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REGIS RESOURCES LIMITED — Interim / Quarterly Report 2017
Jul 20, 2017
65733_rns_2017-07-20_54b910a4-6986-42f9-8212-439a114124b9.pdf
Interim / Quarterly Report
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11
REGIS RESOURCES LTD
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JUNE 2017 QUARTERLY REPORT & EXPLORATION UPDATE
22
DISCLAIMER & COMPETENT PERSONS STATEMENT
This presentation contains only a brief overview of Regis Resources Limited and its associated entities (“Regis or RRL") and their respective activities and operations. The contents of this presentation, including matters relating to the geology of Regis’ projects, may rely on various assumptions and subjective interpretations which it is not possible to detail in this presentation and which have not been subject to any independent verification.
This presentation contains a number of forward-looking statements. Known and unknown risks and uncertainties, and factors outside of Regis’ control, may cause the actual results, performance and achievements of Regis to differ materially from those expressed or implied in this presentation. To the maximum extent permitted by law, Regis does not warrant the accuracy, currency or completeness of the information in this presentation, nor the future performance of Regis, and will not be responsible for any loss or damage arising from the use of the information. The information contained in this presentation is not a substitute for detailed investigation or analysis of any particular issue. Current and potential investors and shareholders should seek independent advice before making any investment decision in regard to Regis or its activities.
The information in this presentation that relates to Exploration Results is extracted from the ASX announcement released 21 July 2017 entitled “Quarterly Report to 30 June 2017” and for which Competent Person’s consents were obtained. The Competent Person’s consents remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.
The information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the Mineral Resource and Ore Reserve Statement released to the Australian Securities Exchange on 14 July 2017 for which Competent Person’s consents were obtained. The Competent Person’s consents remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements released on 14 July 2017 and 21 July 2017 and, in the case of estimates or Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcements continue to apply and have not materially changed. 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 ASX announcement.
ASX announcements are available on the Company’s website at www.regisresources.com.au
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33
REVIEW OF FY2017 Q4 OPERATIONS
DUKETON CONTINUES TO DELIVER STRONG CASHFLOW
OPERATIONS
| Q4 | Q3 | |
|---|---|---|
| FY17 | FY17 | |
| Ore mined (Mbcm) | 1.4 | 1.0 |
| Waste mined (Mbcm) | 6.1 | 6.4 |
| Stripping ratio (w:o) | 4.4 | 6.6 |
| Ore mined (Mtonnes) | 3.1 | 2.3 |
| Ore milled (Mtonnes) | 2.42 | 2.25 |
| Head grade (g/t) | 1.23 | 1.17 |
| Recovery (%) | 94 | 94 |
| Gold production (ounces ‘000) |
90 | 79 |
| Cash cost (A$/oz) | 723 | 798 |
| Cash cost inc royalty (A$/oz) All in Sustaining Cost (A$/oz)1 |
804 870 |
872 1,024 |
-
Q4 gold production 90,428 ounces
-
Run rate above FY16 and FY17 guidance of 300-330koz
-
FY17 production 324,353 oz at top end of guidance
-
Q4 throughput (+8%) & recovery (+0%) v Q3
-
Throughput improved by better oxide ore supply
-
Mill availability improved, no major shutdowns
-
Q4 grade of 1.23g/t: 5% higher than Q3
-
Positive impact of grade from Gloster & Erlistoun
COSTS
-
Q4 cash costs $723/oz & AISC $870/oz
-
Cash cost & AISC below bottom of FY17 guidance range
-
AISC 15% lower than Q3 – strip ratio 4.4, down from 6.6
-
Reducing strip at Erlistoun, Gloster and Rosemont
-
FY17 cash costs $790/oz & AISC $944/oz
-
Both below bottom of FY17 guidance range
OPERATING CASH-FLOW
-
Q4 operating cashflow $74.2m (Q3: $57.8m)
-
Continued strong operating cashflow underpinning cash build and dividends
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1 AISC calculated on a per ounce of production basis 2 operating cash flow is quoted under the Appendix 5B classification protocol and as such does not include payments for pre-strip and deferred mining costs as these are classified as investing activities.
