• Like
  • Save
Gold 2013 Sydney - White Rock Minerals ASX:WRM
Upcoming SlideShare
Loading in...5
×
 

Gold 2013 Sydney - White Rock Minerals ASX:WRM

on

  • 457 views

Investor Presentation at the 2013 Gold Investment Symposium in Sydney, 16-17 October 2013. Presentation given by White Rock Minerals Managing Director, Geoff Lowe.

Investor Presentation at the 2013 Gold Investment Symposium in Sydney, 16-17 October 2013. Presentation given by White Rock Minerals Managing Director, Geoff Lowe.

Statistics

Views

Total Views
457
Views on SlideShare
457
Embed Views
0

Actions

Likes
0
Downloads
1
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Gold 2013 Sydney - White Rock Minerals ASX:WRM Gold 2013 Sydney - White Rock Minerals ASX:WRM Presentation Transcript

    • The Gold Investment Symposium October 2013 Gold & Silver in Eastern Australia
    • Disclaimer The presentation (in this projected form and as verbally presented) (“Presentation”) has been prepared by White Rock Minerals Limited in relation to the pro-rata nonrenounceable offer of new White Rock ordinary shares under section 708AA of the Corporations Act 2001 (Cth). This presentation is provided on the basis that none of the Company nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representation or warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Presentation and nothing contained in the Presentation is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company herby excludes all warranties that can be excluded by law. The Presentation contains prospective financial material which is predictive in nature and may be affected by inaccurate assumptions or by known or unknown risks and uncertainties and may differ materially from results ultimately achieved. This Presentation does not constitute an offer for sale, or a solicitation of an offer to purchase, any securities in any jurisdiction in which it would be unlawful. The Presentation contains “forward-looking statements”. All statements other than those of historical facts included in the Presentation are forward-looking statements. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement”. The Presentation contains general background information about the Company and its activities current as at the date of this presentation, October 2013. The information in this Presentation is in summary form only and does not contain all the information necessary to fully evaluate any transaction or investment. It should be read in conjunction with the Company’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au and other publicly available information on the Company available at www.whiterockminerals.com.au. This Presentation is not a prospectus, disclosure document or other offering document. It is for information purposes only and does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and does not form the basis of any contract or commitment. The Presentation, the entitlement offer and the contracts formed on acceptance of the relevant applications are governed by the laws applicable in Victoria, Australia. Each person who applies for new shares submits to the jurisdiction of the courts of Victoria, Australia. All persons should consider seeking appropriate professional advice in reviewing the Presentation and the Company. The information in this presentation that relates to Exploration Results or Mineral Resources is based on information compiled by Mr Rohan Worland who is a Member of the Australian Institute of Geoscientists and is a full time employee of White Rock Minerals Ltd. Mr Worland has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. The Exploration Potential described in this Presentation is conceptual in nature, and there is insufficient information to establish whether further exploration will result in the determination of a Mineral Resource Mr Worland consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The gold and silver Resource figures for Strauss, Kylo, Lady Hampden, Silver King, White Rock North and Red Rock have been taken from resource estimates prepared by Ravensgate Minerals Industry Consultants on behalf of White Rock