Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Shareholder Meeting (November 2012)
29 slides from Middle Island Resources's shareholder meeting presentation, Nov 30, 2012
Slide 1: Exploring Golden Frontiers
For personal use only Exploring Golden Frontiers Middle Island Resources AGM Presentation November 2012
Slide 2: Disclaimer Notice and Competent Persons Statement
Disclaimer Notice and Competent Persons Statement For personal use only Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited (“MDI”) nor doe
Slide 3: Capital Structure
Capital Structure* ASX Code : MDI For personal use only Shares on Issue 125m Unlisted Options 18.5m Number of Shareholders ~700 Top 20 Shareholders ~63% Directors ~21% Institutions ~30% Newmont ~10% Cash (30/9/12) A$11.3m Market Cap (at A$0.14) A$17.5m 3
Slide 4: Board & Management Team
Board & Management Team For personal use only Peter Thomas • Professional solicitor • Corporate and commercial mining industry advice since 1980 • Served on the boards (Non-Executive of various listed companies since the 1980s • Founding Chairman of Sandfire Resources NL • Currently Chairman) Chairm
Slide 5: Corporate Strategy
Corporate Strategy For personal use only • Gold. • West Africa. • Build minimum 1.1Moz resource base. • Exploration & development - best leverage & optimum value. • Leverage off management’s 23 years local experience & contacts. • Jurisdictions with acceptable risk profile. • Jurisdictions with expo
Slide 6: Current Projects
Current Projects For personal use only • 100% of Reo Project – Burkina Faso • 100% in Nuon River Project (earning 75% in Grand Gedeh permit) – Liberia • 70-100% interest in 8 permits and applications comprising the Sirba Project – Niger • Further acquisitions under review. • Strict project selection
Slide 7: Exploration Summary
Exploration Summary For personal use only • Regional programs (airborne geophysics & geochemistry) now largely completed. • Majority of targets on all projects identified & prioritised. • First 6 targets tested by drilling in 2011-12 (Morley, K4/K5, East, Samba, Songonduari/Forbemi, Big Hill). • 5 o
Slide 8: 2012-13 Exploration Strategy
2012-13 Exploration Strategy For personal use only • $4.7 million exploration budget re-aligned to market circumstances. • 2012-13 focus on prudence over speed in achieving objective. • Focus on key advanced targets with potential to deliver strong early results (K4/K5 & Tialkam South). • Advance se
Slide 9: Reo Project – Setting
Reo Project – Setting For personal use only • 7 permits covering 1,166 km2 (plus on-going tenure consolidation). • 150km west of Ouagadougou; excellent access and infrastructure. • Straddling structurally complex confluence of the Boromo & Houndé belts. • Gold prospects around margins of the Didyr &
Slide 10: Reo Project – Airborne Magnetics
Reo Project – Airborne Magnetics For personal use only • High resolution airborne magnetic survey identified 50km long, major shear zone lying along south-eastern margin of project, providing a focus for exploration. 10
Slide 11: Reo Project – Geochemical Auger Drilling
Reo Project – Geochemical Auger Drilling For personal use only • 69,528m (9,341 holes) geochemical auger drilling completed. • Designed to identify/refine and prioritise all prospects within Reo Project. • Morley-Goumi, K4/K5, East & Samba areas confirmed as significant targets. 11
Slide 12: Reo Project – Morley-Goumi Prospect
Reo Project – Morley-Goumi Prospect For personal use only • Broad, high grade series of east-west trending lodes that dip north. • Numerous significant trench & drill results from single (northern) zone tested to date:- - KDTR01 10.6m at 17.4g/t Au - KRAC011 39m at 2.62g/t Au - KRAC128 34m at 16.4g/
Slide 13: Reo Project – K4/K5 Prospect
Reo Project – K4/K5 Prospect For personal use only • Largest (6-7km diameter) and highest tenor auger anomaly;10,000 artisanal miners removed June 2011. • More significant intersections to date:– - 18m at 2.51g/t Au (eoh) - 13m at 2.23g/t Au (eoh) - 4m at 16.2g/t Au - 12m at 4.99g/t Au - 12m at 4.11
Slide 14: Reo Project – Samba Prospect
Reo Project – Samba Prospect For personal use only • 4km strike length priority auger gold anomaly. • Associated with major shear zone where it deflects around the western margin of Samba Granodiorite. • Hosted by sheared, altered and quartz veined meta-basalts. • Three 800m spaced reconnaissance RA
Slide 15: Sirba Project (Niger) – Overview
