"Superior Financial Returns
"Superior Financial Returns
Through Discovery"
Through Discovery"
"Superior Financial Returns
"Superior Financial Returns
Through Discovery"
Through Discovery"
Through Discovery
Through Discovery
Through Discovery
Through Discovery
Integra AGM
Integra AGM
Integra AGM
Integra AGM
1
20 November 2009
20 November 2009
20 November 2009
20 November 2009
Disclaimer
Disclaimer
Disclaimer
Disclaimer
This presentation contains only a brief overview of Integra Mining Limited and its associated entities
("Integra") and their respective activities and operations. The contents of this presentation, including
matters relating to the geology of Integra's projects, may rely on various assumptions and subjective
interpretations which it is not possible to detail in this presentation and which have not been subject to any
interpretations which it is not possible to detail in this presentation and which have not been subject to any
independent verification.
This presentation contains a number of forward-looking statements.
Known and unknown risks and
uncertainties, and factors outside of Integra's control, may cause the actual results, performance and
achievements of Integra to differ materially from those expressed or implied in this presentation.
To the maximum extent permitted by law, Integra does not warrant the accuracy, currency or completeness
of the information in this presentation, nor the future performance of Integra, and will not be responsible for
l
d
i i
f
th
f th i f
ti
any loss or damage arising from the use of the information.
The information contained in this presentation is not a substitute for detailed investigation
or
analysis
of
any
particular
issue.
Current
and
potential
investors
and
shareholders
should
seek
independent
advice
before
making
any
investment
decision
in
regard
to
should
seek
independent
advice
before
making
any
investment
decision
in
regard
to
Integra or its activities.
2
Who is Integra?
Who is Integra?
Who is Integra?
Who is Integra?
We are an emerging Western Australian gold producer with:
We are an emerging Western Australian gold producer with:
JORC Resource: 1.8 million ounces at 2.7 g/t gold at Aldiss-Randalls
Imminent Production: Phase 1 Randalls Gold Project
Low-risk
Low operating cost
L
it l
t " t t "
j t
Low capital cost "starter" project
High-grade 3.1 g/t gold from 2 open pits
Very strong financial returns (IRR 71%)
Very strong financial returns (IRR 71%)
Assets: 100% owned gold processing facility and 140-man modern
mining camp
Track Record of Discovery: High-grade gold discovery at Salt Creek
and excellent potential for additional discoveries
3
Our Strategy
Our Strategy
Our Strategy
Our Strategy
To develop a long
To develop a long--term gold mining business based on assets
term gold mining business based on assets
located east of Kalgoorlie:
located east of Kalgoorlie:
1.
Phase 1 open pit production justifies capital development of a
t
d l
ti
ith
t
fi
i l
t
stand-alone operation with very strong financial returns
2.
Using the established infrastructure and cash flow from Phase 1
mining develop additional production opportunities within our
mining, develop additional production opportunities within our
existing Mineral Resources inventory:
Maxwells, Santa and Cock-eyed Bob underground production
Phase 2 open pit production
3.
Upgrade the processing facility to1.2 Mtpa
4.
Progressively increase production from an initial 75,000 ounces
per annum to a target of +140,000 ounces per annum
5
C
ti
t
dditi
l di
t
iti
4
5.
