Ora Banda Mining Ltd. · ASX:OBM
Ora Banda Mining — Shareholder Meeting (June 2019)
37 slides from Ora Banda Mining's shareholder meeting presentation, Jun 7, 2019
Slide 1: A Bright New Dawn
For personal use only A BRIGHT NEW DAWN Managing Director’s General Meeting Presentation 7 June 2019 1
Slide 2: Important Notice
IMPORTANT NOTICE No reliance: This presentation is a document that has been prepared by Eastern Goldfields Limited, to be re-named Ora Banda Mining Limited (“Company”, “OBM” or “Ora Banda”) for the purpose of providing a company and technical overview to interested investors. None of the Company, no
Slide 3: Important Notice
IMPORTANT NOTICE New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (New Zealand) (the FMC Act). The New Shares are not being offered or sold in New Zealand (or allotted with a view to being o
Slide 4: A New Dawn
A NEW DAWN • A team of supportive stakeholders – comprising creditors, shareholders and new Board – have set a strategy to provide a clean, de- For personal use only risked re-start for Eastern Goldfields Ltd (to be renamed Ora Banda Mining Ltd (“Ora Banda”, “OBM” or “Company)). A New Dawn. • Ora Ba
Slide 5: Experienced New Board & Management
EXPERIENCED NEW BOARD & MANAGEMENT Board of Directors For personal use only • Corporate lawyer with over 40 years’ experience, including, at various times, the roles of Partner, Managing Partner and Head of Office (Perth) and National Chair Peter Mansell • Currently Non-executive Chairman of Energy
Slide 6: What Have We Been Doing?
For personal use only WHAT HAVE WE BEEN DOING? 6 6
Slide 7: All Creditor Claims Extinguished
ALL CREDITOR CLAIMS EXTINGUISHED • In February 2019, creditors voted in favour of a Deed of Company Arrangement (“DOCA”) proposed by the Company’s major For personal use only secured creditor and key financier, Hawke’s Point Holdings I Limited – Ferrier Hodgson acting as Administrators from November
Slide 8: Capital Raising
CAPITAL RAISING • On 30 April 2019 a recapitalisation plan involving a Capital Raising for a minimum of $30 million and maximum of $40 million was For personal use only announced. Such a Capital Raising would leave Ora Banda debt-free and well-funded to execute its revised corporate strategy ▪ Capit
Slide 9: Revised Capital Structure & Valuation
REVISED CAPITAL STRUCTURE & VALUATION • The changes associated with the DOCA and the proposed capital raising materially re-shape the capital For personal use only structure of the Company, as well as its valuation. The below assumes $35 million Capital Raising $35 million Capital Raising Opening En
Slide 10: 18 Month Budget to Re-rate Ora Banda
18 MONTH BUDGET TO RE-RATE ORA BANDA • Detailed budget has been prepared to 18 Month Budget (June 2019 to December 2020) For personal use only target robust Resources & Reserves to 40 Value (A$ millions) generate strong mine plan for DFS 35 • $20m in activity spend over 18 months 30 15.0 to December
Slide 11: What Does the Future Hold?
For personal use only WHAT DOES THE FUTURE HOLD? 11 11
Slide 12: Fast, Low-Cost Re-start with Davyhurst Plant
FAST, LOW-COST RE-START WITH DAVYHURST PLANT • Significant 1.2Mtpa Davyhurst For personal use only 1.2Mtpa Davyhurst Processing Plant Processing Plant in place • MACA Interquip estimate $15m capex to fully refurbish plant (PFS level estimate) (+/- 25%) • Ora Banda to investigate options to reduce th
Slide 13: Existing Infrastructure in Place
EXISTING INFRASTRUCTURE IN PLACE • Significant infrastructure in For personal use only Tailings Storage Facility Underground Mine Development Mains Power to Site place facilitates near term production with low capex • Not shown here: – Admin buildings – Workshops – Airstrip – Large bore field Extens
Slide 14: Large & Prospective Tenure
LARGE & PROSPECTIVE TENURE • Large scale project, covering 200 strike kilometres of highly For personal use only prospective greenstone belt • Project located 120km NW of Kalgoorlie • Landholding of 1,336km2, comprising 112 tenements – Strong project pipeline from grass roots through to near mine •
Slide 15: High Grade Reserve & Resource
HIGH GRADE RESERVE & RESOURCE For personal use only MINERAL RESOURCE TABLE* • 23 individual deposits in Resources, and only two of these deposits in Reserve PROJECT MEASURED INDICATED INFERRED TOTAL MATERIAL 23 & 2 • Potential to increase Resources and (‘000t) (g/t Au) ('000t) (g/t Au) ('000t) (g/t
Slide 16: Mine Development Program
For personal use only MINE DEVELOPMENT PROGRAM 16 16
Slide 17: Key Deposit Summary
KEY DEPOSIT SUMMARY Deposit Target Distance Current JORC Resource* Proposed Proposed Proposed Total Budget For personal use only to Plant Drill Metres Drill Cost Study Cost ($’000) ($’000) ($’000) Riverina OP 48km 2.6Mt @ 2.5g/t for 205koz 13,800m $2,874 $601 $3,475 Waihi OP & UG 3km 914Kt @ 2.4g/t
Slide 18: Riverina
1 RIVERINA Mine Development Overview For personal use only Priority development target with significant open pit and underground potential. Near term production opportunity, and only 48km by road from Davyhurst plant Riverina deposits host three significant lodes Potential Resources Exploration Exis
Slide 19: Riverina (Main Lode)
