West Wits Mining Limited · ASX:WWI
West Wits Mining — Shareholder Meeting (November 2012)
18 slides from West Wits Mining's shareholder meeting presentation, Nov 22, 2012
Slide 1: West Wits Mining Limited Annual General Meeting November 2012
Main heading West Wits Mining Limited (ASX:WWI) Annual General Meeting – November 2012 Explore, Evaluate, Extract
Slide 2: Disclaimer
Disclaimer Main heading This presentation may contain certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those act
Slide 3: Company Snapshot
Company Snapshot Main heading • Derewo River Gold Project, Papua Province, Indonesia • High grade placer deposit with coarse gold nuggets occurring within alluvial gravels • Similar characteristics to early stage Porgera, Edie Creek, Wau, Mt Kare in PNG • World class copper/gold Grasberg complex 100
Slide 4: Corporate Structure
Corporate Structure Main heading Capital Structure Ordinary Shares 255,722,340 Performance Shares 46,000,000 DRD Entitlement Shares 38,250,000 Options (var ex prices & dates) 61,065,000 Market Cap (@ $0.02) $5.1m Cash ~ A$0.8m Debt A$0 Enterprise Value ~ A$4.3m Shareholding (Top 5) % DRD Gold Limite
Slide 5: The story for 2012
The story Main for 2012…… heading Challenges faced: • Access denied at Derewo Alluvial site – artisanal miners maintain control • Forestry Permit held up • Supply chain supporting the artisanal miners are main benefactors of the illegal operations • Security forces on site compromised and ill-equipp
Slide 6: Derewo River Gold Project (“Derewo”)
Derewo River Gold Project (“Derewo”) Main heading • Elephant country – quality structural setting in favourable geology • Political/physical isolation delayed discovery until 2004 • Coarse nuggets contained in terraces along Derewo River • +120,000 oz Au recovered by artisanal miners over 6 years •
Slide 7: Derewo - Location
Derewo - Location Main heading • Nabire - base for operations, pop ~ 45,000 • Port and multiple airlines to Biak, Jayapura, Sorong, Timika – good access • Currently only helicopter access to minesite • 90km helicopter flight from Nabire to minesite 7
Slide 8: Exploration - significant anomalies
Exploration - significant anomalies Main heading • Geochemical dataset from Freeport consisted of 2,486 samples (27,440 assays) including rockchips, soil, stream sediment and panned concentrates (inc 6,874 g/t Au) • Geochemical data provided significant exploration targets; Wopogi (Au-Cu), Sena (Au)
Slide 9: Exploration - Wopogi (Au-Cu)
Exploration - Wopogi (Au-Cu) Main heading • 157km2 area • Wopogi presents as one likely source of the alluvial gold within the Derewo River & coarse gold placer • Initial target close proximity to alluvial operation • Gold geochem with coincident copper in multiple drainages on 20km strike • Channel
Slide 10: Exploration - Wopogi (Au-Cu) cont
Exploration - Wopogi (Au-Cu) cont Main heading • Geophysics identifies magnetic bull’s eye which overlays anomalous gold and copper geochemistry • Data highlights two significant structural features generally present in world class discoveries on New Guinea Island; • Major E-W structural boundary wh
Slide 11: Exploration – Next Steps
Exploration – Next Steps Main heading o Exploration camps and helipads at Wopogi established o Undertake detailed sampling and trenching at Wopogi o Further exploration geologist added to the team o Team is currently at site and beginning the initial sampling program o Complete a further geophysical
Slide 12: Alluvial Project – Historic models to follow (Porgera, Wau, Edie Creek)
Alluvial Project – Historic models to follow (Porgera, Wau, Edie Creek) Main heading All gold coarse and easy captured by sluice boxes Alluvial Mining at Porgera 1960’s Schematic of Mining 12
Slide 13: Alluvial Project – Mining Licence
Alluvial Project – Mining Licence Main heading • 40 Ha IUP Exploitation Licence (Mining Lease) granted • 10 year extension of the mining lease approved (2023) • Topographic survey underway • Heavy earth moving equipment on site • Environmental approval granted • Forestry Permit approval process ongo
Slide 14: Alluvial Project – Development Path
Alluvial Project – Development Path Main heading • Establishment of alluvial operation will provide cashflow and geological data for locating hard rock source Amano 2 99 Amano 1 45 81 14
Slide 15: Alluvial Project – Development
Alluvial Project – Development Main heading 15
Slide 16: Sale of South African exploration assets
Sale of South African exploration assets Main heading • WWI sold West Wits Lease, West Rand Consolidated Lease, Luipaardsvlei Lease and East Champ D'Or Lease for $9 million on milestones Instalment Timing Amount Upfront payment received A$2 million First instalment 23 November 2012 A$1 million Inter
Slide 17: Conclusion
Conclusion Main heading • Only ASX listed junior with exposure to high quality exploration targets in Papua Province, Indonesia • Elephant country – quality structural setting in favourable geology • Target models - Porgera Zone 7 (20moz) and Wafi/Golpu (30moz) • Security of tenure under new 2009 Mi
Slide 18: Contact
Contact Main heading Michael Quinert Tim Chapman Executive Chairman Corporate Manager Phone: +61 3 9824 8166 Phone: +61 3 9824 8166 Suite 2, 1233 High Street Armadale Suite 2, 1233 High Street Armadale Victoria 3143 Victoria 3143 18
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