Slide 1: Nova Site Visit Presentation
INDEPENDENCE GROUP NL Nova Site Visit Presentation For personal use only 3 August 2019 ASX:IGO / ADR:IIDDY 1
Slide 2: Cautionary Statements & Disclaimer
Cautionary Statements & Disclaimer For personal use only • This presentation has been prepared by Independence Group NL (“IGO”) (ABN 46 092 786 304). It should not be considered as an offer or invitation to subscribe for or purchase any securities in IGO or as an inducement to make an offer or invit
Slide 3: Competent Person's Statements
Competent Person’s Statements For personal use only • Any references to IGO Mineral Resource and Ore Reserve estimates should be read in conjunction with IGO’s Annual Update of Exploration Results, Mineral Resources and Ore Reserves dated 20 February 2019 (Annual Statement) and lodged with the ASX f
Slide 4: Welcome to Nova
Welcome to Nova Welcome to Ngadju Country For personal use only We meet today on the lands of Ngadju people, and we acknowledge their deep spiritual connection to this country. Painting by Valma Wicker Schultz, a Ngadju Traditional Owner and Artist. IGO commissioned this artwork specifically to reco
Slide 5: Agenda
Agenda For personal use only 1 Nova Operational Review 2 IGO – Smart Solutions 3 Underground and Surface Site Tour 4 Growth – Exploration 5 Growth – Nickel Sulphate Project 6 Q&A 5
Slide 6: Nova - Making A Difference
Nova - Making A Difference Recognised asset manager that continually strives to improve and excel For personal use only Delivery We consistently and enduringly deliver on our promises, safely, efficiently, sustainably and reliably Doing better Delivered by people who We make a difference by continuo
Slide 7: Operational Overview
Operational Overview Transitioned from ramp up to steady state operation For personal use only Discovery Construction Start Ni & Cu First Offshore GC Drilling Exceeded July 2012 Jan 2015 Shipment Complete Guidance Jun 2017 June 2018 June 2019 2012 2013 2014 2015 2016 2017 2018 2019 Feasibility Study
Slide 8: FY19 Operational Highlights
FY19 Operational Highlights Operational outperformance from Nova For personal use only FY19 Nova metal production exceeded FY19 Metric Units FY19 Guidance production guidance Nickel in concentrate t 30,708 27,000 – 30,000 Copper in concentrate t 13,693 11,000 – 12,500 Cobalt in concentrate t 1,090 8
Slide 9: Reflection on FY19
Reflection on FY19 Strong FY19 laying the foundation for operational excellence For personal use only FY19 Production and Costs Financial Summary(1) Tonnes A$/lb 1Q19 2Q19 3Q19 4Q19 FY19 9,000 $3.00 (A$M) (A$M) (A$M) (A$M) (A$M) $2.78 8,000 $2.50 Revenue and other income 107 109 166 122 504 7,000 $2
Slide 10: People & Safety
For personal use only People & Safety 10
Slide 11: Our People, Our Culture
Our People, Our Culture Culture is fundamental to our success For personal use only 13% Improvement in Employee Engagement 11% Improvement in pride working for IGO with a score of 80% 12% Decrease in turnover; currently ~19% 16% Female employment Mapping our culture to understand how to influence an
Slide 12: Safety
Safety Caring for our people For personal use only Key Lag Safety Metrics Reduction in the absolute number of people hurt and 25 the average seriousness of injuries 20 69% reduction in the High Potential Incident Frequency Rate (HPIFR) 15 26% 10 reduction in the Total Reportable Injury Frequency Rat
Slide 13: Community
Community Caring for our Community For personal use only $3.3M ✓ royalty payments to the Ngadju people; the traditional owners $0.5M ✓ Corporate giving payments to 46 organisations $0.4M ✓ Support for local businesses ✓ Active engagement With local schools 13
Slide 14: Environment
Environment Caring for our environment For personal use only Rehab Trials Tailings Landform Zero ✓ ✓ ✓ ✓ Investigations into Conducting trials of Storage erosion resistant Material land revegetation Leading practices environmental final slope designs post mining and design incidents and materials 14
Slide 15: Mining
For personal use only Mining 15
Slide 16: Mining - Highlights
