20240222 Calibre February 2024 Investor Presentation
Gq corporate-presentation-jan2013
1. Click to edit Master title style
TSX-V:GQ
A MINE OF
OPPORTUNITIES
Corporate Presentation
January 2013
2. Disclaimer
This presentation contains forward-looking statements or forward-looking information within the meaning of applicable
securities legislation (hereinafter collectively referred to as "forward-looking statements") concerning the Company's plans
for its properties, projects, operations, subsidiaries and other matters. These statements relate to analyses and other
information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of
management regarding operations of the Company which are subject to a variety of business and market risks, including
political and regulatory risks associated with mining and exploration in Mali.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or
"does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that
certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and may be forward-looking statements.
These forward-looking statements are based on certain assumptions which the Company believes are reasonable, however,
forward-looking statements are subject to a variety of business and political risks and uncertainties. Some of the important
risks and uncertainties that could affect forward-looking statements are also described in the Company's continuous
disclosure filings made with Canadian securities regulatory authorities, which are available at the SEDAR website and on the
Company’s website. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove
incorrect, they may adversely affect the Company’s business and prospects and actual results may vary materially from
those described in forward-looking statements. Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-
looking statements if these beliefs, estimates and opinions or other circumstances should change, other than as required by
applicable laws. Investors are therefore cautioned against placing undue reliance on forward-looking statements.
The technical information in this presentation has been reviewed by Jed Diner, MSc. P.Geol., a qualified person as defined by
National Instrument 43-101.
2
4. GQ Flagship Project – Tilemsi Phosphate
• 50 million tonnes inferred resource
• High natural grade 24.3% P₂O₅
• Significant upside potential, project
covers 1,206 km² (3 licenses)
• Strategic source of reactive & soluble
phosphate for direct application
fertilizer or as a NPK component
• Experienced management team with
track record project development and
mineral discovery in West Africa
4
5. GQ Gold Concessions
GQ Gold
• GQ holds 2 gold concessions located in the
productive Birimian Gold Belt in western Mali:
• Sanoukou 24 km²
• Dabia Ouest 100 km²
Background - Birimian Belt
• A prolific gold belt with 14 deposits
• >30m Oz of gold discovered to date
• Mali – 3rd largest gold producer in Africa
Mali Operational Gold Mines
• Producing gold mines in the same area:
• Randgold Loulo + Gounkoto
• Endeavour Segala + Tabakoto
• Anglogold/Iamgold Sadiola + Yatela
5
6. Stock Information
STOCK INFORMATION
TSX-V: GQ
SHARES OUTSTANDING 44.7 m
-OPTIONS 3.8 m
-WARRANTS 0.7m
FULLY DILUTED 49.3 m
52-WEEK LOW/HIGH $0.43/$3.71
3-MONTH AVG. VOL. 29,221
52-WEEK MARKET CAP. $20.36/173.6m
As of January 18, 2013
6
7. 12-Month Stock Price / Mali and GQ Events
Significant value play, impacted by the recent Mali geopolitical crisis
7
8. Our People
Board
John A. Clarke – Chairman Management
Former CEO of Nevsun Resources and
Executive Director of Ashanti Goldfields Joel Jeangrand
President, CEO and Director
Joel Jeangrand – Director Former CEO of Pan American Hydro and
Former CEO of Pan American Hydro; VP Corporate Development VP Corporate Development of Spur Ventures
of Spur Ventures with a phosphate project in China with a phosphate project in China.
Victor Jones – Director Jayram Hosanee
30 years of experience in senior executive and board positions
in public mineral exploration and technology companies
Chief Financial Officer
Former CFO at Mineral Hill and
Ehud Levy – Director Golden Dawn Minerals. Holds a CGA.
Phosphate manufacturing industry consultant with
a 30-year career with Bateman Engineering and Rotem
Mohammed Bouhsane
Chief Operating Officer
Gordon Peeling – Director Former Project Engineer in the Moroccan
President of Mining Association of Canada (MAC) with 30 years mining and metallurgy industries working for
of mining experience in the public and private sectors the ONA Group and OCP.
