Peruvian Precious Metals (V.PPX) taking a focused approach in Peru gold belt

Stockhouse Editorial
2 Comments| September 4, 2013


Q & A interview with Peruvian Precious Metals’ (V.PPX) Kimberly Ann, VP Corporate Development

Tell me about Peruvian Precious Metals

Peruvian Precious Metals Corp. (TSX: V.PPX, Stock Forum) is a Canadian based precious metal exploration and mine development company focused on Peru.  Our flagship project, Igor, is located in the heart of the northern Peru gold-silver belt and is surrounded by numerous operating gold and silver mines and projects under development.  With the right geologic address and being in area with considerable infrastructure to aid development, our project could not be more strategically located.  Within the Igor project area, there are four distinct targets, highlighting the district-scale development potential of Igor. 

Our current area of focus is the Callanquitas structure, a brand new discovery with good gold and silver grades that remains open along strike and at depth.  Favorably situated with respect to topography, the Callanquitas gold and silver mineralized zone has the potential to support a low cost underground mining operation.  With an additional three targets at the Igor project, it easy to appreciate the upside potential of the Igor project.
 
Which other companies are in your neighborhood?

Some of our neighbors include Barrick Gold Corp. (TSX: T.ABX, Stock Forum) (NYSE: ABX, Stock Forum), Rio Alto Mining Ltd. (TSX: V. Rio, Stock Forum), Sulliden Gold Corp. (TSX: T.SUE, Stock Forum), Newmont Mining Corp. (NYSE: NEM, Stock Forum), and Compania de Minas Buenaventura (NYSE: BVN, Stock Forum). What’s exciting about our neighbors are two things:  We share the same geology and the same permitting jurisdiction. 

Lagunas Norte and La Arena are particularly interesting as they are very close to us, they have been built and permitted in the last few years and they are both in the Department of La Libertad.  This is important because La Libertad has taken a very proactive and supportive stance to new mining projects and the local government recognizes the positive impact mining development can have on the nearby communities.  The fact that we share the same geologic setting as these nearby multimillion ounce gold deposits is exciting for our geologic team as it gives an excellent model to use during our own exploration program.
 
Why do you think investors should be interested in this project?

Investors should be interested in Peruvian Precious because of many exciting factors that will facilitate rapid project success. It is a new gold and silver discovery, in a mining friendly jurisdiction with a proven management team that knows how to effectively move projects forward quickly. Igor has the potential for a short development timeline which can help Peruvian Precious move quickly to a production decision.

What are your plans for the property for the remainder of the year?

We have a 6,000-metre drill program planned with the intention of putting out a new resource estimate by Q1 of 2014 to demonstrate the potential of the Callanquitas structure and to underscore the ability to increase the resource size and grade

What are the plans for 2014?

To continue to drill, step-out drilling to demonstrate resource expansion potential, and a PEA to establish the project economics.

How did you become involved with the company?

Jorge Benavides, our current Chairman was a board member at the predecessor company to Peruvian Precious Metals (Sienna Gold).  Jorge had worked with Brian Maher, our CEO, in the past at Hochschild and knew the strength of the former Prodigy Management team.  As soon as the Prodigy/Argonaut transaction closed, Jorge contacted us about the opportunity at Igor and the company in general.  Once Brian and I visited the project in person, we were convinced that this was a great business proposition and we agreed to take over management of the company.  

Tell me about the experience you and your management team bring to Peruvian Precious Metals?

When you look at the CV’s of Tony Wood, our CFO, Brian and myself one immediately noticed the breadth of experience we possess in all aspects of junior company management:  finance, operations, exploration, mine development, business development and marketing.  One person can’t do it all and that is why we believe that we make an excellent team.  We only have to look at our success at Prodigy to validate our business model.

What is your financial position in terms of carrying out your proposed work program?

Right now we are in the midst of putting together a $1.5M financing that should allow us to resume drilling at Igor on the Callanquitas structure.  The markets are challenging in 2013, meaning that we need to raise funds in a more deliberate and well-timed manner to avoid unnecessary dilution.  We anticipate with the resumption of drilling and the subsequent positive news flow, that additional money, if needed, can be raised at higher share prices later this year.

Disclosure: Peruvian Precious Metals is a Stockhouse client. 

Tags: INDUSTRIAL METALS & MINERALS GOLD

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Comments

imtesty
Would do a bit of research before assuming t his is beneficial to local community. http://en.m.wikipedia.org/wiki/Conacami http://www.pugetsound.edu/files/resources/1465_Vienna%20Saccomanno.docx
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October 2, 2013
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larryhunt76
yup, really nice for an overnighter http://goo.gl/7BwBS
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September 4, 2013
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