re: att filbert ...
Apologies, can't stay to debate the merits, but just in case you still haven't gained access ...
Warm regards ...
: )
****
58 PEKO ROAD TENNANT CREEK NT 0860
PO BOX 1244 TENNANT CREEK NT 0861
Telephone 08 8962 4900 Facsimile 08 8962 2900
Email: [email protected]
Website: www.giantsreef.com.au
ABN 71 058 436 794
8 November 2004
The Manager
Company Announcements
Australian Stock Exchange Limited
Level 10, 20 Bond Street
SYDNEY NSW 2000
VIA: www.asx.online.com
SUBJECT: INVESTOR PRESENTATION
We attach a presentation by the Company¡¯s Managing Director and CEO, Mr G.V. (Joe)
Ariti, to be given at meetings this week in Brisbane, Sydney, Melbourne and Alice Springs.
Yours faithfully
Michael Boud
COMPANY SECRETARY
Investor Update ¨C Nov 04 1
GV Ariti MD & CEO
Investor Presentation
November 2004
Investor Update ¨C Nov 04 2
Company snapshot
Principal Assets High-grade Chariot Gold Project
Landholding in proven high-grade field
Our employees and stakeholders
Focus Tennant Creek Goldfield
Issued Capital 859 M shares & 40 M unlisted options
Share Price 7.5 cents
Market Cap $64 M
Goal Growth by building on regional strengths
& opportunities.
+100k oz pa & extend project life
Investor Update ¨C Nov 04 3
Board & Management
Senior Management Board
Robert Rae Chairman
Joe Ariti MD
Bill Duchatel Director
Geoff Hudson Director
Jeff Gresham Director
Kim Bischoff Exploration
Rob Gregory Operations
Julian
Tambyrajah CFO
Mike Boud Secretary &
Counsel
Investor Update ¨C Nov 04 4
Focus & Landholding
Investor Update ¨C Nov 04 5
Company making field
Gold first mined in
the 1930¡¯s.
Produced in excess
of;
5.5 M oz of
gold; and
400,000 t of
copper.
Characterised by
high-grade,
¡°company making¡±
deposits.
Investor Update ¨C Nov 04 6
Company objective
¡°Growth by building on regional
strengths and opportunities¡±
Strategies
1. Expand production to +100,000 oz
pa; and
2. Extend project life.
Investor Update ¨C Nov 04 7
Delivery ¨C how?
Extend project life +100k oz pa
Reserve extensions ¨C
Chariot & Malbec West;
Unlocking gold associated
with copper
mineralisation;
Systematic exploration in
Chariot & Eldorado -
Comstock corridors; and
Open additional
exploration fronts ¨C
Northern & Eastern
project areas.
Higher productivity long
hole stoping at Chariot;
Develop Malbec West - in
production October 04;
Small Mines development
¨C Edna Beryl, Cat¡¯s
Whiskers & many others;
and
Oxide gold exploration
focus ¨C rapid open pit
development.
Investor Update ¨C Nov 04 8
Project locations
Investor Update ¨C Nov 04 9
Chariot ¨C September Qtr
Decline advanced to 8
Level ¨C 190 m below
surface.
Cut & Fill stoping
commenced on 4 Level.
Long-hole stope (7
Level East)
commissioned in late
July.
7 Level LHS
commissioned
smoothly.
Definition drilling
completed to the 12
Level.
Investor Update ¨C Nov 04 10
Chariot ¨C Sept Qtr cont.
Mix of cut & fill and
LHS ore milled during
the quarter.
Gold production of
18,954 oz.
Cash cost of $277 per oz.
Cash cost reduced in
accordance with higher
gold production.
Modest increase in
production forecast for
the December quarter ¨C
at comparable cash cost.
Investor Update ¨C Nov 04 11
Production Vs Cash Cost
11,975
7,802
11,237
18,954
5,000
8,000
11,000
14,000
17,000
20,000
Dec-03 Mar-04 Jun-04 Sep-04
Quarter
Oz produced
$200
$280
$360
$440
$520
$600
Cash cost, $/oz
Oz produced Cash cost
Investor Update ¨C Nov 04 12
Chariot mine plan optimised
Enhanced geological understanding - 8,800 m
of underground drilling and detailed
geological mapping of cross-cuts and ore
drives;
Low margin, often narrow ore deliberately
excluded from the mine plan;
Focus on extraction of the high-grade shoots;
Mine development capital reduced by ¡Ö $5M;
Improved financial outcome ¨C increasing the
value of Chariot.
