The Company


Novcorp is a Canadian based licensed and regulated trader of ethically sourced tin with operations in the Democratic Republic of Congo (DRC). The head office is located in Toronto, Canada. The DRC subsidiary is licensed to trade tin, tantalum and tungsten. The company established operations during the COVID era of 2020 and began purchasing tin in the fourth quarter of 2020. The company sells it products through long term established off take agreements. In 2023 the company entered an agreement to go public through a Canadian based stock market listing.

2019 - 2020
  • Company Formation in Canada and DRC
  • Company opened first depot in Kindu, Province of Maniema
2021-2022
  • Company Formation in Stabilized 1st Depot with bi-monthly production of 38MT
2023
  • Series B Capital raise completed in Canada
  • Company launched second and third depot in Manono (Province of Tanganyika) and Lubumbashi (Province of Haut-Katanga)
  • Signed and secured second off take
2024
  • Production increased to 80 MT per month in Q1
  • Target is 250 MT per month by year end

Our Vision


« Providing responsible 3T to the world »

Novcorp is proud to contribute to the evolution of the 3T global supply chain in a world where sustainability, accountability, transparency and traceability are essential. Novcorp positions itself as a stakeholder important part of this process.

Our key figures for 2024:

The company continues to expand production quarter by quarter after completing two new depots in Q3 of 2023.

100

employees

4

processing units

150

Average monthly production MT

1

Offtake agreements

Operations


Novcorp has three wholly owned and operated depots located in Maniema, Manono and Lubumbashi. The product is purchased, sorted, upgraded and exported from these depots.

Our processing units are located in Kindu, Manono, Mitwaba and Lubumbashi

See projects

Capital Requirements


The company is seeking 10M USD of debt/equity financing to expand production. A total of 9.5 million will be used for tin and tantalum purchasing and 500 thousand will be used for small processing plants and general working capital. The payment cycles across all depots are generally four to six weeks. To accommodate this cycle it is estimated that 50% of the 9.5 million will be used for each cycle.

Financial Projections




Capital Structure


  • Private Canadian Corporation
  • Canadian and DRC filings up to date
  • DRC Corp is 100% owned by CDN Corp.
  • 80 M shares outstanding
  • Management owns 40%
  • 46 M warrants or options
  • 1.1 M in friendly debt
  • Private valuation 22.5 M CDN at most recent price

External Advisors and Auditors


Description of Maniema


The Province of Maniema was created by Order No. 88-031 of July 20, 1988. It was given provincial status after the breakup of the former Province of Kivu. It includes the seven territories of Kambare, Kailo, Kasongo, Kibombo, Lubutu, Pangi and Punia which is the capital of the province. Economically, the province of Maniema has significant mining potential with significant artisanal mining east of the Congo River. It is essentially tin ore (cassiterite) and associated elements such as tungsten (wolframite), niobium also known as columbium and tantalum (coltan), located more towards the northern part of the province (Lubutu, Punia, Kasese, Kailo, Kalima), as well as gold in sites located mainly in the southern part (Kama, Bikenge, Salamabila/Namoya, Kabambare). Some diamond exploitations are reported west of the Congo River, in the Phanerozoic lands in the Bahina chiefdom in Kibombo, as well as in Amilulu north of Lubutu. This province is three quarters occupied by forest and contains enormous potential for the development of the population. Forest products are numerous and varied. In particular, forest species are well identified but until now have been exploited in an artisanal manner. Maniema also contains 24 natural forest reserves, some of which have already been invaded by the population. The province has a National Park, nature reserves and tourist sites. But tourism is very little developed due to lack of infrastructure. Agriculture remains the main activity of the province. Despite the favorable conditions for intensive and diversified agriculture, the population mainly practices traditional cultivation of staple foods such as rice, plantains, corn and cassava. Finally, in recent years, the working population has become increasingly interested in commerce, which is experiencing strong expansion.



Description of Manono


The territory of Manono is the largest territory in the province of Tanganyika. Compared to the other territories of the province, the territory of Manono is the only territory which has only one dominant tribe which is the Luba tribe; although pygmies are found in all territories. Its surface area is 34,198 km², the estimated population size is 600,865 inhabitants. The Manono Territory is drained by the Congo River (Lwalaba), the Luvua River and its numerous tributaries. The vegetation of the territory is generally composed of grassy savannahs suitable for all crops and hunting. Its relief is rugged, dominated by dense forests, gallery forests and valleys. The soil is sandy-clayey, alluvial and humous. There are five types of soil which are generally used for agropastoral purposes. The relief of the Manono territory is marked by the presence of a rugged valley, hard rocks, granites, quartzites, mica schists and plateaus with violently jagged edges, sometimes leaving jagged spurs remaining, like the Kiwele peak. Agriculture is the main activity of the territory. It constitutes the main source of income for the territory.

In addition to agriculture, the territory of Manono is full of numerous minerals including cassiterite (SnO2) which is sometimes accompanied by tantalum and niobium minerals; coltan, wolframite, copper, green tourmaline,…



Description of Lubumbashi


Lubumbashi is the administrative capital of the Katanga Province. After the capital Kinshasa, it is the second city in the Democratic Republic of Congo in terms of its history, its economic importance and its population. Founded in 1910 to exploit local mineral wealth, the city is designated as the “Capital of Copper”. As the second industrial and commercial center of the DRC, it exercises various economic functions (head offices of large companies such as Gécamines, SNCC, etc.), political (provincial capital), cultural and religious (university town since 1956, it currently contains several public and private universities and higher institutes, head offices of the various Catholic, Protestant, Kimbanguist Churches, the Muslim religion and the Awakening Churches). Thanks to these activities, the city of Lubumbashi is a place of meeting and mixing of populations of diverse origins, a multicultural space par excellence. From 1,300 inhabitants in 1910 (at its creation), the population of Lubumbashi increased to 183,639 inhabitants in 1960, the time of the DRC's accession to international and national sovereignty. In 2017, the population of Lubumbashi was estimated at some 2,028,198 inhabitants. The extractive industry (especially copper) developed foundry and metalworking.