Orosur Mining Inc. · TSXV:OMI
Orosur Mining — Uruguay Mineral Exploration — Q2 2009 Earnings Presentation
15 slides from Orosur Mining's earnings presentation, Jan 15, 2009
Slide 1: Results for the Second Quarter of Fiscal 2009, Outlook & Exploration Update
Uruguay Mineral Exploration Results for the Second Quarter of Fiscal 2009, Outlook & Exploration Update January 15, 2009 This presentation should be read in conjunction with the announcement of Results for the second quarter of fiscal 2009 ended November 30, 2008 and Management’s Discussion and Anal
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: Production & Outlook
Operations: Production & Outlook • Gold production below target due to significant shortfall in high grade ore from the Arenal pit – 2Q09: 15,837 ounces compared to the 20,500 ounces target – 1H09: 32,276 ounces versus the anticipated 36,800 ounces • Shortfall will also impact 2H09 with additional h
Slide 4: Operations: Cash Costs & Outlook
Operations: Cash Costs & Outlook • 2Q09 cash costs per ounce of $US 811, above budget due to: – The 5,463 ounce shortfall in production in 2Q09 – $US 183 per ounce for amortisation of deferred strip costs • Overall operating costs, however, below budget and declining: • Fuel prices down 50% • Urugua
Slide 5: Cash: Current Balance & Outlook
Cash: Current Balance & Outlook • Cash balance at November 30, 2008: $US 6.4 million • Expect to close FY09 with $US 8 – 10 million in cash • Below original target of $US 12 million as a result of lower production • Steps taken to improve cash position • Implemented Company-wide cost cutting program
Slide 6: Financial Performance for 2Q09
Financial Performance for 2Q09 Three-months ended November 30, Summary of Results1 Q2 2009 Q2 2008 Operating Results Gold produced Ounces 15,837 26,317 Average cash cost US$/oz 811 374 Average price received US$/oz 796 761 Financial Results Revenue $US ‘000s 11,659 21,180 Net income (loss) for the p
Slide 7: Exploration Update 1H09
Exploration Update 1H09 Exploration during 1H09 focused on: Near the Mine: • Seeking new bulk open pit near-mine resources to contribute to production within two years • Defining higher grade open pit vein resources to increase production at San Gregorio over the next three years • Defining undergro
Slide 8: New Bulk Open Pit Near-mine Resources
New Bulk Open Pit Near-mine Resources Rincon District: Los Castillos Target District 10 km by 5 km along strike; 7 km east-southeast of the Arenal mine Work Done in 1H09 • Defined first target east of Arenal at Rincon de Castillos with geological mapping, sampling and IP geophysical surveys. • Inter
Slide 9: Higher Grade Open Pit Vein Resources
Higher Grade Open Pit Vein Resources Peru & Esperanza Trend <10km from the San Gregorio mill Work Done in 1H09 • Mapping and rock chip sampling in 1H09 defined the general structural trend • Broad spaced drill program was completed over the eastern third of the trend: – 2 m at 12.68 g/t Au from 30 m
Slide 10: Underground Resources
Underground Resources Arenal Deeps Down plunge of the current Arenal pit Work Done in 1H09 • Fifteen diamond drill holes completed during 1H09. Significant mineralization encountered in six of the ten drill holes completed in 2Q09 with results confirming a thick (>20m), high grade (>3g/t) core to th
Slide 11: Targeting Stand Alone Deposits Away From Mine District
Targeting Stand Alone Deposits Away From Mine District 1. Paso de Lugo Shear/vein system 3 km long in the Arroyo Grande Belt. Exploration is targeting a stand alone project. Work Done in 1H09 • Surface sampling during 1H09 identified a significant surface anomaly with consistent rock chips in veins
Slide 12: Targeting Stand Alone Deposits Away From Mine District
Targeting Stand Alone Deposits Away From Mine District 2. Rocha 3. Madre con Hijos Vein Definition of a significant new prospect 60 Vein in the 20 km by 5 km Casupa/ kilometers south of Lascano Crucera District in the Florida Belt Work Done in 1H09 Work Done in 1H09 • First pass and local detailed m
Slide 13: Targeting Stand Alone Deposits Away From Mine District
Targeting Stand Alone Deposits Away From Mine District 4. Presidente Terra 5. Texas Work Done in 1H09 Work Done in 1H09 • Encouraging results of a first drill pass • Surface sampling & mapping in 1H09 program of 51 holes over 6.6 km identified a high-grade vein system over a • Over 45% of the drill
Slide 14: Progress on the Disposal of Non-Gold Assets
Progress on the Disposal of Non-Gold Assets Cinco Rios Diamond Project • In advanced discussions for a JV with a diamond exploration company • Expect to reach definitive agreement in the near future Lascano • Encouraged with the potential of the system following the 4 holes drilled in 1H09 • Will of
Slide 15: 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 Investor Relations in North America Susan Borinelli, Breakstone Group: +1 646-330-5907; sborinelli@breakstone-group.com RBC Capital M
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