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Dalradian corporate presentation sept 10 2013 final

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    Dalradian corporate presentation sept 10 2013 final Dalradian corporate presentation sept 10 2013 final Presentation Transcript

    • Patrick  F.  N.  Anderson   Chief  Execu8ve  Officer   Sample  from  the  T17  vein   188  g/t  of  gold     103  g/t  of  silver   5.07%  of  copper   High-­‐Grade  Gold  │  Low-­‐Cost  │  Low-­‐Risk    │  Development  │  Europe  │  September  2013  
    • Forward-­‐Looking  Informa;on  and  Qualified  Person   This  presenta8on  contains  “forward‑looking  informa8on”  which  may  include,  but  is  not  limited  to,  statements  with  respect  to  the  comple8on  of  the  acquisi8on  (the   “Acquisi8on”)  by  the  Company  from  a  group  of  private  vendors  of  approximately  1.3  million  hectares  of  mineral  rights  over  four  greenstone  belts  and  a  historic  silver  mining   camp  in  Norway,  future  financial  or  opera8ng  performance  of  the  Company  and  its  mineral  projects,  the  future  price  of  metals,  the  es8ma8on  of  mineral  resources,  the   realiza8on  of  mineral  resource  es8mates,  the  8ming  and  amount  of  es8mated  future  produc8on,  costs  of  produc8on,  capital,  opera8ng  and  explora8on  expenditures,  costs  and   8ming  of  the  development  of  new  deposits,  costs  and  8ming  of  future  explora8on,  requirements  for  addi8onal  capital,  government  regula8on  of  mining  opera8ons,   environmental  risks,  reclama8on  expenses,  8tle  disputes  or  claims  and  limita8ons  of  insurance  coverage.  O^en,  but  not  always,  forward‑looking  statements  can  be  iden8fied  by   the  use  of  words  and  phrases  such  as  “plans,”  “expects,”  “is  expected,”  “budget,”  “scheduled,”  “es8mates,”  “forecasts,”  “intends,”  “an8cipates,”  or  “believes”  or  varia8ons   (including  nega8ve  varia8ons)  of  such  words  and  phrases,  or  state  that  certain  ac8ons,  events  or  results  “may,”  “could,”  “would,”  “might”  or  “will”  be  taken,  occur  or   be  achieved.   Forward-­‐looking  statements  are  based  on  the  opinions  and  es8mates  of  management  as  of  the  date  such  statements  are  made  and  are  based  on  various  assump8ons,  such  as   the  con8nued  poli8cal  stability  in  Northern  Ireland  and  Norway,  that  permits  required  for  the  Company’s  opera8ons  will  be  obtained  in  a  8mely  basis  in  order  to  permit  the   Company  to  proceed  on  schedule  with  its  planned  explora8on  and  development  programs,  that  skilled  personnel  and  contractors  will  be  available  as  the  Company’s  opera8ons   con8nue  to  grow,  that  the  price  of  gold  will  be  at  levels  that  render  the  Company’s  mineral  projects  economic,  that  the  Company  will  be  able  to  con8nue  raising  the  necessary   capital  to  finance  its  opera8ons  and  realize  on  mineral  resource  es8mates,  and  that  the  assump8ons  contained  in  the  PEA  are  accurate  and  complete.   Forward‑looking  statements  involve  known  and  unknown  risks,  uncertain8es  and  other  factors  which  may  cause  the  actual  results,  performance  or  achievements  of  the   Company  to  be  materially  different  from  any  future  results,  performance  or  achievements  expressed  or  implied  by  the  forward‑looking  statements.  Such  factors  include,  among   others,  general  business,  economic,  compe88ve,  poli8cal  and  social  uncertain8es;  the  actual  results  of  current  and  future  explora8on  ac8vi8es;  actual  results  of  reclama8on   ac8vi8es;  conclusions  of  economic  evalua8ons;  changes  in  project  parameters  and/or  economic  assessments  as  plans  con8nue  to  be  refined;  future  prices  of  metals;  possible   varia8ons  of  mineral  grade  or  recovery  rates;  the  risk  that  actual  costs  may  exceed  es8mated  costs;  failure  of  plant,  equipment  or  processes  to  operate  as  an8cipated;  accidents,   labour  disputes  and  other  risks  of  the  mining  industry;  poli8cal  instability;  delays  in  obtaining  governmental  approvals  or  financing  or  in  the  comple8on  of  development  or   construc8on  ac8vi8es,  as  well  as  those  factors  discussed  in  the  sec8on  en8tled  “Risk  Factors”  in  the  Company’s  Annual  Informa8on  Form.   