Regulus Resources Inc.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
Suite 1570 – 200 Burrard Street Vancouver, BC Canada, V6C 3L6 |
| Tel No.： | +1-604-685-6800 |
| Web Site： | https://regulusresources.com |
| E-mail： | info@regulusresources.com |
| Contact Person： | Ben Cherrington |
| Position： | Manager of Investor Relations |
| Traded Market： | TSX.V | OTCQX |
| Traded Symbol： | REG | RGLSF |
| Outstanding Shares： | 124,658,818 |
| 52 Week High： | $ 2.45 |
| 52 Week Low： | $ 0.60 |
| Present Price： | Click Here |
Regulus Resources is focused on its AntaKori project in Northern Peru. AntaKori is a large, high-grade, low-strip ratio, sulphide copper-gold deposit located in a well-established mining district with excellent infrastructure. A 2019 resource estimate outlined an M&I Resource of 2.6 Blbs copper (Cu) and 2.3 Moz gold (Au) and an Inferred Resource of 2.4 Blbs copper and 2.2 Moz gold. The Company has completed 31,667 m of drilling since completion of the resource estimate in 2019, which will be incorporated in a future resource update.
In January 2023, Rio Tinto acquired a 16.1% stake in Regulus for C$20.5 million, and its Nuton group is currently performing a metallurgical testing program utilizing Nuton’s primary sulphide leaching technologies. In July 2024, Regulus entered into a collaboration agreement with Compañía Minera Coimolache S.A., the operators of the mine immediately adjacent to AntaKori, to evaluate the viability of an integrated Coimolache Sulphides/AntaKori copper-gold project. The evaluation will consist of a mineral resource estimate (“MRE”) with the option, following the completion of a MRE and agreement of the parties, to complete a preliminary economic assessment (“PEA”). Results of these studies can only be released upon mutual agreement of both parties.
Regulus’ strategy is to acquire projects that have the potential to be large enough to draw the attention of major mining companies. The management team has a proven track record, having established Antares Minerals which was sold for ~CAD$650 million to First Quantum.
Investment Highlights
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Management & Strategic Backing
Top-tier team with successful track record and strong partners: Route One Investment Company, Rio Tinto, and Osisko Gold Royalties. -
Located in a Mature Mining District
Within 35 km of three active mines – Newmont’s Yanacocha (35 km), Golf Fields’ Cerro Corona (6 km), and CMC’s Tantahuatay (immediately adjacent) with significant infrastructure. -
World-Class Asset
Over 5 Blbs copper and 4.5 Moz gold; high-grade, very low strip ratio, as per the 2019 43-101 MRE. 31,667 m of drilling completed since the MRE, which will be incorporated in a future resource update. -
Part of a Larger District-Scale Opportunity
AntaKori located next to mines with synergies for combined development. In July 2024, Regulus entered into a collaboration agreement with Compañía Minera Coimolache S.A., the operators of the mine immediately adjacent to AntaKori. -
Agreement with Rio Tinto’s Nuton Group
Exploring sulphide leaching with exciting economic and ESG benefits, with Phase 1 testing providing successful recoveries, and Phase 2 metallurgical testing well underway. Investment by Rio Tinto in January 2023 a significant endorsement.
Major Shareholders:
| Route One Investment Co. | 21.8% |
| Rio Tinto | 16.1% |
AntaKori Copper-Gold Project
Indicted Resource of 250 million tonnes containing 2.6 Blbs copper and 2.3 million ounces gold at 0.74% CuEq grade; Inferred Resources of 267 million tonnes containing 2.4 Blbs copper (Cu) and 2.2 million ounces gold at 0.66% CuEq grade. See Regulus website for full details for 2019 resource.
Significant high-grade mineralization right at surface with minimal strip ratio (0.85/1); surrounded by mining infrastructure.
John E. Black, Chief Executive Officer & Director
John Black is an economic geologist with more than 40 years of exploration experience in the Americas, Central Asia, the SW Pacific, and Eastern Europe/Western Asia. He first worked in South America in 1993 and has been actively involved in mineral exploration throughout the continent for several companies since that time. His professional credentials include a B.Sc. degree in Geology from Stanford University in 1983 and an M.S. degree in Geology – Ore Deposits Exploration from the same University in 1988. John was the founding President of Antares Minerals Inc. and was instrumental in acquiring the Haquira project in Peru for Antares. He was the key driver in negotiating the sale of Antares to First Quantum Minerals for C$650 million. John’s early career included work with Bear Creek Mining Company, Kennecott Minerals Corporation, Rio Tinto and Western Mining Corporation and he currently serves as the CEO and director of Regulus Resources Inc. and Aldebaran Resources.