Mining - Highlights Strong mining performance in FY19 For personal use only 25% 56% 42% Increase in nickel tonnes Increase in paste fill Reduced TRIFR over FY19 mined in FY19 compared volumes and now at Life- to FY18 of-Mine instantaneous paste fill rates 16
Slide 17: Mining – Project to Date
Mining – Project to Date Nova de-risked with grade control drilling and substantially all of development complete For personal use only 19.4km Capital development 13.3km Operating development 5.3km Surface drilling completed 324km Underground grade control drilling completed 12.5m x 12.5m Undergroun
Slide 18: Mining – Underground Development
Mining – Underground Development Underground development reducing toward completion For personal use only Mining Development 3,500 25.0 50% Decrease in development crews YoY with 3,000 currently one development crew onsite 20.0 Development Cost ($ million) 2,500 1,712 Development Advance (m) 1,322 1
Slide 19: Mining Overview
Mining Overview Steady state mining in FY19 after ramp up in FY18 For personal use only Stoping higher grade areas of Nova and Bollinger Mined Metal (t) • 36 stopes mined during FY19 t • 38 stopes planned for FY20 10,000 8,000 Mining Efficiencies 6,000 • Maximum number of mining fronts available 4,0
Slide 20: Mining - Reconciliation
Mining - Reconciliation Life of mine de-risked, with high level of confidence in operational plan For personal use only CY18 Ore Reserve Estimate – Nickel Metal 1% 99% Ore Reserve in Proved category 99% Grade control drilling completed over Proved Probable Life-of-Mine, our reserve model is our grad
Slide 21: Mining – Operational Excellence
Mining – Operational Excellence Focus on cost and productivity improvements For personal use only Key Operational Excellence Projects for FY20: • 1 Equipment productivity and tracking • 2 Automation and technology benefits • 3 Paste binder optimisation • 4 Stope design optimisation Operational Excel
Slide 22: Processing
For personal use only Processing 22
Slide 23: Processing - Highlights
Processing - Highlights Excellent FY19 Performance For personal use only Ore Milled (kt) kt 450 400 5% 350 over nameplate capacity of 1.5Mtpa with 300 ability to process at 1.8Mtpa 250 200 150 100 50 1.58Mt Ore milled in FY19 0 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 Metal Production (t) Tonnes 9,00
Slide 24: Processing - Recoveries
Processing - Recoveries Improved & sustained recoveries over FY19 For personal use only Recoveries trending higher 90 89.0 88 86.8 86.8 2.2% Metal recoveries (%) 85.6 87.0 86.4 86.4 86 86.4 87.1 84 81.8 85.3 87.0 Improvement in nickel recovery with 82 82.9 step change delivered in 4Q19 82.5 80 81.2
Slide 25: Processing – Operational Excellence
Processing – Operational Excellence Focus on recovery and cost improvements in FY20 For personal use only Key Operational Excellence Projects for FY20: 1 Strategy to continue to improve recoveries • Operational data with real-time analysis and machine learning • Optimisation of regrind circuits • Op
Slide 26: Financials
For personal use only Financials 26
Slide 27: Nova Financials
Nova Financials Operation focused on free cash flow generation For personal use only Quarterly Financial Performance A$M A$M 120 344 390 340 ✓ A$344M Cumulative free cash flow (FCF) since commercial operation 100 95 93 90 89 86 290 80 80 74 71 70 68 240 60 73% 52 53 190 Cumulative free cashflow gene
Slide 28: C1 Cash Costs
C1 Cash Costs Declining cost profile since first production For personal use only Quarterly Cash Cost Performance (A$/lb Ni) A$/lb Ni 8.00 28% Reduction in costs YoY from higher nickel 6.00 volumes covering overheads costs 3.98 4.00 3.84 2.78 2.68 2.00 1.79 1.94 2.22 27% 1.50 YoY reduction in operat
Slide 29: FY19 Costs
FY19 Costs Impacted by lower by-product prices than forecast For personal use only Cash Cost Reconciliation A$ 2.50 3.5% Higher than top-end of FY19 Guidance 2.00 A$0.45 FY19 Guidance Range 1.50 A$0.08 22% Of C1 cash costs driven by variance in by-product commodity pricing 1.00 A$2.07 assumptions A$
Slide 30: Site Costs