Although  the  Company  has  acempted  to  iden8fy  important  factors  that  could  cause  actual  ac8ons,  events  or  results  to  differ  materially  from  those  described  in  forward‑looking   statements,  there  may  be  other  factors  that  cause  ac8ons,  events  or  results  to  differ  from  those  an8cipated,  es8mated  or  intended.  Forward‑looking  statements  contained   herein  are  made  as  of  the  date  of  this  presenta8on  and  the  Company  disclaims  any  obliga8on  to  update  any  forward‑looking  statements,  whether  as  a  result  of  new  informa8on,   future  events  or  results,  except  as  may  be  required  by  applicable  securi8es  laws.  There  can  be  no  assurance  that  forward‑looking  statements  will  prove  to  be  accurate,  as  actual   results  and  future  events  could  differ  materially  from  those  an8cipated  in  such  statements.    Accordingly,  readers  should  not  place  undue  reliance  on  forward‑looking  statements.   Some  technical  data  in  this  presenta8on  was  taken  from  the    technical  report  en8tled  “A  Preliminary  Economic  Assessment  of  the  Curraghinalt  Gold  Deposit,  Tyrone  Project,   Northern  Ireland dated  September  6,  2012,  prepared  by  B.  Terrence  Hennessey,  P.Geo.,  Mr.  Barnard  Foo,  P.ENG.,  Mr.  Bogdan  Damjanovic,  P.ENG,  Mr.  Andre  Villeneuve,   P.ENG.,  and  Mr.  Christopher  Jacobs,  CEng  MIMMM  of  Micon  Interna8onal  Limited  (the   PEA ).   Michele  L.  Cote,  MSc.,  P.  Geo.,  VP  Explora8on,  Dalradian  Resources  Inc.,  is  the  Qualified  Person  who  supervised  the  prepara8on  of  the  explora8on  technical  data  in  this   presenta8on.   2
    • Capital  Structure   STOCK  PRICE   All  dollars  quoted  in  $  CAD   TSX:   DNA   Shares  outstanding:   Fully  diluted:   (August  30,  2013)   89.5  million   97.0  million   Market  cap:   (September  11,  2013)   $71.6  million   Average  30  day  volume:   (September  3,  2013)   138,326   52  Week  Range:   $1.90  -­‐  $0.48   Insider  ownership:   (approximate)   7%   Cash  balance:   (as  at  June  30,  2013)   $12.6  million   Analyst  coverage:   (targets  range  from     $1.90-­‐$1.30)       Jamie  Sprac                Steve  Parsons      Michael  Curran                                  Laurie  Cur8s       John  Hayes                                            Bart  Jaworski   4   $1,400.00   $1,500.00   $1,600.00   $1,700.00   $1,800.00   $1,900.00   $2,000.00   $0.00   $0.50   $1.00   $1.50   $2.00   $0.80 September 11, 2013 DNA   Gold  Price   $  CAD  
    • The  Board:  A  Track  Record  of  Discovery,  Development  &  Produc;on   5   PATRICK  F.  N.  ANDERSON   CHIEF  EXECUTIVE  OFFICER   Founder  &  Former  CEO  of  Aurelian  Resources   ‘08  –  PDAC  Interna;onal  Mineral  Discovery   ‘08  –  Northern  Miner  Man  of  the  Year     JONATHAN  A.  RUBENSTEIN   Director  of  Eldorado  Gold  Corpora;on   Director  of  Detour  Gold   Chairman  &  Director  of  MAG  Silver  Corp.   Former  Director  of  Aurelian  Resources,  Suaon   Resources,  Canico  Resource  Corp  &   Cumberland  Resources   RONALD  P.  GAGEL   Former  SVP  and  CFO  of  FNX  Mining   THOMAS  J.  OBRADOVICH   CHAIRMAN     Founder  &  Former  CEO  of  Young-­‐Davidson  Mines   Former  Director  of  Aurelian  Resources   SEAN  E.  O.  ROOSEN   Founder  &  CEO  OF  Osisko  Mining  Corpora;on   Also  Director  of  Astur  Gold   ‘06  –  Prospector  of  the  Year  -­‐  Quebec   ‘08  –  Prospector  of  the  Year  -­‐  Canada   ‘09  –  Northern  Miner  Man  of  the  Year       Founder  &  CEO  OF  CONTINENTAL  GOLD  LIMITED   ARI  B.  SUSSMAN   GRENVILLE  THOMAS   Founder  &  Chairman  of  Strongbow  Explora;on  Inc.   Founder  &  Former  Chairman,  President  &  Director  of   Aber  Resources  (Harry  Winston  Diamond  Corp.)  now   Dominion  Diamond   ‘99  –  PDAC  Prospector  of  the  Year     ‘01  –  Northern  Miner  Man  of  the  Year   ‘09  –  Canadian  Mining  Hall  of  Fame  
