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Mogul Ventures Corp. Q1, 2013
2
THE FOLLOWING INFORMATION may contain forward–looking statements. Forward
looking statements address future events and conditions and therefore involve
inherent risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statement. Forward-looking information is subject to
known and unknown risks, uncertainties and other factors that may cause Mogul
Venture Corp’s actual results, level of activity, performance or achievements to be
materially from those expressed or implied by such forward-looking information.
Such factors include, but are not limited to: uncertainties related to the historical
resource estimates, the work expenditure commitments; the ability to raise
sufficient capital to fund future exploration or development programs; changes in
economic condition or financial markets, regulatory, political and competitive
developments; technological or operational difficulties or an inability to obtain
permits required in connection with maintaining, or advancing projects; and labour
relation matters *All historical resource estimates quoted herein date from the 1960s and 1970s and are based on prior
data and reports obtained and prepared by previous operators and information provided by the State, using
a Russian classification system not compatible with 43-101. Insufficient data exists to compare Russian
categories to current C.I.M. categories. A qualified person has not completed sufficient work to verify the
classification of the historic mineral resources and as such they should not be considered as current
resources and they should not be relied upon. Mogul Ventures believes these historical results provide an
indication of the potential of the property and are relevant to ongoing exploration. It should also be noted
that mineral resources which are not mineral reserves do not have demonstrated economic viability as
defined by NI 43-101 guidelines.
www.mogulvc.com
3
COMPANY OVERVIEW
• The Tin+polymetallic metals project has a historic
resource of 39,000 t of contained tin and a
significant upside potential. The deposit also
appears amenable to open pit mining
• The company leverages world-class management,
technical expertise and in-depth local knowledge
to acquire, explore and develop mineral projects in
Mongolia
www.mogulvc.com
*Ovdog Hudag Coal Deposit, Mogul Ventures Corp. – NI 43-101 Report by SRK Consulting (China) Ltd., June 30, 2012
• Mogul Ventures Corp. focuses on
exploration, development and
production of coal as well as base and
precious metals in Mongolia
• Two flagship projects: Ovdog
Hudag-Ikh Ulaan Nuur coal
project & Oortsog Ovoo
polymetallic project
• NI 43-101 compliant Inferred
Resources of 89.6 million tons of
coal established at Ovdog Hudag
Thermal Coal Deposit based on 14-drill
hole, 2,369 meters drilling program*
Shares Outstanding 112,499,907
Warrants Outstanding 554,195
Fully Diluted 113,054,102
Capital Structure (01.01.2013)
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MOGUL VENTURES TEAM
STEVEN KHAN, MBA, CFA Executive Chairman & Director
• Previous 20 years of experience in all aspects of
the investment industry including executive
positions with regional and national full-service
Canadian investment brokerage houses
• Focused on strategic corporate and business
development as well as resource and venture
capital financing during the last decade
• Holds Director and Executive Officer roles in a
number of public and private resource
companies
• Successfully completed major corporate
development initiatives both domestically and
internationally including in Japan, Korea and
China
www.mogulvc.com
JAMUL JADAMBA , MBA CEO, President & Director
• Formerly a natural resource and mining-focused
investment banker with an extensive capital
raising background, servicing worldwide
companies, especially in Mongolia
• Former Director and co-founder of the Metals
& Mining Group at Rodman & Renshaw LLC.
• Native Mongolian with well-established
relationships with influential business and
government leaders in Mongolia
• Extensively writes and speaks on topics of
Mongolian economy, development and politics
for organizations such as Oxford Analytica,
Institutional Investor and Business New Europe
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MOGUL VENTURES TEAM
www.mogulvc.com
MAZEN HADDAD Director
• A seasoned investor and financial professional,
Mazen is currently a Director of Argex
Titanium Inc, a publicly listed exploration
company that is entering into the
development stage for its flagship project.
• Formerly President of Township Capital Inc.
from 2005 until 2010.
• Previous to that, he was Chairman of SGI
Properties Canada Fund L.P., a private real
estate investment trust (REIT) focused on
residential real estate in Montréal as well as
Vice-President of SGI Capital Corp., a private
investment company.
• Mazen received a B.A. degree in economics
from Emory University of Atlanta, Georgia.
MICHAEL HAWKINS, MAusIMM Director
• Over 30 years of exploration experience in
Mongolia, PNG, Indonesia, Australia, North
America and Latin America.
• Formerly CEO and President of East Asia
Minerals Corporation. During his tenure at East
Asia, Michael and his team discovered multi-
million ounce gold deposits in Indonesia as well
as closed an unprecedented Mongolian uranium
transaction
• Previous to that, he was the Mongolia Manager
for AngloGold Ashanti.
• Michael has a proven track record for discovery
of high-grade deposits and has been directly
involved in the greenfield exploration, discovery
and development (pre-feasibility and feasibility
studies) of several million ounces of gold in the
Asia-Pacific region.
