Slide 1: Mount Morgan Gold - Copper Project
For personal use only Mount Morgan Gold - Copper Project
Slide 2: Mount Morgan – Feasibility Study Results Presentation
Mount Morgan – Feasibility Study Results Presentation For personal use only 1. Important Information and Disclaimer 2. 9.5 Year Maiden Ore Reserve 3. Ore Reserve 4. AISC 5. 20 Year Expanded Case 6. Key Results 7. Capital and Operating Costs 8. Mining 9. Processing and Metallurgy 10. Pyrite Concentra
Slide 3: Important Information and Disclaimer
Important Information and Disclaimer For personal use only The presentation is to be read in conjunction with the ASX Announcement entitled “Mount Morgan Feasibility Study Delivers 2 Year Payback and AISC of A$549/oz” released to the market on 8 December 2016 (ASX: CRB). Summary information and not
Slide 4: 9.5 Year Base Case – Maiden Ore Reserve
9.5 Year Base Case – Maiden Ore Reserve • Feasibility Study completed delivering 9.5 year Base Case1 (Ore Reserve) establishing For personal use only foundation for long life project with a 2 year payback and AISC2 of A$549/Au oz • Ore Reserve of 9.9Mt @ 1.8 g/t AuEq3 (1.2g/t Au, 0.16% Cu, 21% Pyrit
Slide 5: Ore Reserve
Ore Reserve No 2 Mill 2.8Mt @ 1.7g/t AuEq, 1.1g/t Au, 0.11% Cu, 24% Py For personal use only Mount Morgan Open Pit Mundic Gully 1.5Mt @ 2.6g/t AuEq, 2.0g/t Au, 0.17% Cu, 19% Py Red Oxide Sandstone Gully 0.7Mt @ 2.5g/t AuEq, 2.11g/t Au, 0.3% Cu Shepherds Gully 4.8Mt @ 1.5g/t AuEq, 0.84g/t Au, 0.17% C
Slide 6: FS - AISC
FS - AISC All – In Sustaining Cost, Australian producing mines & developers1 For personal use only PRODUCING MINES DEVELOPING MINES $1,400 $1,400 $1,200 $1,200 $1,000 $1,000 $800 $800 $/oz Au $600 $600 $400 $400 $200 $200 $- $- 1 – PCF Capital (2015 Y Data) 6
Slide 7: 20 Year Expanded Case
20 Year Expanded Case For personal use only • 20 year project is an extension to Ore Reserve (“Base Case”) • Expanded Case material processed is 22Mt @ 1.6g/t AuEq1, (0.9g/t Au, 0.12% Cu, 21% Pyrite) • First 9.5 years – “Base Case”, Ore Reserve • +9.5 years to achieve 20 years expansion (same throug
Slide 8: Key Results Expanded Case – Cautionary Statement
Key Results Expanded Case – Cautionary Statement The expanded case referred to in this announcement has been undertaken to show the likely extension of the 9 year Mineral Reserve base case out to 20 years. It is a preliminary technical and economic study of the potential viability of the Mount Morga
Slide 9: Capital and Operating Costs
Capital and Operating Costs Initial 9.5 year Base Case 20 year Expanded Case For personal use only Capital Cost Capital Cost - Same preproduction capital as Base Case Description Pre-Production (A$M) Total Project (A$M) - Additional $21.7M included in Total project capital Processing Plant 75.6 75.6
Slide 10: Mining – Ore Reserve (9.5Yrs.)
Mining – Ore Reserve (9.5Yrs.) Mining Pre- Units Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Total For personal use only Location production Total ALL Ore (kt) 47 919 1,172 1,146 1,140 1,140 1,131 1,140 1,132 937 9,904 AuEq (g/t) 1.18 2.22 2.21 2.01 1.98 1.44 1.58 1.61 1.61 1.55 1
Slide 11: Processing and Metallurgy
Processing and Metallurgy For personal use only • 3 stream processing facility producing copper sulphate, unroasted iron pyrite and gold – Copper resin leaching (RIP) – Pyrite concentrate flotation – Gold carbon leaching (CIL) – Cyanide detox and recovery • Water treatment plant utilisation and cont
Slide 12: New Processing Facility
New Processing Facility For personal use only
Slide 13: Processing Physicals – Base Case (9.5 Yrs.)
Processing Physicals – Base Case (9.5 Yrs.) Processing Units Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Total Total ALL Ore (kt) 894 1,098 1,094 1,095 1,108 1,101 1,110 1,101 914 9,515 For personal use only AuEq (g/t) 2.30 2.33 2.07 2.02 1.46 1.60 1.64 1.63 1.57 1.85 Au (g/t) 1.8
Slide 14: Processing Physicals – Expanded Case (20 Yrs.)
