Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine JASON - - PowerPoint PPT Presentation
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine JASON - - PowerPoint PPT Presentation
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine JASON SANDER JASON SANDER General Manager 14 th July 2014 Forward looking statements Certain statements in this document constitute forward looking statements within the meaning of
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.
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Location
- Located in the Eastern Goldfields Province of the
Location
- Map of site/tenement position
- Show pits, plants, shafts etc
Archaean aged Yilgarn Craton
- 1,020km NE by sealed road from Perth
- Size of tenements etc
- 380km north by sealed road from Kalgoorlie
- Full mining and processing facilities
- Fly in / Fly out from Perth – reside in Leinster
- 8 days on / 6days off roster
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Location Location
- Agnew Mill (EMU Mill) located 25 km SW of Leinster
- Waroonga underground mine located adjacent to the Agnew Mill
Waroonga underground mine located adjacent to the Agnew Mill
- New Holland underground mine located 2km NW of Agnew Mill
- 78,547ha granted tenements (Including Lawlers purchase of
2500m 5000m
~27,000ha)
- 100 mining leases
18 l ti li
Leinster
- 18 exploration licences
- 27 prospecting leases
- Tenements focused on the northern portion of the Norseman-
Agnew Mill
p Wiluna Greenstone Belt, ~35km north and south and ~25km SE
- f the Agnew Mill
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
History History
1894 Patrick Lawlers’ prospecting party finds gold 1896 Lawlers town site gazetted 1904 Waroonga Mine opened 1936 Agnew town site gazetted 1976 WMC purchases Waroonga Leases and Emu Mine p g 1984 Forsayth NL purchases Great Eastern Lease Modern open pit mining commences at Waroonga 1986 Modern open pit mining commenced at Lawlers 1986 Modern open pit mining commenced at Lawlers 1990 Genesis New Holland discovered 1992 Plutonic Resources purchase Forsayth NL 1998 Homestake acquires Plutonic Resources 2001 Gold Fields acquires Agnew from WMC Barrick merges with Homestake g 2002 Kim lode discovered 2012 FBH discovered 2013 Gold Fields purchases Lawlers from Barrick
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Agnew Produced 2.4 Moz Since Acquisition From WMC In 2001
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
2013 Gold Fields purchases Lawlers from Barrick
Agnew/Lawlers Gold Mine
Historical Production Historical Production
Agnew mined 28 2mt @ 5 0g/t Au for Agnew mined 28.2mt @ 5.0g/t Au for 4.4 Moz since commercial production commenced in 1987 to December 2013 Lawlers mined 17.1mt @ 4.1g/t Au for 2.3 Moz since commercial production commenced in 1985 to December 2013
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~7 Moz Produced To Date – 10 Moz Within Reach
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Historical Production Historical Production
Lode Tonnes Grade Ounces
Lawlers District: 1894 - 2013
Lode Kt g/t Moz Pre 1985 951 12.9 0.39 Agnew 28 158 5 0 4 56 Agnew 28,158 5.0 4.56 Lawlers 17,058 4.1 2.27 Total 46,167 4.9 7.23 Lode Tonnes Grade Ounces
Waroonga/New Holland: 1894 - 2013
Lode Kt g/t Moz Pre 1985 359 7.8 0.09 Waroonga 10 516 6 4 2 15 Waroonga 10,516 6.4 2.15 New Holland 9,413 5.3 1.62 Total 20,288 5.9 3.86
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Waroonga/New Holland production is around 3,000oz per hectare to date
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Replacement of Reserves Replacement of Reserves
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Typical Regenerative Orogenic Geology
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Replacement of Reserves Replacement of Reserves
1 4
Lawlers Reserves and Production
1.2 1.4 0.8 1.0 Ounces 0.4 0.6 Million 0.0 0.2
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Reserve Production Cumulative Production
Reserve @ 06/13
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Typical Regenerative Orogenic Geology
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Management Team Management Team
Jason Sander General Manager Dave Thornton Dayna Dankbaar Mike Mead Neil Lester Peter Johansen Amanda Swart Thornton Mining Manager Dayna Dankbaar HR Superintendent
Sustainable Development Superintendent
Engineering & Processing Manager Mineral Resources Manager Business Applications Superintendent
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Jason Sander – General Manager
- B Eng (Mining) (Hons)
- Commenced with Gold
Dave Thornton – Mining Manager
Fields in 2005. In Agnew GM role since Dec 2013.
