Big Picture – A Deep Dive Examination of Mundoro Capital Inc.
Mundoro Capital Inc. Snapshot
Mundoro is a Canadian based public company which is focused on generating value for its shareholders through utilizing the collective expertise of our directors, management and technical staff to investment in mineral projects that have the ability to generate future cash.
Future cash from a mineral property can be in various forms such as royalties, an interest in commercial production, dividend payments or sale of interest in the mineral property. These are the key exit criteria we seek for any project in to which Mundoro invests.
In Serbia, Mundoro methodically staked a district-scale land position in the prolific Timok Mining Camp which hosts significant Gold-Copper deposits. Mundoro has generated drill targets and is actively pursuing joint venture opportunities for this package.
In Bulgaria, Mundoro proactively staked a land position in an under explored region of the Rhodopes know for precious metal deposits. Mundoro has generated drill targets and is actively pursuing joint venture opportunities for this ground.
Management and the Board have a clear and achievable vision with the right technical expertise that puts Mundoro in the best position to create long-term shareholder value. Our objective is to use our international expertise in mineral finance, project evaluation, exploration and project development, together with our skilled and dedicated team, to grow Mundoro’s value as we create long-term shareholder value.
- Strategic location at the crossroad of Central and Southeastern Europe
- Mining history dating back to the Middle Ages
- Increased mining exploration resulting from political stability improving economy
- Competitive corporate and personal tax regime
- Low overhead costs and incentives for foreign investment
- Transparent and fast process for company registration
- Wide availability of highly qualified and affordable labour force
- EU member since January 2007
- Mining Law established 1999
- Source of base and precious metals since Roman times
- Emerging precious metals belt
- Highly skilled and affordable labour force
- Corporate tax rate of 10%
- Unrestricted transfer of profits and capital
Throughout 2010, Mundoro continued its efforts to communicate with the Liaoning government and the Company’s joint venture partner regarding the status of Tianli’s business license for the future development of the Maoling Gold Project. The Company attempted to attain a resolution that involved either: a strategic transaction with a Chinese group; receiving the necessary licenses to develop the Maoling Gold Project directly; or obtaining compensation from the relevant Chinese government. The Company also evaluated legal alternatives in China.
The Company was in negotiations and various levels of due diligence with a Chinese publicly listed company, a Chinese state-owned company, and other companies in order to determine if a strategic transaction could be structured such that the Chinese group would acquire the Maoling Gold Project and the Company would retain a minority interest or a form of participation in the event the Maoling Gold Project is developed in the future. Despite the Company’s best efforts, the Joint Venture’s business license and exploration license were not renewed and the Maoling Gold Project remains stalled.
This region of Mexico is referred to as the Mesa Central Block and is a well-known mining district, historically exploited for Ag-Pb-Zn deposits associated with Tertiary Volcanism and Epithermal veins or replacement deposits along porous horizons. The discovery of Penasquito, approximately 120 km to the east of the Cuencame Property, along with other recent discoveries on this belt, has shown the potential for bulk tonnage deposits that can host significant gold mineralization. Approximately 25 km west of the Cuencame Property, is the Velardena Properties which have disclosed over 30 million tonnes of silver, gold, lead and zinc mineralization.
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Ms. Dechev has diverse experience in the minerals sector which is uniquely positioned to bring value to Mundoro Capital. She brings both a technical understanding of the key issues in our sector through a solid foundation of a Geological and Mineral Engineering Degree as well as the practical understanding of the challenges facing exploration and development companies through extensive capital markets experience and hands on management experience.
Ms. Dechev’s capital markets experience has developed through positions held at well recognized bank-owned and independent investment banks in Canada. In the capital markets, her career has covered institutional equity research, corporate finance and merger and acquisitions primarily focused on the resource sector, but also covering, technology, financial institutions and diversified products sectors. Prior to joining Mundoro Capital, she was a Vice President in Corporate Finance at a Toronto investment bank, advising resource companies for financings, IPO’s and mergers and acquisitions mandates.
Throughout her investment banking career she has participated in financings for over half a billion dollars to fund companies at various stages of exploration, development and production. Beyond raising capital, Ms. Dechev gained the ability while an Institutional Equity Research Analyst at a boutique investment bank in Toronto, to identify quality projects and management teams that could deliver on shareholder value creation. Ms. Dechev published in-depth, institutional equity research on resource companies at various stages ranging from early exploration right through to production.
As commodity prices are an important aspect of the mineral resources sector, Ms. Dechev has gained insightful knowledge through hands on experience over three years in working with a mineral resources company to manage their commodity and derivatives trading program for gold, copper and silver.
