Revolution Resources (RV-T)
www.revolutionresourcescorp.com
91 million o/s
Insiders own 14%
Institutional 65%
$1.6 million cash
Key people:
Robert McLeod – VP Exploration and Director
Mr. McLeod is currently the CEO and Vice-President of Exploration for Full Metal Minerals and a director of Underworld Resources. As mentioned above, Kinross Gold Corporation acquired Underworld for $140M after an initial resource estimate of over 1Moz gold. He is a highly technical, creative and innovative exploration geologist. He has over eighteen years' experience in mining and mineral exploration, working for a variety of major and junior mining companies. Mr. McLeod's exploration strategy is a multi-tiered approach, including: conceptual geologic ideas with prospecting, early-stage project advancement focusing on discovery, and advancing mid-stage projects towards feasibility. As an exploration geologist and project manager at Miramar's Hope Bay project, he was part of the team that discovered the Naartok deposit, as well as expanding and delineating the Boston and Doris deposits. He was previously Vice-President of Exploration for Atna Resources and is currently a director and advisor to several junior exploration companies.
Aaron Keay – CEO, President and Director
Over the course of the last 10 years, Mr. Keay has devoted his energy and time to both the Private and Public market sector, through direct and indirect ownership in a number of different ventures. Schooled from the University of British Columbia in both Science and Commerce, Aaron has served the public markets in a management or director role for the last 7 years. He has raised approximately $250M over the last six years in the public sector and has a specialty in corporate restructuring, and mergers and acquisitions of key projects for the companies he has become associated with.
Aaron is currently the President and CEO of Revolution Resources, and serves as the Chairman of the Board for Inform Resources Corp and Inform Exploration Corp, while serving as a director of Full Metal Zinc, Valhalla Resources, and also sits on the board of Revolution Resources. Prior to his current involvements, Aaron was a founder, director and President of Minaurum Gold, director of Terrace Energy, and an advisory and founder of UNX Energy.
Michael Williams - Chairman
Mr. Williams is currently the President of Full Metal Minerals and a director and advisor to several mining exploration companies, including Underworld Resources. In March of 2010, Kinross Gold Corporation acquired Underworld for $140M after an initial resource estimate of over 1Moz gold. Mr. Williams has significant contacts with both retail and institutional investors and has an extensive investment banking network. He was previously Vice President of Atna Resources, a TSX listed company, where he developed and implemented all of the company's communication and investor relations programs from 1996 through to 2004. Previous to joining Atna Resources, Mr. Williams provided public relations counsel to various sectors including: mining, manufacturing, financial services, hospitality, tourism, and government.
Dr. Peter Megaw, PHD, CPG
President of IMDEX/Cascabel and co-founder of MineraCascabel, MAG Silver, and Minera Mariposa. Dr. Megaw has been working as a geologist in Mexico for 30 years and is credited with significant discoveries at Mag Silver's Juanicipio-Fresnillo, Zacatecas, Platosa, Durango; and Cinco de Mayo, Chihuahua. He and his associates also put together the Mexican property portfolio held previously by Lakeshore Gold, now by Revolution. Peter has been named the 2011 recipient of the Robert M. Dreyer Award for applied economic geology by the Society of Mining Engineers (USA).
Darin Wagner, P.Geo
Currently President and CEO of Balmoral Resources, Mr. Wagner is a Professional Geologist with 20 years of exploration and corporate development experience. Mr. Wagner served as a President, CEO, Director and Qualified Person for West Timmins Mining through the discovery of the high-grade Thunder Creek Gold Zone in Timmins, Ontario and the acquisition of West Timmins by Lake Shore Gold in an all share deal valued at $424 million which was completed in November of 2009.
