INVESTOR PRESENTATION OCTOBER 2014

INVESTOR PRESENTATION
OCTOBER 2014
DISCLAIMER
This presentation contains only a brief overview of Millennium Minerals Limited. The contents of
this presentation, including matters relating to the geology of Millennium’s projects, may rely on
various assumptions and subjective interpretations which it is not possible to detail in this
presentation and which have not been subject to any independent verification.
This presentation contains a number of forward looking statements. Known and unknown risks
and uncertainties, and factors outside of Millennium’s control, may cause the actual results,
performance and achievements of Millennium to differ materially from those expressed or implied
in this presentation.
To the extent permitted by law, Millennium does not warrant the accuracy, currency or
completeness of the information in this presentation, nor the future performance of Millennium,
and will not be responsible for any loss or damage arising from the use of information.
The information contained in this presentation is not suitable for detailed investigation or analysis
of any particular issue. Current and potential investors and shareholders should seek independent
advice before making any investment decision in regard to Millennium or its activities.
2
The Gold Industry pays it’s way
MILLENNIUM MINERALS - CORPORATE
EMERGING GOLD PRODUCER WITH A HIGH QUALITY TENEMENT
PORTFOLIO IN THE EAST PILBARA DISTRICT, WESTERN AUSTRALIA
CORPORATE SNAPSHOT
MANAGEMENT
ASX Code
MOY
BRIAN REAR
Managing Director & CEO
Market Capitalisation
~ AUD$17M
RICHARD HILL
Shares on issue
218M
Chief Financial Officer
Share Price $0.07
SIMON POOLEY
GM Operations
Cash at 30 Sept 2014
$4M
GLENN DOVASTON
Site General Manager
Debt
$32M
PIERRE MALHERBE
Company Secretary
REGISTER BREAKDOWN %
1
Institutional
23
High Net Worth
34.7
Retail
20.3
21
BOARD
RICHARD PROCTER
Non Executive Chairman
MICHAEL CHYE
Non Executive Director
ROSS GILLON
Non Executive Director
GREG BITTAR
Non Executive Director
BRIAN REAR
Managing Director&CEO
IMC Group
Directors and
Management
4
EAST PILBARA DISTRICT- WESTERN AUSTRALIA
5
NULLAGINE GOLD PROJECT
OVERVIEW
6
NULLAGINE GOLD PROJECT
 ~250 km2 within one of the oldest, and
CHARACTERISTICS
perhaps least explored Goldfields in
JORC MINERAL RESOURCES
1.91M oz
Western Australia
ORE RESERVE
464,400 oz
MINE LIFE (APPROX)
6 years
 Project construction completed
September 2012
 On Time and On Budget - $89M
CIL PROCESSING PLANT
DESIGN
1.5 Mtpa
CAPACITY
 First gold poured September 2012
 1.91 million ounce gold resource at a grade of 1.26 g/t contained within 7
deposits locations on granted mining leases. The largest deposit, Golden Eagle
contains 42% of the total Mineral Resource inventory
 Hedge contracts in place for  70% of forecast gold production at an average
forward delivery price of A$1,500 out to June 2016
7
WEATHERING THE STORM
 Multiple ore sources provide operational choices
 Ore hardness, grade, recovery
 Focus on margins
 Low-overhead, lean business model with a strong cost discipline
 Increase production while maintaining a constant asset and capital base
 Proactive approach to price and operational risk management
 Develop and maintain a strong pipeline of deposits at various points of the
exploration/development cycle
8
OPERATING PERFORMANCE – AT A GLANCE
Production ‐ Processing
Fine Gold Production (koz)
18.7
20.0
17.8
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
18.1
15.0
10.0
5.0
20,000
17,500
15,000
12,500
10,000
7,500
5,000
2,500
0
Mar‐14
Jun‐14
Sept‐14
0.0
Mar‐14
Jun‐14
Ore tonnes milled (LHS)
Sept‐14
Gold Sales and Revenue
20,000
Fine Gold Ounces (RHS)
Unit Costs
30
1,400
25
1,200
15,000
20
1,000
800
15
10,000
10
5,000
0
Mar‐14
Ounces Sold (LHS)
Jun‐14
Sept‐14
Revenue A$ Million (RHS)
600
400
5
200
0
0
Mar‐14
C1 Costs
Jun‐14
Sept‐14
All in sustaining Costs
9
HALF YEAR INTERIM FINANCIALS AND
SEPTEMBER QUARTER RESULTS
 June 14 Half Year Results:
 The Company generated net operating cash flow of $7.49 million  Mine level EBITDA was $11.26 million.
