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Arianne Phosphate Inc.

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

Address :  393 rue Racine East, suite 200
Chicoutimi, Québec
Canada G7H 1T2
Tel No.: (418) 549-7316
Fax No.: (418) 549-5750
Toll Free No.: 1-855-549-7316
Web Site: www.arianne-inc.com
E-mail: info@arianne-inc.com
Contact Person: Brian Ostroff
(514) 908-4202
Brian.Ostroff@arianne-inc.com
Position: Chief Executive Officer


Company Data

Traded Market: TSX-V / OTC (US)
Traded Symbol: DAN / DRRSF
Outstanding Shares: 97 million basic
Fully Diluted: 116 million
52 Week High/Low: $1.25 / $0.68
3 Year High/Low: $1.69 / $0.51
Present Price: Click Here


Introduction

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Founded in 1997 under the name Arianne Resources Inc. and listed on the Toronto Stock Exchange in 2003, Arianne Phosphate Inc. (on TSX-V under the symbol, “DAN”) is a Canadian mineral exploration company now focused on developing its Lac à Paul project into a major phosphate rock producer.

The Lac à Paul project is one of the largest greenfield phosphate projects in the world, located in Québec, Canada. The Lac à Paul project consists of several mineralized zones. The Lac à Paul deposits will produce a very high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants, from conventional processing of the Lac à Paul ore. Lac à Paul will provide supply security to key markets within North America and Europe.

The Company’s Management and Board are comprised of professionals from the mining and fertilizer industries, having significant experience with North American and international projects.


Projects in Hand

Lac à Paul Phosphate Project, Québec, Canada

The Lac à Paul Phosphate Project is located approximately 200 km north of the town of Saguenay in the Saguenay-Lac-St-Jean region of Quebec, Canada. The property covers an area of more than 25,000 hectares or 250 sq. km.

The project is situated in proximity to road, rail, deep water seaport and power generation, an important feature which could allow for low transportation costs and operating costs.

The first phosphorus showings at Lac à Paul were discovered more than ten years ago but it was only recently, in 2008, after ore prices and global demand for fertilizer had increased, that the Company made the efforts necessary to develop the project.

On October 25, 2013, Arianne Phosphate released the completion of the feasibility study of its Lac à Paul Phosphate Rock Mine Project. The FS outlines an open pit mine, a concentrator producing a high quality apatite product and a transport system delivering the product to a year round deep water port on the Saguenay River.

Feasibility Study Highlights

  • A 26 year mine life (1:1 strip ratio)
  • Annual phosphate concentrate production of 3 Mt with a grade of 39% P2O5 and with mill recovery of 90.0%
  • NI 43-101 Proven & Probable Reserves of 472 million tons at 6.9% P2O5
  • Additional Measured & Indicated Resources at Manouane Zone of 164 million tons (8 years) at 5.9% P2O5 are not included in Feasibility Study Economics
  • Pre-Tax Net Present Value @ 8% of US$1,910 million
  • Pre-Tax Internal Rate of Return of 21%
  • Pre-Tax Capital payback of 4.4 years before taxes and mining duties
  • Gross revenue of US$16,125 million
  • Operating cash flow of US$7,380 million
  • Initial Capital Cost of US$1,215 million comprising US$983 million for the mine and US$232 million for the concentrate transport system that delivers product to the deepwater Port of Saguenay open 365 days per year
  • All-In Cost onboard the Ship in the Port of Saguenay is US$93.7/tonne life of mine (i.e. FOB Port of Saguenay) with an average selling price of $213/tonne at the port
  • Confirmed power availability of 115M Watt at the Chute des Passes power plant located 30 km from the mine

In late June 2013, the Environmental Impact Assessment (EIA) for the proposed mine was filed for evaluation with the Ministère du développement durable, de l’environnement, de la faune et des parcs (MDDEFP). This is a major milestone in the project’s journey toward startup of the Lac à Paul phosphate rock mine. This filing begins the permit application process for the proposed mine.

The Bureau d'audiences publiques sur l'environnement (BAPE) public consultation sessions were held in spring of 2015. The Minister of the Environment made the BAPE's report public on October 23, 2015.

Arianne Phosphate completed the permitting process by receiving the approval from the Cabinet of the Government of Quebec for the Lac à Paul project on December 22, 2015, which gives the permission it needs to go ahead with its development. The Company will continue its ongoing discussions with potential corporate, strategic and financial partners.

Resources and Reserves in the Paul Zone

  • An updated Measured and Indicated Mineral Resources in the Paul Zone totaling 702.7 million tonnes at an average grade of 7.16% P2O5 at a 4.0% P2O5 cut-off grade.
  • Proven and Probable Mineral Reserves in the Paul Zone are reported to be 472 million tonnes at an average grade of 6.9 % P2O5 at a 3.5% P2O5 cut-off grade.