Jed Richardson – Director Candice Font
Former VP Corporate Development at Verde Potash and Investor Relations Manager
Institutional Equity Research Analyst at Cormark Securities
Former Media Project Manager for Africa
Investor, a specialised publication; and IR
David Shaw – Director Consultant at Silver Bull Resources.
Worked as Senior Mining Analyst at Yorkton Securities; initiated
and developed Resource Research Group at Charlton Securities 8
9. Investment Highlights
Positive attributes
• Naturally effective fertilizer product with low OPEX and CAPEX expectations
• Strip minable – Near surface deposit (<10 meters on average)
• Simple production process as per characterization tests
Upside potential
• 3 phosphate concessions with total surface of 1,206km²
• To date only 2% of total area has been drilled (26 km²)
Market potential: West Africa
• Fast growing population (>2% pa) drive food demand in West Africa
• Large agribusiness investments in West Africa
Logistical advantage
• Proximity to key agricultural markets in West Africa (<1,000 km radius)
• Ability to offer low farm-gate price thanks to market proximity
Expertise
• Strong combined management and board expertise in mineral exploration in
Africa and the global phosphate and fertilizer industry 9
11. Unique Deposit Attributes
With a high average phosphate grade and significant
exploration upside, the Tilemsi deposit has the potential
to become a world-class phosphate resource .
TILEMSI PHOSPHATE
INITIAL INFERRED
50 million tonnes
RESOURCE
AVERAGE PHOSPHATE
24.3% P₂O₅
GRADE
CONCENTRATE GRADE 25-38% P₂O₅
Low levels of contaminants
CONCENTRATE QUALITY
(ie. cadmium)
Easy separation and
BENEFICIATION
treatment
Near surface
DEPOSIT DEPTH
Strip-minable potential
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12. Exploration Program
589 sq.km
5 km
Phases 1 and 2 of
Drilling Program
completed
417 sq.km 200 sq.km
Map of Tilemsi Phosphate Project showing our concessions
on remote sensing and drilling program (completed and planned) 12
13. Phosphate Rock Characterisation
Tilemsi natural phosphate (TNP) meets or
exceeds market specifications for
Characterization beneficiation, solubility and granulation.
tests indicate: TNP can be used as either as very low cost
phosphate component for blended NPK
fertilizer or as a direct application fertilizer.
Test Results Impact
Screening at 850 microns to
Via simple screening process, the product can
BENEFICIATION achieve P2O5 grades
easily beneficiated to up to 36.8% P₂O₅
of 36.8%
71.1% soluble P2O5
The rock solubility shows that it is able to compete with other
in citric acid
SOLUBILITY 62.5% soluble P2O5
chemical fertilizers, as fertilizers’ effectiveness is based on immediate
availability of the nutrients
in formic acid
The product can easily be granulated, allowing the product to
Successfully produced granules
GRANULATION sized 1-4mm
withstand transportation and be used as a component of NPK
blended fertilizer
13
14. GQ Unique Product Development Path
1. Raw Material Phosphate Ore
2. Beneficiation Phosphate Rock Concentrate
Phosphoric Acid/
Sulfuric Acid Plant Granulation
Nitrophosphate Plant
3. Transformation Nutrient Additives
to Final Product,
Ammonia Potash
incl. Granulation Urea
SSP TSP DAP/MAP NPK Blended NPK
4. Primary Use Direct Application Direct Application or Custom Mix Fertilizer
Legend:
GQ: 2 Possible Development Paths
Fertilizer SSP: Single Superphosphate; TSP: Triple Superphosphate; MAP:Mono-Ammonium Phosphate;
Types DAP: Di-Ammonium Phosphate; NPK: Nitrogen, Phosphate, Potassium
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16. Regional Market Penetration
Map of West Africa showing
the Tilemsi deposit and GQ market development objectives 16
17. Target Markets & Infrastructure
Figure 1:
Map of West Africa showing
the Tilemsi deposit and the main
logistical infrastructure in the
sub-region
Figure 2:
One of the 2 types of truck
considered for ore
transportation 17
19. Phosphate - a Strategic Resource
Essential to life:
• Essential nutrient for plant/animal life
Key nutrient in agriculture:
• 90% is used in fertilizers
• Stimulates root development
• No known substitute
Limited resource:
• A limited, non-renewable resource
• 67% of global production in just 3 countries
• 79% of world reserves located in 7 countries
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20. Demand Drivers
• World population projection • The amount of arable land per capita is shrinking
10 billion people by 2100
• Africa’s population is expected
to double to 2 billion by 2050.
