Slide 1: Mount Morgan Gold & Copper Project: Restarting Operations at the Mount Morgan Mine
For personal use only Mount Morgan Gold & Copper Project IMARC 2015 Presentation: Restarting Operations at the Mount Morgan Mine N ove m b e r 2 0 1 5
Slide 2: Disclaimer
DISCLAIMER For personal use only Mineral Resources The Indicated and Inferred Resources referred to in this presentation were presented by Norton Gold Fields Limited at the Mining 2009 Resource Convention (Brisbane). The presentation was released to the ASX on 28 October 2009 and is available for vi
Slide 3: Carbine Snapshot: Experienced Board & Management
CARBINE SNAPSHOT Experienced Board & Management For personal use only Share Price History Board & Management 0.09 2,500 Patrick Walta Executive Director 0.08 2,000 Evan Cranston NED Volume ('000s) 0.07 Share Price 0.06 1,500 Tom Bahen NED 0.05 1,000 Stephen Dobson NED 0.04 500 Terry Moylan Chief Ope
Slide 4: Mount Morgan Mine Overview
MOUNT MORGAN MINE Overview For personal use only Historic QLD gold mine - close proximity to infrastructure, cities, ports & rail Primary deposit mined for ~100 years (8.4Moz Gold, 400kt Copper) Mineralised Tailings: ~40Mt deposited on site Significant environmental legacy, 100% owned by QLD governm
Slide 5: Mining History
MINING HISTORY Timeline: Mount Morgan Site Operations Vs Gold Price For personal use only Closure of open pit Shutdown of tailings QLD Gov. accepts enviro. Perilya transfers Acquired by Norton Acquired by mining operations re-treatment plant liability ownership licences to Moonraker Gold Fields ( ~$
Slide 6: Significant Resource Base
SIGNFICANT RESOURCE BASE Tailings resource: Deposit at surface, already crushed & ground For personal use only Resources Tonnes Au (g/t) Cu (%) Au (oz) Cu (t) JORC RESOURCES 8.4 Mt 1.23 0.15% 329,000 12,300 NON-JORC HIGH GRADE RESOURCS Low 4.7 Mt 1.54 0.12% 231,000 5,700 (Exploration Target)* High 5
Slide 7: Unlocking the Value: Carbine's Process Solution
UNLOCKING THE VALUE For personal use only Carbine’s Process Solution: Reverse Leach IX – CIL ION EXCHANGE (IX) Extract copper prior to gold circuit Developed in the Former Soviet Union Ion exchange technology solves soluble copper issue 60+ years of IX technology provides: operating history 30+ full
Slide 8: IX-CIL Flowsheet
IX-CIL FLOWSHEET Addressing the soluble copper issue For personal use only Multiple by-products = Low All-in Sustaining Costs
Slide 9: Pre-Feasibility Study Results
PRE-FEASIBILTY STUDY RESULTS Completed by GR Engineering For personal use only Production Parameters Value Notes Mine Life 8 years JORC resources only Annual Throughput 1,000,000 t/yr Based on available JORC resources 31,200 oz/yr Gold Average Production 3,200 tpa Copper Sulphate 211,000 tpa Pyrite
Slide 10: All-In Sustaining Cost
ALL-IN SUSTAINING COST High margin operations only 900 US$680/oz 800 Operating Costs (No By-Product Credits) use 700 600 US$653/oz All-in Sustaining Costs For personal 500 (Copper Credits Only) US$/oz 400 300 US$234/oz 200 All-in Sustaining Costs 100 (Copper & Pyrite Credits) 0 Operating Royalties S
Slide 11: Pyrite Offtake
PYRITE OFFTAKE Underpins low cost operation For personal use only Binding Agreement Fully Commits Mount Morgan Pyrite Four year contract – up to 225,000tpa To be exported through Port of Gladstone Sale price – US$80/t FOB Gladstone Port (~US$20/t logistics) 90% payment at mine gate, Letter of Credit
Slide 12: Mine Water Treatment
MINE WATER TREATMENT $1.25 Million per annum near term cashflow generation For personal use only Long term service agreement to operate existing site water treatment plant 10 year contract – treating up to 500ML per annum (revenue of $2,500/ML before costs) Targeting further improvement in volume an
Slide 13: History Repeats…
HISTORY REPEATS… Using the success of the past in restarting operations For personal use only 1927 2016 (planned) Underground → Open Pit Operaons Primary Ore → Tailings Operaons Gold production main focus Gold production main focus Initial revenue via copper cement production Initial revenue via cop
Slide 14: Mine Development Planning
MINE DEVELOPMENT PLANNING Final feasibility & financing process underway For personal use only Highlights 2014 2015 2016 2017 Timeline Confirmed US$234 AISC via PFS Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 + Binding pyrite offtake – A$25M Scoping Study per annum revenue PFS Drilling Program Employed key techni
Slide 15: Mount Morgan Summary
MOUNT MORGAN SUMMARY Value Proposition For personal use only Significant 8.4Mt JORC Resource base (<30% of known mineralisation on site) Resource Base Up to +1Moz Au & 80,000t Cu tailings resource Robust Project Two independent studies & three phases of independent testwork Economics All- All-In Sus
Slide 16: Contact
For personal use only Contact Patrick Walta Executive Director Ph: Ph: +61 8 6142 0986 Carbine Resources Limited Suite 23 513 Hay Street Subiaco WA 6008 Unlocking significant metal value left behind after 100+ years of operations