Vault Minerals Limited · ASX:VAU
Vault Minerals — Red 5 — RIU Sydney Resources Round-up 2009
31 slides from Vault Minerals's conference presentation, May 14, 2009
Slide 1: Siana Gold Project - Philippines
For personal use only RED 5 Limited Siana Gold Project - Philippines RIU Sydney Resources Round-up 13 May 2009 RED5 Limited
Slide 2: Red 5 - at a glance
Red 5 - at a glance…. For personal use only RED – ASX (07 May): 7.5 cents Market Cap (07 May): $49.4m Issued Shares: 659.2m Cash at 31 Mar 09: A$23.9m Enterprise value US$19 (per Resource oz) Largest Shareholders: Mathews Capital 19.5% AngloGold Ashanti 10.2% R Stanley 8.0% RED5 Limited
Slide 3: Momentum increase
Momentum increase… For personal use only Last 3 months: Reserves doubled with underground resource upgrade Positive feasibility study complete, Board review in progress Environmental Compliance Certificate issued Mapawa MPSA granted – satellite Resource potential … business de-risked RED5 Li
Slide 4: Probable Ore Reserves
Probable Ore Reserves For personal use only Stockpile Open Pit Underground Total (Long term mine plan) Tonnes 0.08 3.10 3.36 6.55 Au g/t 1.33 3.42 5.83 4.6 Ag g/t 10.67 8.71 9.12 8.9 Ounces Au 3,549 341,000 630,000 975,000 Ounces Ag 28,000 870,000 986,000 1,885,000 RED5 Limited
Slide 5: Resource database
Resource database… For personal use only 88 diamond drillholes for 37,480 metres 14,600 specific gravity measurements within the Resource models (ore and waste) >15,000 geotechnical measurements 28,500 samples assayed (seven elements) RED5 Limited
Slide 6: Resource still open
Resource still open… For personal use only RED5 Limited
Slide 7: Highly prospective location
Highly prospective location For personal use only 100 million oz equivalent potential in Surigao del Norte Excellent local infrastructure Strong Community support (history of mining) Strategic land position Secure form of mining title (Mineral Production Sharing Agreement) RED5 Limited
Slide 8: Feasibility study update
Feasibility study update… For personal use only Plant and infrastructure costs updated Open pit design and costs updated In country contractors/suppliers used where possible Modified waste dump design Tailings dam detailed design Underground mine design completed - drill and blast and ro
Slide 9: Consultants to the study
Consultants to the study… For personal use only Resource estimation - Hellman & Schofield, Cube Consulting, Perth Geotechnical - Mining One, Melb, Peter O’Bryan & Associates, Perth Hydrology - Meyer Water & Environmental Solutions, Perth Open Pit mine design - RSG Global (Coffey Mining), Per
Slide 10: Site layout
Site layout For personal use only RED5 Limited
Slide 11: Project financials (pre-tax)
Project financials (pre-tax) For personal use only Base case: 750,000 tpa Gold US$800/oz Silver US$10/oz NPV > US$ 100 million IRR > 30% RED5 Limited
Slide 12: Fuel price
Fuel price… For personal use only RED5 Limited
Slide 13: Costs
Costs For personal use only CAPEX Cost to first gold reduced from September 2008 estimate (US$73 million) with decreased steel prices, fuel and EPCM costs March 2009 estimate similar but now includes working capital (US$10 million) OPEX Life of mine US$350 per ounce cash cost RED5 Limited
Slide 14: Gold recovery
Gold recovery For personal use only Gravity and CIL leach: • open pit - 85 %, 1.2 kg/t CN • underground LZN - 88 %, 2.2 kg/t CN • underground HZN - 84 %, 2.4 kg/t CN Gravity, Zn flotation, cons and tail leach: • underground HZN – 83.4 %, 2.45 kg/t CN RED5 Limited
Slide 15: Underground mining
Underground mining For personal use only Underhand cut and fill (top down) Road header in ore (more productive in soft ground than conventional drill and blast, with additional benefit of less explosive on site) Drill and blast for hard material Paste fill ground support RED5 Limited
Slide 16: Why underhand cut and fill?
Why underhand cut and fill? For personal use only Safe workplace for entry style mining High mining recoveries Low dilution Independent of rock break technique RED5 Limited
Slide 17: Underhand cut and fill
Underhand cut and fill For personal use only RED5 Limited
Slide 18: Underground design parameters
Underground design parameters For personal use only Access via a 5m by 5m, 1:7 decline in porphyry and basalt units Portal located 90 metres above final pit floor 50 tonne trucks Level spacing 40m (ramps 20m up 20m down) RED5 Limited
Slide 19: Underground design
Underground design For personal use only RED5 Limited
Slide 20: Requirements to operate
Requirements to operate… For personal use only Environmental Compliance Certificate granted Feasibility study under review by MGB In preparation: SDMP – Social Development Management Plan EPEP – Environmental Protection and Enhancement Programme FMRDP – Final rehab and decomissioning plan
Slide 21: Strong community support
Strong community support… For personal use only Clean water project RED5 Limited
Slide 22: ...through health assistance
...through health assistance For personal use only RED5 Limited
Slide 23: … welfare
… welfare For personal use only RED5 Limited
Slide 24: … education programmes
… education programmes For personal use only RED5 Limited
Slide 25: …and agricultural assistance
…and agricultural assistance For personal use only RED5 Limited
Slide 26: Implementation
Implementation For personal use only Permitting and finance 3rd Qtr 2009 Plant construction commences 4th Qtr 2009 Open pit commences 1st Qtr 2010 First gold production Dec 2010 Underground portal commences 1st Qtr 2013 Underground ore production 3rd Qtr 2013 RED5 Limited
Slide 27: Opportunities
Opportunities For personal use only Further underground extensions Mapawa satellite ore Zinc concentrate production RED5 Limited
Slide 28: MAPAWA Gold Project
MAPAWA Gold Project For personal use only Exciting milestone achieved with approval and registration of MPSA 280-2009-XIII Located 30 km north of Siana 1,482 hectares, highly prospective for gold and potentially, base metals Strengthened regional gold exploration portfolio Gold intersected
Slide 29: LSY prospect
LSY prospect For personal use only RED5 Limited
Slide 30: Summary
Summary For personal use only Technically and economically viable project 10 year operating life delivering 850,000 recovered ounces of low cost production Upside with Mapawa licence grant Community acceptance and environmentally benign Knowledgeable supportive shareholder base Financing
Slide 31: Contact details
Contact details For personal use only Level 2, 35 Ventnor Avenue West Perth, Western Australia 6005 PO Box 1911 West Perth, WA 6872 Ph: + 61 8 9322 4455 Fax: + 61 8 9481 5950 Web Site: www.red5limited.com Email: info@red5limited.com RED5 Limited