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Nevada
Star has two properties going into production, one property in an advanced exploration
stage with a major JV partner, and one property in a "grass roots" exploration
stage
Natural Resources
Exploration & Development
(NEV-TSX & NVSRF-OTC: BB)
Nevada Star Resource CP
10735 Stone Avenue North
Seattle, WA USA 98133
Phone: 425-467-1836
Robert Angrisano
President and Director
Interview conducted by:
Lynn Fosse, Senior Editor
CEOCFOinterviews.com
November 17, 2005
BIO:
Robert Angrisano
President and Director
Mr. Angrisano graduated from the University of Oregon with a degree in Business
Administration. He retired from Microsoft Corp. in July 2004, after spending more than
eleven years in a variety of positions including Director of Technology, Director of
Business Windows, and Senior Principal Technologist.
Mr. Angrisano was the President, Director and a principal shareholder of M.A.N. Resources,
Inc., which the Company acquired in February 2002. Mr. Angrisano is a Fire Commissioner
for Kittitas County Fire District #8 and serves on other Boards not related to the mineral
exploration industry. Mr. Angrisano has spent 28 years in consulting and management in the
high technology industry and has been involved in the mining industry since 1995. His
principal responsibilities have been guiding companies' directions and strategies as well
as operational management.
Company Profile:
With headquarters in Seattle, Washington and an office in Vancouver, British Columbia,
Nevada Star was incorporated in 1987 and currently has project sites in three states: Alaska,
Nevada, and Utah. The Nevada and Utah projects are gold and copper properties,
respectively, which will be going into production in early 2006. Robert Angrisano is the
company's President and Bill Stone Ph.D., is Vice President of Exploration.
CEOCFO: Mr. Angrisano,
will you tell us about your background with the company?
Mr. Angrisano: “I started investing in Nevada Star back
in 1995 and at the same time, myself and two other gentlemen, formed a company called
M.A.N. Resources with the charter of discovery and development of a major new source of
PGE metals. I became director of Nevada Star 1999.”
CEOCFO: What is
happening at Nevada Star?
Mr. Angrisano: “We have some very exciting things going
on. We are known in the industry as a company that is quietly creating solid shareholder
value by having a laser focus on a few properties with major upside potential. We have two
properties that are going into production. We have a copper property in Milford, Utah that
had a banking feasibility study done in 1998. It was recently updated and published by the
company we optioned the property to, which is Western Utah Copper Company. They plan to
put the property into production the beginning of 2006. We have a royalty agreement with
an NSR for all metals coming out of the property.
We have a gold property in Nevada, which is going
into production. We are encouraging our partner to publish the resource and reserves
discovered on this property. This is a joint venture with Round Mountain Gold, which is a
partnership between Kinross and Barrick Gold. The Round Mountain Gold facility is about
five miles from our Gold Hill property. This property is in the final stages of an EIS
study, which should be completed late this fall. The EIS study states that the
property is schedule to go into production in the spring of 2006. This is also an NSR
royalty-based situation.
Our biggest exploration project is our M.A.N. Alaska
property. Nevada Star began work on its Alaskan property, officially called the MAN Alaska
project, in 1995. The 280 square miles of Alaskan property is located 160 miles southeast
of Fairbanks, and borders the Richardson and Denali Highways. In addition, the Alaska
pipeline boarders the property, providing access to low-cost energy to power a mining
operation. This property is divided into three logical project areas; area 1, 2, and 3.
Area 1 is about 55% of the southern part of that property and is under joint venture right
now to Anglo American Exploration. They’re starting their third year of exploration
on that project. The northern part of the property is divided into two sections. Area 2 is
a nickel PGE copper property, with the same potential as area 1. Area 3 is a recently
defined area of gold and copper project. Area 3 has had a long history gold placer mining
that goes back to the late eighteen hundreds and all the way through the mid-nineteen
nineties. We have taken our time to define and develop this project and to discover the
source of the bedrock gold and native copper. During the 2005 exploration season, we
completed our definition of the target area and added additional claims to the project
holding. We are now looking for a joint venture partner for project.”
CEOCFO: Is your plan to
find the properties and then joint venture to get it going?
Mr. Angrisano: “That is correct. We will develop a
property to a “drill ready” stage and then bring in a larger partner to actually
do the drilling.”
