Belo Sun Mining Corp. · TSX:BSX
Belo Sun Mining — Investor Presentation (July 2015)
30 slides from Belo Sun Mining's investor presentation, July 2015
Slide 1: Corporate Presentation July 2015
Corporate Presentation July 2015 Developing an Open Pit Gold Project in Brazil TSX: BSX
Slide 2: Cautionary Notes
Cautionary Notes All statements, other than statements of historical fact, contained or incorporated by reference in this presentation, but not limited to, any information as to the future financial or operating performance of Belo Sun, constitute ‘‘forward-looking information’’ or ‘‘forward-looking
Slide 3: Overview: Belo Sun & Volta Grande Project
Overview: Belo Sun & Volta Grande Project Strong mining country with low geopolitical risk Gold project located in Para State, the 2nd most active mining state in Brazil Extensive land package on greenstone belt Mining concessions cover over 120 km of belt Focus on fast-track development to prod
Slide 4: Mine Friendly Jurisdiction
Mine Friendly Jurisdiction Brazil has the 7th largest economy in the world, following the US, China, Japan, Germany, France and the UK (2014 World GDP Ranking) Gold producer #2 in Latin America From 2002 to 2012, mining production Gold producer Volta Grande revenues increased 900% from #11 in th
Slide 5: Volta Grande Project Location
Volta Grande Project Location Brazil Pará State Belém Altamira Manaus Belém Volta Grande Project Altamira Volta Grande Project São Paulo Rio de Janeiro TSX: BSX | 5
Slide 6: Site Location - Infrastructure
Site Location - Infrastructure Altamira Xingu River Belo Monte Dam Project Site Volta Grande (160,407 ha) TSX: BSX | 6
Slide 7: Altamira
Altamira BELOV aT TSX: BSX |
Slide 8: Altamira Airport
4 Ww ~ BELOV MINING Altamira Airport TSX: BSX |
Slide 9: Feasibility Study Results
Feasibility Study Results
Slide 10: Feasibility Study Highlights
Feasibility Study Highlights (1) Production Average LOM annual gold production of 205,000 oz; 17 year mine life First 10 years: 268,000 oz gold annually Proven & Probable Mineral Reserves of 3.8 million oz at 1.02 g/t (1) Economics Pre-Tax IRR of 36%; Post-Tax IRR of 26% ($1,200 / oz Au) P
Slide 11: Gold Price Sensitivity
Gold Price Sensitivity (1) High Case Base Case Low Case Gold Price (per oz) $1,300 $1,200 $1,100 Pre-Tax NPV (5% disc.) $1,147 million $918 million $688 million Pre-Tax IRR 43% 36% 29% Post-Tax NPV (5% disc.) $830 million $640 million $447 million Post-Tax IRR 32% 26% 20% Post-Tax Payback 3.3 years
Slide 12: Mineral Reserve Estimates
Mineral Reserve Estimates Classification Tonnes Gold Grade Contained Gold Proven 41,757,000 1.07 g/t 1,442,000 oz Probable 74,212,000 0.98 g/t 2,346,000 oz Proven + Probable 115,969,000 1.02 g/t 3,788,000 oz *This mineral reserve estimate is as of March 25, 2015 and is based on the new mineral resou
Slide 13: Aerial View - Mine Infrastructure Location
Aerial View - Mine Infrastructure Location Ouro Verde Pit Waste Dump Tailings Grota Seca Pit Waste Dump Processing Water Pond Facility TSX: BSX | 13 Notes: See Cautionary Notes on slide 2.
Slide 14: Proposed Mine Location: Excellent Topography
Proposed Mine Location: Excellent Topography Excellent topography for mine infrastructure TSX: BSX | 14
Slide 15: Simplified Process Flow Diagram
Simplified Process Flow Diagram Open Pits Stockpile Milling Crushing Tailings Pond Carbon in Pulp Gold Recovery Leach Circuit Loaded Carbon Stripped Carbon Carbon Stripping Carbon & Electrowinning Reactivation TSX: BSX | 15 Notes: See Cautionary Notes on slide 2.
