Orosur Mining Inc. · TSXV:OMI
Orosur Mining — Uruguay Mineral Exploration — FY2009 Earnings Presentation
14 slides from Orosur Mining's earnings presentation, Aug 13, 2009
Slide 1: Uruguay Mineral Exploration
Uruguay Mineral Exploration Results for the Fiscal Year Ended May 31, 2009 Outlook & Exploration Update August 13, 2009 This presentation should be read in conjunction with the announcement of Results for year ended May 31, 2009 and Management’s Discussion and Analysis of Results 1
Slide 2: Conference Call Hosts
Conference Call Hosts Tony Shearer, Chairman David Fowler, Chief Executive Officer Ignacio Salazar, Chief Financial Officer 2
Slide 3: Operations for Fiscal 2009
Operations for Fiscal 2009 • Gold production of 70,147 ounces for FY09, 12.3% below the original target of 80,000 ounces – A 22,190 ounce shortfall of high grade ore from the Arenal open pit affected production in all quarters – Half of the shortfall picked sourced from Veta Sur and Zapucay, not inc
Slide 4: Financial Performance for Fiscal 2009
Financial Performance for Fiscal 2009 • Net loss after tax: $US 14.4 million, or $US0.29 per share, including $US 2.7 million write down of exploration expenses • Operational cash flow: $US 7.0 million • Capital expenditure: $US 10.1 million in exploration and $US 5.5 million in property, plant and
Slide 5: Financial Performance for 4Q09 & FY09
Financial Performance for 4Q09 & FY09 Three Months Ended Fiscal Year Ended May 31, May 31, Summary of Results1 2009 2008 2009 2008 Operating Results Gold produced Ounces 19,353 22,911 70,147 90,668 Average cash cost US$/oz 702 540 705 413 Average price received US$/oz 841 926 841 814 Financial Resul
Slide 6: Outlook
Outlook • Production target for FY10 of 60,000 ounces. Production in 1Q10 expected to be in the range of 13,500 to 14,500 ounces – Arenal was depleted in May 2009. All ore sources other than Arenal, which compose the 2010 mine plan, produced in accordance with or above plan during the year • Average
Slide 7: Near Mine Exploration – Building Production Profile at San Gregorio Mine
Near Mine Exploration – Building Production Profile at San Gregorio Mine 1. Smaller open pit vein deposits: • Approx. 20,000 ounces defined at Polvorín, Veta Sur and Castrillón. Polvorín and Veta Sur were mined; Castrillón to be added to mine plan for future years • Discoveries at Picaflor and Peru
Slide 8: Near Mine Exploration – Building Production Profile at San Gregorio Mine
Near Mine Exploration – Building Production Profile at San Gregorio Mine 4. Underground resource along the San Gregorio trend - Arenal Deeps • Exploration drill program completed on the down plunge of the Arenal pit • Independent initial resource estimated by Golder Associates in April ’09 – 3,164,0
Slide 9: Near Mine Exploration – Building Production Profile at San Gregorio Mine
Near Mine Exploration – Building Production Profile at San Gregorio Mine 4. Underground deposits along the San Gregorio trend - Arenal Deeps • Infill and extension drilling − 10 holes completed through early August ‘09 confirmed or improved the grade Cross Section 530575 9
Slide 10: Near Mine Exploration – Building Production Profile at San Gregorio Mine
Near Mine Exploration – Building Production Profile at San Gregorio Mine 4. Underground deposit along the San Gregorio trend - Arenal Deeps • Next Steps: Activity Timing Definition Drilling July 2009 to January 2010 Resource Modeling February 2010 Bankable Feasibility Study June 2010 Commence Develo
Slide 11: San Gregorio Development
San Gregorio Development Current Base Case Four-Year Mine Plan • Anticipates 195,000 ounces of gold production • Assumes gold price of $US 850 per ounce over next 2 years, down to $US 750 longer term • Estimates average cash cost of production of $US 700 per ounce • Bulk higher cost ounces expected
Slide 12: Away from the Mine – Exploration for A New Stand Alone Gold Deposit
Away from the Mine – Exploration for A New Stand Alone Gold Deposit Exploration for a new 500,000 stand alone gold deposit within Uruguay, the major focus of growth initiatives over the past two years • Five projects first pass drill tested in fiscal 2009: Presidente Terra, Casupa, Paso de Lugo, Nue
Slide 13: Progress on the Disposal of Non-Gold Assets and LATAM Expansion
Progress on the Disposal of Non-Gold Assets and LATAM Expansion Lascano • Four offset holes drilled in 1H09 intersected hydrothermal alteration and very weak sulphide mineralisation • Given size and complexity, the project is being offered for joint venture, but a suitable farm in arrangement has no
Slide 14: Contacts
Contacts Uruguay Mineral Exploration Inc Tony Shearer, Chairman: +44 (0)20 7602 1570; tonyshearer@btinternet.com David Fowler, CEO: + 598 2 6016354; urumin@ume.com.uy Matrix Corporate Capital LLP Louis Castro, +44 (0) 203 206 7209 Tim Graham, +44 (0) 203 206 7206 Investor Relations in North America
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