Site Costs Continued focus on productivity and efficiencies For personal use only Site Costs (A$/t) A$/tonne FY20 costs forecast to marginally 140 higher than FY19 ($/tonne basis) FY20 Target 120 17 19 14 14 100 Several programs underway to 35 34 37 optimise and maximise margins 80 33 60 Two years o
Slide 31: Nova – Capital
Nova – Capital For personal use only Metric Units FY19 Guidance FY19 FY20 Guidance Sustaining / Improvement Capex Sustaining/ 50% improvement A$M 21 – 24 11.2 24 – 26 Reduction of FY19 actual compared to Capex mid-point of guidance Development 11% A$M 25 – 28 23.0 6–8 Increase in capex focused on wa
Slide 32: FY20 Nova Guidance
FY20 Nova Guidance(1) Consistent performance and high margin projected into FY20 For personal use only Metric Units FY20 Guidance Nickel in concentrate t 27,000 – 30,000 Copper in concentrate t 11,000 – 12,500 Cobalt in concentrate t 850 – 950 Cash cost (payable)(2) A$/Ib Ni 2.00 – 2.50 Sustaining/
Slide 33: Smart Solutions
For personal use only Smart Solutions 33
Slide 34: Smart Solutions: Care, Operational Excellence, People & Culture
Care Leveraging technology to doing what is right because we care for the wellbeing of our employees, our impact on communities and the environment a ~ —, hange v \ NW | Potential to deliver step-change al 7 opportunities for the future SMART SOLUTIONS Operational Excellence Optimising our assets th
Slide 35: Smart Solutions Used at Nova Operations
Underground EVs Personnel Tracking Surface Blasting Machine Learning Milling Advanced Data Capture, Simulator Automation Drone Technology Blaster 3000 Process and Analytics SMART SOLUTIONS USED AT NOVA OPERATIONS
Slide 36: IGO – Smart Solutions: Hybrid Diesel/Solar PV Facility
IGO – Smart Solutions Hybrid Diesel/ Solar Photovoltaic (PV) Facility For personal use only Project Overview • 6MM Solar PV facility with 12.5GWh annual yield • Fully integrated commercial diesel-solar facility • ~8th world’s largest solar PV facility on a mine site by capacity(1) ~13-17% • Producin
Slide 37: IGO – Smart Solutions: Electric Vehicles / Electric Mines
IGO – Smart Solutions Electric Vehicles / Electric Mines For personal use only Opportunity to electrify underground mining fleet Developing roadmap towards electrification • Improved working environment • Energy savings • Reduction in ventilation requirements • Reduced carbon emissions • Less moving
Slide 38: IGO – Smart Solutions: Automation
IGO – Smart Solutions Automation For personal use only Surface remote loading • Up to five loaders capable of being operated by one operator on surface 300t - 400t/day • Utilised over shift change and blasting times when underground Average production over shift change access is restricted when oper
Slide 39: IGO – Smart Solutions: Training - Simulator
IGO – Smart Solutions Training - Simulator For personal use only Use of Simulator at Nova to improve productivity Utilisation of the Simulator at Site performance of underground activities • Training • New skills (and old habits) • Performance based measures Simulator is proven to provide • Improved
Slide 40: IGO – Smart Solutions: Drone Technology
IGO – Smart Solutions Drone Technology For personal use only Drone technology used at Nova • Conventional drone (Phantom P4) and fixed wing Bushfire Management Surveying (Quantum Trinity) Advantages of spatial data acquisition via UAV photogrammetry: • Remote access and improved safety • Efficiencie
Slide 41: IGO – Smart Solutions: Tracking System
IGO – Smart Solutions Tracking System For personal use only Real-time tracking of people and equipment underground Key benefits include • Improved safety ─ Monitoring of lone workers underground ─ Better collision avoidance ─ Enhanced accounting for personnel in emergencies • Increased productivity
Slide 42: IGO – Smart Solutions: Surface Firing
IGO – Smart Solutions Surface Firing For personal use only First underground mine in WA to implement full network firing from surface Benefits include • Safety ─ No person underground during firing ─ Digital link with personal tracking ─ Removes need for end-of-shift hook up • Reliability ─ Testing