    • Development  of  a  High-­‐Grade  Deposit    in  a  Low  Risk  Jurisdic;on   6   §  Gold  resource  covers  a  frac8on  of   known  mineraliza8on   §  High-­‐grade  2.7M  ounce  gold  resource   (all  categories)1   −  Measured:  0.02  MT  grading  21.51  g/t  Au   for  10,000  contained  ounces   −  Indicated:    1.11  MT  grading  12.84  g/t  Au   for  460,000  contained  ounces   −  Inferred:    5.45  MT  grading  12.74  g/t  Au   for  2.23  million  contained  ounces   §  Posi8ve  PEA  shows  a  high  margin  and   low  capex  producer   NORTHERN  IRELAND   1  Refer  to  press  release  dated  Nov.  30,  2011  en8tled  “Dalradian  Announces  Resource  Increase  at   Curraghinalt”  at  www.dalradian.com  
    • Metal  Produc;on  in  Ireland  &  the  UK   §  Our  flagship  asset:  Curraghinalt  high-­‐grade  lode   gold  deposit   §  Excellent  regional  infrastructure   §  Over  84,000  hectares  under  license   §  Recent  surge  in  gold  sector   8   Gor8n   Omagh   Curraghinalt   BELFAST   NORTHERN   IRELAND   Galantas   Gold   Conroy   Diamonds   &  Gold   Lonmin   Irish  Salt   Mining   Underground   Salt  Mine   Clon;bret   Croagh  Patrick   Parys  Mountain   Gwynfynydd   Galmoy   Avoca   Pallas  Green   Silvermines   South  Crohy   Curraghinalt  Gold   Deposit   Gold   Base  Metals   Salt  Mine   Allihies  Copper   Mines   Galantas  Gold   In  produc8on   Scotgold   Permiced   Vedanta  Resources   In  produc8on   Boliden   In  produc8on   IMC  Explora;on   354  g/t  gold  over  1.5m   Lundin   In  produc8on   Conroy   +1M  ounce  resource   Lisheen   Cononish   Tara   Cavanacaw   Xstrata   Feasibility   Gold  Mines  of  Wales   U/G  grab  sample  -­‐  263  g/t  gold     Clogau  
    • 2009   • Project   Acquisi8on  -­‐   December   • 600  k  ounce  gold   resource1   2010   • Increased  to  1.5   M  ounce  gold   resource1   • IPO  -­‐  August   2011   • 7  rigs  onsite   • Increased  to  2.7   M  ounce  gold   resource1   2012   • Robust  PEA   announced     • New  discovery  -­‐   Alwories   2013   • Underground   explora8on   development   permits   submiced     In  Three  Years  We  Have:   1  Refer  to  appendix  or  press  release  dated  Nov.  30,  2011  en8tled  “Dalradian  Announces  Resource   Increase  at  Curraghinalt”  at  www.dalradian.com   9  
    • DG3   Gor;n   County  Tyrone  is  Resource  Friendly   10   Curraghinalt   Alwories  Quarry   kilometres 0 1 2 Curraghinalt   Clear  Cut  Logging  at  Gor8n  Glen  Forest  Park   125  Metres Greencastle  Quarry   Cavanacaw  Open  Pit  Approx  30  km  SW  
    • Social  License   11  Dalradian  supports  the  local  MS  Society     Awarded  in   Top  30  Irish-­‐ North   American   Companies   for  2012  &   2013   “Dalradian  makes  every  effort  to  maintain  good  community  rela8ons,  protect  the  environment  and  work  with   all  local  people  providing  employment  and  training.”   ”The  company  communicates  with  local  land  owners  on  a  daily  basis  and  holds  public  mee8ngs  with  the  wider   community  in  a  nearby  hall  regularly.”   “The  employment  produced  from  this  venture  is  cri;cal  to  local  work  forces  at  this   ;me.    I  urge  you  to  grant  approval.”   “As  someone  who  has  worked  with  DGL  and  been  on  site,  I  have  experienced  and  been  fully  impressed  with   their  environmental  mi8ga8on  measures  and  health  &  safety  procedures.”   “It  makes  economic  sense  to  allow  DGL  to  determine  whether  a  future  mining  project  is  viable.  Not  giving  planning   permission  would  be  to  send  out  a  clear  signal  that  Northern  Ireland  is  not  open  for  investment  from  outside   companies.”   “It  is  incomprehensible  that  our  local  youth  are  having  to  travel  12,000  miles  to  work  in  explora;on   and  extrac;on  of  mineral  resources  when  we  have  poten;al  similar  opportuni;es  a  mile  away.     Every  effort  should  be  made  to  expedite  this  project  safely  and  effec;vely.”   Epicdocs.planningni.gov.uk. 2011. Public Access. Available at: http://epicdocs.planningni.gov.uk/ShowCaseFile.aspx?appNumber=K/ 2013/0072/F Accessed: 19 Aug 2013.  