6
MOGUL VENTURES TEAM
DAVID A. TERRY, Ph.D., P.Geo. Senior Technical Advisor
• Over 20 years of business experience in the natural resource sector, focused primarily on exploration of
precious and base metal deposits in North and South America.
• Director of and advisor to several publicly-listed mineral exploration companies
• Specializes in public company management, strategic planning, finance, advanced project evaluation,
identification and acquisition of opportunities, design and implementation of effective and cost-efficient
exploration programs
• Held positions with a number of senior mining companies including Boliden Limited, Westmin Resources
Limited, Hemlo Gold Mines Inc., Cominco Limited and Gold Fields Mining Corporation
www.mogulvc.com
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MONGOLIA OVERVIEW
• Recognized as the home of some of the world’s largest natural resource deposits
including coal, gold and copper
• Strategic location
• Next door to the biggest consumer of commodities in the world – China
• Mining is the most important sector:
• “Contributes 30% of GDP and 70% of exports”(1)
• Favorable political environment:
• Mongolian Government focused on the long-term development of resource-related
sectors and favorable policies towards business and foreign investments
• Stable business-friendly democracy:
• 20-year, uninterrupted history of peaceful and democratic government
• Homogenous country with minimal risk of ethnic or religious conflict
www.mogulvc.com
Source: (1) the Ministry of Mineral Resources & Energy of Mongolia
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MONGOLIA: MINING INDUSTRY OVERVIEW
• Mining industry size: 30% of GDP(2)
• Market Cap of publicly traded
companies with assets in Mongolia,
including non-Mongolian junior mining
companies: $30B+(3)
• Investment Capacity of Mongolia’s
mining industry (5 years): $25 - $30B(4)
• 6,000 known mineral occurrences(5)
• 80+mineral deposits found recognized
as economic by the Mineral Resources
Authority of Mongolia(6)
• 2012 coal production: 24 Mt(7)
Mongolia is poised to become one of the fastest growing
economies in the world in the next two decades
Sources:
(2) the Ministry of Mineral Resources & Energy of Mongolia
(3) Bloomberg
(4) How much capex the country can absorb given known development projects. Statement made by the former Prime Minister Bayar
(5), (6) The World Bank report on “Mongolian Mining Sector: Managing the Future”
(7) National Statistics Bureau
www.mogulvc.com
9
TIN MARKET OVERVIEW
• As growth in electronics manufacturing shifted from the West to the East, Asia has emerged
as the leading consumer of Tin
• Not surprisingly, China is both its biggest producer and consumer
According to LME, Tin (Sn) is the only industrial metal with ongoing
physical supply deficits for 2013
www.mogulvc.com
10
TIN USAGE
• Over 50% of Tin is used as a solder.
Emergence of lead-free solders has
boosted demand
• Tinplate’s share (tin coated steel, such as
in cans and containers) has come down
significantly
• There is an increasing trend of tin usage
for various chemical and industrial
applications such as:
• Stabilizer for PVC plastics
• Lithium-ion batteries
• Cutting-edge technologies such as
carbon nanotubes and graphene
• Solar cells, acid batteries and electric
car batteries
• Various chemical catalysts
www.mogulvc.com
Tin Usage
Source: ITRI
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TIN PRODUCTION
• Most of Tin production is from underground mines. Estimated cash costs for a typical
underground mine with 1% grade is ~$20,000/t1
• 10% of world mine production comes from the San Rafael underground mine in Peru
(owned by Minsur) which is slated to run out of ore within 4 years2. Small and artisanal
mines, which account for ~100ktpa of global mine supply, are being closed as well
• Open pit production is in a small minority, but has advantage as estimated cash costs at 1%
grade are under $10,000/t1
• 7 out of 10 top producers have experienced production volume declines in 20123
www.mogulvc.com
Ranking Company Production, tonnes % change
1 Yunnan Tin (China) 69,760 24.20%
2 Malaysia Smelting Corporation 37,792 -6.10%
3 PT Timah (Indonesia) 29,600 -22.40%
4 Minsur (Peru) 25,399 -15.90%
5 Thaisarco (Thailand) 22,847 -4.30%
6 Yunnan Chengfeng (China) 16,600 7.60%
7 Guangxi China Tin (China) 14,034 -9.60%
8 Metallo Chimique (Belgium) 11,350 13.40%
9 EM Vinto (Bolivia) 10,800 -1.50%
10 Gejiu Zi-Li (China) 7,000 -18.60%
Top Ten Producers in 2012
Source: (1) Greenfields Research (2) Minsur (3) ITRI
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TIN SECONDARY SUPPLY
• Including alloys, more than 30% of
