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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


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Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine

JASON SANDER JASON SANDER General Manager

14th July 2014

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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

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SLIDE 3

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

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SLIDE 4

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

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SLIDE 5

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

5

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

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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

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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

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SLIDE 8

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

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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

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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

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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

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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

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What did we buy?

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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

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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

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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)
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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

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SLIDE 18

Why did we buy Lawlers?

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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

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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

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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

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What have we done since the acquisition?

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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

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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

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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

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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)

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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

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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

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Processing

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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

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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

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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

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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

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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

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Mining - Underground

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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

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SLIDE 37

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

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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

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SLIDE 39

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

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SLIDE 40

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

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SLIDE 41

OHS & Sustainability

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SLIDE 42

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

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SLIDE 43

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

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SLIDE 44

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

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SLIDE 45

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

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SLIDE 46

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

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SLIDE 47

Mine Geology

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SLIDE 48

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

slide-49
SLIDE 49

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

49

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014

slide-50
SLIDE 50

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

50

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
slide-51
SLIDE 51

Exploration

slide-52
SLIDE 52

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

slide-53
SLIDE 53

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

53

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014

slide-54
SLIDE 54

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

54

̵ Waroonga North ̵ Waroonga Deeps

000 bs

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014

slide-55
SLIDE 55

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

slide-56
SLIDE 56

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”

75

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

slide-57
SLIDE 57

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

57

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

slide-58
SLIDE 58

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

slide-59
SLIDE 59

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

59

250Koz Target

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014

slide-60
SLIDE 60

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

60

500Koz Target

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014

slide-61
SLIDE 61

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

61

+250Koz Resource Target

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014

slide-62
SLIDE 62

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

62

1.6km Strike Length – Existing High Grade Intersections

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014

slide-63
SLIDE 63

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

63

A Strong GFI Franchise Asset

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine | Jason Sander | July 2014

slide-64
SLIDE 64

Gold Fields Australia Site Visit: Agnew/Lawlers Gold Mine

JASON SANDER JASON SANDER General Manager

14th July 2014