1 / 15

Disclaimer

darena
Télécharger la présentation

Disclaimer

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. This document comprises an institutional presentation (the “Presentation”) which has been prepared by and is the sole responsibility of Amara Mining plc (“the Company”). The content of this Presentation has not been approved by an authorised person within the meaning of section 21 of the Financial Services and Markets Act 2000 ("FSMA"). Reliance on this Presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. Peter Brown is a “Qualified Person” within the definition of National Instrument 43-101 and has reviewed and approved the information contained within this Presentation. Mr Brown (MIMMM) is the Group Exploration Manager for the Company. This Presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever or constitute an invitation or inducement to engage in investment activity under section 21 of the FSMA. Notwithstanding the above, in the United Kingdom, this Presentation is only being given to persons reasonably believed by the Company to be investment professionals within the meaning of paragraph (5) of Article 19 or to high net worth companies or unincorporated associations within the meaning of paragraph (2) of Article 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529), and a proposed offer will only be available to such persons who are also qualified investors within the meaning of section 86(7) of the FSMA purchasing as principal or in circumstances under section 86(2) of the FSMA. This Presentation is only being sent to persons reasonably believed by the Company to be investment professionals or to persons to whom it may otherwise be lawful to distribute it. If you are not such a person (i) you should not have received this Presentation and (ii) please return this Presentation to the Company's registered office as soon as possible and take no other action. By accepting this Presentation the recipient represents and warrants that it is a person who falls within the above description of persons entitled to receive this Presentation. This Presentation is not intended to be distributed, or passed on, directly or indirectly, to any other class of person and in any event under no circumstances should persons of any other description rely or act upon the contents of this Presentation. This Presentation and its contents are confidential and must not be distributed or passed on, directly or indirectly, to any other person. This Presentation is being supplied to you solely for your information and may not be reproduced, further distributed or published in whole or in part by any other person. No representation or warranty, express or implied, is made or given by or on behalf of the Company, its advisers or any of their respective parent or subsidiary undertakings or the subsidiary undertakings of any such parent undertakings or any of the directors, officers or employees of any such person as to the accuracy, completeness or fairness of the information or opinions contained in this Presentation and no responsibility or liability is accepted by any person for such information or opinions. No person has been authorised to give any information or make any representations other than those contained in this Presentation and, if given and/or made, such information or representations must not be relied upon as having been so authorised. The contents of this Presentation are not to be construed as legal, financial or tax advice. The information has not been verified nor independently verified by the Company’s advisers. In Canada this presentation is only to be distributed to persons or companies reasonably believed to be "accredited investors" within the meaning of NI 45-106. Disclaimer Neither this Presentation nor any copy of it may be taken or transmitted into the United States of America or its territories or possessions (the “United States”), or distributed, directly or indirectly, in the United States, or to any U.S Person (as defined in Regulation S under the Securities Act 1933 as amended), including U.S resident corporations or other entities organised under the laws of the United States or any state thereof or non-U.S branches or agencies of such corporations or entities, except as permitted under the Securities Act 1933 or to any U.S. Person to whom this Presentation may be lawfully distributed in reliance on an exemption from registration that is available under the Securities Act 1933 and by persons authorized to do so, or into Australia, Japan, South Africa or the Republic of Ireland. Neither this Presentation nor any copy of it may be taken or transmitted into or distributed in Australia, Japan, South Africa or the Republic of Ireland, or any other jurisdiction which prohibits the same except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of United States or other national securities law. The Company's ordinary shares have not been registered under the Securities Act 1933. The Company has not been, and will not be, registered under the United States Investment Company Act of 1940, as amended, and investors will not be entitled to the benefits of that Act. Forward-Looking Statements: Information contained in this Presentation may include 'forward-looking statements'. All statements other than statements of historical facts included herein, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including exploration and development plans and acquisition opportunities) are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors which could cause the actual results, performance or achievements of the Company or the markets and economies in which the Company operates to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ from current expectations include, among other things, political, regulatory and economic risks and other risks involved in the mineral exploration industry. The Company believes that the assumptions inherent in the forward-looking statements are reasonable; however, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this Presentation to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based, save as required by relevant law or regulatory authority. Any mineral resource figures referred to in this Presentation are estimates and no assurances can be given that the indicated levels of minerals will be produced. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. By their nature, mineral resource estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such mineral resource estimates are inaccurate or are reduced in the future, this could have a material adverse impact on the Company. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an Inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

