Goldstone Resources Limited · LSE:GRL
Goldstone Resources — Investor Presentation (September 2019)
41 slides from Goldstone Resources's investor presentation, September 2019
Slide 1: Implement discovery into production
Implement discovery into production GoldStone Resources Ltd Corporate Presentation Q3 2019
Slide 2: Disclaimer
Disclaimer Disclaimer The content of this presentation has not been approved in terms of the UK Financial Services and Markets Act 2000. This presentation does not constitute an offer, invitation or solicitation to purchase or subscribe for any securities of the GoldStone Resources Ltd - Corporate P
Slide 3: Contents
GoldStone Resources Ltd - Corporate Presentation Q3 2018 Contents Summary 3 Economics 7 Geological 9 Operational 15 Project Costs 24 Corporate 35 2
Slide 4: Who is GoldStone?
Who is GoldStone? Fast tracking gold production at the Akrokeri-Homase Project in 2020 within the world-class Ashanti belt in Ghana GoldStone Resources Ltd - Corporate Presentation Q3 2019 Definitive Economic Study shows positive economics for 3 open pits from the JORC Resource of 602,000oz Au along
Slide 5: Location
GoldStone Resources Ltd - Corporate Presentation Q3 2019 Location Homase Akrokeri Obuasi 4 Homase Pit produced 52,500oz Au @ 2.5g/t Au from 2002-03
Slide 6: Progressing Towards Production
Progressing Towards Production Low cost heap leach GoldStone Resources Ltd - Corporate Presentation Q3 2019 processing facility from three Process tailings satellite open pits Akrokeri U/G mine, c.91,000 tonnes @ 2.27 g/t or 6,500 oz contained gold recovery of 73% Initial LOM - 5 years All In Cost o
Slide 7: Definitive Economic Plan
Definitive Economic Plan Fast tracking gold production at the Akrokeri-Homase Project in 2020* “within the world- class Ashanti belt in Ghana” GoldStone Resources Ltd - Corporate Presentation Q3 2019 Phase 1 AKHM Gold Project: c.72,000oz Gold Production average head grade 1.22g/t Open Pit Five years
Slide 8: Economics
7 GoldStone Resources Ltd - Corporate Presentation Q3 2019 Economics
Slide 9: Robust Economics
Robust Economics Low Initial Capex, Rapid Payback Definitive Economic Plan Highlights GoldStone Resources Ltd - Corporate Presentation Q3 2019 Gold Price (Base Case) US$1,300/oz FX Rate GHS 5.263: US$1.00 Mineable Resource (inc. tails) 2.26 Million tonnes Homase Mine Initial Mine Life 5 Years 2002/0
Slide 10: Geological Information
9 GoldStone Resources Ltd - Corporate Presentation Q3 2019 Geological Information
Slide 11: Where we are
Where we are GoldStone’s assets lie in one of the most prospective gold belts in the world: Ghana’s Ashanti Gold Belt which hosts the Obuasi Mine GoldStone Resources Ltd - Corporate Presentation Q3 2019 AKHM lies 12km along strike from Obuasi Mine: 34.05 Moz @ 7.30 g/t* Process for Mining Lease and
Slide 12: Surrounding Geology
Surrounding Geology AKHM - 12km along strike to the Obuasi Mine Mineral Resource 34.05M oz @ 7.30 g/t* AngloGold Ashanti recently committed to spend >US$500 million for restart GoldStone Resources Ltd - Corporate Presentation Q3 2019 11 Obuasi - 8km strike and 1.5 km depth Total historical and curre
Slide 13: Obuasi growth 1995 – 2000
Obuasi growth 1995 – 2000 Major Deep Drilling Programme (2km below surface) Where AKHM sits along strike: GoldStone Resources Ltd - Corporate Presentation Q3 2018 1000m depth 2000m depth Obuasi Analogue Widths of ore shoots: 100 – 400 m 12 Lengths of ore shoots: 500 – 2,500 m down plunge