Slide 43: IGO – Smart Solutions: Data Capture, Process and Analytics
IGO – Smart Solutions Data Capture, Process and Analytics For personal use only Integrated Mill Control • Direct import from the source – lab or field • Improved real time data and production status Integrated Mine Control • Live automated data capture ─ no lag in understanding production status ─ O
Slide 44: Nickel Sulphate
For personal use only Nickel Sulphate 44
Slide 45: Nickel Sulphate
Nickel Sulphate A critical raw material for lithium-ion batteries For personal use only Nickel sulphate is a key raw material within the cathode of modern lithium ion batteries Strong demand forecast from the lithium-ion battery industry • Rapid growth of electric vehicle market • Increasing nickel
Slide 46: The IGO Process
The IGO Process™ A disruptive process to convert nickel sulphide concentrate into nickel sulphate For personal use only High metal extraction Lower cost (1) Lower emissions(1) Lower waste(1) 1) Compared to existing alternative processes to convert nickel concentrate to nickel sulphate 46
Slide 47: Testwork Overview
Testwork Overview Extensive testwork conducted at bench and pilot scale For personal use only Flotation optimisation through reduction of S:Ni ratio to lower oxygen 1 Feed Optimisation consumption and waste precipitation Both batch and continuous autoclave testwork to identify conditions to 2 Pressu
Slide 48: POX Pilot Plant
POX Pilot Plant Continuous pilot plant testwork outcomes For personal use only Key achievements • Very high nickel and cobalt extractions • High level of sulphide oxidation • High percentage of iron precipitation in leach gives stable wastes Parameter Performance Nickel Extraction >97% Cobalt Extrac
Slide 49: Waste Optimisation and By-Products
Waste Optimisation and By-Products Reducing our footprint and unlocking locations For personal use only IGO is striving towards a zero discharge flowsheet Key focus on minimisation of waste streams, including: • Global technology review for tailings treatment • By-product production • Water reuse Fe
Slide 50: PFS Summary
PFS Summary Successful completion of extensive testwork program For personal use only Testwork Focus Outcome Comments High nickel grade concentrate produced ✓ Bench and Nova plant scale campaigns produced a high nickel grade concentrate tailored for hydrometallurgical processes (high S:Ni ratio) Hig
Slide 51: Project Location
Project Location Site selection trade-off studies For personal use only A detailed trade-off study was undertaken Power for four locations, including separate site specific studies These included: Transport • Community and environmental factors • Approvals and land acquisition Workforce • Power and
Slide 52: PFS Delivery
PFS Delivery Project status and next steps For personal use only IGO is on track to deliver the PFS by end of CY19 This will include: • Extensive testwork results • Optimum flowsheet • Preferred location in WA • Cost reduction opportunities, e.g. partner synergies, reagents, etc IGO continues to eng
Slide 53: Exploration
For personal use only Exploration 53
Slide 54: Exploration Overview
Exploration Overview A key enabler of IGO’s growth strategy For personal use only Exploration activity transitioning to high impact drilling in FY20 Belt scale land positions with the potential for significant base and precious metals discoveries Large pipeline of new targets 54
Slide 55: FY20 Exploration Budget
FY20 Exploration Budget 120% increase in planned Nova near mine exploration For personal use only FY20 Exploration & Evaluation Guidance(1) A$26M A$31M A$73M A$3M A$3M A$6M A$4M Nova Tropicana Project Evaluation West Kimberley Lake Mackay Other Greenfields & Generative 1) Amounts represent the midpo
Slide 56: Exploration Overview
Exploration Overview ~60% of budget is for drilling in FY20 For personal use only • Transition to drill testing & target definition programs, plus extensive integrated data interpretation & targeting • Big focus on Nova Near-mine seismic and MLEM target drilling FY19 FY20 23% 33% 37% Diamond/RC Dril
Slide 57: Why the Fraser Range?
