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PEEL MINING LIMITED AGM Information 2023
65545_rns_2023-11-21_d6082c6b-da37-43ec-80c9-9e483a7f0352.pdf
AGM Information
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2023 ANNUAL GENERAL MEETING
22ND NOVEMBER 2023
ASX: PEX
IMPORTANT NOTICE DISCLAIMER
These presentation materials and the accompanying verbal presentation (together, the Presentation Materials) have been prepared by Peel Mining Limited (Peel) as at 20TH November 2023 and statements are current only as at that date. Information in the Presentation Materials remains subject to change without notice. Peel has no responsibility or obligation to inform you of any matter arising or coming to its notice, after the date of this document, which may affect any matter referred to in this document. By receiving the Presentation Materials, you acknowledge and represent to Peel that you have read, understood and accepted the terms of this disclaimer. It is the responsibility of all recipients of these Presentation Materials to obtain all necessary approvals to receive these Presentation Materials and receipt of the Presentation Materials will be taken by Peel to constitute a representation and warranty that all relevant approvals have been obtained.
Not an offer
These Presentation Materials are for information purposes only. The Presentation Materials do not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or any other law. The Presentation Materials also do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities. In particular, these Presentation Materials do not constitute an offer to sell or a solicitation to buy, securities in the United States of America.
Summary Information
The Presentation Materials do not purport to be all inclusive or to contain all information about Peel or any of the assets, current or future, of Peel. The Presentation Materials contain summary information about Peel and its activities which is current as at the date of the Presentation Materials. The information in the Presentation Materials is of a general nature and does not purport to contain all the information which a prospective investor may require in evaluating a possible investment in Peel or that would be required in a prospectus or product disclosure statement or other offering document prepared in accordance with the requirements of Australian law or the laws of any other jurisdiction, including the United States of America. While reasonable care has been taken in relation to the preparation of the Presentation Materials, none of Peel or its directors, officers, employees, contractors, agents, or advisers nor any other person (Limited Party) guarantees or makes any representations or warranties, express or implied, as to or takes responsibility for, the accuracy, reliability, completeness or fairness of the information, opinions, forecasts, reports, estimates and conclusions contained in this document. No Limited Party represents or warrants that this document is complete or that it contains all information about Peel that a prospective investor or purchaser may require in evaluating a possible investment in Peel or acquisition of shares in Peel. To the maximum extent permitted by law, each Limited Party expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this document including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this document including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom.
Confidential information
The Presentation Materials are strictly confidential and are intended for the exclusive benefit of the persons to whom they are given. The Presentation Materials may not be reproduced, disseminated, quoted or referred to, in whole or in part, without the express written consent of Peel. By receiving this document, you agree to keep the information confidential, not to disclose any of the information contained in this document to any other person and not to copy, use, publish, record or reproduce the information in this document without the prior written consent of Peel, which may be withheld in its absolute discretion.
Mineral resources reporting of Peel
The Presentation Materials contain estimates of Peel's mineral resources.
The information in the Presentation Materials that relates to the mineral resources of Peel has been extracted from Peel's previous ASX announcements, including the following:
- 17 July 2017 Mallee Bull Resource grows by 65% to 175,000 CuEq
- 26 March 2020 Substantial resource upgrade for Southern Knights
- 16 December 2020 May Day inferred Mineral Resource estimate
- 31 March 2021 May Day indicated Mineral Resource estimate
- 29 November 2021 High grade Maiden Copper Resource at Wirlong
- 9 January 2023 20Mt Resource Base for South Cobar Project
Copies of these announcements are available at www.asx.com.au or https://www.peelmining.com.au/site/investor-centre/asx-announcements. Peel confirms that it is not aware of any new information or data that materially affects the information included in those announcements and, in relation to the estimates of Peel's mineral resources, that all material assumptions and technical parameters underpinning the estimates in the announcements continue to apply and have not materially changed. Peel confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from those announcements.
Please also see the additional disclosures (about mineral resources reporting, and associated JORC requirements) included in slides at the end of the Presentation Materials titled "JORC Code Information" and "Competent Persons Statement".