44
DUKETON
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55 FY2017 Q4 OPERATING RESULTS
| Duketon Northern Operations |
Duketon Southern Operations |
Total | ||||||
| Q4 | Q3 | Q4 | Q3 | Q4 | Q3 | |||
| Ore mined (Mbcm ) | ||||||||
| Waste mined (Mbcm) | ||||||||
Stripping ratio (w:o) |
||||||||
| Ore mined (Mtonnes) | ||||||||
Ore milled (Mtonnes) |
||||||||
| Head grade (g/t) | ||||||||
Recovery (%) |
||||||||
| Gold production (ounces) | ||||||||
| Cash cost (A$/oz) | ||||||||
| Cash cost inc royalty (A$/oz) | ||||||||
| All in Sustaining Cost(A$/oz) | ||||||||
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66 FY2017 Q4 OPERATING RESULTS
| Ore mined (Mbcm ) Waste mined (Mbcm) Stripping ratio (w:o) Ore mined (Mtonnes) Ore milled (Mtonnes) Head grade (g/t) Recovery (%) Gold production (ounces) Cash cost (A$/oz) Cash cost inc royalty (A$/oz) All in Sustaining Cost (A$/oz) |
Duketon Northern Operations |
Duketon Northern Operations |
Duketon Southern Operations |
Duketon Southern Operations |
Total | Total | ||
|---|---|---|---|---|---|---|---|---|
| Q4 | Q3 | Q4 | Q3 | Q4 | Q3 | |||
| 0.6 0.4 |
0.8 0.5 1.4 1.0 |
|||||||
| 1.4 1.9 |
4.7 4.4 6.1 6.4 |
|||||||
| 2.5 4.5 |
5.7 8.3 4.4 6.6 |
|||||||
| 1.0 0.8 |
2.1 1.4 3.1 2.3 |
|||||||
| 0.76 0.67 |
1.65 1.58 2.42 2.25 |
|||||||
| 1.32 1.26 |
1.20 1.13 1.23 1.17 |
|||||||
| 94.3 95.3 |
94.3 93.5 94.3 94.1 |
|||||||
| 30,520 25,591 |
59,908 53,632 90,428 79,223 |
|||||||
| 563 601 |
804 892 723 798 |
|||||||
| 653 671 |
880 968 804 872 |
|||||||
| 606 792 |
1,004 1,135 870 1,024 |
DUKETON NORTHERN OPERATIONS
-
Q4 gold production 30,520oz up 19% on Q3:
-
5% increase in grade due to higher tonnage of 1.32g/t ore from Gloster satellite operation milled
-
Throughput 3.1mtpa run rate, up 13% on Q3 – higher proportion of oxide feed from Gloster
-
Q4 AISC down 23% on Q3 to $606/oz due to improved grade and significantly lower strip ratio
DNO strip ratio reducing as Gloster mining advances to main ore zones (Gloster strip down from 4.7 to 2.6)
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77
FY2017 Q4 OPERATING RESULTS
| Duketon Northern Operations |
Duketon Northern Operations |
Duketon Southern Operations |
Duketon Southern Operations |
Total | Total | ||
|---|---|---|---|---|---|---|---|
| Q4 | Q3 | Q4 | Q3 | Q4 | Q3 | ||
| Ore mined (Mbcm ) | 0.6 0.4 |
0.8 0.5 |
1.4 1.0 |
||||
| Waste mined (Mbcm) | 1.4 1.9 |
4.7 4.4 |
6.1 6.4 |
||||
| Stripping ratio (w:o) | 2.5 4.5 |
5.7 8.3 |
4.4 6.6 |
||||
| Ore mined (Mtonnes) | 1.0 0.8 |
2.1 1.4 |
3.1 2.3 |
||||
| Ore milled (Mtonnes) | 0.76 0.67 |
1.65 1.58 |
2.42 2.25 |
||||
| Head grade (g/t) | 1.32 1.26 |
1.20 1.13 |
1.23 1.17 |
||||
| Recovery (%) | 94.3 95.3 |
94.3 93.5 |
94.3 94.1 |
||||
| Gold production (ounces) | 30,520 25,591 |
59,908 53,632 |
90,428 79,223 |
||||
| Cash cost (A$/oz) | 563 601 |
804 892 |
723 798 |
||||
| Cash cost inc royalty (A$/oz) | 653 671 |
880 968 |
804 872 |
||||
| All in Sustaining Cost (A$/oz) | 606 792 |
1,004 1,135 |
870 1,024 |
DUKETON SOUTHERN OPERATIONS
-
Q4 production 59,908oz, 12% higher than Q3:
-
Throughput 1.65mt, 5% higher than Q3 due to better supply of Erlistoun oxide ore
-
Better mill availability at both GW and RMT after major planned and unplanned shutdowns in Q3
-
Mill recovery 94.3% - impact of higher grade
-
AISC of $1,004/oz down 12% on Q3
-
Erlistoun - high start-up strip ratio 39:1 in Q3, down to 15:1 in Q4. Will taper to LOM average of 8:1 in FY18
-
RMT - cutbacks completed and one excavator demobilised - strip ratio fell from 14:1 (Q3) to 7:1 in Q4.
