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Industry

Real Assets

Company Type

Mining Metals

Size

$20 Million

Investment Type

Equity

For additional information, please contact:
Anna M. Moisuc | Managing Director
(332) 207-8267

Goldrich Mining is raising $20 million ($10 million in equity and a $10 million gold forward sale $1,200/oz) to bolster its mining operations in the Chandalar district while leveraging its position in a rich mining jurisdiction by opening the Chandalar gold placer mine

  • Independent Analysis: Has outlined 135,000 ounces; potential for for over 200,000 ounces

 

  • World-Class Potential: Utilizing advanced mining technologies, Goldrich has pinpointed several promising hard rock gold targets

 

  • Permitting in progress: Expected in time for 2025; previous history of successful permitting. 17,100 ounces produced in 2018; no identified roadblocks to repermitting

 

  • Tier-One Jurisdiction: Operating in Alaska- host to multiple world-class gold deposits and mining-friendly jurisdiction

 

  • Significant Infrastructure: 25-person camp on site with arrangements in place for production capacity of 500 yards per hour. Placer wash plant, heavy equipment, 1.3-kilometer airstrip and 45-kilometer network of roads

Disclaimer

         THIS PRESENTATION DOES NOT CONSTITUTE AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITY.  ANY SUCH OFFER ONLY MAY BE MADE TO “ACCREDITED INVESTORS”  PURSUANT TO THE COMPANY’S CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM AND RELATED DOCUMENTS (THE “MEMORANDUM”).  THE SECURITIES OFFERED PURSUANT TO THE MEMORANDUM ARE SPECULATIVE AND INVOLVE A HIGH DEGREE OF RISK.  SEE “RISK FACTORS”  IN THE MEMORANDUM.  THE STATEMENTS MADE IN THE PRESENTATION ARE QUALIFIED IN THEIR ENTIRETY BY THE DISCLOSURES MADE IN THE MEMORANDUM, WHICH EACH INVESTOR MUST READ IN DETAIL, AND CONTAINED IN THE COMPANY’S FILINGS WITH THE SEC.

This presentation contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Legislation Reform Act of 1995.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Goldrich Mining Company expects or anticipates will or may occur in the future, including such things as the Company’s ability to sell forward gold sale contracts, the anticipated use of proceeds from the sale of such contracts, anticipated commercial production at the Company’s Chandalar gold project and other such matters are forward-looking statements.  Often, but not always, forward-looking statements (1) can be identified by the use of words such as “continue”, ‘‘efforts’’,  “point up”, ‘‘potential’’, ‘‘thought’’, and ‘‘look forward’’, or variations (including negative variations of such words and phrases); or (2) state that certain actions, events or results ‘‘will’’ be taken, occur or be achieved.  Forward-looking statements involve known and unknown risks and uncertainties, which may cause Goldrich Mining Company’s actual results in future periods to differ materially from forecasted results.  These risks and uncertainties include, among other things: the Company’s ability to sell forward gold sale contracts in the current economic environment, volatility of natural resource prices, including gold prices; product demand; market competition; the Company’s ability to continue with corporate spending priorities; the Company’s ability to secure additional financing; the existence and extent of gold deposits at the Chandalar property; the Company’s ability to start and maintain commercial production at the Company’s Chandalar property; and other risks inherent in the Company’s operations discussed in the Company’s latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission.    The Company makes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws or regulatory policies. Exploration and development at the Chandalar property have not advanced to the stage where the Company can report reserves compliant with U.S. Securities and Exchange Commission’s Industry Guide 7.

Synopsis

Controlling interest in hard rock-placer gold district

 

Well-defined placer deposit with positive economic assessment:

  ~135,000 oz contained Au; additional targets

NPV@5%, after tax of +$92 million*

+$50 million of tax loss carry forwards

 

History of placer and lode production:

 ~10,000 ounces hard rock;  +100,000 oz placer

 

Drill-ready hard rock Au targets:

possible source of placers

deposit style: potential +5 million contained ounces

 

* A detailed financial model with assumptions and scenario analysis functionality is available upon request. Target returns are presented solely for the purpose of providing insight into the company’s objectives, detailing anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of performance. Target returns are not a predictor, projection or guarantee of future performance. There can be no assurance that these targets will be met. There is no guarantee as to the company’s future performance or the adequacy of the methodology used for estimating future returns. Target returns should not be used as a primary basis for an investor’s decision to invest. Private securities are speculative, illiquid, and carry a high degree of risk – including the loss of the entire investment.

Highlights: Placer and Hard Rock Au 

  • Secure Jurisdiction: Alaska – Ranked among the top 11 (next to Ontario) in the Fraser Institute Investment Attractiveness Index (2023)

 

  • Control of Entire Gold Mining District 36 sq. mi. (93 sq km) with Extensive Previous Placer and Hard-rock (Lode) Mining Activity

 

  • Placer Resource:
    • 119,000 ounces; Measured + Indicated
    • 16,000 ounces Inferred; Additional Targets Identified

 

  • 2023 Independent Assessment projects After-Tax NPV@5% of $92 million at Au price of $2,000/ounce*

 

  • Hardrock Au Opportunities: Exploration has identified a number of targets for drilling, believed to be sources of the placer gold

 

  • Infrastructure in Place: Access road to public highway; 5,000 foot air strip; +25 person permanent camp on site; equipment and support facilities in place

* A detailed financial model with assumptions and scenario analysis functionality is available upon request. Target returns are presented solely for the purpose of providing insight into the company’s objectives, detailing anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of performance. Target returns are not a predictor, projection or guarantee of future performance. There can be no assurance that these targets will be met. There is no guarantee as to the company’s future performance or the adequacy of the methodology used for estimating future returns. Target returns should not be used as a primary basis for an investor’s decision to invest. Private securities are speculative, illiquid, and carry a high degree of risk – including the loss of the entire investment.