Continue to pursue additional discovery opportunities
Target
Target Randalls
Randalls Gold Production
Gold Production
Target
Target Randalls
Randalls Gold Production
Gold Production
180 000
45000
50000
Phase 1 Open Pits
S
U d
d
p
a
150,000
180,000
40000
45000
n
n
Santa Underground
Cock-eyed Bob Underground
Maxwells Underground
Phase 2 Open Pits
A
li
d P d
ti
e to
1.2Mt
p
120,000
30000
35000
Productio
n
P
roductio
n
Annualised Production
Mill upgrad
ning
90,000
20000
25000
l
ised Gold
e
rly Gold
P
Commissio
60,000
10000
15000
Annua
l
Quart
e
u
ction
a
nd
0
30,000
0
5000
Constr
u
5
0
0
2009_Q1
2009_Q3
2010_Q1
2010_Q3
2011_Q1
2011_Q3
2012_Q1
2012_Q3
2013_Q1
2013_Q3
2014_Q1
2014_Q3
2015_Q1
2015_Q3
2016_Q1
2016_Q3
2017_Q1
2017_Q3
2018_Q1
2018_Q3
2019_Q1
2019_Q3
2020_Q1
2020_Q3
Corporate Overview
Corporate Overview
Corporate Overview
Corporate Overview
Integra Mining
Millions
e
c
e
ASX Code:
IGR
Fully paid shares on issue*
~580M
Options
~62M
0 20
0.25
0.30
0.35
0.40
6
8
10
12
n
gV
o
l
u
m
e
Sh
a
r
e
P
r
i
c
Share Price
31c
Range (12 month)
9.9c 38c
Market Cap
$180M
0.00
0.05
0.10
0.15
0.20
0
2
4
6
D
ai
l
y
Tr
adi
n
Monthly Volume (shares)
~26M
Cash (20 Nov 2009)*
~$34.3M
Directors
20
Nov
08
20
De
c
08
20
Ja
n
09
20
Fe
b
09
20
Ma
r
09
20
Ap
r
09
20
Ma
y
09
20
Ju
n
09
20
Ju
l
09
20
Au
g
09
20
Se
p
09
20
Oc
t
09
D
Directors
Graeme Beissel - Chairman
Chris Cairns - Managing Director
Peter Ironside - Director / Company Secretary
Substantial Shareholders
Acorn Capital
7.3%
RMB Australia
6.4%
Peter Ironside - Director / Company Secretary
Richard Maltman Non-Executive Director
Rowan Johnston Director
JP Morgan
4.1%
Pala Investments*
6.4%
Barrick Gold of Australia
1.6%
6
*
post tranche 1 of recent $40m capital raising, SPP and options exercise but
excluding tranche 2 expected to be an additional ~$27m
Top 20 shareholders
34.3%
*May be higher refer UBS substantial sharholding notice 18/11/09
Aldiss
Aldiss--Randalls Gold Project
Randalls Gold Project
Aldiss
Aldiss--Randalls Gold Project
Randalls Gold Project
7
JORC Resources*
JORC Resources*
JORC Resources*
JORC Resources*
Project
Indicated
Inferred
Total
Project
Area
Indicated
Inferred
Total
Tonnes
Grade
Ounces
Tonnes
Grade
Ounces
Tonnes
Grade
Ounces
Aldiss
6,600,000
2.2
460,000
400,000
3.0
40,000
7,000,000
2.2
500,000
Randalls
4,880,000
3.8
590,000
5,930,000
2.8
540,000
10,810,000
3.3
1,130,000
Mt
2 000 000
2 0
130 000
2 000 000
2 0
130 000
Mt
Monger
-
-
-
2,000,000
2.0
130,000
2,000,000
2.0
130,000
Total
11,490,000
2.8
1,052,000
8,390,000
2.7
709,000
20,000,000
2.7
1,800,000
Highlights:
Maxwells Resource
2 4Mt at 5 2 g/t gold for 410 000 ounces
Maxwells Resource
2.4Mt at 5.2 g/t gold for 410,000 ounces
Salt Creek
4.6Mt at 2.7 g/t gold for 400,000 ounces
8
*Please refer to ASX releases 10/01/08 & 26/06/08 for full details.