    • Intercept in hole 11-CT-99 projected up dip to 170m mSL A  12km  Gold  Trend   GLACIATED TERRAIN WITH MINIMAL OUTCROP 12 km 1700m Curraghinalt Deposit Curraghinalt Trend 13   Curraghinalt Trend Veins in Current Resource Intersected Veins Historical Findings Geochem Anomaly Curraghinalt Deposit Resource as at Nov 2011 – Measured: 0.01 Moz Au (0.02MT @ 21.51 g/t) Indicated: 0.46 Moz Au (1.11MT @ 12.84 g/t) Inferred: 2.23 Moz Au (5.45 MT @ 12.74 g/t) Golan Burn Outcropping veins including 60cm @ 61.43 g/t Au Alwories Discovery Holes 4.72m @ 14.82 g/t Au 2.22m @ 14.10 g/t Au 1.47m @ 23.6 2g/t Au 400 m Step-out 3.2m @ 5.34 g/t Au Attagh Burn 2.47m @ 18.99 g/t Au A A’
    • Curraghinalt:  A  Growing  Resource   14   2.22  m  @  14.1  g/t  Au   1.47  m  @  23.6  g/t  Au   Alwories 3.6 km Curraghinalt 2007  Resource   2010  Resource   2011  Resource   2012  Interpreted  vein  extents   Drilling  post  2011  Resource   4.72  m  @  14.82  g/t  Au   0m  asl   -­‐500m  asl   -­‐1000m  asl   257500E   258000E   258500E   259000E   259500E   A A’ 3.20  m  @  5.34  g/t  Au   2.47  m  @  5.19  g/t  Au   8.34  m  @  5.84  g/t  Au  
    • Preliminary  Economic  Assessment   16 16 KEY  PEA  DATA*   3  YEAR  TRAILING   AVERAGE  GOLD  PRICE:   $1378/ounce   5  YEAR  TRAILING   AVERAGE  GOLD  PRICE:   $1,166/ounce   NPV  with  8%  discount  rate  (A^er-­‐tax)   $467  million   $331  million   IRR  (A^er-­‐tax)   41.9%   33.4%   Average  Annual  Produc8on   145,000  ounces/year   Processing  Rate   1,700  tonnes/day   Life  of  Mine   15  years   Ini8al  Capex  ($38M  con8ngency)   $192  million   Cash  Costs   $532/ounce  or  $125/tonne   Diluted  Grade   8.1  g/t  Au   Gold  Recovery   92%   Payback   2  years   All  dollars  quoted  in  $  USD  unless  stated  otherwise   PEA  results  released  on  July  25,  2012.    The  PEA  is  preliminary  in  nature.    It  includes  inferred  mineral  resources  that  are  considered  too  specula8ve  geologically  to  have  the  economic  considera8ons  applied  to   them  that  would  enable  them  to  be  categorized  as  mineral  reserves.    There  is  no  certainty  that  the  results  of  the  PEA  will  be  realized.   *  Prepared  by  Micon  Interna8onal  Limited  
    • Curraghinalt  Adit   18 Working  off  exis8ng   infrastructure,  we   plan  to  begin   advancing  on  the   veins    
    • Underground  Explora;on  Development   Proposed  Access  Ramp   to  Sub-­‐Level   Proposed  Tunnel  Extensions   at  Sub-­‐Level   Proposed  Tunnel  Extensions   at  170  M  Level   Exis;ng  Explora;on   Tunnel   T17 No.  1 106-­‐16 Bend Crow Road Sheep  Dip Mullan § Dalradian  has  requested  planning   permission  to  complete  approximately   2,000  m  of  underground  explora8on   development   §  Extend  the  exis8ng  adit  by   approximately  260  m  to  intersect   all  known  veins;   §  Dri^  along  several  of  the  known   veins  &  demonstrate  vein   con8nuity;   §  Install  a  ramp  to  access  150  m  level,   approximately  20  m  below  exis8ng   workings;   §  Removal  of  large  bulk  sample  for   metallurgical  test  work.   19
