Resolute Mining Limited · ASX:RSG
Resolute Mining — Shareholder Meeting (November 2011)
26 slides from Resolute Mining's shareholder meeting presentation, Nov 29, 2011
Slide 1: CEO's Presentation at AGM
1 ACN 097 088 689 01 For personal use only 29 November 2011 CHIEF EXECUTIVE OFFICER’S PRESENTATION AT AGM Attached is a copy of the Chief Executive Officer’s presentation to be given at the Company’s Annual General Meeting today at 10.00 a.m. (Western Standard Time). For and on behalf of the Board G
Slide 2: Annual General Meeting
For personal use only ANNUAL GENERAL MEETING BGC CENTRE CONFERENCE ROOM 29 NOVEMBER 2011
Slide 3: Resolute Mining Limited
Resolute Mining Limited
Slide 4: A Golden Value Opportunity
A GOLDEN VALUE OPPORTUNITY For personal use only • Second largest ASX-listed gold producer by output FY12 Forecast Production 410Koz @ A$730/oz 500 • 330,000oz annual production growing to 400,000oz+ 400 300 • 5 2Moz in Reserves supports 10+ years mine life 5.2Moz 200 100 0 2011 (A) 2012 (F) 2013 (F
Slide 5: Resolute Value Add Strategy
RESOLUTE VALUE ADD STRATEGY For personal use only • Improve mechanical consistency of Syama to achieve target production of 250,000oz a year • Grow group production while reducing costs through identified optimisation and expansion projects • Unlock substantial exploration potential in Mali, Austral
Slide 6: Syama: Ramp Up
SYAMA: RAMP UP For personal use only • FY11 production 85,362oz at US$1,197/oz • Gold production increase and cash cost decrease underway − Q1 FY12: 25,958oz 25 958oz at A$794/oz − Q2 further improvement expected • Improved mechanical consistency driving production increase • Focus moving to: − More
Slide 7: Long Growth Pipeline
LONG GROWTH PIPELINE For personal use only - Syama pit expansion NEAR-TERM - Syama oxide circuit PRODUCTION - Syama grid power GROWTH - Sarsfield pit reopening - Syama satellites (Alpha (Alpha, Beta Beta, QVH QVH, and BA01) ADVANCED - Welcome Breccia EXPLORATION - Nyakafuru - Syama regional targets
Slide 8: Growth Projects
GROWTH PROJECTS For personal use only • Production Growth − Syama: oxide circuit additional ~70Koz pa, planned 1H 2014 − Ravenswood: Sarsfield reopening ~70Koz pa, planned 1H 2013 • Additional production replaces Golden Pride − Golden Pride: closure planned 1H 2013 − Scoping study to relocate Golden
Slide 9: Syama: Pit Expansion
SYAMA: PIT EXPANSION For personal use only • Expanded pit design to capture a total of 2.94Moz • Mine life extended from 6 years to 13 years • GR Engineering to complete DFS in March quarter 2012 • Ore body open at depth • Underground mine plan deferred and to be reconfigured 8
Slide 10: Syama: Oxide Circuit Expansion
SYAMA: OXIDE CIRCUIT EXPANSION For personal use only • Potential to increase Syama’s annual A21 - Quartz Vein Hill production by ~70koz by addition of oxide Oxide mineralisation over 6 km milling circuit A21/QVH 601Koz resource • Resources of 1.0Moz+ along strike north and south of main p pit Alpha/
Slide 11: Syama: Grid Power Connection
SYAMA: GRID POWER CONNECTION For personal use only • Diesel power generation currently represents ~1/3 of Syama’s cash operating costs • West African power pool interconnection with Cote d’Ivoire under construction • Interconnection expected to be operational by mid 2012 • Preliminary route between
Slide 12: Ravenswood: Sarsfield Open Pit
RAVENSWOOD: SARSFIELD OPEN PIT For personal use only • Mining ceased in early 2009 with pit designed at A$800/oz • Reserve of 1.0Moz below current pit • Feasibility study investigating potential reopening due to strong gold price • Estimated capital cost $72M to restart mining and treatment • Simple
Slide 13: Exploration Projects
EXPLORATION PROJECTS For personal use only • Highly prospective tenure which has been underexplored • Strengthening balance sheet enable renewed focus to unlock value and add exploration premium • Exploration budget for FY12 doubled to $20M • Multiple high quality targets close to existing infrastru
Slide 14: Syama North Exploration Upside