- Prior work history with
Tritton Resources Ltd,
- B. Eng. (Mining Eng.)
- At Agnew since October 2013.
- Prior work history with Barrick at
their Darlot & Lawlers mine and , WMC/ Gold Fields – St Ives, HWE and Roche Bros at BHP Billiton Pilbara sites with MacMahon’s (Olympic Dam) and Harmony
Peter Johansen - Mineral Resources Manager
- B. Sc. (Hons)
- BSc (Hons) Grad Dip Bus
Neil Lester– Engineering & Processing Manager
( )
- 7.5 years at Agnew
- 25 years experience in
exploration and mining in Australia and PNG – Au,
- BSc (Hons), Grad Dip Bus
Admin, Grad Dip Extractive Metallurgy
- At Agnew since Nov 2013
- Prior to that with Barrick at their
, CU, Ni and Fe
- Previous roles with CRAE
(Pilbara and WA Goldfields) and Newmont (Jundee)
- Prior to that with Barrick at their
Lawlers, Kanowna and Paddington sites in the goldfields region of Western Australia
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MANAGEMENT TEAM
( )
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Amanda Swart – Business Applications Superintendent
Diploma of Accounting
Dayna Dankbaar – HR Superintendent
- Diploma of Accounting
- 8 months at Agnew
- Previously Commercial Manager
Leighton Contractors, Admin Supt Dominion Gold Ops prior roles
- B. Mngt. (HR)
- 3yrs 9mths at Agnew
- Prior work experience in Australia
with Harrier, Poyry Pty Ltd, Abi Dominion Gold Ops, prior roles with Vale Australia, Origin Energy, Mt Magnet Gold, Plutonic Resources, Deeson Heavylift. Group, Worley Parsons and Martens and Heads (New York).
Mike Mead – Sustainable Development Superintendent
- BSc (Environmental Science) /
- BSc. Marine Science
- 12 months at Agnew
- Prior experience with
p Consolidated Minerals Woodie Woodie Project, and DEC (WA)
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MANAGEMENT TEAM
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
What did we buy?
Agnew/Lawlers Gold Mine
Acquisition of Lawlers Gold Mine: What Did We Buy?
POSITIVES
- A strong strategic fit with Agnew and GFA
Acquisition of Lawlers Gold Mine: What Did We Buy?
CHALLENGES
- Embedding full value from consolidating the sites
- A strong strategic fit with Agnew and GFA
- A team of good and focussed operators
- A mature and well-functioning mine site
- Embedding full value from consolidating the sites
- Introducing Gold Fields operating franchise and DNA
- Exploration spend and lead time required to realise
- Significant potential for synergies:
̵ One mill exploration potential and add / replace quality reserves ̵ One camp ̵ Optimised site power ̵ Contract consolidation ̵ People rationalisation ̵ Increased overall site flexibility
- Significant resource extension and brownfields
exploration potential
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
A Great Acquisition With Significant Upside
Agnew/Lawlers Gold Mine
Resources & Reserves and Main Ore Bodies
G i O Pit
Resources & Reserves and Main Ore Bodies
200 Series New Holland Open Pit Genesis Open Pit Hidden Secret Open Pit Mineral Resource (@ A$1,570/oz): 19.2Mt @ 5.93g/t for 3.66Moz Mineral Reserve (@ A$1,370/oz): 4.2Mt @ 7.05g/t for 0.95Moz 500 Series Sheba
Waroonga Pit
600/700 Series
Waroonga Pit Main Kim FBH
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
FBH Edmunds
Agnew/Lawlers Gold Mine
Site and Infrastructure
Agnew (EMU) Processing Plant
- 600kW Jaw crusher
1 2Mtpa CIL
Site and Infrastructure
- 1.2Mtpa CIL
- Cyanide Code Compliant
- In-pit TSF (5km away)
Agnew Paste Plant
- Dry tails designed Aran plant commissioned in 2008
- Average production rate of 110m3/hr with a
Waroonga UG
maximum of 200m3/hr Waroonga Underground
- Single decline truck haulage from a portal in the Waroonga pit
- Ramp Gradient = 1:7
- Ramp Gradient = 1:7
- Decline and Truck Access Profile (5.2m wide x 5.8m high)
- Ore Drive Profile (5.0m wide x 5.0m high)
EMU Processing Facility
New Holland Underground
- Decline truck haulage from portals in the New Holland and Genesis
pits
- Ramp Gradient = 1:7
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
EMU Processing Facility
p
- Decline and Truck Access Profile (5.0m wide x 6.0m high)
- Ore Drive Profile (4.6m wide x 4.7m high)
Agnew/Lawlers Gold Mine
Other Site Infrastructure Other Site Infrastructure
Leinster airport
Leinster
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Why did we buy Lawlers?
