Empire Resources Limited · ASX:ERL
Empire Resources — Investor Presentation (March 2017)
35 slides from Empire Resources's investor presentation, Mar 30, 2017
Slide 1: Kalgoorlie Emerging Gold Producer
For personal use only Kalgoorlie Emerging Gold Producer Penny’s Find Mine 30 March 2017
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only. For personal use only This presentation has been prepared by Empire Resources Limited (“Empire” or the “Company”) and contains general background information about Empire’s activities current as at the date of this presentation (“Informa
Slide 3: Empire's Projects
For personal use only Assets Empire’s Projects • Penny’s Find Gold Mine – 60% ERL (Eastern Goldfields) JV Partner 40% Brimstone Resources Ltd (contributing) • Yuinmery Copper/Gold Project – 100% ERL (Murchison Province) • FYI Resources; 12M shares Empire Resources Ltd 3
Slide 4: Becoming a gold miner
For personal use only Becoming a gold miner • Mining, haulage and milling agreements. • Mining services contract, including funding capped at $7.5M. • Funding covers Mining Contractor’s costs and Owner’s costs to manage the mining. • Mining equipment mobilising to site. • Surveying being carried out
Slide 5: Corporate Agenda
Corporate Agenda • Penny’s Find open cut mining. For personal use only • Drilling and feasibility for u/g development. • Underground mining if feasibility positive. • Potential for our own on-site gravity processing. • Exploration drilling on prospects near Penny’s. • Drilling at Yuinmery for additi
Slide 6: Penny's Find – Achievements
Penny’s Find – Achievements • Completed feasibility, all permitting. For personal use only • Completed road diversion • Completed initial grade control drilling • Completed ROM pad and office site works • Built magazine enclosure, water storage. • Employed staff (Manager, mining engineer, geologist)
Slide 7: Road Completed
For personal use only Road Completed Empire Resources Ltd 7
Slide 8: ROM Pad Completed
For personal use only ROM Pad Completed Empire Resources Ltd 8
Slide 9: Dewatering dam completed and fenced
For personal use only Dewatering dam completed and fenced Empire Resources Ltd 9
Slide 10: Water storage
For personal use only Water storage Empire Resources Ltd 10
Slide 11: Magazine compound completed and fenced
For personal use only Magazine compound completed and fenced Empire Resources Ltd 11
Slide 12: Office/workshop site completed, bunded
For personal use only Office/workshop site completed, bunded Empire Resources Ltd 12
Slide 13: Top Soil clearing
For personal use only Top Soil clearing Southern third of pit area; clearing commenced. New road beyond the far mullock dumps Empire Resources Ltd 13
Slide 14: Penny's Find - Site Layout
Penny’s Find - Site Layout Mine layout within granted Mining Lease (M27/156) For personal use only Empire Resources Ltd 14
Slide 15: Penny's Find – mid year drilling u/g
Penny’s Find – mid year drilling u/g Drilling to convert Inferred into Indicated Resource for U/G mining For personal use only Empire Resources Ltd 15
Slide 16: Penny's Find – proposed drilling u/g
Penny’s Find – proposed drilling u/g Drilling to convert Inferred into Indicated Resource for U/G mining For personal use only Drilling programme Six diamond holes; – 960 m RC, 420m DD, – Est $398K Timing: Mid Year – cash flow dependent New resource Start u/g feasibility Empire Resources Ltd 16
Slide 17: Penny's Find – Underground Potential
Penny’s Find – Underground Potential Significant underground development potential exists. For personal use only • Open Pit - Year 1 21,700 reserve ounces. • Underground – Years 2, 3 29,500 resource ounces Indicated and Inferred • Underground – Years 4, 5 subject to further exploration • Still open
Slide 18: Penny's Find – Key Project Parameters
Penny’s Find – Key Project Parameters • Open Pit reserve 21,700 ounces. For personal use only • Capex – open pit – $1.5M. • Mining contractor funding. • U/g resource drilling and feasibility planned. • Capex – underground development – c$5M. • System remains open at depth. • Studying processing on s
