Slide 1: Mining 2012 Resources Convention
For personal use only Mining 2012 Resources Convention 1 November 2012 Martin Phillips, Managing Director Bulletin Resources Limited Unit A8, 435 Roberts Rd, Subiaco WA 6008 | phone (08) 9388 6921 | fax (08) 6316 3337| www.bulletinresources.com
Slide 2: Disclaimer
Disclaimer For personal use only This document has been prepared by Bulletin Resources Ltd (ACN 144 590 858) (Bulletin or the Company). No party other than Bulletin has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or undertaki
Slide 3: The Highlights
The Highlights For personal use only Lamboo Project • High grade Probable Ore Reserve: 560,000t at 4.2g/t Au in open pits and 177,000t at 6.0g/t Au from underground for a total of 110,000 oz • 100% owned on granted mining leases free of 3rd party encumbrances • Infrastructure in place (mill, power
Slide 4: The Company
The Company For personal use only Highly capable and experienced Board of Directors Board of Directors BNR – Enterprise Value Phil Retter – Non-executive Chairman Share price (at closing 30 October 2012) $0.085/share Geologist with over 25 years involvement in Total Shares on issue 77.48 million t
Slide 5: The Strategy (April 2011)
The Strategy (April 2011) For personal use only Bulletin is close to delivering on its business strategy after only 18 months on the ground 1 Fast track Lamboo Gold Project to production Investigate development options and optimise mine plan Expedite approvals for mining and processing Recomm
Slide 6: Advancing Gold Production in the Kimberley
For personal use only Advancing Gold Production in the Kimberley The Growth Resource expansion New discoveries The Plan Acquisitions Mine Plan Underground expansion The Project Project forecast High grade resource Peer analysis Ore Reserve Infrastructure in place 6
Slide 7: High Grade Resource
High Grade Resource For personal use only Located in the extensive Halls Creek goldfield Lamboo Project Resource: • 1.45mt at 5.6g/t Au for 261,000 oz • 72% in Indicated category Golden Crown Project Resource: • 0.3mt at 3.2g/t Au for 34,000oz • potential satellite open pit operation Dominant
Slide 8: Ore Reserve
Ore Reserve For personal use only Open pit & underground Ore Reserve adjacent to processing facility Shallow Wagtail and Rowdies reserve provides immediate access to mill feed without requirement for pre-strip Underground reserve based on simple, cost effective open stoping operation - fully mec
Slide 9: Infrastructure in Place
Infrastructure in Place For personal use only Upgrade of processing facility to 200,000 tpa proposed 70 tph (550,000 tpa) crushing circuit 120,000 tpa processing facility Workshop, laboratory & offices Nicolson’s Find open pit Previous production : 92,000t at 7.71g/t Au 1.7 MVA Diesel Fired Power St
Slide 10: Advancing Gold Production in the Kimberley
For personal use only Advancing Gold Production in the Kimberley The Growth Resource expansion New discoveries The Plan Acquisitions Mine Plan Underground expansion The Project Project forecast High grade resource Peer analysis Ore Reserve Infrastructure in place 10
Slide 11: Life-of-Mine Plan
Life-of-Mine Plan For personal use only Transition to underground mining self-funded from open pit cash flow Tonnes Mined (kt/month) Rowdies First gold pour 3 months from 60 Wagtail South 50 Wagtail North mining start-up Nicolson's Find 40 Nicolson's South Nicolson's Underground Grade improves a
Slide 12: Underground Expansion
Underground Expansion For personal use only Low drill density below 200m vertical depth Extensions to underground mine plan will not require Gold resource oz /vertical m significant additional development capital 0oz 750oz 1,500oz 19000mN 19200mN 19400mN 19600mN 19800mN 19 000mN 19 200mN 19 400mN
Slide 13: Project Forecast
Project Forecast For personal use only Average annual gold production of 27,800 oz over five years Financials Unit Upfront capital requirement reduced to Annual production 27,800 oz pa over 5 years1 $20 million due to lower Plant & Infrastructure Capital $m 14 working capital (earlier ore Pre-prod
Slide 14: Project Cash Flow
Project Cash Flow For personal use only Cash flow highly leveraged to gold price, mine life extensions & increased production rate Net Present Value (pre-tax) Pre-tax $m 45 $m 1 Operating Cash Flow Capital Expenditure Cumulative Cash Flow 30 40 15 30 0 20 1550 1650 1750 1850 A$/oz Gold Price 10 Undi
