Euro Sun Mining proposition
A significant value opportunity
Euro Sun Mining is a publicly listed development-stage mining company focused unlocking value through the responsible development of the Rovina Valley Project, one of Europe’s largest gold copper projects.
The Rovina gold deposit located in west-central Romania, is the second largest in Europe and holds about 400 million tonnes of confirmed resources containing 7.0 million ounces of gold and 1.4 billion pounds of copper.
Strategic critical metal asset within the European Union containing 7 million ounces of gold and 1.4 billion lbs of Copper Measured and Indicated
Rovina Valley will be a sustainable and scalable operation for ~17 years with strong cash flows
Average annual production of 106koz Au & 9Kt Cu at an all-in sustaining cost of US$813/oz AuEq
Low impact, sustainable gold mining with zero cyanide processing, dry-stack tailings and concurrent reclamation
Significant local growth opportunity, both within the RVP complex and across Romania
Strong social license to operate with full support of local communities and regional and national governments
Committed to operating in line with international ESG standards and focused on leaving a lasting positive legacy
RVP is strongly leveraged to metal prices with NPV of US$447m and IRR of 19.2% at a base case of $1550/oz Au & $3.30/lb Cu
Europe consumed 16% of the global copper market in 2018, but only accounts for ~5% of global production Copper demand is expected to reach 3.5Mt by 2030 driven by the growth of electric vehicles (30%), increasing urbanisation and industrialisation.
As South American production becomes more unstable and the western world looks to source responsible alternatives outside of China and the DRC, Euro Sun will provide a sustainable supply to feed the growing decarbonisation agenda.
Leading the sector towards a more sustainable and responsible path of providing critical metals to the EU, Euro Sun will produce a clean, high-grade copper concentrate with a strong gold credit at an AISC of US$1.70/ lb.
There is strong demand at European smelters for clean concentrate, with Spain, Germany, Serbia and Sweden all being strategic markets for the concentrate.
The European Union is taking steps to cut reliance on China for raw materials. The European Commission (EC) is aware that reliable and unhindered access to certain raw materials, including copper, is a growing concern within the European Union. To this end it is seeking to reduce reliance on countries like China and become more self-sufficient. To achieve this, the EC has set up the European Raw Materials Alliance (ERMA), which has prepared an investment pipeline that is expected to contribute to solving the dependency problem.
To reduce Europe’s reliance on China, the EU is fostering a number of partnerships with resource-rich countries to secure a diversified supply of sustainably mined critical raw materials away from a single source. These partnerships focus on the integration of raw material value chains between the EU and third countries, cooperation in the area of research and innovation and social and environmental criteria.
Romania is a long-standing mining jurisdiction that values economic development from mining activities and, as an EU member, provides significant transparency and stability as an operating company.
Long-standing mining jurisdiction which values economic development from mining activities
Excellent established infrastructure
Mining Code provides general principles of transparency and free competition
Strategically located amongst the key European-owned smelters
Rule of law as befitting a member of the European Union
Transparent financial system
Romania is home to first world infrastructure from roads to rail to power and The Rovina Valley property is accessible year-round