Resolute Mining Limited · ASX:RSG
Resolute Mining — Euroz Securities Institutional Conference 2013
23 slides from Resolute Mining's conference presentation, Mar 5, 2013
Slide 1: CEO's Presentation at the Euroz Conference
ASX Announcement For personal use only 5 March 2013 01 CHIEF EXECUTIVE OFFICER’S PRESENTATION AT THE EUROZ CONFERENCE Attached is a copy of the Chief Executive Officer’s presentation to be given at the Euroz Securities Institutional Conference. GREG FITZGERALD Company Secretary
Slide 2: Euroz Securities Institutional Conference
For personal use only EUROZ SECURITIES INSTITUTIONAL CONFERENCE ROTTNEST ISLAND, WESTERN AUSTRALIA CHIEF EXECUTIVE OFFICER PETER SULLIVAN 5 MARCH 2013
Slide 3: A Proven Gold Producer
For personal use only A PROVEN GOLD PRODUCER One of the largest gold producers listed on ASX Operating assets across Africa and Australia FY2013 guidance of 415,000oz at A$830/oz 100% unhedged – strong leverage to gold price Internally funded Syama expansion to 270Koz pa Lightly geared balance sheet
Slide 4: Corporate Structure
CORPORATE STRUCUTRE Key Information For personal use only ASX Code RSG Shares 642.9M Last Share Price1 $1.32 Market Cap1 A$850M Daily Turnover2 3.9M shares Cash/Bullion/Inv3 A$171M Debt3 A$65M Hedging NIL Shareholders ICM 29.9% M&G 10.0% Vanguard 9.0% Vinva I.M. 5.1% 1. Current at 1 Mar 2013 2. Aver
Slide 5: A Transformational Year in FY2012
A TRANSFORMATIONAL YEAR IN FY2012 All operations performed strongly in FY2012 For personal use only 398,000ozs @ A$761/oz Reliability at Syama improved significantly Board approved a US$241M expansion of Syama Balance sheet transformed – minimal debt and strong cash, bullion and investment position
Slide 6: FY2013: Consolidating Our Position
FY2013: CONSOLIDATING OUR POSITION FY2013 guidance of 415,000oz at A$830/oz For personal use only Outstanding first half – 222,943oz at A$787/oz Half year net profit after tax up 86% to A$96m Dividend of $31 million paid to shareholders Syama expansion underway – FY2014 Golden Pride closure – Nyakaf
Slide 7: Resolute: In a Position of Strength
For personal use only RESOLUTE: IN A POSITION OF STRENGTH A consistent gold Producing gold in FY13 forecast producer since 1989 Africa since 1996/97 415Koz at A$830/oz OZ 500,000 400,000 300,000 200,000 100,000 0 6
Slide 8: Working with Our Community Partners
WORKING WITH OUR COMMUNITY PARTNERS For personal use only 7
Slide 9: Syama - A Profitable Long Life Project
SYAMA - A PROFITABLE LONG LIFE PROJECT Key Statistics For personal use only RSG Ownership 80% Commissioned 2009 Production (1H FY13) 91,460 oz Production Grade 3.5 g/t Cash Costs (1H FY13) A$831/oz Mine Life 15+ years Total Reserves 3.6 Moz Reserve Grade 2.8 g/t Total Resources 2.8 Moz Resource Grad
Slide 10: Syama Expansion Is Extremely Robust at Current Gold Price
SYAMA EXPANSION IS EXTREMELY ROBUST AT CURRENT GOLD PRICE For personal use only Major expansion approved June 2012 ‒ Expansion of open pit ‒ Establishment of oxide circuit ‒ Infrastructure including grid power connection Captures total reserves of 3.68Moz including 557Koz oxide material Produc
Slide 11: Mali – Political Situation
MALI – POLITICAL SITUATION For personal use only Military coup in March 2012 Rebels claim control of northern Mali in April 2012 Military handed power to President Traore in April 2012 Transitional government is charged with responsibility to organise elections for new president and parliame
Slide 12: Ravenswood – Stable, Long-Term Production
