In 1994, Diamond Fields Resources Inc. (formerly TSE:DFR) discovered a large nickel deposit along the eastern shore of Voisey’s Bay in Newfoundland, Canada. This deposit was estimated to contain 141 million tonnes at 1.6% nickel and was considered to be one of the most substantial mineral discoveries in Canadian history. Diamond Fields Resources Inc. was first founded in 1993 by Jean-Raymond Boulle and Robert Friedland and in 1996, the company was sold to Inco Ltd. (now Vale Inco Ltd.) for $4.3 billion, remarkably only three years after DFR was founded. Mr. Sedun was one of the Founding Directors and Shareholders, as well as the original Legal Counsel of Diamond Fields. This was the largest takeover of a junior mining company in Canadian history.
Vale Inco Ltd.
Suite 1600, 200 Bay Street
Toronto, Ontario, Canada
In 2007, Peru Copper (formerly TSX:PCR) was 100% acquired by the Aluminum Corporation of China (or “Chinalco”) for US$790 million (C$840 million) in an all-cash takeover after listing on the Toronto Stock Exchange in 2003 with a $65 million IPO. Mr. Sedun was part of the founding shareholder group of Peru Copper when it was founded in 2003 to acquire the Toromocho copper project in Peru. Under Chinalco, Toromocho was later advanced into full production and in 2016 produced 182,000 tonnes of copper. In November 2016, Chinalco signed a preliminary agreement with Peru’s government to expand production of its Toromocho mine and invest US$1.3bn, which could add an additional 70,000 tonnes per year to the mine.
Aluminum Corporation of China (Chinalco)
No. 62 North Xizhimen St.
Hai Dian District, Beijing, China
Tel: +86 10 8229 8103
Fax: +86 10 8229 8081
Adastra Minerals Inc. (formerly known as America Mineral Fields), was formed in 1995 by Mr. Jean-Raymond Boulle, one of the founders of Diamond Fields Resources Inc. (sold for $4.3 billion in 1996) and by Mr. Sedun, to develop Brazilian diamond interests but its focus quickly changed to Africa, in particular the Democratic Republic of Congo and Angola. It acquired the rights to the Kolwezi copper-cobalt project in the DRC in the 1990’s. In 2006, First Quantum Minerals (TSX:FM) acquired 100% of Adastra Minerals Inc. for approximately US$245 million (C$275 million).
First Quantum Minerals Ltd.
543 Granville Street, 8th Floor
Vancouver, BC, Canada
Luna Gold Corp. (formerly TSX:LGC) was a Vancouver-based gold producer focused on the Aurizona Mine in Brazil. Aurizona was in production from 2010 to 2015. Mr. Sedun was one of the original Founding Directors of Luna Gold, as well as its former President & CEO. Luna Gold raised over $150 million for its projects.
In 2017, Luna Gold merged with JDL Gold to create Trek Mining Inc. (TSX.V:TREK). Trek is currently advancing the Aurizona open pit mine, which is anticipated to recommence production by year-end 2018, targeting average annual gold production of 150,000 ounces for the first five years with all-in sustaining costs of US$708/oz, according to Luna’s September 2016 pre-feasibility study.
Suite 730, 800 West Pender Street
Mr. Sedun is currently the Lead Director of Core Gold Inc. (“Core Gold”), a producing gold mining company in Ecuador. In September 2016, Mr. Sedun and two partners took control of Core Gold (formerly Dynasty Metals & Mining Inc.) by investing US$4 million as part of a turnaround situation and reorganization. The Company owns the advanced stage Dynasty Goldfields mining project, the Zaruma mine and mill, the Jerusalem exploration project, and the Copper Duke exploration project. The Jerusalem project is immediately south of Lundin Gold’s Fruta Del Norte gold project, which is expected to produce 340,000 oz of gold annually at an all-in sustaining cash cost of US$623/oz (lowest cash cost quartile globally) once in production.
Mr. Sedun is a principal Founder and Director as well as the former Executive Chairman of Goldgroup Mining Inc., which went public in 2010 and is currently producing gold at its Cerro Prieto mine in Mexico. Mr. Sedun was an integral part of the team responsible for raising Goldgroup approximately $75 million to date, as well as selling one of its advanced stage projects for $25 million in 2010 to a Carlos Slim controlled company.
Goldgroup Mining Inc.
Suite 1502, 1166 Alberni St.
Vancouver, BC, Canada V6E 3Z3
Mr. Sedun was a principal founder and the former President/Director of Oceanic Iron Ore (“Oceanic”). Oceanic went public in late 2010 with an initial public offering of $20 million to finance the exploration and development of its Quebec iron ore properties, principally its flagship asset Hopes Advance. Based on its 2012 Pre-Feasibility Study, Hopes Advance has Proven & Probable mineral reserves of 1.4 billion tonnes of approximately 32% Avg Fe, a post-tax NPV8% of US$3.2 billion and levered IRR of 19.2% over a 30 year mine life. The asset has a life-of-mine operating cost of US$30/tonne, with the potential to be one of the lowest operating cost iron ore producers. The Company is currently advancing the Hopes Advance project through feasibility and in August 2016 signed an EPC framework agreement with Power China International on the future development for Hopes Advance. Power China will facilitate financing and assist with off-take agreements with Chinese steel producers. Mr. Sedun partnered with Frank Giustra in taking FEO public.
Oceanic Iron Ore Corp.
3083 Three Bentall Centre
595 Burrard Street
V7X 1L3, Canada
Mr. Sedun was a principal founder and the former Chairman/CEO/Director of Uracan which is a publicly-listed uranium exploration & development company with a focus in Saskatchewan, Canada. The Company originally discovered a uranium resource of approximately 44 million pounds U3O8 at its Quebec project and is currently focused on exploring its Saskatchewan exploration properties. Uracan was founded in 2006 by Mr. Sedun and his partners, Frank Giustra/Gordon Keep (UrAsia Energy Corp. — sold to Uranium One for over $3 billion in 2007, Goldcorp) and Clive Johnson/Tom Garagan (founders of B2Gold and Bema Gold, which was sold to Kinross Gold for $3.5 billion in 2007). Mr. Sedun helped Uracan raise approximately $40 million to develop its uranium projects.
Uracan Resources Ltd.
Suite 3123, 595 Burrard Street
Canada V7X 1J1
Geovic Mining Corp. (“Geovic”) discovered one of the world’s largest primary resource of cobalt located in Cameroon, Africa. Mr. Sedun partnered with Mr. Frank Giustra (one of the world’s most successful mining promoters and partner with President Bill Clinton in the Clinton Giustra Sustainable Growth Initiative) to finance Geovic and take it public in December 2006. In going public, Geovic raised $104 million in equity financings. Geovic owns a cobalt-nickel project in Cameroon, Africa. Mr. Sedun is a former Director of Geovic.
Geovic Mining Corp.
5500 E. Yale Ave., Suite 302
Denver, CO 80222