BUILDING A PROFITABLE
MID-TIER GOLD MINING BUSINESS

Mining giant BHP
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BHP warns of turbulence – collect anyway?

Mining giant BHP (NYSE:BHP) has released its third-quarter results. The results were mixed, but the full-year guidance remains intact. However, there are signs of turbulence in the coming months. The market acknowledged the uncertainties yesterday with a slight minus. Today was another -2.3% down to AU$38.35. Should investors keep their distance here or add more? BHP is one of the

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Quarterly Report July – September 2015

Quarterly Report July – September 2015 Key Points Corporate : Cash and Gold in Transit at 30 September 2015 amounting to approximately $23 million; Return of Capital to all shareholders of $0.005 (half a cent) per share completed, totalling approximately $5.7 million; Strategic Review announced following approaches from various parties expressing an interest in asset transactions and other strategic initiatives.

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Quarterly Report April – June 2015

Quarterly Report April – June 2015 Key Points HENTY: Gold production for the year totalled 50,450 ounces – ahead of revised full year production guidance of 50,000 ounces. Gold production for the quarter ended 30 June 2015 totalled 10,419 ounces Cash cost per ounce for the quarter was $AUD 967/oz (full year to 30 June 2015 of $AUD 870/oz). “All

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Quarterly Report January – March 2015

Quarterly Report January – March 2015 Key Points HENTY: Continued strong operational performance from Henty with quarterly production of 15,829 oz gold at a cash operating cost of $650/oz and AISC of $656/oz –  continuing to deliver well ahead of plan Head grade increased to 8.3 g/t (5.6 g/t gold in December Qtr) DARGUES: Planning modification submitted- public exhibition period

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Quarterly Report October – December 2014

Quarterly Report October – December 2014 Key Points HENTY: Sustained strong operational performance from Henty with quarterly production of 11,370oz gold at a cash operating cost of $968/oz and AISC of $986/oz – continuing to deliver significantly ahead of plan DARGUES: Preparation for submission of planning modification nearing completion CORPORATE: Continued cash build with $12.3M cash at bank – above

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Quarterly Report July – September 2014

Quarterly Report July – September 2014 Key Points HENTY: Continued strong operational performance at Henty with quarterly production of 12,832 oz gold at a cash operating cost of $976/oz – considerably ahead of plan DARGUES: Technical studies of alternate processing options nearing completion with results expected in December quarter Summary Andrew McIlwain, Managing Director & CEO comment “As we flagged

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Quarterly Report April – June 2014

Quarterly Report April – June 2014 Key Points HENTY: 11,983 oz of gold produced at a cash operating cost of $988/oz FY14 full-year production result of 38,067 oz gold, within recent guidance range Drill testing for continuation of high grade Darwin South orebody to commence in July DARGUES: Technical studies assessing a range of processing options underway Summary Andrew McIlwain,

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Quarterly Report January – March 2014

Quarterly Report January – March 2014 Key Points HENTY: Quarterly production of 7250 oz at a cash cost of $1380/oz Read Zone drilling results include 0.4 m at 394 g/t and 1 m at 115 g/t gold DARGUES: Technical studies and cost reduction programs continuing Near-mine & regional exploration programs underway looking for analogues to Dargues mineralisation $7.9M cash at

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Quarterly Report October – December 2013

Quarterly Report October – December 2013 Key Points HENTY: Quarterly production of 7227 oz gold at a cash cost of $1498/oz Exploration drilling continued to extend Darwin South Zone; results include 2.05 m at 23.6 g/t and 0.9 m at 20.0 g/t gold Drilling within the envelope of the Read Zone continues to yield high grade intercepts; results include 1.4

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Quarterly Report July – September 2013

Quarterly Report July – September 2013 Key Points HENTY: Quarterly production of 11,607 oz gold at cash cost of $1065/oz Exploration drilling has extended Darwin South mineralisation; results include 8.35 m at 19.4 g/t and 6.2 m at 14.8 g/t Drilling also continued to identify high grade zones within the envelope of the Read Zone DARGUES: Access road complete; mining