Vault Minerals Limited · ASX:VAU

Vault Minerals — Red 5 — Corporate Update (November 2007)

26 slides from Vault Minerals's corporate update, Nov 29, 2007

  1. Slide 1: Siana Gold Project Feasibility Study

    For personal use only Siana Gold Project Feasibility Study November 2007 RED5 Limited

  2. Slide 2: Focused on the Philippines

    Focused on the Philippines… For personal use only ƒ Development imminent ƒ Siana Au ƒ Mapawa Au …and potential for Zn, Cu RED5 Limited

  3. Slide 3: Red 5 - at a glance

    Red 5 - at a glance…. For personal use only RED – ASX (27 Nov): 13.0cents Market Cap (27 Nov): A$40.2m Issued Shares: 309.2m Enterprise Value: US$36/oz (per Resource oz) Largest Shareholders: Mathews Capital 19.2% AngloGold Ashanti 13.0% Directors 4.8% RED5 Limited

  4. Slide 4: Highly prospective location

    Highly prospective location For personal use only ƒ 100 million oz equivalent potential in Surigao del Norte ƒ Excellent local infrastructure ƒ Strong Community support (history of mining) ƒ Strategic land position ƒ Secure form of mining title (Mineral Production Sharing Agreement) RED5 Limited

  5. Slide 5: Siana cross-section

    Siana cross-section - highly predictable gold ore zones For personal use only RED5 Limited

  6. Slide 6: Siana Mineral Resources

    Siana Mineral Resources - gold system open in all directions For personal use only RED5 Limited

  7. Slide 7: Siana Mineral Resources

    Siana Mineral Resources For personal use only Category* Mt Au (g/t) Oz Ag (g/t) Oz Indicated 3.16 3.3 339,700 8.6 868,400 Inferred 3.11 7.2 717,300 13.2 1,314,500 TOTAL 6.27 5.3 1,057,000 10.8 2,183,000 *Note - consistent with JORC standards RED5 Limited

  8. Slide 8: Underground ore zones

    Underground ore zones ….. open at depth For personal use only RED5 Limited

  9. Slide 9: Siana project design layout

    Siana project design layout - within original footprint For personal use only RED5 Limited

  10. Slide 10: Open pit & underground mine design

    Open pit & underground mine design For personal use only RED5 Limited

  11. Slide 11: LOM capital costs (US$)

    LOM capital costs (US$) For personal use only Direct & Indirect Contingency Total Open Pit 54,423,906 5,442,391 59,866,296 Underground 7,775,236 777,523 8,552,760 Total 62,199,142 6,219,914 68,419,056 RED5 Limited

  12. Slide 12: Accelerated Case - first years

    Accelerated Case - first 5 years For personal use only First 5 years Calendar Year 2009 2010 2011 2012 2013 LOM Gold ounces 65,866 69,650 117,184 129,142 74,590 717,413 Cash cost (US$/oz) 368 330 265 249 294 309 Total cost (US$/oz) 444 406 341 325 369 384 RED5 Limited

  13. Slide 13: Accelerated Case production profile

    personal ForQuarterly use only Gold Production 31 -M ar -0 5,000 0 10,000 15,000 20,000 25,000 30,000 35,000 40,000 31 9 -D ec -0 30 9 -S ep -1 30 0 -J un -1 31 1 -M ar -1 31 2 -D ec -1 30 2 -S ep -1 30 3 -J un -1 31 4 -M ar -1 31 5 -D ec -1 30 5 -S ep -1 30 6 -J un -1 31 7 Accelerated Case producti

  14. Slide 14: LOM operating costs (US$) – Accelerated Case

    LOM operating costs (US$) – Accelerated Case For personal use only Open Pit UG LOM Mining 13.32 38.43* 23.82 Processing 10.25 12.65 11.25 Administration 3.78 6.77 5.03 Royalties 1.54 3.15 2.22 Total Cost / tonne 28.89 61.01 42.32 Total Cash Cost / oz^ 301 314** 309** Notes: Strip ratio: 6.4:1 Underg

  15. Slide 15: Accelerated Case pre-tax financials

    Accelerated Case pre-tax financials – highly leveraged to gold price upside use only 300 120% 250 100% NPV (8%) 200 80% For personal IRR 150 60% 100 40% 50 20% 0 0% 450 500 550 600 650 700 750 800 850 900 950 1000 1050 Gold Price US$ RED5 Limited

  16. Slide 16: Project development profile

    Project development profile For personal use only Plus Alegria (?) Plus Siana Underground Extension Ounces equiv. pa Plus Underground Zinc Plus Mapawa Open-Pit ~40,000oz pa Siana Underground – up to 100,000oz pa Siana Open-Pit - 65,000oz pa+ Timeline RED5 Limited

  17. Slide 17: Pre-tax NPV

    Pre-tax NPV – upside potential realised For personal use only 200 180 160 140 ? US$ Millions 120 100 80 60 40 20 0 Open-Pit Base Case Accelerated Case Enhanced Case US$650/oz, 8% Discount Rate RED5 Limited

  18. Slide 18: Pre-tax IRR

    Pre-tax IRR – short payback indicated* For personal use only 60% Internal Rate of Return % 50% ? 40% 30% 20% 10% 0% Open-Pit Base Case Accelerated Case Enhanced Case * 31 Months at US$650/oz RED5 Limited

  19. Slide 19: Strong community support

    Strong community support… For personal use only RED5 Limited

  20. Slide 20: Through health assistance

    ...through health assistance For personal use only RED5 Limited

  21. Slide 21: Welfare

    … welfare For personal use only RED5 Limited

  22. Slide 22: And education programmes

    … and education programmes For personal use only RED5 Limited

  23. Slide 23: Education Program - Playgrounds

    Education Program - Playgrounds For personal use only RED5 Limited

  24. Slide 24: Education Program - Playgrounds

    Education Program - Playgrounds For personal use only RED5 Limited

  25. Slide 25: Law & Order Program

    Law & Order Program For personal use only RED5 Limited

  26. Slide 26: Strong project fundamentals

    Strong project fundamentals - studies indicate further upside For personal use only ƒ Open Pit and Underground studies complete – 10 year plus mine life indicated (0.72Moz Au, 1.35Moz Ag) – Potential to add to production profile – Mining rate, zinc production and Mapawa enhancements – Societe Genera

Red 5 — Corporate Update (November 2007) on 6ix