IMPORTANT NOTICE DISCLAIMER
Industry data
Certain market and industry data used in connection with or referenced in the Presentation Materials may have been obtained from public filings, research, surveys or studies made or conducted by third parties, including as published in industryspecific or general publications. Neither Peel nor its advisers, or their respective representatives, have independently verified any such market or industry data.
Effect of rounding
A number of figures, amounts, percentages, estimates, calculations of value and fractions in the Presentation Materials are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in the Presentation Materials. Financial data
All dollar values are in Australian dollars ("$" or "A$" or "AUD") unless stated otherwise.
Past performance
Past performance metrics and figures (including past share price performance of Peel), as well as pro forma financial information, included in the Presentation Materials are given for illustrative purposes only and should not be relied upon as (and is not) an indication of Peel's or any other Limited Party's (as defined below) views on Peel's future financial performance or condition or prospects. Investors should note that past performance of Peel, including in relation to the historical trading price of Peel shares, production, mineral resources and ore reserves, costs and other historical financial information cannot be relied upon as an indicator of (and provides no guidance, assurance or guarantee as to) future Peel performance, including the future trading price of shares. The historical information included in the Presentation Materials is, or is based on, information that has previously been released to the market.
Future performance and forward looking statements
The Presentation Materials contain forward looking statements about Peel. Often, but not always, forward looking statements can be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding Peel's intent, belief or expectations, plans, strategies and objectives of management, future anticipated exploration and project development, production or construction commencement dates, expected costs or production outputs for Peel (based on, among other things, estimates for the periods specifically referred to in the Presentation Materials), the outcome and effects of the Offer and the future operations of Peel. To the extent that these materials contain forward looking information, the forward looking information is subject to a number of risk factors, including those generally associated with the mining industry. Any such forward looking statement also inherently involves known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to be materially greater or less than estimated (refer to the "Key Risks" section of the Presentation Materials). These factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic factors, increased capital costs and operating costs, the speculative nature of exploration and project development (including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves and the ability to exploit successful discoveries), general mining and development operation risks, closure and rehabilitation risks, changes to the regulatory framework within which Peel operates or may in the future operate, environmental conditions including extreme weather conditions, geological and geotechnical events, and environmental issues, and the recruitment and retention of key personnel, industrial relations issues and litigation.
Any such forward looking statements are also based on assumptions and contingencies which are subject to change and which may ultimately prove to be materially incorrect, as are statements about market and industry trends, which are based on interpretations of current market conditions. Investors should consider the forward looking statements contained in the Presentation Materials in light of those disclosures and not place undue reliance on such statements (particularly in light of the current economic climate and significant volatility, uncertainty and disruption caused by the COVID-19 pandemic and war in Ukraine). The forward looking statements in the Presentation Materials are not guarantees or predictions of future performance and may involve significant elements of subjective judgment, assumptions as to future events that may not be correct, known and unknown risks, uncertainties and other factors, many of which are outside the control of Peel. The forward looking statements are based on information available to Peel as at the date of the Presentation Materials. Except as required by law or regulation (including the ASX Listing Rules), Peel undertakes no obligation to provide any additional or updated information, whether as a result of new information, future events or results or otherwise. Investment risk
The Presentation Materials are not investment or financial product advice (nor tax, accounting or legal advice) and are not intended to be used for the basis of making an investment decision. Recipients should obtain their own advice before making any investment decision.
As noted above, an investment in shares in Peel is subject to investment and other known and unknown risks, some of which are beyond the control of Peel. Peel does not guarantee any particular rate of return or the performance of Peel, nor does it guarantee the repayment of capital from Peel or any particular tax treatment. Prospective investors should have regard to the risks outlined in the Presentation Materials , including the "Key Risks" section, when making their investment decision and should make their own enquires and investigations regarding all information in the Presentation Materials, including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of Peel and the impact that different future outcomes may have on Peel. These risks, together with other general risks applicable to all investments in listed securities not specifically referred to, may affect the value of shares in Peel in the future. There is no guarantee that the shares in Peel will make a return on the capital invested, that dividends will be paid on the shares in Peel or that there will be an increase in the value of the shares in Peel in the future. Accordingly, an investment in the Peel should be considered highly speculative and potential investors should consult their professional advisers before deciding whether to acquire shares in Peel.
