Carbine Resources Company Profile

Carbine Resources

TARGETING ECONOMIC SITE REMEDIATION VIA THE PROCESSING OF TAILINGS RESOURCES
Company Exposure

Gold

Company Listing

Carbine Resources

Stock Code

ASX:CRB

Company Overview



Carbine Resources (ASX: CRB) is an Australian junior resource company targeting near term production from its Mount Morgan Gold & Copper Project in Queensland, Australia.

The Company is committed to providing investors with significant returns on their investment and assisting in a new generation of thinking towards environmental cleanup, heritage sustainability and community interaction.

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Share Price Performance

Team

John Fitzgerald – Non-Executive Chairman
Tony James – Managing Director
Graham Brock – Non-Executive Director
Evan Cranston – Non-Executive Director
Terry Moylan – Chief Operating Officer

Major Shareholders

GR Engineering Services Ltd – 7.95%
Kingslane Pty Ltd – 4.60%
Kobia Holdings – 2.55%
Ulrich Muco – 2.25%
Stephen John Dobson – 2.14%
Ablett Pty Ltd – 2.13%
Top 20 Shareholders – 40.59%

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Projects Overview


Mount Morgan Gold Project Summary

 

Project Status (January 2018)

One remaining approval associated with EA Amendment (previously approved in 2010)
Strong Government support and regional growth funding application to be advised
FEED and demonstration plant completion; waiting final test results before financial model revision leading into project finance
Company currently reviewing new geophysics potential

 

Community & Environmental Enhancement

Significant inroads into Queensland Government acid mine drainage legacy +A$500M
Tailings removed from old waterways and original gullies restablished; copper (2ktpa) and pyrite (200Ktpa) biproducts removed from site
12 month construction period with A$85M capital spend, 20 year operating costs +A$45M/year
60 direct jobs, no FIFO, alleviating +25% unemployment in township
Environmental cleanup and heritage vision linked to green tourism opportunity

Feasibility Study Key Results

  1. Long Life Project (1.1MtPa throughput)
    >> 9.5 year base case
    >> 20 year expanded case
    >> Famous geological address but almost no modern exploration
  2. Low Cost- AISC of A$549/Au oz
  3. Payback-2 years
  4. Pre-Production capital of A$85m which includes
    >> Processing Plant 75.6m
  5. Maiden ore reserve of 9.9Mt@ 1.8g/t Aueq (1.2g/tAu, 0.16% Cu), 21% Pyrite)
Notes
  1. Please refer announcement ASX: 8 December 2016.
  2. AISC = C1 + royalties + sustaining capital costs (C1 = Direct cash operating costs produced net of by-product credits),
  3. Preproduction capital is capital spent prior to first gold production.
  4. AuEq reference formula Appendix F:
Front-End Engineering Design (Feed)

Processing Plant

• Processing plant site geotechnical investigation underway – foundation drilling and tests completed as at December 2017

Demonstration Plant Test Work

• Demonstration plant test work complete
• Confirms flow sheet will deliver technical and economic outcomes achieved in the DFS
• Validation of copper & cyanide resin circuits
• Replication of pyrite concentrate quality
• Consistent ore feed assays from composite blend sample

Front-End Engineering Design (Feed)

Processing Plant

• Process flow sheet developed to economically recover the minerals remaining in the tailings:
>> Copper sulphate from copper resin loading (RIP)
>> Unroasted iron pyrite from pyrite concentrate in flotation
>> Gold from gold carbon leaching (CIL)

EA Amendment Application

• EA amendment time frame established with DES following assessment level decision and is now expected in May 2018
>> EA Amendment Application to be finalised (DEHP)
>> Moving the processing plant to Sandstone Gully
>> Revised tailings storage facility (TSF) design and size
>> Inclusion of Shepherds Gully tailings resource

Pyrite Offtake

Binding Offtake

• Carbine signs key Chinese offtake with Iking International Ltd
• Carbine appoint pyrite marketing specialist
• Letters of intent received from end users following testwork

 

China Consuming 16MtPa of Pyrite

• Largest consumers account for over 5MtPa initial focus on 3 regional areas; Shandong, Yantze and Southern
• Plants focused on iron fines production (65%Fe) sulphuric acid and power credits

Contact Details

WEBSITE: www.carbineresources.com

EMAIL: tjames@carbineresources.com.au

PHONE: +61 8 6142 0986

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