    • 20 Conceptual  Sublevel  Development 2,000  m  Planned  with  the  Goal  to:   •  Demonstrate  con8nuity  of  thickness  and  grade  of  mineralized  veins.   •  Convert  addi8onal  resources  to  Measured  and  Indicated.   •  Test  mining  and  backfill  methods.   •  Inves8gate  geotechnical  and  hydrogeological  condi8ons.   •  Produce  a  bulk  sample  for  metallurgical  test  work.   •  Test  the  permiwng  process.   ROAD   SHEEPDIP   MULLAN   T17   No.  1   106_16   BEND   CROW   EXISTING  DEVELOPMENT   PLANNED     DEVELOPMENT   PLANNED     DEVELOPMENT   PLANNED     STOPING   20
    • Where  We’re  Headed     21 §  Deposit  re-­‐evalua8on        Ongoing   §  Drill  results  finalized      Ongoing   §  Historic  sampling  program  comple8on    Ongoing   §  Historic  sampling  interpreta8on  &  results    Ongoing   §  EIA  Requirement  Determina8on    Not  Required   §  Underground  permit      Ongoing   §  Underground  Program  Planning    Ongoing           NORTHERN  IRELAND   ✓
    • Next  Stop   Underground  Tour  of  Curraghinalt  Deposit  
    • The European Explorer Patrick F. N. Anderson Chief Executive Officer Investor Relations Shae-Lynn Mathers Director, Investor Relations smathers@dalradian.com 416.583.5622 Trading Symbol: DNA on TSX DRLDF on OTCQX Corporate Office: Dalradian Resources Inc. 155 Wellington Street West Suite 2920 Toronto, Ontario Canada M5V 3H1 www.dalradian.com
    • Oslo   Kongsberg SOUTHERN  NORWAY   NORWAY   FINLAND   SWEDEN   RUSSIA   Land  Posi;on   Northern  Norway   §  Four  concessions  over  three  greenstone  belts  and  a   basement  window   §  10  gold-­‐in-­‐+ll  anomalies  iden+fied   Southern  Norway   §  Kongsberg  concession  hos8ng  an  historic  silver  mining  district   §  Five  silver  targets  iden+fied     Rombak NORTHERN  NORWAY   Greenstone  Belts   Volcanic  Belts   &  Metasediments   Kautokeino Kiwlä   Sakawlampi   Bidjovagge   Pasvik Karasjok Pechenga   NORWAY   FINLAND   SWEDEN   RUSSIA   24
    • 43-­‐101  Resource   25 §  High-­‐grade  1.5M  ounce  gold  resource   (all  categories)1   −  Indicated:    0.95  MT  grading  13.24  g/t  Au  for  400,000   contained  ounces   −  Inferred:    2.46  MT  grading  14.64  g/t  Au  for  1.16  million   contained  ounces   2010  RESOURCE   Northern   Ireland   Norway   1  Refer  to  press  release  dated  Nov.  30,  2011  en8tled  “Dalradian  Announces  Resource  Increase  at  Curraghinalt”  at  www.dalradian.com   2011  RESOURCE   §  High-­‐grade  2.7M  ounce  gold  resource   (all  categories)1   −  Measured:  0.02  MT  grading  21.51  g/t  Au  for  10,000   contained  ounces   −  Indicated:    1.11  MT  grading  12.84  g/t  Au  for  460,000   contained  ounces   −  Inferred:    5.45  MT  grading  12.74  g/t  Au  for  2.23  million   contained  ounces   2007  RESOURCE   §  High-­‐grade  600  k  ounce  gold  resource   (all  categories)1   −  Indicated:    0.57  MT  grading  13.95  g/t  Au  for  250,000   contained  ounces   −  Inferred:    0.64  MT  grading  17.15  g/t  Au  for  350,000   contained  ounces