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