Resolute Mining Limited · ASX:RSG
Resolute Mining — Denver Gold Forum 2005
28 slides from Resolute Mining's conference presentation, 2005
Slide 1: Resolute Mining Limited – Denver Gold Forum
RESOLUTE MINING LIMITED www.resolute-Itd.com.au DENVER GOLD
Slide 2: Outline
OUTLINE ¾ Overview ¾ Summary of 2005 Results ¾ Outlook for Operations ¾ Update on Development & Exploration ¾ Uranium
Slide 3: Growing Gold Producer
GROWING GOLD PRODUCER ¾ Experienced African/Australian Gold Producer ¾ Reserves 2.8m ozs, Total Resources 10.0m ozs ¾ Producing 300,000+ ozs pa ¾ Two Operations ¾ Significant Development Project ¾ Focused Exploration
Slide 4: Project Pipeline
PRO) ECT PIPELINE Finance Discovery
Slide 5: Corporate Summary
CORPORATE SUMMARY Capitalisation Board of Directors Issued Shares: 228.3 million Peter Huston – Non Exec Ch Unlisted Options: 4.2 million Peter Sullivan - MD 6 mth Price Range: A$1.25 - $0.85 Tom Ford – Non Exec Avg Monthly T/O: 9.7 million Bill Price – Non Exec Major Shareholders
Slide 6: Financial Results
FINANCIAL RESULTS (Year to 30 June 2005) ¾ 315,388 ozs Produced @ Cash Cost US$325/oz ¾ Profit after Tax: US$10.6m (A$13.9m) ¾ Cash/Bullion: US$29.4 m (A$38.7m) ¾ Total Debt: US$22.9m (A$30.2) ¾ Net Assets: US$126m (A$166m) ¾ No Dividend
Slide 7: Golden Pride
RESOLUTE MINING LIMITED
Slide 8: Golden Pride
GOLDEN PRIDE ¾ 149,886 ozs @ Cash Cost US$269/oz ¾ Throughput 2.8 mtpa, Grade 1.6 g/t Au ¾ Grade Improvement Later This Year After Cutback at Western End Completed ¾ Mine Life of 3+ Years ¾ Production Level ~180,000 ozs @ ~US$220/oz
Slide 9: Golden Pride Near Mine Exploration
GOLDEN PRIDE NEAR MINE EXPLORATION
Slide 10: Ravenswood
RESOLUTE MINING LIMITED
Slide 11: Ravenswood
RAVENSWOOD ¾ 165,522 ozs @ Cash Cost US$375/oz ¾ Throughput 5.5 mtpa, Grade 1.1 g/t Au ¾ Open Pit Feed – Sarsfield ¾ Underground Feed – Nolans North ¾ Mine Life of 4 Years ¾ Production Level ~180,000 oz pa @ ~US$325/oz
Slide 12: Ravenswood
RAVENSWOOD ¾ Cost and Efficiency Drive Completed with 25% Cost Per Tonne Reduction ¾ Improving Business Plan for Operation ¾ Focus on New Feed Sources • Low Grade Screening • Mt Wright ¾ Extend Mine Life
Slide 13: Ravenswood Low Grade Screening
RAVENSWOOD LOW GRADE SCREENING ¾ Crush and Screen Process • Reject 80% of Crusher Feed • Improve Grade 250% ¾ Low Grade 0.4 – 0.7g/t ¾ 20mt Available from Pit and Stockpiles ¾ Process ~4mtpa of Low Grade
Slide 14: Mt Wright Development
MT WRIGHT DEVELOPMENT ¾ Located 15km from Ravenswood ¾ Total Resources of 970,000 ozs ¾ Bulk Scale Underground Operation, ~1.0mtpa ¾ Significant Impact on Ravenswood Mine Plan
Slide 15: Syama Development
» SYAMA DEVELOPMENT Bamako e
Slide 16: Syama
SYAMA ¾ Resolute 80%, Govt of Mali 20% ¾ Care and Maintenance Since Early 2001 ¾ Significant and Robust Resource – 6.4m oz @ 3g/t ¾ Potential for 10+ Year Operation ¾ Positive Feasibility Completed March 2005
Slide 17: Syama Metallurgy
SYAMA METALLURGY Issues - Carbonaceous - Refractory BHP Design Randgold Design Resolute Design Whole of Ore Roast Whole of Ore Roast Concentrate Roast Carbonate Host Rock Added Concentrate Carbonate for SO2 for SO2 Capture Feed Capture Dry SAG Milling Carbonate Host Rock Wet Millin
Slide 18: Syama Economics
SYAMA ECONOMICS ¾ Reserve 13.6 mt @ 4 g/t, 1.8 m ozs ¾ Throughput 2.4 mtpa, 87.7% recovery ¾ Production 250,000 - 270,000 ozs pa ¾ Average Cash Cost US$291/oz ¾ Capex US$82.0 million ¾ Net Cash Return US$124.3 million ¾ IRR 18.4% ¾ Design and Construct 18 months
Slide 19: Syama Inclusion of Underground Resource
SYAMA INCLUSION OF UNDERGROUND RESOURCE Long Projection (Looking West) Showing +3g/t Ore Outline & 2004 Drilling
Slide 20: Syama Improvement Opportunities
SYAMA IMPROVEMENT OPPORTUNITIES ¾ Royalty and Fiscal Terms ¾ Power Costs ¾ Hedging ¾ Financing Package
Slide 21: Exploration
EXPLORATION ¾ Increased Commitment to Exploration ¾ Key to Adding Value at Existing Assets ¾ Budget for 2006 – US$10m ¾ Expenditures Primarily • Tanzania • Ravenswood • Mali • Ghana
Slide 22: Tanzania Regional Exploration
TANZANIA REGIONAL EXPLORATION Greenstone Belt
Slide 23: Ravenswood Exploration
RAVENSWOOD EXPLORATION Location and Tenure
Slide 24: Syama Exploration
SYAMA EXPLORATION Location, Geology, Tenure & Prospects
Slide 25: Uranium
110° 4 115° 120° 4 125° BEATRICE SOUTH 33%) T T 2 yg 8 8 e : Mt, GILRUTH (33.33%) BIGRLY! | (41.71%) ——— MALAWIRI (47.96%) Approx. 1000km (47.96%) - Resolute Interest 150° — 158 — 145° VALHALLA
Slide 26: Uranium – Valhalla Cross Section
URANIUM © CROSS SECTION 40420 N Ss Z SURFACE z= OmRL | incl.13.0m | 0.90 1.99 9.0m | 0.90 1.99 i | 44.3m | 0.75 1.65 -100mRL —} | incl.9m_| 0.54 1.19 MINERALISED ZONE i ; 10.3m_|_ 2.39 | 5.26 = = 933m 531 -200mRL —| incl.13.6m B 16.0m| 3.17 | 7.00 19.0m) 1.72 3.80 10.2m| 9.67 | 21.31 = -300mRL —] i
Slide 27: Uranium
URANIUM ¾ Dormant Assets ¾ Mt Isa Uranium JV, Qld • 50% JV Interest - Summit Resources • Valhalla and Skal Deposits • Total Resource 30,000t U O 3 ¾ Exploration JV’s, NT ¾ Spin Out Float
Slide 28: Summary
SUMMARY ¾ Gold ¾ Experienced Operator ¾ African/Australian Focus ¾ High Leverage to Gold Price ¾ Good Growth Potential ¾ Uranium Interest