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ROMANG ISLAND
INDONESIA
AN EMERGING WORLD CLASS MULTI-COMMODITY RESOURCE
Disclaimer
This presentation contains forward-looking statements as defined or implied at common law and within the meaning
of the corporations law. Such forward-looking statements may include, without limitation: (i) estimates of future gold,
silver and base metal sales; (ii) estimates of future cash costs; (iii) estimates of future capital expenditure; (iv) statements
regarding the sensitivity of reserves to commodity prices; and (v) statements regarding future exploration results.
Where the company or any of its officers or directors or representatives expresses or implies an expectation or belief
as to future events or results, such expectation or belief is expressed in good faith and the company or its officers
or representatives as the case may be believe to have a reasonable basis for implying such an expectation or belief.
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, copper, silver and other metals price volatility, currency fluctuations, increased
production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational
risks in the countries in which we operate, and governmental regulation and judicial outcomes.
The company does not undertake any obligations to publicly release revisions to any forward looking statement, to reflect
events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may
be required under applicable securities laws.
Investment highlights
1.18 Moz gold equivalent1,2 JORC mineral resource estimate for Romang
Island, Indonesia
-
Corporate overview
Shareholder Analysis
Top 20 Shareholders
49,668,005
57%
1.25
Consolidated Entity
89.2
Cash at Bank
~$44.5 million3
Market Cap
$m
112
Debt
Nil
4
Experienced board
Romang Island
Volcanic Setting
Multiple Targets
Porphyry Style
Focus of Current
Drilling
Romang Island
Volcanic Setting
Multiple Targets
Porphyry Style
Focus of Current
Drilling
Lakuwahi
10
11
12
13
Lakuwahi
JORC Resource
15
JORC Resource
16
Lakuwahi
Above average recoveries coarse crush ore is for positive heap leach
technology
- Average gold recovery = 77% (range 68 - 87%)
- Average silver recovery = 41% (range 11 56%)
- Final silver recoveries can only be determined from extended column tests
which are planned during 2012
Ideal development sites selected for roads, ports and large leach pads
Very low stripping ratio, soft-rock mining
Development Work Schedule
- 2012: Pre-Feasibility & Environmental Baseline, some Infrastructure
- 2013 Feasibility & Permitting, start Construction
- 2014 Commissioning & Production 2014
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18
19
Villages
Roads
Airstrip
Pit locations
Tailings site
Leach pad
Port facilities
Plant & ponds
Camp
20
Lakuwahi
Social Licence
22
24
25
Milestones
Mar 12
Jun 12
Sep 12
Dec 12
Summary
The information in this presentation that relates to exploration results is based on data compiled by John Levings BSc, who
is a Fellow of the Australasian Institute of Mining and Metallurgy and who has more than ten years experience in the field of activity being
reported on. Mr Levings is a director of the company. Mr Levings 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 Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves. Mr Levings consents to the inclusion in the announcement of the matters based on his information in the form and context in
which it appears.
1. Gold equivalent = gold assay + (silver assay / 47) where the number 47 represents the ratio where 47 g/t Ag = 1g/t Au.
This ratio was calculated from the average of the 12 months of financial year 2011 from July 2010 to June 2011 taken from published world
bank commodity price data (http://www.worldbank.org). The metal prices thus used in the calculation are the average gold price of USD
$1371.36 per ounce and average silver price of USD $28.96 per ounce. 2. The Lakuwahi JORC resource was estimated by MCS two ways:
a) using no top cuts and b) applied top cuts for au (12 g/t) and Ag (350 g/t). Please refer to the the Robust Resources website that shows
the resources both for uncut and top-cut values. Since not many assays are above the top cut values; therefore, the resource totals are very
similar. 3. Subject to completion of definitive agreement signed with PT Kilau Sumber Perkasa, as announced 26 July 2011. 4. Ag
Equivalent (Silver Equivalent) = [(copper assay x copper price x 22.05) + (gold assay x gold price / 31.1) + (silver assay x silver price / 31.1)
+ (zinc assay x zinc price x 22.05) + (lead assay x lead price x 22.05)] / (silver price x 22.05). The metal prices used in the silver equivalent
calculation are the averages of the prices over the 12 months of Financial Year 2011 from July 2010 to June 2011 taken from published
World Bank Commodity Price data (http://www.worldbank.org). The metal prices thus used in the calculation are the average Gold price of
USD $1371.36 per ounce, average Silver price of USD $28.96 per ounce, average Copper price of USD $3.93 per pound, average Lead
price of USD $1.09 per pound and average Zinc price of USD $1.02 per pound. Preliminary metallurgical test results previously reported
indicate high and broadly equivalent flotation recoveries in sulphide zones for all metals used in the silver equivalent calculations (gold
recoveries average 84.3%, silver 93.0%, zinc 97.2%, lead 91.1% and copper 94.6%). Similarly in the oxide zones high and approximately
equivalent gold and silver recoveries of 94-95% have been previously reported from early-stage cyanide leach testing. Due to this broad
equivalence metallurgical recoveries are not factored into the calculation of silver equivalence.
28
Lakuwahi
All figures are rounded to reflect that they are approximate and any apparent summation differences in totals is due to this rounding
Marginal cut off grade used defining resource envelope 0.2 g/t Au or 10 g/t Au resource not optimized for base metals content
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robustresources.com.au