Slide 1
Ramelius Resources Limited
ASX:RMS
RIU Melbourne Resources Round-up - 30 September 2015
Forward Looking & Competent Persons Statements
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 22. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.
The Investment Case
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Australia's next 100koz p.a gold producer
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1. Capital Position
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2. Profitable Operations
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3. Exploration Upside
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Corporate Summary
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Capital Structure (as at 31 Aug 15)
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Shares on Issue
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473.6M
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Market Cap
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A$56.8M
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Cash & Gold (as at 30 Jun 15)
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A$36.3M
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Corporate Debt
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Nil
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Enterprise Value
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A$20.5M
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6 Month Trading Range
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A$0.09 - $0.15
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Board & Management
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Robert Kennedy
Non Executive Chairman
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Mark Zeptner Managing Director Kevin Lines
Non Executive Director
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Mike Bohm
Non Executive Director
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Significant Shareholders
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JP Morgan Nominees
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4.0%
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Citicorp Nominees
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3.8%
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HSBC Nominees
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1.8%
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Jetosea Pty Ltd
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1.8%
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Board & Mgt
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3.0%
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Share Price v Gold Index
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Blackmans Gold Project
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Resource Tonnes
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457kt
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Resource Grade
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2.6g/t
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Resource Ounces
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38koz
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Mt Magnet Gold Mine
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Mill Capacity
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1.7Mtpa
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Resource
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1.8Moz
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Reserve
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268koz
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Life
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4 years
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AISC
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A$1,300/oz
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UCF*
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A$50M
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Production & Development Projects Overview
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Kathleen Valley Gold Mine
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Resource
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163koz
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Reserve
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55koz
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Life
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1.5 years
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AISC
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A$936/oz
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UCF*
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A$28M
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Burbanks Treatment Plant
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Mill Capacity
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180ktpa
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12 Mth Lease
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Start date tba
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Revenue p.a
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~A$1.0M
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Vivien Gold Mine
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Resource
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184koz
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Reserve
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101koz
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Life
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3 years
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Capex
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A$16.3M
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AISC
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A$990/oz
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UCF*
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A$37M
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*Undiscounted Cash Flow @ A$1,500/oz
Operations - Mt Magnet Gold Mine
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Saturn & Mars open pits complete
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Saturn pit
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Mars pit
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Transitioned to Percy pit
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40m deep, 150m at base
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Average grade 1.9g/t
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8:1 strip ratio
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Commenced Jan 2015
Operations - Mt Magnet Gold Mine
Milled Tonnes & Head Grade
Gold Production & Unit Costs
700,000
600,000
2.00
1.80
Mossbecker
Milled Tonnes (t)
Head Grade (g/t)
Gold Production (oz)
pit
25,000
22,500
SAG mill
repairs Ball mill
Costs (A$/oz)
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20,000
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1,600
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17,500
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1,400
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15,000
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1,200
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12,500
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1,000
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10,000
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800
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7,500
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600
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5,000
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400
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2,500
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200
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motor
2,000
1,800
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500,000
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1.60
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400,000
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1.40
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300,000
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1.20
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200,000
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1.00
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100,000
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0.80
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0 0.60 - -
Milled Tonnes (LHS) Head Grade (RHS)
Fine Gold Production (oz) - LHS C1 - Cash Cost (A$/oz) - RHS AISC (A$/oz) - RHS
Operations - Kathleen Valley Gold Mine
408,000t @ 4.2g/t for 55,000oz
Operations - Kathleen Valley Gold Mine
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Physicals
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Ore Reserve June 2015
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Mine Life
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1.5 years
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Mineral Resource
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163koz
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Ore Reserve
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55koz
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Grade
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4.2 g/t
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Recovery
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95.0%
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Recovered Ounces
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52koz
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Financials
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BFS
February 2015
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Up Front Capital
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A$1.5M
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C1 Cash Cost
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A$925/oz
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AISC
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A$936/oz
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Total Cost (incl. Up Front)
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A$975/oz
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Cash Flow
@ A$1,500/oz
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A$28M
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Operations - Vivien Gold Mine
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Jul 2014 - Acquisition & approvals completed
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Oct 2014 - Updated BFS, improved financials
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Mar 2015 - Preliminary surface works started
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May 2015 - A$10M facility secured (undrawn)
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Jun 2015 - Decline commenced
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Nov 2015 - First ore mined
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Jan 2016 - Commencement of ore haulage
Operations - Vivien Gold Mine
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Physicals
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Ore Reserve June 2015
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Mine Life
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3 years
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Mineral Resource
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184koz
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Mining Inventory
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109koz2
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Grade
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7.6 g/t
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Recovery
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95.0%
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Recovered Ounces
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104koz
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Financials
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Updated BFS Oct 2014
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Up Front Capital
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A$16.3M
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C1 Cash Cost
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A$766/oz
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Royalties
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A$120/oz
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AISC
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A$990/oz
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Total Cost
(incl. Up Front)
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A$1,148/oz
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Cash Flow @ A$1,500/oz
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A$37M
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Ramelius Resources Limited • RIU Melbourne Resources Round-up - September 2015 11
Operations - Vivien Gold Mine
Ramelius Resources Limited • RIU Melbourne Resources Round-up - September 2015 12