Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Shareholder Meeting (November 2013)
27 slides from Middle Island Resources's shareholder meeting presentation, Nov 29, 2013
Slide 1: Exploring Golden Frontiers – AGM Presentation
For personal use only Exploring Golden Frontiers Middle Island Resources AGM Presentation 29 November 2013
Slide 2: Disclaimer Notice and Competent Person’s Statement
Disclaimer Notice and Competent Person’s Statement For personal use only Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited (“MDI”) nor do
Slide 3: Capital Structure
Capital Structure ASX Code: MDI For personal use only Shares on Issue 125m Unlisted Options 18.5m Number of Shareholders ~700 Top 20 Shareholders ~63% Newmont ~10% Institutions ~30% Directors ~21% Cash (30/09/13) A$4.03m Market Cap (at A$0.055) A$6.87m 4 4
Slide 4: Board and Management Team
Board and Management Team For personal use only • Retired Solicitor • Corporate and commercial mining industry advice since Peter Thomas 1980 • Served on the boards of various listed companies since the 1980s (Non-Executive Chairman) • Founding Chairman of Sandfire Resources NL • Currently Chairman
Slide 5: Corporate Strategy
Corporate Strategy For personal use only • Gold. • West Africa. • Minimum +1Moz ‘stand-alone’ resource base. • Self-sustaining gold production & cash flow. • Leverage off management’s 24 years local experience & contacts. • Jurisdictions with acceptable risk profile. • Jurisdictions with exposure to
Slide 6: Projects
Projects For personal use only • 3 West African countries (combined area of ~4,211km2) • Seeking to acquire majority interest in the Samira Hill gold mine & mill - Niger. • 70-100% interest in surrounding exploration permits comprising the Sirba Project – Niger (1,942km2) • 100% of Reo Project – Bur
Slide 7: Sirba Project (Niger) - Overview
Sirba Project (Niger) - Overview For personal use only • Consolidation of Sirba greenstone belt around the Samira Hill gold operation. • 70-100% interest in a further 7 permits covering 1,942km2 of under-explored Birimian greenstones. • Samira Hill processing plant centrally located. 8 8
Slide 8: Sirba Project – Samira Hill Acquisition
Sirba Project – Samira Hill Acquisition For personal use only • Successful A$5M conditional placement, predominantly to existing shareholders, completed in September 2013. • HOA with SEMAFO expired end September, as approvals and consents required from Niger Government not forthcoming. • Government
Slide 9: Sirba Project – Samira Hill Acquisition
Sirba Project – Samira Hill Acquisition For personal use only • Seeking to purchase a majority interest in the Samira Hill gold mine, via the acquisition of all the shares in AGMDC (a wholly-owned, indirect subsidiary of SEMAFO Inc.), which owns an 80% interest in Société des Mines du Liptako (SML)
Slide 10: Samira Hill – Assets & Production
Samira Hill – Assets & Production For personal use only • 2Mtpa oxide CIL processing facility, grid power & 6MW power station, tailings dam, 4ML process water reservoir, ancillary mobile fleet, mill spares, consumables, workshops, warehouses, 200 man camp & airstrip. • 1.35Moz in reserves and resour
Slide 11: Samira Hill - Tala Tonde Deposit
Samira Hill - Tala Tonde Deposit For personal use only • Inferred Resource of 2.6Mt at 1.89g/t Au (157,000oz). • 15km from Samira Hill process plant, 5km on existing haul road. • Priority target for infill drilling. • Represents priority, higher grade production & revenue opportunity. • Abundant exp
Slide 12: Sirba Project - Tialkam South Prospect
Sirba Project - Tialkam South Prospect For personal use only • Represents a significant resource opportunity. • 12km from Samira Hill processing plant. 13 13
Slide 13: Sirba Project - Tialkam South Prospect
Sirba Project - Tialkam South Prospect For personal use only • Initial 4,314m RC resource drilling program completed. • Exceptional maiden drill results include:- 21m at 4.89g/t Au 19m at 4.16g/t Au 17m at 3.05g/t Au 12m at 4.34g/t Au 15m at 2.30g/t Au 13m at 2.73g/t Au • Initial strike
Slide 14: Sirba Project - Tialkam South Prospect
Sirba Project - Tialkam South Prospect For personal use only • Indicated and Inferred Resource of 2.02Mt at 1.82g/t Au for 117,300oz gold. • Indicative recoveries of 95% and 78% from oxide and transitional mineralisation respectively. • Represents priority, higher grade production & revenue opportun
