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RAMELIUS RESOURCES LIMITED — Investor Presentation 2016
Mar 15, 2016
65718_rns_2016-03-15_30aa736b-a89f-476d-90fc-82f5bdde191a.pdf
Investor Presentation
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Ramelius Resources Limited
UK & Nth American Investor Roadshow – March 2016
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Forward Looking & Competent Persons Statements
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Forward Looking Statements
This presentation contains certain forward looking statements with respect to Ramelius’financial condition, results of operations, production targets and other matters that are subject to various risks and uncertainties. Actual results, performance or achievements could be significantly different from those expressed in or implied by those forward looking statements. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are beyond the control of Ramelius that may cause actual results to differ materially from those expressed in the forward looking statements contained herein. Ramelius Resources Limited gives no warranties in relation to the information and statements within this presentation.
Competent Persons Statement
The Information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Kevin Seymour (Exploration Results), Rob Hutchison (Mineral Resources) and Mark Zeptner (Ore Reserves), who are Competent Persons and Members of The Australasian Institute of Mining and Metallurgy. Kevin Seymour, Rob Hutchison and Mark Zeptner are full-time employees of the company and have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Kevin Seymour, Rob Hutchison and Mark Zeptner consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.
Production Targets
Production targets presented for Vivien and Kathleen Valley projects contain Inferred Resources. For details covering the Mineral Resource and Ore Reserve classifications and proportions relating to the production targets refer to slide 32. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
2
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Corporate - RMS included in All Ordinaries Index in March ‘16
| Board & | Board & | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | Management | |||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Robert Kennedy | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non Executive | Chairman | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mark Zeptner | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Managing Director | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Kevin Lines | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non Executive | Director | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mike Bohm | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non Executive | Director | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share Price | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 0.50 | 40,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 Price (A$) |
0 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 |
Volume | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mar-15 | Apr-15 | May-15 | Jun-15 | Jul-15 | Aug-15 | Sep-15 | Oct-15 | Nov-15 | Dec-15 | Jan-16 | Feb-16 | Mar-16 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Volume | Share | Price |
Capital Structure (as at 11 March 16)
| Shares on Issue 473.7M |
Shares on Issue 473.7M |
Shares on Issue 473.7M |
Shares on Issue 473.7M |
Shares on Issue 473.7M |
Shares on Issue 473.7M |
|---|---|---|---|---|---|
| Market Cap A$199M |
|||||
| Cash & Gold(as at 31 Dec 15) A$40M |
|||||
| Corporate Debt Nil |
|||||
| Enterprise Value A$159M |
|||||
| 3 Month Trading Range A$0.190 - $0.455 |
|||||
| Major Shareholders(as at 08 Feb 16) | |||||
| JP Morgan Nominees Aus. Ltd | 5.4% | 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 Price (A$) |
|||
| Citicorp Nominees Aus. Ltd | 3.8% | ||||
| Guina Energy & Developments Pty Ltd | 2.6% | ||||
HSBC Custody Nominees Aus. Ltd 2.3% |
2.3% | ||||
| Mandurang Pty Ltd 1.7% |
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
3
Operations & Development Projects Overview
| Blackmans Gold Project | Blackmans Gold Project |
|---|---|
| Resource | 38koz |
| Reserve | 16koz |
| Grade | 2.0g/t |
| Life | 1 year |
| Mt Magnet Gold Mine & Plant | |
| Mill Capacity | 1.7Mtpa |
| Resource | 1.8Moz |
| Reserve | 268koz |
| Grade | 2.1g/t |
| Life | 4 years |
| AISC | A$1,300/oz |
| Burbanks Treatment Plant | |
| Mill Capacity | 180ktpa |
| C&M | Dec 2014 |
| 12 Mth Lease | Start date tba |
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| Kathleen Valley Gold Mine | Kathleen Valley Gold Mine | Kathleen Valley Gold Mine |
|---|---|---|
| Resource | 163koz | |
| Reserve | 55koz | |
| Grade | 4.2g/t | |
| Life | 1.5 years | |
| AISC | A$936/oz | |
| Vivien | Gold Mine | |
| Resource | 184koz | |