Paul Zone Mineral Resource Estimate

Resource (cut-off grade: 4.0% P2O5)

Paul Zone + Eastern Extension + Western Extension

P2O5 %

TiO2 %

Ktonnes

Inferred

6.58

6.39

26,010

Indicated

7.05

7.66

385,060

Measured

7.29

7.78

317,640

Indicated + Measured

7.16

7.71

702,700

Paul Zone Mineral Reserve Estimate

Reserve

(cut-off grade: 3.5% P2O5)

Tonnage (Mt)

Grade (P2O5 %)

Proven

313.71

6.92

Probable

158.38

6.80

Total (Proven + Probable)

472.09

6.88

The Paul Zone has considerable potential for extension and is open at depth. In addition, during the exploration and drilling programs conducted in the last few years, six other mineralized sectors were discovered: Lise, Lucie, Nicole, Traman, Turc and Traverse.

Working towards 50 Years

  • Drilling surrounding the Paul Zone has shown the potential of an additional 260Mt to 390 Mt
    • Nicole Zone 78 million tons Inferred
    • Drilling on the Western extension of the Paul Zone extends 1.1 km West
      • Many of the holes showed intersections above 7%
    • TraMan Zone 146 million tons Inferred

Significant progress since the Bankable Feasibility Study

  • Announced a significant reduction to Op Ex (now projected at $79/ton)
  • Secured Hydro deal; has power requirements for the life of mine
  • Produced higher grade (40%) purer quality phosphate concentrate
    • Allows for premium pricing
    • Has greater applications
  • Quebec Government makes an equity investment into Arianne
  • Signed a Cooperation Agreement with the First Nations
  • Secured an expanded and extended credit facility ($18.75M)
  • Received a favorable BAPE (The Bureau d'audiences publiques sur l'environnement) report
  • Received Ministerial Decree from Quebec Government
  • Announced new appointments to the Board and Management

Investment Highlights

  • One of the largest greenfield phosphate projects in the world
    • 830Mt of Measured and Indicated resource
    • Drilling has grown Inferred resource (over 1 billion tons)
  • Produce a very high quality phosphate concentrate
    • 40% P2O5 concentrate (providing premium pricing)
    • Minimal deleterious elements
  • Very long life of mine
    • Currently at 26 years with the stated goal of demonstrating 50 years
  • Safe geopolitical environment
    • Mining friendly
    • Mine permit in hand
    • North America has a growing reliance on foreign rock
    • Infrastructure in place
    • Cooperation agreement with the First Nations
  • Strong government support
    • Largest Quebec mining project in a decade
    • $12.5B in economic benefit to the region
  • Shovel ready


Management

Management and Directors

Brian Ostroff, CEO and Director

Mr. Ostroff has more than 25 years experience in capital markets. Previously held positions with RBC and Goodrich Capital, was Managing Director of Windermere Capital. His area of focus is the junior and mid tier mining sector. Mr. Ostroff has sat on Arianne Phosphate's board since 2014.

James Cowley, Chief Financial Officer and Director

Mr. Cowley is a Metallurgical Engineer with an MBA in Finance. Mr. Cowley has more than 35 years experience in business development, finance, marketing and metallurgical engineering. He has worked in various roles for companies such as Exxon, Climax Molybdenum, Bond International Gold and Rio Tinto. He is currently a full time consultant and employee of Ocean Partners USA.

Jean-Sébastien David, Chief Operation Officer

Born in the Saguenay–Lac-St-Jean area, Mr. David is a geologist, was the former Vice-President Sustainable Development at Osisko Mining Corporation. He has held various positions in mining operations, forestry, environmental and project development for Iamgold, Cambior and Louisiana-Pacific. He has a B.Sc. in Geology and a Masters Degree in Project Management.

Daniel Boulianne, Vice President Exploration and First Nations Relations

Mr. Boulianne holds a Bachelor’s degree in geological engineering. He has more than twenty years experience in mineral exploration geology, working in Quebec, Ontario, West Africa and in French Guiana.

Jean Lamarre, Chairman

Dominique Bouchard, Vice Chairman

Pierre Fitzgibbon, Director

Dave DeBiasio, Director

Marco Gagnon, Director

Siva Pillay, Director

Steven Pinney, Director


News Update

On May 26, 2017, Arianne Phosphate Inc. announced its financial results for the three-month period ended March 31, 2017. The first quarter of 2017 saw significant progress for its Lac a Paul project. Arianne Phosphate has $500,000 cash at end of Q1.

On April 27, 2017, Arianne Phosphate Inc. has signed a memorandum of understanding (MOU) agreement with Groupe Alfred Boivin (GAB) for the trucking of the company's high-purity phosphate concentrate between the Lac a Paul mine site and the marine terminal on the north shore of the Saguenay River. This MOU provides for a research and development program for the final selection of the truck and the creation of the trailer.

On April 11, 2017, Arianne Phosphate Inc. announced that it has signed a memorandum of understanding (MOU) agreement with FLSmidth to provide all production equipment and engineering for the future plant, in collaboration with the various key suppliers involved in the Lac a Paul project development.

On April 3, 2017, Arianne Phosphate Inc. announced that it has signed a memorandum of understanding agreement with a joint venture between SNC-Lavalin and Cegertec to act as project manager consultants and provide project management support, co-ordination and consulting for the Lac a Paul project.

