Red Rock Resources plc · LSE:RRR
Red Rock Resources — Shareholder Meeting (November 2012)
43 slides from Red Rock Resources's shareholder meeting presentation, Nov 29, 2012
Slide 1: Annual General Meeting 2012
Annual General Meeting 2012 Thursday 29th November, Hilton London Paddington
Slide 2: Agenda
Agenda Formal proceedings – Ordinary Resolutions – Special Resolutions Informal proceedings – Presentation by Andrew Bell – General Questions – Coffee 2
Slide 3: Ordinary Resolutions
Ordinary Resolutions 1.) To receive the Report of the Directors and the audited financial statements of the Company for the year ended 30 June 2012. Discretion to Percentage of Resolution For Against Chairman Voting Rights Abstentions Total 1 177,971,060 68,062 7,392,198 0.7204% 50,000 185,481,320 3
Slide 4: Ordinary Resolutions
Ordinary Resolutions 2.) To re-elect Manoli Yannaghas as a Director of the Company, who retires by rotation under the Articles of Association of the Company and, being eligible, offers himself for re-election. Discretion to Percentage of Resolution For Against Chairman Voting Rights Abstentions Tota
Slide 5: Ordinary Resolutions
Ordinary Resolutions 3.) To re-appoint Grant Thornton UK LLP as auditor of the Company to act until the conclusion of the next Annual General Meeting and to authorise the Directors to determine the remuneration of the auditor. Discretion to Percentage of Resolution For Against Chairman Voting Rights
Slide 6: Ordinary Resolutions
Ordinary Resolutions 4.) That, in substitution for all existing and unexercised authorities, the Directors of the Company be and they are hereby generally and unconditionally authorised for the purpose of Section 551 of the Companies Act 2006 (“the Act”) to exercise all or any of the powers of the C
Slide 7: Special Resolution
Special Resolution 5.) That, in substitution for all existing and unexercised authorities and subject to the passing of the immediately preceding resolution, the Directors of the Company be and they are hereby empowered pursuant to Section 570 of the Act to allot equity securities (as defined in Sec
Slide 8: Company Presentation
Company Presentation Thursday 29th November 2012 Hilton London Paddington
Slide 9: Disclaimer
Disclaimer These presentation slides (the “Slides”) do not constitute an offer to the public or an offer for sale or solicitation to purchase or subscribe for any securities of the Company and they should not be relied on in connection with a decision to purchase or subscribe for any such securities
Slide 10: Corporate Profile
Corporate Profile Developer of Gold & Iron Ore Projects London Stock Exchange AIM listing: AIM:RRR Share Price: 1.45p Market Capitalisation: £13.26m Shares in Issue: 1,026,137,800 Major Shareholder: Regency Mines plc 15.09% Directors: Andrew Bell Chairman and CEO Manoli Yannaghas Executive Director
Slide 11: Corporate Profile
Corporate Profile Developer of Gold & Iron Ore Projects • Heavy expenditures in 2011-12 in declining market • Aimed at defining Mineral Resource Estimates (MREs) to JORC standard (Joint Ore Reserve Committee of Australia) in key gold and iron projects • Expect to announce fulfilment of these objecti
Slide 12: Value Creation Strategy
Value Creation Strategy Project Cycle Value Cycle New Project Production Acquire Dispose Exploration Development Expand Liquidity Event 12
Slide 13: RRR – Current Project Pipeline
