Coronet Metals Inc. (CRF:CA)

Coronet Metals brings together a highly experienced management team and a well-connected Board with a proven history of developing, financing, and operating mining projects in Peru and Latin America. With a focused strategy towards mine development in the short term and an exploration strategy to discover additional mineral resources, Coronet is strongly positioned to generate significant value for its shareholders.



On June 1, 2011 the Company completed the acquisition of a 100% interest in Coronet Metals Peru S.A.C, the owner of the Yanamina Gold Project mining concessions located in Peru. The Yanamina Gold Project is situated 40km north of Barrick Gold’s Pierina (7.5 million oz Au) and 120 km south of Barrick Gold’s Alto Chicama / Laguna Norte (9.1 million oz Au) mines. The Yanamina Gold Project comprises of 6 concessions with 224 hectares at an elevation of 3,500 to 3,700 meters.



In conjunction with the acquisition of the Yanamina Gold Project, the Company closed on a non-brokered private placement of 35,572,010 units amounting to $10,671,603.
Immediate Focus

1. Advance the Yanamina gold project through to production.

2. Early cash flow generation by acquiring small producing mines in the short-term to drive the company’s aggressive acquisition program, leveraging existing relationships and expertise within mining-friendly Latin American jurisdictions as part of its long term plan to evolve into mid-tier gold producer.

Peru Investment Climate

• World’s sixth largest producer of gold
• World’s largest producer of silver
• World’s second largest producer of copper and zinc
• World’s fourth largest producer of lead
• S&P recently upgraded Peru’s currency rating to investment grade (BBB)
• From 2009-2010, mining investments in Peru grew 182% to $2.8B
• In 2010, 7% of worldwide exploration investment was destined to Peru

Yanamina Advance Stage Gold Project

• Located in the Department of Ancash, approximately 482km by paved and all weather road north of Lima.
• Situated 40km north of Barrick Gold’s Pierina (7.5 million oz Au) and 120 km south of Barrick Gold’s Alto Chicama / Laguna Norte (9.1 million oz Au) mines.
• The Yanamina Gold Project comprises of 6 concessions with 224 hectares at an elevation of 3,500 to 3,700 meters.
• Excellent infrastructure is in place with nearby roads, water, electricity and a local labour pool.
• Daily airline connections from Lima to the Department capital of Huarez airport, 61 km by road south of the Project.
• Project envisioned to be an open pit, heap leach gold and silver recovery operation.

In the vicinity of the project there has been limited regional exploration and in the view of Coronet this presents an excellent opportunity for a substantial increase in resources through the discovery of both primary and structural repetitions to the existing mineralisation.
Click here for more information