Middle Island Resources Limited · ASX:MDI
Middle Island Resources — RIU Sydney Resources Roundup - May 2019
19 slides from Middle Island Resources's conference presentation, May 3, 2019
Slide 1: Exploring Golden Frontiers
For personal use only Exploring Golden Frontiers Middle Island Resources Towards a Sandstone Recommissioning RIU Sydney Resources Roundup - May 2019 1
Slide 2: Disclaimer Notice and Competent Person's Statement
Disclaimer Notice and Competent Person’s 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 do
Slide 3: Capital Structure
Capital Structure ASX Code: MDI For personal use only Shares on Issue 1,047M Unlisted Options 379M Number of Shareholders 676 Top 20 Shareholders 66% Institutions 20% Directors 11% Cash & Liquid Investments (as at 31 March 2019) A$1.4M Market Cap (A$0.008/share at date of Bidder’s Statement) A$8.3M
Slide 4: Location & Tenure
Sandstone Gold Project - Location & Tenure For personal use only • 11km south of Sandstone, 400km NW of Kalgoorlie. • Sealed highway between Mt Magnet & Leinster. • 100% interest (or rights to 100%) in 191km2. • Includes two fully permitted Mining Leases that pre-date Native Title. • Existing gold p
Slide 5: Processing Plant & Infrastructure
Processing Plant & Infrastructure • 600,000tpa CIP plant on For personal use only care & maintenance. • Includes conventional grinding, milling & leach circuits. • Estimated refurbishment cost of $10.3M, including owner’s costs. • Will include purpose- designed crushing circuit to treat all ore type
Slide 6: Processing Plant & Infrastructure
Processing Plant & Infrastructure • Contract diesel-generated For personal use only power plant. • Fuel tanks, workshops, laboratory & mine offices. • Substantial inventory of equipment & spares. • Permitted tailings facility & bore field. • Fully equipped camp (accommodating 100) on freehold title
Slide 7: Mineral Resources
Sandstone Gold Project – Mineral Resources • JORC 2012 Mineral Resources of For personal use only 125,300oz gold • *Exploration Target of 24-34Mt at 1.1-1.4g/t for 900,000oz to 1.5Moz gold. • Six existing open pits. • Four defined open pit deposits aggregating 125,300oz; Two Mile Hill, Shillington,
Slide 8: Strategy & Vision
Sandstone Gold Project – Strategy & Vision For personal use only Strategy & Vision comprises three sequential elements:- 1. Make a decision to recommission the Sandstone Gold Plant at the earliest opportunity via exploration &/or consolidation of proximal third party deposits. 2. Consolidate additio
Slide 9: AME Takeover Offer
Sandstone Gold Project – AME Takeover Offer • Alto owns four gold For personal use only deposits within 30km of MDI plant. • Access to MDI plant via former haul roads. • Aggregated with MDI’s deposits, will likely justify a plant recommissioning. • Highly complementary assets & tenure. • Consolidate
Slide 10: Alto Takeover Offer
Sandstone Gold Project – Alto Takeover Offer What does the offer represent for Alto shareholders:- For personal use only • A premium of 61% on bid announcement & 35% on lodgement of Bidder’s Statement (based on Alto closing price prior to Bid announcement - refer Appendix 2). • Provides a realistic
Slide 11: Broader Vision
Sandstone Gold Project – Broader Vision • Sandstone only plant For personal use only within 150km; central processing hub. • At least 11 further stranded gold deposits within 100km. • Majority are published Mineral Resources with remainder being quantified. • Due diligence on-going; actively pursuin
Slide 12: Two Mile Hill Tonalite
Two Mile Hill Tonalite For personal use only • Tonalite (granite) plug or stock. • 250m long, 90m wide & extends to at least 700m depth. • *Exploration Target of 24-34Mt at 1.1-1.4g/t (900K-1.5Moz) gold. • Consistent diamond core intersections:- 508.3m at 1.38g/t 372.7m at 1.52g/t 230.4m at 1.62g/t
Slide 13: Two Mile Hill BIF
Two Mile Hill BIF • High grade gold hosted For personal use only in BIF units immediately adjacent to tonalite. • Gold associated with pyrite replacement of magnetite horizons. • True width intercepts include:- 22m at 24g/t 8m at 56g/t 5m at 27g/t 5m at 22g/t • Multiple ore positions intersected mar
Slide 14: 2019 Exploration
Sandstone Gold Project – 2019 Exploration For personal use only • Three priority gravity targets identified from 3D inversion modelling. • Interpreted to represent potential mineralised intrusives, proximal to Two Mile Hill tonalite. • $150,000 WA Government drilling grant provides endorsement as hi
Slide 15: 2019 Exploration
Sandstone Gold Project – 2019 Exploration For personal use only • Aircore drilling of 11 weights of evidence targets recently completed. • Identified a further three gold anomalies on permitted tenure within 3km of the mill. • RC drilling to commence shortly on a further three advanced targets, incl
Slide 16: Why invest in Middle Island?
Why invest in Middle Island? For personal use only • Sandstone 100% owned & fully permitted. • JORC 2012 Mineral Resources of 125,300oz oz gold & Exploration Target of 24-34Mt at 1.1-1.4g/t for 900,000oz to 1.5Moz gold. • Considerable additional exploration upside. • Potential near-term gold product
Slide 17: Thank you
For personal use only Unit 1, 2 Richardson Street West Perth Western Australia, 6005 Thank you Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
Slide 18: Appendix – JORC 2012 Mineral Resource Statement
Appendix 1 – JORC 2012 Mineral Resource Statement MDI Sandstone Gold Project JORC 2012 Mineral Resource Statement For personal use only COG Grade Contained Gold Deposit (g/t Au) Tonnes (g/t Au) (oz.) JORC Classification JORC Classification Two Mile Hill – Open Pit 0.7 1,012,000 1.36 44,000 Indicated
Slide 19: Appendix – Bid Premium Calculations
Appendix 2 – Bid Premium Calculations For personal use only The Offer comprises 5 MDI Shares for every 1 of AME Share, which values AME Shares at: • $0.045 per AME Share, based on the last trading price of $0.009 per MDI Share on 28 February 2019, which represents a premium of 61% to the AME closing
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