TRO - TriAusMin Limited

[Diddlysquatz]

Mailman, it doesn't look like too many people are following this company right now. Volume and price has been picking up nicely. I think it looks pretty cheap.

 

[springhill]

Issued Capital 201m shares
Exchange Listings TSX:TOR ASX:TRO
MC CDN$26 million AUD$21 million
Share Price CDN$0.13 AUD$0.105
Cash CDN$2.0 million AUD$2.0 million
Debt Nil
Options Outstanding 8.7 million (exercise price A$0.10-1.54 )
TSX investors 75% ASX investors 25%

Woodlawn Property
• 3 Key Projects:‐
Woodlawn Tailings Retreatment
Woodlawn Underground
Woodlawn Regional Exploration
• 530 km² land position
• Resources and Reserves
• Numerous base metal prospects
• Woodlawn Strategy:‐
Develop Tailings Retreatment Project
Re‐open Woodlawn Underground Mine
Discover New Deposits

Woodlawn Tailings Retreatment Project
• Near term production and cash flow
• Feasibility Study & Front End Engineering Design complete
• 33% IRR on invested capital
• Proven hydraulic mining method
• Standard sulfide flotation processing
• Established infrastructure – water, power, access
• Community support

Project Overview (Business Case March 2012)
Mineral Reserves: 11.2 Mt @ 2.2% Zn, 1.3% Pb, 0.5% Cu, 31 g/t Ag, 0.3 g/t Au
Mining: 4,300 tonnes per day (1.5 Mtpa)
Mine Life: 7.5 years
Av. Annual Production: Cu: 14,000tpa @ 22% Cu
Pb: 15,000tpa @ 35% Pb
Zn: 49,000tpa @ 45% Zn
(tonnes of concentrate)
Development Capital: $92.8 million including a $5.6 million contingency
Site Operating Costs: $22 per tonne processed
Total NSR Revenue: $586 million
Pre- Tax Net Cash Flow: $199 million
Pre-Tax NPV10: $81 million
C1 Unit Cost: $0.12/lb payable zinc (post by-product credits)
Pre-Tax Project IRR: 33%

CAPEX
Direct $64.8M
Indirect $18.1M
Contingency $ 5.6M
TSF4 + Mining $ 4.3M
SITE OPEX
Mining 8%
Reagents 46%
Labour 15%
Power 16%
Other 15%

Woodlawn Underground Mining Project
Historical Production:
• 1978 to 1998
• 13.8 Mt @ 9.1% Zn, 3.6% Pb, 1.6% Cu, 74 g/t Ag & 0.52 g/t Au
• Closure 1998 – low metal prices & Denehurst corporate issues

Current Resource:
Measured + Indicated
8.6 Mt @ 10.3% Zn, 4.0% Pb, 1.8% Cu, 84 g/t Ag & 0.5 g/t Au
Inferred
1.5 Mt @ 9.6% Zn, 4.1% Pb, 1.7% Cu, 87 g/t Ag & 0.6 g/t Au
In-Situ Metal
Zn Pb Cu Ag Au
Zn -1.03Mt Pb -0.41Mt Cu -0.18Mt Ag -27Moz. Au -167koz.
• Evaluating mineability of current resources
• Evaluation of high grade mineralisation below existing resources in Q1 2012
• Potential for SIGNIFICANT NEW MNE









Lewis Ponds Property
• 164 km² property located 200 km west of Sydney
• Positive Q4 2011 drill results
• Numerous untested exploration targets

6.6 Mt Resource
In-Situ Metal
349 Mlb Zn
203 Mlb Pb
29 Mlb Cu
14.6 Moz. Ag
0.32 Moz. Au

Overflow Project
• Located in established regional mineral belt
• Hosted small past producing base & precious metal mine
• Significant gold results to date
5.6m @ 7.3 g/t Au, 10.9% Zn, 5.5% Pb from 185m
3.5m @ 7.2 g/t Au from 18.5m
4.0m @ 2.5 g/t Au from 4m
• Recent VTEM survey – identified new exploration targets

 

[springhill]

TRIAUSMIN RECEIVES FURTHER HIGH GRADE COPPER RESULTS AT WOODLAWN AND A NEW REGIONAL PROSPECT DELIVERS HIGH GRADE SAMPLES

TriAusMin announce that the recently completed drilling program at Woodlawn has returned a further high grade copper intercept of 4.0 metres at 3.07% copper from the J lens in diamond drill hole WLTD012.
In addition, the Company has received high grade results (2.89g/t gold, 97g/t silver and 9.34% zinc) from rock
samples taken from a new Woodlawn regional prospect.

During production from 1978 to 1998, the Woodlawn open pit and underground mine produced approximately 13.4 million tonnes of high grade zinc, lead and copper ore from a number of separate, fault-bounded massive sulfide zones mined to a maximum depth of 630 metres below surface. A JORC Measured (42% by tonnage) and Indicated (58% by tonnage) Resource1(b) of 8.6 million tonnes grading 10.28% zinc, 4.00% lead, 1.8% copper, 84g/t of silver and 0.5g/t of gold exists within the vicinity of the historic mining operations.

 

[System]

On August 20th, 2014, TriAusMin Limited (TRO) was removed from the ASX's official list following implementation of the scheme of arrangement by which Heron Resources Limited acquired all of the ordinary shares in the Company.