Slide 1: Acquisition of Zimbabwe Mining Projects
For personal use only Acquisition of Zimbabwe Mining Projects July 2013 ACN 124 354 329 1 Prospect Resources
Slide 2: Disclaimer & JORC Notice
For personal use only Disclaimer & JORC Notice The information contained in this presentation or subsequently provided to any recipient of this presentation whether orally or in writing by or on behalf of Prospect Resources Ltd (“Prospect Resources or the Company”) or its respective employees, agent
Slide 3: Strategy
Strategy • Build an ASX listed, Zimbabwe Mining Company of an international scale For personal use only • Build the most competent Zimbabwe Mining Team available • Use our local team’s detailed knowledge of the Zimbabwe mining industry to target geographic regions of interest; • Target mine owners w
Slide 4: Exec Management & Board of Directors
For personal use only Exec Management & Board of Directors • Duncan (Harry) Greaves (47) Executive Director Mr Greaves is a 4th generation Zimbabwean and a resident of Zimbabwe. He holds a B.Sc (agriculture) from University of Natal. He is the founding shareholder of Farvic Consolidated Mines (Pvt)
Slide 5: Senior Management
Senior Management • Chris Rees (44) Chief Operating Officer Chris Rees is a Zimbabwean based Project For personal use only Manager and Engineer with experience of building and operating mines in the Southern African region, especially Zimbabwe. He has worked with large corporates like IAMGold, New D
Slide 6: Advisory Team
Advisory Team • Andrew Halsted (46) is a fourth generation Zimbabwean, who was educated at For personal use only Michaelhouse and returned to Zimbabwe having qualified as a Chartered Accountant in Australia. Since 1992, he has managed his family owned trading business, Halsted Brothers (Pvt) Ltd. In
Slide 7: Corporate Structure
Corporate Structure Prospect Resources Ltd For personal use only 100.0% Farvic Consolidated Mines (Pvt) Ltd Prospect Resources Limited (“Prospect UK”) Certified Zimbabwean Indigenous Company (“Farvic”) 70% 30% Hawkmoth Mining & Exploration (Pvt) Ltd Certified Zimbabwean Indigenous Company (“Hawkmoth
Slide 8: Zimbabwe Indigenization Approvals
For personal use only Zimbabwe Indigenization Approvals • Zimbabwe Investment Authority has approved the Company’s application to own a 70% equity interest in Hawkmoth (via Prospect UK) with the following conditions: – The Company funds all exploration costs and upon commencement of production, fund
Slide 9: First Acquisitions
First Acquisitions • Bushtick Project - Old Workings & Exploration For personal use only – Historic underground production of 15,000kg of gold (~470,000oz) at 5.4g/t cut-off – Mine closed due to lack of water in 1950’s – Part of the Bulawayo Greenstone Belt – Exploration target of 8Mt – 12Mt at 2.0g
Slide 10: Acquisition Terms
For personal use only Acquisition Terms • Prospect Resources Limited (Prospect UK), the Company’s 100% owned subsidiary has entered into an agreement, subject to shareholder approval, to subscribe for a 70% interest in Hawkmoth Mining & Exploration (Pvt) Limited (Hawkmoth), the material terms of whi
Slide 11: Exclusivity Agreement
For personal use only Exclusivity Agreement • Prospect Resources has entered into a conditional Exclusivity Agreement with Continental Minerals Limited (Continental Minerals), representing amongst others, Harry Greaves, Roger Tyler, Chris Rees, James Huddleston, Andrew Halsted and Zed Rusike on the
Slide 12: Location of First Acquisitions
For personal use only Location of First Acquisitions 12 Prospect Resources
Slide 13: Bushtick Project – Historic Production
Bushtick Project – Historic Production For personal use only • Historic production was from four shafts; down to 12 level ; approx 300m depth; 470,000oz Au, at 5.4 g/t cut-off, to 1950 • High cut-off grade, resulted in preferential mining of 4 high grade shoots. • Not subject to artisanal mining • T
Slide 14: Bushtick Project - Exploration Potential
For personal use only Bushtick Project - Exploration Potential • Bulawayo Greenstone Belt, SW of Bulawayo is highly prospective ground. Vein and shear hosted high grade gold deposits. • Potential open cut, along Bushtick Shear, recent grab sampling indicates 2 – 3g/t material in altered country rock