Slide 16: Estimated Timeline to Production
Estimated Timeline to Production 2015 2016 2017 2018 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EIA Approval Receipt of Preliminary Licence (LP) Updated Mineral Resource Completion of Feasibility Study Construction Licence Submission Funding Preparation Construction Licence Approval E
Slide 17: Regional Geology & Exploration Upside
Regional Geology & Exploration Upside
Slide 18: Located Within a Large Gold Belt
Located Within a Large Gold Belt Amazon Basin Altamira Três Palmeiras Volta Grande Project Greenstone Belt Parnaíba Basin 120km strike Tapajós Province Bacajá Domain Carajás Domain Araguaia-Paraguai Três Palmeiras Greenstone Belt Belt 1 km to 8 km wide Over 120 km strike Rio MariaDomain Datum: U
Slide 19: Only Small Area of Property Drilled
Only Small Area of Property Drilled Geology 19 * See Cautionary Notes
Slide 20: Mineral Resource Location
Mineral Resource Location OURO VERDE GREIA JUNCTION Excellent mineral growth potential GROTA SECA The Mineral Resource used in the Feasibility Study considers the Ouro Verde, Junction and Grota Seca zones. TSX: BSX | 20
Slide 21: Mineral Resources (0.4 g/t cut-off)
Mineral Resources (0.4 g/t cut-off) Ounces Contained Category Grade (g/t) Tonnes (M.T.) (Koz) Saprolite Measured 0.96 0.75 23 Saprolite Indicated 0.78 0.71 18 Fresh Rock Measured 1.16 18.53 693 Fresh Rock Indicated 1.06 52.58 1,794 Ouro Verde Total Measured and Indicated 1.08 72.57 2,528 Saprolite I
Slide 22: Mineral Resources (0.4 g/t cut-off) (Cont'd)
Mineral Resources (0.4 g/t cut-off) (Cont’d) Ounces Contained Category Grade (g/t) Tonnes (Mt) (Koz) Saprolite Measured 1.53 0.00 0 Saprolite Indicated 0.78 0.21 5 Fresh Rock Measured 0.71 0.27 6 Fresh Rock Indicated 0.77 2.95 73 Junction Total Measured and Indicated 0.77 3.44 84 Saprolite Inferred
Slide 23: Future Mineral Growth Targets
Future Mineral Growth Targets OURO VERDE GREIA 1 Mineral growth along strike (emphasis on Junction) JUNCTION Mineral growth in Greia 2 GROTA SECA Explore and upgrade 3 South Block target Grassroots exploration drilling elsewhere on the greenstone belt 4
Slide 24: Appendices
Appendices
Slide 25: Independent Research Coverage
Independent Research Coverage TD Securities Dan Earle CIBC Jeff Killeen BMO Capital Markets Brian Quast National Bank Financial Shane Nagle Cormark Securities Richard Gray Canaccord Genuity Eric Zaunscherb Dundee Capital Markets Joseph Fazzini Macquarie Capital Markets Michael Gray Scotiabank Global
Slide 26: Capital Structure
Capital Structure Capitalization Summary: Shares Outstanding 359.6 million Fully Diluted 388.6 million Stock Performance: Share Price $0.20* Market Capitalization $72 million 52 Week High & Low $0.30- $0.11 Average Daily Volume (3 month) 1,000,000 Cash & Cash Equivalents: $17.7 million** *As at July
Slide 27: Experienced Board & Management
Experienced Board & Management Management Team Peter Tagliamonte, P.Eng. MBA, President & CEO, Director 30 years of mine development and operations experience. Former CEO of Sulliden Gold, Central Sun Mining and COO of Desert Sun. Ryan Ptolemy, Chief Financial Officer Certified General Accountan
Slide 28: Project Development
Project Development PFS PEA Feasibility Study (May 2013) (March 2014) (March 2015) Initial Plant Throughput 7 Mt/a 3 Mt/a 3.5 Mt/a Final Plant Throughput 7 Mt/a 6 Mt/a 7 Mt/a Average Annual Gold Production 264,500 oz 167,300 oz 205,000 oz Mine Life 10 years 21 years 17 years Gold Price (USD/oz) $1,4
Slide 29: Cost per Tonne, Grade and Annual Production
Cost per Tonne, Grade and Annual Production $30.00 1.80 300,000 275,000 1.60 $25.00 250,000 Cost per Tonne Ore Milled 1.40 225,000 Ounces Produced $20.00 1.20 200,000 Grade (g/t) 175,000 1.00 $15.00 150,000 0.80 125,000 $10.00 0.60 100,000 75,000 0.40 $5.00 50,000 0.20 25,000 $- - - 1 2 3 4 5 6 7 8
Slide 30: TSX: BSX
Corporate Headquarters 65 Queen Street W. Peter Tagliamonte Suite 800 President & CEO TSX: BSX Toronto, ON M5H 2M5 pwt@belosun.com belosun.com