Meeting Overview The meeting focused on the presentation of 1st Mining Gold's pre-feasibility study results for the Springpole project. Key highlights included the project's strategic significance, economic metrics, and updates on the mine plan and environmental considerations. Key Discussion Points - Introduction of speakers: Dan Wilton (CEO), Ken Inquist (COO), and Spiros Kakos (VP of Investor Relations). - Presentation of pre-feasibility study results for the Springpole project. - Declaration of 3.8 million ounces of gold reserves for the first time. - Economic metrics: after-tax NPV of $995 million, after-tax IRR of 29%. - Upfront capital costs reduced to approximately $720 million. - Payback period of 2.4 years for the project. - Environmental considerations: transition from a conventional tailings dam to a combined tailings and waste rock co-disposal facility. - Discussion on grade sensitivity and the potential for higher-grade ore extraction. - Projected annual gold productio...
Dan Wilton has 25 years of experience in M&A, corporate finance and principal investing in the mining sector, having executed as principal or advised on more than $10 billion of mergers, acquisitions and divestitures and more than $1 billion of financings. Dan was most recently a Partner at Pacific Road Capital Management, a mining-focused private equity investment firm with approximately $800 million under management.
Prior to joining Pacific Road, Dan’s previous roles included Managing Director and Head of the Global Mining and Metals Group at National Bank Financial Inc.; Managing Director in Business Development at General Electric based in London, England; and other corporate finance and M&A roles at global financial institutions based in Toronto and New York.
Dan currently serves as Vice Chair of the Board of Directors and is Chair of the Audit and Finance Committee for Providence Health Care in Vancouver, Canada. Dan holds a B.Comm (First Class Honours) from Queens University and an MBA (with Distinction) from INSEAD in France.
Ken brings over 25 years of engineering and project leadership experience to his role, and has extensive experience overseeing the advancement of assets through development. Most recently, he oversaw the development of various aspects of Tinka Resources’ Ayawilca project in Peru, and the feasibility engineering study for Arizona Mining’s Hermosa Zinc Project in the United States which was acquired by South32 Limited in the summer of 2018 for C$2.1 billion. Ken’s prior roles include Vice President of Project Development for Nevsun Resources where he was responsible for the Timok copper project in Serbia, and roles with Oxygen Capital, where he was responsible for advancing a portfolio of projects within Oxygen’s managed group of companies (True Gold, Pilot Gold and Pure Gold) through various stages of development from advanced exploration to the start of production. He has also held positions with AngloGold Ashanti and Rio Tinto. Ken holds a B.Sc. in Engineering from Michigan Technological University and is a registered Project Management Professional.
Replay transcript excerpt
Speaker 1: Hi, everyone, and welcome to 1st Mining Gold's live investment summit today, hosted by 6. I'm pleased to introduce our speakers for today. We are joined today by Dan Wilton, CEO and Director, Speaker 1: Ken Inquist, COO, Speaker 1: and Spiros Kakos, Vice President of Investor and Investor Relations. Speaker 1: Dan will kick us off by walking us through a company presentation, Speaker 1: and then Spiros, Ken, and Dan will come back to lead us through a live Q&A. Speaker 1: Remember, you can submit your questions at any time on the Q&A panel on the right-hand side of the screen. Speaker 1: The summit is being recorded and will be available to you to view afterwards on six.com. Speaker 2: So without further ado, I'll hand it over to you, Dan. Dasha, thanks very much. And thanks to everyone for joining us this morning. It's been a very exciting last couple of days as we've been Speaker 2: moving forward Speaker 2: and putting out this, the announcement of our pre-feasibility study results, which we're very, very happy about. So Speaker 2: without Speaker 2: much further ado, we're gonna be making some forward-looking statements as we go through this presentation. Speaker 2: Just in summary, I think we're Speaker 2: very happy with the results of Speaker 2: the Prefeasibility Speaker 2: Study and the direction that this is showing with the path that our Springpole project is going to take. I think it very clearly outlines this project as a real Speaker 2: strategic Speaker 2: Gold asset Speaker 2: in a Tier 1 jurisdiction. Speaker 2: And I think Speaker 2: these studies are the result of Speaker 2: this is in excess of a year of great work by a very big team that's helped pull it together. So I really want to thank all of our partners Speaker 2: who had helped ...