Investor Update ¨C Nov 04 13
Malbec West ¨C 900m from Chariot
Investor Update ¨C Nov 04 14
Malbec West ¨C in production
Shallow, high-grade.
High-margin, circa $4 m
FCF.
Reserve ¨C 31kt @ 17.2 g/t
Au containing 17,200 oz.
Pit design to 60 metres ¨C
open below 100 m.
Mining commenced in
mid-September.
First ore (low-grade)
milled in early October.
Mining completed in
December Qtr.
Investor Update ¨C Nov 04 15
Cat¡¯s Whiskers ¨C now operating
Portfolio of undeveloped,
small, high-grade gold
prospects.
Up-to 4 per annum
planned adding 20k oz to
the production profile.
Cat¡¯s Whiskers;
mining commenced in
early September;
9kt @ 21 g/t containing
6,100oz;
first ore scheduled for
mid-November.
Investor Update ¨C Nov 04 16
Warrego mill ¨C surplus capacity
Metallurgical recovery
consistently 98% or better.
Gravity recovery of gold
averages 55%.
Currently operating at
150 to 180k tpa
throughput.
Nominal throughput
circa. 300 to 330k tpa ¨C
surplus capacity
available.
Only plant operating in
the field.
Investor Update ¨C Nov 04 17
Gold/Copper ¨C study concluding
Gold/copper mineralisation within Company
landholding - no copper flotation/treatment
circuit at Warrego;
Study concluding into the economics of treating
gold/copper ore;
Capital cost of $8 million to add copper
float/treatment circuit;
Utilise 100kt pa surplus treatment capacity at
Warrego to potentially add circa. 30k AuEqoz pa.
Investor Update ¨C Nov 04 18
Orlando ¨C short lead time
Potential open-pit cut
back at Orlando;
NTC reported
resource of circa. 300k
t at 6 g/t Au and 1.4%
Cu (¡Ö 9 g/t AuEq);
Company finalising a
resource estimate as
part of the study;
Adjacent to bitumen
haul road, 20 km east
of Warrego;
Initial findings due for
reporting in early
December.
Investor Update ¨C Nov 04 19
Copper circuit - flotation
Investor Update ¨C Nov 04 20
Extensions - immediate upside
Investor Update ¨C Nov 04 21
Exploration model
Previous exploration
focused on testing
deep (>100m)
magnetic targets;
Chariot and Malbec
West hosted in nonmagnetic
ironstone;
Exploration model
based on identifying
non-magnetic
ironstones using
gravity technology.
Investor Update ¨C Nov 04 22
CMC & ECMC locations
Investor Update ¨C Nov 04 23
CMC & ECMC ¨C initial focus
Quality targets being assessed;
Malbec North;
Malbec proper;
West Gibbet;
New Hope;
7300W.
Gravity & RAB programs completed in the
September quarter;
RAB/RC follow-up in the December
quarter.
Investor Update ¨C Nov 04 24
Chariot ¨CMalbec line
Investor Update ¨C Nov 04 25
Oxide Gold - underway
Define & rapidly develop oxide (shallow,
open pitable) gold deposits.
Short development lead time, additional ore &
potentially high cash flow contribution.
>10 potential oxide targets have now been
defined ¨C not exhaustive.
Advanced opportunities;
Golden Slipper North;
Explorer 80; and
The Extension.
Investor Update ¨C Nov 04 26
Oxide Gold ¨C short lead time
Investor Update ¨C Nov 04 27
Projects ¡°pipeline¡±
Investor Update ¨C Nov 04 28
Clawback ¨C Juno & Nobles Nob
In June 2001, GTM acquired all the assets of
NTC.
Included in the package was equity clawback
rights and royalty entitlements over Nobles
Nob & Juno.
Strata Mining has publicly announced it has
reached agreement to acquire a 50% interest in
these tenements, with an aim to rapidly
developing Juno.
GTM will be carefully monitoring these
developments.
Investor Update ¨C Nov 04 29
Conclusion
Control of a major, high-grade Australian Goldfield;
Majority landholding; and
Only operating treatment plant.
Producer with high-margin, cash flow and excellent
exploration leverage;
Gold production of 18,954 oz in Sept. Qtr; and
Cash cost of A$277 per ounce.
Expanding production to 100k oz pa and beyond;
Gold/copper study due for reporting in early
December.
Exploration model not previously applied to the field;
Early success with the discovery of Malbec West.
Extensive projects ¡°pipeline¡±
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