For personal use only Why the Fraser Range? 57
Slide 58: Why Explore in the Albany Fraser Belt?
Why Explore in the Albany Fraser Belt? Underexplored region with high potential for discovery For personal use only • Orthomagmatic Ni-Cu deposits often Albany Fraser Belt (0.3Mt Ni metal) Thompson Belt (2.7Mt Ni metal) occur along entire belts • The Thompson, Pechenga, Raglan and Sveccofenian Belts
Slide 59: Why Explore in the Albany Fraser Belt?
Why Explore in the Albany Fraser Belt? Several mafic/ultramafic intrusions occur along the Albany Fraser Belt For personal use only • Multiple companies have reported magmatic Ni-Cu sulphides in mafic and ultramafic rocks along the entire belt. • Sulphide occurrences range from disseminated to blebb
Slide 60: Why Explore in the Albany Fraser Belt?
Why Explore in the Albany Fraser Belt? IGO believes in the Albany Fraser Belt and is positioning itself for exponential growth For personal use only September 2015 July 2018 August 2019 60
Slide 61: How to explore for Magmatic Sulphide Mineralisation
How to explore for Magmatic Sulphide Mineralisation Exploration methodologies change with the search space For personal use only • Different ideas and technologies are required to explore the whole Albany Fraser Belt • ‘Toolbox’ changes with the ‘search space’ (depth to target, cover thickness and c
Slide 62: Nova near-mine
For personal use only Nova near-mine 62
Slide 63: Nova Near Mine Strategy
Nova Near Mine Strategy Focused on discovering the next Nova For personal use only Aggressively explore 577km2 surrounding Nova Apply LT SQUID to near mine tenements to generate drill-ready results Continue testing 3D seismic and MLEM targets for fertile intrusions 63
Slide 64: FY20 Exploration Program
FY20 Exploration Program A full pipeline with multiple targets to test For personal use only 3D mine-scale model is identifying drill targets LT SQUID is generating nearby drill targets Live intrusions require more drilling AEM dataset and AC drilling continue to identify new targets 64
Slide 65: FY19 Program Overview
FY19 Program Overview Focused on target generation using geophysics and geochemistry For personal use only Key activities completed: ✓ Seismic acquisition entire mining lease ✓ Relogging project ✓ Blanket Low Temperature SQUID coverage over ML ✓ Deep diamond drilling on mining lease ✓ Intersected El
Slide 66: Drilling and relogging
Drilling and relogging Critical program to enhance long term success For personal use only Committed to maximising value from 3D seismic dataset to develop a pipeline of near-mine targets • Relogged, sampled, analysed and interpreted >41,000m of core during FY19 • Developed a Targeting Framework foc
Slide 67: 3D Seismic Program
3D Seismic Program Efficient and cost effective data collection and target generation For personal use only IGO leverages 3D seismic as a key primary exploration tool Data acquired over entire Nova mining lease • Four months of active data acquisition • ~600 line km’s of track clearing • 38,918 sour
Slide 68: 3D Seismic Program
3D Seismic Program Interpreting the 3D seismic dataset For personal use only • IGO’s 3D model has identified several drill-ready targets by mapping fault, fold and intrusion networks • The geological sections honor structural architecture, 3D seismic data, lithostratigraphy, and geochemistry 68
Slide 69: 3D Seismic Program – comparative application
3D Seismic Program – comparative application Nickel sulphide systems are usually part of a larger intrusion network For personal use only Eagle(1) Voisey’s Bay (2) (view looking east) (view looking west) 1) Source: Lundin Mining Corp. Technical Report on the Eagle Mine, dated April 26, 2017, Figure
