Arizona Sonoran Discusses $35 Million Financing, including Strategic Investment by Rio Tinto
Join us for a great event!
Tue, May 3, 2022 at 10:00 AMendedReplay
Investor webinar replay
Meeting Overview The meeting focused on the recent developments and future plans of Arizona Sonoran Copper Company, including significant investments from Rio Tinto and Tembo Capital, updates on drilling activities, and upcoming technical studies. The presentation emphasized the company's financial health, strategic objectives, and the anticipated timeline for copper production. Key Discussion Points - Introduction of George Ogilvie, President and CEO of Arizona Sonoran Copper Company. - Announcement of a strategic investment from Rio Tinto of up to $10 million and an additional $6 million from Tembo Capital. - Overview of the company's debt-free status and its implications for upcoming bankable feasibility study negotiations. - Update on drilling activities at Park Salier and Bronco Creek, including the completion of initial drilling and plans for expanded programs. - Discussion of metallurgical testing and its potential impact on resource extraction. - Insights into the company's ...
President, CEO & Director at Arizona Sonoran Copper Company
George Ogilvie, has over 32 years of management, operating and technical experience in the mining industry. Mr. Ogilvie was until most recently the President & CEO of Battle North, a position he was appointed to, in 2016 whilst the company was under financial insolvency & restructuring proceedings. During his 5 year tenure at Battle North, Mr. Ogilvie and his team successfully completed a turnaround of the company resulting in an increase in the resource base from 400 k ounces Au to approximately 1.3 million oz Au, completion of a positive bulk mining reconciliation program resulting in de-risking of the project, delivery of a preliminary economic assessment and follow on feasibility study in relation to the project with a post-tax IRR of 50% and completion debt and equity financing of over C$100m associated with project construction. Battle North was acquired by Evolution Mining Limited in May 2021 at a 45% premium to the prevailing spot price. Prior to this, Mr. Ogilvie was the CEO of Kirkland Lake Gold Inc. where he and his team implemented a turnaround strategy which included, amongst other items, improving operations at the Macassa Mine and the acquisition of St. Andrew Goldfields, resulting in significant returns for shareholders. Previously, Mr. Ogilvie was the CEO of Rambler Metals and Mining PLC, where he and his team guided the evolution of the company from grassroots exploration to a profitable junior producer. Mr. Ogilvie began his mining career in 1989 with AngloGold in South Africa and he subsequently held other roles at the Ruttan Mine in Northern Manitoba for HudBay Minerals Inc., the McCreedy West Mine and also as Area Manager for Dynatec Corporation. Currently, Mr. Ogilvie also serves on the board of Rupert Resources Ltd.
Mr. Ogilvie received his B.Sc. (Hons.) in Mining and Petroleum Engineering from Strathclyde University in Glasgow, Scotland. He is a Professional Engineer and also holds his Mine Managers Certificate (South Africa).
Resource Geologist at Arizona Sonoran Copper Company
Anthony is a Consulting Resource Geologist with over 22 years of experience in the mining industry
and expertise across numerous countries and a range of commodities: from low tonnage high
grade precious metals to bulk tonnage base metals. He provides resource modeling and technical
services consulting skills for underground and open pit projects, from exploration and development
through to production.
Anthony was previously the Corporate Mineral Resource Manager for Klondex Mines Limited and
has worked for various mining companies including BHP Billiton and Newmont.
Anthony is the Principal Resource Geologist for InterGEO Resource Consulting based in Brisbane
Australia, He has a bachelor’s degree in Geology with Honours in Structural Geology from the
University of Adelaide and is a member of the Australian Institute of Mining and Metallurgy
(AusIMM).
Replay transcript excerpt
Speaker 1: Well, hello, everyone, and welcome to Arizona Sonoran Copper Company's live summit today hosted by 6. I'm very pleased to introduce Speaker 1: George Ogilvie, President and CEO and Director of Arizona Speaker 1: Sonoran Copper Company. Speaker 1: George is going to walk us through a company presentation and then we will be accepting questions live. So as a reminder, you can submit questions at any time on the Q&A panel on the right hand side of the screen. And we're gonna try to get to them after the presentation portion is over. And as always, the summit is being recorded and available to watch afterwards on six.com. But without further ado, I'll hand it over to George to get us started. Speaker 2: Great, thank you, Dasher. And thank you to 6 for the opportunity to present here today. Speaker 2: Obviously, it's Arizona Sonora Copper Company, and the title of our presentation is Copper, Invest in Sustainability. Speaker 2: We do make some forward-looking statements, so I'll draw your attention to the cautionary language. Speaker 2: I just want to touch on some of the recently completed Speaker 2: points Speaker 2: that the company objectives that the company has delivered on. Obviously, I'm sure everybody saw Speaker 2: several days ago we announced that Rio Tinto Speaker 2: was making a strategic investment in the company of up to $10 million. Speaker 2: On top of that, we also Speaker 2: saw Tembo Capital, our large controlling shareholder, Speaker 2: also invest $6 million. Speaker 2: And then we had some Speaker 2: additional and current Speaker 2: shareholders invest in the company, taking up Speaker 2: the total non-brokered Speaker 2: private placement to 35 million Canadian dollars. Speaker 2: So that now leaves us in a position where we have no de...