 After tax loss was $12.49 million.
 Gross operating margin averaged $386 per ounce
 September 14 Quarter Results:
 Achieved guidance of 16,000 to 18,000 ounces Au
 18,127 ounces fine gold produced
 Revenue of $27.4M
 Grade 1.70 g/t Au
 Recovery 87%
 Gross operating margin $435 per ounce
10
OPERATIONAL SUMMARY
Quarter ended
Sep‐14
Jun‐14
Mar‐14
YTD‐14
Total volume mined (bcm)
1,002,985
951,235
827,083
2,781,303
Ore milled (tonnes)
382,676
400,539
426,473
1,209,688
Head grade (g/t Au)
1.70
1.58
1.49
1.58
Metallurgical recovery (%)
87
86
89
88
Fine gold production (ounces)
18,127
17,788
18,762
54,677
Gold sold (ounces)
18,100
17,793
18,925
54,818
Gold sales revenue ($M)
27.4
27.7
27.6
82.7
C1 cash cost ($/ounce poured)
1,081
1,178
1,065
1,107
Sustaining cost ($/ounce poured)
1,197
1,303
1,190
1,229
435
380
393
402
Gross operating margin ($/ounce poured)
September Qtr: 10% increase in grade milled, 15% increase in gross operating margin
11
KEY OPERATING ELEMENTS
 Dry hire mining fleet - owner operator and manage mining
 120 tonne and 80 tonne excavators, 777’s and 740’s - multiple pits
 140 man accommodation village – 85-90 on site at any one time
 113 direct employees, includes 7 head office and exploration
 Corporate overhead - 3% to 5% of revenue
 Senior Project finance - 45% of all facilities repaid to date, $24.6M outstanding
 Asset leasing facility - $4M outstanding
12
TAPPING THE POTENTIAL
• Mill up time performance above 97% • Annualised throughput rates as high as 1.75 MTPY
• Looking at exploiting mill performance in mine Crushed Ore
planning
Stockpile
Elution and Gold Room
Leach Circuit
Mill
Primary Crusher
13
RESOURCE TO RESERVE GROWTH AHEAD
Mineral Resource and Ore Reserve Development
Revised
LOM and Ore Reserve
2,500,000
Commissioning
2,000,000
Construction
GFC
1,500,000
1,000,000
Resource
Development
500,000
0
FY04
FY05
FY06
FY07
FY08
Mineral Resource Ounces
FY09
FY10
Ore Reserve Ounces
FY11
FY12
FY13
FY14
14
DEVELOPMENT PIPELINE - NOW
15
GROW RESOURCES & RESERVES
1. Organic growth -3 areas of Project
upside through exploration.
a) GROW Existing deposits
b) CONVERT Resources→Reserves
c) NEW MML prospects & development
KEY to future material growth
16
EXPLORATION – ORGANIC GROWTH
A. GROW Existing
•
CONDOR - NW extension - 200m+ strike, outcropping mineralisation
with rock chips 9- 24 g/t Au; 2 parallel zones
•
SHEARERS/OTWAYS - 2 zones at Shearers west, 250m strike,
recent RC holes 4m @ 1.72 g/t Au, 33m @ 0.59 g/t Au
•
OTHERS - small increments
17
EXPLORATION – ORGANIC GROWTH
B. Convert Mineral Resources to
Reserves
Au81 only 2 km from Golden Eagle Plant
• 47,900 Oz Resource 2013
• Excellent 2014 drilling results (ASX 4 June)
• Updated Resource & maiden Reserve expected 2nd Half
Beatons Creek JV
• 421,000 Oz maiden Resource 2013
• JV with Nova Resources
18
EXPLORATION – ORGANIC GROWTH
C. New Prospects
Have historical workings (=high grades), ore-grade intersections
and/or rock chips, limited drilling as yet
a) Majuba Hill -800m+ strike within a 1.2 km soils anomaly,
some RAB drilling: 2m @ 6.5 g/t Au, recent 234 g/t Au rock
chip, Golden Eagle ‘look-alike’ alteration style
