Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Fremantle RIU Explorers Conference February 2019
15 slides from Middle Island Resources's conference presentation, Feb 20, 2019
Slide 1: Exploring Golden Frontiers: Towards a Sandstone Recommissioning
For personal use only Exploring Golden Frontiers Middle Island Resources Towards a Sandstone Recommissioning Fremantle RIU Explorer’s Conference - February 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 & Investments (as at 31 January 2019) A$1.9M Market Cap (at A$0.006 on 15/2/19) A$6.3M 3 3
Slide 4: Location & Tenure
Sandstone Gold Project - Location & Tenure • 11km south of Sandstone, For personal use only 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. • Operating licen
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. • Refurbishment cost of $10.3M, including owners’ costs. • Will include purpose- designed crushing circuit to treat all ore types. • Fully
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 • Mineral Resources of 537,000oz For personal use only gold. • *Exploration Target of 900,000oz to 1.5Moz gold. • Six existing open pits. • Four defined open pit deposits aggregating 127,000oz; Two Mile Hill, Shillington, Shillington North & Wirraminna. • S
Slide 8: Strategy
Sandstone Gold Project – Strategy • Recommission Sandstone gold project at the earliest opportunity. For personal use only • Build production profile to achieve this objective via a dual approach:- - Consolidation of stranded, third-party deposits within the district. - Exploration, focused on the f
Slide 9: Deposit Consolidation
Sandstone Gold Project – Deposit Consolidation • Sandstone only plant For personal use only within 160km; central processing hub. • At least 15 gold deposits within 100km. • Published Mineral Resources of 1.2Moz gold. • Other deposits also being quantified. • Due diligence on-going; in discussion wi
Slide 10: 2019 Exploration
Sandstone Gold Project – 2019 Exploration For personal use only • Aircore drilling of 11 weights of evidence targets commencing next week. • All targets on permitted tenure within 3km of the mill. • RC drilling on at least a further three advanced targets, including Davis & Agnes. 10 10
Slide 11: 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 12: 2019 Exploration
Sandstone Gold Project – 2019 Exploration • Three priority gravity targets identified from 3D inversion modelling. For personal use only • Interpreted to represent potential mineralised intrusives, proximal to Two Mile Hill tonalite. • $150,000 EIS Grant provides endorsement as high value targets. •
Slide 13: Why invest in Middle Island?
Why invest in Middle Island? • Market Capitalisation of For personal use only A$6.3 million (15/2/2019). • Enterprise Value (EV) of *A$7 per resource ounce gold. • Peer average EV (explorers & near-term developers) of *A$29 per resource ounce gold. • Pro-rata EV valuation A$15.6 million. • Significa
Slide 14: Why invest in Middle Island?
Why invest in Middle Island? • Sandstone 100% owned & fully permitted. For personal use only • Near-term gold production requiring modest capital. • Mineral Resources of 537,000oz gold. • Considerable additional exploration upside. • Only plant for 160km; 15 deposits within 100km, aggregating 1.2Moz
Slide 15: Thank you
For personal use only Unit 1, 2 Richardson Street West Perth Thank you Western Australia, 6005 Tel +61 (08) 9322 1430 Fax +61 (08) 9322 1474 www.middleisland.com.au
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