  2. Amara: Transitioning Into A Mid-Tier Producer • AIM and TSX-listed gold producer focused on West Africa • Portfolio of assets with strong growth pipeline • Kalsaka/Sega, a producing mine in Burkina Faso • Baomahun, a feasibility stage project in Sierra Leone • Yaoure, an exploration project in Côte d’Ivoire • Mamoudouya, an early stage exploration project in Mali • Robust balance sheet - cash and liquid assets of US$28.8 million as at 30 June 2012 • On track to achieve 2012 production guidance of 60-70,000 ounces • Focused on expansion, while minimising dilution for shareholders • Experienced management team with complimentary skillset Mamoudouya Yaoure Kalsaka/Sega Mamoudouya Kalsaka/Sega Yaoure Baomahun Group Resources* M&I: 3.3Moz Indicated: 2.52Moz Inferred: 1.09Moz *Resources are shown as inclusive of reserves. A comprehensive breakdown of mineral resources and mineral reserves by property, including with respect to tonnage and grade, is included on slide 22

  3. What Is Gold? • “Dense, soft, shiny, malleable and ductile metal” • Long term store of value – safe haven for investors in volatile markets • Used in industry e.g. electronics

  4. What Drives The Gold Price?

  5. West Africa: The Right Address For Finding Gold Kalsaka/Sega Baomahun Yaoure

  6. Yaoure Gold Project, Côte d’Ivoire • Yaoure example of what to look for in a gold project • Significant intercepts demonstrate good mineralisation • 10m at 7.2g/t • 20m at 3.6g/t • 22m at 2.5g/t • Prime location to develop a CIL/CIP operation as: • Good existing infrastructure • Cheap hydro-electric power from 150 MW power station 5km from deposit • Existing mining permit • Focused on delineating initial inferred resource by late 2012 • Lower hurdle rate for development due to infrastructure benefits Yaoure Yamoussoukro Abidjan

  7. Amara’s Recent Financial History Historic Cash Position EBITDA vs Exploration Expenditure • Strengthened balance sheet • Near term exploration is well funded – exploration is key to growth • Focused on minimising dilution to shareholders

  8. Minimising Development Risk Mine Development Value Curve • Operating cashflow minimises development risk • Portfolio approach provides flexibility in terms of funding and the story told to the market Source: LK Consult

  9. The Global Financial Backdrop USA Balance of Trade – January 2000 to January 2012 USA Fiscal Deficit – January 2000 to January 2012 Source: www.davidmanuel.com • Worldwide economic picture driven by imbalances • Gold price is likely to continue to increase but so will costs • Hedging does not make sense in this environment – erodes margins

  10. Financing Options

  11. Samsung Partnership: Innovative Financing • MOU signed with Samsung C&T Corporation on 12 September 2012 for long-term strategic partnership • Provides a general framework for potential long term funding of Baomahun and other development opportunities • Initial US$20m facility with an initial term of 22 months, with coupon satisfied by: • Interest payments of 2.5% + US LIBOR • Delivery of 1,929oz of fine gold per month at 2.25% discount to spot gold price • Total cost of facility: 10% per annum • No hedging required • Unlocks the ability for larger financing and other strategic opportunities

  12. Baomahun Gold Project, Sierra Leone • Feasibility stage gold project in central Sierra Leone • Two outstanding elements to feasibility study: • Open pit mine scheduling • Resource update • Opportunity for low cost power from HEP within 40km of site to de-couple project from long term oil price • Fiscal stability agreement negotiations with Sierra Leone Government continuing • Significant upside potential outside of resource area – Pujehun South and Makong South • Exploration camp and road upgrade work largely complete – US$4.4m spent in H1 2012, remaining US$0.7m to be spent in H2 2012 Makeni Freetown Baomahun

  13. Conclusion: Well Positioned To Find And Fund Gold • Exploration remains high risk • Funding the development of gold projects has become more difficult in current economic conditions • However… Funding will be available for the right projects Self-generated cash flow is best form of exploration funding Financing strategies without hedging are preferred option Portfolio approach minimises risk

  14. Amara Mining plc Contact Us Pete Gardner, Finance Director Katharine Sutton, Head of Investor Relations +44 (0)20 7398 1420 katharine.sutton@amaramining.com

More Related