Metals X Limited Presentation Addressing Current Precious Metals and Base Metals Projects
26.05.2014 | ABN Newswire
Perth, Australia (ABN Newswire) - Metals X Ltd. (ASX:MLX) (OTCMKTS:MTXXY) 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.
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Mar 2014 Qtr Dec 2013 Qtr
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Gold Produced 45,141 oz 42,442 oz
Total Cost of Sales A$979/oz A$903/oz
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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.
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Mar 2014 Qtr Dec 2013 Qtr
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Gold Produced 3,208 oz 8,844 oz
Total Cost of Sales A$702/oz A$818/oz
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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 Ltd. - 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 Ltd. is a diversified explorer and developer of minerals and metals. It owns a royalty portfolio generating revenue from sales of nickel at third party operations. The Company's activities span brownfield exploration and production from its development and mining projects.
Metals X performs greenfields exploration in its own right and through investment in other exploration companies. During the fiscal year ended June 30, 2008, its principal activities exploration for and the mining, treatment and marketing of tin concentrate in Australia; exploration for nickel in Australia; exploration for phosphate in Australia; development of nickel projects; development and construction of tin mine projects; the ownership of nickel mining royalty rights, and exploration for precious and base metals through significant shareholdings in Westgold Resources Ltd. (Westgold) and Aragon Resources Ltd. (Aragon). On July 30, 2007, the Company acquired a 12.8% interest in Aragon.
Contact:
Metals X Ltd.
T: +61-8-9220-5700
F: +61-8-9220-5757
www.metalsx.com.au