Minerals Ltd and authored by Mr Don Maclean who is a professional geologist with more than 10 years’ experience in resource estimation. Mr Maclean is a Competent Person as defined by the JORC Code and consents to the inclusion in this presentation of references to this resource estimate in the form and context in which they appear. The gold and silver Resource figures for White Rock and Guy Bell have been taken from the resource estimate report dated 1 October 2008 prepared by Mining One Pty Ltd on behalf of Rex Minerals Ltd and authored by Dr Chris Gee who is a professional geologist with more than 10 years’ experience in resource estimation. Dr Gee is a Competent Person as defined by the JORC Code and consents to the inclusion in this presentation of references to this resource estimate in the form and context in which they appear. We have estimated the resources reported in this Presentation in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves 2004 Edition ("JORC Code"), which governs such disclosure by companies listed on the Australian Securities Exchange. The JORC Code differs in several significant respects from Industry Guide 7 of the U.S. Securities and Exchange Commission that governs disclosures of mineral reserves in registration statements and reports filed with the SEC. In particular, Industry Guide 7 does not recognize classifications other than proven and probable reserves, and the SEC does not permit mining companies to disclose mineral resources in SEC filings. 2 White Rock Minerals Ltd ASX:WRM October 2013
    • Mt Carrington Project…. The best place to find a new mine….. ….is under an old one. 3 White Rock Minerals Ltd ASX:WRM October 2013
    • WRM Corporate Overview Mt Carrington Project     Executive Summary Resources Exploration Development timeline Investment Case 4 White Rock Minerals Ltd ASX:WRM October 2013
    • Corporate Overview ASX : WRM Issued Capital: 184M shares, 9.9M options Cash: A$4.6M #, no debt Mineral Resources: 23.5M oz Ag & 0.34M oz Au Enterprise Value: A$2.4M EV / Resource oz: A$3/oz AuEq* Board & Management Brian Phillips – Non-Exec Chairman Geoff Lowe – Managing Director Steve Olsen – Non-Exec Director Peter Lester – Non-Exec Director Andrew Dart – Company Secretary / CFO Rohan Worland – Exploration Manager 5 Market Cap: A$7M @$0.04 / share Major Shareholders Avalon Ventures Corp Greenstone Property Silverstone Investment Board & Management Grand South Development Top 20: *AuEq and AgEq calculated at 65:1 Ag ASX:WRM White Rock Minerals Ltd : Au using metal prices of Au @ US$1,300 per oz and Ag @ US$20 per oz and does not account for mining or metallurgical recoveries; # Cash balance at 9 September following closure of Rights Issue 43.47% 9.81% 3.68% 2.60% 1.65% 69% October 2013
    • Mt Carrington Executive Summary & Investment Case Favourable Location: 350km south of Brisbane 100km to Sydney – Brisbane railhead Quality Shallow Resources: 23.5Moz silver & 0.34Moz gold Granted Leases with infrastructure Exploration Upside: Modern first mover, 70+ targets defined Commodities in demand: Au - Ag - Cu Positive Mining Scoping Study: Staged open pits with projected modest capex and operating costs; potential to enhance value in FS Feasibility Studies and Permitting: Resource upgrade drilling; environmental, infrastructure, water, power and marketing studies On track for commissioning and production in 2015/16 6 White Rock Minerals Ltd ASX:WRM October 2013
    • Mt Carrington Ag – Au Resources Gold:  Strauss, Kylo, Red Rock, Guy Bell deposits  0.34Moz Au @ 1.3g/t Au (0.5g/t - 0.7g/t cut)  45% Indicated / 55% Inferred Silver:  Lady Hampden, White Rock, White Rock North, Silver King deposits  23.5Moz Ag @ 58g/t Ag (25 g/t cut)  19% Indicated / 81% Inferred  Eight deposits - all from surface  Limited drilling to upgrade Resources  New Resource at Red Rock in July 13: 54koz Au from surface  Option on copper discoveries…. 7 White Rock Minerals Ltd ASX:WRM Resources reported in accordance with the JORC (2004) code. October 2013 See Appendix for full Resource tables.