Slide 19: Location Toll Treatment
For personal use only Location Toll Treatment 63 km haulage to Lakewood Mill Empire Resources Ltd 19
Slide 20: Penny's Find Gold Mine - Exploration
For personal use only Penny’s Find Gold Mine - Exploration Excellent exploration potential on existing targets. Empire Resources Ltd 20
Slide 21: Yuinmery - Location
For personal use only Yuinmery - Location Located approx 480 km north of Perth via excellent roads Empire Resources Ltd 21
Slide 22: Yuinmery - Volcanogenic Massive Sulphide Deposits
For personal use only Yuinmery - Volcanogenic Massive Sulphide Deposits Empire Resources Ltd 22
Slide 23: Yuinmery - Geology
For personal use only Yuinmery - Geology Empire Resources Ltd 23
Slide 24: Just Desserts – Cross Section
For personal use only Just Desserts – Cross Section Empire Resources Ltd 24
Slide 25: Option with Evolution Mining
For personal use only Option with Evolution Mining • Evolution Mining (Mungari) Pty Ltd is manager of a joint venture with Giralia Resources Pty Ltd. • Evolution has a 91% interest in the JV (2 tenements), approximately 65 sq kilometres. • Empire has a 2 year option to purchase their interest . • Em
Slide 26: A Zone – Cross Section
For personal use only A Zone – Cross Section Drilling programme • One diamond tail; 110 m, $50K • Five more diamond holes; 1500 m RC, 750m DD, Est $605K Timing: May – cash flow dependent from Penny’s Find or external sources Empire Resources Ltd 26
Slide 27: VMS – illustrative comparison of a Canadian system
For personal use only VMS – illustrative comparison of a Canadian system Empire Resources Ltd 27
Slide 28: Evolution of Golden Grove mineralisation
For personal use only Evolution of Golden Grove mineralisation Empire Resources Ltd 28
Slide 29: News going forward
News going forward Potential news flow to start imminently, as follows; For personal use only Penny’s Find • Mining contract and site construction • Start large scale mining • Gold production • 6 drill holes to convert Inferred into Indicated Resources below pit • Underground feasibility • Undergrou
Slide 30: Investment Case
Investment Case • Initial open pit operation with proposed u/g extension For personal use only to follow. • Near term production/cash flow. • Close to Kalgoorlie, minimal additional infrastructure required. • Simple free milling ore (high recovery). • Established high grade, quality resource. • Oppo
Slide 31: Capital Structure Directors
For personal use only Capital Structure Directors • Shares on Issue: 387,201,475 • Unlisted Options on Issue: 22,102,000 exc 2.5 cents by 3 May 2019 1,000,000 exc 4 cents by 22 June 2019 9,000,000 exc 4 cents by 18 July 2019 • Market Capitalisation: $9.5M (on 23 March 2017 at 2.4 cents) Directors To
Slide 32: Historical context
For personal use only Historical context Empire Resources Ltd 32
Slide 33: Notes – Penny's Find Reserve
Notes – Penny’s Find Reserve Notes on the Penny’s Find Reserve For personal use only A probable ore reserve for Penny’s Find of 142,000 tonnes @ 4.62g/t Au for 21,700 ounces of gold was announced to the ASX on the 15 February 2016. The Feasibility Study was based on the ore reserve being contained w
Slide 34: Penny's Find – Resource Estimate
Penny’s Find – Resource Estimate Notes on the existing Penny’s Find Resource For personal use only NEW RESOURCE CALCULATION FROM DEVELOPMENT STUDIES UNDERWAY An updated resource estimate for the Penny’s Find gold mineralisation using the 2012 JORC Code was completed and announced to the market on 15
Slide 35: Just Desserts – Resource Estimate
Just Desserts – Resource Estimate Notes on the existing Just Desserts Resource For personal use only An updated resource estimate for Just Desserts using the 2012 JORC Code was completed and announced to the market on 17 May 2016. Reportable Mineral Resource to a depth of 170m Cut-off Weather Class
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