Agnew/Lawlers Gold Mine
Our Due Diligence View
- What did we see overall?
̵ Two side by side operations with different mining methods that can be streamlined into one multi-mine
- peration
Our Due Diligence View
- peration
- Can meet GFI key metric of 15% FCF margin at a gold price of US$1,300/oz
̵ Closing down the Lawlers Processing Facility ̵ Reducing duplication ̵ Focusing on near mine potential
- Synergies
- Synergies
̵ Operating mine less than 5km away from the Agnew Processing Facility ̵ Operate the Agnew Processing Facility at full capacity ̵ Well established skilled workforce C bi d kf i d i l fli h id ̵ Combined workforce in one camp and single flight provider ̵ Access to water
- Resource and reserve growth
g
- Regional exploration potential
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Potential To Be A Gold Fields Franchise Asset
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Our Due Diligence View Our Due Diligence View
New Holland Open Pit Genesis Open Pit New Holland Open Pit Hidden Secret Open Pit
Sheba
Potential for deeper lodes?? Potential extensions Current target areas Drilled to be developed 20
New Holland Under Explored - Gets Better!
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Potential extensions Current target areas Drilled, to be developed
Agnew/Lawlers Gold Mine
Our existing View of Agnew’s potential Our existing View of Agnew s potential
Kath Rajah Waroonga North Main North Main South Yeoman Waroonga North FBH Hauptspalt Kim Link Indicated Resource Inferred Resource Pre-resource early stage target
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High Grade Shoots Open at Depth – Potential Along Strike!
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Target Zones
What have we done since the acquisition?
Agnew/Lawlers Gold Mine
Strategic Focus: Delivering Results
- Synergies realised
̵ Lawlers Processing facility placed on care and maintenance at end of October 2013
Strategic Focus: Delivering Results
Lawlers Processing facility placed on care and maintenance at end of October 2013 ̵ Downsized the workforce and kept the highest performers ̵ Lawlers Camp placed on care and maintenance and employees now in Leinster
- Historically high grade and strong margin producer
̵ Transitioning to deeper mining and changing mining conditions St t i l t i t i t t d i ̵ Strategy in place to maintain tonnage rate and margin
- Controlling the Cost Profile at Depth
̵ Reviewing underground mining cost basis at Waroonga Underground g g g g g
- Reserve Growth
̵ Targeting near surface opportunities in close proximity to the Waroonga / New Holland Complex
- Optimisation of the synergies from integration of Agnew with Lawlers
̵ Two discreet mines provides greater optionality Full Mill Capacity with additional gravity circuit upside with low capital expense
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̵ Full Mill Capacity with additional gravity circuit upside with low capital expense
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Synergies from acquisition (in place and planned)
Synergy Overall Impact
Synergies from acquisition (in-place and planned) Utilization of equipment between mines – truck, loader, production drilling Cost savings, reduced capital spend Closure of Lawlers Mill Significant cost saving - $7.8Mpa (processing cost alone before electricity increase) Potential to increase further A i d iti l t Acquired critical water resource Establish a fit for purpose workforce Amalgamation of skilled workforce Review of organisational structure resulted in 64 redundancies redundancies Review and consolidation of supply contracts Cost savings due to increased bargaining power with suppliers of diesel, power, explosives, freight Consolidation of flights & accommodation Cost savings – terminated additional catering & charter flight contracts Morale - all personnel residing in the same camp and
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Morale all personnel residing in the same camp and FIFO via Leinster
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
New Holland: Leveraging Improved Production and AIC New Holland: Leveraging Improved Production and AIC
- Equipment rationalisation enabled significant Capex and Opex savings.