On March 22, 2017, Arianne Phosphate Inc. released its financial results for both the three- and 12-month periods ended Dec. 31, 2016. Arianne has cash of $2.2-million at end of 2016. For full report, please refer to the Company’s website www.arianne-inc.com.

On March 2, 2017, Arianne Phosphate Inc. announced that it has signed a memorandum of understanding (MOU) agreement with ABB Inc. to provide engineering, procurement and support services for integrated electrification and automated mining solutions. ABB Inc. acts as a key technical supplier to the Lac a Paul Project.

On February 23, 2017, Arianne Phosphate Inc. announced that it has secured a favourable power agreement with the Ministry of Energy and Natural Resources. This agreement confirms that an additional power bloc of 14 megawatts from Hydro-Quebec will be made available for the Lac a Paul project's ore processing facilities.

On February 16, 2017, Arianne Phosphate Inc. has signed a memorandum of understanding (MOU) with Constructions Proco Inc., to act as a key technical supplier to the Lac a Paul project. The agreement will cover structural and architectural engineering, steel fabrication, and construction of the mill process, utilities buildings and on-site stock pile storage.

On January 25, 2017, Arianne Phosphate Inc. announced that it has signed a project agreement with Rio Tinto to review potential maritime services sharing. This project agreement provides for discussions focused on Arianne's use of ships serving Rio Tinto to deliver phosphate concentrate to international markets.

On January 19, 2017, Arianne Phosphate Inc. announced that it is seeking the extension on the term of 1,217,500 common share purchase warrants issued as part of a private placement, which closed on July 29, 2013, for gross proceeds of $2,678,500. Each of the warrants, which were part of the units being issued, entitles its holder to purchase one common share of Arianne at an exercise price of $1.45 per common share until Jan. 27, 2017. Arianne has elected to extend the expiry date of the warrants to Jan. 27, 2018. No other warrant terms are amended.

On November 1, 2016, Arianne Phosphate Inc. announced that it has exercised options held on land at Sainte-Rose-du-Nord. The land is projected to be the future site of the port and is required for the development of the maritime terminal, as well as the access roads and supporting infrastructure. It is from this site that Arianne will be shipping its high-purity phosphate concentrate to customers around the world.

On October 28, 2016, Arianne Phosphate Inc. announced that it has closed the second tranche of a loan financing (see press release dated Sept. 29, 2016) representing $1.1-million with various third party lenders.

On October 13, 2016, Arianne Phosphate Inc. announced that it has extended the term of 1,184,500 common share purchase warrants issued as part of a private placement which closed on Oct. 16, 2014, for gross proceeds of $2,369,000. Each of the warrants, which were part of the units being issued, entitles its holder to purchase one common share of Arianne at an exercise price of $1.25 per common share until Oct. 15, 2016. Arianne has elected to extend the expiry date of the warrants to Oct. 15, 2017. No other warrant terms are amended.

On September 29, 2016, Arianne Phosphate Inc. announced that it has closed on a $3-million loan financing with various third party lenders. The securities issued in connection with the loan are subject to a regulatory four-month-and-one-day hold period expiring on Jan. 29, 2017.

On August 25, 2016, Arianne Phosphate Inc. reported corporate and financial results for second quarter 2016. The Company announced its financial results for the three- and six-month periods ended June 30, 2016. The first six months of 2016 have proven to be a very productive period for the company. Arianne has engaged Endeavour Financial to act as its project finance adviser. Arianne shareholders re-elected Jean Lamarre, Dominique Bouchard, Brian Ostroff, James Cowley, David DeBiasio, Marco Gagnon, Siva Pillay and Steven Pinney as directors of the Company. For full report, please refer to the Company’s website www.arianne-inc.com.

On July 22, 2016, Arianne Phosphate Inc. announced that it is extending the term of 2,815,500 common share purchase warrants issued as part of a private placement which closed on July 31, 2014, for gross proceeds of $5,631,000. The warrants were part of the units being issued. They entitle its holder to purchase one common share of Arianne at an exercise price of $1.25 per common share until July 31, 2016. Arianne has elected to extend the expiry date of the warrants to July 31, 2017.

On June 30, 2016, Arianne Phosphate Inc. announced that shareholders re-elected Jean Lamarre, Dominique Bouchard, Brian Ostroff, James Cowley, David DeBiasio, Marco Gagnon, Siva Pillay and Steven Pinney as directors of the Company during the annual general and special meeting of shareholders of the Company held on June 28 in Montreal.

On June 28, 2016, Arianne Phosphate Inc. announced that it has engaged Endeavour Financial to act as its Lac a Paul Project finance adviser. Endeavour's role will be to work with management in reviewing various financing strategies and assist in discussions with potential lenders and partners.

On May 24, 2016, Arianne Phosphate Inc. has released its first quarter financial results for the three-month period ended March 31, 2016. For full report, please refer to the Company’s website www.arianne-inc.com.


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