Slide 1: Chief Executive Officer's Presentation at Indaba Conference
1 ACN 097 088 689 01 For personal use only 8 February 2012 CHIEF EXECUTIVE OFFICER’S PRESENTATION AT INDABA CONFERENCE Attached is a copy of the Chief Executive Officer’s presentation given at the Mining Indaba Conference. For and on behalf of the Board GREG FITZGERALD Company Secretary
Slide 2: Mining Indaba Cape Town
For personal use only MINING INDABA CAPE TOWN CHIEF EXECUTIVE OFFICER PETER SULLIVAN 8 FEBRUARY 2012
Slide 3: A Golden Value Opportunity
A GOLDEN VALUE OPPORTUNITY For personal use only • Second largest ASX-listed gold producer by output • 330,000oz annual production growing to 400,000oz+ Koz FY12 Forecast 410Koz @ A$730/oz 500 • 5.2Moz in Reserves supports 10+ years mine life 400 300 200 • 100% unhedged leverage to the strong gold p
Slide 4: Balance Sheet Ready for Growth
BALANCE SHEET READY FOR GROWTH For personal use only • Balance sheet and financial risk profile transformed over the course of 2011 • Face value of total borrowings reduced $M Resolute 2011 Debt Levels from $168M to $11M in just 12 months 200 160 • Operations and exercise of options leaves 120 cash
Slide 5: Operating Snapshot
For personal use only 4 OPERATING SNAPSHOT
Slide 6: Corporate Social Responsibility
CORPORATE SOCIAL RESPONSIBILITY For personal use only • Over fifteen years experience operating in Africa • Strong track record of protecting the environment and delivering benefits for local communities • Adopt internationally recognised environmental and occupational health and safety standards •
Slide 7: Tanzania
TANZANIA For personal use only Medical testing 6
Slide 8: Mali
For personal use only 7 MALI
Slide 9: Resolute Value Add Strategy
RESOLUTE VALUE ADD STRATEGY For personal use only • Improve mechanical consistency of Syama to achieve target production of 250,000oz a year • Grow group production while reducing costs through identified optimisation and expansion projects • Unlock substantial exploration potential in Mali, Austral
Slide 10: Long Growth Pipeline
LONG GROWTH PIPELINE For personal use only - Syama pit expansion - Syama oxide circuit NEAR-TERM PRODUCTION - Syama grid power GROWTH - Sarsfield pit reopening - Syama satellites (Alpha, Beta, QVH, and BA01) - Welcome Breccia ADVANCED - Nyakafuru EXPLORATION - Syama regional targets EARLIER STAGE -
Slide 11: Growth Projects
GROWTH PROJECTS For personal use only • Production Growth − Syama: oxide circuit additional ~70Koz pa, planned 1H 2014 − Ravenswood: Sarsfield reopening ~70Koz pa, planned 1H 2013 • Additional production replaces Golden Pride − Golden Pride: closure planned 1H 2013 − Scoping study to relocate Golden
Slide 12: Syama: Ramp Up
SYAMA: RAMP UP For personal use only • FY11 production 85,362oz at US$1,197/oz • Gold production increase and cash cost decrease underway − Q1 FY12: 25,958oz at US$835/oz − Q2 FY12: 35,142oz at US$842/oz − Q3 FY12: Expected further improvement • Improved mechanical consistency and plant throughput d
Slide 13: Syama: Pit Expansion
SYAMA: PIT EXPANSION For personal use only • Expanded pit design to capture a total of 2.94Moz • Mine life extended from 6 years to 13 years • GR Engineering to complete Definitive Feasibility Study in March quarter 2012 • Ore body open at depth • Underground mine plan deferred and to be reconfigure
Slide 14: Syama: Oxide Circuit Expansion
SYAMA: OXIDE CIRCUIT EXPANSION For personal use only • Potential to increase Syama’s annual A21 - Quartz Vein Hill production by ~70koz by addition of oxide Oxide mineralisation over 6 km milling circuit A21/QVH 601Koz resource • Resources of 1.0Moz+ along strike north and south of main pit Alpha/Be
