Strategic Resources

Primary ticker: TSXV: SR
Stage of development: Development
Primary minerals: Direct reduction iron pellets, pig iron, vanadium and titanium
Project to promote: BlackRock Project
Project location: Quebec, Canada
Website: www.strategic-res.com

Strategic Resources is planning to be a North American supplier of green steel inputs. Phase 1 will build a 4Mtpa direct reduction iron pelletizer at Port Saguenay. Construction is planned for 2026. Phase 2 will look to develop hot briquetted iron production. Phase 3 will produce high-purity pig iron, vanadium and titanium.

Cash: CAD$6M
Debt: N/A

Major shareholders:
Quebec Government – 41%
Orion Mine Finance – 41%
Ross Beaty’s Lumina Group – 4.5%
Cree Nation – 2.6%
Aurion Resources – 2.3%
Management Ownership – 0.70%

Financials

Management Profile

Scott Hicks, EVP Corporate Development & Director

Mr. Hicks is a former investment banker working with RBC Capital Markets and BMO Capital Markets on their respective mining teams. He also served as VP Corporate Development and Communications of Anfield Gold Corp., which was acquired to create Equinox Gold Corp and Luminex Resources Corp., which was acquired by Adventus Mining Corp. He currently serves as the EVP Corporate Development and Director of Strategic Resources Inc., VP Corporate Development and Communications of Lumina Gold Corp. and as a Director of Fuerte Metals. Over the last two decades, he has worked on a variety of equity, debt and advisory assignments while working in Canada and Australia. Mr. Hicks holds a Bachelor of Commerce with Honours from the University of British Columbia.

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

Market awareness and potential project financing / partnerships.

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

July 2024 – Engages Lead Bank for its Construction Financing Package

Nov 2024 – Signs High Purity Iron Ore Supply and Offtake Agreements with Javelin Global Commodities along with a US$150 Million Working Capital Facility

Jan 2025 – Announces Collaboration Agreement with Tacora Resources

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

3 Months:
Securing third party iron ore concentrate feed.

6 Months:
Feasibility study on the Phase 1 pellet plant.

12 Months:
Debt and equity financing package to start construction.

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

Completing the project financing to start construction in 2026.

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

Permitted project in a great jurisdiction with government support.

What are the top 3 key investor takeaways?

Phase 1 offers a high margin business with a lower initial capital.

The government support at the port and for the project capital is unique to Strategic.

Two mining projects and a permitted hot briquetted iron project offer upside to the Phase iron pelletizer.