Dan gave a very confident, professional presentation....

Dan gave a very confident, professional presentation. Emphasising on the values of the company, the vision being growth returns for investors and backed by a very strong Board of Directors, including some big heavy weights within the industry.

The presentation was as detailed in the previous Investor Presentation at the Macquarie Australia Conference, detailing Life Of Mine (LOM) for all sites.

The Dargues acquisition was seen as a positive addition to the current asset portfolio. During the Boards investigations into possible acquisitions, Dargues came up as No.1. It was new and in its first year of production and is now being brought up to speed month on month. Last month (April) the Dargues Mill processed above its capacity (the outcome of this production will obviously flow through in the next quarter results for the group).

All mines within Aurelia will be run flat out to stand still, sweating the assets, running them hard as per investor pressure with investment in the drill bit for further growth.

The exploration upside at present is Federation which has recorded the second highest grade in the country and the market has not woken up to this find. It is the most significant find in the Great Cobar Region. The lack of drilling in the area has been acknowledged.

M&A will always be Aurelia’s portfolio approach making decisions beyond the average investor’s tenure as a holder. They will not move forward on an acquisition until the fundamentals are right, Safety, People and then move to improve.

Aurelia has just reached their 2 year goal for safety in the first 10 months, this being paramount in operations across the group.

The Cost of Carbon is discussed by the Board and what they are doing to deal with it. Progress has been agile.

Acquisitions will have a licence to operate and they will look at attracting offshore investment having a track record of exploration and acquisitions.

The market is not seeing Aurelia’s cost performance.

Although the Peak mine is 26, 37 years old, it continues improvement year on year 22% to 25%.

Hera produced a record output and is a complex operation.

All of the assets are in a great position to meet guidance.

Great Cobar Complex - Copper is 2 years away, moving to a feasibility study shortly. This is a valuable ore body.

Aurelias growth strategy is twofold, ongoing exploration to increase LOM, new discoveries and M&A.

The company is directed at returns for investors. Their cost structure is in the lowest quota. They are in the top 6 producers due to their hedging. By hedging they are now positive $110 an ounce over 55K ounces.

Q.

If you have a mine with 5 year life, why don’t you mine with half the staff and make 10 years?

A.

It’s the cost structure. Constant tension to reduce cost structure with more throughput.

Q.

Good KPI’s but reserves is the biggest drag?

A.

Daily discussions on the next discovery. The last 2 years exploration expenditure has tripled. Dan couldn’t divulge where the next investment is going to be but it is ‘on the cards’! Since taking over Dargues they have committed $4M to the drill bit to extend the LOM.

Q.

Is the carbon footprint on processing?

A.

Yes but we are in a far better position than others.

Q.

Who are the major shareholders?

A.

Paribas, First Sentier, Renaissance, Van Eck

Well folks, as you can understand it is not always possible to write and capture everything being discussed whilst trying to take in the contents but I think the above is a pretty good overview of the night.

My overall view is that Dan and his selected Team are doing a great job and I have no doubts that strong positive results are forthcoming especially once the market wakes up to this companies progress and assets.

Dan confirmed to me that there is a huge backlog of reporting from exploration drilling as I noted some of my other stocks are also waiting on results… hopefully positive ones!

GLTAH

Regards,

Peakabooau