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Resolute Mining Limited — Investor Presentation 2008
Sep 8, 2008
10548_rns_2008-09-08_5646c980-a3e2-46c1-b147-bf1635d19a62.pdf
Investor Presentation
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ASX ANNOUNCEMENT
CHIEF EXECUTIVE OFFICER PRESENTATION
Attached is a copy of the Chief Executive Officer’s presentation to be given at the Denver Gold Forum today.
For and on behalf of the Board
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GREG FITZGERALD Company Secretary
8 September 2008
RESOLUTE MINING LIMITED
DENVER GOLD FORUM
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2008
SUBSTANTIAL & GROWING GOLD PRODUCER
n Strong Gold Fundamentals
l Experienced Gold Developer/Operator l Reserves ~3m ozs l Total Resources ~12m ozs l Production ~300,000 oz pa
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SUBSTANTIAL & GROWING GOLD PRODUCER
n New Production Emerging
l Syama
- l Mt Wright
l 2 Year Spend of Over A$250m
l Completed by End of 2008
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RESOURCE PROFILE
(Total Resources 000ozs)
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14000
12000
10000
Exploration
8000
Development
6000
Operations
4000
2000
0
2007 2008
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PRODUCTION PROFILE
(indicative attributable production, 000ozs by FY)
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500
450
400
350
Syama
300
Mt Wight
250
Sarsfield
200
Golden Pride
150
100
50
0
2008 2009 2010 2011
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CORPORATE SUMMARY
Capitalisation Issued Shares: 280.7 million Unlisted Options: 2.6 million 6 mth Price Range: A$2.55 - $1.16 Avg Monthly T/O: 8.1 million Market Cap: A$420 million
Major Shareholders Alliance Life Common Fund 39.9% Barclays Capital 7.2% Officium 6.7% CBA 5.6% Acorn Capital 5.3%
Board of Directors Peter Huston – Non Exec Ch Peter Sullivan - MD Tom Ford – Non Exec Bill Price – Non Exec
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SYAMA
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SYAMA
n Emerging Gold Belt
n Resolute 80% Mali Govt 20%
- n Major Asset of Resolute
n Additional Production of 250,000+ ozs pa
n Potential for 10+ Year Operation
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SYAMA Progress
n Construction Overall 80% Complete
n Operations Started
- n Mining Successfully Ramped Up
n Non Sulphide Commissioning Completed n Sulphide Commissioning 4Q 2008
n Sulphide Production 4Q 2008
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SYAMA Progress
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SYAMA Progress
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SYAMA Upside
n Several Expansion/Extension Projects
n Free Milling Feasibility
n Finkolo JV Feasibility
n Underground Scoping Study
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SYAMA
Free Milling Feasibility
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A21 - Quartz Vein Hill Oxide mineralisation over 6 km of strike A21 & QVH 601,000oz resource
Main Pit
Basso Areas 10 km of unexplored strike
Oxide mineralisation at Tellem and Drag Queen Prospects
KEY ASPECTS
-
Add Free Milling Circuit
-
1 - 1.5 mtpa Oxide Feed
-
Extra 80 – 100 kozs pa
-
Incremental Capex
-
Completion by 1Q 09
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SYAMA
Finkolo JV Feasibility
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-
Resolute 60% Etruscan 40%
-
Extends Resolute control to over 75 km of a
-
poorly explored and very prospective gold belt
-
Tabakoroni Resource 745,000 ounces
-
Feasibility commenced on best development
-
option
-
Completion by 2H 09
Regional Aeromagnetics and Prospects
SYAMA
Underground Scoping Study
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-
Inferred resource of
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4.0m ozs below pit • Inwall ramp extend to
-
decline • Infill drilling required
-
to further stope design
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RAVENSWOOD
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RAVENSWOOD Operations
n 07/08 – 142,833 ozs @ Cash Cost A$743/oz
n Sarsfield Open Pit and Stockpiles n Mt Wright Underground Integrated Into Operation
n 18 month Transition Period
n Cash Cost Decrease
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RAVENSWOOD Mt Wright
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n Decline Progress 400m Vertical n 3 Stopes Developed n Development Drilling Confirms Orebody Model n Good Recovery at Plant n Costs in Line with Feasibility+Esc
RAVENSWOOD Mt Wright Development