b) Golden Eagle SW -1,000m+ strike, strong soils, 200m of RAB
anomalism: e.g. 3m @ 2.1, same Golden Eagle alteration,
strongest mineralisation trend
19
HIGH POTENTIAL NEW PROSPECTS & DEPOSITS
Close to current deposits & infrastructure ‐low development capital requirements
20
DEVELOPMENT PIPELINE
Extract
Prove up
Define & Grow
21
BEATONS CREEK JOINT VENTURE
NOVO RESOURCES (CNX:NVO) EARNING 70% OF THE GOLD RIGHTS
PURPOSE
CHARACTERISTICS
 To bring Millennium’s Beatons Creek deposits
OWNERSHIP SPLIT
Novo:
70% (option)
Millennium: 30%
ESTABLISHED
2011
TERMS OF FARM-OUT
LOCATION
Nullagine
 Novo Resources: $2M over a
STATUS
Advanced Exploration/
Development
MINERAL RESOURCE
421,000 oz
into production
5-year period to produce a bankable feasibility
 Millennium Minerals: Beatons Creek Mining leases
MINERAL RESOURCE
 Maiden estimate of ~ 421,000 ounces (8.9Mt at 1.47g/t Au), contained within
two-shallow, sub-horizontal gold-bearing conglomerate horizons displaying strong
lateral continuity
NEXT STEPS
 Infill and extensional drilling program in 2014
22
2013 EXPLORATION MILESTONE
NULLAGINE GOLD PROJECT
 Mineral Resource estimate increased:
-
Up 44% in ounces
-
Up 36% in tonnes
-
Up 6% in grade
-
47.13Mt grading at 1.26 g/t Au for 1,908,800 contained ounces
BEATONS CREEK JV
 Maiden Mineral Resources Estimate: 421,000 ounces
CAMEL CREEK JV (50% Millennium)
 Maiden Ore Reserve: 0.64Mt grading at 1.53 g/t Au for 33,400 ounces
23
IT’S ALL ABOUT VALUE

GREENFIELD DEVELOPMENT WITH A SOLID TRACK RECORD
‐

EXPERIENCED MANAGEMENT TEAM WITH TRACK RECORD OF DELIVERY
‐

Extensive commercial, technical and resource sector experience
STRONG VALUE PROPOSITION
‐
‐

Consistent delivery of project milestones on time and within budget
‐ Delivered on time and cost to build
‐ Production guidance met YTD
Almost 1.5:1 on 2014 interim cash flow multiples
EV/reserve ounces $125/ounce  50% producer average
QUALITY ASSETS WITH SIGNIFICANT ORGANIC GROWTH POTENTIAL
‐
‐
Extensive exploration program plan: 90% of portfolio in exploration-development
phase
Virtually no greenfield exploration – targets are defined geological occurrences
INVESTOR PRESENTATION
OCTOBER 2014
APPENDICES – MINERAL RESOURCES
MEASURED
DEPOSIT
Mt
Grade
INDICATED
Mt
g/t Au
Grade
g/t Au
Grade
Mt
g/t Au
Grade
Ounces
g/t Au
13.24
1.21
4.4
1.03
4.17
1.06
21.82
1.15
805,000
1.72
1.21
1.44
1.17
0.55
1.12
3.71
1.20
141,000
Shearers3
0.59
1.27
1.48
1.01
0.26
1.00
2.33
1.10
81,000
Otways3
Eagle2
1.15
0.81
0.9
0.87
0.692
0.92
2.74
0.86
75,000
Nations3
1.26
1.36
0.55
1.08
0.42
1.04
2.23
1.23
88,000
Little Wonder3
0.47
1.35
0.25
1.43
0.22
1.68
0.94
1.45
43,700
Golden Gate (ABCD)4
All
0.66
3.30
0.16
2.99
0.14
2.29
0.95
3.10
95,000
Falcon4
-
-
0.09
3.90
0.04
4.40
0.14
4.00
18,000
Condor4
0.15
2.61
0.05
2.83
0.03
3.71
0.22
2.80
20,000
Harrier4
-
-
0.1
1.80
0.04
1.80
0.14
1.80
8,000
0.04
3.14
0.04
2.62
0.05
2.34
0.12
2.65
10,500
-
-
0.03
3.71
0.02
3.69
0.05
3.70
6,200
-
-
-
-
1.5
1.00
1.5
1.00
47,900
0.62
1.32
0.36
1.17
0.35
1.11
1.34
1.23
52,500
8.9
1.47
8.9
1.47
421,000
17.38
1.30
47.13
1.26
1,912,800
Crow4
G_Reef4
Au813
Camel Creek
JV6
Beatons Creek Earn In7
Total
6.
