Tag Archives: Ivanhoe Mines

Kaizen Discovery CEO Matthew Hornor: Opportunity in a Bear Market

Copper Investing News, Aug 4, 2015

Kaizen Discovery CEO Matthew Hornor on what the company has been up to in 2015, and why he sees opportunity in the current bear market.

The Investing News Network was able to speak with Matthew Hornor, CEO of Kaizen Discovery (TSXV:KZD), at the recent Sprott-Stansberry Vancouver Natural Resource Symposium.

As this 2014 piece from Global Mining Observer explains, Kaizen was born when private surveying specialist HPX TechCo, controlled by Robert Friedland, took on the TSX listing of Concordia Resource in 2013. Several members of the management team at Friedland’s Ivanhoe Mines (TSX:IVN), including Hornor and esteemed explorer Dr. David Broughton, stepped up to head Kaizen, and the company has been making big moves in the junior mining space ever since.

In recent months, Kaizen has been putting out drill results from its Aspen Grove project in British Columbia and advancing permitting at its Coppermine project in Nunavut. It has also announced a transaction to acquire the Pinaya copper-gold project in Peru.

Certainly, Kaizen has been keeping busy despite a tough market. And while the copper price hasn’t been favorable, Hornor sees opportunity in the current bear market. “As the base metal markets and the commodity markets continue to go the way they’re going, that only provides more opportunities for Kaizen to get involved and pick up interesting assets at lower costs,” he said. “We’re in this for the long term.”

Hornor also spoke about Kaizen’s strategic partnership with Japanese trading house ITOCHU, what investors can expect next from the company this year and what it takes for junior mining companies to achieve exploration success. Echoing what others in the space have said, Hornor chalked up the success of Ivanhoe and Kaizen to having the right people in place.

“Robert Friedland has had a lot of success in his life, but it’s not by dumb luck,” he said. “There’s been many opportunities and projects that have come across our tables — we’re looking at thousands and thousand of them — and really having the right team in place who knows what to look for, and what they’re looking at, is key.”

Watch the video above for more of what Hornor had to say. Interestingly, the CEO also discussed why he left his position as a senior associate at an international law firm in Japan to join Ivanhoe and Kaizen.

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Kaizen Discovery’s CEO Matthew Hornor discuss Kaizen’s Coppermine Project

We met Kaizen’s CEO Matthew Hornor in Hong Kong this week and the interview focused around Kaizen’s Coppermine Project in Nunavut, Canada.  The reason for that is that Kaizen’s “sister company”, Ivanhoe Mines, has what is soon to become a true world class copper mine in the DRC.

Kaizen happen to share the same VP Exploration, David Broughton. Mr. Broughton and his team recently won the 2015 PDAC Thayer Lindsley International Discovery Award for the Kamoa Project. The reason for Mr. Broughton to be working on Kaizen’s Coppermine Project is that he sees the same footprint there as he does on the Kamoa Project.

“Rock grab samples collected by Kaizen geologists during a due diligence field visit, grade up to 7.27% copper and 26.7 grams per tonne silver in laterally continuous, gently dipping, carbonaceous siltstones…”

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Please visit the Kaizen Discovery website for more information

Exploration Titans Brent Cook and David Broughton Talk Kaizen’s Discovery Trail (TSXV:KZD)

By Tommy Humphreys, CEO.ca, Mar 17, 2015

Billionaire mine developer Robert Friedland has said that real wealth in the mining sector is created by finding something.

Friedland would know this, having driven 5+ world-class mining discoveries in his career. He knows that to find a mine you have to spend a lot of money, and drill a lot of holes.

Another secret weapon of Friedland’s is people; he surrounds himself with impressive technical minds, and provides them with big budgets and plenty of autonomy to test their theories. Statistically speaking, explorationists who have already found mines are more likely to make future discoveries.

I first met Dave Broughton on an Ivanhoe Mines field trip to South Africa and D.R. Congo last year. Friedland stood beside Broughton at the site of Ivanhoe’s world-class Kamoa copper discovery. There, a Broughton led team had chased an exploration concept from stream and soil anomalies to drill targets and eventually, a world-class discovery. Kamoa was the first major copper discovery in the D.R.Congo in a hundred years.

At the 2015 PDAC conference in Toronto, Dr. Broughton and Mr. Friedland received the Thayer Lindsley International Discovery Award for their work finding Kamoa. This was the second time the Ivanhoe group had won the prestigious award at mining’s largest convention.

Just a few hours before Dr. Broughton received the award, he met up with Exploration Insights editor Brent Cook, CEO.ca cameraman Carter Smith and myself to talk a bit about his exploration methodology, as well as his plans for a next discovery.

David Broughton, Kaizen Discovery, Brent Cook, Exploration Insights, and Tommy Humphreys, CEO.ca discuss Kaizen’s Discovery Trail at the PDAC in Toronto, Mar 1, 2015:

Tommy Humphreys: I’m here with Dave Broughton who is the exploration boss at Kaizen Discovery as well as Ivanhoe Capital group, a very accomplished geologist, and my friend Brent Cook, editor of Exploration Insights. I wanted to introduce these guys because I think some of the work that Kaizen is doing is very fascinating and Brent hadn’t heard the story yet, and knows more than I do. To start off, what is the award that you’re receiving today and what brings you to PDAC?