Slide 15: Sirba Project – Sefa Nangue & Deba
Sirba Project – Sefa Nangue & Deba For personal use only • Sefa Nangue exploration target 2-3Mt at 1.5-2.5g/t (150,000oz - 200,000oz gold). • Re-estimated from historic JICA RC drilling. • Series of large, parallel quartz veins over a 2.2km width. • Plan to redrill as funds permit. • ~25km direct (~
Slide 16: Sirba Project - Kimba Prospect
Sirba Project - Kimba Prospect For personal use only • Greenfields discovery in the Nassilé permit. • No artisanal workings or surface geochemical expression. • 10km long, high tenor (to 3.1g/t Au) auger anomaly, with multiple results >0.5g/t (500ppb) Au. • Veneered by 7-9m of alluvial cover. • Thre
Slide 17: Reo Project (Burkina Faso) - Overview
Reo Project (Burkina Faso) - Overview For personal use only • 7 permits covering 1,166km2. • 150km west of Ouagadougou. • Excellent access and infrastructure. • Proximal to new gold operations (Mana, Bissa). • 50km long shear zone provides focus for exploration. 18 18
Slide 18: Reo Project – Geochemical Auger Drilling
Reo Project – Geochemical Auger Drilling For personal use only • 69,528m (9,341 holes) geochemical auger drilling completed. • Identified, refined and prioritised all prospects within Reo Project. • Morley, K4/K5 & Samba areas confirmed as significant targets. 19 19
Slide 19: Reo Project - K4/K5 Prospect
Reo Project - K4/K5 Prospect For personal use only • 6km diameter composite anomaly. • 7km long coincident gold- arsenic-potassium anomaly along SE margin - Madi Shear. • Veneered by 4m of transported laterite cover. • 60m deep oxide profile. • Extensive, zoned alteration system. 20 20
Slide 20: Reo Project - K4/K5 Prospect
Reo Project - K4/K5 Prospect For personal use only • RAB, RC & diamond drilling programs completed. • More significant intersections include:- 18m at 2.51g/t 4m at 16.2g/t 4m at 14.0g/t 12m at 4.99g/t 12m at 4.11g/t 4m at 12.2g/t 36m at 1.25g/t 16m at 2.66g/t 16m at 1.95g/t 13m a
Slide 21: Reo Project - K4/K5 Prospect
Reo Project - K4/K5 Prospect For personal use only • Significant resource opportunity. • 2.5km long, open-ended mineralised zone - Madi Shear. • Strikes ENE & dips moderately to SSE. • Plus 4 higher grade satellite targets within 4km radius. • Indicative gold recoveries of 93%, 97% and 95% for oxide
Slide 22: Reo Project - Morley Prospect
Reo Project - Morley Prospect For personal use only • Two, broad, high grade east-west trending lodes that dip moderately north. • Numerous significant trench & drill results defined to date:- - 34m at 16.4g/t Au - 10.6m at 17.4g/t Au - 39m at 2.62g/t Au - 10m at 9.63g/t Au - 38m at 2.51g/t Au - 11m
Slide 23: Nuon River Project (Liberia) - Overview
Nuon River Project (Liberia) - Overview For personal use only • 100% interest in 5 permits covering 1,135km2. • BLEG stream sediment sampling & airborne magnetic surveys completed over whole project area. • 8 priority gold anomalies defined. • Mambo & Middle East prospects most significant. • Probab
Slide 24: Community Development
Community Development For personal use only • Essential to build political & social capital from the outset. • Up to 5% of annual exploration budget dedicated to community development programs & projects. • 11 projects completed or underway in all three jurisdictions. 25 25
Slide 25: 2013-14 Exploration & Feasibility Priorities
2013-14 Exploration & Feasibility Priorities For personal use only • Samira Hill (Niger) – Tala Tondé (infill and extension RC drilling). – Boulon Jounga (RC extension drilling). • Sirba Project (Niger) − Tialkam South (infill RC, feasibility studies). − Sefa Nangue (RC drilling, metallurgy, studies
Slide 26: Conclusions
Conclusions For personal use only • Potential near-term cash flow from Samira Hill (~50,000oz pa, increasing to ~80,000oz pa). • Highly experienced West African team. • Capital structure intact. • ~A$4M cash; no debt. • Newmont as a cornerstone corporate shareholder (10.15%). • Major international i
Slide 27: Thank You & Questions
For personal use only Unit 2, 2 Richardson Street West Perth Western Australia, 6005 Thank You & Questions Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
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