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RK Rae Chairman Sydney Mining Club 3 March 2005

RK Rae Chairman Sydney Mining Club 3 March 2005. Project Location. Tennant Creek Goldfield. Control a goldfield – 3,100 km 2. Company making field. $1.28B Gold, $2.1B Copper (A$). $1.77B Gold (A$). New Exploration Model.

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RK Rae Chairman Sydney Mining Club 3 March 2005

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  1. RK Rae Chairman Sydney Mining Club 3 March 2005 Sydney Mining Club – 3.3.05

  2. Project Location Tennant Creek Goldfield Sydney Mining Club – 3.3.05

  3. Control a goldfield – 3,100 km2 Sydney Mining Club – 3.3.05

  4. Company making field $1.28B Gold, $2.1B Copper(A$) $1.77B Gold(A$) Sydney Mining Club – 3.3.05

  5. New Exploration Model • Previous exploration primarily focused on testing deep (>100m) magnetic ironstones; • Chariot and Malbec West oxide zones hosted in weak/non-magnetic ironstone; • Exploration model cornerstone is gravity geophysics to identify weak/non-magnetic, often “blind”, ironstones. Sydney Mining Club – 3.3.05

  6. Extensive “projects pipeline” Sydney Mining Club – 3.3.05

  7. Our stakeholders Sydney Mining Club – 3.3.05

  8. Mining operations Chariot Malbec West Cat’s Whiskers Warrego Sydney Mining Club – 3.3.05

  9. Peer comparison – Dec. Qtr Sydney Mining Club – 3.3.05

  10. Our social performance • Indigenous training program at Warrego; • Employment of local residents & “Territorians” first; • Preferential procurement from local business; • Malbec West mined by indigenous contractor; • Major sponsor of Barkly AFL; • Initiated and matched supplemental government funding for Warrego school. Sydney Mining Club – 3.3.05

  11. Shallow, high-grade intersections • Black Snake; • 14m @ 60g/t Au from 15m • 11m @ 21g/t Au from 28m • Malbec North; • 9m @ 73g/t Au from 21m • Susan; • 11m @ 20g/t Au from 22m • 5m @ 16g/t Au from 24m • Golden Kangaroo; • 5m @ 17g/t Au from 31m. Sydney Mining Club – 3.3.05

  12. Ability to “fast track” projects • Malbec West • 18 weeks from discovery to mining; • Supportive NT framework • Single point of access; • Balance between industry needs and government responsibility. • Supportive Indigenous Landowners • ILUA agreement; • Mutual obligations. • Black Snake next project moving to starting block. Sydney Mining Club – 3.3.05

  13. Summary • Successfully transitioned from an explorer to a low cost producer; • Exploration programs and budget expanded; • Pipeline of targets; • Committed to exploring in this prospective NT field to meet the mine life challenge. Sydney Mining Club – 3.3.05

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