Release approval
This announcement has been approved for release to the ASX by the Board of Directors of Peel Mining Limited
2023 - A YEAR IN REVIEW
Progressing the South Cobar Project towards development
- ➢ 2023 South Cobar Project Resource Update
- ➢ Pre-feasibility study on Copper First strategy
- ➢ Permitting
- ➢ Exploration pipeline
- ➢ Peel's strategic position in the Cobar Basin
Note: The above image is a conceptual Exploration Decline and site layout at Mallee Bull that has been designed for the purposes of the Review of Environmental Factors (REF) submission to the NSW Resources Regulator. No economic studies have been completed as part of its design. The image is looking Northwest.
SOUTH COBAR PROJECT RESOURCES
January 2023 MRE Update ~20Mt resource base within a 50km radius of Mallee Bull
- ➢ 70% of Global MRE tonnes in Indicated Classification1
- ❖ Copper Resources1 at Mallee Bull and Wirlong combine for 10.64Mt @ 1.85% Cu
| Deposit | MRECategory | Tonnes (kt) | Cu (%) | Ag (g/t) | Cont Cu(kt) | Cont Ag(moz) |
|---|---|---|---|---|---|---|
| Mallee Bull | Ind+Inf | 6,340 | 1.92 | 26 | 122 | 5.3 |
| Wirlong | Ind+Inf | 4,300 | 1.75 | 6 | 0.8 | |
| Combined | Ind+Inf | 10,640 | 1.85 | 18 | 197 | 6.2 |
❖ Zinc-Lead-Silver Resources1 of 7.5Mt at Southern Nights Wagga Tank and Mallee Bull:
| Deposit | MRECategory | Tonnes(kt) | Zn (%) | Pb (%) | Ag (g/t) | ContZn (kt) | Cont Pb(kt) | Cont Ag(moz) |
|---|---|---|---|---|---|---|---|---|
| Mallee Bull | Ind+Inf | 670 | 4.21 | 3.56 | 52 | 28 | 24 | 1.1 |
| WT-SN | Ind+Inf | 6,830 | 3.92 | 1.52 | 62 | 268 | 104 | 14 |
| Combined | Ind+Inf | 7,500 | 3.95 | 1.71 | 61 | 296 | 128 | 15 |
- See JORC MRE tables commencing on Slide 16 which includes May Day resource
PEEL MINING LIMITED I ASX: PEX I www.peelmining.com.au
PEEL'S SOUTH COBAR COPPER RESOURCE
Amongst the highest-grade undeveloped deposits in Australia1
PEEL MINING LIMITED I ASX: PEX I www.peelmining.com.au
SOUTH COBAR COPPER PROJECT
Pre-Feasibility Study - Copper First Strategy
| STUDY ITEM | STATUS |
|---|---|
| Mineral Resource | Complete ✓ |
| Metallurgical, oresorting and geotechnical testwork | Complete ✓ |
| Mine design and scheduling of Mallee Bull and Wirlong | Complete ✓ |
| Scope and cost (capital and operating) | Underway |
| Surface infrastructure, civil design and costing | Underway |
| Environmental studies including water, biodiversity, heritage, noise, dust and traffic | Underway |
| Tailings facility design | Underway |
| Water supply | Underway |
| Power supply | Underway |
| Financial analysis | Underway |
| Pre-feasibility Study document | Underway |
REVIEW OF ENVIRONMENTAL FACTORS
First Exploration Decline REF Approved
- ➢ Mallee Bull exploration decline REF approved by the NSW Resources Regulator.
- ➢ REF approval is conditional on receipt of an EPL and allows for:
- o Construction of a box cut max depth of ~25m below ground level (mbgl).
- o Construction of an exploration decline max depth of ~400mbgl.
- o Construction of associated surface infrastructure.
- ➢ REF study work underway for Wirlong and Southern Nights exploration declines.
- ➢ Next steps
- Environmental Protection License (EPL condition of REF).
- Scoping Environmental Impact Study (EIS).
Note: The conceptual Exploration Decline has been designed for the purposes of a Review of Environmental Factors (REF) submission to the NSW Resources Regulator. No economic studies have been completed as part of its design.
