Millennium Minerals — Shareholder Meeting (May 2019)
19 slides from Millennium Minerals's shareholder meeting presentation, May 2019
Slide 1: Driving growth at Nullagine
Driving growth at Nullagine ► Two key expansion projects underway ► Rising gold production ► Highly leveraged to A$ gold price ------------------------------------------- 2019 Annual General Meeting 1
Slide 2: Investment Overview
Investment Overview Operating the Nullagine Gold Project in the world- class Pilbara region of Western Australia Key growth initiatives ramping-up – Sulphide Plant expansion, underground mining Revised production guidance for CY19 of 80-90koz at AISC A$1370-1450/oz Growing Reserve inventory – 375,00
Slide 3: Strong gold production in the East Pilbara
Strong gold production in the East Pilbara ✓A strategy for growth ► Growth initiatives focused on increasing head grade and recovery efficiency ► First UG mine at Bartons now ramping up ► Commissioning of low CAPEX/OPEX upgrade to processing plant underway to enable processing of significant sulphid
Slide 4: Corporate Overview
Corporate Overview Shares on Issue Market Cap (A$0.12/share) 891M ~A$107M Cash, bullion and available Debt financing facilities (31 Mar 19) A$16.8M A$15M* ASX Index ASX Code All Ords MOY Key Shareholders Board and Management Key Consultants and Contractors Greg Bittar Non-Executive Chairman Ausenco
Slide 5: Moving Underground
MOVING UNDERGROUND 5
Slide 6: Bartons – The First Underground Mine at Nullagine
Bartons – The First Underground Mine at Nullagine ► Resource of 750,000t @ 4.1g/t Au for 99,400oz ► Mineralisation open at depth and along strike ► All deeper holes have successfully intersected the main ore zone and continue to define extensions ► First phase underground drilling completed targetin
Slide 7: Bartons – The First Underground Mine at Nullagine
Bartons – The First Underground Mine at Nullagine ► 300kt (15% of FY19 feed) @ 4g/t for 33koz produced (35% of FY19 ounces) ► Mining sequence refined to minimise dilution – move to rapid-turnover short strike panels ► Ore now being mined simultaneously from four stoping fronts across two levels ► Ra
Slide 8: Additional Underground Targets – Pipeline of Organic Growth
Additional Underground Targets – Pipeline of Organic Growth Golden Gate Mining Centre Maiden UG Ore Reserve for Golden Gate Mining Centre to underpin second potential UG mine at Nullagine Golden Gate Mining Center Condor Red Beard Bartons Twenty Mile Sandy Mining Center Of the 30 deep targets identi
Slide 9: Positive Expansion Study
POSITIVE EXPANSION STUDY millennium
Slide 10: Sulphide Resources – Processing Breakthrough
Sulphide Resources – Processing Breakthrough ► Large sulphide resource inventory ► Processing of pyrite-dominant ore requires addition of a small ($15M) modular concentrating circuit to the tail-end of the existing CIL plant ► Well-understood process ► Three phase expansion: Stage 1a: Concentrator a
Slide 11: Sulphide Resources – Project Update
Sulphide Resources – Project Update ► Concentrator spirals commissioned and gold concentrate production ramping up ► Concentrate grades averaging 13-times average feed grade to the spiral circuit during commissioning period ► Ultra-fine Grind Mills are in place, with final commissioning expected by
Slide 12: Exploration
2 = = Ps g a < Ww millennium
Slide 13: Golden Gate – Potential for a Major New Mining Hub
Golden Gate – Potential for a Major New Mining Hub ► One of the highest-grade open pit ore sources ever mined at Nullagine ► Major drilling program completed to extend high-grade open pit and underground mining potential ► Outstanding new high-grade drill results confirm potential for next undergrou
Slide 14: Exploration – Targeting +5 years Mine life
Exploration – Targeting + 5 years Mine life ► Substantial commitment to exploration ► 40km mineralised corridor – high-grade results spanning ► 9m @ 28.47g/t Au, incl. 3m @ 83.23g/t Au 2m @ 9.8g/t Au, incl. 1m @ 16.6g/t Au entire length ► ► 10.5m at 38.64g/t Au, incl. 5m @ 79.96g/t Au ► Reinterpreta
Slide 15: Key Investment Takeaways
Key Investment Takeaways ► Quality-focused mining strategy – focusing on higher-grade ore sources that will increase head grade and reduce operating costs ► Increasing production and mine life – 3.5 -yr mine life growing to +5 yrs ► Sulphide Plant Expansion – Stage 1 commissioning underway to unlock
Slide 16: Nullagine Gold Project – Mineral Resource Statement (31 Dec 18)
Nullagine Gold Project – Mineral Resource Statement1 (31 Dec 18) 16
Slide 17: Nullagine Gold Project – Ore Reserve Statement (31 Dec 2018)
Nullagine Gold Project – Ore Reserve Statement (31 Dec 2018) 17
Slide 18: Disclaimer & Competent Person's Statement
Disclaimer & Competent Person’s Statement Disclaimer This presentation contains only a brief overview of Millennium Minerals Limited (“Millennium”). The contents of this presentation, including matters relating to the geology of Millennium’s projects, may rely on various assumptions and subjective i
Slide 19: Driving growth at Nullagine
Driving growth at Nullagine ► Two key expansion projects underway ► Rising gold production ► Highly leveraged to A$ gold price ------------------------------------------- 2019 Annual General Meeting 19