Ms. Dechev has an MBA from the Schulich School of Business at York University in Canada, a Bachelor of Applied Science and Engineering in Geological & Mineral Engineering from the University of Toronto and is a licensed Professional Engineer in both British Columbia and Ontario. Ms. Dechev sits on the Executive Board of the University of Toronto’s Engineering Alumni Association as well as the Advisory Board of the Pierre Lassond Mineral Engineering Program at the University of Toronto. Ms. Dechev has sat on the board of Geomega Resources Inc. where she held the position of Audit Committee Chair and subsequently the Compensation Committee Chair.
Mr. Magaranov has over 19 years international mineral exploration and evaluation experience in a range of geographic locations in Eastern Europe, Middle East, Latin America, West Africa and Asia. Much of his experience was gained working as project and senior project geologist for Anglo American and Rio Tinto. He has managed drilling programs, designed and participated in targets generation and project evaluation programs for Gold, base metals and iron ore in the Russian Far East, Chile, Turkey, Iran, Mali and Ghana (West Africa). Mr. Magaranov is a Qualified Person as defined by National Instrument 43-101, and is a Member of the Institute of Geologists of Ireland, European Federation of Geologists, Bulgarian Geological Society and the Society of the Economic Geologists. Mr. Magaranov holds MSc degree in Exploration and Economic geology from the University of Mining and Geology, Sofia, Bulgaria.
Professional geologist with 20+ years experience in running exploration programs for Rio Tinto, Newmont & select junior exploration companies in Eastern Europe, Middle East, Latin America, West Africa and Asia.
John J. Hoey
Mr. Hoey has a B.S. in Mechanical Engineering from the University of Notre Dame and an MBA from Harvard University. He became a Director of the Company in 2008 and Chairman of the Board of Directors in July, 2009. He is a member of the Audit and Corporate Governance Committees. Since 1975, Mr. Hoey has been the President of Beneficial Capital Corp, a N.Y. investment company. He is a co-founder and former Director of Swedish publicly quoted Tethys Oil AB; co-founder and former Director and Chairman of the Investment Committee of Vietnam Holding Ltd, a LSE AIM quoted private equity fund. From 1993 to 1998, until the merger with Lonmin PLC, he was the President and CEO of ASE publicly traded Hondo Oil & Gas Co. From 1985 to 1991, he was associated with the Atlantic Petroleum Corp. of Pennsylvania, including serving as President and Director of Atlantic Refining & Marketing Corp., until its sale to Sun Co. in November 1988. From 1972 to 1984, Mr. Hoey held various executive positions in commercial and investment banking in Saudi Arabia, England and the USA. From 1967 to 1971, he served in the U.S. State Department in Saigon, South Vietnam with responsibility for the manufacturing and commercial sectors as a Foreign Service Officer. From 1961 to 1967, he worked as an engineer in numerous manufacturing sectors in the USA and Europe.
Mr. Calyniuk holds a Bachelor of Commerce, Information Systems Major from University of British Columbia; he is a Chartered Accountant and was named Fellow by the B.C. Institute of Chartered Accountants (FCA) in 2009. He is a graduate of the Institute of Corporate Director’s education Program (ICD). Mr. Calyniuk recently retired after serving for 24 years as a Partner with PricewaterhouseCoopers LLP in audit, advisory and various senior global management roles. Mr. Calyniuk also is the B.C. Chapter Chair of the Canadian Institute of Corporate Directors, which fosters excellence in directors to strengthen the governance and performance of Canadian corporations and organizations. The institute achieves this through education, certification and advocacy of best practices in governance. Mr. Calyniuk is the Past Board Chair of the BC Advanced System Institute and Co-Chair of the BC innovations Council. He is also Chair of the Audit Committee and a member of the Compensation and Nominating & Corporate Governance Committees.
Mr. Brown holds a BSc. from the University of Strathclyde, Glasgow and a MSc. from James Cook University, Australia. He has been a Fellow of the Society of Economic Geologists (“SEG”) since 1999, participated in the Colombia Senior Executives Program in 2004 and the Duke Business Leaders Program in 2007. He is a past councilor of the SEG and current British Geological Survey industry advisor and Natural History Museum honorary research fellow. In 2011 he was the co-recipient of the PDAC Thayer Lindsley Award. Mr. Brown joined Amax as an exploration geologist in 1980 and worked on a variety of exploration and mining operations in the Circum-Pacific region. For a decade Mr. Brown worked as a consultant involved with the exploration and evaluation of a number of major discoveries in both Asia and Europe. In 1994 he joined Minorco as Chief Geologist. Subsequently he became the region’s Vice President Exploration and, following the Minorco-American Anglo plc merger in 1999, he served as Vice President Geology. In 2003 he was appointed Senior Vice President Exploration and managed geosciences, technical services, and R&D programs. In 2005 he was promoted to Head of Base Metals Exploration and in 2009 he took up the position of Group Head of Geosciences for the Anglo American Group. Mr. Brown’s awards and recognition during this period include: Los Sulfatos (PDAC), Sakatti (FEM) and most successful major base metals explorer (MEG). Exploration discoveries credited to his team include: Boyongan and Bayugo (Cu-Au) in Philippines, Morro sem Bone and Jacaré (Ni) in Brazil, Gamsberg East (Zn) in South Africa, Gergarub (Zn) in Namibia, West Wall, San Enrique Monolito and Los Sulfatos (Cu-Mo) in Chile, and Sakatti (Ni-Cu-PGE) in Finland.uat.
