Regis Resources Limited · ASX:RRL
Regis Resources — Shareholder Meeting (November 2014)
20 slides from Regis Resources's shareholder meeting presentation, Nov 28, 2014
Slide 1: Annual General Meeting 28 November 2014
For personal use only ANNUAL GENERAL MEETING 28 NOVEMBER 2014 MARK CLARK MANAGING DIRECTOR
Slide 2: Disclaimer & Competent Person Statement
DISCLAIMER & COMPETENT PERSON STATEMENT For personal use only This presentation contains only a brief overview of Regis Resources Limited and its associated entities (“Regis or RRL") and their respective activities and operations. The contents of this presentation, including matters relating to the
Slide 3: 2014 – A Tough Year
2014 – A TOUGH YEAR For personal use only • Flooding of Garden Well & Rosemont North pits • Grade challenges at Garden Well & Rosemont North But in spite of that: • Produced 270,759 ounces • Operating cash flow $160m ($587/oz) • Balance sheet remains robust • Capital expenditure programmes complete
Slide 4: 2014 Cash Flow
2014 CASH FLOW For personal use only $250.0m $159.6m ($122.7m) Payments $200.0m discretional, not $150.0m repeating or ($74.7m) tailing off in 2015 $100.0m $61.2m $50.0m $40.0m ($32.0m) ($14.1m) ($10.2m) ($6.1m) $5.6m - ($50.0m) 4
Slide 5: Duketon Capex Projects Completed
DUKETON CAPEX PROJECTS COMPLETED For personal use only Garden Well Rosemont 160 140 120 100 No new 80 Moolart Well capex 60 projects in 2015 40 20 0 2010 2011 2012 2013 2014 2015F Exploration Development Fixed assets Mine properties & development 5
Slide 6: 2014 Financial Year
2014 FINANCIAL YEAR For personal use only BALANCE SHEET (30 JUNE 2014) Cash and gold bullion $14m Debt ($40m) PROFIT & LOSS Unaudited profit before tax & impairment $79m NCA impairment charge net of tax $203m 6
Slide 7: Flooding February 2014
FLOODING FEBRUARY 2014 For personal use only Rainfall • 165mm in 36 hours • 130mm in 14 hours • A 1 in 150 year rainfall event • Larger than any recorded 36 hour rainfall event at either Laverton or Leonora Flooding • GW >4.7million cubic metres • (2,000 Olympic swimming pools) • RMT North >0.6m cub
Slide 8: Garden Well - February 2014
GARDEN WELL - FEBRUARY 2014 For personal use only 8
Slide 9: June 2014 – Looking North
30 JUNE 2014 – LOOKING NORTH For personal use only Water level 430mRL 380mRL 9
Slide 10: June 2014 – Looking East
30 JUNE 2014 – LOOKING EAST For personal use only Water level 430mRL 385mRL 10
Slide 11: Remediation Works
REMEDIATION WORKS For personal use only • Bunding and flood diversion drains repaired and upgraded. • Pump out of flooded pits completed: • Rosemont March • Garden Well May • Mine off of deposited sludge and sediment: • Rosemont May • Garden Well late June • Total cost of around $5m • Significant lo
Slide 12: 2014 Reserve Update
2014 RESERVE UPDATE For personal use only • 75.4MT at 1.04g/t for 2.53 million ounces1 • No reduction in contained ounces from 2013 (net of depletion) • Model updated to reflect operating history and reconciliation • Grade reduced - model update & adoption of 0.4g/t lower cut (2013: 0.5 - 0.6) 3.0 0
Slide 13: 2015 Production Guidance
2015 PRODUCTION GUIDANCE For personal use only Moolart Garden Rosemont Total Well Well Mill throughput 2.6 – 2.8 4.9 – 5.1 1.7 – 2.0 9.2 – 9.9 (million tonnes) Grade (g/t) 1.2 – 1.3 1.0 – 1.1 1.3 – 1.5 1.11 – 1.23 Recovery (%) 91 – 93 91 – 93 91 – 93 91 – 93 Gold 95 – 105 145 – 165 65 – 85 305 – 355
Slide 14: September 2014 Quarter
SEPTEMBER 2014 QUARTER For personal use only Moolart Well Garden Well Rosemont Tonnes milled (T) 740,803 1,232,275 534,919 Grade (g/t) 1.47 0.96 1.69 Recovery (%) 94 78 91 Gold produced (oz) 32,686 29,816 26,316 Cash cost pre royalties ($/oz) 477 1,062 719 • Record production of 88,818 oz at cash co
Slide 15: 2015 Operations Focus
2015 OPERATIONS FOCUS For personal use only 1. Achieve steady state operations in mining and processing. 2. Drive the cost base lower from steady state. 3. Push for the last capacity opportunities. 4. Work to bring satellite resource positions in to mine plan. 5. Production replacement drilling in o
Slide 16: McPhillamys Gold Project
MCPHILLAMYS GOLD PROJECT For personal use only • Acquisition completed Nov12 • 250km west of Sydney • 35km from each of Orange & Bathurst • 3 granted leases • 420 km2 of ELs • 2.2 Moz resource1 • Project covered by freehold farmland Note 1 full break down in accordance with JORC set out in Appendix
Slide 17: McPhillamys Project Status
MCPHILLAMYS PROJECT STATUS For personal use only • Gold price fallen >20% since purchase • Review of status and strategy based on all variables including grade: • Project potentially viable • Subject to infrastructure requirements • ROI doesn’t meet board hurdle rate at current time • Not moving to
Slide 18: 2015 Corporate Focus
2015 CORPORATE FOCUS For personal use only 1. Operational predictability. 2. Cash flow. 3. Debt reduction. 4. Move towards reactivation of dividends, if & when appropriate. 5. More active pursuit of growth opportunities. 18
Slide 19: Appendix: JORC Reserves June 2014
APPENDIX 1 JORC RESERVES 30 JUNE 2014 For personal use only 19
Slide 20: Appendix: JORC Resources June 2014
APPENDIX 2 JORC RESOURCES 30 JUNE 2014 For personal use only Gold Measured Indicated Inferred Total Resource Gold Gold Gold Competent Cut-Off Tonnes Gold Grade Tonnes Gold Grade Tonnes Gold Grade Tonnes Gold Grade Gold Metal Project Type Metal Metal Metal Person3 (g/t) (Mt) (g/t) (Mt) (g/t) (Mt) (g/
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