Why Invest with Us
- Ground floor opportunity in a brand new Lundin exploration vehicle
- Experienced, successful team backed by some of the most successful resource investors in the world
- Strong network to source new opportunities
- Los Helados- Exposure to rising copper and gold prices through ownership of a strategic resource in an operating mining district
Q1 2021 OPERATING HIGHLIGHTS
Successful Renegotiation of Los Helados Surface Access Agreement
Historically, the Company has had a contractual agreement with the owners of the surface rights covering Los Helados, which gave the Company access over these surface rights for exploration, development, and mining through to closure of any mining operation, in exchange for certain payments which are linked to project activities and certain development milestones (the “Original Surface Access Agreement”).
On January 26, 2021, the Original Surface Access Agreement was mutually terminated by the Company and the holders of the surface rights and replaced with an interim surface access agreement with an effective period of three years (the “Interim Surface Access Agreement”). The Interim Surface Access Agreement reduces the Company’s payments to the holders of the surface rights to coincide with the current, reduced level of activities at Los Helados properties. As a result, the payments by the Company to the holders of the surface rights have been reduced, with US$200,000 paid upon execution and another US$200,000 to be paid in January 2022. In return, during the effective period of the Interim Surface Access Agreement, the Company is permitted to access the surface rights for conducting environmental data collection, site visits, and general maintenance of the Los Helados properties, but prohibits the undertaking of programs for the purposes of exploration or development.
Continuation of Business Development Strategy
During the first quarter of 2021, the Company continued to focus on the assessment of potential acquisition targets pursuant to its business development initiatives. The ultimate objective of these initiatives is to identify assets to add to and complement the Company’s existing asset portfolio, which would position NGEx Minerals as a premier mineral exploration-development investment vehicle.
As of the effective date of this MD&A, no discussions with counterparties have progressed to the execution of contractual agreements, and the Company continues to be patient and diligent in its search for its next cornerstone asset, which will complement its current exploration portfolio. While at any given time discussions and activities may be in progress on a number of these potential acquisition targets, there is no assurance that these corporate activities will ever progress to the stage where a potential acquisition might be successfully completed.
NGEx has adopted governance practices that meet Canadian governance standards and are responsive to changes in regulations and best practices and continually monitors developments and trends.