    • Mt Carrington silver – gold Resources growth Gold Resource oz Gold Price (US$) 2,000 Gold 400,000 Silver Resource oz 30,000,000 Silver Price (US$) Silver 50.00 1,600 300,000 1,200 40.00 20,000,000 30.00 200,000 800 20.00 10,000,000 100,000 400 - 1991 2003 2009 Gold Price ($US) 2012 2013 Gold Resources (oz) 10.00 - 1991 2003 2009 Silver Price ($US) 2012 2013 Silver Resources (oz) 130% increase in gold Resource from 2003 to 2013 8 400% increase in silver Resource from 2003 to 2013 White Rock Minerals Ltd ASX:WRM October 2013
    • Mt Carrington Infrastructure Key Infrastructure in place to support future mining and de-risk development  Granted Mining Leases  1.5Mt Tailings Dam  750ML Freshwater Dam  Site Office  Water treatment plant  Access to State grid power Reduces development timeframe and capital cost < Tenterfield 50km 9 White Rock Minerals Ltd ASX:WRM Lismore 100km > October 2013
    • Mt Carrington Exploration: ‘Drake Volcanic Caldera’  Drake Caldera  Proof of Concept  Global analogies • Round Mtn (10Moz gold) • Creede (80Moz silver)  Epithermal style Au - Ag  Intrusive / Porphyry style Cu - Au  Limited work since mine closure  WRM Target Generation  Modern first mover advantage  70 new targets within 20km of central leases  2013 Exploration Focus  Central Leases: Au – Ag – Cu  Red Rock: Au – Ag  White Rock: Ag – Au 10 White Rock Minerals Ltd ASX:WRM October 2013
    • Exploration: Central Mining Leases  Strong opportunity to define new shallow Au-Ag Resources  Resource extensions  30 new targets Kylo  Potential for new copper discoveries 95koz Au Lady Hampden 8.1Moz Ag, 64koz Au Strauss Gladstone Cu  95% of previous drilling <100m depth 113koz Au All Nations Cu Guy Bell 13koz Au  Drilling in progress Carrington Cu Silver King 1.2Moz Ag 1km 11 White Rock Minerals Ltd ASX:WRM October 2013
    • Exploration: Red Rock Leases  Old Au – Cu mining centre 15km from central ML’s  Zoned epithermal Au-Ag stockwork with high grade veins  Several priority targets defined for drilling in 2012  Maiden Resource defined on first target in 2013  Deadman’s Zone: 54,000oz Au at surface, open along strike and down dip  Further drilling in progress 12 White Rock Minerals Ltd ASX:WRM October 2013
    • Exploration: White Rock Leases  Old Ag mining centre 6km from central ML’s  Inferred Resource 8.2Moz Ag  Resource upgrade drilling 2013  New Au zone discovered on SW margin of Ag Resource  Potential to add significant value  Drilling in progress to investigate Au zone 13 White Rock Minerals Ltd ASX:WRM October 2013
    • Exploration: The Copper option  Opportunity to define shallow supergene and deeper primary Cu Resources  Porphyry Cu-Au concept untested by previous explorers Kylo  Large shallow supergene Cu blankets with underlying ‘feeder’ structures identified White Rock Minerals Ltd Lady Hampden 8.1Moz Ag, 64koz Au Strauss Gladstone Cu 113koz Au Guy Bell 13koz Au Cu  Leverage on future flotation plant 14 95koz Au All Nations Cu  Evaluation in progress for 2014 drilling Au ASX:WRM Silver King Carrington Cu Ag 1.2Moz Ag 1km October 2013
    • Exploration: The Copper option Gladstone Prospect  45m @ 0.88% Cu from 40m (supergene)  9m @ 2.06% Cu from 104m (primary) All Nations Prospect  18.7m @ 5.9% Cu from 52.25m (primary, not true width)  Gold to 18g/t in primary quartz-sulphide veins Deeper porphyry Cu-Au concept unexplored 15 White Rock Minerals Ltd ASX:WRM October 2013
    • Mt Carrington Development Summary 2012 Scoping Study  Study demonstrated potential for cost-competitive open pit operation  Projected low capital and opex with conventional flotation flow sheet  Upside: increases in Au and Ag prices; increased Resource base; lower costs in FS optimisation 2013 /14 Prefeasibility Study  Focus on de-risking flow sheet, baseline studies, permitting, Resource upgrade drilling and metallurgical testwork  DFS from Q2 2014 16 The technical and economic assumptions used in calculating the scoping study base case of the project ASX:WRM are detailed in the WRM release to the ASX of 31 July 2012 White Rock Minerals Ltd October 2013