Sirba Project (Niger) – Overview For personal use only • 70-100% interest in 8 permits covering 2,296km2 of under-explored Birimian greenstones. • Covers 80km strike length of JICA regional gold soil anomaly. • Consolidation of entire Sirba greenstone belt straddling SEMAFO’s Samira Hill gold operat
Slide 16: Nassilé Permit - Niger
Nassilé Permit - Niger For personal use only • ~37,000m geochemical auger drilling completed in 2011 & 2012. • Identified 8km long Songonduari anomaly, 2km long Forbemi anomaly & new 10km long Kimba Prospect. • Kimba consistent with position of granite contact. • Infill auger geochemistry & RAB dril
Slide 17: Sirba Project - Nassilé Permit
Sirba Project - Nassilé Permit For personal use only • Reconnaissance RC program (168 holes; 12,251m) completed in 2012 at Songonduari & Forbemi. • Better results: - 12m at 3.08g/t Au - 6m at 1.98g/t Au - 3m at 4.90g/t Au - 15m at 2.24g/t Au - 2m at 5.45g/t Au - 6m at 1.91g/t Au - 2m at 7.60g/t Au -
Slide 18: Sirba Project - AMI Permits
Sirba Project - AMI Permits For personal use only • Earning 70% interest in AMI’s rights to three granted permits and one application via staged expenditure of US$2 million over a 3 year term. • 15 gold prospects identified to date. • Better drill intercepts include:- • 18m at 4.89g/t Au (eoh) • 18m
Slide 19: Nuon River Project - Liberia
Nuon River Project - Liberia For personal use only • 100% interest in 5 permits & earning initial 75% interest in a sixth permit. • Aggregate semi- contiguous area of 3,005km2. • Located at Archaean - Birimian boundary of the West African Craton. • Immediately along strike from Ity gold project in C
Slide 20: Nuon River Project - Liberia
Nuon River Project - Liberia For personal use only • BLEG stream sediment sampling completed over whole project area; 8 priority anomalies. 20
Slide 21: Nuon River Project
Nuon River Project For personal use only • Airborne geophysical survey defines architecture of gold prospects, an itabirite iron ore occurrence & 51 interpreted kimberlite pipes. 21
Slide 22: Nuon River Project – Barteh Jam Camp
Nuon River Project – Barteh Jam Camp For personal use only • Discovered in 1946, Barteh Jam represents the second largest artisanal gold camp in Liberia. • Big Hill Prospect defined by 3.5km long, 80- 150m wide, open-ended zone of abundant artisanal shafts & pits. • Broad, east-west trending zone di
Slide 23: Nuon River Project – Barteh Jam Prospect
Nuon River Project – Barteh Jam Prospect For personal use only • Soil sampling defined cohesive, high tenor, east-west trending gold anomaly over 3.5km strike length. • Initial 35 RC/DD holes (4,027m) completed in 2012. • Nominal 160m x 80m drill pattern over 3km strike length. • Better results comp
Slide 24: Community Development
Community Development For personal use only • 5% of annual exploration budget dedicated to community development programs. • Essential to build political & social capital from the outset. • Seven projects completed or underway. • Potable water reticulation system completed at Reo. 24
Slide 25: Community Development
Community Development For personal use only • Construction of a 3 classroom primary school, latrine block & water bore completed at Sirba. • Market gardening enhancement project underway at Reo. • Refurbishment/ re-roofing of two primary schools completed at Nuon River. • Senior School annexe (3x cl
Slide 26: 2012-13 Exploration Program
2012-13 Exploration Program For personal use only • Reo Project − K4/K5 (diamond, RAB & RC drilling, metallurgy) − Samba (RC drilling) − Goumi (RAB drilling) • Sirba Project − Tialkam South (mapping, diamond & RC drilling, metallurgy) − Kimba (infill auger & RAB drilling) − M’banga (infill auger dri
Slide 27: Sample Preparation Laboratory
Sample Preparation Laboratory For personal use only • Assay backlog represented major issue in 2011 & 2012. • Purchased containerised sample preparation facility in South Africa. • Laboratory being commissioned in Ouagadougou; Bureau Veritas appointed to manage facility. • Will initially process sam
Slide 28: Conclusions
Conclusions For personal use only • New generation West African gold company. • Clear, simple strategy & systematic technical approach. • Assay backlog resolved. • Highly experienced West African team. • Newmont as a major shareholder (10.15%). • Major international institutions well represented on
Slide 29: Thank you & questions
For personal use only Unit 2, 2 Richardson Street West Perth Western Australia, 6005 Thank you & questions Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
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