world tin consumption is from
recycled tin
• Not surprisingly, China again is the
biggest recycler
• Tin recycling is likely peaking or has
peaked
www.mogulvc.com
Secondary Recycled Tin Production
Source: ITRI
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TIN MARKET
• In early 2011, Tin prices hit a high of over $32,000/t
• For new mine supplies to materialize, prices are likely to hold or stay above current levels of
about $24,000/t
www.mogulvc.com
Actual and Inflation-Adjusted Prices Historic and Forecasted Demand
Source: ITRI
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TIN EXPLORATION COMPANIES
• Mogul’s Oortsog Ovoo is one of the top tin exploration projects in the world
• Oortsog Ovoo has the best grade among known potential open pit mines, further improved
by likely credits for accompanying metals
www.mogulvc.com
Resource
Ranking Company Project Location Main Mineral Resources Grade
Mkt Cap
(09/27/12)
Proposed Mining
Method
Economic
Interest
1 Kasbah Resources Kasbah Morocco Tin 135,000 t1 0.90% $69M Underground 100%
Gillian 23,409 0.78%
Pinnacles - Wafer 5,540 0.41%
Pinncales - Hartog 1,085 0.51%
Deadmans Gully 1,967 0.49%
Windermere 11,566 0.55%
Jeannie River 13,440 0.60%
TOTAL 2 57,007 0.64%
3 Stellar Resources Heemskirk Australia Tin 48,000 t3 1.10% $14M Underground 100%
4 Mogul Ventures Oortsog Ovoo Mongolia Tin 39,200 t4 0.65%5 N/A Open Pit 100%
5 Venture Minerals Mt. Lindsay Australia Tin/Tungsten 38,000 t6 0.30%6 $55M Open Pit 100%
Oropesa Spain Tin 16,000 t7 0.25% Open Pit 96%
Santa Maria Span Tin N/A N/A N/A 85%
1 JORC compliant resources: Inferred 93,000 t, Indicated 42,000 t
2 JORC compliant resource, included Indicated and Inferred
3 JORC compliant resource, included Indicated and Inferred
4 Historic resource based on 41 drill holes and 207 trenches. Does not include credits for other metals present such as Cu, Pb, Zn, Ag, Au, Bi, Ca and Fe
5 Grade doesn't account for other metals credit
6 JORC compliant resource, only credits Sn, Sn-equivalent resource would be 103,000 at average grade of 0.70%
7 Historic resource, NI 43-101 Reprot on Oropesa
Open Pit 100%2
6 $15MEurotin
Consolidated Tin Mines Australia Tin $16M
Source: Company websites
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OORTSOG OVOO DEPOSIT
• Cassiterite (Sn) skarn system with Zn-Pb-Cu-
Fe-W-Ag-In
• Twenty four ore bodies have been identified
and studied to varying extents
• Historic exploration focused on Sn provided
following results:
• Historic Resources totalling 39,237 t Sn
Metal reported*, making Oortsog Ovoo
an overall top 20 deposit in the
world1
• ~6.7 Mt @ an average grade of 0.65% Sn,
with no credits for other metals present
• The deposit was proposed to be mined via
5 open pits to a maximum depth of 150m,
with average stripping ratio of 4:1
• Low Sulphide Sn-dominant (0.25 to 1.13%
Sn) and High Sulphide Zn-Pb-Cu-Fe-Ag-In
zones delineated
*Historical resources - see note on Page 2 of Presentation (1) Based on resource size ranking by ITRI
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OORTSOG OVOO DEPOSIT
• A significant historical body of exploration
work exists on Oortsog Ovoo
• 41 holes were drilled on the three zones
depicted
• A significant trenching program of 207
trenches was also conducted
• Rock chip samples taken by Mogul also had
high grades of copper ranging as high as
1.5%, 3% and over 6%
• A total of eight mineralized zones have
been identified, three of which have had a
significant amount of exploration work
• There is excellent potential for expanding
resources through exploring the zones
that have not been explored yet as well as
areas in between zones
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GOALS AND OBJECTIVES
• The project has a significant potential for resource
expansion as historic work was performed only on
outcrops and only shallow drilling and trenching was
performed.
• At a total strike length of 5km for visible mineralized
zones, the project has potential to increase its
resources several fold as compared to historic resource
estimates
• Exploration at the Oortsog Ovoo polymetallic project
will include:
• Ground and airborne geophysical surveys
• Surface sampling and mapping
• Confirmation drilling of historical drill holes
• Expansion and step out drilling
• Expand exploration with the aim of making Oortsog
Ovoo a 100,000 t+ tin deposit with additional credits
for other metals
• Move the project towards feasibility and development
Photo: Mogul staff and geologists at Oortsog Ovoo skarn, 2012
www.mogulvc.com
Contact Information +1 416.915.4202 | [email protected]
Suite 5700 – 100 Kings St. West
Toronto, Ontario
M5X 1C7, Canada