Processing Physicals – Expanded Case (20 Yrs.) For personal use only AuEq ozs (Produced) 70 60 50 AuEq ozs 40 30 20 10 - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Year • Detailed split of Expanded Case Processing Schedule provided in Appendix I and Section 15.1 of full announcement (ASX: 8
Slide 15: Pyrite Concentrate
Pyrite Concentrate Pyrite Markets China 1,000,000 For personal use only 900,000 • 3 specific markets for Pyrite Concentrate 800,000 700,000 • Sulphuric Acid – Bulk supply of premium concentrate to China, 600,000 • Sulphuric Acid – Bulk supply of premium product to Europe, and tns 500,000 • Industria
Slide 16: Project Financing and Timeline
Project Financing and Timeline For personal use only Project Finance • Formal process with potential financiers to commence • Short payback 2 years and long life will enhance funding process Estimated Project timeline • Preliminary project engineering to commence in parallel with project approvals •
Slide 17: Project Approvals
Project Approvals For personal use only • Mining Lease and Environmental Authority in place. • Three remaining approvals: 1. Environment - Environmental Authority MIN100708908 was previously approved for the project in 2010. The Environmental Authority Amendment application is required due to variat
Slide 18: Project Sensitivities
Project Sensitivities • Project “operating margin” is sensitive to changes in For personal use only commodity prices, exchange rates and operating costs. • Financial sensitivity is dominated by USD:AUD exchange rate. – A change USD:AUD exchange has the largest impact on the operating margin. A +/- 1
Slide 19: Thank You
Thank You For personal use only For further information: Investors Tony James – Carbine Resources +61 8 6142 0986 Community Liaison Russell Dann – Carbine Resources +61 431 963 017 Media Paul Armstrong – Read Corporate +61 8 9388 1474 19
Slide 20: Appendix A – Capital Structure, Board & Management
Appendix A (ASX:CRB) Capital Structure Board & Management For personal use only ASX Code CRB Chairman John Fitzgerald Managing Director Anthony (Tony) James Shares on issue 193 Million Director Graham Brock Share Price 13 cents1 Director Evan Cranston Unlisted Options Chief Operating Officer Terry M
Slide 21: Appendix B – Competent Person Statement
Appendix B – Competent Person Statement The information in this report that relates to Exploration Targets, Exploration Results and the Inferred Mineral Resources for Mount Morgan In-Pit and Sandstone Gully is based For personal use only on, and fairly represents, information and supporting document
Slide 22: Appendix C – Mineral Resources
Appendix C – Mineral Resources For personal use only JORC 2012 Mineral Resource Table reported at a 0.00g/t cut-off (refer ASX announcement dated 30 August 2016). Rounding Errors can occur. Area Type Category Tonnage Gold Gold Copper Copper Silver Silver Sulphur Pyrite Equiv (Mt) (g/t) (Koz) (%) Met
Slide 23: Appendix D – Exploration Target
Appendix D – Exploration Target For personal use only Exploration Target Table (ASX:30 August 2016). The potential quality and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration wi
Slide 24: Appendix E – Ore Reserve
Appendix E – Ore Reserve For personal use only Mineral Reserve Table (ASX: 8 December 2016). this estimate has been prepared in accordance with JORC Code (2012) guidelines. Further details for the estimate can be found in FS announcement and the JORC code table 1 located at the back of that announce
Slide 25: Appendix F – Metal Equivalents
Appendix F – Metal Equivalents For personal use only Both AuEq (g/t) and PyriteEq (wt%) have been used in this announcement. AuEq was calculated for each ore source based on the different metallurgical recoveries associated with those ore sources. A combined Total AuEq was also determined for repres
Slide 26: Appendix G – FS Base Case Mining Schedule
Appendix G – FS Base Case Mining Schedule Mining Pre- For personal use only Units Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Total Location production Total ALL Ore (kt) 47 919 1,172 1,146 1,140 1,140 1,131 1,140 1,132 937 9,904 AuEq (g/t) 1.18 2.22 2.21 2.01 1.98 1.44 1.58 1.61
Slide 27: Appendix H – FS Base Case Processing Schedule
Appendix H – FS Base Case Processing Schedule Processing Units Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Total Total ALL Ore (kt) 894 1,098 1,094 1,095 1,108 1,101 1,110 1,101 914 9,515 AuEq (g/t) 2.30 2.33 2.07 2.02 1.46 1.60 1.64 1.63 1.57 1.85 For personal use only Au (g/t) 1
Slide 28: Appendix I – FS Expanded Case Processing Schedule
Appendix I – FS Expanded Case Processing Schedule For personal use only 28