Slide 70: 3D Seismic Program
3D Seismic Program The 3D model is revealing the location of fertile intrusions For personal use only Every hole drilled since February 2019 has hit a fertile mafic-ultamafic intrusion where predicted 70
Slide 71: Nova Near Mine Exploration
Nova Near Mine Exploration Fertile and live mafic-ultramafic intrusions identified For personal use only A D Elara (6km from Nova) • A ~5km x 2km x 500m thick M-UM intrusion comprising rocks types similar to Nova Upper Intrusion • Contains thin zones of semi-massive to disseminated Fracture-hosted m
Slide 72: Nova Near Mine Exploration
Nova Near Mine Exploration Nova dataset has delivered a controlling architecture used to prioritise targeting For personal use only Section combines: 3D seismic, core relogging, structural, geochemical and petrophysical data Identifies: Intrusive network, structural architecture, testable stratigrap
Slide 73: Regional Exploration
For personal use only Regional Exploration 73
Slide 74: FY20 Regional Exploration Program
FY20 Regional Exploration Program Focused on belt-scale drilling program For personal use only • Systematic and methodical exploration program focused on finding nickel sulphide mineralisation operating 12 months of the year • Diamond, RC and AC drilling has intersected: ─ Disseminated Ni-Cu sulphid
Slide 75: Airborne Electromagnetic Program
Airborne Electromagnetic Program Deep penetrating Spectrem Airborne Electromagnetic (AEM) surveying For personal use only • SpectremAir engaged for its proven ability to simultaneously provide better depth penetration, detect deeper ore bodies, map shallow cover and being insensitive to IP and SPM e
Slide 76: Ground Electromagnetic Program
Ground Electromagnetic Program SQUID Ground MLEM providing drill ready targets For personal use only • Four, Super-conducting Quantum Interference Devices (SQUID), are following-up Spectrem and AC targets to test for massive sulphide EM conductors • SQUIDs can detect conductors up to 1,200m in some
Slide 77: Aircore Drilling Program
Aircore Drilling Program Detecting more than just geochemical anomalies For personal use only • Aircore drilling (AC) is IGO’s workhorse; 165km of AC has been completed since 1 July 2018 • Captures depth to basement, basement geology, and geochemical anomalism • Identified mafic-ultramafic intrusive
Slide 78: RC and Diamond Drilling
RC and Diamond Drilling Extensive program over the next 12 months For personal use only • Two DDH rigs and one RC rig testing EM conductors considered most prospective for nickel sulphides along the belt • Several targets tested to date, many require follow-up after positive first pass results • New
Slide 79: Target Prioritisation
Target Prioritisation Diamond and RC drilling is prioritising EM conductors thought to be nickel sulphides For personal use only • RC drilling is consistently intersecting sulphide mineralisation – our methods are working! • Three prospects identified 2m to 14m zones of norite / gabbronorite hosting
Slide 80: Themis and Pion
Themis and Pion Gold discovered through AC drilling(1) For personal use only • Discovery made as part of air core drilling program • Gold mineralisation is hosted in the lower part of a poorly consolidated channel fill sequence that is visible in Spectrem data • Themis: 25m @ 2.42 g/t Au from 42m, i
Slide 81: Regional Exploration
Regional Exploration Further drilling at Andromeda extends known mineralisation beyond modelled EM conductor For personal use only • FY19 drilling at Andromeda extended mineralisation and identified extensions • Recent RC and DDH drilling intersected zones of 5 to 70% sulphide from ~65m, 250m up dip
Slide 82: Regional Exploration
