WPG Resources Ltd Presentation to Precious Metals Symposium November 2017
Disclaimer Note 1: The information pertaining to the Challenger gold project ore reserve estimate was detailed in the market announcement entitled “Challenger 30 June 2017 Mineral Resource and Ore Reserve estimate” released on 29 September 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed except to the extent of production. The information pertaining to the Challenger gold project mineral resource estimate was detailed in the market announcement entitled “Challenger 30 June 2017 Mineral Resource and Ore Reserve estimate” released on 29 September 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed . The information pertaining to the Challenger gold project exploration activities and results were detailed in the market announcement entitled “September 2017 Quarterly Activities Report” released on 20 October 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement. Note 2: The information pertaining to the Tarcoola gold project ore reserve estimate was detailed in the market announcement entitled “Tarcoola 30 June 2017 Mineral Resource and Ore Reserve estimate” released on 21 September 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed except to the extent of production. The information pertaining to the Tarcoola gold project mineral resource estimate was detailed in the market announcement entitled “Tarcoola 30 June 2017 Mineral Resource and Ore Reserve estimate” released on 21 September 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The information pertaining to the Tarcoola gold project exploration activities and results were detailed in the market announcement entitled “September 2017 Quarterly Activities Report” released on 20 October 2017 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement. The information pertaining to the Tunkillia gold project mineral resource estimate was detailed in the market announcement entitled “Tunkillia resource estimate enhanced at higher cut-off grade” released on 4 Note 3: February 2015 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The latest information pertaining to the Tunkillia gold project exploration activities and results were detailed in the market announcement entitled “Encouraging gold assays received from Tunkillia drilling” released on 4 May 2016 and is available to view on www.wpgresources.com.au. WPG confirms that it is not aware of any new information or data that materially affects the information included in that announcement. The Production Profile is a Production Target for the operating Challenger and Tarcoola gold mines and is underpinned by a combination of ore reserves and measured and indicated mineral resources. Note 4: The target is based on current Proved Ore Reserves (8.82%), Probable Ore Reserves (36.65%), Measured Mineral Resources (8.25%) and Indicated Mineral Resources (46.28%). The Indicated Mineral Resources are not the determining factor in project viability due to the historical conversion of resource to reserve over the life of the Challenger mine. The production target does not contain any inferred resources or exploration targets. None of the production target is based on qualifying foreign estimates. The Ore Reserve and Mineral Resource Estimates were prepared by the Competent Persons listed in the reports referred to above. The All-In-Sustaining-Cost is based on this production target and mine plan. Note 5: This document may include forward-looking statements. Forward-looking statements include, but are not limited to statements concerning WPG’s planned mining and exploration programs and other statements that are not historical facts. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward-looking statements. In addition, summaries of Exploration Results and estimates of Mineral Resources and Ore Reserves could also be forward looking statements. Although WPG believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. WPG cannot guarantee the accuracy and/or completeness of the figures or data in this presentation All dollar amounts indicated in this presentation are in Australian dollars 2 North America Roadshow Presentation – May 2017
Corporate Overview (ASX:WPG) Executing mine strategy to rebuild value Capital Structure Trading History Share price (25 October 2017) A$0.02 0.12 25 Trading Volume Share Price 0.10 Issued shares 905.9m 20 Volume Millions 0.08 Share Price (A$) Unlisted options $0.11 exercise price, expire 30 Sep 18 37.5m 15 0.06 Unlisted options $0.08 exercise price, expire 30 Jun 19 79.2m 10 0.04 Fully Diluted Market Capitalisation A$20.5m 5 0.02 0.00 - May-… May-… Board Structure Jan-16 Feb-16 Mar-16 Apr-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Bob Duffin Executive Chairman Helen Wiseman Lead Independent Director Substantial Shareholders Cornel Parshotam Technical Director & COO Bob Duffin 6.9% Lim See Yong Non-Executive Director L&M Group Limited 5.8% Gary Jones Non-Executive Director Jalinsons Pty Ltd 5.8% 3 North America Roadshow Presentation – May 2017
South Australian Gold Portfolio Suite of assets central to wholly-owned Challenger processing plant Challenger (100%) Tarcoola (100%) Resource of 364Koz Resource of 87.6Koz Reserve of 96.7Koz Reserve of 54.3koz announced Sep 2017 announced Sep 2017 Milling Challenger and Ore haulage to Challenger Tarcoola ore commenced in January 2017 Group AISC expected to fall to Excellent recovery at A$1,200/oz by Q4 FY18 Challenger mill Group guidance 70koz to 80 Push-back completed with koz FY18 LOM strip ratio now 1.8:1 Tunkillia (100%) WGCJV (~26%) Pre-development asset with TYX announced total inferred JORC resource resource estimates of 219Koz Au (24 Jan 17) DFS to be completed Excellent intercept on recent Numerous gold anomalies yet Greenwoods drilling to be tested Undrilled highly prospective Challenger mill only viable Yerda and Yarlbrinda shear processing option 4 North America Roadshow Presentation – May 2017
Share Price Performance Challenger mine underperformance and funding concerns has impacted share price. Share price driven by fear. 0.12 $1,900 Share Price Gold price New jumbo $1,850 deployed by Pybar 0.10 to make up $1,800 Phase 1 Challenger Deeps development exploration results $1,750 shortfall announced 0.08 $1,700 Share Price (A$) $1,650 0.06 $1,600 $1,550 0.04 Challenger reduced to one $1,500 Pybar dispute initiated and production stope Pybar affiliate sold 26m Institutional investor sold 35m $1,450 0.02 shares. Operations loss shares, share price fell below announced offer price $1,400 0.00 $1,350 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 5 North America Roadshow Presentation – May 2017
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