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On the Path to Production
April 2012
Entrée Gold at
Oyu Tolgoi Headframe
Rio Tinto
Bingham Canyon
Entrée JV Discovery Hole
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Cautionary Statement
This corporate update contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning
of applicable Canadian securities laws.
Forward-looking statements include, but are not limited to, statements with respect to the future prices of copper, gold and molybdenum, the estimation of mineral reserves and resources, the
realization of mineral reserve and resource estimates, the timing and amount of estimated future production, costs of production and capital expenditures, the costs and timing of the development of
new deposits, the potential for the discovery of additional mineralized zones on properties in which Entrée has an interest, the potential for the expansion of existing deposits in which Entrée has an
interest, plans to prepare and the timing for release of a Preliminary Economic Assessment on the Ann Mason Project, the timing of and potential for future resource estimates on properties in which
Entrée has an interest, plans for future exploration and/or development programs and budgets, permitting time lines, anticipated business activities, corporate strategies, proposed acquisitions and
dispositions of assets and future financial performance. While Entrée Gold Inc. (“Entrée” or the “Company”) has based these forward-looking statements on its expectations about future events as at
the date that such statements were prepared, the statements are not a guarantee of the Company’s future performance and are subject to risks, uncertainties, assumptions and other factors which
could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors and assumptions include, amongst others, that the size, grade
and continuity of deposits and resource and reserve estimates have been interpreted correctly from exploration results, that the prices of copper, gold and molybdenum will remain relatively stable,
the effects of general economic conditions, changing foreign exchange rates and actions by joint venture partners and by government authorities including the Government of Mongolia, uncertainties
associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking statements. In addition, there are also known and unknown risk factors which may
cause the actual results, performances or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking
statements. Known risk factors are described in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 29, 2012 filed with the Canadian Securities Administrators
and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Except as required under applicable securities legislation,
the Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. Accordingly, readers should not
place undue reliance on forward-looking statements.
The Company's exploration activities are under the supervision of Robert Cann, P.Geo., Vice President, Exploration of Entrée. Mr. Cann is a “qualified person” as defined in National Instrument 43-
101- Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Cann has approved the technical information contained in this corporate update.
All minerals reserves and mineral resources have been calculated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101. Cautionary Note to
United States Investors: United States investors are advised that while the terms “measured mineral resources”, “indicated mineral resources” “inferred mineral resources” and “probable mineral
reserves” are recognized and required by Canadian regulations, the United States Securities and Exchange Commission (SEC) does not recognize them. United States investors are cautioned not to
assume that any part or all of the mineral deposits in these categories will ever be upgraded to a higher category, or converted into mineral reserves. Inferred mineral resources have a great amount
of uncertainty as to their existence, and as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other
economic studies. United States investors are cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally minable. Disclosure of “contained
ounces” is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute reserves as in place tonnage and grade
without reference to unit measures. Accordingly, information contained in this corporate update containing descriptions of the Company’s mineral properties may not be comparable to similar
information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.The
information in this corporate update is for informational purposes only. Readers should not rely on the information for any purpose other than to gain general knowledge of Entrée. This information is
not intended to be, and should not be construed as, part of an offering or solicitation of securities.
Note 1: See the technical report titled "Technical Report 2012 on the Lookout Hill Property" dated March 29, 2012 ("LHTR12") prepared by AMC Consultants Pty Ltd, a copy of which is available on SEDAR atwww.sedar.com.Note 2: See the technical report titled "Technical Report and Updated Mineral Resource Estimate on the Ann Mason Project Nevada, USA" dated March 26, 2012, prepared by Robert Cinits, P. Geo., the Company’sDirector, Technical Services, Scott Jackson, F.AusIMM, a principal of Quantitative Group Pty Ltd and Lyn Jones, P. Eng., a senior associate metallurgist for AGP Mining Consultants Inc., a copy of which is available onSEDAR at www.sedar.com.