Hugh Willson, M.Sc, P.Geo
Mr. Willson is a licensed Professional Geologist who has worked in mineral exploration and development throughout the Americas for 35 years. As VP Exploration at Capstone Mining from 2004 until 2010, he directed the exploration program at their Cozamin Property in Mexico and in 2009 and 2010; he developed and managed the exploration program that resulted in the discovery of the footwall zone at Cozamin. Concurrently, from 2007 to 2009, he managed exploration on four silver-gold properties in Mexico for Silverstone Resources and participated in the due diligence work associated with the purchase of silver and gold streams from five mines prior to Silverstone being purchased by Silver Wheaton.
Mr. Willson has worked for a number of other major and junior companies including, Hanna Mining, Newmont Mining, Bema Gold, FMC Gold, Freemont Gold and Magma Copper. At FMC Gold, he was part of the three-man team that identified the exploration target that subsequently became the Penon Mine in Chile.
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Revolution to buy Mexican properties from Lake Shore
Jan 30, 2013 - News Release
Revolution Resources Corp. has entered into a purchase-and-sale agreement with Lake Shore Gold Corp. to acquire 100 per cent of Lake Shore Gold's interests in the Mexico property portfolio, which consists of the Universo, Montana de Oro, La Bufa and Lluvia de Oro properties, totalling over 400,000 hectares in two historic mining regions of Mexico.
Revolution's president and chief executive officer, Aaron Keay, stated: "We believe this arrangement makes sense for both Revolution and Lake Shore Gold. The acquisition of a 100-per-cent interest in the property portfolio gives us flexibility to form strategic partnerships with third parties to advance these highly prospective gold and silver regions in Mexico, while significantly decreasing our financial commitments."
Tony Makuch, president and chief executive officer of Lake Shore Gold, commented, "With this transaction, we are positioning these properties with a very strong and experienced group who can accelerate the time from concept to discovery and unlock value for both Revolution and Lake Shore Gold shareholders."
Under the terms of the new agreement, Revolution is no longer required to exercise its existing option (see Revolution's news releases dated Sept. 15, 2011, and July 26, 2012) and on closing will immediately acquire the subsidiary of Lake Shore Gold that holds 100 per cent of its rights, title and interest in the Mexico properties, subject to certain net-smelter-return royalties. The consideration payable by Revolution under the new agreement is:
- 20 million common shares of Revolution, issuable on closing, subject to certain sale restrictions as described below;
- The grant to Lake Shore Gold of the following royalty interests:
- A 2-per-cent net-smelter-return royalty on the Universo property;
- A 3.5-per-cent net-smelter-return royalty on the properties comprising the Montana de Oro project forming part of the Montana de Oro property;
- A 2.5-per-cent net-smelter-return royalty on the properties comprising the La Bufa project forming part of the Montana de Oro property;
- A 2.0-per-cent net-smelter-return royalty on the properties comprising the Lluvia de Oro project forming part of the Montana de Oro property.
Subject in each case to certain rights of Revolution to repurchase a portion of the NSR, and:
- On or before Dec. 31, 2017, $5-million in cash or common shares valued at the greater of 20 cents and a five-day volume-weighted average trading price.
In addition to the applicable four-month hold period under Canadian securities laws, Lake Shore Gold has agreed to certain restrictions on the transfer of shares issued to it under the new agreement for a period of 18 months following the date of issuance. The new agreement also contains a standstill provision that prohibits Lake Shore Gold from acquiring additional shares and taking certain other actions without Revolution's consent for 18 months following the closing date.
In addition, on closing and through 2014, Lake Shore Gold will have the right to at least two nominees to the board of directors of Revolution and Lake Shore Gold will continue to have rights to appoint one or more nominees depending on its level of ownership for so long as Lake Shore Gold holds at least 5 per cent of the outstanding Revolution shares.
Completion of the transaction is subject to acceptance of the Toronto Stock Exchange, which Revolution anticipates will involve approval of the shareholders of Revolution by ordinary resolution. Assuming no Revolution shares are acquired by Lake Shore Gold or issued prior to closing, the 20 million common shares issuable by Revolution to Lake Shore Gold on closing will result in Lake Shore Gold holding a total of 26,713,740 Revolution shares or 22.7 per cent of the outstanding Revolution shares.