SYAMA NORTH EXPLORATION UPSIDE For personal use only • A21/Quartz Vein Hill : Infill and extension RC drilling on 50m traverses – Initial resource of 601,000oz @ 2.5g/t Au • Alpha p : Infill and extension RC drilling g on 50m traverses. – Initial resource of 101,000oz @ 1.8g/t Au • Beta : Infill and
Slide 15: Syama South Exploration Upside
SYAMA SOUTH EXPLORATION UPSIDE • Tellem : RC drilling on 50-100m For personal use only traverses shows continuous mineralisation over 4000m and open along strike - Initial resource of 165,000oz @ 2.5g/t Au • Paysans: Broad spaced (200m) aircore traverses shows continuous mineralisation over 1400m an
Slide 16: Syama Regional Exploration Upside
SYAMA REGIONAL EXPLORATION UPSIDE For personal use only • Located in prolific West African Birimian Greenstone Belt • Tenure covers ~75km of the highly prospective and under explored Syama Shear • Activelyy pursuing g other nearby y prospective tenure – new JV with Robex Resources in July • Tabakoro
Slide 17: Ravenswood Exploration
RAVENSWOOD EXPLORATION For personal use only • 3000km2 tenure over Ravenswood Goldfield • Mt Wright style targets not previously looked for • Key Projects for testing in next 12 months − Welcome Breccia − Golden Valley − Mt Success − Mt Douglas 16
Slide 18: Welcome Breccia
WELCOME BRECCIA For personal use only • New discovery (100% Resolute) made near Ravenswood plant • WED003 intersected a spectacular 113m @ 7.7g/t au from 316m • Mineralisation is plunging steeply and remains open at depth • Initial resource estimate 2.04Mt @ 3.18g/t Au for 208,000oz , with significa
Slide 19: Ravenswood Exploration
RAVENSWOOD EXPLORATION For personal use only • Four other Mt Wright style targets to be tested in the district • Golden Valley/Mt Success breccia complexes have geological similarities to Kidston and Mt Leyshon • Geophysics completed shows significant chargeability anomalyy below shallow historic dr
Slide 20: Nyakafuru
NYAKAFURU For personal use only • Total Resource of 1.0Moz+ • Located 120km NW of Golden Pride • Strong gold price warrants close assessment of future development • Drilling D illi underway d tto ttestt llarge llow grade d ttrend d and d hi high h grade reefs • Scoping S i study t d on ddevelopment
Slide 21: Cote d'Ivoire Exploration
COTE D’IVOIRE EXPLORATION For personal use only • Focus on the under explored, World- Class Birimian terrains of West Africa • ~10,000km2 of permits covering over 200km of Greenstone Belts NE of Newcrest Mining’s Bonikro Mine • Broad scale 1km x 1km multi-element sampling targeting large scale depos
Slide 22: Conservative Balance Sheet
CONSERVATIVE BALANCE SHEET For personal use only • $100M Balance Sheet Transformation by 31 Dec 2011 − Listed options expire $30M inflow − Listed convertible notes convert to shares results in $67M debt reduction • Cash flow to satisfy expected capital expenditure over next two years • Significant c
Slide 23: A Golden Value Opportunity
A GOLDEN VALUE OPPORTUNITY For personal use only • Second largest ASX-listed gold producer by output FY12 Forecast Production 410Koz @ A$730/oz 500 • 330,000oz annual production growing to 400,000oz+ 400 300 200 • 5 2Moz in Reserves supports 10+ years mine life 5.2Moz 100 0 2011 (A) 2012 (F) 2013 (F
Slide 24: Thank You / Disclaimer
THANK YOU For personal use only DISCLAIMER • This presentation includes certain statements, estimates and projections with respect to the future performances of Resolute Mining. Such statements, estimates and projections reflect various assumptions concerning anticipated results, which assumptions m
Slide 25: JORC Reserves
JORC RESERVES Gold Reserves Project Resolute Group Resolute Group For personal use only (includes stockpiles) Project Gold grade Contained Share Share Tonnes (g/t) Ounces Gold % ounces RESERVES Reserves ( Proved) Australia Mt Wright (insitu) 2 5,180,000 2.8 466,000 100% 466,000 Sarsfield (insitu) 3
Slide 26: JORC Resources
JORC RESOURCES Resolute Resolute Resolute Resolute For personal use only Gold Resources 1 Project Group Group Gold Resources 1 Project Group Group (includes stockpiles) Project Gold grade Contained Share Share Gold Tonnes (g/t) Ounces Gold % Ounces (includes stockpiles) Project grade Contained Share
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