Exploration, Partnership, Growth
Traditional Model vs. Project Generator
Joint Venture Partners
Progress Minerals Inc. engages in the identification, acquisition, exploration, and development of mineral resource projects focused on the West African Birimian Greenstone Belts. The company was incorporated in 2016 and is based in Vancouver, Canada.
Burkina Faso Permits:
Kalinga, Tantiabongou, Tambifwanou, Bongou, Tamfoagou, Tangagari, Tambiri, Bira and Basieri.
Progress Minerals Inc has earned 51% by spending US$1 million. They can increase their equity to 70% by expenditure of an aggregate US$5 million spend including funds spent so far. Predictive current equity 49%.
Key Contact: Adam Spencer (Chief Executive Officer)
Mr. Spencer brings extensive capital markets experience in the mining industry having been involved in a wide range of financing and advisory mandates covering mining projects globally. He is currently the Senior Vice President, Corporate Development of Sandstorm Gold Ltd., a leading precious metal streaming and royalty company, a position he has held since 2013. In his time at Sandstorm, Adam has been involved in over $500 million of investments and acquisitions, taking a key role in origination, structuring and negotiation. Prior to his role at Sandstorm, Mr. Spencer was a Director in the Mining Investment Banking group at Cormark Securities Inc., where he executed numerous financing and advisory mandates focused on the junior and mid-tier sectors of the mining market.
Toro Gold Ltd (Toro) is a private gold exploration, development and production company focused in West Africa. Their flagship asset is the Mako Gold Mine which is locate in eastern Senegal and commence production in early 2018. Toro’s principal exploration focus outside of the immediate environs of the Mako Mine is its joint venture with Predictive in Cote d’Ivoire. Predictive is in joint venture with Toro on seven granted permits and two permit applications in Cote D’Ivoire. The Toro Joint Venture operates through Predictive’s former subsidiary, Predictive Cote D’Ivoire SARL (Predictive CI) of which Predictive now holds 35%.
Cote D’Ivoire Projects:
Kokoumbo, Boundiali, Kounahiri, Ferkessedougou, Ferkessedougou North, Beriaboukro, Boundiali North.
Toro Gold has earned 65% in the holding company, Predictive Discovery Cote D’Ivoire SARL, by spending $US3.5 million on exploration work.
Key Contact: Howard Bills (Chief Exploration Officer)
Prior to co-founding Toro Gold with Martin Horgan in 2009 Howard was Exploration Manager for AXMIN and managed the discovery and development of the 3Moz Passendro gold project (in the CAR) from grassroots in 1999 to completion of the feasibility study in 2008. At Toro, Howard has managed geology and exploration at the Mako project through the exploration and development process as well as managing exploration on Toro’s portfolio of exploration permits across sub-Saharan Africa.