Contact Us

Australia

Registered Office and Postal address

C/- McCullough Robertson

11/66 Eagle St,

Brisbane, QLD. 4000

Telephone: 0427 401198
Facsimile: 07 33993172

Website: http://www.sihayogold.com

Email: sihayogold@sihayogold.com

Indonesia

The Convergence Indonesia 20th Floor

Jalan Epicentrum Boulevard Raya

Kawasan Epicentrum
Jakarta 12960 Indonesia

Telephone: +62 21 2988 0399
Facsimile: +62 21 2988 0427

Sihayo Pungkut (75% owned)

We are pleased to announce the Sihayo Open Pit Reserve, Life Of Mine and conclusion of our current feasibility study

Highlights

  • 1.4M Oz Mineral Resource (previously announced June 2013) completed by H&SC Consultants Pty Ltd

  • 554K Oz Sihayo Ore Reserve estimate (in-Situ) and Life of Mine plan prepared by Entech Pty Ltd

  • Mineral Resources & Ore Reserves reported in accordance with the JORC Code 2012 edition and guidelines for the reporting of Mineral Resource Estimates and Ore Reserves

  • 428K Oz recovered from 'Sihayo Life of Mine' (LOM) gold production from proposed open pit mining, includes 35K Oz recovered from Inferred Mineral Resources

  • 7.8Mt ore mined at 2.4g/t average grade and 3.4:1 (Waste:Ore) strip ratio over 10 year LOM

  • Processing rate of 750ktpa at an average recovery of 71% delivers approximately 43K Oz/yr over the LOM

  • Average Site Cash Operating Costs US$775/oz1 (assumes diesel fuel power supply)

  • Construction Capital Estimate US$58.7M equates to US137/oz recovered (assumes diesel power generation and excludes contingency)

  • US$57.5M LOM NPV8 estimate (Pre Tax & including Royalty) assuming gold price at $1,400/oz

  • Excludes further potential gold production from Sambung and future opportunities from Sihayo

  • Company focussed on activity to obtain permits and approvals required to achieve a Construction permit

Note

1.LOM Average Site Cash Operating Costs do not include a total of US$27.9m to be spent over the full 10 years of Sihayo LOM for tailings storage facility construction