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All posts by garry.wildman
Algodon Resources LLC
We are pleased to advise that Algodon Resources Group has signed an LOI for $36.5m of convertible debt to develop its near-term iron ore production mines in Mexico, initial production rate will be 1.9 Mtpa ramping to 4.8 Mtpa in yr 3. The board of Algodon Resources are delighted by these developments and look forward to developing its portfolio of projects commencing with Bonet mine/ wall of iron concessions with an Inferred Mineral Resource of 250mt+ Grading 62% – 67% Fe with low Si and low Ph. ARL also has a number of satellite mining concessions with 20mt of high-grade hema/magnetite ore.
The c1 cash operating costs are $44/ton which provides for a healthy cash margin to repay the principal loan within 3/5 years of operation. ARL wishes to thank Universal Mining Group Ltd/UMG Funding for its efforts in securing this funding and providing the proforma feasibility study and economic modeling to support such an investment. The drawdown of funds is expected by April 2021 and planned first ore 6 months later out of Caopas Port Sea of Cortez Mexico. The next best address for Iron Ore. Like Comment Share
Positive Year End Results & Insights from Chairman
Universal Mining Group recently completed its year end accounts for 2019. Last year saw growth in revenue in excess of 50%, mainly due to a number of mandates that were successfully managed and delivered to the satisfaction of our clients. Numerous mandates have been signed for Gold, Zinc, Nickel and Copper Projects on a global basis.
Some of these projects are in the exploration phase and some are in near term production phase. UMG continues to attract high quality, high grade and low impurity projects, a vital key to developing any project. Success factors are due to many variables, however projects with strong management that has demonstrated success in developing similar projects prevail, along with JORC and 43-101 Indicated Resources. Economic access to infrastructure and natural resources are also key to a successful outcome.
Universal Mining Group now has a large international network of Investors offering many financial instruments – Convertible Note / Debt / Private Equity and active participation in finding cash boxes and shell companies for private companies. We strive to deliver a bespoke service.
UMG also looks for exceptional high purity projects. We set up an SPV for this activity called Nautilus Metals Ltd to actively seek high grade projects within excess of 80% IRR. Projects are secured via hybrid earn-in agreement.
In 2019 we increased our Associate Team in Australia. We now have highly experienced natural resources Associates in Perth and Melbourne. In London we expanded our advisory board capabilities to cover Geology, Metallurgy, Mineral Economics, Project Delivery and Marketing.
We recently invested heavily in our data platform to manage deal flow both from the buy and sell side. We take most projects to a successful outcome within 3 – 6 months. Not all projects get funded, however. This is usually down to the various positions when negotiating final term sheets irrespective of which side dictates the outcome.
I recently have formed the view that funding and developing a project to success to first shipment requires many skill sets so I have taken up recently up some Non-Executive Board Appointments for a Gold/Palladium project, an Iron Ore project and a Silica Project to assist in their development.
I remain committed to the growth and development of UMG and its companies. 2020 will see further development in smart data management and research. We now have a dedicated Research Manager who is driving this project with a clear mandate to increase awareness of our services.
Chairman and Founder Garry Wildman
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