- Removed the Barrick corporate requirement for surface support all development headings. Along with efficiency
p q pp p g g y improvements enabled the decommissioning of a Jumbo drill rig
- Significant improvement in mine layouts and drive location to minimise internal dilution
M l ti i i th d t 15% f h fl i hi d ̵ More selective mining method to ensure 15% free cash flow margins are achieved
Low-Grade Halo
Genesis 500 Series
High-grade Core Ore Drive Ore Drive Ore Drive After Before
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Waroonga: Leveraging Improved Production and AISC Waroonga: Leveraging Improved Production and AISC
- Introduction of in-pit haulage at both New Holland and Waroonga
- Significant reduction in capital development per level in the Lower Kim South area
- Significant reduction in capital development per level in the Lower Kim South area
2013 Original Design Final July Design 2013 Original Design Final July Design Reduction in development achieved through optimisation of stope extraction sequence ̵ First stage improvement -> 148m of development
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
g p p ̵ Second stage improvement -> 62m of development Total of 210m reduction per level (~$1.3M savings)
Agnew/Lawlers Gold Mine
f Recent Performance
- Focus on free cash flow and growing the
margin
- No ounces for ounces sake, no marginal
mining
- Optimised contractor vs owner mining
- Site specific cost savings and business
process re-engineering
Gold Fields Control 27
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Key Metrics
Agnew/Lawlers Gold Mine
KPI’s Unit Q4 2013 Q1 2014 Safety LTI’s
Key Metrics
Ore mined - UG kt 267 266 Mined grade - UG g/t 7.32 6.91 Ore processed kt 349 294 Head grade g/t 6.52 6.35 Recovery % 91 5 94 6 Recovery % 91.5 94.6 Gold sold koz 73.6 59.2 Revenue US$m 94.5 76.1 Operating cost US$m 41.8 41.2 Operating Profit US$m 52.7 34.9 Capital expenditure US$m 19.5 20.9 AISC US$/oz. 929 1,025
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Processing
Agnew/Lawlers Gold Mine
Processing Plant Processing Plant
- Contract crushing -1.3 Mtpa tertiary crushing plant
- 2 stage ball milling circuit consists of closed primary ball mill (1.2
MW) and closed secondary ball mill (1.1 MW)
- Throughput 1.3 Mtpa
- Leach feed of p80 106 to 125 microns
- Gravity circuit of two 30” Knelson concentrators feeding an ILR.
Gravity recovery typically 50% to 70%
- Leach circuit consists of three 1,390 m3 leach tanks and six 490 m3
leach tanks. Residence time is 24 hours. T i l l t i 94% t 95%
- Typical plant recovery is 94% to 95%.
- Effort since amalgamation of operations is directed at maximising
mill throughput
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
mill throughput
Agnew/Lawlers Gold Mine
Milling Gravity Circuit and Gold Recovery Milling, Gravity Circuit and Gold Recovery
Nameplate Capacity: 1 20Mtpa Nameplate Capacity: 1.20Mtpa Ball mill 1 feed size (P80): 8mm Grind size (P80): 106 -125 m Ball mill 1 charge: (80mm balls) Ball mill 2 charge: (50mm balls)
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Tailings Storage Facility Tailings Storage Facility
- In-pit TSF3 commenced in 2004 in the old
Redeemer pit and underground Redeemer pit and underground
- Current capacity 4.5 Mt (as at June 2014)
- Currently investigating additional Life of Mine TSF
- ptions.
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Processing - Grade Processing Grade
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Processing - Recovery Processing Recovery
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Mining - Underground
Agnew/Lawlers Gold Mine
Waroonga Underground
Mineral Resources :
- 10.31Mt @ 6.20g/t for 2,055koz
Mi l R
Waroonga Underground
Mineral Reserves:
- 2.96Mt @ 7.47g/t for 712koz
Overview: ̵ One underground mine, accessed by one portal ̵ Main focus is the higher grade Kim orebody ̵ Utilise longhole open stoping combined with paste fill ̵ Vertical depth of 1,200m Vertical depth of 1,200m ̵ High stress conditions, utilise fibrecrete for ground support ̵ Barminco Contract for all underground mining ̵ Fleet of:
8T k (Atl C )
- 8Trucks (Atlas Copco)
- 4 Loaders (Caterpillar)
- 2 Jumbos (Sandvik)
- 2 Production Drills (Atlas Copco)
- 3 Charge rigs
- Two Spray rigs
- 3 Agi trucks for fibrecrete
Waroonga Pit
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Waroonga Underground
255,000
Waroonga Underground
- Decline accessed
- Full Contract Mining
- Longhole open stoping with paste fill
Waroonga Pit
6,900,000 6,900,000
- Steeply dipping discrete orebodies.
