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The next company present this afternoon is the gray mining for those of you who have been under a bush and not been aware. The gray in four years has taken its Hebi gold discovery from 0 to 10 million ounces and it sits within a 12 ounce global resource within the Pilbara region of western Australia. It's the most significant greenfields gold discovery in Australia in the last 30 years. My opinion, the equity funding is complete and the debt financing is pending. Hemi is a 550,000 ounce plus Brennan producer and it's in the final stretch towards construction start with an update today on the project status. Please welcome to the Denver Goal Conference managing director Glenn Jardine. Thanks very much Chris for that introduction. I just want to make people aware of the disclaimers at the start of the presentation. I'll be making some forward looking statements. And first of all, I'd just like to acknowledge the traditional custodians of the land on which we work. We've got a 150 kilometer long tenement package. It's about 100 kilometers north south. So I've got a few groups that we work with the key group for us is the Garra people who have the the claim over the Hemi area. And we've had a mining agreement with the Garra for approximately two years now. Corporate overview, I think apart from the market cap there of just under $3 billion Australian, you know, the key piece there is the cash position which is over $850 million and that's off the back of two capital raisings that we've completed in the last financial year, $300 million in September and $600 million in in May. It's quite a strong institutional register. Another Australian listed company, Gold Road is a major shareholder with 17.3%. OK. In terms of the strategy of the company, it's quite clear, this strategy has been the same for the last four years and that is to bring the hemi project in production as a tier one asset in the tier one jurisdiction. Part of that is to deliver on the implementation plan of the key, the development and construction phase of that project. We're going to continue with exploration very similar to, to Wayne in our uses of cash forecast. We've got around 100 and $30 million Australian to be spent over the next three years. It will become very clear to you why we're keen on doing that. And the other thing we need to do is to, can you continue to grow the organizational capability of the business to be able to deliver and execute on this project? So, in terms of where we are, unusually for a, a large gold project in Western Australia, we're in the Pilbara, surrounded by iron ore and lithium mines. The discovery of Hemi has completely flipped people's views of the potential for gold discoveries in that part of the world. Just to put things into perspective, We put out a maiden resource of just under 7 million ounces in 2021 and that resource had grown at the rate of around 500,000 ounces per month. The style of mineralization we have there is a large intrusion in a series of them and clearly finding one of these has the potential for us to increase our resource base really quickly in terms of Gold Endowment, 25,000 ounces per vertical meter, basically unheard of and that comes into play a little bit later and I'll talk about underground potential. The cost of discovering those ounces is around $10 Australian per ounce. And we've completed around 1 million m of drilling into the Hemi project to deliver high confidence resources and reserves. So we will be one of the largest operating gold mines in Australia. And you know, our strategy is to deliver maximum shareholder returns and move from trading at a discount to NAV now to trading on multiples of EBITDA. So resource growth. This is the picture here, pretty consistent, you know, 1 million ounce a year growth from the maiden discovery. And then, you know, last year we, we did the BFS on the June resources of 11.7 million ounces. And we discovered another million ounces in a six month period to November. We'll be putting out another mineral resource estimate in November this year. And clearly the expectations are that we'll grow above 12.7 million ounces in total of which hem accounts for 10.5. So you may have seen this slide recently, but this slide shows the rarity of large-scale discoveries over the years going back to 1990. Hemi clearly sits in the bubble of you know, greater than 7.5 million ounce discoveries and there's not many of them about. So it's a, it's a tier one asset, it's in a tier one jurisdiction and, and they're becoming rarer. So let's go to the DFS outcomes because last year, this hadn't been completed when we presented. So in terms of the physicals, we've got for an open pit, 100 and 20 million tons at 1.5 g. We're looking at 10 million ton a year, nameplate, throughput. The reserve is 6 million ounces at 1.5 g. So good grade for an open pit. And the annual production for the first five years is just over 550,000 ounces a year. including a ramp up and then for the 1st 10 years, 530,000 ounces a year. The reserve contribution