Gold Fields Australia Site Visit: Darlot Gold Mine ANDREW BYWATER ANDREW BYWATER General Manager 14 th July 2014
Forward looking statements Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward looking statements in this document include among others those relating to the Damang Exploration Target Statement; the Far p g g g g p g Southeast Exploration Target Statement; commodity prices; demand for gold and other metals and minerals; interest rate expectations; exploration and production costs; levels of expected production; Gold Fields’ growth pipeline; levels and expected benefits of current and planned capital expenditures; future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and savings to be achieved. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa Ghana Australia Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly taxation and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; the availability and cost of raw and finished materials; the cost of energy and water; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS and other occupational health risks experienced by Gold Fields’ employees. These forward looking statements speak only as of the date of this document. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 2
Darlot Gold Mine Location and Background Location and Background ● Located in Eastern Goldfields Province of the Archaean aged Yilgarn Craton g g ● 900km North east of Perth ● 350km North of Kalgoorlie ● Full mining and processing facilities ● All in central proximity ● Currently proving up 2015 ore sources while exploring for C tl i 2015 hil l i f the game changer ● ~10,000 ha of exploration tenements on prospective ground ● Extensive shallow RAB/RC drilling throughout area ● Only 95 from over 11,000 regional drill holes exceed 100m in depth dep Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 3
Darlot Gold Mine History History ● Gold first discovered in the Lake Darlot region in 1894 ● Over 500,000 ozs estimated alluvial production. ● Darlot pit resource delineated 1986-1988, mining commenced in 1988 and was completed in 1995 ● 1996 the Centenary orebody was discovered, mining commenced 1998 ● Between 1989 and 2013 ● Between 1989 and 2013, ~2.5 Moz produced. 2 5 Moz produced GFA Analyst Tour | Andrew Bywater | July 2014 4
Darlot Gold Mine Replacement Of Reserves Replacement Of Reserves Darlot Reserves and Production M Ozs 2.50 2.00 1.50 1.00 0.50 0.00 1988-2002 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014* 2014 Reserve MY est Reserves Production Cumm Production Typical Regenerative Orogenic Geology GFA Analyst Tour | Andrew Bywater | July 2014 5
Darlot Gold Mine Tenement Map Tenement Map 5km Gold Fields 100% Darlot South JV ‘A’ Darlot South JV ‘B’ Darlot South JV Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 6
Darlot Gold Mine Experienced Professionals driving the Turnaround Program Experienced Professionals driving the Turnaround Program General Manager - Andrew Bywater Mining - Paul Miskell Mineral Resources - Pascal Blampain p Processing -Tristan Freemantle Maintenance - Tim Gordon Safety Safety - Lance Deighton Lance Deighton Human Resources - Billie Jo King Commercial - Joanne Hall Environmental - Steve Petty Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 7
Darlot Gold Mine Operations Management Team Operations Management Team ● General Manager – Andrew Bywater ● BSc Hons Geology, Masters in Mineral Economics ● Extensive experience in management, operations, geology, technical and project roles ● 20 years mining experience with 2.5 years at Darlot y g p y ● Mining Manager – Paul Miskell ● Extensive experience in operations, management and projects ● Diploma of Business Management, Graduate Certificate of Risk Management, Graduate Certificate of Occupational Health & Safety ● 30 years mining experience with 5 years at Darlot Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 8
Darlot Gold Mine Operations Management Team Operations Management Team ● Maintenance Manager – Tim Gordon ● Certificate III Electrical Mechanic, Certificate III Instrumentation and Certificate III Instrumentation and ● Processing Manager – Tristan Freemantle Processing Manager Tristan Freemantle Process Control ● Masters in Business Administration ● Extensive experience in management, ● Extensive experience in processing plant technical project management and technical, project management and management, commissioning and engineering roles optimisation ● 14 years mining experience with 5 ● 12 years experience in mining with 3 years at Darlot years at Darlot years at Darlot ● Mineral Resources Manager – Pascal Bl Blampain i ● BSc Geology ● Extensive experience in geology of gold, base metals and mineral sands ● 7 months at Darlot Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 9
WHAT DID WE BUY? Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine Facilities Layout Facilities Layout Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 11
Darlot Gold Mine Darlot/Centeneray Underground Darlot/Centeneray Underground Mineral Resources : Current Development • 1.61 Mt @ 5.24 g/t for 0.27 Moz Darlot Mineral Reserves: • 1.0 Mt @ 5.07 g/t for 0.16 Moz Metzke Hurst Fillbandit Trinidad Pedersen Thomson Bulk Stopes Boon North Boon West Border Walters Lords South N N 0 1000 500 Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 12
Darlot Gold Mine Infrastructure Infrastructure ● Camp - 400 rooms with recreational facilities ● Airstrip – CASA certified, 1980m gravel airstrip refueling facility, capacity for jets ● Water Sources - Bore Fields ● Power Station –LNG, with Diesel backup system ● Paste Plant ● Mine has 2 main declines ● Approval for additional tailings dam Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 13
Darlot Gold Mine Infrastructure: Mining Infrastructure: Mining ● Underground mine with ore transported by haul trucks to the treatment plant via two declines ● Conventional and narrow longhole stoping ● Conventional and narrow longhole stoping ● Paste filling is used in the majority of stopes ● The owner operator /maintained fleet comprises of mainly Sandvik drills, loaders and trucks Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 14
Darlot Gold Mine Underground Fleet Underground Fleet ● Drill fleet in good condition and good mix of ages ● Latest model Sandvik 60t truck is a trial unit L t t d l S d ik 60t t k i t i l it of latest Sandvik model. Now at 4,500 hours ● Extended under hire arrangement due to success Machine Type Number Jumbos 2 (Sandvik DD421-60C) Longholes 2 (Sandvik DL420-15C and Solo 7) Remote Loaders 2 (Sandvik LH517 and Torro 1400) Manual Loaders Manual Loaders 1 (2011 Sandvik LH621) 1 (2011 Sandvik LH621) 50t Trucks 3 (2 Sandvik TH550, Torro 50) 60t Trucks 1 (Sandvik TH663) Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 15
Why did we buy? Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014
Darlot Gold Mine Our Due Diligence View Our Due Diligence View ● Can be cash breakeven or better ● Other opportunities that we saw included people, processing plant conditions, LOM extension potential ● Potential synergies with other sites ● Resource and Reserve Growth – increase exploration spend to find the game changer Potential To Be A Gold Fields Franchise Asset Gold Fields Australia Site Visit: Darlot Gold Mine | Andrew Bywater | July 2014 17
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