EXPLORATION PIPELINE
- ➢ Mallee Bull and Wirlong copper resources remain open offering brownfields growth potential.
- ➢ Southern Nights zinc-lead-silver resources offer excellent growth potential.
- ➢ >50 regional greenfields exploration targets identified.
- ➢ 2023 Cobar Basin exploration activities have included :
- Historic data compilation and review of all tenure.
- 3,305 surface geo-chem samples.
- 41km of targeted geophysical IP.
- 804 gravity stations covering the Ambergris trend.
- Drill planning for high-ranking targets.
- ➢ Ambergris, advanced to drill target status.
AMBERGRIS
Search for next Cobar discovery continues
- ➢ Ambergris area characteristics:
- o Large multi-element surface geochem anomalism over >5km strike.
- o IP (charge), magnetic & gravity geophysical anomalism.
- o Interpreted proximal position to major structural conduits.
- o Mapped altered geology.
- ➢ MLEM survey commencing this week.
- ➢ Ambergris, Peel 10, Kewpie and Maloney's tank drilling planned for December 2023.
Ambergris prospect – IP (chargeability) over magnetics
PEEL FAR WEST
Strategic position in the Curnamona
- ➢ >1,200km2landholding straddling NSW / SA border within the Curnamona Province.
- ➢ Highly prospective for Cu, Au, Co, Zn, Pb, Ag and U.
- ➢ Mundi Mundi (NSW) prospects defined by 20km long prospective target horizon with mineralisation trend situated on a REDOX boundary defined by magnetics.
- ➢ Considered prospective for Broken Hill Type, IOCG and Kalkaroo-style mineralisation.
- ➢ Limited exploration beneath the Mundi Mundi Plains cover (up to 200m), with high historical success rate where it has been undertaken.
- ➢ Anabama Project (SA) located 140km SW of Broken Hill (pending grant) following successful EAR application.
- ➢ Anabama Cu is considered prospective for large scale, openpittable Cu (Au, Co) resources.
Market Capitalisation and Enterprise Value
| Market Details | Units | @ 12c |
|---|---|---|
| Ordinary shares on issue | m | 581.1 |
| Market Capitalisation | $m | 69.73 |
| Cash (30 September 2023*) | $m | 10.6 |
| Enterprise Value | $m | 59.13 |
Substantial Shareholders
| Name | Shares Held (m) | % of Shares on Issue |
|---|---|---|
| Perth Capital PtyLtd & Associates | 118.6 | 20.4% |
| Australian Institutions | 72.5 | 12.5% |
| Directors | 50.2 | 8.6% |
| St Barbara Limited | 41.5 | 7.1% |
| Sub Total | 282.8 | 48.7% |
| Other Peel shareholders | 298.3 | 51.3% |
| Total | 581.1 | 20.4% |
Board of Directors
| Management | |
|---|---|
| Graham Hardie | Non-Executive Director |
| Rob Tyson | Technical Director |
| Jim Simpson | CEO & Managing Director |
| Mark Okeby | Non-Executive Chairman |
Ryan Woodhouse CFO & Company Secretary
PEEL MINING I ASX: PEX I www.peelmining.com.au 13
Thank you
For more information, please contact us on (08) 9382 3955 or visit our website www.peelmining.com.au
ASX: PEX
COMPETENT PERSONS STATEMENTS
The information in this report that relates to Exploration Results; and to the geological interpretation and sampling information regarding the Wirlong Mineral Resource Estimate; is based on information compiled by Rob Tyson who is a fulltime employee of the company. Mr Tyson is a member of the Australasian Institute of Mining and Metallurgy. Mr Tyson has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as Competent Persons as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Tyson consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Exploration results are based on standard industry practices, including sampling, assay methods, and appropriate quality assurance quality control (QAQC) measures.
The information in this announcement that relates to Mineral Resource estimates is based on information compiled by Mr Jonathon Abbott, who is a Member of The Australian Institute of Geoscientists. Mr Abbott is a director of Matrix Resource Consultants Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves". Mr Abbott consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
This release may include aspirational targets. These targets are based on management's expectations and beliefs concerning future events as of the time of the release of this document. Targets are necessarily subject to risks, uncertainties and other factors, some of which are outside the control of Peel Mining that could cause actual results to differ materially from such statements. Peel Mining makes no undertaking to subsequently update or revise the forward-looking statements made in this release to reflect events or circumstances after the date of this release.
