Presentation Addressing Current Precious Metals and Base Metals Projects
Perth, May 23, 2014 AEST (ABN Newswire) - Metals X Limited (
ASX:MLX) (MTXXY:OTCMKTS) provide a presentation addressing their current precious metals project and base metals projects. Below are some of the highlights:
4 Gold Projects + Current Acquisition
- Higginsville Gold Operations - in production (ex. Alacer Gold).
- South Kalgoorlie Operations - in production (ex. Alacer Gold).
- Central Murchison Gold Project - completed DFS.
- Rover 1 Gold Project - pre-feasibility stage.
- Meekatharra Gold Operations
- currently completing the acquisition.
- Exciting exploration prospects.
HIGGINSVILLE GOLD OPERATIONS
Higginsville Gold Operations (HGO) - mainly underground operation (Trident & Chalice), 1.3Mtpa CIP Plant, 1.5Moz Resource, producing at circa 150,000ozpa.
--------------------------------------------- Mar 2014 Qtr Dec 2013 Qtr---------------------------------------------Gold Produced 45,141 oz 42,442 ozTotal Cost of Sales A$979/oz A$903/oz---------------------------------------------
SOUTH KALGOORLIE OPERATIONS
South Kalgoorlie Operations (SKO) open pit & potential underground operation. 1.2Mtpa Plant - toll processing and owner processing. 5.7Moz resource base in multiple known ore sources.
--------------------------------------------- Mar 2014 Qtr Dec 2013 Qtr---------------------------------------------Gold Produced 3,208 oz 8,844 ozTotal Cost of Sales A$702/oz A$818/oz---------------------------------------------
CENTRAL MURCHISON GOLD PROJECT (CMGP)
DEVELOPMENT READY 100,000 OZ PA PROJECT
Total Mineral Resource- 61.6Mt @ 2.52g/t 4.96Moz
Initial Ore Reserve- 15.5Mt @ 2.36g/t 1.2Moz
DFS Results (2012):
- NPV8 A$142M.
- Average Life of Mine cash operating costs of A$980 per ounce.
- Core focus on high-grade underground mines as major long term ore feed.
- A pre-production Capital Cost estimate (including process plant, contingency & EPCM) of A$117M - for New Plant Option.
Acquisition of Meekatharra Gold Operations ($7.7M) dramatically changes the development scenario: new plant no longer needed, massive capital cost reduction.
MEEKATHARRA GOLD OPERATIONS
NEW ACQUISITION - SYNERGIES WITH THE CMGP
Total Mineral Resource- 63Mt @ 1.75g/t 3.55Moz
Initial Ore Reserve- 11.1Mt @ 2.1g/t 752Koz
Agreement has been reached (subject to FIRB and creditor approval) to acquire MKO from the administrators of GMK Exploration Pty Ltd.
- $7.7M purchase price, $7.1M cash, $600K Reed Resources Shares.
- $2 per Resource Ounce with plant and infrastructure in place.
- Fully refurbished Bluebird CIP plant (2.5 Mtpa capacity).
- Fully refurbished 200 person camp.
- Extensive infrastructure, service vehicles, equipment and inventory.
Changes the game when combined with the CMGP, a low capital cost for the in place infrastructure needed to jump start production.
METALS X LIMITED - SCORECARD
- Diversified - exposure shared across precious and base metals.
- Precious Metals - Gold:
- 2 Operations Producing Gold.
- 2 Growth Assets - Ready for Development.
- Base Metals:
- Tin Production and Growth (Unique).
- Development Ready Wingellina Nickel-Cobalt-Iron Project (Huge).
- Strong Financial Position:
- Cash $80M+ (No Debt).
- Strong Cash Flow (CY14 +$300M Rev, +$100M EBITDA).
- Market Capitalisation ~ A$430M, EV A$350M.
- Expansive portfolio of production and growth assets with significant upside.
CASH + CASH FLOW + DIVERSIFIED + GROWTH + HUGE UPSIDE
To view all tables, figures and the full presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MLX-678766.pdf
About Metals X Limited
Metals X Limited (
ASX:MLX) (OTCMKTS:MTXXY) is a Diversified Resource Company. Australia's largest tin and one of Australia's top 10 gold producers. Considerable cashflow is generated from its two operating gold mines at South Kalgoorlie and Higginsville in WA and from its 50% owned high grade tin mine in Tasmania which is also one of the largest hard rock tin mines in the world. The company boasts resources of over 14 Moz of gold, 140,000 tonnes of contained tin and over 2 million tonnes of contained nickel. The company also has a considerable portfolio of growth assets, including one production ready and one development ready gold project and one of the world's largest undeveloped nickel and cobalt projects.
The Central Murchison Gold Project consists of a fully refurbished 2.0Mtpa gold plant and resource containing over 8.6 Mozs of gold in a combination of high grade underground mines and lower grade open pits, expected to be in production in early 2015. The Company's Rover 1 iron-oxide-copper-gold discovery contains 1.2Moz of gold equivalence which is targeted for production in 2016.
The 100% owned world class Wingellina Nickel and Cobalt Project hosts a global resource of over 180Mt at 1% nickel that includes 167Mt as a probable reserve. Metals X has joined with one of the World's largest companies, Samsung C and T, to work together to finance and develop the Wingellina project.
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