Salt Creek Discovery
Salt Creek Discovery
Salt Creek Discovery
Salt Creek Discovery
Salt Creek
Salt Creek
9
Salt Creek
Salt Creek Section 25140mN
Section 25140mN
Salt Creek
Salt Creek Section 25140mN
Section 25140mN
SKRC209
18m @ 8.85 g/t gold
18m @ 8.85 g/t gold
28
@ 3 45 /t
ld
28
@ 3 45 /t
ld
·
18m @ 8.85
g/t gold
SKRC210
·
28m @ 3 45
g/t gold
28m @ 3.45 g/t gold
28m @ 3.45 g/t gold
·
28m @ 3.45
g/t gold
SKRC211
·
39m @ 3.08
g/t gold
@
g g
39m @ 3.08 g/t gold
39m @ 3.08 g/t gold
10
Salt Creek
Salt Creek Section 25120mN
Section 25120mN
Salt Creek
Salt Creek Section 25120mN
Section 25120mN
SKRC029
11m @ 4.37 g/t gold
11m @ 4.37 g/t gold
·
11m @ 4.37
g/t gold and
·
23m @ 4.62
g/t gold incl
4 @ 15 04
/t
ld
39m @ 3.66 g/t gold
39m @ 3.66 g/t gold
·
4m @ 15.04
g/t gold
SKRC030
·
25m @ 2 73
g/t gold
25m @ 2.73
g/t gold
SKRC081
·
39m @ 3.66
g/t gold
23m @ 4.62 g/t gold
23m @ 4.62 g/t gold
25m @ 2.73 g/t gold
25m @ 2.73 g/t gold
11
Salt Creek
Salt Creek Section 25100mN
Section 25100mN
Salt Creek
Salt Creek Section 25100mN
Section 25100mN
SKRC201
21m @ 6.39 g/t gold
21m @ 6.39 g/t gold
·
21m @ 6.39
g/t gold
SKRC202
·
31m @ 2 35
g/t gold
·
31m @ 2.35
g/t gold
SKRC203
·
9m @ 4.14
g/t gold
@
g g
SKRC204
·
40m @ 2.53
g/t gold
31m @ 2.35 g/t gold
31m @ 2.35 g/t gold
40m @ 2.53 g/t gold
40m @ 2.53 g/t gold
12
The Foundation
The Foundation Phase 1
Phase 1
The Foundation
The Foundation Phase 1
Phase 1
Integra's recently completed Bankable Feasibility Study*
demonstrated strong financial returns from Phase 1
including:
O
f
f $192
Pre-Tax Operating Profit of A$192M
Net Pre-Tax Profit after Capital of A$128M
Capital Cost $64M
IRR 71%
Production of 75,000oz pa
Estimated A$574/oz cash cost
Ore Reserves of 320,000oz
Estimated average open pit production grade of 3.1 g/t gold
13
*See ASX release 24 July 2009
The Foundation
The Foundation -- Robust
Robust
The Foundation
The Foundation -- Robust
Robust
The risk of under-performance in key production parameters is considered
LOW
d th
ili
f th
j t h
` t
t t d' i EXCELLENT
LOW and the resilience of the project when `stress tested' is EXCELLENT
100%
120%
60%
80%
100%
c
t I
R
R
20%
40%
60%
Pr
o
j
e
c
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Gold Price
51%
56%
61%
66%
71%
75%
80%
85%
89%
0%
20%
Gold Price
51%
56%
61%
66%
71%
75%
80%
85%
89%
Salt Creek Ore Grade
40%
48%
55%
63%
71%
79%
87%
95%
103%
Maxwells Ore Grade
64%
66%
67%
69%
71%
72%
74%
75%
77%
Salt Creek Ore Tonnes
55%
59%
63%
67%
71%
74%
76%
79%
81%
M
ll O
T
66%
67%
68%
70%
71%
72%
73%
74%
75%
14
Maxwells Ore Tonnes
66%
67%
68%
70%
71%
72%
73%
74%
75%
Mining Costs
73%
73%
72%
71%
71%
70%
69%
69%
68%
Plant Capex
88%
83%
79%
74%
71%
67%
64%
61%
58%
The Foundation
The Foundation -- Timeline
Timeline
The Foundation
The Foundation -- Timeline
Timeline
Mining Lease granted
Mining Lease granted
`Preferred Contractor' status awarded to GR Engineering for
process plant refurbishment, construction and commissioning
process plant refurbishment, construction and commissioning
Mining tenders received and being evaluated
Regulatory approvals expected mid-December
Regulatory approvals expected mid December
Westpac and BNP Paribas mandated to provide project finance
Financing documentation expected completed in December
Financing documentation expected completed in December
On-ground construction expected to commence in December
Salt Creek pre strip to commence March 2010
Salt Creek pre-strip to commence March 2010
