Saracen Mineral Holdings Limited

Saracen Mineral — Doray Minerals — Diggers and Dealers 2016

35 slides from Saracen Mineral's conference presentation, Aug 1, 2016

  1. Slide 1: Building Australia's next great gold company

    Building Australia’s next great gold company Doray Minerals Limited Diggers and Dealers – 1st August 2016

  2. Slide 2: Disclaimer

    Disclaimer This presentation has been prepared by Doray Minerals Limited (“Doray”) to provide an update regarding the company to investors. Presentation information: This presentation is for information purposes only and does not constitute a prospectus or prospectus equivalent document. The informa

  3. Slide 3: Doray Minerals - Building Australia's next great gold company

    Doray Minerals - Building Australia’s next great gold company High-grade gold producer • Deflector – Australia’s newest high-grade gold mine • Andy Well – high-grade gold operation Proven project developer • Funded and built 2 new gold mines within 4 years • Track record of securing funding and rapi

  4. Slide 4: Track record of delivery

    Track record of delivery Since listing in early 2010 as a greenfields exploration company, Doray has:  Discovered, funded and built one of the highest grade gold mines in Australia at Andy Well;  Consistently met production and cost guidance  Had ongoing exploration success across a number of pro

  5. Slide 5: A transformational year for our Company

    A transformational year for our Company… In the last 12 months we have:  Funded, built and commissioned our second high-grade gold operation at Deflector  Achieved production and cost guidance at Andy Well whilst maintaining an excellent safety track record  Been awarded “Mine of the Year” for An

  6. Slide 6: Rerating underway

    Rerating underway… Significant increase in share price and liquidity Doray XGD ASX200  Doray’s share price has risen significantly since Deflector funding completed (@40c)  Significant increase in average daily trading volume - Increased interest from off-shore investors  Remains undervalued agai

  7. Slide 7: Doray Minerals Limited - Corporate Snapshot

    Doray Minerals Limited - Corporate Snapshot ASX Code DRM Board/Management Shares on Issue 310.7M Peter Lester Non-Exec Chairman Market Cap (@$1.05) A$326M Allan Kelly Managing Director (Founder) Cash/gold (Jun 16) A$39.8M Peter Alexander Non-Exec Director Debt (Jun 16) A$80.5M Leigh Junk Non-Exec Di

  8. Slide 8: The Australian gold producer advantage

    The Australian gold producer advantage  Australian gold producers are enjoying record high AUD gold prices  Doray's current hedging profile protects against future volatility whilst remaining exposure to gold price upside  Margins of >A$600/oz are achievable in the current environment  Significa

  9. Slide 9: Deflector Gold Project

    Australia’s newest high-grade gold mine Deflector Gold Project

  10. Slide 10: Deflector Gold Project - Location

    Deflector Gold Project - Location Deflector Project Doray Minerals Limited | ASX: DRM 10

  11. Slide 11: Deflector - delivered on schedule and within budget

    Deflector – delivered on schedule and within budget Funded, built and commissioned within 14 months of completion of takeover… Mar 15 Aug 15 Feb 16 May 16 Jul 16 • Takeover of • Site works • Open pit • First gold • First Mutiny commence mining pour concentrate completed • Debt/Equity • Off-take ship

  12. Slide 12: Deflector - Delivered on schedule and within budget

    Deflector – Delivered on schedule and within budget Doray Minerals Limited | ASX: DRM 12

  13. Slide 13: Deflector - Australia's newest high-grade gold mine

    Deflector – Australia’s newest high-grade gold mine Utilising the Andy Well experience to optimise funding, construction and operation Doray Minerals Limited | ASX: DRM 13

  14. Slide 14: Deflector - Summary processing flowsheet

    Deflector – Summary processing flowsheet Flotation circuit Average LOM throughput 454ktpa (480ktpa design capacity) Average LOM gravity recovery ~60% 60kozpa Au 2,500tpa Cu Au-Cu concentrate stockpile Doray Minerals Limited | ASX: DRM 14

  15. Slide 15: Deflector - the first 18 months

    Deflector - the first 18 months… Mar 16 Jun 16 Sep 16 Dec 16 Mar 17 Jun 17 Mining • Open pit • U/G Processing • Open pit oxide • Open pit trans. • U/G trans. • U/G fresh Doray Minerals Limited | ASX: DRM 15

  16. Slide 16: Deflector - Substantial exploration upside

    Deflector - Substantial exploration upside Under-explored greenstone belt with multiple opportunities DEFLECTOR Gullewa Greenstone Belt new geological interpretation Doray Minerals Limited | ASX: DRM 16

  17. Slide 17: Exploration - Deflector Corridor EM Survey

    Exploration – Deflector Corridor EM Survey DEFLECTOR Doray Minerals Limited | ASX: DRM 17

  18. Slide 18: Andy Well Gold Project

    High-grade Australian gold operation Andy Well Gold Project

  19. Slide 19: Andy Well - high-grade Australian gold operation

    Andy Well – high-grade Australian gold operation The first 3 years:  Excellent safety record >1,000 days LTI-free  Production meets guidance and exceeds BFS • 2014FY – 76,785 oz @ AISC A$1,044/oz • 2015FY – 88,736 oz @ AISC A$1,165/oz • 2016FY – 84,135 oz @AISC A$1,229/oz  Processing plant runnin