| Reserve | 101koz | |
| Grade | 7.6g/t | |
| Life | 2 years | |
| AISC | A$990/oz |
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
4
Investment Case for Ramelius
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1. Fast-track project development
-
Ability to accelerate Water Tank Hill underground project and Blackmans/Titan open pits
-
Well positioned to consider acquisition opportunities
2. Mine-life extensions
-
Converting new resources near existing operations into reserves → Blackmans & Milky Way at Mt Magnet
-
Working on greenfields exploration opportunities → recently granted Exploration Licences in the Tanami
3. Strong capital management
-
Forecast production for FY2016 of 110,000 ounces at AISC of A$1,150/oz
-
Ore being mined at new Vivien & Kathleen Valley projects → grade over-performing at both sites
-
Nil corporate debt, undrawn CBA facility, risk mitigating hedge book
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
5
Value Creation - Accelerated Project Development
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-
§ Ability to bring forward Water Tank Hill underground development to early FY2017 Ø adding 15koz of profitable gold production into both FY2017 & FY2018
-
§ Capability to fast-track Blackmans and Titan Open Pit developments into near term production
Ramelius Peer Comparison | Production Multiples
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$6,000
$4,895
$5,000
$4,245
$4,000 $3,730
$3,494
$3,385
$3,000
$1,848
$2,000
$1,423
$1,000
$-
SAR RRL NST EVN SBM DRM RMS
EV data taken as at 10 March 2016 EV/Production EV/Production Average
Production Multiple (A$ per oz)
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
6
Value Creation - Mine Life Extensions
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§ Ability to produce maiden Milky Way mineral resource near term (Jun 2016 Qtr) Ø which will enhance visibility on the operations beyond FY2018
-
§ Seek value accretive acquisition opportunities
-
Ø focus on assets with Mt Magnet mill synergies and more significant stand-alone operations
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Ramelius Peer Comparison | Reserve Multiples Ramelius Peer Comparison | Resource Multiples
$1,374
$1,400 $250 $232
$219 $218
$1,200
$200
$1,000 $161
$150 $135
$800
$614
$534 $100
$600
$506 $485 $100
$70
$369
$400 $310
$50
$200
$- $-
NST RRL EVN SAR DRM RMS SBM NST DRM EVN RRL SBM SAR RMS
EV data taken as at 10 March 2016 EV/Reserve EV/Reserve Average EV/Resource EV/Resource Average
Reserve Multiple (A$ per oz) Resource Multiple (A$ per oz)
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
7
12 Month Review
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Jun-15 Qtr Sep-15 Qtr Dec-15 Qtr Mar-16 Qtr
“Go Ahead” announced for Commenced mining Sep Quarter Gold Production Production Guidance 27.5koz
Kathleen Valley & Vivien Kathleen Valley & Vivien Guidance exceeded at AISC of A$1,150/oz
A$10M finance facility with First ore mined at Vivien Gold Blackmans permitting
Full Year profit for FY2015
CBA secured Mine documents lodged
Forward Gold Sales Ore haulage commences from Maiden Ore Reserve at Milky Way resource drill-out
announced (2 [nd] tranche) Kathleen Valley Blackmans Project complete
Maiden Mineral Resource at High grade gold discovery at Milky Way exploration drilling Vivien development ore
Blackmans Project Milky Way (Mt Magnet) results commenced on 3 levels
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
8
Production Targets - FY2016
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§ Over-performance in Dec 2015 Qtr (27.8koz Actual vs 24koz Guidance) → 110koz Forecast
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
9
Production Targets* - 3 Year Schedule by Year with AISC
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Robust 3 year plan using primarily Ore Reserves (92%)
-
Strong focus on building quality LoM extensions during 2016
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- *Note: FY2018 Production targets for Vivien & Kathleen Valley contain Inferred Resources, refer to slide 32 for further details
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
10
Production Targets* - 3 Year Ore Schedule by Mine
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
11
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Current Operations
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Operations - Mt Magnet Gold Mine
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- § Saturn & Mars open pits complete
§ Saturn pit
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210m deep, final depth
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2.83Mt @ 1.41g/t for 128koz mined
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Oct 2011 - Sep 2015
§ Mars pit
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140m deep, final depth
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1.40Mt @ 1.70g/t for 77koz mined