The Placer Deposit is Located Over the Hard

 

Rock (Lode) Target

Chandalar Placer Mine

  • Largest placer mine in North America in 2017 to 2018
  • Over US$55 million in gross revenue since 2009
  • Open for expansion: other placers recognized
  • Bulk mineable economies of scale
  • Resource supported by drilling

Initial Assessment

“Initial Assessment” Report

2021, Revised 2023

 

Resource:

Measured + Indicated: 119,000 oz

Inferred: 16,000 oz

 

After-tax NPV@5% ($2,000/oz Au):

$92 million*

 

Produced by

Global Resource Engineering

Golden, Colorado

* A detailed financial model with assumptions and scenario analysis functionality is available upon request. Target returns are presented solely for the purpose of providing insight into the company’s objectives, detailing anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of performance. Target returns are not a predictor, projection or guarantee of future performance. There can be no assurance that these targets will be met. There is no guarantee as to the company’s future performance or the adequacy of the methodology used for estimating future returns. Target returns should not be used as a primary basis for an investor’s decision to invest. Private securities are speculative, illiquid, and carry a high degree of risk – including the loss of the entire investment.

Management

Stephen Vincent –  Chief Executive Officer and Director

  • Over 30 years of experience as a finance specialist, having held various positions at companies including Moore Juran and Co., Miller and Schroeder Financial, Allison Williams Company, Piper Jaffray, and Northland Securities Inc. Roles have spanned metals distribution, debt instrument structuring, and private equity financing. Recently, capital has been raised for companies developing the copper-nickel mining district of northeastern Minnesota, with strategic equity investments completed for Duluth Metals, Franconia Minerals, and Encampment Minerals. Additionally, a private placement financing for Goldrich was completed in 2010. The CEO holds a Bachelor’s degree from Boston College.

William Orchow – Chairman of the Board

  • Former Director, President, and CEO of Revett Minerals, listed on the Toronto Stock Exchange. From 1994 to 2002, held the positions of President and CEO of Kennecott Minerals Company, and previously, President and CEO of Kennecott Energy Company, the third largest producer of domestic coal in the U.S. Also served as Vice President of Kennecott Utah Copper and held senior management and director positions with Kennecott Holdings Corporation. Additionally, has been a director and member of the Executive Committee of The Gold Institute, a director of the National Mining Association, and a director of the National Coal Association.

David Atkinson –  Director

  • Co-founder and portfolio manager for Forza Partners, a hedge fund established in 1999 and focused on the precious metals sector since 2002. Previously managed a hedged growth portfolio for Carlson Capital, LP, and later co-founded and managed Tsunami Partners, LP, both based in Fort Worth, Texas. An affiliate of the Market Technicians Association (MTA) since March 1994 and accredited as a Chartered Market Technician (CMT) in July 2001. Holds a B.A. in Economics from the University of Texas at Austin.

Nicholas Gallagher – Director

  • Director of NGB Capital Limited that oversees a private equity investment firm managing personal and syndicated investments throughout Eastern Europe and the United Kingdom. Education began at Rugby School in England, followed by a Bachelor of Law degree from the University of Newcastle, completion of the Legal Practice Course at the College of Law in London, and qualification as a solicitor at Memery Crystal in London. In 2000, co-founded Powerscourt Capital Partners Limited, a niche investment management firm serving high-net-worth individuals in European public and private equity markets, regulated by the Irish Financial Services Regulatory Authority. After Powerscourt’s sale in 2004, NGB Capital Limited was established and continues to be managed by this individual.

Harold Noyes –  Strategic Consultant

  • Management professional with a track record of generating value in mineral properties, assessing resources, and developing business plans. Experienced globally in raising funding and managing business and technical teams. Major accomplishments include managing and influencing teams that raised substantial sums for early and advanced stage exploration, assembled a mineral property portfolio with an estimated NPV of over $1 billion, and through global marketing brought substantial exploration investment to Alaska. Worked with majors (Exxon, Minatome, Westinghouse, Anaconda, Conoco) and Alaska’s largest Native Corporation (Doyon, Limited). MBA from the University of Chicago, a Ph.D. in Geology and Geochemistry from MIT, a B.A. in Geology from the University of Minnesota, Duluth, and completed the Oxford-Chicago Valuation Program at Oxford University.

 

Specific Risks

 

  • Intense Competition: Strong competition from better-resourced and experienced mining companies may hinder Goldrich Mining’s ability to acquire or retain desirable properties

 

  • Limited Financial Resources: Financial constraints compared to larger competitors could impact the company’s ability to fund exploration and development

 

  • Regulatory Risks: Complex regulatory requirements in Alaska may affect project timelines and costs

 

  • Technology Risks: Reliance on advanced technology and equipment poses risks if there are delays or failures

 

  • Geological Risks: Mining inherently comes with the risk of variable gold yields and unexpected geological challenges that could affect production volumes and financial projections

 

  • Economic Volatility: Fluctuations in gold prices due to economic downturns or shifts in market demand can significantly impact revenue. The reliance on global economic stability makes the market particularly sensitive to economic cycles

 

  • Operational Challenges: The remote location and harsh conditions of Alaska pose logistical and operational challenges, potentially impacting supply chain efficiency and increasing costs

 

  • Private securities are speculative, illiquid, and carry a high degree of risk – including the loss of the entire investment
Learn More About Goldrich Mining

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Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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