Slide 1: Welcome and introduction
Good afternoon and on behalf of Gold Fields, thank you for having me here. 1
Slide 2: Forward looking statements
Here is our reference to any forward looking statements with respect to the content of this presentation. 2
Slide 3: Global operations and 2013 events in Australasia
This map shows the distribution of Gold Fields’ global operations in our core regions of South America, West Africa, South Africa & last but not least Australasia. I would like to start by talking briefly about some of the events of 2013 which contributed to shaping our global company and specifical
Slide 4: Gold Fields Australia milestones and operations
So lets look a little closer to home at Gold Fields Australia. Gold Fields has been operating in Australia since 2001. Our presence here began with the acquisition of the Agnew and St Ives Operations and we have since reached some major milestones; We have… • Produced >8Moz • Maintained mine life by
Slide 5: Exploration investment around St Ives
& 60km to the south of where we sit right now is St Ives. In order to sustain this production we recognise the critical need to explore. As such, Gold Fields is investing more than A$50M this year around our existing operations to discover new deposits. I can also disclose that we have just had appr
Slide 6: Invincible discovery and resource growth
This is the slide we presented at Diggers last year which reported the discovery of the Invincible deposit. At the time we reported a relatively modest 247koz Resource which was open in all directions. It was apparent early on that we had discovered a major mineralised system not previously tested a
Slide 7: Project history and exploration potential
I am now going to take you through a bit of the history and details of the project and the further exploration potential. 5
Slide 8: St Ives lease holding and deposit endowments
At St Ives, we have a large +1275km2 lease holding as shown by the blue outline on the map. Gold has been mined continuously from this camp for over 30 years, with in excess of 11.6 million ounces produced to date. Throughout the extensive production history and over this expanse of highly prospecti
Slide 9: Future by investing in our exploration
future by investing in our exploration. 6
Slide 10: Location of Invincible on Lake Lefroy
So where is Invincible? As you can see on this image, it is located out on the western side of lake Lefroy, 8km to the NW of the Lefroy Mill. This location has multiple advantages which are: 1. The project is limited to surface disturbance on the salt lake. 2. Waste from the pit will be used to back
Slide 11: Discovery history
I would now like to take you though the discovery history. Invincible was discovered in 2012 as part of a resurgence in exploration activity. The target was identified as a structural analogue of the Santa Ana and Bahama orebodies located 3km to the North. The Speedway Shear is offset by the Alpha I
Slide 12: Exploration timeline and permitting
So based on the success of these initial 4 holes, an immediate follow up programme commenced. By the end of 2012, forty one holes had been drilled over the project and the Maiden Inferred Resource was defined. Subsequently, an aggressive exploration programme commenced in 2013. This delivered the 0.
Slide 13: Geology of the deposit
Now for a brief rundown of the geology as illustrated on this map and box model. The local country rocks are sedimentary and dip 70 degrees to the SW. The hanging wall rocks are composed of conglomerates and sandstones of the Merougils Creek Beds, which from our drilling to date are barren and have
Slide 14: Upside in unexplored veins
orebody. The focus to date has been on the main lode system and these veins have not been adequately drilled and represent significant upside potential. The entire package has been intruded by barren mafic dykes and is overlain by a thin layer of unconsolidated lake sediments, which range from a few
Slide 15: Long section and open pit/underground resource
The orebody is characterised by shallow southerly plunging shoots. These can be seen on this long section showing the block model with the hot colours representing the better grades. With the extensive exploration works completed to date, a substantial resource has been defined. This resource has be
Slide 16: Drilling challenges and causeway access
Exploration of the deposit faced many challenges with one of the most significant being access. Throughout 2012, all drilling had been undertaken using track mounted lake based diamond rigs. At St Ives we regularly use these rigs as 24% of our tenements are located on Lake Lefroy. The delivery of th
Slide 17: Drilling programme execution
project was a daily challenge for the geological team. Scheduling and directing where equipment was to operate required close attention to ensure smooth operation. The team executed the programme safely, effectively and efficiently with over 500 holes and nearly 90km of drilling completed so far on
Slide 18: Metallurgical testwork results
As for any project, the metallurgical characteristics are essential to understand. Throughout the development of the project, 2 rounds of testwork have been completed on 19 composite samples from all ore types over the length of the deposit. This map shows the distribution and sample types collected
Slide 19: Open pit mining plan and infrastructure
Now that I have explained about the deposit and its history, I would like to explain how we are going to mine the open pit. The challenges faced by the exploration team for access are also faced by the mining fleet for infrastructure establishment. The advantage however is that the infrastructure ca
Slide 20: Mining schedule, grade and economics
Open pit mining is expected to commence later this year, with overburden stripping and infrastructure establishment and first ore is expected in Q1 2015. As shown on this map, the pit will be mined in 8 stages over a 3 year period, with the reserve delivering a mine grade of 4.1g/t. With this grade,
Slide 21: Long section and deep drilling intersections
Here, we are looking at a long section of the mineralised zone showing the resource limits and drill hole gram-metre intersections to the end of 2013. You can see the shallow plunge of the high grade shoots as mentioned previously. Concurrently with the resource drilling, we are working to test the
Slide 22: Invincible South intersections
truncates mineralisation and the open pit as shown. At the end of last year we drilled several holes targeting offset mineralisation at a prospect called Invincible South. On this long section you can see results from 2 of the holes with significant mineralised intersections. I will talk some more a
Slide 23: 22km regional corridor and geophysics
Invincible represents <10% of the 22km long regional corridor shown on this map. Gold Fields holds all of the ground along the trend and there have been less than 40 holes intersecting the shear along its length. Given the extent of the mineralisation identified to the north and the proven capacity
Slide 24: Regional and deposit scale advancement
this trend on a regional scale while advancing projects on the deposit scale. 17
Slide 25: Invincible South drilling
The high resolution geophysics assisted the targeted drilling which discovered Invincible South last year. Based on the results I mentioned a couple of slides ago, this area has been a focus for early stage exploration this year. In Q1, we drilled a 10 hole diamond programme to assess the project. M
Slide 26: Invincible South results and resource plans
first holes to be drilled in this phase of work returned 18.7m @ 12.0g/t. We expect to be able to model up the project when all results are received and if it passes our economic assessment we expect to report a resource in our 2014 Resource statement. 18
Slide 27: Regional targets Valkyrie and Heracles
As a result of the regional works completed on the trend in 2013, we have a number of targets to follow up which form a significant part of our early stage exploration activities this year. In February, Ausdrill commissioned a new lake drill rig for us to use. They now have a lake RC drill rig in th
Slide 28: Heracles result and trend potential
are extremely excited about this result and it represents significant bedrock gold 10km south of Invincible. All of these results demonstrate that we have discovered a regionally significant trend of mineralisation laterally right in our backyard. There has been very little drilling completed along
Slide 29: Conclusion
To conclude. Gold Fields is a major producer in Australia with production in the order of 1Moz per year from 4 established operations. We have an extensive land holding around our Australian operations which will provide us growth opportunities for many years to come. We are continuing to invest in
Slide 30: Free cash margin requirement
which continue to sustain our operations and meet our requirement of +15% free cash margin. 20
Slide 31: Thank you and questions
Thank you for your attention and I would now like to invite you to ask any questions. 21