Slide 15: Comparative Reserve Analysis
Comparative Reserve Analysis For personal use only Lamboo Project compares favourably with industry peers Increasing production capacity 15 Source: Company websites and investor presentations
Slide 16: Cash Cost Analysis
Cash Cost Analysis For personal use only Lamboo Project compares favourably with industry peers Increasing production capacity 16 FY12 averages stated excluding Royalties. Source: Company Quarterly Reports
Slide 17: Advancing Gold Production in the Kimberley
For personal use only Advancing Gold Production in the Kimberley The Growth Resource expansion New discoveries The Plan Acquisitions Mine Plan Underground expansion The Project Project forecast High grade resource Peer analysis Ore Reserve Infrastructure in place 17
Slide 18: Wagtail Underground Potential
Wagtail Underground Potential For personal use only Host structure linking Wagtail deposits remains untested at depth 17 800mN 18 000mN 18 200mN Wagtail South Creek Wagtail North 300mRL 7m @ 3.7g/t Au 4m @ 10.4g/t Au 4m @ 12.9g/t Au 1m @ 25.9g/t Au 4m @ 19.1g/t Au 3m @ 7.6g/t Au 6m @ 8.9g/t Au 4m @
Slide 19: Nicolson’s South Extension
Nicolson’s South Extension For personal use only Untested southern strike extension of Nicolson’s South deposit Access restrictions has left 300m strike length of host structure completely untested by drilling First pass RAB drilling planned Target Area 19
Slide 20: Lamboo Exploration Targets
Lamboo Exploration Targets For personal use only High grade discoveries continue to be made along prospective granite contact Gold bearing quartz veining identified along 5km strike length of granite contact Paddock Well - Shifty’s trend • 1km long zone of multiple, high grade quartz vein outcro
Slide 21: Lamboo Exploration Targets (cont.) – Paddock Well–Shifty’s trend
Lamboo Exploration Targets (cont.) For personal use only Paddock Well – Shifty’s trend 21
Slide 22: Lamboo Exploration Targets (cont.) – Nicolson’s-Hyena trend
Lamboo Exploration Targets (cont.) For personal use only Nicolson’s - Hyena trend 22
Slide 23: Golden Crown Acquisition
Golden Crown Acquisition For personal use only Potential high grade, open pit development 2m at 93.1g/t Au Faugh-a-Ballagh 6m at 13.6g/t Au 1m at 54.0g/t Au 0.8m at 521.1g/t Au 1m at 23.0g/t Au 2m at 14.3g/t Au 2m at 14.2g/t Au 2m at 11.8g/t Au 3m at 85.3g/t Au Recent acquisition - 100% owned Gold
Slide 24: Next Steps and Catalysts
Next Steps and Catalysts For personal use only Project finance strategy being progressed Tendering for open pit mining and equipment supply contracts Sourcing second hand equipment and buildings Expediting approvals to recommence mining Resource expansion drilling program to commence early
Slide 25: Investment and Media inquiries
For personal use only Investment and Media inquiries: Martin Phillips Managing Director Email: mphillips@bulletinresources.com Bulletin Resources Limited Unit A8, 435 Roberts Rd, Subiaco WA 6008 | phone (08) 9388 6921 | fax (08) 6316 3337| www.bulletinresources.com 25
Slide 26: Appendices
For personal use only APPENDICES 26
Slide 27: Ore Reserve Inventory
Ore Reserve Inventory For personal use only Gold Grade Contained Gold Prospect Category Tonnes (g/t Au) (oz) Nicolson’s Find Pit Open pit Probable 92,000 5.9 17,000 Nicolson’s South Pit Open pit Probable 268,000 4.4 38,000 Rowdies Pit Open pit Probable 19,000 2.0 1,000 Wagtail North Pit Open pit Pro
Slide 28: Mineral Resource Inventory
Mineral Resource Inventory For personal use only Grade Prospect Category Tonnes Ounces (g/t Au) Nicolson’s Find & South Open pit Indicated 333,000 5.5 59,000 Open pit Inferred 16,000 2.7 1,000 Total open pit 349,000 5.4 60,000 Underground Indicated 406,000 6.5 85,000 Underground Inferred 372,000 5.7
Slide 29: Mineral Resource Inventory (cont.)
Mineral Resource Inventory (cont.) For personal use only Grade Prospect Category Tonnes Ounces (g/t Au) Wagtail area Open pit Indicated 137,000 4.5 20,000 Open pit Inferred 9,000 1.7 - Total open pit 146,000 4.3 20,000 Underground Indicated 98,000 4.8 15,000 Underground Inferred 9,000 4.9 1,000 Tota
Slide 30: Competent Persons Statement
Competent Persons Statement For personal use only The information in the tables that relates to the Lamboo Project Mineral Resources is based on information compiled by Mr Ian Glacken, who is a Fellow of the AusIMM. Mr Glacken is a full time employee of Optiro Pty Ltd where he holds the title of Pri