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88
CASHFLOW WATERFALL
Cash & Gold on Hand - Q4 Movements
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$200.0m
$74.2m
$190.0m
$180.0m
($10.5m)
$170.0m
$160.0m ($15.1m)
$4.3m $151.7m
($5.7m)
$150.0m
($0.9m)
($9.1m)
$140.0m
$130.0m
$120.0m $114.5m
$110.0m
$100.0m
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Strong cash-flow from operations of $74.2m (Q3: $57.8m) - cash build of $37m (Q3: $20m) Significant expenditures in Q4:
-
Development ($10.5m) includes pre strip at Erlistoun & completion of Rosemont cutback
-
Exploration ($15.1m) for major drill-outs at TW & RMT ($2.3m), McPhillamys ($3.4m), Blayney acquisition ($3.3m) and McPhillamys land and water licence acquisitions ($1.8m)
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SATELLITE OPERATIONS 9 9 FAMOUS BLUE GEOLOGY COMMENCED IN FY17
GLOSTER
-
26km west of Moolart Well
-
Mining commenced Q1, milling Q2
-
Processed 536kt ore at 1.32g/t in Q4
-
Processed 1.13mt ore at 1.29g/t YTD
-
Adds 3+ years of mill feed to MW
-
Grade increases production & recovery
ERLISTOUN
-
9km south of Garden Well
-
Mining commenced Q2, milling Q3
-
Processed 195kt ore at 1.22g/t in Q4
-
Processed 312kt ore at 1.21g/t YTD
-
Adds 4+ years of mill feed to GW
-
Grade increases production & recovery
OUTLOOK
-
Proving the quality & simplicity of strategy
-
Full year production & falling strip in FY18
-
Tooheys Well, Baneygo etal to follow
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1010
OPERATIONS OUTLOOK
FY2018 GUIDANCE
-
Gold production 335,000 – 365,000 ounces
-
Cash costs $770 – $840 per ounce AISC $940 – $1,010 per ounce
-
Growth Capex: $23m
-
Majority of growth capital related to pre production mining of Baneygo and Tooheys Well satellite operations
-
FY18 production guidance higher than FY17 range of 300-330koz and FY17 actual of 324koz
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Impact of positive grade impact of new operations
-
FY18 AISC guidance slightly lower than FY17 guidance but close to FY17 actual of $944/oz
-
Benefit of higher grades from satellite operations and managing stripping ratios between multiple operations
-
Organic growth projects at Duketon to deliver increasing production and reducing cost profile
MARCH 2017 RESERVE UPDATE
- Group Ore Reserves increased 3% to 2.18 Moz after mining depletion of 331,000 oz (March16: 2.13Moz)
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1111
EXPLORATION UPDATE
DUKETON - SIGNIFICANT RESULTS IN Q4
Completed 34,163m (Q3: 32,943m) of drilling on 8 gold projects
-
Tooheys Well – 2.5km S of Garden Well Drilling culminates in 366koz Reserve
-
Rosemont Underground
-
Numerous +20gm over 500m strike
-
Intercepts outside current reserves
-
Opportunity to add O/P & U/G inventory
-
Reichelts Find – 12km S of Garden Well
-
Encouraging results under historic open pit
-
Up to 1.4km of poorly tested strike
-
King John – 5km SW of Rosemont
-
Encouraging results outside current 72koz Resource
-
Focus returns to regional exploration
-
6 new large scale (1 - 2.5km strike) targets
-
27,000m of drilling planned for Q1 & Q2
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Proximity to 10mtpa milling infrastructure presents excellent exploration opportunity
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1212
TOOHEYS WELL GOLD PROJECT
MAIDEN RESERVE REPLACES REGIS FY17 PRODUCTION
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-
Located only 2.5km south of GW
-
Gold shear zones hosted by chert, shale and BIF
-
