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8 Independence Group NL
SIRIUS RESOURCES NL (SIRIUS) TRANSACTION HIGHLIGHTS
•
Acquisition has created a leading Australian diversified mining company.
•
Strong strategic rationale for transaction.
•
Acquisition of Sirius is consistent with IGO’s clearly defined growth strategy.
•
Delivers shareholders exposure to both Tropicana and Nova.
•
Combines near term development Nova Project with IGO’s strong current cash flows.
•
Portfolio of high quality assets (margin, mine life, jurisdiction and relevancy).
•
Transaction was well supported by Sirius shareholders with 98% of shares voted and 97% of shareholders voting,
voted for the transaction.
•
Consideration shares issued on the Implementation Date, 22 September 2015.
•
Mark Bennett and Neil Warburton from Sirius appointed to IGO Board in October 2015.
A SUMMARY OF IGO’S ASSETS FOLLOWING THE ACQUISITION OF SIRIUS
Tropicana
Long
Jaguar
Nova
Stockman
Ownership
30%
100%
100%
100%
100%
Location
WA
WA
WA
WA
Vic
Stage
Production
Production
Production
Construction
Permitting
Mine type
Open Pit
Underground
Underground
Underground
Underground
Commodity
Au
Ni
Zn/Cu
Ni/Cu
Cu/Zn
Resources
(1) (2)
115.7Mt @ 1.89g/t
Au for 7.04 Moz Au
1.4Mt @ 4.8% Ni
for 66.4 kt Ni
4.5Mt @ 1.5% Cu
6.5% Zn for 67.0 kt
Cu and 289.7 kt Zn
14.3Mt @ 2.3% Ni
0.9% Cu for 325 kt
Ni and 134 kt Cu
14Mt @ 2.1% Cu
4.3% Zn for 293.7 kt
Cu and 598.4 kt Zn
Reserves
(1) (2)
48.5Mt @ 1.93g/t
Au for 3.01 Moz Au
0.61Mt @ 3.6% Ni
for 22.0 kt Ni
1.2Mt @ 1.7% Cu
7.6% Zn for 19.7 kt
Cu and 87.8 kt Zn
13.1Mt @ 2.1% Ni
0.9% Cu for 273 kt
Ni and 112 kt Cu
9Mt @ 2.1% Cu
4.5% Zn for 189.0 kt
Cu and 407.8 kt Zn
Mine life (years)
9
3
3
10
8
FY2015 production
148,923
10.2kt Ni
45kt Zn + 7.4kt Cu
NA
NA
FY2015 cash costs
(3)
$568/oz
$4.01/lb Ni
$0.43/lb Zn
NA
NA
Start-up capex
NA
NA
NA
$443M
(4)
$202M
(5)
(1) See Mineral Resources and Ore Reserves in this report and IGO’s Mineral Resources and Ore Reserves update released to ASX on
28 October 2015 for further detail.
(2) Tropicana Resources & Reserves are stated on a 100% basis.
(3) FY2015 cash costs are expressed as per ounce of gold produced and per payable pound of nickel or zinc produced,
net of by-product credits and royalties.
(4) $138M spent as at 30 September 2015.
(5) Capex decision not yet made on Stockman.
PLANNING FOR SUCCESS
“We want our people to be safe.
This is a team effort.”
Ted Moir
Shift Boss
Long Operation