Slide 14: Comparable Geology
Comparable Geology Common Features of Birimian mesothermal gold mineralisation between Obuasi and AKHM GoldStone Resources Ltd - Corporate Presentation Q3 2018 Obuasi Quartz veins and mineralisation in Arsenopyrite in metasediments Visible gold occurring in fractures graphitic sheared faults surroun
Slide 15: JORC Resource open at depth
JORC Resource open at depth The JORC Resource is within the Homase Trend only to a depth of 250 m The two drilling campaigns completed in 2016 & 2017, NOT included in the JORC Resource GoldStone Resources Ltd - Corporate Presentation Q3 2019 Typical Birimian meta-sediment, disseminated sulphide, she
Slide 16: Operational Information
GoldStone Resources Ltd - Corporate Presentation Q3 2019 15 Operational Information
Slide 17: Free Dig Open Pit Mines
Free Dig Open Pit Mines Existing infrastructure with compact footprint GoldStone Resources Ltd - Corporate Presentation Q3 2019 16
Slide 18: Production Profile
Production Profile Exploration trenches have Open pit mine life extension: GoldStone Resources Ltd - Corporate Presentation Q3 2019 tested target open pits Parallel deposits Blind ore shoots Push-backs Ounces Produced Average – 14,400oz/yr Average recovery Total 2.26Mt for 72,000oz Pit ore = 82% Tai
Slide 19: New Pits along the JORC Resource
GoldStone Resources Ltd - Corporate Presentation Q3 2019 3 New Pits along the JORC Resource Tonnage Grade Gold (million) (g/t) (ozs) Measured 1.61 2.24 116,000 Indicated 4.41 1.73 245,000 18 Inferred 4.56 1.64 241,000 TOTAL 10.6 1.77 602,000
Slide 20: The North Pit
GoldStone Resources Ltd - Corporate Presentation Q3 2018 19 The North Pit
Slide 21: The Central Pit
GoldStone Resources Ltd - Corporate Presentation Q3 2018 20 The Central Pit
Slide 22: The South Pit
GoldStone Resources Ltd - Corporate Presentation Q3 2018 21 The South Pit
Slide 23: What lies beneath: The Main Pit
GoldStone Resources Ltd - Corporate Presentation Q3 2018 22 what lies beneath The Main Pit – mined 2002-2003
Slide 24: Schematic of Operations
GoldStone Resources Ltd - Corporate Presentation Q3 2019 23 solution columns Carbon in Schematic of Operations
Slide 25: Project Costs
GoldStone Resources Ltd - Corporate Presentation Q3 2019 24 Project Costs
Slide 26: Low Initial Capital Outlay
GoldStone Resources Ltd - Corporate Presentation Q3 2019 Low Initial Capital Outlay DESCRIPTION US$ MINING MOBILISATION 250k INFRASTRUCTURE 624k PROCESS PLANT 3.830k POWER GENERATORS & DISTRIBUTION 350k SOCIAL & ENVIRONMENTAL 516k WORKING CAPITAL 750k CONTINGENCY @ 10% 632k TOTAL 6.95M 25 Project co
Slide 27: Low Cost, High-Margin Gold Mine
Low Cost, High-Margin Gold Mine Phase 1 Costs Splits Open Pit Mining GoldStone Resources Ltd - Corporate Presentation Q3 2019 0.9% Phase 1 Phase 1 11.1% Description LOM LOM 10.4% 43.0% US$/t US$/oz 3.4% Mining 10.5 315 Processing 7.6 227 31.1% G&A Ghana 0.8 25 Royalties & Community 2.5 76 Closure Pr
Slide 28: Development Schedule
GoldStone Resources Ltd - Corporate Presentation Q3 2019 Development Schedule FINANCE/CONSTRUCTION/PRODUCTION H1 2020 Q3 2019 CONSTRUCTION FEASIBILITY FINANCING PROJECT FIRST GOLD STUDY CONSTRUCTION REVENUE PERMITTING EARLY COMMISSIONING EXPLORATION NEEDS/WORKS Q4 2019 H2 2020 27
Slide 29: Exploration Information