Dr. Kevin B. Heather, Chief Geological Officer
Dr. Kevin B. Heather is an economic geologist with 40 years of field experience in North and South America. Dr. Heather was a founding member of both Antares and Regulus and directed the exploration that led to the discovery of the high-grade Haquira East deposit in Southern Peru, which sold to First Quantum Minerals in December 2010 for C$650 million. His professional credentials include a BSc. (honours) degree in Geology from UBC in 1982, a MSc. degree in Geology from Queen’s University in 1985, and a PhD. degree from the University of Keele in 2001. Dr. Heather is currently the Chief Geological Officer (CGO) for Regulus and Aldebaran and is the QP (FAUSIMM) responsible at a corporate level for overseeing the technical aspects of both company’s exploration activities. During his career Dr. Heather has been involved with several discoveries and has worked on various world-class ore deposits including the El Indio Au-Ag-Cu Mine (Chile), the Pascua-Lama Au-Ag deposit (Chile-Argentina), and the Cerro Vanguardia Au-Ag deposit (Patagonia, Argentina).
Mark Wayne, Chief Financial Officer & Director
Mark Wayne is a co-founder, director and the Chief Financial Officer of Regulus and, prior to that, Antares Minerals Inc. Mr. Wayne has a law degree and is a Chartered Financial Analyst. He practiced law from 1980 – 1987, specializing in the fields of corporate and securities law. In 1987 he founded and became President of AltaFund Investment Corp., a public investment company that raised $110 million. In 1991, AltaFund joined the Altamira group of mutual funds and Mr. Wayne subsequently served as Vice-President, Western Canada for Altamira until November 1998. Mr. Wayne has raised money for, and served as a director or officer of, a number of public and private companies over the years in the mining, oil and gas and technology sectors. Mr. Wayne is based in Calgary, Alberta and is also an investment advisor with IA Securities Inc., a full service investment dealer.
Fernando Pickmann, President, COO & Director
Mr. Pickmann has a law degree and an LLM in corporate Law and over 20 years of corporate, securities and mining law experience. His legal practice has been focused on advising significant mining companies in Peru. He has acted as internal legal advisor of Peruvian Government on the Mining Privatization Committee of Centromin Peru; he has been board member of several public and private junior mining companies and board member of Petroperu (Peruvian Agency for oil and gas) and is currently partner of Dentons law firm in the Lima office, negotiating multiple transfer, assignment and mining option contracts. Mr. Pickmann has also been a Professor of Mining Law and Strategic Alliances at Lima University. Mr. Pickmann was CEO of Southern Legacy Minerals prior to its amalgamation with Regulus.
Adam Greening, Senior Vice President, Corporate Development
Adam Greening is a professional geologist with over 15 years of experience in corporate development, exploration and strategy. Prior to joining Regulus, Adam worked at Yamana Gold where he helped evaluate and execute successful acquisitions and divestitures valued at approximately C$4.5 billion. Prior to Yamana Gold, Adam worked at Goldcorp and MPH Consulting as a geologist. Adam has a MBA from the Rotman School of Management -University of Toronto and a B.Sc (honours) from Memorial University of Newfoundland. Adam is also Senior Vice President of Corporate Development for Aldebaran Resources.
On October 10, 2024, Regulus Resources Inc. has executed an agreement with Compania de Minas Buenaventura SAA dated effective Aug. 26, 2024, to acquire the remaining 30-per-cent interest in the Colquirrumi claims that the company did not already own (see company press release dated Feb. 15, 2023).
In exchange for the remaining 30-per-cent interest, Regulus has granted Buenaventura a 2-per-cent NSR (net smelter return) over the Colquirrumi claims, of which 0.5 per cent can be repurchased within 10 years in exchange for $1-million (U.S.).
The Colquirrumi claims represent approximately 2,571 hectares of mineral rights in a prolific mining district, adjacent to and interfingered with Regulus's AntaKori property. Less than 5 per cent of the Colquirrumi claims have been properly explored, however, several encouraging mineralized areas were discovered in Regulus's previous drill programs.
John Black, chief executive officer of Regulus, commented: "This agreement consolidates a large portion of land that we know to be mineralized. There is also significant strategic value given that any large mining operation in the district would need to incorporate the Colquirrumi claims to expand resources and layback an open pit. By acquiring the remaining 30 per cent of this claims package, we have grown our 100-per-cent-owned claims package substantially."
July 29, 2024, Regulus Signs Collaboration Agreement with Compania Minera Coimolache S.A. to Evaluate the Integrated Coimolache Sulphides/Antakori Copper-Gold Project
https://regulusresources.com/site/assets/files/4311/2024-jul-29_press-collaboration-agreement.pdf