    • Mt Carrington Development Timeline CY14 Central Leases Development Studies White Rock Exploration Resource Drilling Near Mine Brownfields White Rock Minerals Ltd CY16+ Construction Feasibility & Permitting Production Construction Production Feasibility & Permitting Ongoing Project Evaluations & Opportunities 17 Feasibility & Permitting Drilling Red Rock CY15 As appropriate ASX:WRM October 2013
    • Investment Case – Why invest in White Rock Minerals? 100% Ownership and key focus on Mt Carrington; no funds bleeding to second tier projects, no JV dilution Location – NSW: Stable political, social and environmental jurisdiction; clear pathway for development permitting Resources - Robust 700,000 AuEq* in shallow deposits with clear growth upside Infrastructure - Significant mining assets in place, de-risks development & lowers capex Exploration - Modern first mover advantage in Drake Caldera; numerous near mine Gold – Silver targets and strong leverage on Copper Development Studies – Feasibility Studies progressing at a rate in line with cash reserves Management Team – Right mix of industry and corporate experience to execute strategy Value - Compelling value relative to Australian peers – EV / AuEq oz is $3 18 White Rock Minerals Ltd ASX:WRM *AuEq and AgEq calculated at 65:1 Ag : Au using metal prices of Au @ US$1,300 per oz and Ag @ US$20 per oz and does not account for mining or metallurgical recoveries October 2013
    • PO Box 195 Ballarat Vic 3353 Ph. 03 5331 4644 Email: info@whiterockminerals.com.au Website: www.whiterockminerals.com.au 19 White Rock Minerals Ltd ASX:WRM October 2013
    • Appendix 20 White Rock Minerals Ltd ASX:WRM October 2013
    • Board and Management Mr Brian Phillips – Non Executive Chairman AWASMMining (CEng.), FAusIMM, MIMMM Brian Phillips is a mining engineer with over 40 years experience in the mining industry. Mr Phillips joined MPI Mines Limited in 1992 and was Managing Director of that company from October 2002 until December 2004, followed by two years as Chairman of Leviathan Resources Limited. He was a Non Executive Director of Perseverance Corporation from January 2007 until February 2008, and was a Non Executive Director of Tawana Resources NL until July 2009 and Rex Minerals Limited until June 2010. He is a currently a Non Executive Director of Panoramic Resources Limited and Chairman of Indophil Resources NL. Mr Geoffrey Lowe – Managing Director B.Sc, MAusIMM Geoffrey Lowe is a geologist with over 26 years experience in greenfields and near mine exploration for gold and copper in Australia. His career includes 18 years with the Normandy Mining Group and Newmont Australia Ltd where he held geological and senior management positions in Queensland, Northern Territory and South Australia, followed by two years with Leviathan Resources Limited and Perseverance Corporation Limited. Mr Lowe joined Rex Minerals Limited as Exploration Manager in August 2007, establishing and managing the exploration portfolio and programs up to June 2010. Mr Lowe led the exploration team responsible for the discovery and delineation of the Hillside coppergold deposit in South Australia, and was appointed Executive Director – Exploration of Rex in February 2010. In 2008 he introduced the Mt Carrington project into the Rex portfolio, and managed the revalidation of the current Mineral Resources and generation of current exploration targets. Mr Lowe resigned from Rex in June 2010 to take up his appointment with White Rock. Mr Steven Olsen – Non Executive Director B.Sc (Hons), M.Sc. (MinEx), Grad. Dip (F&I), MAusIMM Steven Olsen has over 21 years experience in the resources industry with a background of 14 years working as a mine geologist and exploration geologist, predominantly in Western Australia and Canada, on nickel and gold deposits. Mr Olsen has had continued exploration success for both nickel and gold mineralisation throughout his career. Mr Olsen’s qualifications include a B.Sc. (Hons) University of Melbourne, a Masters in Mineral Exploration from Queens University, Ontario and a Graduate Diploma of Applied Finance and Investment from the Securities Institute of Australia. He is currently Executive Director of Rex Minerals Limited responsible for business development. Mr Peter