255,000
300m
Access Drives Vent Infrastructure
Historical Stopes Future Mining Areas Developed Areas
Link
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Longsection facing East
Agnew/Lawlers Gold Mine
Waroonga Underground Mining Methods –Stope Sequence - M Front transition
- Transition to the M Front commenced in Q1 with the southern side completed
Waroonga Underground
- Northern extent due to transition in Q3
50m 100m
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
New Holland Underground
Mineral Resources:
- 2.22Mt @ 8.78g/t for 627koz
New Holland Underground
Genesis Pit
Mineral Reserves:
- 1.18Mt @ 6.27g/t for 237koz
O i Overview: ̵ One underground mine, accessed by two portals which are in separate pits ̵ Main focus is the Genesis 500 series ̵ Utilise longhole open stoping combined with room and pillar
New Holland Pit
̵ Development intensive due to the flat nature of the orebody ̵ Vertical depth of 600m ̵ Good ground conditions, utilise mesh for ground support Limited airleg mining for escapeways and stoping slots ̵ Limited airleg mining for escapeways and stoping slots ̵ Gold Fields do all underground mining ̵ Barminco perform underground diamond drilling ̵ Fleet of:
- 4 Trucks (Caterpillar and Atlas Copco)
- 4 Loaders (Caterpillar)
- 2 Jumbos (Sandvik)
- 2 Production Drills (Atlas and Sandvik)
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- duct o
s ( t as a d Sa d )
- 1 Charge rig
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
New Holland Underground
255,000
Genesis Pit
New Holland Underground
690m New Holland Pit Genesis Pit
6,900,000 6,900,000
Oblique view facing North West
200mV
255,000
250mH
75-80% Extraction
New Holland Underground:
- Decline accessed with 2 Portals
Decline accessed with 2 Portals
- Full owner mining
- Utilise longhole open stoping combined with room and pillar
- Development intensive due to the flat nature of the orebody.
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p y
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
OHS & Sustainability
Agnew/Lawlers Gold Mine
Key Safety Metrics Key Safety Metrics
Target
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Safety Initiatives in 2014
- Vital Behavior's initiated in Q2 (Safety Culture Program)
Safety Initiatives in 2014
- Standardisation and increased communication of Agnew’s Injury Management
- Internal Compliance Schedule Tracking– Quarterly (bonus parameter)
p g Q y ( p )
- Diesel Particulate monitoring has been integrated into existing monitoring programmes
- New Safety Management System and Strategic Plan rolled out to include both New Holland and
Waroonga Critical Hazard Risks Assessments.