-
Oct 2011 - Oct 2015
§ Percy pit
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40m deep, 150m at base
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Average grade 1.9g/t
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8:1 strip ratio
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Commenced Jan 2015
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
13
Operations - Mt Magnet Gold Mine
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Milled Tonnes & Head Grade
Gold Production & Costs
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700,000 2.50
Vivien
2.25
600,000
WQS pit Percy pit 2.00
Mossbecker pit
500,000 1.75
Saturn &
Mars pits 1.50
400,000
1.25
300,000
1.00
0.75
200,000
0.50
100,000
0.25
0 0.00
Milled Tonnes (LHS) Head Grade (RHS)
Milled Tonnes (t)
Head Grade (g/t)
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2,000
27,500
SAG mill
25,000 1,800
repairs Ball mill
motor
22,500 1,600
20,000
1,400
17,500
1,200
15,000
1,000
12,500
800
10,000
600
7,500
400
5,000
2,500 200
- -
Fine Gold Production (LHS) C1 - Cash Cost (RHS) AISC (RHS)
Costs A$/oz
Gold Production (oz)
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
14
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Operations - Kathleen Valley Gold Mine
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Mossbecker open pit
(looking south)
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
15
Operations - Kathleen Valley Gold Mine
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| Physicals | Ore Reserve June 2015 |
|---|---|
| Mine Life | 1.5 years |
| Mineral Resource | 163koz |
| Ore Reserve | 55koz |
| Grade | 4.2 g/t |
| Recovery | 95.0% |
| Recovered Ounces | 52koz |
| Financials | BFS February 2015 |
| Up Front Capital | A$1.5M |
| C1 Cash Cost | A$925/oz |
| AISC | A$936/oz |
| Total Cost (incl. Up Front) |
A$975/oz |
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
16
Operations - Vivien Gold Mine
Vivien open pit showing underground portal (looking east)
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| Physicals | Ore Reserve June 2015 |
|---|---|
| Mine Life | 3 years |
| Mineral Resource | 184koz |
| Mining Inventory | 109koz2 |
| Grade | 7.6 g/t |
| Recovery | 95.0% |
| Recovered Ounces | 104koz |
| Financials | Updated BFS Oct 2014 |
| Up Front Capital | A$16.3M |
| C1 Cash Cost | A$766/oz |
| Royalties | A$120/oz |
| AISC | A$990/oz |
| Total Cost (incl. Up Front) |
A$1,148/oz |
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
17
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Operations - Vivien Gold Mine
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360 North Ore Drive (75g/t top-cut)
360 Level
Face #8 grade – 12.7g/t
360 North Ore Drive (75g/t top-cut)
Face #12 grade – 30.2g/t
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
18
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Development Pipeline
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Development - Water Tank Hill & St George
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-
§ Combined Mineral Resource of 620kt @ 5.3g/t for 105koz near existing St George decline
-
§ Currently scheduled for commencement late 2016
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St George open pit
Water Tank Hill
(planned development)
St George u/ground
(actual stoping)
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
20
Development - Water Tank Hill & St George
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- § Underground diamond drilling – currently planned in H2 FY2017
| St George open pit St George u/ground Water Tank Hill Banded Iron (BIF) interpretation |
Physicals Ore Reserve June 2015 Mine Life 2 years Mineral Resource 105koz Ore Reserve 53koz Grade 5.0 g/t Recovery 92.0% Financials Updated PFS June 2015 Up Front Capital A$10.6M C1 Cash Cost A$580/oz AISC A$765/oz Total Cost (incl. Up Front) A$1,006/oz |
|---|---|
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
21
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Development - Blackmans Gold Project
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ü Sep 2014 - Secured 100% of Blackmans ML ü 30km north of Mt Magnet ü Jan 2015 - High grade intersections: Ø 9m at 31.9 g/t Au Ø 25m at 7.61 g/t Au Ø 13m at 8.27 g/t Au ü Jun 2015 - Mineral Resource: Ø 457,000t @ 2.6g/t for 38,000oz ü Dec 2015 - Maiden Ore Reserve Ø 244,000t @ 2.0g/t for 16,000oz § Q2 2016 - Permitting approvals
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
22
Development - Blackmans Gold Project
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| Physicals | Mineral Resource June 2015 |
|---|---|
| Tonnes | 457kt |
| Grade | 2.6g/t |
| Ounces | 38koz |
| Physicals | Ore Reserve December 2015 |
| Mine Life | 12 months |
| Ore Reserve | 244kt |
| Grade | 2.0g/t |
| Ounces | 16koz |
| Recovery | 92% |
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
23
