Resolute Mining Limited · ASX:RSG
Resolute Mining — Africa Down Under Conference 2013
24 slides from Resolute Mining's conference presentation, Aug 28, 2013
Slide 1: ASX Announcement: CEO presentation at Africa Down Under Conference
ASX Announcement For personal use only 28 August 2013 01 CHIEF EXECUTIVE OFFICER’S PRESENTATION AT AFRICA DOWN UNDER CONFERENCE Attached is a copy of the Chief Executive Officer’s presentation given at the Africa Down Under Conference. GREG FITZGERALD Company Secretary
Slide 2: Africa Downunder Perth - CEO Peter Sullivan
For personal use only AFRICA DOWNUNDER PERTH CHIEF EXECUTIVE OFFICER PETER SULLIVAN 28 AUGUST 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 FY2014 guidance of 345,000oz at A$890/oz 100% unhedged – strong leverage to gold price Profitable and cash generating over wide gold price range Conservative bala
Slide 4: Long Term Producer with +16 Year Presence in Africa
LONG TERM PRODUCER WITH +16 YEAR PRESENCE IN AFRICA For personal use only FY13 435Koz at A$811/oz Producing gold in Africa Ahead of guidance 500,000 since 96/97 450,000 400,000 Consistent 350,000 gold producer since 1989 300,000 ounces 250,000 200,000 150,000 100,000 50,000 0 Australia Africa + 6.5M
Slide 5: Working with Our Community Partners
WORKING WITH OUR COMMUNITY PARTNERS For personal use only 4
Slide 6: Corporate Overview
CORPORATE OVERVIEW Key Information For personal use only ASX Code RSG Shares 641M Last Share Price1 $1.02 Market Cap1 A$654M Daily Turnover2 4.3M shares Cash/Bullion/Inv3 A$156M Debt3 A$92M Hedging NIL Shareholders ICM 33.1% Van Eck 7.4% 1. Current at 27 August 2013 2. Average FY2013 3. As at 30 Jun
Slide 7: FY2013: Strong Financial Performance Through Gold Cycle
FY2013: STRONG FINANCIAL PERFORMANCE THROUGH GOLD CYCLE Gold production up 9% to 435,855oz at A$811/oz For personal use only Revenue increased 7% to $619M at average gold price received of A$1,562/oz (FY12: A$1,627/oz) Reported NPAT of $85M, after non-cash impairment charges of $79M − Impairme
Slide 8: Focus on Cash - Optimising the Business
For personal use only FOCUS ON CASH – OPTIMISING THE BUSINESS Operating versatility and cash generating for wide range of gold price movements Review of Syama life of mine plans with remaining expenditure on Syama expansion critically evaluated Ongoing drive to reduce operating cost base Senior mana
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 (FY13) 196,182 oz Production Grade 3.65 g/t Cash Costs (FY13) A$796/oz Gold Production 250,000 Mine Life 10+ years 200,000 Total Reserves 2.4 Moz 150,000 Reserve Grade 2.6 g/t o
Slide 10: Resetting Syama - Expansion Remaining Robust at Current Gold Price
RESETTING SYAMA - EXPANSION REMAINING 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 Production increases to average 270,000ozpa Stage 3 of open pit
Slide 11: Ravenswood - Stable, Long-Term Production
For personal use only RAVENSWOOD – STABLE, LONG -TERM PRODUCTION Key Statistics RSG Ownership 100% Commissioned 2004 Production (FY13) 141,846oz Production Grade 2.9 g/t Cash Costs (FY13) A$760/oz Gold Production 150,000 Current Mine Life 10+ years 125,000 Total Reserves 1.5 Moz 100,000 Reserve Grad
Slide 12: 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 • Assessment underway for potential to extend mining below 600RL base Drill testing to the 500RL 11
Slide 13: Re-opening of Sarsfield Remains an Option
RE-OPENING OF SARSFIELD REMAINS AN OPTION Potential to extend Ravenswood life For personal use only and increase production by reopening Sarsfield pit ‒ Reserve/Resources of 2.5Moz ‒ Additional 110kozpa output ‒ Mine life extended by 9 years Feasibility Study estimated capital cost of $123M and
Slide 14: Golden Pride - Near End of Long Mine Life
GOLDEN PRIDE – NEAR END OF LONG MINE LIFE Closure of Golden Pride end of 2013 after 15 Key Statistics For personal use only years in production RSG Ownership 100% Rehabilitation well advanced as progressively undertaken since commencement Commissioned 1999 Production (FY13) 97,827 oz Cost prov
Slide 15: Potential to Leverage Experience in Tanzania
For personal use only POTENTIAL TO LEVERAGE EXPERIENCE IN TANZANIA Located 120km NW of Golden Pride at Nyakafuru Recently announced 388,000oz Reserve and 900,000oz in Resources RC/diamond drilling along Kanegele shear continues to deliver very good results over a 5km strike Studies continue
Slide 16: High Value Exploration Portfolio
For personal use only HIGH VALUE EXPLORATION PORTFOLIO Highly prospective, underexplored tenure 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 FY14 US$15M Mult
Slide 17: Syama Regional Exploration Upside
SYAMA REGIONAL EXPLORATION UPSIDE Tenure covers ~75km of For personal use only highly prospective and underexplored Syama Shear in West African Birimian Greenstone Belt Multiple resource extension targets along strike to the north and south Tabakoroni Feasibility Submitted and awaiting Exploit
Slide 18: Huge Position in Prospective Cote d'Ivoire
For personal use only HUGE POSITION IN PROSPECTIVE COTE d’IVOIRE Targeting large deposits in the underexplored, world-class Birimian terrains of West Africa Applied for ~10,000km2 of permits covering 200km+ of Greenstone Belts NE of Newcrest Mining’s Bonikro mine Ten high priority multi elemen
Slide 19: Exposure to Ghana - Noble Mineral Resources
EXPOSURE TO GHANA - NOBLE MINERAL RESOURCES For personal use only Resolute acquired a 19.99%1 stake in Noble and backed a A$85M financing package in Nov 2012 Noble owns the Bibiani gold mine in Ghana To date Bibiani has underperformed and not met production or cost forecasts Resolute has invested A$
Slide 20: Reserves and Resources Update: June 2013
RESERVES AND RESOURCES UPDATE: 30 JUNE 2013 For personal use only Total Reserves and Resources up 13% − Reflecting modified Syama mine plan and Total Mineral Resource and Ore Reserve drilling success across Queensland, Mali 14 12.92 Moz and Tanzania 12 11.42 Moz Gold contained ounces (Moz) Reser
Slide 21: 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 FY2014 guidance of 345,000oz at A$890/oz 100% unhedged – strong leverage to gold price Cash generating over wide range of gold prices Lightly geared balance
Slide 22: 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 23: JORC Reserves
JORC RESERVES RESOLUTE GROUP RESERVES and RESOURCES Reserves and Resources comply with the Australian code for reporting of Mineral Resources and Reserves For personal use only (The JORC Code 2004) Reserves and Resources Statement as at end of June 2013 Gold Reserves Project Resolute Group Resolute
Slide 24: JORC Resources
JORC RESOURCES 1 Gold Resources 1 For personal use only Project Resolute Group Resolute Group Gold Resources Project Resolute Group Resolute Group (includes stockpiles) Project Gold grade Contained Share Share (includes stockpiles) Project Gold grade Contained Share Share Tonnes (g/t) Ounces Gold %