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Belo Sun Mining Corp.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 800 – 65 Queen Street West
Toronto, Ontario
Canada M5H 2M5
Tel No.: 416-861-2267
Web Site: www.belosun.com
E-mail: info@belosun.com
Contact Person: Peter Tagliamonte
Position: President & CEO


Company Data

Traded Market: TSX | OTCQB
Traded Symbol: BSX | BSGDF
Outstanding Shares: approx. 442.6 million
52 Week High: $ 1.37
52 Week Low: $ 0.39
Present Price: Click Here


Introduction

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Belo Sun is a Canadian-based mining company focused on generating long-term sustainable value for its shareholders by developing the Volta Grande Gold Project. A feasibility study of the Project completed in March 2015 forecasts an open-pit mine with a long life, strong production profile, bottom quartile operating costs and robust economics. The Construction Licence was received in February 2017.

Belo Sun is led by a strong management and board with depth across all disciplines. The core members of the team have a long working history together, and have earned a track record of successfully developing and operating mines in Latin America, particularly in Brazil.


FLAGSHIP PROJECT

Volta Grande Gold Project, Brazil

Project Highlights

  • The Volta Grande Gold Project is located in Para State, the 2nd most active mining state in Brazil, within the "Tres Palmeiras" greenstone belt (+120km strike)
  • Volta Grande is the largest undeveloped Gold deposit in Brazil
  • The Project is located in an area with excellent, well developed infrastructure
  • Positive Feasibility Study completed in March 2015
  • Annual production (First 10 years): 268,000 oz
  • Average gold grade (First 10 years): 1.38 g/t
  • Life of Mine Gold Production: 3.53 Moz
  • Feasibility Mineral Reserves: 3.8 Moz
  • Feasibility Mineral Resources:
    • Measured & Indicated: 5.0 Moz at 0.98 g/t Au
    • Inferred: 1.15 Moz at 0.90 g/t Au
  • AISC operating costs: $779/oz Au
  • CAPEX of $298 million (updated 2020)

Strong Economics

Feasibility Study, March 2015

$1,200/oz Au; $US1:R3.10

  • Post-Tax NPV @ 5%: $US665M
  • Post-Tax IRR of 26%
  • Capital payback <4 years

More Current

$1,650/oz Au; $US1:$R5.5

  • Post Tax NPV @ 5%: $US1.8 Billion
  • Post-Tax IRR of 56%
  • Capital payback < 2 years

Exploration Highlights

  • +120km strike of greenstone belt
  • Excellent brown and green fields exploration targets
  • South Block represents very good mining potential

Project Status

  • EIA (Environmental Impact Assessment) completed in 2012
  • Environmental Licence (LP) granted in 2012
  • Feasibility Study completed in 2015
  • Indigenous Study completed in 2016
  • Construction License (LI) granted in 2017
  • Indigenous Study Completed and Submitted in February 2020
  • Indigenous Study Approved in December 2020
  • Updated Operating and Capital costs updated 2020
  • Preparing for start of Construction: Optimization of mining and engineering plans
  • Evaluating funding options including JV partners

Unique combination of long mine life, robust economics, low capital intensity, low operating costs and meaningful scale represent significant value for shareholders.

Summary & Value Proposition

  • Advancing one of Brazil’s largest undeveloped gold projects in a prolific mining district and mine-friendly jurisdiction
  • Strong Cash Position
  • Advanced stages of permitting
  • Strong Production Profile and Robust Project Economics
  • Large Resources/Reserves and Long-term mineral growth potential
  • Company led by a strong team with a track record of successfully permitting, building and operating mines in Latin America; particularly in Brazil


Management

Management and Directors

Peter Tagliamonte, P.Eng., MBA, President & CEO; Director

Mr. Tagliamonte has over 25 years of progressive managerial experience building and operating mines. He was formerly the CEO and a Director of Sulliden Gold Corp. (acquired by Rio Alto Mining), President and CEO of Central Sun Mining Inc. (acquired by B2Gold) and Chief Operating Officer of Desert Sun Mining Corp. (acquired by Yamana) where he was responsible for the development of the Jacobina Mine in Brazil into a 4,200-tonne-per-day mining operation. In 2005, Mr. Tagliamonte received the Mining Journal's "Mine Manager of the Year" award in recognition for his work in the mining sector.

Rodrigo Costa, General Manager, Brazil

Mr. Costa has over 30 years of technical and operational experience in the Brazilian mining industry, specifically in the mining and processing of gold ore, hydrometallurgical processes and occupational safety.

Ian Pritchard, Chief Operating Officer

Mr. Pritchard is a professional with over 30 years of experience in project and operations management in the mining industry both in North America as well as internationally.

Ryan Ptolemy, Chief Financial Officer

Mr. Ptolemy serves as CFO to a number of public and private companies in the mining sector, particularly exploration and development stage companies in South America.

Joe Milbourne, SME Registered Member, Vice President Technical Services

Mr. Milbourne is a metallurgist with over 40 years of experience in the development, design, construction and management of mineral processing projects in North America, South America and overseas. Mr. Milbourne is the former Vice President of Technical Services and Operations for Sulliden Gold Corp.

Stéphane Amireault, MScA., P.Eng., Vice President Exploration

Mr. Amireault has over 25 years of experience in mineral exploration, particularly in Central and South America. He was formerly the Vice President of Exploration for Sulliden Gold Corporation Ltd.

Mauro Barros, LLB, MBA, Corporate Development & Regulatory Affairs, Brazil

Mr. Barros was a Senior Associate at Azevedo Sette Advogados, one of the largest business law firms in Latin America.

Ricardo De Freitas Lopes, Exploration & Project Manager

Mr. Lopes has 21 years of extensive experience working with regional and detailed gold, platinum, palladium, copper, nickel and phosphorous exploration projects in Brazil, Bolivia, Peru, Canada, Norway and Sweden.

Neil Said, Corporate Secretary

Mr. Said is a corporate securities lawyer who works as a legal consultant to various Toronto Stock Exchange and TSX Venture Exchange listed companies in the mining, oil & gas and technology industries.

Mark Eaton, Executive Chairman

Mr. Eaton is an investment professional with over 20 years of experience in equity capital markets specializing in the resource sector, as well as over 10 years serving as management and/or board member to several public mining companies. Most recently, he acted as President and CEO of Belo Sun Mining (formerly Verena Minerals).

Carol Fries, Independent Director

Ms. Fries has over 30 years of experience in the natural resources and mining sectors managing the preparation and completion of environmental and social impact assessments, EHS (Environmental. Health and Safety) systems, community relations and resettlement programs and other programs central to the mining permitting process.

Peter Nixon, Lead Independent Director

Mr. Nixon has served on the boards of several publicly traded mining companies and has successfully guided many of them through the permitting and development stages.

Rui Botica Santos, Independent Director

Mr. Santos is a qualified lawyer in Brazil and is widely regarded as a leading lawyer in the mining sector and has over 25 years representing and assisting international corporations.


News Update

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