Extensive drill-out in 2015 and 16 culminated in maiden resource July 16
-
Maiden Reserve quoted June 17:
| Tonnes | Grade | Gold | |
|---|---|---|---|
| (Mt) | (g/t) | (koz) | |
| 0.5g/t lower cut | 7.1 | 1.61 | 366 |
-
Replaces Duketon FY17 gold production
-
Discovery cost of $24 per reserve ounce
-
Mining to commence March18 quarter
-
Production to commence Dec18 quarter
-
Approx 2MTpa for 90kozpa
-
Will increase group production due to higher grade than displaced ore from GW
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13 13
ROSEMONT SOUTH & MAIN UNDERGROUND OPPORTUNITIES
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3D long section from south east showing planned Rosemont South & Main drilling, phase 1 and 2
Phase 1 drill programmes underway at Rosemont South and below Rosemont Main Pit: Returning numerous high grade intercepts Drilling to continue in FY18Q1 and beyond
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14 14
ROSEMONT MAIN PIT
UNDERGROUND PROJECT
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POTENTIAL FOR UNDERGROUND MINING INVENTORY EXTENSION
-
Testing high grade shoots 100-200m vertically below ultimate open pit design depth
-
Holes drilled to date are encouraging for underground opportunities
-
44 holes for 10,993m of RC drilled in Q4 - excellent high grade results continue
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15 15
ROSEMONT MAIN PIT UNDERGROUND PROJECT
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DRILL RESULTS IN Q4
-
Gold hosted in a steeply east dipping 345° trending quartz-dolerite unit
-
Gold mineralised quartz-dolerite unit is approx 80m wide.
-
Q4 Results (all outside reserves):
-
10m @ 43.84g/t Au from 200m
-
7m @ 33.86g/t Au from 284m
-
4m @ 53.37g/t Au from 318m
-
2m @ 93.00g/t Au from 195m
-
6m @ 28.70g/t Au from 174m
-
10m @ 14.60g/t Au from 271m
-
Drilling continuing with focus on establishing continuity and geometry of high grade mineralisation
-
Maiden underground resource expected in FY18Q2
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DRILL OUTS COMPLETE SO FOCUS 16 16 RETURNS TO REGIONAL EXPLORATION
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NEXT 6 SIGNIFICANT SCALE REGIONAL TARGETS
-
Post successful delivery of Maiden Reserve at Tooheys Well, focus has returned to generating next suite of regional exploration targets.
-
6 new regional targets generated from data review and field investigations
-
Each has between 1 – 2.5km of untested greenstone strike
-
Targets based on combination of structure, lag anomalies, magnetics and no or ineffective previous drilling
-
Total untested strike in this suite of targets ≈12km
-
Targets have been ground-truthed and are ready to drill
Proposed first pass drilling:
-
224 holes to approx. 120m depth
-
27,000 metres over 16 lines
-
Generally 200m spaced lines over targets
-
6 months of work
Continued generation of significant scale targets within trucking distance of Regis mills
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17 17
REGIONAL TARGETS
| Prospect | Location | Target | Untested Strike |
Planned Drilling |
|---|---|---|---|---|
| Camel Hump | 32km S of GW | Soil anomaly over prospective structure No previous drilling |
2km | 18 AC holes to 120m 1 line of holes |
| Mt Varden | 33km S of GW | Soil anomaly over prospective structure Anomalous nearby drilling |
2.5km | 66 AC holes to 120m 5 lines x 200m |
| Corktree North | 41km S of GW | Target under tertiary cover Over prospective structure |
1km | 26 AC holes to 120m 2 lines x 200m |
