently holds a 51% interest in the Perseverance Project with the option to earn up to 80%.

Major shareholders:
Ivanhoe Electric Inc. – 62.79%
JCHX Mining Management Co., Ltd. – 19.81%
Management Ownership – 0.3%

Financials

Management Profile

Sarah Armstrong – Montoya
President & Chief Executive Officer
Ms. Armstrong-Montoya has held various senior management positions within the Ivanhoe group of companies since she joined in 2010. She was appointed as Vice President, General Counsel of the Company in 2016 and in June 2018 also appointed as President of subsidiary Minerales Cordoba S.A.S., managing all in-country operations in Colombia. Ms. Armstrong-Montoya has a legal background and previously worked at Xstrata Copper, Linklaters and Corrs Chambers Westgarth. She has extensive experience in emerging markets having directed many transactions throughout Asia-Pacific and Latin America, furthermore, she is fully bilingual in Spanish and English.

Peter Portka – Vice President Corporate Development
Mr. Portka has extensive experience as a senior financial and corporate development executive, having worked for a variety of organizations in the mining sector, including most recently as Chief Financial Officer at NorZinc Ltd., and Vice President of Finance at Quintana Resources Capital, a streaming and royalty division of a U.S. based multi-billion private equity fund. Mr. Portka holds professional designations in both Chartered Financial Analyst and Chartered Professional Accountant.

What is your rationale for taking part in 121 Mining Investment?

Getting ready for the upcoming financing. We are look for financing groups in equity, debt, royalty and streaming.

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

Alacran Project – Key highlights of 2023 Feasibility Study :
a. A Feasibility Study was announced in December last year for a project of US$360 million after-tax NPV 8% and 23.8% IRR with a 3-year payback period
b. The Alacran Project will be a conventional truck-shovel open-pit mine with 14.2-year mine life with average annual production of 39.5 million tonnes of mined material
c. The life of mine cash costs for copper, net of by- product, is US$1.35 per pound
d. The life of mine revenue will consist with about 75% of copper, 22% of gold and 3% of silver
e. Initial CAPEX is estimated to be approximately US$420.4 million
f. The completion of the Feasibility Study marks the beginning of the development phase for the Project
g. We have also filed the Environmental Impact Assessment report with Colombian authority in December 2023. This is two of the permits that are required to bring the Projection into construction stage. The other permit, Mining Technical Work Plan, was filed in November 2021.

Plans for next phase:
a. The next stage for the Project will be focused on detailed engineering work. We have started the selection process for detailed design and engineering and procurement contractors.
b. Initial mine construction is also anticipated to start in Q3 this year. We plan to have the Alacran Project into commercial production by late 2026.

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Commence of detailed engineering for Alacran Project

6 Months:

Kick off financing processing for $420 M and peak funding for $480

12 Months:

Continue advancing the Alacran Project towards construction

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Most people are curious about the government and community relations when developing projects in Colombia. Cordoba established cooperative relationships with the government bodies from grass root up to the federal level. Alacran Project is designated as a Project of National Interest by the Colombian government. The project locates in the Cordoba region with two operating open-pit mines in close proximity of the project, so the local communities and government are familiar and support mining operations. We have a mobile social team and partnered up with SENA (National Training Agency of Colombia) to engage with local communities to implement robust social and training programs for the communities within the area interest of the project.

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

We have the major components to develop an economical and sustainable project well underway.
A robust FS was published in December 2023 for the Alacran Project. The Alacran Project is considered a national interest being supported by the local government and communities. Two permits (PTO and EIA) required for construction and operation of the mine are well underway with a timeline to move into production in Q3 2026. The copper production of the project coincides well with the global growing copper demand for green energy transition.

What are the top 3 key investor takeaways?

1. The company has strong support from it’s majority shareholder of Ivanhoe Electric (Robert Friedland) and lead by experienced management team that successfully discovered and developed world class copper projects, such as OyuTolgoi in Mongolia,
2. A economical copper project (confirmed by FS in 2023 ) with cooperative communication with Colombian government and local communities,
3. Progressive de-risking timeline getting the project ready for production by end of 2026 to feed the increasing long-term copper demand in green energy transition.