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RAVENSWOOD Mt Wright Depth Potential
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n Brecciated Rhyolite Pipe n No Drilling Below 800m n Drilling to Test Further 300m Depth n Scope to Significantly Increase Resource n Material Change to Operating Plan
RAVENSWOOD Exploration
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Exploration
Targets
2008
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Ravenswood Regional Exploration is now drill testing high priority targets
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GOLDEN PRIDE
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GOLDEN PRIDE Operations
n 07/08 – 150,224 ozs @ Cash Cost US$449/oz
n 4 Year Production Life
-
n Mining to New Pit Design
-
n Ore Constrained Over Next 12 Months
n Production Lower
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GOLDEN PRIDE Development
n Potential Pit Life Extension
n 0.4m resource ozs
n Deeper Pit
n South, West and Eastern Extensions
n Nyakafuru
n Now 100% owned
n 1.0m resource ozs
n 120kms from GP
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GOLDEN PRIDE Regional Exploration
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Location and
Buzwagi
Tenure
Golden Pride
Resolute Tenure
Nzega Greenstone belt (mapped)
20km
Interpreted Shear Zone
Consolidating tenure around Golden Pride and exploring
under shallow cover with new exploration tools
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EXPLORATION
n Strong Commitment to Exploration
n Key to Adding Value at Existing Assets n Spend for 2008/9 – A$10 million
n Focus On Very Prospective Near Mine
Tenure
- n Cost Effective Addition of Ounces
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CORPORATE
n Funding of Development Activities Nearly Complete
n Moving to Cash Generation Phase
n Value Add Opportunities
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SUMMARY
n Gold
n Experienced Operator n Strong Growth Phase n High Leverage to Gold Price
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THANK YOU
DISCLAIMER
Note: All Reserves Resources as at 30 June 2008
This presentation includes certain statements, estimates and projections with respect to the future performances of Resolute Mining. Such statements, estimates and projections reflect various assumptions concerning anticipated results, which assumptions may prove not to be correct. The projections are merely estimates by Resolute Mining, of the anticipated future performance of Resolute Mining’s business based on interpretations of existing circumstances, and factual information and certain assumptions of economic results, which may prove to be incorrect. Such projections and estimates are not necessarily indicative of future performance, which may be significantly less favourable than as reflected herein. Accordingly, no representations are made as to the fairness, accuracy, correctness or completeness of the information contained in this presentation including estimates or projections and such statements, estimates and projections should not be relied upon as indicative of future value, or as a guarantee of value of future results. This presentation does not constitute an offer, invitation or recommendation to subscribe for or purchase securities in Resolute Mining Limited.
The information in this presentation as it relates to ore reserves, mineral resources or mineralisation is reported in accordance with the Aus.IMM “Australian Code for reporting of Identified Mineral Resources and Ore Reserves” and is based on information compiled by T Brown and R Bray, competent persons as defined by the code. T Brown and R Bray have consented in writing to the inclusion in this report of the numbers based on the information in the form and context in which it appears. “Significant” drill results refer to results that are indicative of potentially economic mineralisation or that warrant follow-up work.
In providing this presentation, Resolute Mining has not considered the objectives, financial position or the needs of the recipient. The recipient should obtain and rely on its own financial advice from its tax legal accounting and other professional advisers in respect of the recipients objectives financial position and needs. To the maximum extent permitted by law neither Resolute Mining nor its related corporations ,directors, employees or agents nor any other person accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. You represent and confirm by attending and or retaining this presentation that you accept the above conditions.
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