World population growth Arable land per capita
• A more affluent world will consume more food
World population projection
Grain required to produce 1kg of meat 20
22. Available Arable Land
60% OF THE WORLD’S ARABLE LAND IS IN AFRICA
According to Zürich-based
advisory firm, EBG Capital,
sub-Saharan Africa offers
590m hectares of available
cropland, while the rest of
the world offers just 380m
hectares.
• Only 23-30% of arable
land in W. Africa is
currently cultivated
• Low fertilizer usage
(9kg/ha vs. 101kg/ha in
the rest of the world)
Source: EBG Capital 22
23. Agribusiness Opportunities
AFRICA IS ATTRACTING LARGE AGRIBUSINESS INVESTMENTS
• 62% of all large-scale land acquisitions
since 2000 have occurred in Africa.
• Agriculture in Africa will grow from its
current $280 billion a year to $500
billion in 2020, and $880 billion by
2030.
• Nigeria’s agricultural sector could grow
by a colossal 160% by 2030, rising
from $99 billion in 2010 to $256 billion
two decades later.
Agribusiness project sizes – January 2012
Source: GRAIN, AGRA Alliance, McKinsey (investment underway or completed in ‘000s USD) 23
24. West Africa Cash Crops
Source: Bureau Issala, JL Chaleard and SWAC 24
25. Growing Agricultural Sector
AFRICA THE WORLD’S NEXT
AGRICULTURAL FRONTIER
Development of
cash crops in West
Africa (1980-2006)
Source: FARM 2008
GQ target markets:
Principal production
and food crop locations
Source: Bureau Issala, JL Chaleard and SWAC
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26. Significant Growth Potential
These 2 graphs support the case
for more fertilizer use in Africa,
for higher agricultural yield.
Gap between actual and
potential maize yields
Source: Jayne et al. 2009
4000
kg/ha 50,000
45,000
000s of hectares
3500
World 40,000
3000
35,000
2500
30,000
2000 25,000
20,000
1500
West Africa 15,000
1000
10,000
Cereal yield growth 500
5,000
vs. area harvested 0 0
Source: FAO 1961 1966 1971 1976 1981 1986 1991 1996 2001 2006 26
27. Conclusion
AFRICA WELL PLACED TO BOOST ITS AGRICULTURAL YIELD
• Land is under-utilized
• Water exists in great quantity
• Significant increase in agricultural yield possible
• Competitive cost of land
• Relatively low labour cost
• Growing middle-class with improving dietary needs
Source: Deloitte Africa Agribusiness Unit 27
29. A Unique Value Proposition
To unlock West Africa’s fertilizer market
by providing cost effective and
adapted solutions to meet farmers’ needs.
