Golden Cross Resources Ltd · ASX:GCR
Golden Cross Resources — Shareholder Meeting (October 2008)
32 slides from Golden Cross Resources's shareholder meeting presentation, Oct 15, 2008
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 15th October 2008 Kim Stanton-Cook Managing Director
Slide 2: Disclaimer and Competent Person Statement
For personal use only DISCLAIMER This material contains certain forecasts and forward-looking information, including information about possible or assumed future performance, exploration results, resources or potential growth of Golden Cross Resources Ltd, industry growth or other trend projections.
Slide 3: Board
For personal use only Board Chris Torrey – non-executive Interim Chairman Kim Stanton-Cook - Managing Director David Timms – non-executive Director Kerry McHugh – non-executive Director Simon Lennon – Company Secretary Daven Timms – co-Company Secretary (until 31 October 2008) and Alternate Director
Slide 4: GCR Summary at October 2008
For personal use only GCR Summary at October 2008 Personnel numbers have been reduced. GCR is conserving cash, project sales under negotiation. Copper Hill – under potential partner/investor review and new, value-adding processing options under consideration. Exploration continuing at Mulga Tank nic
Slide 5: GCR is a gold, base metals, and uranium explorer
For personal use only GCR is a gold, base metals, and uranium explorer. Lachlan Fold Belt and Curnamona Province of New South Wales
Slide 6: Commodity list includes phosphate in the Mount Isa region
For personal use only Golden Cross’ commodity list includes phosphate resources in the Mount Isa region. Mount Isa (phosphate – uranium – copper-gold), and Bowen (gold-silver) regions of Queensland
Slide 7: Mulga Tank nickel project drilling completed
For personal use only Golden Cross has just completed drilling its Mulga Tank nickel project in the Yilgarn. Yilgarn Block of Western Australia. Mulga Tank project has drill intersections of +200m @ 0.2% Ni
Slide 8: Golden Cross is a gold, uranium and base metals explorer on the move
For personal use only Golden Cross is a gold, uranium and base metals explorer on the move 3,000+ shareholders 684 million shares issued $10 million market capitalisation $2.75M in cash + ~$2M in cash/equity, staged payments
Slide 9: Golden Cross Resources Australian Project Locations
Darwin # Esmeralda Mount Isa (U P Cu-Au) Highland Sherrin Quita ® , Brisbane Mulga Tank Canbelego (UNiAu) | (Cu Au) ae) Yellow Mt ee) Kalgoorlie ei Perth F Wagga Tank > =) Perth @ Broken Hill Q = (PGM's) 2 eu Zn Pb) 3 z Kilparney ———~ Rast (Au Cu Pb Zn) —~ ° West Wyalong (Au) —— Cargo (Au Cu) Adelai
Slide 10: Copper Hill
For personal use only Copper Hill
Slide 11: Copper Hill JORC Resource Estimate
Copper Hill JORC Resource Estimate For personal use only Copper Tonnes Copper Gold (g/t) Contained Contained Cutoff (Mt) (%) Copper (Kt) Gold (M oz) (%) 0.20 133 0.31 0.28 421 1.20 Containing 3.3 million tonnes sulphur in chalcopyrite (CuFeS2) & pyrite (FeS2)
Slide 12: Mining & Metallurgy
Mining & Metallurgy For personal use only • Low strip ratio at 0.6 : 1 • Geotechnical review positive • Short load-haul-dump to ROM pad • Low BWi indicated = lower cost crushing & grinding • Standard sulphide flotation circuit • 85-90% Cu recoveries indicated, Au ~ 55% recovery; may be 85% with CIL
Slide 13: Copper Hill Project – Potential Production
Copper Hill Project – Potential Production Conventional Concentrate Approach For personal use only 8 million tonnes per annum throughput over a 12-year mine life to produce in total recoverable 260,000 tonnes of copper and 400,000 to 500,000 ounces of gold Assuming 85% Cu and 55% Au recovery
Slide 14: This approach does not maximise the value of the elements at Copper Hill
But this approach does not maximise the value For personal use only of the elements present at Copper Hill. Copper Gold Sulphur Iron
Slide 15: Maximising Value
Maximising Value For personal use only • Australian companies should try and add value. GCR wants to be one of them. • By producing copper metal, bullion gold, sulphuric acid and iron granules • Higher value products with minimal waste and greatly improved environmental outcomes
Slide 16: Maximising Value
Maximising Value For personal use only • Roasting of Copper Hill sulphides (CuFeS2 and FeS2) would yield sulphur dioxide (SO2) which can be converted to sulphuric acid (H2SO4) and a calcine from which the copper and gold would be leached to produce cathode copper (SX/EW) and bullion gold by CIL at m
Slide 17: Copper Hill Project – Higher Recoveries
Copper Hill Project – Higher Recoveries ~ HYPOTHETICAL ~ For personal use only Roaster – SX/EW Cu – CIL Au – Fe2O3 8 million tonnes per annum throughput over a 14-year mine life to produce, in total, recoverable 300,000 tonnes of copper and 1,000,000 ounces of gold
Slide 18: Copper Hill Project – Additional Revenue
Copper Hill Project – Additional Revenue For personal use only Recover SO2 for sulphuric acid production & After Cu and Au leaching, granulate the Fe2O3 calcine for sale. ADDED VALUE ~ NO WASTE!
