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

When will Trek become Equinox Gold?

Completion of the proposed Equinox Gold merger is subject to the approval of NewCastle and Anfield shareholders. The shareholder meetings are scheduled for December 19. Assuming the merger is approved, the transaction is expected to close on December 22, and the merged companies would start trading as Equinox Gold using the new ticker TSX-V: EQX on December 27.

How can I buy Equinox Gold shares?

Equinox Gold Corp. will not exist until the proposed merger is approved by NewCastle and Anfield shareholders. The shareholder meetings are on December 19. Assuming a positive vote, the transaction is expected to close on December 22 and Equinox Gold will commence trading on December 27 under the new ticker symbol of TSX-V: EQX.

Until the transaction closes, all three companies continue to trade freely under their individual ticker symbols of TSX-V: TREK (Trek), TSX: NCA (NewCastle) and TSX-V: ANF (Anfield). Shares held in any of those companies, purchased right up until the transaction closes, will automatically convert into Equinox Gold shares upon closing. Trek shares will convert on a 1:1 ratio, NewCastle shares will convert on a 1:0.873 ratio and Anfield shares will convert on a 1:0.407 ratio.

What will happen to my shares and warrants following the Equinox Gold merger?

Trek Mining shares and warrants will be converted into Equinox Gold shares and warrants on a 1:1 ratio, with no change to the number of securities and no change to the warrant exercise price and date. If your shares and warrants are deposited in a trading account, the conversion will happen automatically. If your shares and warrants are NOT deposited in a trading account and you want updated Equinox Gold certificates or DRS Advice, then you will need to exchange your share and warrant certificates or DRS Advice with Computershare. There is no requirement to change your certificates or DRS Advice, however, as the securities are only subject to a name change and remain valid.

NewCastle shares and warrants will be converted into Equinox Gold shares and warrants on a 1:0.873 ratio. If you hold 1000 NewCastle shares today, you will hold 873 Equinox Gold shares after the merger. The shares issuable upon exercise of warrants will also be converted at the exchange ratio, so 1000 NewCastle warrants will become exercisable for 873 Equinox Gold common shares, and the exercise price will likewise be converted so that the current exercise price is divided by the 0.873 ratio to get the new exercise price (warrants with a $0.64 exercise price will now have a $0.73 exercise price, etc.), but there is no change to the expiry date.

Anfield shares will be converted into Equinox Gold shares on a 1:0.407 ratio. If you hold 1000 Anfield shares today, you will hold 407 Equinox Gold shares after the merger. 

Shares and warrants that are already held in an online trading account will convert automatically into Equinox Gold shares and warrants. It may take a few days or up to two weeks for the conversion to be reflected in your account, but it will happen automatically.

If you hold your NewCastle or Anfield shares as physical share certificates or DRS statements, those documents remain valid for a period of up-to six years and do not need to be replaced immediately. NewCastle warrants will be exercisable for Equinox shares until their date of expiry and will not need to be exchanged. Letters of Transmittal will be mailed out to NewCastle and Anfield shareholders to explain how to exchange your physical certificates or DRS Advice. These will also be available by contacting us after the close of the Transaction at info@trekmining.com

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?

Aurizona will be fully funded to achieve production when the Equinox Gold merger closes, using existing cash and the US$85 million debt facility from Sprott.

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 remain unchanged.

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

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 Pamela Kinsman 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.