to that production profile is 99%. So that's the level of confidence that we've got in terms of the metrics. And you can have a look at some of these, but all in sustaining costs under 1300 Aussie per ounce. We were very disciplined around our pit shell optimizations in the DFS. The pitch L optimizations have done it at about 2200 Aussie per ounce. And the payback period is just under two years at $2700 an ounce. In terms of undisc free cash flow at today's gold price, you can add another $6 billion to that number. So that would be 12 billion over 12 years. And on a post tax basis with 30% tax, you can add another 4 billion to that 4.5 million, sorry, 4.5 billion. So that's how good this project is. The payback period is driven by one of our deposits called Bolger and it's starter pit. So the starter pit there are about 250 m deep, 300 m wide and 600 m long. It's got just over 1.3 million ounces in it. And a strip ratio of just over 2 to 1 operating costs of between 809 $100. Australian per ounce generates $2.2 billion at 2700. Again, you can add another 1.1 billion to that. And that is why the payback period is so quick. So we're not doing any financial gymnastics. It's purely based on physicals. The other thing is in terms of where we are, we've got all the infrastructure we need. So we're not having to pay for infrastructure costs in our Capex. And it really does reduce the complexity of the project. We're surrounded by highways, gas pipelines, grid power, we've got as much water as we need on site. And there's large scale renewable projects coming on stream up there as well. Ok. But wait, there's more. So the the orange bars, there are the DFS production schedule. Ok. So the 1st 10 years is your 530,000 ounces a year, I think in July or August, we put out a regional scoping study into the plus 2 million ounce resource. We've got regionally and we added another 140,000 ounces to that production profile. Basically what we're looking at there is operate hemi for two years generate cash flow through that. And with that cash flow, commit to around 200 million Aussie for a regional project do that in year three. And we'd be in a position to be producing around 700,000 ounces a year from year four, year five and year six. At the back end there in the Blue Bars is a pit cut back that we designed at the Eagle Deposit. And that was based on that updated resource that we did in November last year. And that added another 700,000 ounces to the production profile. Ok? I'll talk about underground. We're in the, in the middle of an underground conceptual study. At the moment when you put the hemi pits into wind, it goes for just around 6.5 kilometers. We've got a lot of drilling down to around 400 m which is where the the pits currently stop at 2200 Aussie per ounce. But you've got 25,000 ounces per vertical meter. So you don't get a deposit of that scale over six hun six kilometers long and 400 m deep and it just stops because that's where the drill bit stops. So the prize is some percentage of 25,000 ounces per vertical meter at a typical vertical mining rate of 50 vertical meters a year. So the price is 1.25 million ounces a year in terms of global resource. And it's a matter of how much of that might convert to a reserve in production Then we've got exploration upside and I mentioned before that we're spending around 30 million a year on this. We're targeting plus will 1 million ounce resources preferably similar intrusion scale intrusion style mineralization to hemi. And that's where we're really focusing. And this is some of the smoke around hemi that we've got you know, six at 320 at 1.2 and eight at 4.7 in different areas around Hemi. And we'll just be continuing to follow those up over the next couple of years. Ok. In terms of where we're at, and what we've done since last year, this is a bit of a race track on what we've done. the capital raisings I've mentioned we had a, a mining lease granted in September last year on the back of the agreement that we did with the Garra people. And then most recently we have been progressing the debt funding for the project. So we received credit approved terms in May there for $1 billion from the Syndic of banks in, in Australia and overseas very competitive process. And then in August this year, a group called the Northern Australia Infrastructure Fund, which is a federal government funded organization agreed to a $150 million loan as part of that $1 billion of of debt funding. So, moving to documentation now on that funding and you know what we're we're looking at is, you know, our current $850 million in equity, the $1 billion in in senior debt facility, we expect that to be capable of fully funding. the capital cost of this project, which is around around 1.3 billion Aussie and also have a significant liquidity buffer on top of that. And that summarizes the the debt financing process just in terms of current activities. I won't go into the financing anymore in terms of approvals. the to agreements in place. We've got the mining lease and we're current, currently going through the final stages of