Regional Exploration Multiple targets at various stages ready to follow up or drill For personal use only 82
Slide 83: Smart Solutions Used in Exploration
_ or @ o * Mineral Innovation Applied Geosciences 3D Seismic Artificial Intelligence a Exploration Sa ——————— = —~— 2° ————— = = ——_——— ; = SMART SOLUTIONS USED IN EXPLORATION SS
Slide 84: Sophisticated targeting
Sophisticated targeting Harnessing the best of available technology to enhance success For personal use only Spectrem and Low Temp SQUID MLEM (Spectrem Nova Deeps Targeting Tau Image) Aeromagnetics (TMI RTP 1VD Aeromagnetics) (1VD Ground Ground Gravity Gravity) (3D Seismic) Complex 3D Seismic Detail
Slide 85: Applied Geosciences
Applied Geosciences A team of specialists doing special things For personal use only • The innovative explorer, places the right people in the right job at the right time • Belt-scale tenement portfolio promotes a systematic exploration approach • Treats research like it treats exploration (fail-fas
Slide 86: Current and Future EM technology
Current and Future EM technology Searching for massive nickel sulphide deposits using the forefront of EM technology For personal use only • Tenement wide high resolution airborne EM survey coverage using SPECTREM2000 • Low and High Temperature SQUID sensors used for Albany Fraser Spectrem ground EM
Slide 87: Mineral Innovation
Mineral Innovation Unique data and knowledge to unlock new projects For personal use only • Leveraging new micro analytical techniques 1 Sample 2 Micro XRF Scan combined with classical petrographic techniques • Cost effective and efficient pathway to new targets • Moving from bulk analysis to minera
Slide 88: 3D seismic and 3D modelling
3D seismic and 3D modelling Leveraging 3D data sets to find fertile intrusions For personal use only • Using 3D seismic data to generate sophisticated geological models • Key benefits ─ Efficiently maps out prospective intrusions ─ Enhances understanding of lithostructural architecture and mineralis
Slide 89: Machine Learning
Machine Learning The “Big Data” problem; maximising value through artificial intelligence For personal use only • Huge data sets of geological, geochemical & geophysical data Albany Fraser Orogen • Machine learning can identify complex relationships & translate large data sets into knowledge >360km
Slide 90: Conclusion
For personal use only Conclusion 90
Slide 91: Concluding Comments
Concluding Comments For personal use only Delivered metal production exceeding Focused on operational excellence top end of guidance and improved performance Discovery remains key driver for Disciplined in cost management value creation 91
Slide 92: Making a Difference
For personal use only We believe in a world where people power makes amazing things happen. Where technology opens up new horizons and clean energy makes the planet a better place for every generation to come. We are bold, passionate, fearless and fun - a smarter, kinder, more innovative company. Ou
Slide 93: Appendix
For personal use only Appendix 93
Slide 94: Appendix 1: Mineral Resources
Appendix 1: Mineral Resources EOFY18 and EOCY18 For personal use only Nova Operation – end of FY18 and end of CY18 Mineral Resources FY18 CY18 JORC Source Mass Nickel Copper Cobalt Mass Nickel Copper Cobalt Class (Mt) % kt % kt % kt (Mt) % kt % kt % kt Underground Measured 11.9 2.1 256 0.90 104 0.07
Slide 95: Appendix 2: Ore Reserves
Appendix 2: Ore Reserves EOFY18 and EOCY18 For personal use only Nova Operation – end of FY18 and end of CY18 Ore Reserves FY18 CY18 JORC Source Mass Nickel Copper Cobalt Mass Nickel Copper Cobalt Class (Mt) % kt % Kt % kt (Mt) % kt % kt % kt Underground Proved 10.2 1.93 197 0.79 80 0.07 7 11.3 1.91