Investors

Online Q&A

Open communication about Trek's plans and objectives.
The Q&A below includes the most frequently asked questions about Trek's properties, business plan and capital structure. If you don't find what you're looking for, please submit a question and we'll get right back to you.  

If you've got a question, chances are someone else is wondering the same thing

So please don’t be shy about asking questions! You can fill out the Q&A form, email me directly at ir@trekmining.com or call me at +1 604-558-0560. I won't always have answers right away, but I'll find the information as quickly as I can.

I look forward to speaking with you soon!
Ms. Rhylin Bailie, VP Investor Relations

Submit a question

What are Trek’s primary goals for 2017?

Our focus in 2017 is advancing the Aurizona Project toward production and exploring the property to extend the mine life. The feasibility study results were released on July 31, 2017 and we expect to commence construction shortly, with the objective of pouring gold at Aurizona by the end of 2018.

Concurrent with construction, Trek is undertaking an extensive exploration program at Aurizona with the objective of expanding the resource and reserve base and extending the mine life. We believe the mine life can be extended with exploration success, and have started drilling to test high-priority targets that could extend mineralization up to 4.5 km to the west of the existing Piaba pit.

When will the Aurizona Project be in production?

Assuming construction commences in Q3-2017, Trek is targeting first gold pour at Aurizona by the end of 2018.

How do you intend to finance construction of Aurizona?

The estimate for the initial capex required to build Aurizona is $131 million. At the end of Q1-2017, Trek had approximately $80 million in cash. Trek hopes to fund the majority of the gap with a traditional debt facility. 

What is the focus of your Aurizona exploration program?

Drilling is underway at Aurizona. Trek is undertaking an extensive exploration program with the objective of expanding the resource and reserve base and extending the mine life. We believe the mine life can be extended with exploration success, and are focusing on high-priority targets that could extend mineralization up to 4.5 km to the west of the existing Piaba pit. Results to date have confirmed that mineralization continues 350m along strike to the west of the existing Piaba pit, and also at depth below the westernmost reserve pit.

What does AngloGold Ashanti need to do to earn a 70% interest in the Aurizona greenfields properties? What would the JV look like from Trek Mining’s perspective?

AngloGold commenced exploration in August 2016 of the JV greenfields exploration properties to the southwest and southeast of the Aurizona Project. The JV area comprises 23 exploration licenses totalling approximately 191,400 hectares. As per the JV Agreement, AngloGold can earn a 70% interest in the greenfields properties by spending US$14.0 million on exploration expenditures over a four-year period, with a minimum US$2.0 million commitment in the first year.

We expect AngloGold will exceed its minimum spend in year one. AngloGold has undertaken extensive airborne surveys over the entire land package, including Trek’s brownfields properties and the Aurizona mine which, when combined with surface geochemistry, will define targets for an extensive drilling program in the JV greenfields by AngloGold, and also help to focus Trek’s drilling efforts in the brownfields properties.

Should AngloGold earn its 70% interest in the greenfields properties, Trek would fund future exploration and development activities on a pro-rata basis. Should AngloGold earn and decide to sell its interest in the joint venture, Trek can purchase AngloGold’s interest in any NI 43-101 compliant resources for US$10 per ounce. 

Does Trek Mining trade in the United States?

Trek Mining's common shares trade on the OTC Pink sheets as "LWLCF". Trek Mining's warrants trade on the OTC Grey Market as "LWLLF".

How were existing Luna Gold and JDL Gold shares and warrants affected by the March 2017 merger?

JDL Gold shares and warrants were automatically converted to Trek Mining shares and warrants on a 1:1 basis. 

Luna Gold shares were automatically converted to Trek Mining shares using the conversion ratio of 1:1.105. For every Luna Gold share held, the holder now has 1.105 Trek shares.

On October 1, 2016, Luna Gold underwent a 10:1 consolidation with the result that 10 warrants needed to be exercised to issue one share. Following the Trek Mining transaction and applying the conversion ratio, every 10 warrants are now exercisable into 1.105 Trek shares. The expiry dates and exercises prices remain unchanged.

The original warrant certificates remain valid for the life of the warrant and do not need to be replaced.

Why haven't I received my Trek Mining share certificates?

The share and warrant certificates associated with the March 2017 financing were mailed on April 7 to the address requested in the subscription agreement. 

If you requested physical certificates and have not yet received them, our Transfer Agent requires that you complete an affidavit before they can issue a new physical certificate. Please call Computershare at 1-800-564-6253 and they will assist you with this process.