Management Reputable Company successful
Track Record Board Members discovery track record
Public since 1989 Support from
In Mali since 1996
52-wk hi/lo: $0.63/$3.71 Key Stakeholders
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30. Milestones and Catalysts
2010 2011 2012 2013 2014 2015 2016
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Prospecting license of Tilemsi phosphate concession granted
Sale of Kenieba gold concession to Avion Gold (now Endeavour)
Phosphate exploration permit granted for Tilemsi & Tarkint Est
Phase I of Exploration Program completed on Tilemsi & Tin Hina
Phase II of Exploration Program completed on Tarkint Est
Tilemsi Phosphate project receives 32.6Mt initial resource estimate
Project area extended to 1,206km² with new concession of Aderfoul
Characterisation tests indicate high grade & reactivity of the rock
Increase of 17Mt of inferred mineral, totalling 50Mt
Complete PEA
Pre-Feasibility Study
Feasibility Study
Project Financing
Market Development During Construction
Launch Hyper Phosphate Production
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32. Resource Estimate
The NI 43-101 mineral resource reports provide
an inferred mineral resource estimate of 50 million tonnes
at a grade of 24.3% P2O5 (at a cut-off of 10% P2O5)
Drilling Cut-Off Tonnes Average Grade
Target Zone Strip Ratio
Campaign Grade (%) (000's) (P₂O₅ %)
Phase I Alfatchafa 10 12,538 22.16 15:01
Phase I Tin Hina 10 20,000 24.24 4.5:1
Phase II Tarkint Est 10 17,436 25.87 5.7:1
Phase I and II TOTAL 10 49,974 24.29 -
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33. Tilemsi Exploration Program
Permit Drilling # of Holes and Total Resource Average Grade
STATUS Target Name Drilled Surface
Name Program Meters Drilled Estimate (P₂O₅)
Tin Hina 6.75 km² 141 holes totalling 1,717m 1.4m @ 24.2%
Tilemsi Phase I 32.6Mt
Alfatchafa 6.7 km² 128 holes totalling 3,218m 0.9m @ 22.0%
COMPLETED
5 km² but holes were
Tin Siriden
drilled along 3.7 km of line
48 holes drilled over
11.3 holes were drilled
Tarkint Est Phase II Chemanaguel 12.17 km² these 3 targets totalling 17.4 Mt 25.87%
along 9.1 km of line
608m
Tagit Holes were drilled along
N'Ouarane
TOTAL Phases I and II 25.62 km² 317 holes, totalling 5,543m 50 Mt 24.30%
Chemanaguel n.a n.a
Tarkint Est 55 km² 198 holes totalling 2,970 m
Tin Siriden n.a n.a
Phase III Alfatchafa 13.2 km² 125 holes totalling 1,875m n.a n.a
PLANNED
Tilemsi
Historical samples*
Tin Hina 128 holes totalling 1,920 m
1- 1.15m @ 26%
23.4 km² n.a
Ader Foul Ader Foul 180 holes totalling 2,700 m n.a
Historical samples*
Chemanaguel n.a
0.60-1.25m @ 28%
Tarkint Est Phase IV 55 km² 375 holes totalling 5,625m
Tin Siriden n.a n.a
33
* Historical results have not been confirmed
34. About Mali
Despite the current political crisis in Mali, GQ maintains an office in
Bamako and plans to resume work on the ground as soon as the
situation permits. Mali has a twenty-year history of democratic rule and
expectations are that this tradition will continue.
LOCATION GEOLOGY INVESTMENT CLIMATE
• Located in the heart of • Favorable geology • September 3, 2012
West Africa dominated by the Mali Minister of Mines
• Vast landlocked Birimian gold belt invited GQ to formally
country 1.2m km² • Several operating gold reaffirms the
• 14.5 million people mines in Mali incl. government’s support
Endeavour, IAMGold… to the Tilemsi project.
• Well connected to
other West African • Third largest gold • Amongst top sub-
nations (paved roads producer in Africa Saharan Africa
and rail) and major • Large phosphate performers on the
maritime hubs of occurrences in World Bank’s ‘Doing
Abidjan and Dakar northeastern Mali Business Survey’ 2012
known since 1927-35
(IFDC) 34
35. Mali Mineral Policy
Mali mineral law is based on the French civil law.
The mining code was revised in 2012.
• Exclusive right to carry out prospecting activities
EXPLORATION LICENSE
• Valid for a period of 3 months
(Autorisation d’Exploration)
• Renewable once for 3 months
• Awarded for 3 years
PROSPECTING LICENSE
• Covers 8 km²
(Autorisation de Prospection)
• Renewable once for same period
RESEARCH PERMIT • Valid for specified commodities (called “Arrêté”)
• Granted for 3 years
(Permis de Recherche)
• Renewable twice for an additional 2 years each time
• Granted for 30 years
MINING PERMIT
• Renewable for 10 years each time, until depletion of the
(Permis d’Exploitation) ore reserves
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36. Management Bios
Joel Jeangrand Mr. Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the
natural resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and
President, CEO and
CEO of Pan American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as VP Corporate
Director Development of Spur Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in
China. He also spent 11 years in roles of increasing responsibility with the Eramet Group and worked in locations such
France, Hong Kong and Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver (2005), and
earned a Bachelor of Commerce (equivalent) from Ecole Supérieure de Commerce de Toulon, France (1989).
