Company Overview

Comesta Mining Group Corporation Ltd & Estacom Mining Ghana Ltd. Company and Project Overview Comesta Mining Group Corporation Ltd (Comesta) is a UK private limited company, registered under company number 08733461 and incorporated on 15 October 2013. The Companies House overview lists its former name as Comesta Mining Corporation Ltd, used from 15 October 2013 to 19 July 2023, and its registered business activity as SIC 09900 — Support activities for other mining and quarrying. The project documentation describes the company as having been founded by Swiss investors. Its focus is on developing a technologically advanced gold mining operation in Ghana that combines commercial production with transparent supply chains, responsible mining practices and local community development. Estacom Mining Ghana Ltd is the Ghanaian project company and a wholly owned subsidiary of the London-based Comesta Mining Group. Its certificate of incorporation confirms that it was incorporated in Accra on 2 November 2022 under the Companies Act, 2019 (Act 992), with limited liability and registration number CS176241122. Claudio Schlegel, Comesta’s CEO, also represents Estacom in Ghana. The registration document dated 2 November 2022 records 7,000,000 issued and fully paid ordinary shares, with GHS 7,000,000.00 paid in cash by Comesta Mining Group Corp. Ltd. The ownership structure has remained unchanged since then. The first project is the Assin Breku concession in the Assin North District of Ghana’s Central Region. The prospecting licence provided (file reference APL-P-501) names Estacom Mining Ghana Limited as the licence holder and specifies an originally licensed area of approximately 104.08 km². The geological report dated February 2025 also states an area of 104.08 km² and documents initial investigations into alluvial gold. Initial development focuses on gold-bearing sand and gravel; longer-term plans include additional mining units, further concessions and expansion into hard-rock gold mining. The project is seeking investors and commercial partners to support the transition from exploration and development to production. Planned Products and Capabilities Gold production and supply: The principal planned product is physical gold from the Estacom concession, to be offered to gold buyers and offtake partners. The proposed business model combines local extraction and processing with a transparent supply chain for customers, including European buyers. The licence provided grants prospecting rights but is not a mining licence conferring the right to undertake commercial production; it provides for a separate application for a mining licence subject to certain conditions. Commercial deliveries therefore depend on obtaining the necessary mining and other permits, securing financing, and completing installation and commissioning. The next steps are the environmental impact assessment report and submission of the mining lease application. Mine development and operations: The group plans to coordinate concession development, machinery procurement and installation, excavation, material handling, gold recovery and the provision of a local workforce. Estacom’s constitution and registration document list mining, the provision of social services and mining equipment, as well as mining consultancy and training, among its corporate objects. Phased processing: For Phase 1, the investment teaser prioritises a lower-capital-cost operation using gravity separation and washing equipment, including trommel screens, hydro cyclones and centrifugal concentrators, in 2027. Expansion to a carbon-in-leach (CIL) plant with a processing capacity of 300 tonnes per day is planned for 2028. Investment and Business Opportunities Phase 1 financing: Comesta is seeking USD 300,000 to establish an initial gravity-based gold recovery operation and generate cash flow for further development. The CAPEX-OT budget provided totals USD 292,350: preparation and operational start-up, USD 156,000; processing plant, transport and importation, USD 47,625; two months’ rental of an excavator and wheel loader, USD 40,000; and a 20% contingency allowance of USD 48,725. Preparation includes legal and technical documentation, a used vehicle, site preparation and initial compensation payments. This leaves USD 7,650 of the proposed financing above the stated start-up budget. A financial plan is available. Commercial gold production remains subject to the continued validity of mineral rights and the necessary mining and other permits. Operating scenario for gold offtake: The OPEX-Offtake model provided covers operating months 1–9, including three start-up months, and assumes a constant gold price of USD 4,000 per ounce. It projects 240 ounces in each of months 1, 2 and 3, and a total of 2,000 ounces for months 4–9, giving an overall total of 2,720 ounces and USD 10,880,000 in gross revenue. The document states total operating costs of USD 3,523,360 and “CASHFLOW” of USD 7,356,640. These are the company’s planning figures. Equity investment: The teaser proposes a 30% equity stake in Estacom Mining Ghana Ltd in return for the Phase 1 investment, together with negotiable protective rights over strategic decisions and the option of joint signing authority for local business accounts. These are proposed transaction terms and may be adapted to suit the investor. Gold offtake: An alternative proposal links the financing to future deliveries of physical gold (offtake). The teaser describes a 10% discount to the LBMA price until the USD 300,000 investment has been repaid, followed by a continued 10% discount until the investor has received an additional net profit equal to the original investment. An equity stake or shares held as collateral may also be incorporated into this proposal as security. Alternative structures combining equity and offtake, or loan arrangements, are possible. The OPEX-OTake revenue model uses USD 4,000 per ounce and can readily be adapted to a dynamic pricing model if the investor so wishes. The investor’s return, pricing, repayment accounting, delivery specifications, security arrangements and enforceability will be agreed jointly in a definitive contract. Partnerships for expansion: The group is seeking relationships that can support additional mining units, future processing capacity and further concessions. Longer-term plans include hard-rock mining. Partner Matching on the Investment Platform Through this platform, Comesta and Estacom hope to connect with investors and commercial partners interested in gold mining development in Ghana, early-stage project financing, minority equity investments, physical gold offtake and responsible mineral supply chains. Following the signing of a non-disclosure agreement, interested parties will have access to a comprehensive data room. Relevant partner categories: Africa-focused investors; mining and commodities investors; strategic gold buyers and offtakers; gold refineries; suppliers of mining equipment and washing plants; machinery leasing and logistics partners; and specialists in engineering, environmental matters and responsible sourcing. These categories reflect potential partnership needs. Keywords for partner matching: Ghana; Assin North; Central Region; investment in Africa; gold mining; alluvial gold; mine development; project financing; USD 300,000 financing; blocking minority equity investment; gold offtake; physical gold delivery; gravity separation; washing plant; future CIL processing; mining equipment; transparent supply chain; responsible sourcing; IRMA implementation; community development; Swiss-Ghanaian corporate governance. Responsible Mining and Community Development Comesta’s stated objective is to develop the project in line with OECD principles and IRMA standards, with assessments intended to support progress towards responsible mining. Its plans include supply chain transparency, site safety, revegetation and a dedicated local social support structure to be funded with 30% of the company’s net profit. Education and healthcare are highlighted as areas of benefit to local communities. These are company commitments and implementation objectives; preparatory work for IRMA certification is available for review in the data room. Enquiries: PGC Technologies AG, Peter Gschwind, adviser to Comesta and responsible for IRMA implementation. E-Mail: info@pgc-technologies.com. Telefone: +41 79 322 65 41.

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