Millennium Minerals — Non-Deal Roadshow (February 2018)
29 slides from Millennium Minerals's roadshow presentation, February 2018
Slide 1: A debt-free Australian gold miner achieving its growth targets
A debt-free Australian gold miner achieving its growth targets ► Strong production and cash-flow ► Expansion studies nearing completion ► Outstanding results from exploration Peter Cash, Chief Executive Officer North American Investor Roadshow, February 2018 1
Slide 2: Disclaimer
Disclaimer This presentation contains only a brief overview of Millennium Minerals Limited (“Millennium”). The contents of this presentation, including matters relating to the geology of Millennium’s projects, may rely on various assumptions and subjective interpretations which it is not possible to
Slide 3: Corporate Overview
Corporate Overview ASX Code Cash & Bullion at 31 Dec 17 Key Shareholders MOY A$22.4M Shares on Issue Debt 787.5M NIL ASX Index Market Cap (A$0.22/share) Board Greg Bittar Non-Executive Chairman All Ords ~A$177M Peter Lester Non-Executive Director Tim Kennedy Non-Executive Director Michael Chye Non-E
Slide 4: Millennium Investment Overview
Millennium Investment Overview ► 100%-owned Nullagine Gold Project, Pilbara region of WA ► More than 400,000oz produced since start-up in 2012 ► Debt-free and generating strong cash-flows: ► CY2017: 72,848oz at AISC of A$1,372/oz ► Dec 17 Quarter: 21,401oz at AISC of A$1,290/oz ► Mar 18 Quarter: tar
Slide 5: Our Key Assets and Growth Strategy
Our Key Assets and Growth Strategy Nullagine Operations Exploration Evolving mining strategy ► Substantial ongoing exploration commitment ► Investing in future growth ► ► Outstanding success to date Positive Expansion Study Moving Underground ► Unlock the value of the significant Development of firs
Slide 6: Nullagine Project Fly-through
Nullagine Project Fly-through *Note – Animated Flythrough (available to view at: www.millenniumminerals.com.au) 6
Slide 7: Nullagine Operations – Overview
Nullagine Operations – Overview ► Strong production and cash-flow base in WA’s East Pilbara ► Average annual production of ~75-80kozpa since 2012 ► CY2017 production of 72,848oz at AISC A$1,372/oz reflected impact of severe wet season last year ► Significant operational improvements and upgrades com
Slide 8: Nullagine Project – Extensive Organic Growth Opportunities
Nullagine Project – Extensive Organic Growth Opportunities ► Five operating Mining Centres with a sixth Mining Centre now emerging: ► +40km strike length and +30 targets ► Substantial ongoing commitment to exploration with 4 drill rigs currently on site ► Exploration strategy focused on: ► “Sulphide
Slide 9: Sulphide Resources – The Growth Opportunity
Sulphide Resources – The Growth Opportunity ► Nullagine Mineral Resource includes an extensive Sulphide inventory ► Sulphide Expansion Study on track for completion in Q1 2018, paving the way for Millennium to unlock the significant value of this asset ► Metallurgical testwork last year confirmed th
Slide 10: Sulphide Resources – New Processing Breakthrough
Sulphide Resources – New Processing Breakthrough ► Encompasses addition of a small modular concentrating circuit to the tail-end of the existing CIL plant ► Well-understood process – used successfully for years to process sulphide ore at major WA mines including Granny Smith and KCGM in Kalgoorlie ►
Slide 11: Going Deeper at Nullagine – Emerging Potential at Depth
Going Deeper at Nullagine – Emerging Potential at Depth 11
Slide 12: Going Deeper at Nullagine – Emerging Potential at Depth
Going Deeper at Nullagine – Emerging Potential at Depth Scope for substantial increase in Mineral Resources with extensive mineralisation identified beneath all known resources: ► Minimal deeper drilling below the shallow oxide deposits which have been discovered and mined to date ► Extensive drilli
Slide 13: Bartons – The First Underground Mine at Nullagine
Bartons – The First Underground Mine at Nullagine ► Major pit cut-back underway, paving the way for the commencement of underground development later this quarter ► Ongoing drilling delivering outstanding high-grade intercepts: ► 11m @ 21.46g/t incl. 3m @ 62.17g/t and 3m @ 12.13g/t ► 11m @ 9.34g/t i
Slide 14: Bartons – The First Underground Mine at Nullagine
Bartons – The First Underground Mine at Nullagine ► Outstanding thick, high-grade results from recent deeper drilling, including standout intercepts of: ► 10.5m at 38.64g/t Au, including 5m @ 79.96g/t Au ► 41m at 6.02g/t Au, including 2m @ 87.47g/t and 1m @ 167g/t ► 17m at 3.41g/t Au, including 1m @
Slide 15: Bartons – The First Underground Mine at Nullagine
Bartons – The First Underground Mine at Nullagine ► Outstanding thick, high-grade results from recent deeper drilling, including standout intercepts of: ► 10.5m at 38.64g/t Au, including 5m @ 79.96g/t Au ► 41m at 6.02g/t Au, including 2m @ 87.47g/t and 1m @ 167g/t ► 17m at 3.41g/t Au, including 1m @