| Cuthbert Bore | 15km SW of GW | Soil anomaly over prospective structure Ineffective earlier drilling |
2km | 40 AC holes to 120m 3 lines x 200m |
| Steer Creek | 13km SW of RMT | Soil anomaly over prospective structure Ineffective earlier drilling |
2km | 40 AC holes to 120m 4 lines x 200m |
| Speights | 5km NE of RMT | Soil anomaly over prospective structure No previous drilling |
2.5km | 34 AC holes to 120m 2 lines x 200m |
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18 18
REGIONAL TARGETS
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2km 2,000m 2.5km 8,000m
Camel Hump Mt Varden
strike Aircore strike Aircore
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19 19
REGIONAL TARGETS
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1km 3,000m 2km 5,000m
Corktree North Cuthbert Bore
strike Aircore strike Aircore
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20 20
REGIONAL TARGETS
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2km 5,000m 2.5km 4,000m
Steer Creek Speights
strike Aircore strike Aircore
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2121 McPHILLAMYS (NSW)
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-
Located Central-West NSW
-
Well established gold mining district
-
Cadia, Cowal, Northparkes+45Moz*
-
Gold resource 2.2Moz - 100% Regis owned
-
Infill Drilling Completed
-
44,000m of drilling completed over the last 9 months
-
Reduce drill pattern to 50x25m (nominal)
-
66 holes (19,107m) drilled in Q4. Significant results:
-
211m @ 1.85g/t Au from 221m
-
189m @ 1.61g/t Au from 205m
-
115m @ 2.57g/t Au from 253m
-
146m @ 1.64g/t Au from 218m
-
107m @ 2.19g/t Au from 313m
-
157m @ 1.49g/t Au from 309m
-
-
Basis for resource update & reserve estimate to be completed in Sept 2017 quarter
-
Moving towards DFS
-
DFS in to development of 7mtpa operation to be completed in FY18Q2
-
Aiming to submit CPDP to DPE in FY18Q1
-
EIS to be submitted to DPE in FY18Q2
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- Recent quoted resources from public information
2222
McPHILLAMYS (NSW)
PUSHING TOWARDS DEVELOPMENT
-
Announced in July 2017 two alternative water supply options for the project: Option 1 – Water Supply from Mt Piper Power Station and Springvale Mine
-
Non-binding heads of agreement for the supply and offtake of 4-5GLpa of water to support a 7Mtpa processing facility
-
Water available from middle of 2019 with a 10 term and further 10 year supply year
-
option
-
Water supply at no cost to Regis however Regis must supply necessary piping and pumping infrastructure
-
Aiming to complete formal binding agreement in the September 2017 quarter
-
Option 2 – Groundwater Access Licenses
-
secured of Water Access Licenses over
-
Contractually approx. 4.5GLpa ground water allocation approx. 80km’s from McPhillamys
-
Represents a viable and secured alternative source of water supply sufficient for 7mtpa operation
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2323
McPHILLAMYS (NSW)
EXPANDING MCPHILLAMYS RESOURCES AND FOOTPRINT
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-
Completed acquisition of Blayney Gold Project for A$3.25m
-
Tenement lies contiguous to the McPhillamys project licence and hosts two quoted Mineral Resource Estimates*:
-
Discovery Ridge: 13.84Mt at 1.1g/t for 501koz
-
• Bald Hill: 37.0Mt at 0.5g/t for 595koz
-
Acquisition expands the McPhillamys Gold Project footprint by 493 km[2]
-
Discovery Ridge deposit located 32km away from the McPhillamys Gold Project by a major highway
-
6,000m RC & DD infill drilling programme to commence in Q1 for maiden Reserve estimate