Slide 19: Process – capex estimate underway
Process – capex estimate underway • Conventional Circuit comprising crusher, stockpile, For personal use only reclaim, SAG mill, ball mill, rougher, cleaner float with regrind and pyrite circuit, • Concentrate thickening, filtration, storage, loading, tailings thickening and dam augmented by the add
Slide 20: Infrastructure and Support
Infrastructure and Support For personal use only • Railway spur line to the foot of Copper Hill • 4.5 km to 132Kv electrical sub-station • Supply chains, fabrication, services • 35 km from Lake Burrendong • Molong community support • Cabonne Council support • State Government support
Slide 21: Copper Hill Infrastructure
Molong 132Kv --------- lia Ra ilway - ------------------------ Sub-station ---------------------Tra ns-Austra For personal use only 4.5km 4.5km Existing Railway Copper Hill Infrastructure
Slide 22: Copper Hill Railway
Copper Hill For personal use only Copper Hill Railway
Slide 23: GCR - Joint Ventures
GCR - Joint Ventures Broken Hill – Vale (CVRD-Inco) For personal use only Cullarin - Tri Origin Wagga Tank – OZ Minerals Kempfield, Sunny Corner & West Wyalong – Argent Minerals Mount Isa Phosphate – Legend International Total for earn-ins = $10.5 million --------------------------------------------
Slide 24: Queensland – phosphate, uranium, copper-gold
For personal use only Queensland – phosphate, uranium, copper-gold
Slide 25: Mount Isa
For personal use only Mount Isa GCR owns about one third of Legend’s claimed P2O5 GCR will retain 20%, free-carried to decision to mine, if Legend International earns its 80%. GCR retains 100% of all other minerals ~including uranium and IOCG style targets~
Slide 26: Western Australia – nickel, gold, uranium
For personal use only Western Australia – nickel, gold , uranium
Slide 27: Mulga Tank Magnetics
For personal use only Mulga Tank Magnetics The 4 km x 3 km Minigwal Dunite, (olivene- rich peridotite) stands out clearly.
Slide 28: Potential for Kambalda–Black Swan-style nickel deposits
Potential for Kambalda – For personal use only Black Swan-style nickel deposits Hole MTD001 averaged 0.20% nickel across the entire 270m of serpentinised dunite from 67.3m MTD002 returned 0.19% nickel over 212m (from 60m). Shallow RAB samples assayed up to 2% nickel. Mount Keith-style nickel potenti
Slide 29: For personal use only
For personal use only MTD003 completed October 2008. Core cutting and assaying to come. Pyrrhotite – pyrite observed, minor chalcopyite, trace pentlandite.
Slide 30: For personal use only
For personal use only
Slide 31: Mulga Tank East EL 39-1072
Mulga Tank East EL For personal use only 39-1072 Mobile Metal Ion soil sampling program now underway over little-explored Minigwal Dunite greenstone sequence. Potential for gold and nickel mineralisation
Slide 32: Golden Cross is saving its cash but looking for opportunities
For personal use only Golden Cross is saving its cash but looking for the opportunities which may now appear… • Most projects farmed out. • Drilling and testing the best targets. • New sources of support coming forward.
Golden Cross Resources — Shareholder Meeting (October 2008) on 6ix