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Tuesday, 19 February 2013
Calling All Dragons - See Curis Resources and Canamex Resources in Vancouver
Private investors are being handed the opportunity to become the next Kevin O'Leary, or Arlene Dickinson thanks to innovative Dragon’s Den-style events.
The Proactive Investors One2One forum promises to provide them direct access to the bosses of some of the nation’s most dynamic growth companies.
Indeed, the next One2One Investor Forum will be held at Metropolitan Hotel Vancouver - 645 Howe Street - Vancouver Room, on February 21. It promises to be an interesting affair, with two compelling investment opportunities on hand for attendees.
The two firms, Curis Resources (TSE:CUV) and Canamex Resources (CVE:CSQ), will make a 20 minute pitch followed by a 10 minute inquisition by a roomful of potential Dragons.
“Our inquisitors are every bit as tough as their television counterparts, but perhaps a little fairer,” says Proactive Investors managing director Craig Ribton.
The brainchild of Ribton and co-founder Ian McLelland, the One2One Forums offer just that chance.
Although the format is similar to the reality TV series (Proactive says it came up with the idea first), the aim is slightly different.
“We are about empowering investors, rather than demeaning the people in charge. I don’t think that approach works or has ever worked,” said Ribton.
“Our plan since our inception has been to introduce investors to some of the most exciting and dynamic growth investments out there.
“We also want to level the playing field for those investors by offering them the kind of access that only fund managers receive.”
In six years, Proactive has organized more than 300 events and introduced investors to some of the stock market’s best-performing stock market listed companies.
Once all the companies have presented, complimentary canapés and beverages are available for 90 minutes during a break-out session, where attendees can mingle with other guests, or ask more questions to the presenters.
Appearing at the Metropolitan Hotel in Vancouver from 1:30pm onwards will be Curis Resources and Canamex Resources (see mini-biogs below).
Shares of Curis Resources (TSE:CUV) recently reached new highs after the company reported its highly anticipated prefeasibility study for its Florence copper project in Arizona, showing strong economics and lower initial capital costs than a previous preliminary report.
Investors have been eagerly awaiting the results of the study, with the company's stock almost tripling in the past six months.
The report, authored by M3 Engineering & Technology, shows that using a long-term copper price of US$2.75 a pound, the project has a pre-tax net present value of US$748 million at a 7.5% discount rate, with a 38% internal rate of return (IRR) and a pre-tax payback period of just under two and a half years.
After tax, the net present value is $505 million using the $2.75 per pound copper price, with a 31% IRR and a payback period of just under three years.
The direct operating cost for the life of the project is estimated at US$0.79 per pound of copper recovered, with initial capital costs pegged at US$196 million - an 18% decrease from the initial estimate in the 2010 preliminary study.
The property, which is located in central Arizona and owned outright by Curis, hosts a shallowly buried porphyry copper deposit with a significant oxide mineral resource that is amenable to in-situ copper recovery. According to the latest timeline, the company is slated to begin full commercial production by 2016, with the mine life of the project extended to 25 years.
Canamex Resources (CVE:CSQ) (OTCQX:CNMXF), meanwhile, is one of those few juniors that has enough funds to execute on its plans amid a challenging market environment, with the company recently receiving strong backing from silver mining giant Hecla (NYSE:HL) as it advances its flagship Bruner project in Nevada.
The junior mineral explorer recently raised $2.5 million from Hecla, which bought 14 million shares of Canamex at 18 cents apiece through a straight stock purchase. Hecla now has a near 15% interest in the company, and has a right to maintain its interest in future financings.
But Canamex doesn’t plan to go to the markets anytime soon. With $4.1 million in the bank at the start of the year, the company says it has enough to take it into the first quarter of 2014.
The company’s Bruner gold project, in Nye County, Nevada is where Canamex will devote most of its attention this year. The project has three areas of focus according to CEO Robert Kramer, two of which will be addressed in the first half of 2013.
Investors therefore have much to look forward to, with presentations at the One2One forum in Vancouver to start at 1:30pm and finish at 3:00pm. If there are any problems registering or queries please email firstname.lastname@example.org