Mine Life Extension - Milky Way (Mt Magnet)
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-
§ Targeting large tonnage porphyry
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§ 3.6km south of Checker gold mill
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§ First target Milky Way open pit
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Ø Oct-Dec 2015: ~5,000m RC drilled
-
Ø Several high grade intersections
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Ø Broad widths of lower grade porphyry
-
Ø Jan-Mar 2016: ~6,000m infill RC
-
Ø Assay results by end of March 2016 Ø Mineral Resource by June 2016 Qtr
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
24
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Mine Life Extension - Milky Way (Mt Magnet)
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
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Mine Life Extension - Vivien
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§ Upper level (S/P #1) drilling completed Jan 16 – results & modelling pending
-
§ Midpoint infill drilling planned for July 2016
-
§ First phase deep extensional exploration drilling planned for Sep 2016 Qtr
-
Ø ~3,700m of diamond core
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
26
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Mine-Life Extension - Mossbecker (Kathleen Valley)
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-
§ Targeting down dip extensions at Mossbecker
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§ In-pit grade control drilling generally defined higher grades than Resource model
-
§ Further surface RC drilling planned for June 2016 Qtr
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
27
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Exploration Projects
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Exploration - Project Locations
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
29
Exploration - Tanami JV (NT)
-
§ 1,700km[2] of prospective geology
-
§ RMS earnt 85% from Tychean (ASX: TYK)
-
§ Within 100km of;
-
Ø Newmont’s +20Moz Callie Gold Mine
-
Ø Granites Treatment Plant
-
§ Suplejack EL 3 phases of drilling completed
-
Ø Plus 10ppb interface gold anomaly over 2km strike
-
§ Highland Rocks EL’s granted December 2015
-
Ø Heritage survey scheduled for March 2016
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Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
30
2016 Key Focus Areas
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Hitting all the Targets
1. Bed down Vivien ore production
- Profitable Operations
2. Fast-track new development
3. Extend Mine Life through Resource conversion & extensions
- Mine-Life Extension
4. Improve exposure & ability to execute acquisition opportunities
5. Increased brownfields exploration at Mt Magnet
- Exploration
6. First on-the-ground access to new EL’s in the Tanami
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
31
Production Targets, Mineral Resources & Ore Reserves Note
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For detailed information relating to Mineral Resources and Ore Reserves see ASX release (RMS) 10 Sept 2015, ‘Resources and Reserves Statement’. All Mt Magnet Production Targets arebased on Ore Reserves.
¹ Kathleen Valley Production Target based on OreReserves plus a proportion ofInferred Mineral Resource (15% oz). Thereis a low level of geological confidence associated with inferred mineral resources and there is no certainty that exploration work will result in the determination of indicated resources or that the Production Target will be realised. The stated Production Target is based on the company’s current expectations of future results or events and should not be solely relied upon by investors when making investment decisions. Further evaluation work and appropriate studies are required to establish sufficient confidencethat this target will bemet.
² Vivien Production Target based on Ore Reserves plus a proportion of Inferred Mineral Resource (16% oz). For detailed information relating to Vivien Mining Inventory and Ore Reserve see ASX release (RMS) 30 May 2014, ‘Vivien Gold Mine Feasibility Completed’. There is a low level of geological confidence associated with inferred mineral resources and there is no certainty that exploration work will result in the determination of indicated resources or that the Production Target will be realised. The stated Production Target is based on the company’s current expectations of future results or events and should not be solely relied upon by investors when making investment decisions. Further evaluation work and appropriatestudies are required to establish sufficient confidencethat this target will bemet.
The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and that all material assumptions and technical parameters underpinning theestimates continueto apply and havenot materially changed.