If you previously held shares of Luna Gold and your shares were deposited in a trading account you do not need to take any action; the shares will have automatically converted to Trek Mining shares. If you are holding physical share certificates, the certificates will remain valid for a period of six years after the date of completion of the Arrangement, March 31, 2017, without converting them to Trek Mining certificates. The only case in which you would need to request a conversion is if you are the Registered Luna Gold shareholder holding the physical certificates and you want to get them re-issued as Trek Mining certificates. If you wish to do that, please call Computershare at 1-800-564-6253.

If you are a Luna Gold Beneficial Shareholder (“Beneficial” meaning your shares are held in the name of an intermediary or clearing agency), you should contact your intermediary for instructions and assistance in delivering your Luna Gold share certificates and receiving Trek Mining share certificates in exchange.

If you previously held shares of JDL Gold you are not required to take any action. If your shares were deposited in a trading account, they will have automatically converted to Trek Mining shares. If you are holding physical share certificates and would like them exchanged for Trek Mining certificates, please call Computershare at 1-800-564-6253. 

I have a DRS Statements for Trek Mining but need Physical Share Certificates.

Some brokers do not accept DRS Statements. If that is the case, Computershare can exchange your DRS Statements and issue Physical Certificates. Please email the Company at info@trekmining.com and we can provide assistance with making this request to Computershare. It will likely take 2-3 weeks for delivery of your new certificates. In your email, please confirm your registration details and delivery address.

My new Trek Mining shares were issued with the wrong registration name or address.

If you need a new DRS Statement or a new Physical Share Certificate, please contact Computershare to request a change in your registration information. You will be required to return the physical certificate to Computershare to issue a new certificate, if required. 

Once you have contacted Computershare, please ensure you send your existing share certificate via registered mail or courier. 

By phone toll free at: 

  • 1-800-564-6253

Computershare Investor Services Inc 
100 University Avenue 8th Floor,
North Tower Toronto, ON M5J 2Y1

If you have any additional questions please email us at info@trekmining.com or call +1-604-558-0560 and ask for Pamela Kinsman.  

My broker says my Trek Mining shares are restricted and I can't deposit them until the legend is removed.

In order to have the legend removed from your shares or warrants, you must submit certain medallion guaranteed paperwork to Computershare, our transfer agent, who will then review the paperwork and contact Trek Mining for final authorization. Your U.S. Broker should be familiar with this process and be able to complete the required documents.  All legend removal requests must be sent to Computershare directly, by courier or registered mail to:

Computershare Investor Services 
Attn: Securities Transfer
100 University Ave, 8th Floor
Toronto, ON  Canada  M5J 2Y1

If your broker needs to contact Computershare for more information, the broker toll-free line is 1-888-838-1405.     

Please note that there are no other restrictions on the shares or warrants and the legend removal is a straightforward process. If your broker is for some reason unable to assist you with legend removal, please email info@trekmining.com or call +1-604-558-0560 and ask for Kylie Dickson and we will help you through this process. 

More information on why the shares are restricted in the United States is available in the US Investors section of our website. 

How does toll milling work at your Koricancha Mill in Peru?

The Koricancha Mill, located in Arequipa, Peru, is an industrial gold processing plant with processing capacity of 350 tpd of ore. Koricancha purchases mineralized feed at a market discount from legally operating small-scale and artisanal miners throughout Peru and processes the material to produce gold and silver, which is then sold at spot prices. Koricancha tests the mineralized feed and builds relationships with the miners that provide a high-quality and stable source of feed. To date, Koricancha’s throughput grade has averaged more than 20 g/t gold.

The artisanal mining industry in Peru is estimated to produce more than one million ounces of gold per year. The Peru Government is regulating the artisanal mining industry to address environmental, social and fiscal concerns. To date more than 80,000 artisanal miners have registered as legally operating miners with the expectation that up to 150,000 miners will ultimately register, providing a growing source of mineralized feed for the Koricancha Mill. 

What are the terms of the Trek Mining warrants? How much money will they bring in when exercised?

Trek has warrants outstanding exercisable into a total of 114.6 million shares. Of those, 80.4 million are listed on the TSX Venture Exchange under the symbol “TREK.WT”. These listed warrants have an exercise price of C$3 with an expiry date of October 6, 2021, and would bring in C$241.4 million to Trek when exercised. The remaining 34.2 warrants have a weighted average exercise price of $1.45 with an average expiry date of July 1, 2020 and would bring in C$49.6 million when exercised.