RRR – Current Project Pipeline Phase Project Metal Activity Future Value Driver Realization/Disposal: Jupiter Mines Ltd Mn Fe Hold for sale First train, first ship, mktg Mt Ida Royalty Fe Laid off risk $6m received – 2012 H1 Production/Disposal: El Limon/El Mango Au Disposal Announce sale terms Deve
Slide 14: Migori Project Kenya (Au)
Migori Project Kenya (Au)
Slide 15: Investment Summary
Investment Summary Initial Investment July 2009 • Red Rock buys 15% in Mid Migori Mining Co Ltd (MMM) • Jan 2012: RRR takes an option over 4.94% Kansai common stock • Mar 2012: RRR owns, controls or has options over 37.96% of Kansai • Apr 2012: RRR appoints Ariel Partners LLP to assist in restructur
Slide 16: Project Overview
Project Overview Licence Areas Activities • SPL122 and SPL202 covering 310 km2 • Extensively explored since the mid-1980s • Extends 63km along strike length of the • Colonial era copper mining at Macalder Archean Migori greenstone belt • Scoping Study of the Macalder tailings dam completed • Other o
Slide 17: Project Location
Project Location Red Rock Drilling 2009 – 2011 • 15,000 metre infill DD/RC drilling programme across SPL122 resource prospects • 8,000 metre exploratory air core drilling • 1,500 metre scout drilling & 450 metres Tailings resource drilling 17
Slide 18: Red Rock Objectives
Red Rock Objectives Mikei Gold Resources • Nyanza high grade shoot under interpretation • Pit design work planned • Follow up high grade zones with drilling Advance the resources to feasibility stage Macalder Tailings Retreatment Project • Follow up Mining Lease Application and complete EIA • Contin
Slide 19: Mikei Gold Resources Summary
Mikei Gold Resources Summary Indicated Inferred Total Mt g/t Au Mt g/t Au Mt g/t Au Metal kOz Gori Maria (GM) 3.8 1.16 3.8 1.16 141 KKM 16.34 1.00 1.41 1.15 17.4 1.01 577 KKM-West (KW) 1.13 1.07 3.03 1.02 4.2 1.04 139 MK Pending Nyanza (NZ) 1.17 3.73 1.15 1.70 2.3 2.73 203 Total 18.6 1.18 9.4 1.18 2
Slide 20: Nyanza Resource: Highlights Migori Project Potential
Nyanza Resource: Highlights Migori Project Potential Advancement Towards Feasibility • Develop delineation of high grade ore shoots at Nyanza • Classic gold in greenstone model • vein hosted deposit • Including intersection of 10m @ 30.39g/t Au Nyanza Block Model at 1.5 g/t Au cut-off • Conceptual p
Slide 21: Macalder Tailings Summary
Macalder Tailings Summary Prospect JORC Classification Mt kOz Au g/t Au Cut-off g/t Au Macalder Tailings Measured 1.3 68 1.65 No Cut-off Tailings Dam • JORC Measured Resource (2011) 1.3Mt @ 1.65 g/t Au containing 68kOz Au • Remains of colonial era mining of Macalder VMS copper-gold mine; comprised o
Slide 22: Macalder Retreatment Project
Macalder Retreatment Project Macalder Tailings Retreatment Project (MTRP) • Mining Lease Application submitted to the department of Mines and Geology • EIA in progress and being carried out by independent consultants for submission to NEMA • Advanced metallurgical test work currently underway to det
Slide 23: Melville Bugt (Fe) Greenland
Melville Bugt (Fe) Greenland
Slide 24: Greenland Offer
Greenland Offer • Offer for 51% of Greenland JV received November 2012 from International Media Projects Ltd (“IMP”) • Total consideration - $17.75M USD cash payment, investor to own 51% interest in NAMA Greenland Ltd ("NGL") • RRR to retain interest in the Project of between 14% and 29% and would r
Slide 25: Why Greenland?
