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East Asia Minerals Corporation
Location: Vancouver, BC
East Asia Minerals Corporation (TSX-V: EAS) is a Canadian publicly listed mineral resource exploration company focused on developing producing precious metals projects in Indonesia.
East Asia Minerals Highlights – production ready gold project
Sangihe with 266,000 oz Au (2017 NI 43-101) including 58,000 Indicated oz near surface oxides for near-term production cash flow. With the objective to bring this near surface Resource into production in 2019 with the upgrade of its license status expected within the next quarter.
Also conducting a infill drilling program of approximately 800,000 inferred oz Au between the two main ore bodies identified in the Sangihe (2010) NI 43-101, this program will bring those Au oz into measured and Indicated Reserve status and extend the mine life.
Miwah with 3,140,000 oz Au, open on along strike, across width and at depth. In Protected Forest Reserve that must be modified in order to move the project forward.
Company is within several months of upgrading its Sangihe CoW to Production status. Which will allow it construct the first phase of its Pilot Mining Program within 5 months of receiving the upgrade.
Quick Cashflow through Pilot Mining Project
Company plan’s to be in production on a Pilot Mining Project bases with a 25,000 ton Heap Leach Operation within 7 months of its license upgrade. From cashflow an additional 25,000ton Pad will be constructed after 6 months of production as well as a Merrill Crowe Processing Plant installed to increase the processing rate.
East Asia Minerals is led by experienced professionals with extensive local Gold mining experience and a broad range of skills in the mineral exploration and mining industry. The senior operations are on the ground management, who are either Indonesian resident or are in the country a large part of the year.
Sangihe with 266,000 oz Au resource including 58,000 indicated oz near surface oxides for near-term production cash flow. Once cash flow allows the company it will begin an infill drilling program to drill the Binebase/Bawone Corridor to increase its reserve to 500,000 oz. from current its 800,000 Inferred status as per the Sangihe (2010) NI 43-101. After which the remaining 95% of the concessions of 42,000 hectares will be developed as well.
Price of Gold
With the price of Gold passing US$1,300 oz. it is projected by Goldman Sachs to reach $1,425.00 an ounce by the end of 2019.
Low Cost of Production
The first production will be of near surface oxides in an open pit mine using Heap Leach Pads for extraction. With the projected cost of production should average $684.00 an ounce in the first years of production. Giving the project an almost 48% margin at today’s price of $1,325 oz Au.
Strong on the ground management team with local Indonesian Gold Heap Leach processing experience.
All regulatory milestones achieved, needing to pay only the mining tax to start its pre-construction program and begin the Mine construction.
Turn Key Project
Small area site ready for 25,000 ton Heap Leach Pad that can be constructed in 60 days. With cashflow possible seven months after receiving funding.
Rising Gold Market
With the rise of the price of Gold and with the Companies costs in Indonesian Rupiah. Will increase the Companies profit margin, making the repayment of any debt less of a burden on the Companies operations and allow for further investment in operations and exploration funded by its own cashflow.
Terry Filbert, CEO and Chairman
Terry has been closely involved in the mining and exploration industry since 2005, with significant on the ground experience in Indonesia. In addition to his extensive knowledge of East Asia’s main projects of Sangihe and Miwah, Terry brings his entrepreneurial skills from a series of successful business ventures that include technology, import export and human resources.
In 2010 to 2013 he served as Managing Director of Big Blue Resources Ltd. located in Hong Kong and Indonesia, which owns thermal coal mining concession licenses in East and Central Kalimantan and high grade Silica concessions in Central Kalimantan Indonesia.
This company was founded by Terry to consolidate under‑financed and under‑performing mines in Indonesia. From 2014-2016 he was the Managing Director of Asia of Borneo Resource Investments Limited. He was based in Manado, North Sulawesi where he was responsible for developing the companies Gold Mining Heap Leach operation in Ratatotok North Sulawesi.
In 2017 he agreed to come take over East Asia Minerals Management in order to bring its Indonesia projects into further exploration, development and production.
Garry Kielenstyn, Director
Garry holds the position of Indonesian Registered Mine Manager (Kepala Teknik Tambang). Currently he is the Indonesia General Manager and Director of PT Tambang Mas Sangihe. Previously he was the Indonesia Country Manager and President Director of PT Cokal, focusing on the preparation of a 260 mt coking coal project at Murung Raya, Central Kalimantan.
Responsible for engineering design and mine planning to Definitive Feasibility Study and IUP compliances including budgets, work programmes, technical and environmental. From May 2011 to April 2013, he was General Manager and President Director at PT Batutua Tembaga Raya and PT Kharisma Permai with a focus on the preparation of the 25,000 tpa copper cathode SX‑EW project at Wetar, East Indonesia. From 2008 to 2011, he was the Resident Mining Manager and Director at PT Indo Muro Kencana / Straits Resources during which period he was responsible for all mining activities and IMK underwent a significant recapitalization, including upgrading JORC Resource to 730,000 Au eq oz with a refocus to a single large pit operation and reducing haul distances.
Previous to 2008, he was Operations Manager at the Kingsgate / Akara Chatree Gold Mine, Thailand and responsible for the operation of the prime mining contractor. Prior to this he was Mine Development & Infrastructure Manager at a number of Coal Mining Concessions in Kalimantan responsible for the assessment and development of a number Coal Mining Concessions and the Director Production / Technical Services for PT Sumber Kurnia Buana, PT Antang Gunung Meratus and PT Baradinamika Mudasukses, where he was responsible for the provision of Technical Services and Production.
Other positions he has held include: Director Production / Technical Services and Operations Manager for Joyce Crane Hire Pty Ltd. in the North West / Pilbara region; Construction Manager for PT Yuga Eka Surya; Area Manager in Kalimantan and Irian Jaya; Project Manager, PT Petrosea Tbk; and Project Manager (Eastern Australia) for Clough / GHC Piling & Foundations.
Frank Rocca, currently working as Chief Geologist of PT Tambang Mas Sangihe
In this capacity he has primary responsibility for development of the East Asia Mineral’s Indonesian Exploration team and for leading the Company’s exploration and development programs for the Sangihe project in Indonesia in addition to EAS’s other assets.
Frank has more than 26 years of Senior Leadership experience in exploration and mine development geology. Most recently he is a Director and Senior Consultant with Dragon International Geological Services Pty Ltd., where he fulfilled roles including: Vice President Exploration for EAS, Project Manager, Chief Geologist and Mine Superintendent. Prior to that from 2004 – 2010, Frank was employed with Pangea Minerals Limited (a subsidiary of Barrick Gold Corporation) as Technical Services Manager, where he oversaw the mine design and development of the Buzwagi and Tulawaka Mines.
Within this six year period, he also held the position of Chief Geologist overseeing establishment of the Geology departments for both mines. He was also a key member of the management team which awarded mining, drilling and blasting contracts. Frank has also held several other senior management and leadership positions including at Gindalbie Gold NL, Barrick Gold Mines and Perilya Mines NL. Frank holds a Bachelor of Applied Science – Geology from Curtin University of Technology and is a member of the AusIMM and AIG.