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
32
Mineral Resource Statement
| MINERAL RESOURCES AS AT 30 JUNE 2015 - INCLUSIVE OF RESERVES | MINERAL RESOURCES AS AT 30 JUNE 2015 - INCLUSIVE OF RESERVES | MINERAL RESOURCES AS AT 30 JUNE 2015 - INCLUSIVE OF RESERVES | MINERAL RESOURCES AS AT 30 JUNE 2015 - INCLUSIVE OF RESERVES | MINERAL RESOURCES AS AT 30 JUNE 2015 - INCLUSIVE OF RESERVES |
|---|---|---|---|---|
| Deposit | Measured | Indicated | Inferred | Total Resource |
| Tonnes Au Au ('000s) g/t Oz |
Tonnes Au Au ('000s) g/t Oz |
Tonnes Au Au ('000s) g/t Oz |
Tonnes Au Au ('000s) g/t Oz |
|
| Galaxy MorningStar |
823 1.5 40,000 |
6,318 1.9 393,000 1,765 1.8 103,000 |
4,436 1.3 180,000 4 1.4 - |
11,577 1.6 613,000 1,770 1.8 103,000 |
| Total major deposits | 823 1.5 40,000 |
8,084 1.9 496,000 |
4,441 1.3 180,000 |
13,347 1.7 716,000 |
| Bartus Group Blackmans Boomer Britannia Well Bullocks Eastern Jaspilite Eclipse Golden Stream Hill 60 Lone Pine O'Meara Group Shannon Spearmont - Galtee Stellar Welcome - Baxter |
49 2.2 4,000 146 2.2 10,000 199 2.5 16,000 94 2.5 8,000 160 2.1 11,000 222 1.6 11,000 |
115 2.1 8,000 336 2.6 28,000 1,194 1.8 68,000 179 2.0 12,000 202 3.3 21,000 121 2.8 11,000 167 2.2 12,000 154 2.9 14,000 277 1.7 15,000 231 2.5 18,000 35 2.5 3,000 25 2.9 2,000 87 1.9 5,000 276 1.6 15,000 |
238 1.6 12,000 121 2.6 10,000 786 1.0 26,000 40 2.5 3,000 134 2.5 11,000 41 2.1 3,000 7 1.7 - 309 4.6 46,000 147 1.7 8,000 151 1.5 7,000 42 2.6 3,000 207 4.3 28,000 59 1.8 3,000 198 1.8 11,000 |
402 1.8 24,000 457 2.6 38,000 1,980 1.5 94,000 179 2.0 12,000 242 3.2 25,000 401 2.4 32,000 208 2.1 14,000 160 2.8 15,000 309 4.6 46,000 623 1.9 38,000 383 2.1 26,000 170 2.5 14,000 232 4.1 31,000 306 2.0 19,000 696 1.7 37,000 |
| Total satellite deposits | 869 2.1 60,000 |
3,399 2.1 232,000 |
2,480 2.1 171,000 |
6,748 2.1 463,000 |
| Hill 50 Deeps Morning Star Deeps Saturn UG St George UG Water Tank Hill UG |
279 5.5 49,000 110 4.9 17,000 |
932 7.0 209,000 195 4.2 26,000 149 4.2 20,000 229 6.6 49,000 |
396 6.4 81,000 334 5.0 53,000 1,607 2.5 127,000 42 4.0 5,000 89 4.9 14,000 |
1,607 6.6 339,000 528 4.7 79,000 1,607 2.5 127,000 302 4.4 42,000 318 6.1 63,000 |
| Total UG deposits | 390 5.3 66,000 |
1,504 6.3 304,000 |
2,468 3.5 280,000 |
4,362 4.6 650,000 |
| Mt Magnet Stockpiles | 794 0.7 19,000 |
- - |
- - |
794 0.7 19,000 |
| Mt Magnet Total | 2,876 2.0 185,000 |
12,987 2.5 1,032,000 |
9,388 2.1 631,000 |
25,251 2.3 1,848,000 |
| Western Queen South Coogee Vivien Kathleen Valley Mossbecker Yellow Aster/Nils D. |
104 3.6 12,000 31 3.6 4,000 499 8.8 141,000 463 4.0 59,000 205 4.4 29,000 |
81 3.4 9,000 65 3.3 7,000 306 4.4 43,000 186 2.3 14,000 960 2.0 61,000 |
185 3.5 21,000 96 3.4 11,000 805 7.1 184,000 650 3.5 73,000 1,165 2.4 90,000 |
|
| Non Mt Magnet Total | 1,302 5.9 245,000 |
1,599 2.6 134,000 |
2,901 4.1 379,000 |
|
| Total Resources | 2,876 2.0 185,000 |
14,289 2.8 1,277,000 |
10,987 2.2 765,000 |
28,152 2.5 2,227,000 |
==> picture [102 x 75] intentionally omitted <==
For detailed information relating to Mineral Resources see ASX release (RMS) 10 Sept 2015, ‘Resources and Reserves Statement’. No material change has occurred.
