Investor Presentaiton
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Why Eritrea?
Highly prospective geology (Arabian-Nubian shield) with proven economic mining deposits
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Significant operating mines in Eritrea include:
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Bisha: VMS gold, copper and zinc mine, 55% owned by Zijin Mining, following US$1.4 billion acquisition of
Nevsun Resources in 2019; (2016 Measured & Indicated Resources of 20.6 Mt @ 0.98% Cu, 5.74% Zn, 0.7 g/t Au,
45 g/t Ag)
Koka/Zara: orogenic gold mine, 60% owned by China SFECO Group; (Probable Reserve 4.6 Mt @ 5.1 g/t Au)
Supportive Government participation, with Eritrean law providing that:
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Government may acquire (without cost to itself), a participation interest of up to 10% percent of any mining
investment; and
The Government may also purchase an additional 30% equity participation (total of 40%, including the 10%
free-carried) via ENAMCO (the State mining company)
The price paid for the additional 30% portion is settled by negotiation, based on valuations by independent
experts, with ENAMCO fully contributing for its share of capital costs.
Stable taxation and mining regulation which allows for expatriation of funds
Ideal location for concentrate exports to international markets
Mining sector accounts for approximately 20% of the economy
One of the world's largest solid salt, near surface high grade Sulphate of Potash reserves (Colluli), in an emerging
potash province, is on track for production in 2022.
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Andiamo!
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