Process plant commissioning and first gold pour August 2010
15
Maxwells
Maxwells Underground Potential
Underground Potential
Maxwells
Maxwells Underground Potential
Underground Potential
Recent drilling results:
9.77 metres at 34.07 g/t gold including:
6.1 metres at 53.11 g/t gold
12 metres at 20.91 g/t gold including:
5 metres at 46.26 g/t gold
g g
11 metres at 12.85 g/t gold including:
4 metres at 31.73 g/t gold
g g
3 metres at 19.10 g/t gold
16.2 metres at 10.06 g/t gold including:
16.2 metres at 10.06 g/t gold including:
1 metre at 40.81 g/t gold
1 5 metres at 54 90 g/t gold
17
1.5 metres at 54.90 g/t gold
Maxwells
Maxwells Underground Potential
Underground Potential
Maxwells
Maxwells Underground Potential
Underground Potential
The Randalls Gold Project BIF-hosted gold deposits have
excellent underground production potential:
Maxwells Mineral Resource long section
Multiple parallel vertically dipping mineralised BIF horizons
From surface to 150m depth 2,700 oz/vm (+3.5g/t lower cut)
Average grade (+3.5g/t) is 6.3 g/t gold
i.e. 100 vertical metres contains 270,000 ounces at a grade of
18
,
g
6.3 g/t gold at +3.5 g/t gold
Maxwells
Maxwells Underground Potential
Underground Potential
Maxwells
Maxwells Underground Potential
Underground Potential
Maxwells Gold Deposit
9
10
3500
4000
Drilling density reduces
7
8
2500
3000
m
etre
g
y
5
6
2000
2500
gold grade
s
per
v
e
rtical
m
ounces per vertical metre
Tonnes x 100
3
4
1000
1500
ounce
s
Grade
1
2
500
19
0
0
350
360
370
380
390
400
410
420
430
440
450
460
470
480
490
mRL
Exploration
Exploration Finding the Next One
Finding the Next One
Exploration
Exploration Finding the Next One
Finding the Next One
E t
i
f S lt C
k h t
it
Extensions of Salt Creek host units
Prospects include:
Salt Creek North
Salt Creek North,
Salt Creek East,
Tiger Lily
Tiger Lily
Significant supergene gold aircore
anomalies of:
28m @ 0.53g/t gold
16m @ 0.73g/t gold.
20
Exploration
Exploration Finding the Next One
Finding the Next One
Exploration
Exploration Finding the Next One
Finding the Next One
Prior to the Salt Creek discovery,
this area was not considered
prospective
Discovery of a new gold camp
St Ives analogy
Extensive targeting review
providing a large number of
Priority 1 targets
With project development
imminent, Integra's ability to
realise the value of any additional
21
discovery is excellent
Yindarlgooda
Yindarlgooda Dome Analogue
Dome Analogue --
Kanowna
Kanowna
Kanowna
Kanowna
Granite
Granite
22
Yindarlgooda
Yindarlgooda Dome Analogue
Dome Analogue
Granite
Granite
Granite
Granite
Salt Creek
23
Essential Elements for Gold
Essential Elements for Gold
Mineralisation
Mineralisation
Essential Elements for Gold
Essential Elements for Gold
Mineralisation
Mineralisation
Mineralisation
Mineralisation
Mineralisation
Mineralisation
1
1 Fluid Source
Fluid Source
1.
1. Fluid Source
Fluid Source
2.
2. Structural Pathway
Structural Pathway
3.
3. Host Units
Host Units
4
4 G ld P
i it ti
M h
i
G ld P
i it ti
M h
i
4.
4. Gold Precipitation Mechanism
Gold Precipitation Mechanism
24
Yindarlgooda
Yindarlgooda Dome Structural
Dome Structural
Repitition
Repitition
Repitition
Repitition
Roof thrust
Side-wall structure/transfer
Lateral
ramp
Thrust horse
N
Direction of
thrust transport
25
Yindarlgooda
Yindarlgooda Targeting Exercise
Targeting Exercise
Targeting Strategy based on
observations from Salt Creek
observations from Salt Creek
Relog.