3TSX:ETG | NYSE AMEX:EGI | FRANKFURT:EKA
Oyu Tolgoi Development
Phase I Construction 75% Complete
HNE Development Production in 2015
On the Path to Production
Hugo North Extension and Heruga, Mongolia
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On the Path to Production
Ann Mason, Nevada
8.0 Billion lbs Copper Indicated*
7.3 Billion lbs Copper Inferred*
*0.2% Cu cut-off
5TSX:ETG | NYSE AMEX:EGI | FRANKFURT:EKA
Mongolia
Entrée-OTLLC JV
Hugo North Extension
Heruga
100% Entrée
Shivee West
Cu-Au-Mo
Grass Roots Exploration
United States ● Australia ● Peru
United States
100% Entrée
(Owned or Controlled)
Ann Mason Deposit
Blue Hill
Cu-Mo
Corporate Strategy
Striking the balance between opportunity and risk
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Resources
*CuEq estimated using US$1.35/lb Cu, US$650/oz Au, US$10/lb Mo. Figures are NI 43-101 compliant.
Mongolia
Nevada
Inferred Resource7.3 B Cu lbs0.2% Cut-off
or
3.5 B Cu lbs
0.3% Cut-off
Indicated Resource1.1B CuEq* lbs(with 0.5M oz Au)
0.6% Cut-off
Hugo North Extension
Inferred Resource4.1B CuEq* lbs(with 3M oz Au)
0.6% Cut-off
HNE and Heruga
Ann Mason
Hugo North Ext'n
Heruga
Indicated Resource8.0 B Cu lbs0.2% Cut-off
or
5.4 B Cu lbs
0.3% Cut-off
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Strategic Partners
Entrée-OT LLC JV
US$35,000,000 JV earn-in
>US$54 million to date
Entrée 20% - Ivanhoe 80% (deep)
Entrée 30% - Ivanhoe 70% (shallow)
Carried to production
Rio Tinto (13%)*
51% of Ivanhoe
Standstill expired January 2012
Commitment >US$3.7 billion
Ivanhoe Mines (11%)*
66% of Oyu Tolgoi
*Issued & Outstanding
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Shareholder Base Fully Diluted
59%
Held by top 15
Shareholders
11.9%
9.9%
8.8%
8.1%
4.4% 4.4%
3.5%
2.0% 2.0%
1.2% 1.1%0.6% 0.6% 0.4% 0.4%
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Board of Directors
President & CEO, Director
Chairman, Director
Deputy Chairman, Director
VP Business Development, Director
Director
Director
Director
Greg Crowe
James Harris
Michael Howard
Lindsay Bottomer
Peter Meredith
Mark Bailey
Alan Edwards
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Financial Information
Treasury (As of Dec. 31, 2012)
Issued and OutstandingOptions - 10,800,000 (Average price ~Cdn$1.98)
Fully Diluted
52 week High / Low
Analyst Coverage
~Cdn$19 million
128,400,000
139,200,000
Cdn$2.88 / $0.93
TD Newcrest
Hallgarten & Co. LLC
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Growth Through Exploration
• Mongolia New gold zone discovered at Shivee West in 2011
Drilling on JV property
• USA Drilling at Ann Mason, NV
Drill permits pending at Oak Grove and Lordsburg, NM
& Acquisitions
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Entree Gold - USA
USA
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Properties
Minnesota
Shamrock
• Rated No. 1 mining jurisdiction in USA
• Underdeveloped camp with significant Cu
• Positioned for major company investment
• Yerington Mine
Produced 1.9 billion lbs Cu (1918-1982)
• Pumpkin Hollow - Nevada Copper
5.9 billion lbs Cu @ 0.55% (M&I)
(0.2% Cu cut-off)
• Entrée Targets
Blue Hill
Blackjack
Roulette
Yerington,
Nevada
USA
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Ann Mason Project, Nevada
* Copper equivalent estimated using US$2.50/lb Cu, US$15/lb Mo, Au US$1000/oz and Ag US$ 15/oz. *See news releases dated Sept 6, 2011, Feb 7, 2011 and Mar. 1, 2012.