1 RIVERINA (MAIN LODE) Mine Development For personal use only • Primary focus is on resource upgrades & expanding open pit reserve • Ongoing work looking at expanding potential underground resource targets 19 * Refer to ASX announcement dated 17 April 2018, and for further drilling details refer EGS
Slide 20: Riverina (Murchison & Reggie Lodes)
1 RIVERINA (MURCHISON & REGGIE LODES) Mine Development For personal use only Murchison Lode Reggie Lode * Refer to ASX announcement dated 17 April 2018, and for further drilling details refer EGS website; Project Overview www.easterngoldfields.com.au 20
Slide 21: Waihi
2 WAIHI Mine Development Overview For personal use only Priority exploration target with both open pit and high grade underground potential. Near term production opportunity. Only 3km from Davyhurst plant Waihi deposits host three significant lodes Resources Existing • Waihi Main, Homeward Bound & G
Slide 22: Waihi (Main Lode)
2 WAIHI (MAIN LODE) Mine Development For personal use only 22 * Refer to ASX announcement dated 17 April 2018, and for further drilling details refer EGS website; Project Overview www.easterngoldfields.com.au
Slide 23: Waihi (Homeward Bound & Golden Pole)
2 WAIHI (HOMEWARD BOUND & GOLDEN POLE) Mine Development For personal use only • Golden Pole produced 81kt @29.6g/t for 77koz** (between 1900 and 1939) • There is no drilling down plunge, and ore remains in hanging wall of stope • Golden Pole historically mined to a depth of 190m below surface (275mR
Slide 24: Siberia
3 SIBERIA Mine Development For personal use only Overview Sand King and Missouri present open pit cut-back mining opportunities located only 37km from Davyhurst Plant. Revised mine evaluation works targeting higher margin / higher grade ore tonnes • Resources Resource of 4.8Mt @ 3.2g/t for 498koz* E
Slide 25: Callion
4 CALLION Mine Development For personal use only Priority exploration target with open pit and high grade Overview underground potential Prospective as a high grade underground mining opportunity, only 14km from Davyhurst plant • Resources One main lode at Callion Existing • Existing Resource of 169
Slide 26: Golden Eagle
5 GOLDEN EAGLE Mine Development For personal use only Overview Advanced development opportunity ~2 km from Davyhurst Plant. Underground mine developed to 150m vertical depth. Significant potential for extensions to the Resource at depth Potential Resources • The North & Central Shoot have an Explora
Slide 27: Exploration Pipeline
For personal use only EXPLORATION PIPELINE 27 27
Slide 28: Very Prospective Exploration
VERY PROSPECTIVE EXPLORATION Exploration For personal use only Large landholding covering 1,336km2 and many kms of prospective strike Tenement consolidation occurred in 2007, but no coherent exploration effort undertaken yet Of the 48,000 holes in the database, fewer than 600 are drilled deeper than
Slide 29: High Order Prospects to Be Tested
HIGH ORDER PROSPECTS TO BE TESTED Exploration Mulline Trend • Prospective for Lady Ida Trend • Prospective for For personal use only numerous open numerous open targets targets • Well defined but • Well defined but poorly tested poorly tested advanced prospect mineralised trend scale gold • Signific
Slide 30: Limited Follow-up to Prior Results
LIMITED FOLLOW-UP TO PRIOR RESULTS Exploration South Siberia • Two newly defined For personal use only (2016) large scale trends – untested by drilling 71 surface samples assaying +1.0g/t, with • Auger drilling utilised to 71 target gold enriched no RC /Diamond drilling within 200m calereous soil ho
Slide 31: Investment Highlights
For personal use only INVESTMENT HIGHLIGHTS 31 31
Slide 32: Strong Newsflow & Multiple Catalysts
STRONG NEWSFLOW & MULTIPLE CATALYSTS For personal use only Key Workstreams Q3 CY19 Q4 CY19 Q1 CY20 Q2 CY20 Q3 CY20 Q4 CY20 Q1 CY21 Drilling 1. Riverina Estimation/ Approvals ✓ Exploration newsflow to Drilling culminate in multiple 2. Waihi Resources & Reserves Estimation / Approvals ✓ being updated
Slide 33: Investment Summary
INVESTMENT SUMMARY For personal use only 1. Existing Processing Hub (@ 1.2Mtpa) 2. Large & Prospective Landholding (1,336km2) 3. Known High Grade Resources 4. Tier 1 Gold Mining Jurisdiction 5. Experienced New Resources Board 6. Strong Balance Sheet & Well Capitalised 7. Targeting Near Term Producti
Slide 34: Appendix: Additional Slides
For personal use only APPENDIX: ADDITIONAL SLIDES 34 34
Slide 35: Historical Exploration Results
HISTORICAL EXPLORATION RESULTS Date Announcement Date Announcement For personal use only 28-Jun-18 Strong Underground Drilling Results From Golden Eagle – Central Shoot 15-Dec-16 Sand King Grades Strengthen Siberia Mining Operations 14-Jun-18 Regional Exploration Update 15-Dec-16 Missouri Deposit Mi
Slide 36: Mineral Resources & Ore Reserves
MINERAL RESOURCES & ORE RESERVES MEASURED INDICATED INFERRED TOTAL MATERIAL PROVEN PROBABLE TOTAL MATERIAL For personal use only MINERAL RESOURCES ORE RESERVES ('000t) (g/t Au) ('000t) (g/t Au) ('000t) (g/t Au) ('000t) (g/t Au) ('000oz.) ('000t) (g/t Au) ('000t) (g/t Au) ('000t) (g/t Au) ('000oz.) G
Slide 37: David Quinlivan, Managing Director
For personal use only David Quinlivan Managing Director Email: David.Quinlivan@orabanda.com.au Phone: 08 6241 1866 37