-
Economics of Discovery Ridge will be studied with a view to generating a satellite operation to be developed with the McPhillamys Project
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*Refer to Regis announcement released on 23 February 2017
2424
RECAP OF PRESENTATION
Q4 gold production 90,428 ounces at AISC of A$870/oz Production 14% higher than Q3 (79,223oz)
-
Production run rate above top of FY17 guidance
-
Gloster & Erlistoun making contribution & will increase in coming quarters
-
Takes FY17 production to 324,353 ounces, at upper end of guidance
-
Q4 AISC below bottom of guidance range
-
Strip ratios tapering at Gloster & Erlistoun and completion of Rosemont cutback
-
Takes FY17 AISC to $945/oz, also below bottom of guidance range
-
FY18 guidance increased to 335 – 365koz at AISC of $940 – $1,010/oz
-
Cash-flow from operations $74.2m for Q4 (Q3: $57.8m)
-
Cash and bullion holdings $151.7m (Q3: $114.6m) - $37m cash build
-
Exploration efforts continue to deliver at Duketon:
-
Tooheys Well maiden reserve sees FY17 group reserves increase 3% to 2.18Moz
-
Rosemont underground drilling returning high grade results – resource in FY18Q2
-
6 new signifcant scale regional targets at Duketon to be drilled in FY18H1
-
McPhillamys infill drilling complete & a viable process water supply secured Resource update, maiden reserve, DFS and commencement of permitting in FY18H1
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2525
APPENDIX 1 JORC COMPLIANT ORE RESERVE ESTIMATES 31 MARCH 2017
Group Ore Reserves
| Gold | Gold | Gold | Proved | Proved | Proved | Probable | Probable | Probable | Total Ore Reserve | Total Ore Reserve | Total Ore Reserve | Competent Person 3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project | Type | Cut-Off (g/t) 2 |
Tonnes (Mt) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Mt) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Mt) |
Gold Grade (g/t) |
Gold Metal (koz) |
|
| Moolart Well 1 |
Open-Pit | > 0.4 | 1.8 | 0.98 | 57 | 1.0 | 0.82 | 27 | 2.8 | 0.92 | 83 | D |
| Garden Well 1 |
Open-Pit | > 0.4 | 6.1 | 0.76 | 149 | 17.6 | 0.92 | 520 | 23.7 | 0.88 | 669 | D |
| Rosemont 1 |
Open-Pit | > 0.4 | 1.9 | 1.53 | 92 | 7.8 | 1.40 | 350 | 9.7 | 1.42 | 442 | D |
| Duketon Main Deposits | Sub Total | 9.7 | 0.95 | 298 | 26.4 | 1.06 | 897 | 36.1 | 1.03 | 1,195 | ||
| Tooheys Well 3 |
Open-Pit | > 0.5 | - | - | - | 7.1 | 1.61 | 366 | 7.1 | 1.61 | 366 | D |
| Gloster 1 |
Open-Pit | > 0.5 | 0.2 | 0.85 | 6 | 7.1 | 1.06 | 243 | 7.3 | 1.05 | 248 | D |
| Erlistoun 1 |
Open-Pit | > 0.5 | - | - | - | 4.1 | 1.43 | 190 | 4.1 | 1.43 | 190 | D |
| Baneygo | Open-Pit | > 0.4 | - | - | - | 3.6 | 1.16 | 136 | 3.6 | 1.16 | 136 | D |
| Petra | Open-Pit | > 0.5 | - | - | - | 0.6 | 1.26 | 25 | 0.6 | 1.26 | 25 | D |
| Dogbolter | Open-Pit | > 0.5 | - | - | - | 0.3 | 1.57 | 16 | 0.3 | 1.57 | 16 | D |
| Anchor | Open-Pit | > 0.5 | - | - | - | 0.1 | 2.07 | 6 | 0.1 | 2.07 | 6 | D |
| Duketon Satellite Deposits | Sub Total | 0.2 | 0.85 | 6 | 23.0 | 1.33 | 981 | 23.2 | 1.32 | 987 | ||
| Regis | Grand Total | 10.0 | 0.95 | 304 | 49.4 | 1.18 | 1,878 | 59.3 | 1.14 | 2,182 |
Notes
The above data has been rounded to the nearest 100,000 tonnes, 0.01 g/t gold grade and 1,000 ounces. Errors of summation may occur due to rounding.
-
Mineral Resources and Ore Reserves are reported inclusive of ROM Stockpiles at cut-off grade of 0.4 g/t.
-
Cutoff grades vary according to oxidation and lithology domains. Refer to Group Ore Reserves Lower Cut Notes.
-
Refer to Group Competent Person Notes.
