Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Shareholder Meeting (November 2019)
15 slides from Middle Island Resources's shareholder meeting presentation, Nov 28, 2019
Slide 1: Exploring Golden Frontiers: Towards a Sandstone Recommissioning
For personal use only Exploring Golden Frontiers Middle Island Resources Towards a Sandstone Recommissioning AGM - November 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 1,177M Unlisted Options 406M Number of Shareholders 640 Top 20 Shareholders 70% Institutions 20% Directors 10% Cash & Liquid Investments (at 26/11/19) A$0.8M Market Cap (at 0.6cps on 26/11/19) A$7.06M 3 3
Slide 4: Location & Tenure
Sandstone Gold Project - Location & Tenure For personal use only • 11km south of Sandstone, 400km NW of Kalgoorlie. • Sealed highway between Mt Magnet & Leinster. • 100% interest in 191km2. • Includes two fully permitted Mining Leases that pre-date Native Title. • Existing gold processing plant on s
Slide 5: Processing Plant & Infrastructure
Sandstone Gold Project - Processing Plant & Infrastructure • 600,000tpa CIP plant on For personal use only care & maintenance. • Includes conventional grinding, milling & leach circuits. • Refurbishment costs of $10.3M, including owner’s costs & contingency. • 5 months to refurbish mill & infrastruc
Slide 6: Processing Plant & Infrastructure
Sandstone Gold Project - 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 storage facility & bore field. • Fully equipped camp (acco
Slide 7: Mineral Resources
Sandstone Gold Project – Mineral Resources • 2004 & 2012 JORC Mineral For personal use only Resources of 537,000oz gold. • *Exploration Target of 900,000oz to 1.5Moz gold. • Four defined open pit deposits aggregating 125,300oz (JORC 2012). • Stand-alone PFS update commenced, based on positive pit re
Slide 8: Strategy & Vision
Sandstone Gold Project – Strategy & Vision For personal use only Strategy & Vision comprises three sequential elements:- Recommission the Sandstone gold plant at the earliest opportunity via stand- alone PFS update &/or consolidation of proximal third party deposits &/or exploration. Consolidate
Slide 9: Strategy & Vision
Sandstone Gold Project – Strategy & Vision • Sandstone only plant For personal use only within 150km; central processing hub. • At least 15 stranded gold deposits aggregating 1.8Moz within 100km. • Based on published (JORC 2012) Mineral Resources. • Actively pursuing any or all of four consolidation
Slide 10: Two Mile Hill Tonalite
Sandstone Gold Project - Two Mile Hill Tonalite For personal use only • Tonalite plug, 250m x 90m & 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 11: Two Mile Hill BIF
Sandstone Gold Project - Two Mile Hill BIF • High grade gold hosted For personal use only in BIF units immediately adjacent to tonalite. • Gold associated with pyrite replacement of magnetite horizons. • True width intercepts include:- - 22m at 24g/t - 8m at 56g/t - 5m at 27g/t - 5m at 22g/t • Multi
Slide 12: Exploration Potential
Sandstone Gold Project – Exploration Potential For personal use only • Three priority gravity targets identified from 3D inversion modelling, interpreted to represent potential mineralised intrusives, proximal to Two Mile Hill tonalite. • Aircore drilling of 11 weights of evidence targets recently c
Slide 13: Barkly Copper-Gold Super-Project
Barkly Copper-Gold Super-Project • New applications For personal use only aggregating 3,912km² between Tennant Creek & Mount Isa. • First-mover in highly prospective East Tennant iron oxide-copper-gold (IOCG) province. • Competing applications with Rio Tinto & Newcrest endorse merit & strategy. • Po
Slide 14: Corporate - Investment Rationale
Corporate - Investment Rationale For personal use only • Market Capitalisation of A$7.33 million (as at 10/10/2019). • Enterprise Value (EV) of *A$13 per resource ounce gold. • Peer average EV (explorers & developers) of *A$51 per resource ounce gold. • Pro-forma MDI EV of A$28.8 million. • Excludes
Slide 15: Corporate - Investment Rationale
Corporate - Investment Rationale For personal use only • Sandstone Project 100% owned. • 600,000tpa processing plant; fully permitted, operating licence. • JORC Mineral Resources of 537,000oz gold. • Exploration Target of 900,000oz to 1.5Moz gold. • Stand-alone PFS update in progress, following posi
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