Previous results referred to herein have been extracted from previously released ASX announcements. Previous announcements and reports are available to view on www.peelmining.com.au and www.asx.com.au. Additional information regarding each of the deposits contained within this report are available in the Company's quarterly reports from December 2010 through to November 2023 and in progress reports as reported to the ASX. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
Further information can be found in the ASX announcements:
9th January 2023 - "20MT RESOURCE BASE FOR SOUTH COBAR PROJECT" - 02619312.pdf (weblink.com.au)
Other details (including historic drilling data) can be found in relevant quarterly reports available on the Company's website, and NSW Geological Survey online statutory reporting system NSW DIGS.
JORC CODE INFORMATION SOUTH COBAR PROJECT COPPER MRE JANUARY 2023
| MRECategory | South Cobar Project Copper MREs as atJanuary 2023 ($A80/t NSR cut-off) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deposit | Tonnes(kt) | Cu (%) | Ag (g/t) | Zn (%) | Pb (%) | Au (g/t) | Cont Cu(kt) | Cont Ag(moz) | Cont Zn(kt) | Cont Pb(kt) | Cont Au(koz) | ||
| Ind | 5,590 | 1.93 | 27 | 0.13 | 0.21 | 0.38 | 108 | 4.85 | 7.3 | 11.7 | 68 | ||
| Mallee Bull | Inf | 750 | 1.87 | 21 | 0.04 | 0.08 | 0.11 | 14 | 0.51 | 0.3 | 0.6 | 2.7 | |
| Subtotal | 6,340 | 1.92 | 26 | 0.12 | 0.19 | 0.35 | 122 | 5.36 | 7.6 | 12.3 | 71 | ||
| Ind | 2,290 | 1.92 | 6 | 0.08 | 0.03 | 0.03 | 44 | 0.47 | 1.9 | 0.6 | 1.9 | ||
| Wirlong | Inf | 2,010 | 1.54 | 6 | 0.07 | 0.01 | 0.03 | 31 | 0.37 | 1.4 | 0.3 | 1.7 | |
| Subtotal | 4,300 | 1.75 | 6 | 0.08 | 0.02 | 0.03 | 75 | 0.84 | 3.3 | 0.9 | 3.6 | ||
| Ind | 7,880 | 1.93 | 21 | 0.12 | 0.16 | 0.28 | 152 | 5.33 | 9.2 | 12.4 | 70 | ||
| Combined | Inf | 2,760 | 1.63 | 10 | 0.06 | 0.03 | 0.05 | 45 | 0.87 | 1.7 | 0.9 | 4.4 | |
| Total | 10,640 | 1.85 | 18 | 0.10 | 0.12 | 0.22 | 197 | 6.20 | 10.8 | 13.3 | 74 |
Note: The South Cobar Copper MRE utilises A$80/tonne NSR cut-off mineable shapes that include minimum mining widths and internal dilution to bound the MREs. Figures are rounded to reflect the precision of estimates and include rounding errors.
