H IGH - G RADE E XPANDING C OPPER -G OLD P RODUCER C ANADA RAB TSXV RA N OVEMBER 2017 RMM AIM RM
F ORWARD L OOKING S TATEMENTS Caution Regarding Forward Looking Statements: Certain information included in this presentation, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute “forward-looking statements”. Such forward-looking statements include, without limitation, statements regarding copper and gold forecasts for fiscal 2017 (including the information provided in any tables relating to production and concentrate forecasts for fiscal 2017), the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made ingood faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate and gold, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward- looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable law. RMM’s qualified person, Mr. Larry Pilgrim, P . Geo., is responsible for verification and quality assurance of the exploration data and the analytical results set forth inthis presentation. RMM is in full compliance withall NI43-101 rules and regulations. 2
W HY O WN R AMBLER ? High Grade Copper Location Expanding Production Rising Copper Market Newfoundland, Canada Phase I Phase III* Phase II Stable, low-risk jurisdiction in historical mining district Throughput Fall Location Increase 2017 2,000 1250 650 mtpd mtpd mtpd Improving C1 Costs Long Mine Life Exploration Targeting Decrease in 20 Years Drill Program Currently C1 Costs** Underway ~16 M Pounds of Copper Annually *Note: Pending detailed engineering studies. 3 **C1=Net direct cash costs per pound of saleable copper net of by-product credits
T HE R IGHT T EAM M ANAGEMENT B OARD OF D IRECTORS Norman Williams , CPA, CA – President, CEO and Bradford Mills –Director, Chair Director +30 years in the resource industry. Founder and managing director +20 years of financial and management experience of Plinian. Currently Executive Chairman at Mandalay Resources. Former CFO of Rambler 2010-2014 Glenn Poulter –Lead Director Peter Mercer – VP and Corp. Secretary Executive MBA, Cass Business School, specializing in finance and strategy. +30 years of experience with financial services in the UK. Geologist with +15 years of exploration and development Mark Sander – Non-Executive Director experience Tim Sanford , P. Eng. – VP Technical Services PhD in Ore Deposits and Exploration and active in the mineral resource industry for +25 years. President and CEO at Mandalay +23 years of experience at various supervisory levels, primarily Resources. related to underground development and production Belinda Labatte – Non-Executive Director Scott Britton , P. Eng. – General Manager MBA from Rotman School of Management and CFA charterholder. +35 years experience in underground mining Chief Development Officer at Mandalay Resources. Tim Slater , ACA, CTA – Interim CFO Terrell Ackerman – Non-Executive Director MD of Harmer Slater Chartered Accountants in the United 40+ years in the resource industry. Former interim CEO at Stillwater Kingdom Mining. Eason Chen – Non-Executive Director Extensive knowledge and experience in Canadian and cross-border listings, corporate governance and internal controls. Proven Team with a Track Record of Mine Development and Operations 4
S TRONG C OPPER F UNDAMENTALS Copper Cash Official Comex ($/lb) $3.25 $3.00 $2.75 $2.50 $2.25 $2.00 $1.75 Expanding its Operation in a Rising Copper Market 5 5
S HARE S TRUCTURE Shareholders As of August 31, 2017 Ticker RMM RAB Institutional Shareholders Share Price (November 16, £ 0.081 $ 0.13 CAD CE Mining II 72% 2017) Lombard Odier 6% 52 Week Range (£0.08-£0.13) ($0.11-$0.22) CI Global Investments 5% Daily Volume 55,000 18,000 Tinma International 4% Market Cap. £ 44 M $ 71 M CAD UBS Asset Management 3% Shares Outstanding 549 M Float & Retail Network 10% Options 13 M Warrants (£ 0.05 June 2018) 65 M Cash $2 M Strong Institutional Shareholder Support Unless otherwise indicated all currency is USD 6
C OPPER -G OLD P RODUCTION Underground copper-gold mine § 100% Ownership § Phase I Commercial Production § started in 2012 Land Package 1640 Hectares § Nugget Pond Mill 195 Employees § 100% Ownership in Producing Copper-Gold Mine 7
M ING C OPPER -G OLD M INE Ramp Modified Sub-level Longhole Mining Historical Shaft Blasted Ore Lower Footwall Zone Drilled Stope Longhole Drilling Development Block 1 1800 lv Post Pillar Cut and Fill Mining Block 2 Block 3 Transverse Long-hole Mining Block 4 Mineral Reserve T Cu Au Cu Au Classification (‘000) (%) (g/t) M lbs K Oz Proven * 5,205 1.98 0.43 226.9 71.6 Block 5 Probable * 3,050 1.99 0.76 133.8 74.2 Total Reserve Block 6 8,667 1.79 0.48 341.2 133.5 (diluted, recovered) Note: Proven and Probable (undiluted and unrecovered) Phase II Expansion Focuses on the Addition of LFZ Ore into the Production Profile See Appendix for further detail 8 8
P HASE II E XPANSION N EAR C OMPLETE Targeting sustained production of 1,250 § mtpd in November 2017, currently averaging 1,246 mtpd Phase II near complete after 14 months § of mine optimization and development Multiple LFZ stopes now in production § Ventilation upgrade project in progress § High grade / lower cost ore from LFZ § stopes will result in lower copper cost per pound Addition of a paste plant (2018/19) § Expansion of existing tailings dams § (2019) Phase II Expansion Continues: Targeting 1,250 tpd Fall 2017 9
C URRENT P RODUCTION & C OSTS Pounds of Saleable Cu and C1 Cost 4 $3.50 Saleable CU, M lbs C1 $US Pounds of Saleable Cu in Millions 3.5 $3.00 3 $2.50 Phase II Development Underway 2.5 $2.00 C1 Cost 2 $1.50 1.5 $1.00 1 $0.50 0.5 0 $0.00 Q1/2017 Q2/2016 Q3/2016 Q4/2016 Stub 2017 Q1 2017 Q2 2017 Q3 2017 5 Month Period With the main LFZ stope production coming online mill feed grade is improving allowing § the cost per pound of production to reduce This will continue to drive C1 costs downward § The goal is to provide flexibility for the mine to operate in varying copper price § environments Phase II Expansion: Optimize and Improve Operating Efficiencies Stub 2017 : 5 month period from Aug . 1- Dec. 31, 2016 – transition to calendar year-end 10 *C1 –net direct cash cost per pound of saleable copper net of by-product credits
F INANCIAL KPI S @ 1,250 MTPD $25,000 $20,000 $15,000 000's per annum $10,000 $5,000 $0 $2.25 $2.65 $2.79 $3.00 $3.25 USD $Cu/lb EBITDA Net Operating Cash Free Cash Attractive Financial Profile at Varying Copper Prices * Data source NI43-101 July 2015 Technical Report with base case KPI’s represented at long-term Cu of $2.79/lb 11
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