Executive Summary
Sovereign Mines of Africa plc is a mineral exploration company incorporated in England and Wales. At the end of 2007, the Founders saw an opportunity to pool their collective expertise and experience in order to form joint ventures for mineral exploration with governments in Africa. The Republic of Guinea in West Africa was identified as the first target, and this ultimately gave rise to the establishment of the Company in 2010. The Company entered into a cooperative joint-venture with the Government of Guinea (the basis for which is referred to in this document as the Sovereign Partnership Model), pursuant to which the Government of Guinea was granted a 40 per cent. equity stake in SMG, the operating company of the Group. The Directors believe that this gives the Company an unusual advantage compared with other small exploration companies in that it has been able to acquire five early stage substantial and highly prospective gold properties, covering a total of around 3,600 square kilometres, any of which could, in the Directors