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew Gold Mine – Environment and Community
Key Projects for 2014 Key Projects for 2014
Item Detail Actions
- Existing Emu bore-field extraction volumes have
Project 1 Water Security g been optimised across all bores
- Water management plans to include the
additional water now available from Lawlers bore-fields and pits Project 2 Lawlers operations to be ISO14001 accredited
- Lawlers to be included under Agnew’s
Environmental Management System Certification (ISO14001) via an upcoming expansion of scope audit expansion of scope audit
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Agnew Gold Mine | Jason Sander | July 2014 Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew Gold Mine
Human Resources Human Resources
Description 2013 2014 Employees in service 302 285 Employees in service 302 285 Contractors 261 281 TE+C 563 566 Tonnes mined/ TE+C 234 251 Oz Sold / TE+C 43 35
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*TE+C (Total number of employees plus Total number of Contractors)
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Top Five Priorities
- Focus on costs
Top Five Priorities
- Kim South replacement
- Turning endowment potential of combined site to account - Life of Mine extension
g p
- Paste Plant management
- Safety management on combined Agnew / Lawlers site
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Mine Geology
245,000 250,000 255,000 260,000 265,000 270,000 275,000 245,000 250,000 255,000 260,000 265,000 270,000 275,000
Agnew/Lawlers Gold Mine
Regional Geology
2,500 5,000 7,500 10,000 Meters
/
F
6,925,000 6,925,000 6,930,000 6,930,000 6,925,000 6,925,000 6,930,000 6,930,000
Agnew_Geology
Felsic Granite Sediment Siltstone
- Situated in northern portion of Norseman-Wiluna Greenstone
Belt
Regional Geology
F
000 000 6,920,000 6,920,000 6 6 000 000 6,920,000 6,920,000 6 6
Sandstone Conglomerate Mafic Mafic Intrusive Dolerite
- Locally the Belt is composed of sedimentary and volcanic
rock packages that all have potential to host gold deposits
M F F F M
6,910,000 6,910,000 6,915,0 6,915,0 6,910,000 6,910,000 6,915,0 6,915,0
Mafic Volcanic Basalt Ultramafic
rock packages that all have potential to host gold deposits
- Agnew/Lawlers adjacent to major super-crustal structures
M
00,000 00,000 6,905,000 6,905,000 00,000 00,000 6,905,000 6,905,000
Agnew Mill
(Ida Fault – Waroonga Shear) that potentially tap the mantle for gold rich fluids and deliver them to the near-surface environment
Agnew Mill
Agnew Mill
M M M F
6,895,000 6,895,000 6,90 6,90 6,895,000 6,895,000 6,90 6,90
Agnew Mill Lawlers Mill
- Although all Agnew deposits are broadly hosted by
intersections between structures and stratigraphy, there are
Agnew Mill Lawlers Mill
Agnew Mill Lawlers Mill
M M M M F F F
6,885,000 6,885,000 6,890,000 6,890,000 6,885,000 6,885,000 6,890,000 6,890,000
g p y, subtle differences in alteration and mineralisation controlled in part by the local host rock chemistry
Lawlers Mill 48
M F F
245,000 250,000 255,000 260,000 265,000 270,000 275,000 6,880,000 6,880,000 245,000 250,000 255,000 260,000 265,000 270,000 275,000 6,880,000 6,880,000
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Geology and Mineralisation Geology and Mineralisation
High potential for further extensions
Agnew_Geology
Felsic Granite Sediment Siltstone
- r repeat lodes
Siltstone Sandstone Conglomerate Mafic Mafic Intrusive Dolerite Dolerite Mafic Volcanic Basalt Ultramafic
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Geology and Mineralisation
255,000
Geology and Mineralisation
Waroonga Cross Section
R 16 8 Mt @ 5 53 /t f
New Holland Cross Section
Resource:2 4 Mt @ 8 72 g/t for 0 67Moz Resource: 16.8 Mt @ 5.53 g/t for 2.99Moz Reserve: 3.0 Mt @ 7.37 g/t for 0.71Moz Resource:2.4 Mt @ 8.72 g/t for 0.67Moz Reserve 1.2 Mt @ 6.24 g/t for 0.24Moz
6,900,000 6,900,000 255,000
Mafic/ Ultramafic
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014 Rock Code
SSF
- Fine Grained Sandstone
SSL
- Siltstone
SSVC
- Very Course Sandstone
Exploration
Agnew/Lawlers Gold Mine - Growth Pipeline (Brownfields)
Regional (Additional) Exploration Mine (Extensional) Exploration
Indicated Resource