Five fundamental target types
were identified
- T1 Crustal Scale structure
terminating stratigraphy
g
g p y
- T2 Onlap of stratigraphy
on or adjacent to structure
- T3 Converging structure
T3 Converging structure
- T4 Observerved kink in
stratigraphy
T5 'Daisy Milano' style
- T5 Daisy Milano style
targets
Targets should also be in close
26
proximity to a slide contact
Yindarlgooda
Yindarlgooda Structure
Structure The Plumbing
The Plumbing
System
System
System
System
27
Mt Monger
Mt Monger The Plumbing System
The Plumbing System
28
Can't find the book you're looking for?
Can't find the book you're looking for?
Can't find the book you're looking for?
Can't find the book you're looking for?
Perhaps you are looking in the....
Perhaps you are looking in the....
Perhaps you are looking in the....
Perhaps you are looking in the....
29
Looking for a major gold deposit?
Looking for a major gold deposit?
Looking for a major gold deposit?
Looking for a major gold deposit?
It is best to look in rock types known to
It is best to look in rock types known to
h
t
f th l
t
ld d
it i
h
t
f th l
t
ld d
it i
host some of the largest gold deposits in
host some of the largest gold deposits in
the eastern goldfields....
the eastern goldfields....
30
Compositional comparison of St Ives
Compositional comparison of St Ives
Host Units and Salt Creek Host Unit
Host Units and Salt Creek Host Unit
Compositional comparison of St Ives
Compositional comparison of St Ives
Host Units and Salt Creek Host Unit
Host Units and Salt Creek Host Unit
Host Units and Salt Creek Host Unit
Host Units and Salt Creek Host Unit
Host Units and Salt Creek Host Unit
Host Units and Salt Creek Host Unit
31
Composition of Salt Creek Area
Composition of Salt Creek Area
Composition of Salt Creek Area
Composition of Salt Creek Area
32
Salt Creek Unit Classification
Salt Creek Unit Classification
Salt Creek Unit Classification
Salt Creek Unit Classification
33
Resources Growth Track Record
Resources Growth Track Record
Resources Growth Track Record
Resources Growth Track Record
2,000,000
1,600,000
1,800,000
Mt Monger
Randalls
1,200,000
1,400,000
c
es
Aldiss
800,000
1,000,000
G
old Oun
c
400 000
600,000
,
G
0
200,000
400,000
34
0
1
2
3
4
5
6
Aug 2004
Apr 2005
Jul 2005
Feb 2006
Jan 2008
Jun 2008
Conclusion
Conclusion
Conclusion
Conclusion
Dominant tenure position 60km east of Kalgoorlie
Dominant tenure position 60km east of Kalgoorlie
1.8 million ounces of Mineral Resources at 2.7 g/t gold
GRADE!!!
Expected open pit production grade of 3.1 g/t gold
GRADE!!!
Expected open pit production grade of 3.1 g/t gold
Quality, low-risk development proposition 71% IRR
Very robust project low sensitivity to adverse events
Very robust project low sensitivity to adverse events
Potential to increase production from an initial 75,000
ounces per year to +140 000 ounces per year by sequential
ounces per year to +140,000 ounces per year by sequential
introduction of underground production funded by cashflow
Track record of discovery and rapid resources growth
Track record of discovery and rapid resources growth
Excellent additional discovery potential in a new gold camp
Seeking Superior Financial Returns from Discoveries
Seeking Superior Financial Returns from Discoveries
35
Seeking Superior Financial Returns from Discoveries
Seeking Superior Financial Returns from Discoveries
Click to edit Master title style
Click to edit Master subtitle style
This is a summary report of information extracted from several Public Report(s) released by Integra Mining
Limited in 2007, 2008 and 2009. Information regarding Exploration Results and Mineral Resources in this
summary report is considered by Chris Cairns who is a member of the AIG and a Competent Person as
36
36
summary report is considered by Chris Cairns, who is a member of the AIG and a Competent Person as
defined in the JORC Code (2004), to be a fair and reasonable summary of the information in those Public
Report(s) and who agrees to the form and context in which it appears in this summary report.
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