  20. Slide 20: Mining Progress vs Conceptual Mine Plan

    Mining Progress vs Conceptual Mine Plan Suzie Upper Middle Suzie U/G Judy Wilber ~750m Judy Deeps Middle Deeps Wilber Deeps Doray Minerals Limited | ASX: DRM 20

  21. Slide 21: Quarterly Production Metrics - Project to date

    Quarterly Production Metrics – Project to date Production to date vs BFS Mill Throughput vs Recovery 300,000 100,000 120 250,000 80,000 100 80 200,000 60,000 60 150,000 40,000 40 100,000 20,000 20 50,000 0 0 0 2014 2015 2016 cumulative prod'n BFS cumulative prodn tonnes milled recovery Mining Millin

  22. Slide 22: Meeting guidance...but room for improvement

    Meeting guidance…but room for improvement! 1800 35,000  2016FY production and costs within guidance • 1600 30,000 84,135oz @ 8g/t 1400 • C1 A$665/oz 25,000 • AISC A$1229/oz 1200  Elevated June Qtr AISC 1000 20,000 • Increased ground support whilst mining 800 remnant 20 sub-levels 15,000 • Increase

  23. Slide 23: Andy Well - Growing a high-grade gold camp

    Andy Well – Growing a high-grade gold camp 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 Feb-10 Feb-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Cumulative production Andy Well Resource Doray Minerals Limited | ASX: DRM 23

  24. Slide 24: Wilber Lode drilling intersects new high-grade zone

    Wilber Lode drilling intersects new high-grade zone High-grade quartz lodes continue at depths of >750m below surface *See ASX release dated 2 June 2016 Doray Minerals Limited | ASX: DRM 24

  25. Slide 25: Andy Well - Gnaweeda emerging as a potential satellite operation

    Andy Well – Gnaweeda emerging as a potential satellite operation  Maiden Inferred Resource for Turnberry : • 4.6Mt @ 1.8g/t Au for 266,000 oz  High-grade intersections beneath shallow depletion zone: • 10m @ 18.9g/t • 7m @ 41.6g/t • 41m @ 4.8g/t • 9m @ 10.4g/t  15km from Andy Well processing plan

  26. Slide 26: Exploration and Growth

    Building on our success Exploration and Growth

  27. Slide 27: Exploration and Growth Strategy

    Exploration and Growth Strategy One of Doray’s key points of difference is our commitment to greenfields exploration and discovery as a source of future production growth Near-term mine-life extensions Mid-term production opportunities Andy Well in-mine Andy Well near-mine Long-term blue-sky Horse W

  28. Slide 28: A$15.5M Exploration Budget for 2017FY

    A$15.5M Exploration Budget for 2017FY Comprehensive drilling campaigns testing a number of targets Sep Dec Mar Jun in-mine DD Andy Well RC near-mine aircore RC in-mine DD Deflector RC RC near-mine DD aircore RC Horse Well JV DD aircore aircore RC Mt Fisher JV aircore aircore West Gawler aircore airc

  29. Slide 29: Building a project portfolio in the north eastern goldfields

    Building a project portfolio in the north eastern goldfields Doray Minerals Limited | ASX: DRM 29

  30. Slide 30: Horse Well - a new greenfields gold discovery?

    Horse Well – a new greenfields gold discovery?  JV with Alloy Resources (ASX:AYR) in NE goldfields • Doray 60% (opportunity to earn 80% by spending $2M over next 12 months)  Geological and structural similarities to highly endowed Yandal Belt with Granny Smith and Jundee deposit analogues  Dusk ‘

  31. Slide 31: Mt Fisher - new JV over under-explored gold project

    Mt Fisher – new JV over under-explored gold project Geological and structural similarities to multi-million ounce Agnew/Lawlers gold camp * Refer ASX Announcement dated 16 May 2016 31 Doray Minerals Limited | ASX: DRM

  32. Slide 32: West Gawler, South Australia - elephant country

    West Gawler, South Australia – “elephant country” Landmark farm-in over highly prospective and underexplored land position  Farm-in with Iluka Resources (ASX:ILU) • Doray earning 80% by spending $7M over 6 years  20,000sqkm land position with geological similarities to Tropicana and Fraser Range 

  33. Slide 33: 2017FY Outlook

    2017FY Outlook  Deflector • Production and concentrate shipments ramp-up • Open pit completed - Nov/Dec • Underground production commences – Dec/Jan  Andy Well • 100% U/G production for first time • Cost reduction programme underway  Exploration and Growth - $15M exploration budget • Further dril

  34. Slide 34: Doray - Building Australia's next great gold company

    Doray – Building Australia’s next great gold company High grade gold producer - proven project developer – award winning explorer  Doray is on the cusp of a significant increase in production and cash flow from mid-2016CY with ramp-up of production from Deflector • Capacity to generate significant

  35. Slide 35: www.dorayminerals.com.au

    Building Australia’s next great gold company www.dorayminerals.com.au For further information contact: Cameron Peacock Investorrelations@dorayminerals.com.au

Doray Minerals — Diggers and Dealers 2016 on 6ix