Proactive, a digital financial news organization, will be showcasing three rising stars of the mining industry with its third North American virtual investor conference.
The event will feature live webcast presentations from Canadian companies who have interesting projects around the world. Delegates will also be given the opportunity to put their questions to the presenters.
Joining Proactive’s One2One Virtual Investor Forum at 1 pm ET on July 7 are:
- Aneel Waraich, executive vice president and director of Steppe Gold Ltd (TSE:STGO)
- Glenn Mullan, chairman and CEO of Golden Valley Mines Ltd (CVE:GZZ)
- Ali Haji, CEO of privately-owned Ion Energy Ltd, which has plans of listing on the TSX Venture Exchange
Betting big on Mongolia
Toronto-headquartered Steppe Gold Ltd’s flagship Altan Tsaagan Ovoo gold mine in Mongolia is ramping up production. In April, Steppe announced a successful first gold pour and the company has sold nearly 15,389 ounces of gold and 4,978 ounces of silver in six separate deliveries, generating net cash flow after royalty payments of around $25.3 million.
The miner remains on track to generate around 60,000 ounces of gold in its first year at cash costs of around $500 per ounce. It’s now working to expand the open pit and processing facilities to increase output, targeting 150,000 ounces a year.
WATCH: Steppe Gold encouraged by Mongolian election results as the company pushes forward on project
“We have another four years of a stable, supportive government in Mongolia. We landed an investment from the sovereign fund in Mongolia, so they are very supportive of new gold producers like us and foreign investment,” Waraich told Proactive.
The group has a second project in Mongolia — the Uudam Khundii project — where it has begun exploration, with a trenching program underway, which will be followed by an initial drilling program.
Interests in gold and base-metals projects
Meanwhile, Golden Valley Mines, together with its subsidiaries holds multiple property interests in gold, base-metal and energy mineral projects in Canada. Golden Valley Mines holds around 44.8% interest in Abitibi Royalties Inc, approximately 38.3% in Val-d'Or Mining Corporation, and 13.4% interest in International Prospect Ventures Ltd.
Significantly, Golden Valley Mines leverages its partnerships to advance exploration on its projects while minimizing dilution to its shareholders.
“It’s attractive because Abitibi Royalties, which is named after that region in northern Quebec, actually owns a royalty on the largest gold mine in North America. If you start with a royalty on the largest gold mine in North America, that’s a very good asset to own,” Mullan told Proactive.
Mullan has also been heavily involved in the Prospectors & Develops Association of Canada (PDAC), which is one of the leading global associations in the resource space.
Player in booming lithium market
The virtual investor conference will be rounded out by ION Energy, a company with one of the largest exploration licenses in Mongolia, poised to become a significant player in Asia’s booming lithium market.
WATCH: Ion Energy continues its preparation to list on the TSXV while providing funding timelines
Lithium-ion batteries have become the battery of choice in many consumer electronics such as laptops and cell phones. One country has seized the momentum and established a commanding market lead over its competitors in this space. But it’s not the US, where much of the critical research and development that created the lithium-ion battery took place. China is in the driving seat with a number of lithium battery factories and five new planned gigafactories.
Significantly, ION Energy’s Baavhai Uul lithium brine project, spread over 80,000 hectares is strategically located 30 kilometers from the Mongolia-China border crossing.
Proactive is one of the fastest-growing financial media portals in the world, providing breaking news and analysis on companies across the globe. Proactive regularly organizes large investor events in London, New York, and Sydney.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive