Slide 1: Nicolsons Update
For personal use only Nicolsons Update June 2016 ASX:PNR
Slide 2: A New Gold Producer
A New Gold Producer For personal use only • Ramping Up Production – first gold production achieved from Nicolsons in September 2015, production profile continuing to grow with head grade and throughput • Reserve Upgrade – Halls Creek Project Ore Reserve restated to a materially higher grade of 9.81g
Slide 3: Corporate Overview of Pantoro
Corporate Overview of Pantoro For personal use only Share Price Capital Structure 14 14,000 Share Price (31/5/16) 11.0cps Volume Share Price 12 12,000 Common Shares 1 548.6 million Trading Volume ('000 shares) Listed Options 49.0 million Closing Share Price (cps) 10 10,000 Other options and rights 2
Slide 4: Halls Creek Project
Halls Creek Project For personal use only • PNR owns 80% of the Halls Creek Project, which includes the Nicolsons Gold Mine, with agreement to purchase the final 20% • First production of gold achieved in September 2015. Continuing to ramp-up • High Grade Reserve accessed via portal from an existing
Slide 5: Nicolsons Consolidation
Nicolsons Consolidation For personal use only • Bulletin Resources Ltd (BNR) has agreed to sell its 20% interest in the Halls Creek Project to PNR for: – 130 million fully paid ordinary PNR shares; – PNR assuming Bulletin’s share of the Nicolsons gold loan facility; and – PNR assuming 50% of Bulleti
Slide 6: Nicolsons: Ramp-Up Progressing
Nicolsons: Ramp-Up Progressing For personal use only • Project performance during FY2016 Latest Quarter (Q3) Physical Summary Units Q1 Q2 Q3 Jan-16 Feb-16 Mar-16 ramp-up has been good UG Ore Mined t 8,270 17,217 22,792 7,091 7,159 8,542 • The mine is operating UG Grade Mined g/t 4.70 7.53 6.58 7.32
Slide 7: Project Expansion Underway
Project Expansion Underway For personal use only Pantoro is progressing a number of exciting growth initiatives: 1 1 Project Consolidation Acquiring the balancing 20% of the project Open pit mining to commence at Rowdies and Wagtail in the near term, 2 2 Add Open Pit Feed further exploration for add
Slide 8: Mineral Resource Upgrade (May 2016)
Mineral Resource Upgrade (May 2016) For personal use only • Resource estimate of 719,914 tonnes at 7.41g/t Au for 171,591 ounces • Mineral Resource is a 91% increase to the original Mineral Resource • Changes include: – Mother Lode Resource – Remodelling developed zone – Mining Depletion Halls Creek
Slide 9: Ore Reserve Upgrade (May 2016)
Ore Reserve Upgrade (May 2016) For personal use only Total Halls Creek Project Reserve (May 2016) • Significant Reserve upgrade Halls Creek Project Proven Probable Total Ore Reserve completed in May 2016 Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Nicolsons 93,864 10.38 31,327 325,03
Slide 10: Rowdies and Wagtail: A Repeat of Nicolsons?
Rowdies and Wagtail: A Repeat of Nicolsons? For personal use only • Only 1-2 km south of Nicolsons • Reserve 96.5kt @ 5.55g/t for 17,219 Oz recovered • 9 month life with positive cashflow from month 2. Maximum cash out $0.5m • Tendering of works underway • Permitting activities underway • Target com
Slide 11: Rowdies and Wagtail: Latest Results
Rowdies and Wagtail: Latest Results For personal use only • Rowdies and Wagtail continue to provide high grade results • Open pit mining to commence in 2H 2016 11
Slide 12: Impact of Increasing Grade and Throughput
Impact of Increasing Grade and Throughput For personal use only • Plant is currently operating well, has 90,000 Grade of re- achieved a run rate of 150ktpa modelled zone of Reserve 80,000 Annual Production @ 95% Recovery (ounces) • Constrained by ore feed during the ramp- up phase 70,000 • Plant is
Slide 13: Resource Open In All Directions
Resource Open In All Directions New Drilling Produces Very High Grades For personal use only 12m @ 13.6 g/t 2m @ 53.7 g/t 6m @ 4.5 g/t 8m @ 5.8 g/t 3m @ 8.7 g/t 5.9m @ 18 g/t 2m @ 6.8 g/t 2m @ 5.8 g/t 5m @ 15.5 g/t 2m @ 6.7 g/t 5m @ 7.4 g/t • New diamond drill holes continue to return extremely high
Slide 14: Extensions to Nicolsons Orebody
Extensions to Nicolsons Orebody For personal use only • There is significant potential for extensions down dip and along strike from Nicolsons Nicolsons Resource from South to North Nicolsons Resource from East to West South North West East 14
Slide 15: Archer Fault Exploration
Archer Fault Exploration For personal use only UNTESTED Northern • Underground development Archer Fault Anderson Lode Repeats? and drilling has defined the Archer Fault • Spatial control on mineralisation Hall Lode UNTESTED Hall Lode Repeat? • Strong zone mapped in Wagtail pits Rowdies Pit • Effecti
Slide 16: Regional Exploration Opportunities
Regional Exploration Opportunities For personal use only • Nicolsons Plant is the only gold processing facility within 300km • The region has been subject of very limited exploration. Rowdies/Wagtail discovered in mid-1980’s, Nicolsons discovered 1995. • Pantoro is developing a pipeline of projects,
Slide 17: Summary
Summary For personal use only • High Grade Gold production in WA • Strong leverage to the AUD gold price • Excellent management team and board • Ramp-up performance has been strong • Significant growth opportunities being progressed: – Project consolidation underway: to complete in coming months – M
Slide 18: Disclaimer & Competent Person's Statement
Disclaimer & Competent Person’s Statement For personal use only General Disclaimer • This presentation has been prepared by Pantoro Limited (“Pantoro” or the “Company”). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Comp