7.
Mt
TOTAL
Bartons3
Golden
Notes:
1.
2.
3.
4.
5.
INFERRED
19.9
1.29
9.85
1.14
Figures in Table may not sum due to rounding.
The Golden Eagle deposit was estimated using Multiple Indicator Kriging methodology for grade estimation by CSA Global.
The Bartons, Shearers, Otways, All Nations, Little Wonder and Au81 were estimated using Ordinary Kriging methodology for grade estimation by CSA Global.
The Golden Gate (ABCD reef), and Golden Gate satellite deposits, namely Falcon, Condor, Harrier, Crow and G Reef were estimated using Ordinary Kriging.
The Golden Gate and Bartons deposits are the subject of a mining licence agreement whereby Millennium has the sole and exclusive right to explore and mine gold and other minerals. Millennium then is required to pay 25% of the net proceeds to
the tenement owners (Livestock Marketing Pty Ltd, Duncan Thomas Young, Simba Holdings Pty Ltd and Ronald Lane Swinney) after mining and processing cost deductions.
The Mineral Resources at the Camel Creek JV (CCJV) were estimated using Ordinary Kriging methodology by CSA Global. Only Millennium's 50% interest is stated in the above table.
The Mineral Resources at Beatons Creek deposit estimated using Ordinary Kriging methodology for grade estimation by Tetra Tech Inc. Beatons Creek is subject to a farmin- Joint Venture with Novo Resources Corp (Novo) (CNSX:NVO). Under
the Farm-In agreement Novo may earn a 70% interest in the Beatons Creek tenements by delivering a bankable Feasibility Study on the property within 5 years of commencement of the Agreement which was executed in August 2011. “As Novo
has yet to earn an interest in the Beatons Creek tenements, the Company accounts for 100% of the mineral resource on the Beatons Creek tenements.
26
The Mineral Resources estimates include previously stated Ore Reserves, and are calculated under the 2004 JORC code.
APPENDICES – ORE RESERVES
PROVED
PROBABLE
TOTAL
PROSPECT
OUNCES
tonnes
grade (g/t Au)
tonnes
grade (g/t Au)
tonnes
grade (g/t Au)
4,305,200
1.5
522,100
1.6
4,827,400
1.5
237,500
Bartons
802,000
1.5
230,000
1.6
1,032,100
1.6
51,800
All Nations
354,100
1.8
13,000
1.5
367,100
1.8
21,300
Shearers
411,300
1.5
200,400
1.4
611,700
1.4
28,100
Otways
169,700
1.3
54,600
1.2
224,400
1.3
9,000
Little Wonder
105,500
1.9
11,700
4.9
117,300
2.2
8,500
Golden Gate ABCD
434,300
3.4
38,600
4.1
473,000
3.5
53,100
Condor²
66,900
2.5
18,900
3.2
85,800
2.7
7,300
Crow²
18,600
2.6
13,700
2.5
32,400
2.5
2,600
Falcon²
‐
‐
75,600
3.9
75,600
3.9
9,400
Harrier²
‐
‐
39,300
2
39,300
2
2,500
G reef²
‐
‐
31,900
3.5
31,900
3.5
3,600
Little Wonder (CCJV)
92,100
1.5
2,400
1.6
94,500
1.5
5,600
Roscoes Reward
153,200
1.4
23,200
1.3
176,400
1.4
7,600
Junction
43,000
2.3
4,300
2.4
47,400
2.3
3,500
6,955,900
1.7
1,279,700
1.9
8,236,300
1.7
453,000
420,700
0.7
9,400
37,300
1.7
2,000
8,694,300
1.7
464,400
27
Golden Eagle
Total
Stockpiles ROM: LG
HG
TOTAL
6,955,900
1.7
1,279,700
1.9
COMPETENT PERSONS STATEMENTS
Competent Persons Statements – Exploration Results
Mr I Hay (MAIG), a geologist employed full-time by Millennium Minerals Limited, compiled the technical aspects of this report. Mr Hay is a member
of the Australian Institute of Geoscientists and has sufficient experience that is relevant to this style of mineralization and type of deposit under
consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Hay consents to the inclusion in the report of the matters in the
form and context in which it appears.
