A Compelling Development Opportunity
De-risked by Feasibility & Optimisation Studies
Feasibility Optimisation Economics (June 2018)
3.0Mtpa plant to produce ~100,000oz pa over an initial 8.5 year mine life
• Project revenue of A$1,408m, pre-tax operating surplus of A$556m
• AISC of A$1038/oz over LOM
• NPV(8) (pre tax) of A$243m, IRR 36.4%, ~2.5 year payback
Updated Open Pit Ore Reserve (May 2018)
Ore Reserve 27.5Mt @ 1.0 g/t Au for 892,000oz (Proved & Probable)
• Ore Reserve conversion rate 64% at A$1600/oz
• 25% increase in LOM gold production to 823koz
Revised Capital Expenditure Estimate
Total initial plant and infrastructure capex estimate of $A132m (incl contingency)
• 3.0Mtpa CIP processing plant and Infrastructure A$93.1M – Fixed price contract
• Other Infrastructure A$31.7M
• Indirect Costs A$7.2
Mining fleet equipment leasing of A$46.7m implemented over two Quarters at start of production (assumes owner/operator mining)
RRL Price at posting:
$3.86 Sentiment: Buy Disclosure: Held
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