Slide 16: Bartons – The First Underground Mine at Nullagine
Bartons – The First Underground Mine at Nullagine ► Underground Feasibility Study completed with UG development commencing by end of Q1 2018 ► Short-list of preferred underground contractors finalized with contract award imminent ► Mineralisation remains open at depth and along strike – all deeper h
Slide 17: Sulphide Resources – Pipeline of Additional Underground Targets
Sulphide Resources – Pipeline of Additional Underground Targets Now replicating the Bartons approach at other deposits… Shearers ► Potential for cut-back to Shearers pit ► Conceptual UG mine design completed ► Upgrading Resource to Reserve status Golden Gate ► High-grade mineralised extensions below
Slide 18: Sulphide Resources – Pipeline of Additional Underground Targets
Sulphide Resources – Pipeline of Additional Underground Targets Now replicating the Bartons approach at other deposits… Shearers ► Potential for cut-back to Shearers pit ► Conceptual UG mine design completed ► Upgrading Resource to Reserve status Golden Gate ► High-grade mineralised extensions below
Slide 19: Sulphide Resources – Pipeline of Additional Targets
Sulphide Resources – Pipeline of Additional Targets Now replicating the Bartons approach at other deposits… Shearers ► Potential for cut-back to Shearers pit ► Conceptual UG mine design completed ► Upgrading Resource to Reserve status Golden Gate ► High-grade mineralised extensions below previously-
Slide 20: Sulphide Resources – Pipeline of Additional Targets
Sulphide Resources – Pipeline of Additional Targets Now replicating the Bartons approach at other deposits… Shearers ► Potential for cut-back to Shearers pit ► Conceptual UG mine design completed ► Upgrading Resource to Reserve status Golden Gate ► High-grade mineralised extensions below previously-
Slide 21: Crow – Emerging Underground Potential
Crow – Emerging Underground Potential Crow ► Impressive recent results from drilling targeting higher grade mineralisation at depth: • 13m @ 15.42 g/t Au from 90m including 11m @ 17.60 g/t Au (CROWRD0064A) • 5m @ 2.79 g/t Au from 77m including 2m @ 5.47 g/t Au (CROWRD0062) • 5m @ 2.40 g/t Au from 92
Slide 22: Oxide Exploration – Remains a Key Priority
Oxide Exploration – Remains a Key Priority ► Oxide exploration targeting incremental ounces: ► Near-mine, shallow targets including extensions adjacent to existing pits ► New brownfields discoveries ► Drilling continues to deliver thick, high-grade intersections across the entire mineralised trend:
Slide 23: Oxide Exploration – Remains a Key Priority
Oxide Exploration – Remains a Key Priority ► Oxide exploration targeting incremental ounces: Redbeard ► 8m @ 8.44g/t Au incl. 7m @ 9.32g/t Au ► Near-mine, shallow targets ► Rock chip results up to 16.4g/t Au including extensions adjacent ► Rock chip results of +5g/t Au along entire length of 280m-lo
Slide 24: Redbeard – From Discovery to Resource in just 2 Months!
Redbeard – From Discovery to Resource in just 2 Months! ► Maiden Indicated and Inferred Mineral Resource: ► 245,700t @ 2.6g/t Au for 20,600oz ► Resource delivered less than two months after drilling commenced in November 2017 ► New record for Millenium’s exploration team for advancing an exploration
Slide 25: Oxide Exploration – Remains a Key Priority
Oxide Exploration – Remains a Key Priority ► Oxide exploration targeting incremental ounces: ► Near-mine, shallow targets including extensions adjacent to existing pits ► New brownfields discoveries High-grade results spanning entire mineralised trend ► Drilling continues to deliver thick, high-grad
Slide 26: Millennium – Key Investment Takeaways
Millennium – Key Investment Takeaways Nullagine Gold Project generating consistent production and cash-flows Strong, debt-free balance sheet maximises free cash-flow and minimises risk Improved mining strategy delivering benefits – focusing on larger, more sustainable ore sources Expansion study und
Slide 27: Mineral Resource Estimates
Mineral Resource Estimates December 2016 Mineral Resource (including Sulphide Ore ounces) Tonnes Ounces Incl. Ounces in Mineral Resource Category Grade (g/t Au) (Mt) (000’s) Sulphide Ore (Koz) Measured 11.02 1.3 459.7 283 Indicated 11.37 1.3 470.1 270 Inferred 9.37 1.2 350.6 294 Total 31.76 1.3 1,28
Slide 28: Competent Person’s Statement
Competent Person’s Statement The information in this presentation relating to exploration results from the Nullagine Project has been extracted from various Company announcements and are available to view at www.millenniumminerals.com.au. The information in this presentation relating to Mineral Reso
Slide 29: Thank you. Questions?
A debt-free Australian gold miner achieving its growth targets Thank you. Questions? North American Investor Roadshow, February 2018 29
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