Slide 15: Bushtick Exploration Plan
For personal use only Bushtick Exploration Plan • Underground Exploration – De-water underground workings down to 4 level. – Map old workings. – Identify mineralized zones below historic cut-offs. – Commence drill programme on mineralized zones. Above Ground Exploration – Fly detailed airborne magne
Slide 16: Penhalonga Project - Background
For personal use only Penhalonga Project - Background • Historic Production – 185,000 Oz produced from 1895 – 1943 from 2 main shafts & numerous adits within talc-schist zone. • Geological Setting - “In terms of production, the host Mutare Greenstone Belt at 122kg Au/km2 is one of the richest belts
Slide 17: Penhalonga Project - Exploration
For personal use only Penhalonga Project - Exploration • Deep hole drilling by RTZ in 1962 confirmed eastward strike extent and that reefs were open down dip. • Adit Sampling by Casmyn/New Dawn in 2000 indicated high grade zones >10g/t, in old ‘60’s prospect adits. • Magnetic survey by ZMI in 2009,
Slide 18: Penhalonga Exploration Plan
For personal use only Penhalonga Exploration Plan • Finish Adit Sampling; – adits newly re-opened by artisanals. • Detailed Ground Magnetic and GPR surveys ; cross-cutting faults. • 7,500m RC targeting Penhalonga Pit & Central Hills anomalies. – 6,500m ; indicated resource ; < 50m deep oxides. – 1,0
Slide 19: Corporate Snapshot
For personal use only Corporate Snapshot Summary • ASX Code: PSC • Shares on issue: 809.6 m Assumes issue of 60m shares to Continental Minerals & the placement of 375m shares at 1.2c per share to raise A$4.5m in cash • Options (1.5c ex): 160 m Assumes issue of 80m management options • Share Placemen
Slide 20: Background information on Zimbabwean Team
Appendix Background information on Zimbabwean Team For personal use only • The Company’s Zimbabwe Team, led by Harry Greaves and including, Chris Rees, Roger Tyler, Zed Rusike, Andrew Halstead and Stuart Comline are a practical mix of operations, geology, engineering and finance personnel. • They re
Slide 21: Location of projects referred to in Appendix
Appendix Location of projects referred to in Appendix For personal use only 21 Prospect Resources
Slide 22: Farvic Mine Expansion - 2012
Appendix Farvic Mine Expansion - 2012 For personal use only • Engineering, Procurement, Construction & Operation – 20T/H Dump Recovery Plant – Hydraulic sluicing and screening – 10T/H Regrind Mill – 6 x 10 Ball mill (130KW) – 20 T/H Carousel CIP plant – 7 x 100m3 Steel tanks with mechanical agitator
Slide 23: Nicholson & Olympus Mines - 2011
Appendix Nicholson & Olympus Mines - 2011 For personal use only • Engineering, Procurement, Construction & Operation – Shaft cleaning & refurbish (3 to 6 level) - Nicholson Shaft – Shaft cleaning & refurbish (Surface to 4 level) - Olympus Shaft – Refurbish Hoist for Nicholson Shaft & new Hoist and r
Slide 24: Farvic Mine 2010
Appendix Farvic Mine 2010 For personal use only • Engineering, Procurement & Construction & Operation – 4T/H Gravity Separation – KC-CD12 Knelson & Querl Bowls. – 6T/H Tertiary Milling Plant - Deswik D250 Vertical Bead Mill (110KW VSD). – 8T/H CIP Plant Steel tank with air agitated leach & mechanica
Slide 25: Great Dyke Chrome Mine - 2009
Appendix Great Dyke Chrome Mine - 2009 For personal use only • Engineering, Procurement, Construction & Operation – Complete Greenfield Chrome sands washing Plant – treating 30-40k T/month producing 2.5-3kT/month of >50% Chromite with >2:1 Chrome:Iron & < 2% Si. – Scrubber, Spirals, Bagging & Loadin
Slide 26: Turk Mine – 2011/12
Appendix Turk Mine – 2011/12 For personal use only • Engineering & Project Management – Refurbish existing CIP Circuit 30T/H – New 500m3 leach tank – New FLSK2500 Vertical Bead Mill (750 KW Variable Speed Drive & Motor) – Dump Recovery plant 45T/H 26 Prospect Resources
Slide 27: Prospect Resources Limited contact details
For personal use only Prospect Resources Limited | ACN 124 354 329 Suite 6, 245 Churchill Ave. Subiaco WA 6008 Phone: +61 8 9217 3300 | www.prospectresources.com.au 27 Prospect Resources