Bruner Metal Stream
Owned by Canamex Gold Corp, the Bruner gold and silver project is located in Nye County, Nevada. The region is home to several large gold mines, and Nevada is a friendly and safe jurisdiction for the mining industry.
Nevada Gold Mining
Nevada is perhaps the most famous mining gold mining jurisdictions in the world, and remains one of the largest and safest sources of gold globally.
Nevada Mining Overview
In 2017 Nevada produced around 174,000 kg of gold worth USD 9.5 billion at today's values, representing 71% of gold produced in the United States and 5.6% of the world's production.
Total gold production recorded from Nevada from 1835 to 2017 exceed 6.2 million kg, worth over USD 341 billion at today’s values.
Much of Nevada's gold production comes from large open pit mining using heap leaching recovery, such as that to be used at the Bruner project.
Nye County, founded in 1864, comprises more than 44,000 square km in south-central Nevada and is studded with north-trending mountain ranges. The intermontane valleys are not drained, and streams terminate in sinks or salt-encrusted flats.
The most important mineral commodities of Nye County have been precious metals, with several high-quality mines operating in the county.
Canamex’s Bruner Gold & Silver Project
Canamex completed an updated Preliminary Economic Assessment (PEA) on the Bruner project in 2018, showing defined metal resources of around 12,162 kg of gold. MetalStream has signed a forward purchase agreement with Canamex for 1,555.174 kg oz gold, which will be used to back the issuance of an additional 1,555,174 MSGLD tokens as it is delivered.
Canadian Listed company
Canamex Gold Corp is a public listed company incorporated in British Columbia, Canada, trading on the Canadian Securities Exchange (CSE: CSQ). Its primary business is precious metals exploration and mine development
30 years in the industry
Originally incorporated in Alberta, Canada, in 1987 to pursue exploration of minerals. Canamex has a 30 year pedigree in exploration and mine development, and is now focused on development of its Bruner project.
Strong leadership team
Canamex brings together a diverse and experienced team of industry leaders, combining traditional mining with finance, marketing and technology expertise.
Future focused and innovative
Canamex is using a metal stream financing structure to fund development of the Bruner project. This allows Canamex to progress development without diluting shareholders or incurring expenses via debt financing.
Canamex granted exclusive rights to the mineral claims of the Bruner Gold and Silver Project in Nevada, United States.
Exploratory drilling commences. The drill results confirm that Bruner is a highly prolific mining development project for both gold and silver.
Canamex acquires a 70% interest in the Bruner project and arranges financing to purchase the underlying patented claims.
Initial Preliminary Economic Assessment (PEA) of the Bruner project completed, and Canamex acquires 100% of the ownership rights.
David Vincent joins the company as CEO, with a specific mandate to pursue project financing, using the unextracted gold as leverage.
Updated PEA shows improved economic viability for the Bruner project. The company changes its name to Canamex Gold Corporation, and is listed on the Canadian Securities Exchange.
Financing of the Bruner gold and silver project through a forward purchase agreement with MetalStream Ltd for 1,555.174 kg gold. MetalStream will use the gold to back the issuance of 1,555,174 MSGLD tokens.
Bruner has some of the best drill intercepts in Nevada USA, which includes 110m at 4.08g/ton of gold and 57.9m at 5.23g/ton of gold. A typical grade for open cut oxide mines (such as Bruner) is 0.5g/ton.
The project is currently estimated to have total resources of around 12,162 kg of gold and 113,248 kg of silver, with potential expansion of these resources through further drilling, with over 80% of the project relatively unexplored.
At a gold price of USD 46,650 per kg, Bruner’s projected internal rate of return (IRR) is over 60% pre-tax. A good mining operation typically has a pre-tax IRR of 20% and above.
Capital Payback Period
The average annual gold production is forecast at 1,322 kg over 10 years, at an average cost of USD 18,551 per kg for the initial two years, giving a capital payback period of less than 15 months.
As extraction source and facilities over the initial two years of production is located entirely on patented claims, permits can be readily obtained. Furthermore, 90% recovery of gold from crushed material is projected from a single stage of oxide heap leach processing, based on sample testing.