Slide 15: Syama: Grid Power Connection
SYAMA: GRID POWER CONNECTION For personal use only • Diesel power generation currently represents ~1/3 of Syama’s cash operating costs • West African power pool interconnection with Cote d’Ivoire under construction and expected to be operational by mid-2012 • Preliminary route between Sikasso and Sy
Slide 16: Ravenswood: Sarsfield Open Pit
RAVENSWOOD: SARSFIELD OPEN PIT For personal use only • Mining ceased in early 2009 with pit designed at A$800/oz • Reserve of 1.0Moz below current pit • Feasibility study investigating potential reopening due to strong gold price • Estimated capital cost $72M to restart mining and treatment • Simple
Slide 17: Nyakafuru
NYAKAFURU For personal use only • Total Resource of 1.0Moz+ located in an area ~120km NW of Golden Pride • Scoping study underway to examine future development options • Ongoing 15,000m drilling campaign to extend resources and test large low grade trend and high grade reefs • Results to date includ
Slide 18: Exploration Projects
EXPLORATION PROJECTS For personal use only • Highly prospective tenure in Africa and Australia which has been underexplored • Strong balance sheet enables renewed focus to unlock value and add exploration premium • Exploration budget for FY12 doubled to $20M • Multiple high quality targets identifie
Slide 19: Syama Regional Exploration Upside
SYAMA REGIONAL EXPLORATION UPSIDE For personal use only • Located in prolific West African Birimian Greenstone Belt • Tenure covers ~75km of the highly prospective and under explored Syama Shear • Multiple resource extension targets along strike to the north and south • Actively pursuing other nearb
Slide 20: Cote d'Ivoire Exploration
COTE D’IVOIRE EXPLORATION For personal use only • Focus on the under explored, World-Class Birimian terrains of West Africa • ~10,000km2 of permits covering over 200km of Greenstone Belts NE of Newcrest Mining’s Bonikro Mine • Broad scale 1km x 1km multi-element sampling targeting large scale deposi
Slide 21: Ravenswood Exploration
RAVENSWOOD EXPLORATION For personal use only • 3000km2 tenure over Ravenswood Goldfield • Numerous Mt Wright-style targets in the region not previously explored for • First target Welcome Breccia intersected a spectacular 113m @ 7.7g/t Au from 316m • Key Projects for testing in next 12 months: − Wel
Slide 22: A Golden Value Opportunity
A GOLDEN VALUE OPPORTUNITY For personal use only • Second largest ASX-listed gold producer by output • 330,000oz annual production growing to 400,000oz+ Koz FY12 Forecast 410Koz @ A$730/oz 500 • 5.2Moz in Reserves supports 10+ years mine life 400 300 200 • 100% unhedged leverage to the strong gold p
Slide 23: Thank You / Disclaimer
THANK YOU For personal use only DISCLAIMER • This presentation includes certain statements, estimates and projections with respect to the future performances of Resolute Mining. Such statements, estimates and projections reflect various assumptions concerning anticipated results, which assumptions m
Slide 24: JORC Reserves – June 2011
JORC RESERVES – 30 JUNE 2011 Gold Reserves Project Resolute Group Resolute Group For personal use only (includes stockpiles) Project Gold grade Contained Share Share Tonnes (g/t) Ounces Gold % ounces RESERVES Reserves ( Proved) Australia Mt Wright (insitu) 2 5,180,000 2.8 466,000 100% 466,000 Sarsfi
Slide 25: JORC Resources – June 2011
JORC RESOURCES – 30 JUNE 2011 Resolute Resolute Resolute Resolute For personal use only Gold Resources 1 Project Group Group Gold Resources 1 Project Group Group (includes stockpiles) Project Gold grade Contained Share Share Gold Tonnes (g/t) Ounces Gold % Ounces (includes stockpiles) Project grade