Jay Hosanee Mr. Hosanee is a General Certified Accountant who brings over 20 years of senior management experience in corporate
finance, auditing and internal control. Prior to joining Great Quest, he held the position of CFO at Mineral Hill and
Chief Financial Officer
Golden Dawn Minerals Inc.. His international experience include multi-currency group consolidation, overseeing
financial reporting and regulatory compliance of several public listed companies. He also held the position of CFO at
Loita Group, an investment banking firm focused on Africa. This role gave him tremendous exposure to sub-Saharan
markets. Mr. Hosanee is fluent in French and holds a CGA qualification as well as an Internal Auditor certification.
Mohammed Bouhsane Mr. Bouhsane brings 20 years of experience in project management and engineering in the Moroccan mining,
hydrometallurgical, and metallurgy industries. He spent most of his time at a mining subsidiary of the ONA Group,
Chief Operating Officer
where he served as project director and project manager of two major projects. Most recently, Mr. Bouhsane was
Project Manager at Nareva Holding, managing construction and financing of an irrigation network. Mohammed is a
member of the Quebec Order of Engineers.
Candice Font Ms. Candice Font comes to GQ with a wealth of experience working in Africa. As a regional manager for Africa Investor,
a specialized publication focused on business in Africa, Ms. Font was based in Abidjan, Cote d’Ivoire and Libreville,
Investor Relations
Gabon from 2008 to 2010. Between 2005 and 2008, she worked as a project manager producing business reports on
and Communications the growth opportunities in emerging countries such as Russia, Nigeria, and Qatar. Prior to joining Great Quest, Ms.
Font worked in Investor Relations at Silver Bull Resources, Inc. perfecting her expertise in streamlining information flow,
cultivating relationships with stakeholders and enhancing companies public profiles. She holds a Bachelor's degree in
International Business from the University of Plymouth (UK) and is fluent in English and French.
36
37. Directors Bios
John A Clarke Mr. Clarke brings considerable experience in exploration, acquisition and development in the gold mining sector in Africa. He
has held roles as Vice Chairman and CEO of Nevsun Resources and Executive Director of Ashanti Goldfields Company Ltd. He
Chairman
holds B.Sc. in metallurgy from University College Cardiff, a Ph.D. in metallurgy from Cambridge University and MBA from
Middlesex Polytechnic.
Joel Jeangrand Mr. Jeangrand has more than 20 years of global experience in marketing, business and corporate development in the natural
resource sector and renewable energy business. Prior to joining Great Quest, he held the role of President and CEO of Pan
Director
American Hydro Corporation from 2008 to 2012. Previously, Mr. Jeangrand served as VP Corporate Development of Spur
Ventures Inc., a publicly traded Vancouver-based fertilizer company with a phosphate project in China. He also spent 11 years
in roles of increasing responsibility with the Eramet Group and worked in locations such as Gabon, Paris, Hong Kong and
Taipei. He holds an Executive MBA from Simon Fraser University in Vancouver (2005), and earned a Bachelor of Commerce
(equivalent) from Ecole Superieure de Commerce de Toulon, France (1989).
Victor Jones Mr. Jones has over 30 years of experience in senior executive and board positions in public mineral exploration and technology
companies. He has been active on projects across North America and Africa on financings and JV and acquisition negotiations.
Director
Mr. Jones received both his B.Sc and MBA from McGill University.
Ehud Levy Mr. Levy is a phosphate manufacturing industry consultant, based in Israel. Ehud formed his consulting firm following a 30-
year career in Israel with Bateman Engineering and Rotem. At Bateman, he was the managing director of the chemical
Director technologies, directing project initiation and new processes for sophisticated applications of phosphates.
Gordon Peeling Mr. Peeling has been the president of Mining Association of Canada (MAC) since 1997 and has over 30 years of mining
experience in the public and private sectors. Prior to MAC, he served as Vice President at the International Council on Metals
Director
and the Environment and Director General at both the Mineral Commodities Branch and Mineral Strategy Branch at Natural
Resources Canada.
