NGEx is a Canadian mineral exploration company with exploration projects in Chile and Argentina. The Company's shares are listed on the TSX and on Nasdaq Stockholm under the symbol "NGQ". The Company's focus is on advancing its' Project Constellation, which contemplates the integrated development of two large copper-gold deposits: Los Helados and Josemaria, located in Chile's Region III and adjacent San Juan Province, Argentina respectively. Both Los Helados and Josemaria are subject to separate Joint Exploration Agreements with joint exploration partners. The Company is the majority partner and operator for both projects.
A Preliminary Economic Assessment of Project Constellation (the "PEA") was completed in early 2016, which contemplates sequential production from an open pit mine at Josemaría (Argentina) followed by a block cave, underground mine at Los Helados (Chile). The two deposits are located approximately 10 kilometres apart, and, it is envisioned that material from both deposits would be processed at a centralized facility. The results of the PEA indicate positive economics and position Project Constellation amongst the largest development projects in South America. According to the PEA, Project Constellation is projected to produce 150,000 tonnes of copper, 180,000 ounces of gold and 1,180,000 ounces of silver per year for 48 years, and is projected to have an after-tax NPV (8%) and after-tax IRR of US$2.61 billion and 16.6%, respectively.
A Technical Report titled "Constellation Project incorporating the Los Helados Deposit, Chile and the Josemaría Deposit, Argentina NI 43-101 Technical Report on Preliminary Economic Assessment" with an effective date of February 12, 2016 and an amended signature date of March 31, 2016 (the "Project Constellation Report") was prepared by Amec Foster Wheeler International Ingeniería y Construcción Limitada ("AMEC") under the direction of Jamie Beck, P. Eng., (NGEx Resources). The report has been filed on SEDAR and is available for review under the Company's profile on SEDAR (www.sedar.com<http://www.sedar.com
The Company has an experienced management team and board with extensive experience in Chile and Argentina and an appropriate mix of geological, engineering, financial, and business skills to advance its projects and to generate value for its shareholders.
The Company's long-term view of the copper market is positive, with the expectation that tightening mine supply, growing demand from developing countries such as China, and increasing world-wide consumer demand for electronic and clean energy technologies, will all contribute to stronger prices and require the development of new greenfield mining projects. The Company's strategy is to create value for its shareholders by expanding and increasing the quality of its resources through successful exploration and advancing the engineering and other studies that are required to prepare its projects for eventual development by the Company and its partners or by third parties. The overall objective is to position the Company as a top tier copper industry investment.