Cuba is a country of underestimated opportunity and promise. A country larger than about half of those on the planet, roughly the same size as the State of Pennsylvania, with well over 11 million inhabitants, it dominates the Caribbean basin. It has achieved full literacy and possesses high quality human capital that will be the secret weapon of Cuban economic development.
Geology has also blessed Cuba with world-class mineral resources, a fact that drew Canadian mining company Sherritt to Cuba 25 years ago to mine and process nickel-cobalt, and, more recently, Trafigura to build a substantial lead-zinc mining operation in Western Cuba.
After having served as Ambassador of Canada in Cuba for four years in the mid-1990s, I saw the tremendous potential of Cuba and have subsequently been involved directly in business in Cuba for the past quarter century. While Ambassador, I was direct witness to a period of intense Canadian junior mining exploration in the mid-1990s, which led me to conclude that there is much more still untapped opportunity in Cuban mineral resource development. Now is the time to pursue that promise robustly, especially at a time when the development of the country's mineral resources is a top priority for the Government of Cuba.
To this end, I was honoured to join with an excellent team of professionals to form Millbrook Minerals Inc., a private Canadian mineral resource development company dedicated uniquely and solely to the Cuban mining sector. Millbrook’s team includes field geologists who have lived and worked in Cuba, know Cuban geology better than any other foreigners and participated in a gold discovery made during the Canadian junior boom. Rounding out the team with deep expertise in mining law and capital markets experience, we at Millbrook are focused on the Cuba opportunity with highly specialized knowledge and relationships. We know Cuba, how to get things done and have a very advanced idea of where the metals lie.
Like all jurisdictions, Cuba has its own business culture, regulatory framework, mining sector policies and practices, but equally, like all jurisdictions, risk can be mitigated by knowing how to work effectively in the country and to secure concrete results. The mining sector in Cuba has a long history and is well-established, stable and orderly.
At Millbrook Minerals, we are proud that the Executive Committee of the Council of Ministers of Cuba has placed its trust in us by approving the breakthrough Contract that we succeeded in negotiating with our Cuban partner GeoMinera S.A. for the exploration and development of a large territory in central Cuba that could contain a large-scale classic VMS polymetallic belt with accompanying precious metals. This contract is the first of its kind. In our assessment, this is the most advanced prospect in Cuba, but there are others as well that show great promise.
It is an exciting opportunity in Cuba and I invite you to join Millbrook in developing what we expect will be the mineral resource story of the coming decade.
Chairman of the Board of Directors
Millbrook Minerals Inc.
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