Jed Richardson Mr. Richardson graduated from University of Toronto with B.A.Sc. in mineral and geological engineering. He worked for Alcan
as an engineer, and RBC and Cormark as research analyst. He is currently a director and the VP Corporate Development of
Director
Verde Potash (formerly Amazon Mining). Jed is the founding principal of Javelin Partners, consulting firm for junior resource
companies.
David Shaw Mr. Shaw has worked both in the technical and financial communities in the resource industry. He initiated and developed
Resource Research Group at Charlton Securities, worked as Senior Mining Analyst at Yorkton Securities and as a technical
Director
expert at Chevron Resources. He is well connected within European financial institutions and the mining sector.
37
38. Great Quest Comparables
52-week Ore Resources
Stock Share 3m Avg Market
Currency Project Stage Project Location M&I
Company Ticker Price High Low Vol Cap (m) Total Grade P₂O₅
(Mt)
Aguia Resources Ltd AGR:ASX AUD 0.16 0.58 0.12 43,333 $20.15 Drilling Brazil – 21.3 4.6%
Arianne Resources Inc DAN:TSXV CAD 1.05 1.44 0.80 82,220 $71.23 Pre-Feas Completed Canada 347.7 462.0 5.5%-6.5%
Celamin Holdings CNL:ASX AUS 0.15 0.20 0.09 60,825 $22.85 Drilling Tunisia Algeria 37 – 21%
Eagle Star Minerals Corp EGE:TSXV CAD 0.10 0.18 0.07 110,711 $6.07 Drilling Brazil – – –
Great Quest Metals Ltd GQ:TSXV CAD 0.53 3.71 0.43 17,755 $22.96 PEA Completed Mali – 50.0 24.3%
Legend International Holding LGDI:OTC USD 0.07 0.20 0.06 52,924 $17.18 Feasibility Completed Australia 202.8 516.1 14%-15%
MBAC Fertilizer Corp MBC:TSX CAD 3.62 3.75 2.50 72,252 $428.61 Production Target 2012 Brazil 58.8 119.0 5.01%-5.27%
Minbos Resources Ltd MNB:ASX AUD 0.12 0.29 0.12 55,007 $15.06 Scoping Study Underway Angola, DRC 340 370.0 12.20%
Minemarkers Ltd MAK:ASX AUD 0.18 0.37 0.13 270,899 $42.03 Pre-Feas Completed Australia 1552 1552 11.6%
Montero MON:TSXV CAD 0.13 0.12 0.23 65,000 $6.84 PEA Completed South Africa 32.8 7.2%
Plains Creek Phosphate PCP: TSXV CAD 0.01 0.03 0.02 493,406 $3.88 Pre-Feas Completed Guinea Bissau 83.8 128.0 29.9-30.1%
Rio Verde Minerals RVD:TSX CAD 0.39 0.55 0.18 116,758 $47.42 Scoping Study Underway Brazil 1.9 1.9 11.7%-20.3%
Rum Jungle Resources Ltd RUM:ASX AUD 0.24 0.41 0.19 314,464 $49.88 Drilling Australia 13 13.0 15.0%
Stonegate Agricom Ltd ST:OTC CAD 0.53 0.90 0.32 25,666 $76.95 Pre-Feas Completed Peru, US 74 376.3 9%-30.6%
Strata Minerals SMP:TSXV CAD 0.08 0.13 0.05 23,972 $5.12 Drilling Australia – – –
Sunkar Resources Plc SKR:LSE GBP 0.03 0.12 0.03 295,140 £5.29 Feas. Study Underway Kazakhstan 293 475.3 10.5%
UCL Resources - Minemaker JV UCL:ASX AUD 0.16 0.37 0.12 23,533 $16.29 DFS nearing completion Australia, Namibia 1828 1,832.0 18.9%
Sources: Yahoo Finance, Capital IQ and Company Reports As of December 5, 2012
DFS: Definitive Feasibility Study; PEA: Preliminary Economic Assessment 38