Interview transcript

November 9, 2007
Toronto, ON
Host: Ann Rohmer

ANN ROHMER: Adex Mining is a Canadian junior mining company focused on developing its flagship Mount Pleasant Mine property in New Brunswick. Joining us live from the TSX Broadcast Centre is the President and CEO, Kabir Ahmed. Nice to see you Kabir - thank you very much for joining us.

KABIR AHMED: Well thank you, Ann. It's a pleasure for me to be on your program.

Rohmer: Congratulations. Tell us about your company, please.

Ahmed: Adex Mining is listed on the TSX Venture Exchange and trades under the symbol ADE. The company, as you mentioned Ann, owns the Mount Pleasant Mine property, which is located in southwestern New Brunswick. The property was the site of a past-producing tungsten mine which also happens to host a lot of in-demand metals such as molybdenum, tin and indium, and as a result of great market prices today we have decided to revive the project.

Rohmer: What are those used for? That's the first I've heard of two of those three that you mention.

Ahmed: Well tungsten and molybdenum are used in steel production, whereas indium and tin are used in the electronics-manufacturing sector. Interestingly, indium is used as a thin-coat film for your LCD screens, perhaps the screens that are in your studios right now. Interestingly, a recent Canadian Business magazine article indicated that the demand for indium in relation to LCD screens is going to be incredibly large and it will grow to 130 million units annually by 2010 - just three years from now.

Rohmer: Who'd have thought? And also New Brunswick - I find that rather surprising, and again we were just talking about knowing your Canadian political and military history. Maybe we need to know our geography a little better in this country as well?

Ahmed: Exactly, and in fact the property is so well situated. It's just an hour south of Fredericton and an hour from St. John, New Brunswick, which is a deep sea port. In fact, I lived in New Brunswick quite some years ago, so I am proud to be back pushing this project forward with hopes for economic revival for the region.

Rohmer: And tell me how you mine these things? What's the procedure?

Ahmed: It's a very interesting procedure. In terms of tungsten and molybdenum, it's milled as an ore through underground operations. With regards to the tin and the indium, there is a process, a metallurgical process, of separating them from a near-surface open-pit mine, and of course the technology is available today as opposed to in the past for us to recover those metals in proper commercially saleable forms.

Rohmer: We realize that we are resource rich in this country, but it strikes me that we are also pretty smart when it comes to the technology of retrieving these things, mining these things.

Ahmed: Yes, that is correct. In fact, Canada is the leading country in the world in terms of the application of updated technologies to the mining sector.

Rohmer: Isn't that fantastic. Now in a situation like this, in New Brunswick, tell me about employment opportunities that develop because of this?

Ahmed: Well in fact I was at recent mining conference in Fredericton on Monday [Exploration and Mining New Brunswick 2007] where I delivered a presentation to the New Brunswick audience, and we were able to discuss and highlight a lot of the economic benefits that will be generated for the region. As you know, New Brunswick has traditionally been a little bit lackluster in terms or economic development. But with the new Premier [the Hon. Shawn Graham] and the new government in place, they are very committed to creating economic opportunities for New Brunswickers and Canada in general.

Rohmer: Well it's interesting because we focus so much on the west and what's going on there and the boom in just about everything. It's really nice to see that there is tremendous potential in the eastern part of the country.

Ahmed: Yes, in fact, from what I understood during my conference in New Brunswick, a lot of New Brunswickers are returning home so they can experience the quality of life as opposed to perhaps some places in western Canada.

Rohmer: Tell me about your own company and the people who work for you, and the kind of background as far as their experience is concerned, and their commitment to what they are doing following in your footsteps.

Ahmed: Well thank you, Ann. In fact, we believe that there are a number of positives that are very favorable to Adex Mining, not least of which, of course, is we did a recent a C$9 million dollar financing. We have and own a past-producing mine which of course can be producing again, and the international demand for the four metals that I mentioned is expected to be very strong in the foreseeable future. In respect to your question about the management and technical team that we have in place, we've got a very experienced management and technical team comprised of geologists, mining engineers and chemical engineers, who will help us guide the project to production.

Rohmer: You know it's interesting, if you connect a dot or two, we're often concerned about our young people and the education that they're seeking. It's just a reminder that in a country like Canada, very skilled labor is what is really the next big step for employment in this country, and to stay in school and learn the specifics skills if you can.

Ahmed: I agree with you Ann, and in fact we are very committed to recruiting professionals for the University of New Brunswick, which has a superb mining and mining engineer program.

Rohmer: What's your future? What's next?

Ahmed: Well, with the C$9 million financing that we put into place we've initiated a very active exploration and development program. We expect drilling to commence in March of 2008; and while we are waiting for drilling, we've already started a very robust program of upgrading the existing infrastructure at the mine with a view to mineral production in the very near future.

Rohmer: Thank you very much, Kabir. Nice to work with you and a pleasure to meet you.

Ahmed: Thank you so much Ann. It was my pleasure as well.