-
As reported 4th July 2017
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2626
APPENDIX 2 JORC COMPLIANT MINERAL RESOURCES 31 MARCH 2017
Group Mineral Resources
| Gold | Gold | Gold | Measured | Measured | Measured | Indicated | Indicated | Indicated | Inferred | Inferred | Inferred | Total Resource | Total Resource | Total Resource | Competent Person2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project | Type | Cut-Off (g/t) |
Tonnes (Mt) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Mt) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Mt) |
Gold Grade (g/t) |
Gold Metal (koz) |
Tonnes (Mt) |
Gold Grade (g/t) |
Gold Metal (koz) |
|
| Moolart Well1 | Open-Pit | 0.4 | 5.2 | 0.87 | 144 | 17.1 | 0.70 | 384 | 12.2 | 0.71 | 278 | 34.5 | 0.73 | 806 | A |
| Garden Well1 | Open-Pit | 0.4 | 6.8 | 0.76 | 164 | 52.5 | 0.83 | 1,401 | 10.8 | 0.78 | 271 | 70.1 | 0.82 | 1,837 | A |
| Rosemont1 | Open-Pit | 0.4 | 2.4 | 1.45 | 111 | 20.5 | 1.30 | 858 | 1.8 | 1.72 | 97 | 24.7 | 1.34 | 1,066 | A |
| Duketon Main Deposits | Sub Total | 14.3 | 0.91 | 420 | 90.2 | 0.91 | 2,643 | 24.7 | 0.81 | 646 | 129.2 | 0.89 | 3,709 | ||
| Tooheys Well3 | Open-Pit | 0.0 | - | - | - | 15.9 | 1.17 | 598 | 1.1 | 0.89 | 31 | 17.0 | 1.16 | 630 | A |
| Gloster1 | Open-Pit | 0.4 | 0.2 | 0.85 | 6 | 15.0 | 0.83 | 399 | 6.1 | 0.66 | 129 | 21.3 | 0.78 | 534 | A |
| Baneygo | Open-Pit | 0.4 | - | - | - | 9.2 | 0.96 | 283 | 1.9 | 0.95 | 57 | 11.1 | 0.96 | 340 | A |
| Erlistoun1 | Open-Pit | 0.4 | 0.0 | 0.95 | 0 | 6.0 | 1.31 | 253 | 0.8 | 1.05 | 28 | 6.9 | 1.28 | 282 | A |
| Dogbolter | Open-Pit | 0.4 | - | - | - | 3.5 | 1.11 | 128 | 0.5 | 1.02 | 16 | 4.0 | 1.10 | 144 | A |
| Russells Find | Open-Pit | 0.4 | - | - | - | 2.1 | 1.07 | 71 | 0.3 | 0.90 | 10 | 2.4 | 1.05 | 81 | A |
| Petra | Open-Pit | 0.4 | - | - | - | 1.2 | 1.08 | 42 | 0.1 | 1.09 | 2 | 1.3 | 1.08 | 44 | A |
| KingJohn | Open-Pit | 0.4 | - | - | - | - | - | - | 0.8 | 1.56 | 42 | 0.8 | 1.56 | 42 | A |
| Reichelts Find | Open-Pit | 0.4 | - | - | - | - | - | - | 0.8 | 1.11 | 28 | 0.8 | 1.11 | 28 | A |
| Anchor | Open-Pit | 0.4 | - | - | - | 0.2 | 1.75 | 9 | 0.1 | 0.95 | 2 | 0.2 | 1.53 | 11 | A |
| Duketon Satellite Deposits | Sub Total | 0.2 | 0.85 | 6 | 53.0 | 1.05 | 1,784 | 12.5 | 0.86 | 346 | 65.7 | 1.01 | 2,136 | ||
| Duketon | Total | 14.5 | 0.91 | 426 | 143.1 | 0.96 | 4,427 | 37.2 | 0.83 | 991 | 194.9 | 0.93 | 5,845 | ||
| McPhillamys | Total | 0.4 | - | - | - | 69.2 | 0.94 | 2,087 | 3.9 | 0.98 | 123 | 73.2 | 0.94 | 2,210 | B |
| Regis | Grand Total | 14.5 | 0.91 | 426 | 212.4 | 0.95 | 6,514 | 41.1 | 0.84 | 1,114 | 268.0 | 0.93 | 8,055 |
Notes
The above data has been rounded to the nearest 100,000 tonnes, 0.01 g/t gold grade and 1,000 ounces. Errors of summation may occur due to rounding. All Mineral Resources are reported inclusive of Ore Reserves to JORC Code 2012 unless otherwise noted.
-
Mineral Resources and Ore Reserves are reported inclusive of ROM Stockpiles at cut-off grade of 0.4 g/t.
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Refer to Group Competent Person Notes.
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As reported 4th July 2017
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