Note: Figures rounded to nearest 10,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur.
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
33
Ore Reserve Statement
| ORE RESERVE STATEMENT AS AT 30 JUNE 2015 | ORE RESERVE STATEMENT AS AT 30 JUNE 2015 | ORE RESERVE STATEMENT AS AT 30 JUNE 2015 | |
|---|---|---|---|
| Proven | Probable | Total Reserve | |
| Tonnes Au Au ('000s) g/t Oz |
Tonnes Au Au ('000s) g/t Oz |
Tonnes Au Au ('000s) g/t Oz |
|
| Galaxy Pits Saturn Mars Titan Perseverance Brown Hill Morning Star Cutback Morning Star Satellite Pits Boomer Lone Pine O'Meara Golden Stream Underground Water Tank Hill St George Stockpiles |
21 1.5 1,000 20 1.9 1,000 667 1.4 30,000 73 3.6 8,000 794 0.7 19,000 |
92 2.2 7,000 65 1.7 4,000 483 1.4 21,000 452 2.7 39,000 109 2.6 9,000 478 2.8 43,000 132 2.9 12,000 258 1.8 15,000 46 3.4 5,000 95 3.0 9,000 176 6.5 37,000 86 3.0 8,000 |
113 2.1 8,000 84 1.8 5,000 1,150 1.4 51,000 452 2.7 39,000 109 2.6 9,000 478 2.8 43,000 132 2.9 12,000 258 1.8 15,000 46 3.4 5,000 95 3.0 9,000 176 6.5 37,000 159 3.3 16,000 794 0.7 19,000 |
| Mt Magnet Total | 1,575 1.2 59,000 |
2,471 2.6 209,000 |
4,045 2.1 268,000 |
| Vivien Underground | 400 7.9 101,000 |
400 7.9 101,000 |
|
| Mossbecker pit Yellow Asterpit |
321 4.1 42,000 88 4.6 13,000 |
321 4.1 42,000 88 4.6 13,000 |
|
| Kathleen Valley Total | 408 4.2 55,000 |
408 4.2 55,000 |
|
| Total Reserves | 1,575 1.2 59,000 |
3,279 3.5 365,000 |
4,854 2.7 424,000 |
==> picture [102 x 75] intentionally omitted <==
For detailed information relating to Ore Reserves see ASX release (RMS) 10 Sept 2015, ‘Resources and Reserves Statement’. No material change has occurred.
Note: Figures rounded to nearest 10,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur.
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
34
Appendix 1 - 3 Year Schedule by Quarter
==> picture [102 x 75] intentionally omitted <==
Ramelius Quarterly Mine Schedule
| 45,000 | Morning Star | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Kathleen Valley | |||||||||||
| 40,000 | Vivien | ||||||||||
| 35,000 | Low Grade Fresh (MM) | ||||||||||
| 30,000 | Low Grade Ox/Trans (MM) | ||||||||||
| Recovered Gold (oz) | 15,000 20,000 25,000 |
Underground (MM) Boomer Golden Stream O'Meara |
|||||||||
| 10,000 | Brown Hill Percy |
||||||||||
| 5,000 | Titan | ||||||||||
| 0 | Blackmans |
==> picture [500 x 34] intentionally omitted <==
Ramelius Resources Limited • UK & Nth American Investor Roadshow – March 2016
35