For personal use only RAVENSWOOD – STABLE, LONG -TERM PRODUCTION Key Statistics RSG Ownership 100% Commissioned 2004 Production (1H FY13) 69,071oz Production Grade 2.9 g/t Cash Costs (1H FY13) A$785/oz Current Mine Life 3+ years Total Reserves 1.5 Moz Reserve Grade 0.9 g/t Total Resources 0.9 Moz Re
Slide 13: Mt Wright Delivering
MT WRIGHT DELIVERING For personal use only • Ore production consistent 1.4mtpa from sub level shrinkage • Grade dilution well within expectation • Decline completed to design depth • Depth extension drilling Drill testing to the 500RL 12
Slide 14: Re-opening of Sarsfield Remains an Option
RE-OPENING OF SARSFIELD REMAINS AN OPTION Potential to extend Ravenswood For personal use only life and increase production by reopening Sarsfield pit ‒ Reserves of 1.1Moz ‒ Additional 110kozpa output ‒ Mine life extended by 9 years Feasibility Study estimated capital cost of $123M and LOM avera
Slide 15: Golden Pride – A Strong Production Record
GOLDEN PRIDE – A STRONG PRODUCTION RECORD Key Statistics For personal use only RSG Ownership 100% Commissioned 1999 Production (1H FY13) 62,412 oz Production Grade 1.8 g/t Cash Costs (1H FY13) A$710/oz Mine Life 0.5 year Total Reserves 0.1 Moz Reserve Grade 1.8 g/t Total Resources 1.4 Moz Resource G
Slide 16: Golden Pride – Rehabilitation
GOLDEN PRIDE – REHABILITATION For personal use only Closure of Golden Pride in mid 2013 after 15 years in production Rehabilitation well advanced as progressively undertaken since commencement Cost provision of ~$10m Plant options being considered 15
Slide 17: Potential to Leverage Experience in Tanzania
For personal use only POTENTIAL TO LEVERAGE EXPERIENCE IN TANZANIA Existing 1.1Moz resource located 120km NW of Golden Pride at Nyakafuru Studies underway to evaluate a future development at Nyakafuru – potential to transport GP plant Extensive RC/diamond drilling at Nyakafuru is producing goo
Slide 18: High Value Exploration Portfolio
HIGH VALUE EXPLORATION PORTFOLIO Highly prospective, underexplored tenure For personal use only spread across Mali, Cote d’Ivoire, Tanzania and Australia Strong balance sheet enables renewed exploration focus to unlock value and add exploration premium Exploration budget for FY13 US$22M Mult
Slide 19: Noble Mineral Resources Investment
NOBLE MINERAL RESOURCES INVESTMENT Resolute acquired a 19.99%1 stake in Noble and backed a A$85 million financing package in November 2012 For personal use only Noble operates the Bibiani gold mine in Ghana To date Bibiani has underperformed and not met production or cost forecasts Resolute to provi
Slide 20: Why Resolute?
WHY RESOLUTE? One of the largest gold producers listed on the ASX For personal use only Long term operating gold miner in Africa and Australia FY2013 guidance of 415,000oz at A$830/oz 100% unhedged – strong leverage to gold price Internally funded Syama expansion to 270Koz pa Lightly geared balance
Slide 21: Thank you / Disclaimer
For personal use only Thank you 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 22: JORC Reserves
For personal use only 21 JORC RESERVES
Slide 23: JORC Resources
For personal use only JORC RESOURCES Notes: 1. Mineral Resources are exclusive of Reserves – differences may occur due to rounding. 2. All Resources and Reserves are reported above 1gpt cut-off except Sarsfield above 0.4gpt cut-off and Nyakafuru above 0.5gpt cut-off. 3. Mt Wright underground Reserve
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