Dave Broughton (DB): We are receiving, on behalf of a whole lot of people, the Thayer Lindsley Discovery Award, which is given every year by the PDAC for a significant international discovery. It’s the second time Ivanhoe group has won this. They won it for OT [Oyu Tolgoi] at the inaugural event when they first awarded it a number of years ago.

Brent Cook (BC): So now you’re up in the Yukon for something different?

DB: Kaizen, late last year, picked up a package of land and took over a small company with an adjoining package of land up in the Western part of Nunavut, and its another stratiform copper play like the one we found at Kamoa [Ivanhoe Mines’ DR Congo copper discovery]. There’s copper everywhere you land, so there are good signs when you just get on the ground and wander around. That’s been appreciated for a long time, it was discovered initially in the 60’s and some work was done then, but really, nothing’s happened for about 20 years. The last group of people to be in there in a significant way on the play we’re really excited about was Cominco and that was in the early 90s.

There really are two plays, there’s a volcanic hosted copper play, that has a lot of very high grade copper, well known, lode copper, I guess you’d call it, in volcanic rocks, and there’s a more, less appreciated play, which is what we’re really excited about, and it’s in the sedimentary rocks overlying it. The rocks are similar in age to those in the copperbelt which is intriguing, and there’s mineralization that’s outcropping and in most places it’s covered, certainly 95% cover. 150 kilometre strike of these sedimentary rocks with copper showing here and there but it really hasn’t been tested.

BC: How many holes have been put into this?

DB: Well, Cominco put about a half a dozen holes at the far eastern end of the area and the rest is basically untouched.

BC: What did they find?

DB: They hit mineralization. They didn’t hit an ore grade intersection over ore grade widths, but there are lots of holes at Kamoa or Kupferschiefer, or anywhere you want to go in these systems, you don’t always hit ore on your first hole. The usual things right: persistent and all that.

BC: What sort of width and thickness are we talking in this horizon from the drilling you’ve got so far?

DB: You’ve got mineralization over metres in lenses and so on. There is some government geophysical data that gives up some idea as to what the big structures might be that might help control mineralization. We have some old prospecting that we know about. It’s really going to be getting on the ground and walking those contacts and making up our own mind of where we can find mineralization. And then we’re looking at doing a series of widely spaced stratigraphic holes, just like you would in other districts. You’ve really got to step back. These things go for kilometres, Kamoa is 50 square kilometres in area, so you really have to look at it at a base of scale and then narrow in on what you find. We’re going to take a big-scaled approach to start with and test as much of the strike length as we can, I think.

BC: What’s the access like?

DB: The access is actually excellent. We’re just south of the old town of Coppermine.

BC: Ah, the old famous Coppermine?

DB: It’s a short helicopter ride from there to the project. There’s an airstrip, regular air service. There’s an old air strip actually on one of the properties we’re going to use for direct access with a fixed wing aircraft, so it doesn’t get much better in that sense.

BC: Conceptually, what do you need to see, what do you need to find there to take it to the Kamoa stage, or up to a stage where it’s a world class deposit or something that’s really profitable.

DB: Like anywhere, you want to drill a discovery hole that’s got an ore grade and width and then you want to step out from that and build tonnes. That’s what it’s all about.

BC: What grade do you need?

DB: Up there, good question. Kamoa’s average grade is close to 3%, there are other deposits around the world that have that. If you get 3% copper of sufficient width, you’re in business.

BC: So that’s how we can judge your program. Although admittedly the first round is basic geology which I think is really smart. Get a handle on what’s going on and then zero in. If we’re going to watch this play, it’s about, first off, we get the concept, it’s coming together or it’s not coming together, here’s our targets, next round or two rounds after that, we’re getting low cost mineable widths over 3+% copper, okay.

DB: That’s the objective but like anything, you find what you find, and you go with it. They are mining the Kupferschiefer at under 2%. It really depends on all sorts of other factors, I’m not going to be able to predict that.

BC: You’re not that good yet?

DB: Not that good yet, sorry.

BC: What sort of shape is the company in? How much cash do you have and what’s your market cap?

DB: We’re in good shape. We’ve got a unique strategic relationship with the Japanese trading houses, they fund a number of our exploration projects, and we’ve got a long history of relationships with them, going back to the Ivanhoe group as well. That’s kind of our key strategic difference that we’ve got. In addition, we’ve got a treasury and no debt so that helps too.

BC: They are funding by way of placements, or getting a piece of the project, or an offtake agreement, what’s their relationship?

DB: It varies project to project. We have projects in BC where they are funding the exploration directly. They are interested in the offtake in the long term for Japan; that’s really what’s driving them. And we’re interested in the metals that work for that reason.

BC: That was Kaizen. They are looking for stratiform copper in Nunavut. Actually pretty interesting concept. If they can pull together a large enough volume of rock at 3%, which is what they’re after, it sounds like the infrastructure is not too bad, that could be quite significant. They’ve got a good deal structured with a number of Japanese groups, so it’s worth watching for sure.

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