Why Greenland? • Little-explored area with great untapped resource potential • Retreating ice cap exposing additional ground annually • Exploitation now possible throughout much/all of year • Transport and logistical access to remote areas is improving • Government incentives to encourage exploratio
Slide 26: Melville Bugt Iron Ore Project
Melville Bugt Iron Ore Project Active licences: • Exploration Licence 2011/25 covering 1,570km2 (held by Joint Venture) • Prospecting licence for West Greenland (held by NAMA Greenland) Targets at Melville Bugt: • Banded Iron Formation (BIFs) • ~19km of locally enriched Archaean Algoma-type minerali
Slide 27: NAMA Greenland Joint Venture
NAMA Greenland Joint Venture • Mar 2011: RRR signs option agreement with North Atlantic Mining Associates Ltd. (NAMA) • Summer 2011: First Melville Bugt Field Season • Dec 2011: Year 1 Field Season closed, RRR receives 25% stake in NAMA Greenland Ltd. • Dec 2011: Year 2 Option picked up by RRR • Jan
Slide 28: Licence Area
Licence Area Western targets Eastern targets
Slide 29: 2012 Drill Programme
2012 Drill Programme Summary •10 Week drill season • Total meterage: 4,061m diamond drilling • Final assay results pending Q4 2012 Havik East - Magnetite • Preliminary XRF results ; •Havik East average range: 21.6-26.3% Fe •Havik Northeast average range: 19.4-25.2% Fe •Highest Fe content 67.6% over
Slide 30: 2012 Drill Programme
2012 Drill Programme Western Targets – Haematite De Dødes West • Preliminary XRF results ; • Average range: 18.2-23.4% Fe • Max grade of 70.3% Fe over 1m • Max BIF thickness of 87.0m Haematite Nunatak • Preliminary XRF results ; • Average range: 25.3-37.3% Fe • Max grade of 69.3% Fe over 1m • Max BI
Slide 31: Post MRE – Potential Way Forward
Post MRE – Potential Way Forward Focus on Haematite • Further exploration for DSO haematite at the De Dødes Fjord and Haematite Nunatak—Objective: DSO MRE • Initial drilling of ~7km long Tuukkaq anomaly • Continuing exploration/refinement of magnetite prospects in the western field area West Central
Slide 32: Regional Correlation
Regional Correlation • Melville Bugt iron formation shows direct geological correlation with the Mary River Deposit in Baffin Island, one of the world’s richest & largest undeveloped iron ore projects • Takeover by Arcelor Mittal & Nunavut valued at $CAD 593m Mary River Deposit • Proven & probable D
Slide 33: Battle of the Ports – What Makes MB Unique
Battle of the Ports – What Makes MB Unique • Numerous potential iron ore projects/mines identified world-wide • Many stalled in development due to delays caused by inadequate logistical connections and access • Railway capacity • Port throughput • Governments slow to react • Communities take NIMBY a
Slide 34: El Limon & El Mango Gold Mines Colombia (Au)
El Limon & El Mango Gold Mines Colombia (Au)
Slide 35: Colombia
Colombia Project Overview • El Limon and El Mango –gold mines in Antioquia, south of Zaragoza • RRR manages and operates under Four Points Mining (FPM) • RRR owns 51% of FPM • Proposed disposal to Ashmont Resources 35
Slide 36: Colombia
Colombia Production Highlights 2012 Revised the mine ventilation circuit and re-opening old ventilation shaft to surface Replaced the mill pinion, also reducing mill speed to improve efficiency Installed a new thickener in the plant to increase concentrate storage capacity Installed a Wilfre
Slide 37: Colombia
Colombia Production Highlights ‘12 continued… Re-timbered and installed new rail in the lower 1/3rd of the main shaft Extended internal shaft 6-7 down to level 8 Have completed, to date, around 40m of development on the new level 8; with vein widths around 20-40 cm and grades up to 30 g/t Au
Slide 38: Investment Holdings
) REDROCK - N Investment Holdings f. = a ais ss —— — ee SS a wee es J 11 january 2012
Slide 39: Jupiter Mines (Investment + Royalty)
Jupiter Mines (Investment + Royalty) 60.2m JMS Shares held by RRR c2.6% Market value A$5.84m Projects Overview Open pit manganese mine at Tshipi, South Africa 49.9% owned by Jupiter Started production Oct 2012 First trainload of ore (6,430 tonnes) loaded November 20th Mine life 60+ y
Slide 40: Summary Forecast
Summary Forecast Rationalisation and advance in Kenya Disposal of Colombia for cash Part disposal and risk reduction in Greenland Lay off cost of future exploration in Greenland Create strategic cash reserve Hold Jupiter for recovery 40
Slide 41: Other Plans for 2013
Other Plans for 2013 • New website! • Taken longer than planned but will be going live within 2-3 weeks • New features will include interactive maps, easier navigation, photo galleries, and more. • Built on HTML5 to enable use on portable devices. • Transparency: Red Rock, already a great communicat
Slide 42: General Questions
W GENERAL QUESTIONS yREDROCK 42
Slide 43: Contact Details
Contact Details Investment or Project Enquiries: General Enquiries: Andrew Bell Scott Kaintz Chairman Corporate Finance Manager Email: Andrew.Bell@rrrplc.com Email: Scott.Kaintz@rrrplc.com Marketing , Press or CSR Enquiries: Natasha Walton Head of Marketing and Community Affairs Email: Natasha.Walto
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