Annamite was set-up in May 2019, and has moved successfully to a discovery earlier this year, despite 2 years of lockdowns. Laos has the strong feature of being under-explored, with many opportunities on projects that have been chronically under-funded and/or had poor quality technical work conducted. The result is that there are few existing, profitable mines in a country with excellent geological potential.
Our business model is the Project Developer model, with a strong presence, good knowledge of best projects and valuable network in the country. We to take advantage of this peculiar situation in Laos by sourcing and acquiring drill-ready or near drill-ready, valuable assets which can be moved up the value chain within two to three years to a resource estimate, followed soon after with a PEA. During the last 3 years Annamite has conducted due diligence on more than 25 projects. We selected the two best one. Sokdee is the standout project because of its known mineralized porphyry at Namthom, together with potential for epithermal and/or skarn deposits. The Sakai area projects, where we have already conducted scout drilling, rank a close second to Sokdee.
Annamite has received Government approval in late 2021 to proceed with our flagship exploration project with Lao Hyundae Black Stone Sole Co., Ltd (LHBS) on their Sokdee property. Annamite owns 70% of LHBS, with our shareholding to increase to over 80% after 3 years. Our first agreement had already been signed in August 2020 on a Joint Venture Agreement with Houaykham Daly Mining (HKD) in Sakai East. In parallel Annamite has signed in March 2022 a third opportunity with Lao Mining Development (LMD) state entreprise to explore new areas in Vientiane Province. All projects are located less than 100km from Vientiane with road easy access and water and power availability nearby.
Our aim is to become a successful Junior explorer in Laos and to list on a stock exchange when ready.
Paul Stephens Trust
Management Ownership – 43%
Main Findings after first scout drilling 2022 Program has defined three distinct mineralization styles in Sokdee concession with mineralization both near surface and at depth: Cu-Au-Mo porphyry , high grade Au-Cu-Ag veining (epithermal?) and high grade Au-Zn-Ag-Cu veining (epithermal/skarn?). Given these positive results , Annamite wants to progress its exploration program this year.
The location of Sokdee is attractive as 100 km NNW of Vientiane and 30km west of a new high-speed railway line and highway, plus hydroelectric power lines also located 30km away. It is a rural location, with low density farming and rubber plantations. Infrastructure and access costs will be favourable.
Raise minimum $1 million of $3 million raise and start second scout drilling campaign
Complete $3 million raise and advance exploration program at Namthom porphyry and adjacent targets with full drilling plan towards in-house resource estimate
Produce initial scoping report with valuation of the project and decide on our strategy for future raise and partnership, including listing
A new discovery with significant copper-gold-silver potential in an under-explored country, with a deposit perfectly located close to the capital Vientiane.
We have full government support given that over 25% of our shareholders are Lao nationals, plus a number of Asian investors involved.
There is now clear signs that the government wants to revive its mining industry by attracting serious and professional exploration investors to find new deposits.
1) Annamite has established itself in Laos successfully and managed to take over two attractive projects, having raised US2.3 million.
2) Our strategy to acquire a good quality portfolio of exploration projects that can be quickly moved to discovery stage with drilling is working and proven.
3) Our flagship Sokdee project has been significantly derisked and we are adding value by confirming the discovery of a significant porphyry system