CEOCFO: How do you
decide which properties you want?
Mr. Angrisano: “We have specific criteria when
evaluating properties. We know what we are good at. We are not an exploration company that
is into the “mineral of the month” in an attempt to pump up our stock. We only
interested in gold, copper, nickel, and PGE properties because that plays to our expertise
and what we have been successful putting these types of propertied into production. We
look for properties that are large enough in size to be of interest to major mining
companies. We have no intention on building mines ourselves and no intention of building
small operations or putting small operations into production. We look at elephant size
projects with world-class potential.”
CEOCFO: Since you are
using advanced technology in the discovery process, what are you doing that perhaps some
of the other companies have not, and will hopefully lead to some success?
Mr. Angrisano: “One of the things that we look for in
our partners is people who have a philosophy of discovery similar to ours and that relates
to the phrase “advanced technology.” For instance, in the M.A.N. Alaska project,
Anglo Exploration is using a geophysical system called “Squid” to look for
massive sulfite bodies. The SQUID system is a UTEM like system with a super conductor
hooked up to it. That superconductor basically supercharges a normal UTEM system and
allows it to see much deeper and with higher definition than normal UTEM technology.
Anglo helped develop this system and they are using it on our MAN Alaska property.
We look for companies that are going to use some leading edge technology to try to
discover an ore body as quickly as possible.”
CEOCFO: You are listed
on both the TSX and the OTC Bulletin Board and not many companies in your field that have
both, why is that good strategy?
Mr. Angrisano: “I do not know if it was so much a
strategy as a historical situation. We started out as a Yukon based company listed on the
TSX Venture Exchange. I think that is traditional for many exploration companies that need
to raise financing. In the U.S. market, raising financing is extremely difficult because
the brokerage firms do not understand exploration companies. We listed on the U.S. market
because the majority of our shareholders are U.S. based and this provides our US
shareholders the ability to buy stock sell our stock.”
CEOCFO: Is attracting
shareholders a focus for you?
Mr. Angrisano: “We run a lean operation. We do not have
an investor relations company that promotes the stock. Our philosophy is to develop
shareholder value by picking great projects and great partners. We have not found a IR
company that would work for the benefit of our company and existing shareholders. We have
funds in the bank, two properties going into production in 2006, which will put us in a
positive cash-generating situation. Not many exploration companies enjoy this
position.”
CEOCFO: Are you looking
for additional properties?
Mr. Angrisano: “We are in the process of doing an all
out push on our copper-gold project on the M.A.N. Alaska property. We are looking at other
gold, nickel and PGE properties and a very extensive exploration program to extend on our
M.A.N. Alaska property.”
CEOCFO: What are the
challenges you see going forward and how do you prepare?
Mr. Angrisano: “The biggest challenge I have is creating
value on the market for our shareholders. In most industries, you have independent
analysts that are truly independent that will review companies and develop independent
opinions based on the merits of the company and its financial and business structure. I
have not found these to exist in this business. The analysts in this industry are
motivated to give favorable opinion for shares of stock or private placement, which means
shareholder dilution. I’m use to working in an industry where vendors do not buy and
sell opinions. I have not found that to be true in the exploration business.”
CEOCFO: In closing, what
should people know about the company that might not be visible on the surface?
Mr. Angrisano: “I think there are several things that
make us unique. One is the people behind the company. The majority of the stock is owned
the Chairman of the Board and myself. We have financed the company with our own money for
many years. I continue to buy stock on the open market. We believe in the company and are
heavily invested personally in the success of the company. We tell our shareholders
exactly where we are and give them straight information to allow them to decide if this is
a company, they want to invest in. We are in this for the long-term and so are our
shareholders. The exit strategy for the company is to hit a large enough discovery where
it would be financially compelling for a JV partner to buy the company. The exit strategy
is for a multi-dollar increase in the stock price through merger with a very large mining
company. Most of our shareholders are in this for the long-term; this is not a trading
stock. I would very much advise investors that are looking for the quick hit, to trade
somewhere else. We want long-term shareholders to see the vision that we have and that are
willing to invest in a long-term vision. What makes us unique is we have two properties
going into production next year, which will create positive cash flow. That in itself
should be worth the stock at about three or four times of where it is now.”
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