8.0 billion lbs Cu Indicated
1,115 Mt @ 0.33% Cu
0.2% Cu cut-off
(5.4 billion lbs Cu Indicated
640 Mt @ 0.38% Cu
0.3% Cu cut-off)
7.3 billion lbs Cu Inferred
1,131 Mt @ 0.29% Cu
0.2% Cu cut-off
(3.5 billion lbs Cu Inferred
444 Mt @ 0.36% Cu
0.3% Cu cut-off)
Drill Highlights
• 650 m of 0.39% CuEq (AM-11-010)
• 988 m of 0.38% CuEq (AM-10-001)
• 759 m of 0.49% CuEq (AM-10-020)
• 783 m of 0.41% CuEq (AM-10-024)
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100% Entrée
No Royalties
Major Deposit
2.3 X 1.3 km
>1000 m depth
Premier Location
PEA Planned
H2 - 2012
Ann Mason Deposit
Yerington, Nevada
1.3
k
m
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Ann Mason
On the Path to Production
8.0 Million lbs Cu
Indicated
7.3 Million lbs Cu
Inferred
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Porphyry Copper Deposits
Western North America
Morenci
3200 Mt
Ann Mason* 0.2%
1115 Mt
Ann Mason* 0.3%
640 Mt
Mt Milligan*
707 Mt
Red Chris
619 Mt
Rosemont
543 Mt
Gibraltar
460 Mt
Highland Valley
440 Mt
Safford
243 Mt
Copper Mtn
233 Mt
Tyrone
180 Mt
Carlota
64 Mt
Chart based on indicated resources.
Ann Mason inferred resources: 0.3% Cu cut-off – 444 million tonnes averaging 0.38% CuEq (0.36% Cu, 0.004% Mo)
0.2% Cu cut-off – 1,131 million tonnes averaging 0.31% Cu Eq. (0.29% Cu, 0.004% Mo)
*Copper equivalent indicated resource
0.5
0.4
0.3
0.2
0.1
% C
op
per
0.6
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Partners: Empirical Discovery
Explore for buried porphyry Cu-Mo targets
• Proprietary geophysical techniques
• Four properties drilled
Entrée discovery at Lordsburg
• Intercepts to 0.44% CuEq* over 60 m
• Further exploration planned
Other targets
• Oak Grove
USA
Properties
* Copper equivalent estimated using US$1.35/lb Cu and US$650/oz Au. Intercept contains 0.31% Cu and 0.21 g/t Au. See news release dated Oct. 8, 2009.
Arizona
New Mexico
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Mongolia
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Shivee Tolgoi - Oyu Tolgoi Trends
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Oyu Tolgoi Trend
0.9% CuEq
2.2%
CuEq
See Note 1 of Cautionary Statement. Modified from LHTR12.
The mineral reserves are not additive to the mineral resources.
Copper equivalent estimated using US$1.35/lb Cu, US$650/oz Au, US$10/lb Mo. A 0.6% CuEq cutoff was used.
22TSX:ETG | NYSE AMEX:EGI | FRANKFURT:EKA
Entrée-OTLLC JV Deposit Resources
Entrée ownership - 20% Carried Interest
See Note 1 of Cautionary Statement and LHTR12.
* The mineral reserves are not additive to the mineral resources.