JORC CODE INFORMATION SOUTH COBAR PROJECT ZINC-LEAD-SILVER MRE JANUARY 2023
| MRECategory | South Cobar Project Zinc-Lead-Silver MREs as atJanuary 2023 ($A80/t NSR cut-off) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deposit | Tonnes(kt) | Cu (%) | Ag (g/t) | Zn (%) | Pb (%) | Au (g/t) | Cont Cu(kt) | Cont Ag(moz) | Cont Zn(kt) | Cont Pb(kt) | Cont Au(koz) | ||
| Ind | 660 | 0.38 | 52 | 4.24 | 3.60 | 0.67 | 2.5 | 1.1 | 28 | 24 | 14 | ||
| Mallee BullZn-Pb | Inf | 10 | 0.22 | 22 | 2.16 | 1.23 | 0.46 | 0.0 | 0.01 | 0.2 | 0.1 | 0.2 | |
| Subtotal | 670 | 0.38 | 52 | 4.21 | 3.56 | 0.67 | 2.5 | 1.1 | 28 | 24 | 14 | ||
| Ind | 3,790 | 0.23 | 68 | 4.39 | 1.72 | 0.31 | 8.7 | 8.3 | 166 | 65 | 38 | ||
| WT-SN | Inf | 3,040 | 0.26 | 55 | 3.34 | 1.28 | 0.28 | 7.9 | 5.4 | 102 | 39 | 27 | |
| Subtotal | 6,830 | 0.24 | 62 | 3.92 | 1.52 | 0.30 | 16.4 | 13.6 | 268 | 104 | 66 | ||
| Ind | 4,450 | 0.25 | 66 | 4.37 | 2.00 | 0.36 | 11.2 | 9.4 | 194 | 89 | 52 | ||
| Combined | Inf | 3,050 | 0.26 | 55 | 3.34 | 1.28 | 0.28 | 7.9 | 5.4 | 102 | 39 | 28 | |
| Total | 7,500 | 0.26 | 61 | 3.95 | 1.71 | 0.33 | 19.5 | 14.7 | 296 | 128 | 80 |
Note: The South Cobar Zinc-Lead-Silver MRE utilises A$80/tonne NSR cut-off mineable shapes that include minimum mining widths and internal dilution to bound the MREs. Figures are rounded to reflect the precision of estimates and include rounding errors.
JORC CODE INFORMATION SOUTH COBAR PROJECT GOLD MRE JANUARY 2023
| MRE | South Cobar Project Gold MRE as atJanuary 2023 ($A40/50/80/t NSR cut-offs) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deposit | Category | Tonnes(kt) | Cu (%) | Ag (g/t) | Zn (%) | Pb (%) | Au (g/t) | Cont Cu(kt) | Cont Ag(moz) | Cont Zn(kt) | Cont Pb(kt) | Cont Au(koz) | ||
| OP Ind | 970 | - | 25 | 0.78 | 0.46 | 1.10 | - | 0.8 | 7.6 | 4.5 | 34 | |||
| UG Ind | 590 | - | 27 | 1.20 | 0.89 | 0.77 | - | 0.5 | 7.1 | 5.3 | 15 | |||
| May Day | UG Inf | 50 | - | 17 | 0.28 | 0.19 | 1.02 | - | 0.03 | 0.1 | 0.1 | 1.6 | ||
| Total | 1,610 | - | 25 | 0.92 | 0.61 | 0.98 | - | 1.3 | 14.8 | 9.8 | 51 |
Note: The South Cobar Project Gold MRE are above A$80/tonne NSR cut-off and utilises mineable shapes, which include minimum mining widths and internal dilution to bound the MREs, except for the Open Pit which utilised $40 and $50/t NSR cut-offs for oxide and sulphide Resources within an optimal pit respectively. Figures are rounded to reflect the precision of estimates and include rounding errors.
SOUTH COBAR PROJECT GLOBAL MRE JANUARY 2023
| South Cobar Project Global MRE as atJanuary 2023 ($A40/50/80/t NSR cut-offs) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deposit | MRECategory | Tonnes(kt) | Cu (%) | Ag (g/t) | Zn (%) | Pb (%) | Au (g/t) | Cont Cu(kt) | Cont Ag(moz) | Cont Zn(kt) | Cont Pb(kt) | Cont Au(koz) | |
| Ind | 13,890 | 1.17 | 36 | 1.57 | 0.80 | 0.38 | 163 | 16 | 218 | 111 | 170 | ||
| All | Inf | 5,860 | 0.90 | 33 | 1.77 | 0.68 | 0.18 | 53 | 6.3 | 104 | 40 | 34 | |
| Total | 19,750 | 1.09 | 35 | 1.63 | 0.76 | 0.32 | 216 | 22 | 322 | 151 | 204 |
Note: The South Cobar Project MREs are above A$80/tonne NSR cut-off and utilises mineable shapes, which include minimum mining widths and internal dilution to bound the MREs, except for May Day Open Pit which utilised $40 and $50/t NSR cut-offs for oxide and sulphide Resources within an optimal pit respectively. Figures are rounded to reflect the precision of estimates and include rounding errors.