Competent Persons Statements – Mineral Resources
The information in this Report which relates to the Golden Eagle, Bartons, Shearers, Otways, All Nations, Little Wonder, CCJV, ABC Reef, D
Reef, Condor and Crow Mineral Resource estimates accurately reflects information prepared by competent persons (as defined by the
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves). These Mineral Resource estimates have been
compiled and prepared by Dr Bielin Shi, (MAusIMM) of CSA Global Pty. Ltd. who is a Competent Person as defined by the Australasian Code for
the reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2004 Edition and who consents to the inclusion in this
report of the matters based on the information in the form and context in which it appears.
The information in this Report which relates to the Au81 Mineral Resource estimate accurately reflects information prepared by competent
persons (as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves). The Au81 deposit
Mineral Resource estimate has been compiled and prepared by Mr. Grant Louw (MAIG, MGSSA) of CSA Global Pty. Ltd. who is a Competent
Person as defined by the Australasian Code for the reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2004
Edition and who consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
The information in this Report which relates to the G Reef Mineral Resource estimate accurately reflects information prepared by competent
persons (as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves). The G Reef deposit
Mineral Resource estimate has been compiled and prepared by Mr. Dmitry Pertel (MAIG, MGSSA) of CSA Global Pty. Ltd. who is a Competent
Person as defined by the Australasian Code for the reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2004
Edition and who consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
The information in this Report which relates to the Flacon and Harrier Satellite Mineral Resource estimates accurately reflects information
prepared by competent persons (as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves).
The Falcon and Harrier satellite deposits Mineral Resource estimate has been compiled and prepared by Steven Hodgson, (MAIG) of CSA Global
Pty. Ltd. who is a Competent Person as defined by the Australasian Code for the reporting of Exploration Results, Mineral Resources and Ore
Reserves (JORC Code) 2004 Edition and who consents to the inclusion in this report of the matters based on the information in the form and
context in which it appears.
28
COMPETENT PERSONS STATEMENTS
Patrick Huxtable of Tetra Tech, Perth, Australia, has prepared the Mineral Resource Estimate for the Beatons Creek Gold Project, and is
independent of Novo Resources Corporation for purposes of National Instrument 43‐101 ‐ Standards of Disclosure for Mineral Projects ("NI
43‐101"). Mr Huxtable (RPGeo MAIG) is a Qualified Person as defined by NI 43‐101. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation,
sociopolitical, marketing, or other relevant issues. The quantity and grade of reported inferred resources in this estimation are uncertain in nature
and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if
further exploration will result in upgrading them to an indicated or measured mineral resource category. The mineral resources in this news release
were estimated using current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards, definitions and guidelines.
Competent Persons Statements – Ore Reserves
The information in this Report, which relates to the Ore Reserve estimates accurately reflect information prepared by competent persons (as
defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves). The information in this public
statement that relates to the Ore Reserves at the Millennium Minerals Nullagine Project is based on information compiled by Mr Steve Lampron and
Mr. Daniel Tuffin. Mr. Daniel Tuffin of Auralia Mining Consulting completed the Ore Reserve estimate. Mr Daniel Tuffin is a Member of the
Australasian Institute of Mining and Metallurgy (#228649) and has sufficient experience that is relevant to the style of mineralisation and type of
deposit under consideration and to the activity that they are undertaking to qualify him as a Competent Person as defined in accordance with the
Australasian Joint Ore Reserves Committee (JORC).
