COMMODITY
Gold

LOCATION
Ghana

STAGE
Production
 

• Discovered and started operation ’87

• Commenced mining ‘90/91

• Sold to Billiton (now BHP) ’95

• Currently produces +/-100,000 gold ounces/year

• +/-5 million ounces produced to date

COMMODITY
Gold

LOCATION
Ghana

STAGE
Production
 

• Discovered and started operation ’87

• Commenced mining ‘90/91

• Sold to Billiton (now BHP) ’95

• Currently produces +/-100,000 gold ounces/year

• +/-5 million ounces produced to date

COMMODITY
Gold

LOCATION
Ghana

STAGE
Production
 

• Principals purchased 15% interest in project for $4 million

• Sold in ’96-98 for $55 million

• Currently producing +/-500,000 ounces/year

• +/-10 million ounces produced to date

• Reserves estimated at 25+ million ounces

• Currently owned/operated by Gold Fields SA

COMMODITY
Gold

LOCATION
Saskatchewan, Canada

STAGE
Exploration

• Acquired and sold largest potash land position in Canada

• Funded ‘06 with $3 million in seed capital

• 24 months from undertaking resource estimate, sold to Chinese investors above 9X

COMMODITY
Zinc, Base Metals

LOCATION
USA, Canada

STAGE
Production
 

• ‘98 Founded Pan American Resources which became ONTZINC

• ‘03 Acquired U.S. zinc assets

• ‘04 ONTZINC acquired HUDBAY from AngloAmerican for $325 million

• Creates large base metal mining operations in Canada

COMMODITY
Gold

LOCATION
Kazakhstan

STAGE
Production
 

• Acquired contract to operate 3 gold mines ’96

• Invested +/-$30 million in exploration and mining activities‘96/97

• Dispute with Government over ownership

COMMODITY
Coal

LOCATION
South Africa

STAGE
Production
 

• Acquired coal leases in ‘06/07

• ‘07 operations commenced with JV partner GMR Energy

• GMR Energy acquired 100% of operations 2012

COMMODITY
Coal

LOCATION
Kentucky, USA

STAGE
Production
 

• ‘08 acquired producing thermal coal assets Kentucky, USA

• Raised $40 million in equity and went public in ’08

• Raised $12 million of debt financing

• Raised $20 million in streaming deal with Sandstorm Energy

• Raised $10 million in pre-sale and royalty transaction with Mercuria

• Operation ceased due to low commodity prices in ‘12

COMMODITY
Nickel

LOCATION
Quebec, Canada

STAGE
Development
 

• Founded Royal Nickel as a private corporation in ’06

• Raised $40+ million to advance property

• 2010 completed $55 million IPO

• Advanced project to bankable feasibility study

• Largest undeveloped open pit nickel deposit in world