Regional (Additional) Exploration Mine (Extensional) Exploration
FBH
Resource Development
FBH 500 Series Cinderella
Advanced Drilling
The Link Kath 500 Series 200 Series
Initial Drilling
Waroonga Extensions 600/700 Series Hidden Secret Yeoman (Main South)
Waroonga North
5
Cinderella North, Alice
Colours Black: Waroonga Blue: New Holland
Target Definition
Waroonga North FBH (deep) Kim South (deep) GNH (deep) Eastern Sandstone
Research and development
15
Cams, Pinnacles Research and development
Research and development 3-D Leapfrog Modelling Ongoing Deep Drilling Programs
Research and development 3-D GoCAD & Leapfrog Modelling Mineral Systems/Prospectivity Mapping
- Large number of regional targets on Lawlers ground being assessed
52
- Large number of regional targets on Lawlers ground being assessed
- Potential of all known resources on Lawlers tenement package being reviewed and assessed
- Open pit resources currently not included in Lawlers resource statement
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Geology
Agnew_Geology
Felsic Granite S di t
gy
- Endowment and
Exploration Potential is strong over combined
Sediment Siltstone Sandstone Conglomerate Mafic Mafic Intrusive Waroonga
tenement areas
- Lawlers prospect areas
under review – little surface exploration
Mafic Intrusive Dolerite Mafic Volcanic Basalt Ultramafic
Target Area
surface exploration completed for last 10+ years
Target Area
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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Positioning New Holland and Waroonga Relative To Each Other (looking East) Positioning New Holland and Waroonga Relative To Each Other (looking East)
N S
Waroonga Nth
2.6km
Waroonga Nth plunge
600/700 series
Previous Lease Boundary
~640m
3.2km
~640m separates the 2 underground mining areas p g g Very large system with potential to +2km depth ̵ NH-G beyond 700 series ̵ Hidden Secret plunge
Waroonga Deeps 2000mbs
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̵ Waroonga North ̵ Waroonga Deeps
000 bs
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
The Targets (Plan view and looking West) The Targets (Plan view and looking West)
500 Series 200 Series Hidden Secret 253,000 254,000 255,000 3,000 3,000 6,903 6,903 6,902,000 6,902,000
1,500 m
6,901,000 6,901,000 00 00
300 600
/
6,900,00 6,900,00
1,000 m
55
300 600 Meters
253,000 254,000 255,000
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Waroonga Drilling Results: Kath Upper Kim/Fitzroy Positions Waroonga Drilling Results: Kath Upper, Kim/Fitzroy Positions
8 2m @ 11 5g/t incl 4 6m @ 15 4g/t
Waroonga North Kath Upper Rajah
8.2m @ 11.5g/t incl. 4.6m @ 15.4g/t
Waroonga North Main North Main South
Target completed, Preliminary Assays received Target completed Assays
Legend Yeoman FBH Kath
Existing intersection point on “Kim Contact”
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Target completed, Assays Pending Target not yet completed
Link Kim
EMSD1081W9: Kim: 5.5m @ 6.9g/t incl. 1.3m @ 17.4g/t Fitzroy: 1.6m @ 1.8g/t Midreef: NSA Bengal: NSA EMSD1080W7: Kim: 12.6m @ 6.7g/t incl. 4.5m @ 14.8g/t Fitzroy: 4.8m @ 3.2g/t Midreef: NSA Bengal: NSA EMSD1080W8:
10 20 30 40 50 5
Gram-Metre-Product Isoline Legend: EMSD1081W10: Kim/Fitzroy: 7.8m @ 5.4g/t incl. 1.8m @ 9.2g/t Midreef: 4.8m @ 5.7g/t incl. 2.2m @ 10.4g/t Bengal: 3.1m @ 1.8g/t Hastings (?): 11.7m @ 2.4g/t EMSD1081W11: Ki /Fit 17 3 @ 4 3 /t i l 3 4 @ 12 3 /t EMSD1081W12: Kim/Fitzroy: 3.0m @ 2.4g/t Midreef: 27 9m @ 4 0g/t Incl 2 6m @ 12 3g/t Kim: 1.3m @ 16.2g/t Fitzroy: 1.3m @ 1.5/t Midreef: 5.0m @ 2.2g/t 10.0m @ 1.8g/t Bengal: 9.8m @ 3.0g/t incl. 7.89m @ 3.37g/t Note: Gram-Metre-Product Isolines highlight general areas of mineralisation and do not necessarily highlight high grade ore shoots! Only Fitzroy/Bengal Isolines are true-width-corrected. Other Isolines represent down-hole intersections. Waroonga Stopes and Development as of end of December 2013
56
N – S Longitudinal Section, looking East. Isolines shown are for Kim/Fitzroy Surface only. Kim/Fitzroy: 17.3m @ 4.3g/t incl. 3.4m @ 12.3g/t Midreef: Assays Pending Bengal: Assays Pending Midreef: 27.9m @ 4.0g/t
- Incl. 2.6m @ 12.3g/t
- Incl. 6.9m @ 6.4g/t
Bengal: 3.89m @ 2.76g/t
