EXPLORE WHO CORO MINING IS

About Coro

Coro Mining is a Canadian-quoted copper exploration company focused on exploring and developing new sources of copper to supply an increasing global demand for this essential commodity.

Our vision is to create significant value for our shareholders and stakeholders by realizing the full potential of our flagship Chilean asset Marimaca in Chile’s Antofagasta Region, which has the promise to become one of the most significant copper‐oxide discoveries in recent years.

Marimaca is fast becoming recognised as one of the most significant copper discoveries in Chile in recent years. It represents a new type of deposit which challenges accepted exploration wisdom and may open up new frontiers for discoveries elsewhere in the country. Marimaca is hosted by intrusive rocks while the numerous manto deposits in the same region are hosted by volcanics.

With a lack of new copper exploration discoveries in Chile, the Marimaca resource is a high-profile development project, due to its location in the coastal belt at low elevation, close to Antofagasta and Mejillones. This prime location could enable its future development at a relatively modest capital investment. Marimaca would benefit from nearby existing infrastructure including roads, powerlines, ports, a sulphuric acid plant, a skilled workforce and water.

The Company’s shares are quoted on the Toronto Stock Exchange (TSX) under the symbol COP.

Why Chile?

Chile is the world’s largest copper producer and exporter, accounting for approximately 20% of annual mine production. Industrial-scale copper production began in the early 1900’s and Chile has since built up an established industrial and commercial infrastructure as it became the world’s leading producer of copper.

This includes significant infrastructure and a copper mining cluster of technical and professional services which Coro will be able to benefit from as it advances engineering studies at its Marimaca project. With the project located in the coastal belt at low elevation close to Antofagasta and Mejillones, its future development would benefit from nearby existing infrastructure including a skilled workforce and mining technical and administrative support services and excellent infrastructure in close proximity, including roads, powerlines, ports, a sulphuric acid and water supplies.

Ranked 6th in the 2018 global Overall Investment Attractiveness Index by the Fraser Institute, Chile is considered one of the world’s low-risk mining jurisdictions with a clear legal framework, a supportive government and administration as well as an abundance of available skills and labor.

A geographically varied country, Chile is rich in mineral deposits, natural forests, sea resources and energy sources. With a population of approximately 18 million, the country is considered South America’s most economically stable and prosperous nation.

Why Copper?

Demand for copper is forecast to be strong over the medium to long-term due to population growth, urbanization, electrification and potentially new demand related to an increase in uptake of electric vehicles, electrical vehicle infrastructure and renewable energy technologies. On the supply side, a deficit is forecast in the coming years due to declining production, an absence of new mines coming on stream, the deteriorating quality of new resources and a lack of large-scale exploration successes to replace depleting copper reserves.

Coro’s management believes the Marimaca project has the potential to become one of the most significant open-pittable copper oxide deposits discovered in Chile in recent times and as it advances towards development the project will benefit from these positive supply fundamentals, a consequent improvement in the copper price and copper project valuations.

Objectives & Strategy

Coro Mining is committed to creating value for our shareholders and stakeholders by unlocking the full potential of the Marimaca project. This will be achieved by delivering on our objectives and strategy.

Over 2019 Coro achieved its two main objectives, namely:

Land ownership Establishing 100% control over the Marimaca project when it announced the acquisition of area in September.
Expanded Mineral Resource Complete the Marimaca Phase II exploration program and publish an expanded mineral resource in December.

To realise the value of the these achievements in 2020, Coro is focussed on advancing a range of engineering studies and further exploration.

Engineering Studies Working with independent consultants Coro intends to move Marimaca from a cents-per-pound-in-the-ground valuation to a credible development company valued on a net present value basis with studies for:

The economics for a conventional full-scale project at Marimaca Low capex alternatives for a staged development at Marimaca, leveraging the nearby Ivan SXEW plant (100% owned by Coro). The objective of this staged development would be to minimise upfront capex and limit equity dilution to Coro’s shareholders.
Exploration Furthermore, the potential exists for the discovery of additional copper oxide mineralisation along strike of the already expanded resource which may lead to a further increase in this already significant oxide resource and sulphide mineralization at depth. In that regard, sulphide and district scale exploration work programs are also underway.

Why Invest?

Marimaca is an attractive deposit

Marimaca as one of the largest copper discoveries in northern Chile for over a decade and the December 2019 Mineral Resource Update demonstrates the project potential for an open-pittable copper oxide deposits.
Marimaca’s location is ideal. It is at low altitude in Chile’s Coastal Copper Belt, 25km east of the port of Mejillones and 45km north of Antofagasta, with ready access to a skilled workforce, water and power as well as supplies of sulphuric acid and consumables. Roads, rail networks and deep-water ports are in close proximity. Well-funded with a clearly defined exploration program to increase Marimaca’s resource base.

Copper is the right commodity

Positive copper market fundamentals will benefit the development of Marimaca as supply tightens and prices look set to increase.
Strong copper demand outlook due to population growth, electrification and urbanization.
Forecast supply deficit coming due to declining production at existing mines and a lack of major new discoveries.

Coro set for growth

Supportive shareholder base and experienced multi-disciplined board & management team with wide experience across exploration and project development in Chile and globally.
Development optionality, with potential for conventional full-scale project and low capex alternatives leveraging of owned nearby Ivan SXEW plant and proximity to infrastructure.
As development options progress, a shift from a “cents per pound in the ground” exploration project to a credible development Company to be valued on a net present value basis.

Leadership

Coro Mining is led by an experienced board made of independent directors, significant shareholders and executive management, and managed by a team of highly-experienced professionals in the fields of exploration, development, operations as well as the capital markets, most of whom are shareholders in the business.

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Governance

Strong corporate governance is essential in today’s business environment. Consistent with National Policy 58-201 in Canada, the Board has:

  1. An Independent Director as the Chairman of the Board;
  2. A written mandate which outlines the specific responsibilities for stewardship of the Company, and;
  3. Adopted a written mandate for each of its Committees; Audit, Compensation and Corporate Governance.

The Company has also adopted the recommendations of Multilateral Instrument 52-110 for Audit Committees and as part of these recommendations has established a whistle-blower policy.

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Careers

If you have the ambition to grow, if you can overcome challenges, work as a team player, like to contribute new ideas and have a positive attitude, come join us at Coro!

We are a Canadian copper exploration company in Chile that operates with a sustainable mining model, based on the principles of quality, safety and value of people and their ideas.

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ESTMA Reports

The Extractive Sector Transparency Measures Act (the Act) was enacted on December 16, 2014, and brought into force on June 1, 2015. The Act delivers on Canada's international commitments to contribute to global efforts to increase transparency and deter corruption in the extractive sector by requiring extractive entities active in Canada to publicly disclose, on an annual basis, specific payments made to all governments in Canada and abroad.

Excerpt from Natural Resources Canada website.

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