Lester – Non Executive Director B.E (Mining), MAusIMM, MAICD Mr Lester has over 35 years’ experience in the mining industry, and has held senior executive positions with North Ltd, Newcrest Mining Limited, Oxiana Limited and Citadel Resource Group Limited. Mr Lester’s experience covers operations, project and business development and general corporate activities. Mr Lester is a nonexecutive director of Chesser Resources Limited, Toro Energy Ltd, Castlemaine Goldfields Ltd, Accessio Resources Pty Ltd and Nord Gold NV. Mr Andrew Dart – Company Secretary & Chief Financial Officer CPA, B. Comm Andrew Dart is a CPA and has 10 years experience in accounting and financial management. Mr Dart spent 9 years with Central Highlands Region Water Corporation before joining Rex Minerals in 2012 as Senior Accountant. Mt Dart joined White Rock Minerals as CFO in April 2013. Mr Rohan Worland – Exploration Manager BSc ( Hons), Grad. Dip (F&I), MAIG Rohan Worland is a geologist with 21 years exploration experience including 14 years with the Normandy and Newmont groups. Mr Worland recently held the roles of Exploration Manager with WCP Resources Limited, Buka Gold Limited and Rex Minerals Limited. He has extensive experience in a variety of gold deposit styles in Australia, North and South America and New Zealand. 21 White Rock Minerals Ltd ASX:WRM October 2013
    • Central Lease Resources – gold / silver 22 White Rock Minerals Ltd ASX:WRM October 2013
    • White Rock Resources - silver 23 White Rock Minerals Ltd ASX:WRM October 2013
    • Red Rock Resources – gold / silver 24 White Rock Minerals Ltd ASX:WRM October 2013
    • Mineral Resource Summary Resource Category Indicated MT CARRINGTON JORC (2004) MINERAL RESOURCES – JULY 2013 Silver Dominant Resources Gold grade Silver grade Deposit Tonnes Gold ounces (g/t) (g/t) Silver ounces Total 1,840,000 2,470,000 4,080,000 3,180,000 640,000 10,370,000 4,310,000 4,080,000 3,180,000 640,000 0.6 0.3 0.1 0.5 - 37,000 27,000 27,000 64,000 - 69 51 62 52 59 56 58 62 52 59 4,056,000 4,023,000 8,194,000 5,314,000 1,218,000 18,749,000 8,079,000 8,194,000 5,314,000 1,218,000 Total Inferred Lady Hampden Lady Hampden White Rock White Rock North Silver King Sub-Total Lady Hampden White Rock White Rock North Silver King 12,210,000 0.2 64,000 58 22,805,000 Silver grade (g/t) Silver ounces Gold Dominant Resources Resource Category Inferred Total Tonnes Gold grade (g/t) Gold ounces Strauss Kylo Sub-Total Strauss Kylo Red Rock Guy Bell Sub-Total Strauss Kylo Red Rock Guy Bell 1,240,000 1,590,000 2,830,000 1,260,000 760,000 1,630,000 160,000 3,810,000 2,500,000 2,350,000 1,630,000 160,000 1.4 1.2 1.3 1.4 1.5 1.0 2.5 1.3 1.4 1.3 1.0 2.5 57,000 59,000 116,000 56,000 35,000 54,000 13,000 158,000 113,000 95,000 54,000 13,000 Total Indicated Deposit 6,640,000 1.3 275,000 Total Resources 3.8 153,000 2.6 133,000 3.1 286,000 2.6 104,000 1.8 43,000 3.5 182,000 4.9 24,000 2.9 353,000 3.2 Resources 257,000 2.3 reported176,000 in 3.5 182,000 accordance with 4.9 24,000 3.0 the JORC (2004) 639,000 code Category Gold ounces Silver ounces Indicated Inferred Total 25 Tonnes 4,670,000 14,180,000 18,850,000 153,000 185,000 338,000 4,342,000 19,102,000 23,444,000 White Rock Minerals Ltd ASX:WRM October 2013
    • 2013-14 Strategy Exploration and Resource Expansion  Drilling to expand and upgrade the 0.7Moz AuEq Resource base     Drill test highest priority near-mine exploration targets from Q3 2013 Red Rock targets adjacent to the new Deadman’s Inferred Resource Q3 2013 White Rock deposit gold zone scoping Q4 2013 Resource upgrade drilling Q2 2014 Project Feasibility  Advance development programs to achieve PFS level confidence in 2014  Metallurgical test work to underpin optimal flow sheet design - ongoing  Environmental baseline studies in support of EIS - Q3 2013  Desk top engineering studies of infrastructure, water, power and transport - Q3/4 2013 Statutory permitting and approvals  NSW Conceptual Project Development Plan submission Q4 2013  NSW Director Generals Requirements Q1 2014  NSW Environmental Impact Statement submission Q2 2014 26 White Rock Minerals Ltd ASX:WRM October 2013