Mineral Ventures Invest s.r.o. (MVI)

is Czech natural resource mining company based in Armenia since 2018. Throughout its affiliate – ASSAT LLC – the company operates producing Karaberd mine in the region of Lori. MVI was established on April 18, 2018, to launch the Precious Metals Mining Project in Armenia – aimed at penetrating mainly copper, silver and gold deposits and launching first of a kind eco-processing plant based on bio-leaching technology.

Karaberd mine

Since 2020, MVI owns a mining license for 1 442 kg of gold in Armenia, Karaberd mine, through a local entity –Assat LLC. At the Karaberd mine, 46 kg of 999 bullion was mined and processed in 2021. The ore-warehouse has as of November 2023 40.000 tons of high-grade ore waiting for own processing – eco-leaching factory (CGM). Close to 200 kg of potential gold in the form of a gold-ore has been mined in 2023. According to international geological studies NI 43-101, the Karaberd mine has gold reserves totalling 7 775 kg. (250k Oz.)

Keshutsky mine

Since 2019, MVI owns also a mining license for Keshutsky mine through KA-Minerals LLC. According to international geological studies NI 43-101, it has gold reserves totalling 6 062 kg.

Eco- processing plant

In September 2019, MVI signed a contract with the China National Geological and Mining Corporation (CGM) in Beijing, to build an eco-processing plant (first of a kind in Euro-Asia, unique – no cyanide use technology) with a capacity of 100 thousand tons/year of ore processing (i.e. production of potentially up to 540 kg of gold per year), with the possibility of increasing the production capacity to 150 thousand tons/year. However, MVI and CGM could not begin the implementation until February 2023, due to the global pandemic situation. The construction is expected to start in spring of 2024, with completion in fall of 2024.

New gold deposit: SE – Vlad

In April 2023 MVI has signed and MOU, and in November 2023 Framework Agreement with FERO GROUP LLC (FG) – Armenian resource exploration company that owns South-Easter – SE Vlad deposit, in the Tukhmanuk ore field of the Aragatsotn region. FG holds already an exploration license (No: ԵՀԹ-29/355) in Armenia. It is assumed that this deposit has 9 500 kg of gold resources with a quality of at least 2.7 g / ton. MVI owns 60% of FG. AMC Consultants – Australia have been already contracted to perform MRE according to JORC for this deposit stating in the fall of 2023.

New copper and gold deposits: Ttujur and Tigranaberd

As part of the expansion of mining activities and the penetration of new deposits in Armenia, in April 2022 MVI signed an Agreement with Copper Solutions LLC – Armenia, on cooperation to obtain exploration and then mining licenses for the Tigranaberd/Tigranasar and Ttujur deposits (Armenia). The first deposit carries around 10.2 tons of gold with an average content of 8 g/ton, according to studies. The second, Ttujur is a copper deposit with a potential of up to 120 thousand tons of copper of 1.5% and 8 tons of gold of 1 g/ton. Copper Solutions LLC has already applied for exploration licenses. They are expected to be issued in summer of 2023. MVI already owns a 50% share in this project, with an option for another 30%, after the issuance of exploration licenses. AMC Consultants – Australia have been already contracted to perform MRE according to JORC for those deposit.

Geological upgrade to “indicated”

Based on the geological wells, boreholes and laboratory results carried out, along with the fact that the Karaberd mine is already a productive deposit, the mine’s category was upgraded from category III – so-called “inferred” to a higher category II – “indicated”. AMC Consultants – an accredited Australian geological firm based in Perth, which has been conducting geological analyses (MRE – Mineral Resource Estimate) at the Karaberd mine since 2020, and on February 2022 completed this important upgrade.

Mineral Ventures Invest spol. s r.o.
IČO: 07028750

ADDRESS: Ovocný trh 572/11,
Staré Město, 110 00 Praha

ADDRESS: Verin Antarayin 127/1 ,
Yerevan, 0009, Armenia

Certificate of Incorporation