** Copper equivalent estimated using US$1.35/lb Cu, US$650/oz Au, US$10/lb Mo.
*** 0.6% CuEq cutoff.
Hugo North Extension
Cu-Au
Probable
Mineral
Reserves*
27Mt ore1.85% Cu and 0.72 g/t Au1B lbs Cu / 0.53M oz Au
Indicated
Resources**
5.6B lbs CuEq
117 million tonnes*** - 1.8% Cu, 0.61 g/t Au
4.6B lbs Cu / 2.3M oz Au
Inferred
Resources**
2.8B lbs CuEq
95.5 million tonnes***- 1.15% Cu, 0.31 g/t Au2.4B lbs Cu / 0.95M oz Au
Hugo North Extension
Cu-Au
Heruga
Cu-Au-Mo
Probable
Mineral
Reserves*
27Mt ore1.85% Cu and 0.72 g/t Au1B lbs Cu / 0.53M oz Au
Indicated
Resources**
5.6B lbs CuEq
117 million tonnes*** - 1.8% Cu, 0.61 g/t Au
4.6B lbs Cu / 2.3M oz Au
Inferred
Resources**
2.8B lbs CuEq
95.5 million tonnes***- 1.15% Cu, 0.31 g/t Au2.4B lbs Cu / 0.95M oz Au
17.4B lbs CuEq
910 million tonnes***
0.48% Cu, 0.49 g/t Au, 0.014 % Mo9.6B lbs Cu / 14M oz Au
HUGO
NORTH
EXTENSION
HERUGA
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Hugo North Extension Cu-Au Deposit &
Heruga - Moving Forward
Current
• Premier Asset
• High Grade – Long life
• OT Phase I Construction 75% Complete
• Entrée Carried to Production
Timeline for Entrée’s Assets
• First Ore from HNE 2015
• 50+ Year Mine Life
• HNE & Heruga Deposits Remain Open
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Exploration Potential
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Argo and Zone III Gold Targets
Shivee West (100% Entrée)
• 2.5 km Magnetic Low Parallel to
OT Trend
• Low Sulphidation Epithermal
Signature
• Limited Drilling
• High Grade Surface Samples
• 42.4 g/t Au over 4 m
• 19.3 g/t Au over 3 m
• 2011 Drill Results
• 1.82 g/t Au over 14 m (hole 112)
including 9.32 g/t Au over 2 m
• 2.21 g/t over 3 m (hole 111)
• 2.08 g/t Au over 8 m (hole 123)
including 5.60 g/t over 2 m
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Current Copper Assets
0
2
4
6
8
10
12
Indicated Inferred
Nevada_0.2% Cut-off
Mongolia
Billio
ns (lb
s)
*CuEq estimated using US$1.35/lb Cu,
US$650/oz Au, US$10/lb Mo.
Figures are NI 43-101 Compliant.
Nevada
Ann Mason
4.1 B lbs CuEq*
(with 3M oz Au)1.1 B lbs CuEq*
(with 0.5M oz Au)
Includes HNE
Mineral Reserves
Mongolia
8.0 B lbs Cu
0.2% Cu cut-off
7.3 B lbs Cu
0.2% Cu cut-off
Indicated Inferred
5.4 B lbs Cu
0.3% Cu cut-off
3.5 B lbs Cu
0.3% Cu cut-off
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100% Entrée
(Owned or Controlled)
Ann Mason, Nevada
Drilling 2012
PEA in late 2012
Shivee West, Mongolia
Exploration Argo Zone 2012
Joint Venture
Hugo North Extension &
Heruga, Mongolia
On-going Development to 2015
First Dev. Production in 2015
Production to post 2070
Exploration Drilling in 2012
Advancing our Assets
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0
500
1,000
1,500
2,000
2,500
Copper Resources vs. Share Price
Sh
are
Pri
ce
Share price
*0.2% Cu Cut-off
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
0
4
8
12
16
20
2004 2005 2006 2007 2008 2009 2010 2011 2012Indicated (Billion lbs) Inferred (Billion lbs)
Billio
n P
ou
nd
s C
op
pe
r
IVN Deal
Rio
Investment
HNE
Discovery
Mongolian
Windfall
Tax
IVN-Rio
Deal
Rio-IVN
Exercise
2005
Warrants
Heruga
Discovery
BMO
Financing
IA &
Withdrawal of
Windfall Tax
PacMag
Acquisition
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Monica Hamm – Manager Investor Relations
mhamm@entreegold.com
604-687-4777
www.entreegold.com
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