GoldStone Resources Ltd - Corporate Presentation Q3 2019 28 Exploration Information
Slide 30: Exploration Targets
Exploration Targets Historical Akrokeri Mine • Old Akorkeri Mine hosts high grade quartz veins including 1.0 metre at 51.01 g/t Au or >1.5oz/tonne GoldStone Resources Ltd - Corporate Presentation Q3 2019 • North Shaft, 27m, and Norton Shaft, 33m, providing access to the old mine workings • Refurbish
Slide 31: Continuous Review of Previous Work
Continuous Review of Previous Work Period Company 1900- Akrokeri Ashanti Permit Akrokeri Method Holes Under- ground Two Shafts Metres 800 feet Target Mined 75,000 oz @ 24 1909 depth g/t Au Mines Ltd Mining 1900 – 1909 1996- Birim GoldStone Resources Ltd - Corporate Presentation Q3 2019 Akrokeri DD 9
Slide 32: Homase Mine extending from 2003
Homase Mine extending from 2003 Homase Pit – 90% owned • Ashanti Goldfields Limited Homase Pit produced 52,500oz Au @ 2.5g/t Au from 2002-03 GoldStone Resources Ltd - Corporate Presentation Q3 2019 Deep trench proves free dig 31
Slide 33: Homase Trend - Just Keeps Going
Homase Trend - Just Keeps Going Represents knowledge on sub-surface for: 18m @ 2.57 g/t 17m @ Homase Main Homase Main South 4.19 g/t GoldStone Resources Ltd - Corporate Presentation Q3 2019 31m @ 2.17 g/t 14m @ 13m @ 6.55 g/t 10.92 g/t Incl. 2m @ 24.03 g/t 6m @ 14m @ 3.62 g/t 2.86 g/t 7m @ 5.78 g/t
Slide 34: Akrokeri Mine picking up from 1909
Akrokeri Mine picking up from 1909 Akrokeri Mine – 100% owned • Akrokeri Ashanti Mines Limited operated the GoldStone Resources Ltd - Corporate Presentation Q3 2019 Akrokeri underground mine from 1904 to 1909 • Produced 75,000oz Au @ 24g/t average recovered grade • High grade quartz veins, up to 1.5
Slide 35: Akrokeri – Ashanti Fissure Extension
GoldStone Resources Ltd - Corporate Presentation Q3 2019 34 Akrokeri – Ashanti Fissure Extension
Slide 36: Corporate Information
GoldStone Resources Ltd - Corporate Presentation Q3 2019 35 Corporate Information
Slide 37: Board Driving Development Progress
Board Driving Development Progress Emma Priestley Bill Trew Chief Executive Officer Non-Executive Chairman GoldStone Resources Ltd - Corporate Presentation Q3 2019 Experience in African business An engineer with 40 years experience development, a former director of Lonrho in the mining and finance s
Slide 38: Management
Management Darryl Norton Chief Operating Officer Engineer with 38 years of experience developing mines and building process plants in the mining industry internationally, particularly in Africa, the Former Soviet Union & South East Asia GoldStone Resources Ltd - Corporate Presentation Q3 2019 Sophia
Slide 39: Ownership and Capital Structure
Ownership and Capital Structure Key Data Key Shareholders Market : Ticker AIM : GRL Paracale Gold Ltd 28% GoldStone Resources Ltd - Corporate Presentation Q3 2019 Shares in Issue 249,707,991 BCM Investments Ltd 20% Warrants 43,352,377 Fiske Nominees 7% Market Cap GBP4.75M Pershing Nominees Ltd 5% Sh
Slide 40: Investment Opportunity
GoldStone Resources Ltd - Corporate Presentation Q3 2019 Investment Opportunity Postcode – Obuasi as a neighbour, 12km along strike Board – all disciplines covered Short Term – get into production Long Term – develop multi-million ounce mine 39
Slide 41: Old Mines Don’t Die They Are Merely Sleeping
Old Mines Don’t Die They Are Merely Sleeping
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