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- MEGS Friday Luncheons/Technical Talks: $30
- MEGS Membership: $25
- Talk and Beverage (Water, Coffee, Pop): $10
Luncheon Details:
Date: Friday, April 19th, 2024
Location: Kerby Centre – downtown Calgary (1133 – 7th Ave. SW)
Doors open at 11:30 am
Talk starts at 12:00 pm (NOTE TIME FOR THIS LUNCHEON)
Membership: $25
Luncheon for Members: $30
Luncheon Non-members: $35
Talk and Beverage (Coffee, Juice, Pop): $10
University, SAIT, NAIT students: FREE with student ID (with purchase of membership)
NOTE: There is complimentary parking at the Kerby Centre. Parking lots are located beside the building (east) or across the LRT (North). Register your vehicle at Reception.
Presentation Abstract:
Element79 Gold Corp. (“Element79” or the “Company”, CSE: ELEM, FSE: 7YS0, OTC:ELMGF) is a publicly-listed gold and precious metals mining and exploration company focused on generating revenue in the near-term. The Company’s core strategy is to differentiate itself from its peers with a production-focused team geared to generate income from its high-grade, permitted past-producing gold and silver mine, Lucero, in 2024.
Lucero was Peru’s highest-grade gold mine in its operating time from 1998-2005. During that time, It operated at an average rate of 150tpd ore extraction with an average production grade of 19.0g/t AuEq and yielded between 40,000-50,000oz/yr AuEq production. All past production came from 3 areas, from 7 veins: Apacheta, Sando Alcalde and Pillune. Lucero is permitted for up to 350tpd of ore extraction today.
Focus on Lucero Mine:
- Element79 Gold Corp is transitioning from an exploration-focused company to a cash flow generating producer with the upcoming production at the Lucero Mine.
- Local Artisanal miners are currently producing an estimated 200-300 tons of ore per month, highlighting the potential of the mine.
- We have signed a letter of intent with a potential off-take partner for the processed material and look to be advancing this for offtake to start by mid-year 2024.
- Our completed a channel sampling program, with results expected in the next week or two. This data will be used to develop an underground and surface-level drilling program for April-July, leading to resource reporting and advance the project towards a preliminary economic assessment (PEA) within the year.
Corporate Portfolio Optimization:
- We continue divesting non-core assets to streamline our focus and generate additional value for shareholders.
- The spin-out of the Dale property as Synergy Metals Corp is nearing completion, with current shareholders due to receive shares of Synergy distributed to them upon completion.
- Last year’s asset sale to Centra Resources (forming part of a new entity that has a significant exploration potential in Nevada) plows forward, with Centra having recently completed its own 43-101 report on the Long Peak asset, a key step to Centra completing its go-public trajectory this year. Element79 will be using the shares that it receives from this company to strategically divest of over time, and to use the revenue from share sales to fund its own developments.
- The sale of the Maverick Springs property is expected to close around the end of May, with cash from the sale dedicated to paying down debt and outstanding AP, further strengthening our balance sheet and providing non-dilutive funding for continued Peru and Nevada exploration.
Looking Ahead:
- We are excited to share additional channel sampling, modelling and drill results from the Lucero Mine in the coming months.
- The Maverick Springs transaction will free up non-dilutive capital for continued exploration and development of our remaining Nevada assets, Clover and West Whistler.
- The Dale spin-out is expected to be completed by June, with shareholders receiving shares in the new company.
Presenter Bio:
James C. Tworek
James C. Tworek is the CEO of Element79 Gold Corp (CSE:ELEM, FSE: 7YS), a precious metals exploration and mining project development company with high-grade, previously-producing mines in Peru as well as exploration projects in Nevada (USA) and Canada.
James has held Director, Senior Management, Analytical and Operations roles in both public and private companies. A quick learn and entrepreneurial to the bone, his 25-year career started in banking in 1998 and he has garnered a wealth of experience across diverse industries between Commercial Banking, Mining, Project Finance, Mezzanine Debt, Oil and Gas, Clean Water/Envirotech and Hemp/legal Cannabis industries. His investing experience in real estate, private equity, private mining, startup generation, tech, and agricultural ventures.
A team leader driven by results, James has built his career on successfully executing development and corporate growth targets, exceeding sales objectives, and being mindful to ensure open communication, honesty and integrity with investors and stakeholders.