29
DIRECTORS AND MANAGEMENT
BRIAN REAR, MSc, AWASM (Metallurgy), Managing Director/CEO
Mr Rear is a graduate of the Western Australian School of Mines (AWASM Metallurgy), The Royal School of Mines (MSc London, Mineral Process
Design, DIC) and holds a Masters Degree in Business Leadership from the Business School of the University of South Africa. He is a member of
the Australian Institute of Company Directors. He has extensive international experience in process engineering, project development and company
management having successfully developed three green-field projects and the turnaround of a fourth covering base metals and thermal coal. His
career includes stints with Rio Tinto, Anglo Vaal Limited, Straits Resources (founding director and CEO) and CopperCo Limited covering
commodities as diverse as thermal coal, gold, uranium, base metals and industrial minerals. Mr Rear has accumulated significant experience in the
development and in the operation of copper heap leach SX-EW projects, feasibility studies and project finance. He has work experience in Papua
New Guinea, Indonesia, Southern Africa, United Kingdom, East Asia and Australia.
RICHARD PROCTOR, BSc (Mining), MBA, CEng, Non-Executive Chairman
Mr. Procter is a mining engineer with over 30 years broad international experience encompassing roles in the corporate, operations, contracting,
consulting and mine development areas. He has held senior industry positions that have demonstrated leadership and management of base and
precious metal mining companies (both underground and open); development of project assessment types including definitive/bankable feasibility
studies and their conversion into mining operations; managed teams undertaking mining asset evaluations and valuations, including technical and
operational audits (encompassing complete mining asset due diligence and expert reports). He also has been involved in many mining operation
start-ups (both small and large) - as well as the re-engineering of large ongoing operations.
ROSS GILLON, BJuris, LLB, Non-Executive Director
Mr Gillon, principal of the legal firm Lawton Gillon, has been in legal practice for over 30 years and has previously been a Director of a number of
exploration companies.
GREG BITTAR Non-Executive Director
Mr Bittar has over 15 years investment banking and mining resource sector experience in Australia and overseas - having worked for Bankers
Trust, Baring Brothers Burrows and following the completion of his Masters in Finance in 2000, he joined Morgan Stanley, working in London,
Melbourne and Sydney. He has extensive experience in public and private markets mergers and acquisitions, capital markets and strategic
advisory assignments across a range of sectors including general industrials, metals and mining, mining services and energy. .
MICHAEL CHYE Non-Executive Director
Mr Chye has more than 25 years’ experience in finance and investments. He commenced his career in academia and subsequently worked for the
Singapore Government and multi-national companies before joining the TCC Group. He has also been an independent Director and Audit
Committee Chairman of publicly listed companies in Singapore. Mr Chye graduated with a Bachelor of Business Studies (with First Class Honours)
and a Masters (with Distinction) from Massey University, New Zealand. He is a Fellow of the Institute of Singapore Chartered Accountants, a
member of the Singapore Institute of Directors and an Associate of the Singapore Association of the Institute of Chartered Secretaries and
30
Administrators.
DIRECTORS AND MANAGEMENT
SIMON POOLEY, BSc (Geology), MAusIMM, MAIG, MAICD General Manager Operations
Mr Pooley is a geologist with over 30 years broad international experience encompassing roles in the corporate, operations, exploration and mine
development areas. He has held senior industry positions that have demonstrated leadership and management of base and precious metal
exploration and mining operations; development of project assessment types including definitive/bankable feasibility studies and their conversion
into mining operations and managed teams undertaking exploration evaluations and valuations. He is a member of the Australasian Institute of
Mining and Metallurgy as well as the Australian Institute of Geoscientists. His career includes stints with Dominion Mining, Ashton Mining and Rio
Tinto covering commodities as diverse as gold, base metals, diamonds and industrial minerals. He has been involved in a number of mining
operation start-ups from exploration through to construction and production.
RICHARD HILL, BComm, CPA, Chief Financial Officer
Mr Hill holds a Bachelor of Commerce degree, and is a qualified CPA. Richard has gained 14 years within gold and iron ore mining companies in a
range of financial and commercial roles. He has had exposure across the resources spectrum in operations, development projects (in all phases
from prefeasibility, construction and start-up through to operations), project evaluation and the closure of projects. He has wide experience in
financial reporting, financial management of both projects and operations, treasury management, compliance and risk management. He has had
experience in numerous corporate restructures and subsequent integration of companies. His career includes 2 years at Adamus Resources
Limited in the most recent capacity as General Manager Finance, 1 and 1/2 years at Grange Resources Limited as Senior Corporate Finance
Manager and Financial Controller and 8 years at Newmont Australia Limited in numerous roles including Commercial Manager.
31