"Trigon is staying true to its identity as an explorer, as opposed to a mid-tier producer. Therefore, even though we will be producing, the cash flow from our production will be a means to enhance our exploration.Trigon is staying true to its identity as an explorer, as opposed to a mid-tier producer. Therefore, even though we will be producing, the cash flow from our production will be a means to enhance our exploration."

Jed Richardson


June 15, 2021

Can you give an overview regarding Kombat’s production plans over the next year?

Trigon is in the midst of construction and we are planning to produce the first concentrates before the end of 2021, with forecasted open-pit production of 4,000 mt of copper per annum. We have higher-grade resources underground, but the operation is starting as an open-pit. We have been working with Xinhai for two years, and they will continue as an equipment supplier furnishing Kombat with flotation cells and filter presses.

The cash flow generated will be used to finance drilling campaigns at our Moroccan project and for the resource at Kombat – which we increased seven-fold last year with the acquisition of the Copper King Extension.

How does the Copper King land acquisition add value to the project?

Our resource at Kombat is within 4.2 km strike-length. This acquisition gives Trigon an additional 30 km of prospective land on structure strike-length in the Otavi Valley, adding approximately 5,600 hectares of exploration ground where we counted 14 different copper showings. Therefore, our existing resources of 750,000 mt of copper could be a small fraction of the total copper in the asset.

Why is Namibia an attractive mining investment destination, and how does it compare to Morocco?

Namibia is the ideal mining investment destination due to its solid infrastructure, skilled workforce and political stability. It is a mature mining jurisdiction regarding permitting and environmental regulation where there is a transparent process to get the permits renewed. Unlike some other African mining destinations, there are no hidden mining super taxes or substantial financial burdens that risk the project’s profitability. Trigon is in the process of recruiting professionals for the project, and we are astounded by the quality of applicants available in-country.

On the other hand, Morocco is somewhat less experienced in modern mining methods and is better described as a more untouched mining destination. Nonetheless, it is home to a range of metals and minerals and exceptional geology. Moreover, it is an emerging mining country where we are excited to be as there are no royalties and we own 100% of the project.

How is Trigon creating value for investors with the Silver Hill project?

The project was acquired in September of 2020, and it is a 16 km2 property in the Anti-Atlas region of Morocco. The Atlas and Anti-Atlas Mountains have similar characteristics to the Atacama Desert, so Morocco will definitely be in the mining spotlight globally in the future. Our focus at the moment is on drilling and conducting geophysical and geochemical work over the next few months. We see the potential for Silver Hill to become another premium asset for the company that will attract further exploration and development attention to the country.

Can you elaborate more on your balance sheet structure?

Trigon currently holds no debt and around CA$3 million in cash. We are working towards an offtake agreement, whereby we will take debt against future deliveries of copper, allowing us to finance going to production. We decided to finance the Kombat operation by relying on offtake agreements, as opposed to Chinese credit facilities. This was decided due to the scale of the operation since the Chinese credit facilities are more relevant to a larger project.

How is Trigon Metals perceived by investors?

Our work in Morocco has attracted more attention to the company due to the silver content of the project coupled with the copper. Trigon is well-positioned given the tightness in the copper market, and our shareholders are pleasantly surprised with our copper exposure and what this could mean for our cash flow in the coming years.

Trigon is staying true to its identity as an explorer in the market, as opposed to a mid-tier producer. Therefore, even though we will be producing, the cash flow from our production will be a means to enhance our exploration, which remains a priority, and we will continue to create value through newly discovered deposits in Namibia and Morocco.

Do you have a final message to our international readership?

Trigon is a unique opportunity given our presence in exceptional mining jurisdictions geologically and politically. As we are starting production with a strong copper price in our favour, it is a great time to become a shareholder. Our exploration heritage will continue to define our business model and our shareholders will benefit the most.


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