Universo
The Universo property is over 100 kilometres long and 35 kilometres wide. It is surrounded to the north by Goldcorp's Camino Rojo gold-silver deposit (Canplats Resources, purchased by Goldcorp) and Penasquito gold-silver-lead-zinc mine. To the south lies Grupo Mexico's Charcas zinc-copper mine, the largest zinc producer in Mexico, and to the east, First Majestic's Real de Catorce silver project, in addition to many other prospects and historic mines. In addition, New Gold's Cerro San Pedro gold-silver mine is located 100 kilometres farther south, and the 370,500-hectare Universo property occurs in the heart of this 300-kilometre-long trend. Despite the property's strategic location, only limited modern exploration has been performed, the last known drilling being 18 years ago. To date, Revolution has identified 25 surface showings, prospects and anomalous zones on the highly prospective Universo property.
Montana de Oro
The Montana de Oro property described in the new agreement includes the Montana de Oro, La Bufa and Lluvia de Oro projects.
Montana de Oro project
The Montana de Oro project covers 26,516 hectares and is located 25 kilometres south of Coeur D'Alene's Palmarejo mine, 20 kilometres north of Pan American Silver's Alamo Dorado mine and near several other advanced precious-metal projects. Currently, 17 areas of gold mineralization and a carbonate-replacement discovery at La Concepcion have been identified on the property. As well, four undrilled copper porphyry-style targets with high-grade copper and gold values occur on the property. Historic drill results include 4.8 metres averaging 9.58 grams per tonne gold and 121.78 grams per tonne silver with 1.45 metres at 35.6 grams per tonne gold and 93 grams per tonne silver at the El Rodeo and La Violetta vein target, 3.05 metres averaging 3.1 grams per tonne gold and 108.28 grams per tonne silver at the Don Pancho vein target, and 4.47 metres averaging 30.3 grams per tonne silver, 16.5 per cent zinc and 0.97 per cent copper at La Concepcion.
La Bufa project
The 18,213-hectare La Bufa project is located 30 kilometres east of Goldcorp's El Sauzal mine and is centred on the historic Carmen copper-gold mine. The La Bufa property also includes the historic Golondrina and San Fernando mines and five of Revolution's newly identified prospects. Prior to Revolution's 2012 exploration program, only limited work had been performed on the property. Multiple new gold, silver, copper and molybdenum prospects and historic mines were identified on the property, the majority of which were not drilled. The property is centred on the historic Carmen mine, which reportedly produced approximately one million tonnes grading 2.5 per cent copper, 2.9 grams per tonne gold and 2.8 grams per tonne silver between 1947 and 1958 from a vein system with vertical development from 1,500-metre to 1,100-metre elevation. These historic production figures are from historic company documents and government records. A qualified person has not independently verified these production figures and they should not be relied upon.
Lluvia de Oro project
Lluvia de Oro is located 30 kilometres east of the Montana de Oro property and situated along the same east-northeast trend as the La Bufa property. Historic records of the 391-hectare property indicate that between 1898 and 1915, and during the early 1950s, approximately 100,000 tonnes of ore were mined, averaging 95 grams per tonne gold and 865 grams per tonne silver. Underground samples from the property averaged 4.65 grams per tonne gold and 32.71 grams per tonne silver, including 45.6 grams per tonne gold over 1.6 metres. The high-grade values of gold and silver mineralization at Lluvia de Oro occur both as broad disseminated zones up to 35 metres in width developed as mantos in silicified limestone and in discrete veins up to 12 metres in width in limestone, dacite porphyry and andesite.
Technical disclosure in this release was prepared by and approved by Robert McLeod, PGeo, vice-president of exploration and qualified person for Revolution Resources.
We seek Safe Harbor.
Company presentation
revolutionresourcescorp.com |