Throughout his 20+ year career in accounting, auditing and financial planning, Chris has established a reputation for aligning financial and business metrics to support business strategy at technology and mineral exploration companies. Prior to joining Mundoro, Chris was CFO of a cloud based technology company, where he was responsible for the overall financial strategy and direction of the Company, as well as human resources. Within finance, he guided the treasury, accounting, tax, audit, financial planning and analyses functions to pursue that company’s growth strategy. Previously, Chris held various positions in Finance at both public and private companies including Go2mobi, Silverado Gold Mines, VisionDirect.com and Hunter Dickinson. Chris holds an MBA from Queen’s University, and is a Chartered Professional Accountant (CPA) and Certified Management Accountant (CMA).
With over 30 years of extensive experience in regulatory and corporate compliance in both Canada and the United States, and as a senior officer for various public companies, Donna’s knowledge and ability to identify the needs of her clients is impressive.
Professional geologist with 15+ years experience in project logistics and resource programs.
Professional engineer with 22+ years experience in GIS and Database Management with Rio Tinto & select junior exploration companies.
Between May 1996 to February 2008, Mr. Moores was the CEO, President and director of Anatolia Minerals Development Limited, a publicly listed mineral resources company focused on exploration and development in Turkey which discovered several large copper and gold deposits of which the Copler Gold Mine was put into production in 2011. Mr. Moores began his career with the metals/minerals departments of Conoco and Mobil, where he helped discover and/or develop copper, uranium, gold and synfuels projects. Specializing in porphyry-style deposits, he has worked with or created a number of resources companies, both private and public directing exploration and development programs in a wide range of countries including the USA (Florence Cu, Sanchez Cu SXEW, et al), Kazakhstan (Balkhash Cu), Mongolia (Erdenet Cu SXEW), Turkey (Copler ~7 million Au oz @ ~220koz/yr) and Colombia (Toldafria Gold, et al), among others. Mr. Moores holds a Bachelor’s Degree in Geology from Cornell University, a Masters in Geology from the University of Arizona and an MBA from the University of Arizona. In the past Mr. Moores has served as the Chair of the Compensation Committee and a member of both the Audit Committee and Nominating & Corporate Governance Committee.
Alan has over 35 years of operational and project management experience across a broad range of commodities to the senior corporate level in the international mining industry. His technical expertise covers geometallurgy, hard rock / alluvial mineral processing, and heap leaching as well as hydrometallurgy (Au, Cu, Ni/Co, U) and pyrometallurgy including base metals concentrate marketing. Prior to his current consulting role, Alan held the position of Chief Operating Officer for Mundoro between 2006 and 2010 for the development of the Maoling Gold Project. Prior to working at Mundoro, Alan was COO for Goro Nickel from 2004-2006, responsible for the re-creation of the operating team following the suspension and subsequent restart in October 2004 of a multi-billion dollar 60,000 tpa nickel project in the Pacific region that employed 800 people. Previously, he held the same position for Rio Narcea Gold Mines from 2001-2004, operating in Spain with responsibility for several open pit mines (in transition to underground) and the processing of a complex Au-Cu ore. He was also heavily involved in significant corporate transactions and project evaluation work. His broad technical background has been applied to feasibility study management, due diligence and project evaluation work and also to metallurgical process design and project optimisation work. His operational skills include continuous improvement projects in complex technical environments that require an integrated approach and knowledge of geology and mining as well as his core discipline of metallurgy.
Shares outstanding - Basic 52,120,109
Warrants (@$0.20) 4,166,667
Shares outstanding - F.D. 59,524,276
MUNDORO'S CORPORATE ADDRESS
1040 West Georgia Street, 15th Floor
Vancouver, B.C. V6E 4H1
Teo Dechev, CEO& President, Director
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Kneza Milosa 9, 11000
T: +381 11 3243614
Blvd Evlogi Georgiev 14, ap 4
T: + 359 2 4237 880