Target Zones
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Waroonga Drilling Results: Waroonga North Kath Waroonga Drilling Results: Waroonga North, Kath
Waroonga North Kath Upper Rajah
EMSD1103: 2.37m @ 19.0 g/t EMSD1104: 0.3m @ 23.2g/t
Waroonga North Main North Main South
EMSD1090: 3 5m @ 11 15g/t incl 1 58m @ 22 96g/t EMSD1125A: 8.07m @ 2.10g/t
Yeoman FBH Kath
Existing intersection point on “Edmunds Footwall” Gram-Metre-Product Isoline Legend:
Legend
3.5m @ 11.15g/t incl. 1.58m @ 22.96g/t EMSD1134: 4.13m @ 8.17g/t incl. 1.60m @ 17.68g/t EMSD1139: 5.2m @ 15.03g/t incl. 2.73m @ 19.73g/t
Link Kim
1 2 3 4 5 7 5 5
Isoline Legend: KSOD46001: 1.9m @ 10.3g/t Note: Gram-Metre-Product Isolines highlight general areas of mineralisation and do not necessarily highlight high grade ore shoots! Only Fitzroy/Bengal Isolines are true-width-
- corrected. Other Isolines represent down-hole
intersections. Waroonga Stopes and Development as of end of December 2013 KSOD46003: 0.8m @ 10g/t WDU1226: 3.5m @ 20.5g/t KSOD46002: 1m @ 12.1g/t
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N – S Longitudinal Section, looking East. Isolines shown are for Edmunds/Bengal surface only.
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Genesis New Holland Exploration Genesis New Holland Exploration
200 Series Hidden Secret 500 Series 200 Series 58
Obvious targets tested in 2014
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
The 200 Series The 200 Series
T t A Target Area
- Current 200 Series reserve approximately 250m along strike
- Interpreted structure extends another ~950m but is not sufficiently drill
t t d tested
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250Koz Target
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
The 500 Series The 500 Series
Target Area Extrapolation of 500 Series position
North South
Genesis Pit
- Genesis 500 main ounce producer since 2011
- Mineralised system is open to the north – Structures intersected 200m
th i 2014 Q1 north in 2014 Q1
- Drilling to test further extensions of the 200 Series as well
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500Koz Target
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
600/700 Series
South North
600/700 Series
600/700 Series
N H ll d 1.2m @15g/t
600 S i tl >800
New Holland Genesis
700 S i tl 400 600 Series currently >800m strike length approximately 120m below 500 Series. Open to north and south
Batavia Sheba
700 Series currently >400m strike length and a further 100m below 600 series. Open to north and south
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+250Koz Resource Target
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Hidden Secret
1m@68 0g/t
Hidden Secret
Hidden Secret
2m@62.2g/t 8m@20.2g/t 1m@43.8g/t 1m@68.0g/t
Hidden Secret Pit
1m@105g/t 2m@51.3g/t 3m@53.5g/t incl. 1m@142g/t 2m@28.9g/t 1m@33.8g/t
4m@23 0g/t 2m@38.6g/t
WARCD0470
3m@33.0g/t
WARCD0470
Hidden Secret
Longsection of Hidden Secret with Au
4m@23.0g/t
WARCD0470 WARCD0470
6m@34.0g/t incl. 2m@96.9g/t
WARCD0470
>10g/t
1m@46.6g/t
C
0.3m@307g/t
WARCD0470
2m@22.8g/t
WARCD0470
New Holland
- Wide spaced drilling between New Holland and
Hidden Secret pits
WARCD0470
New Holland
Hidden Secret pits
- Presence of high grade (westerly style)
mineralisation similar to the 500 series
- No drilling at depth
200m
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1.6km Strike Length – Existing High Grade Intersections
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014
Agnew/Lawlers Gold Mine
Conclusions Conclusions
- Outstanding reserve replacement history
- Agnew and Lawlers have historically had a LoM of approximately 3 years, every year, since 1986
- Situated in a highly prospective region for further gold discovery
- Experienced focused management team
- Experienced focused management team
- About to develop a new major orebody which will improve margins
- Well positioned with excellent exploration potential to extend life and deliver
- Well positioned with excellent exploration potential to extend life and deliver
- unces at targeted AISC’s
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A Strong GFI Franchise Asset
Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014