environmental approvals. We've had two bank due diligence exercises so far. No red flags, no high risks and that was the same with the Northern Australia Infrastructure Fund. We've recently taken a lease over some tenements just to the south of us. That lease includes a whole lot of road access to those main highways, access to water and also a recently refurbished 200 person can. Other activities that are well underway is front end engineering. So we're about 30% through that. We have awarded the contract for the permanent camp. We've just put out a tender for the plant construction. We'll put out a tender for the mining contract later this month and in terms of organizational capability. Not only are we building up the capability in the project team, but we're also building up the capability across the rest of the organization so that we've got the business systems and the people to be able to execute the project and also bring it into production. Part of that has been the appointment of our general manager operations already. And a focus is going to be operational readiness to make sure when the project team hands over the the project, the operating team is ready to go and the commissioning period is as short as possible. Part of our de risking has been ordering long lead items. So we've ordered most of the the main equipment items for the plant. We've got a nameplate of 10 million ton a year, but where we've had single process flow items like the primary crusher and the HPGR, we've ordered them at a 15 million ton a year throughput rate so that it makes upgrading this plant from 10 to 15 million tons a year really easy. We've got two ball mills, we'll have two water claves. So adding a third to each of those would, would easily get us to nameplate 15. There's a bit of the mills being manufactured now in Germany. This is the the sub lease that we took out over the Mount Dov area. It's 10-K to the South of Heme and it comes with a whole lot of infrastructure and a 200 person camp that's just been refurbished. So, in terms of operational readiness, you know, the key thing to ensuring success apart from exe executing the project is to make sure that that commissioning and ramp up period goes really well. So we've brought forward things that, you know, may previously have been done in a couple of years time. So we're doing basically, you know, grade control drilling on the first year or so at BRGE, we're going through a whole lot of very detailed network on that beyond what we did for the DF SI mentioned, the commercial systems and the business teams were putting in place and the appointment of our GM ops. So just in terms of you know, summarizing where we're at, you know, it's really clear that there's a lot of upside here in terms of where we're trading at at the moment. Is it at a discount to NAV? And then moving to trading on multiples of EBITA, which as as you've seen, you know, are really impressive in line with, you know, the tier one quality of this asset. We've done a lot of work in terms of bringing the right people on board directly working for us who've had pox experience, who've had large construction project experience into the project team. We've built up the project team to a really good point. We're continuing to explore with the purpose of not only just finding additional resources, but as a, as you've seen from that production histogram, we wanna make sure that we're finding resources that can convert into production. The other thing you know we've talked about already is, is just continuing to grow the organization and getting sales ready for for commissioning and production. So thanks Chris, thanks Glenn for that ex exciting presentation. We've got a couple of minutes. So I shall ask the floor. If there are any questions, please put your hand up and Mike will find its way to you while that's happening. Glenn, can you just quickly highlight the approval requirements you need from both the state and the federal level? Yeah. So we're running parallel environmental approvals processes. We're in the later stages of that. So our original submissions went in in May and June last year, we got the levels of assessment we were expecting from those organizations. Those levels of assessment allowed those organizations to ask for additional information. So they did that and we have you know, completed whatever studies and test work were required to allow us to put in res submissions. So for the federal department that resubmission went in in early August and our expectation is that the state submission will go in in mid October and it's at that point in time that we'll sit down with the regulators and work out an agreed timeline to final approvals and we should be able to update the market on what that looks like in our September quarterly report. Mhm. So come the end of the year, you could be in a position where you're fully funded in terms of equity and debt and just waiting on these final approvals to come have a timeline or horizon to you know, final approvals. So yeah, significantly derisk from a technical commercial and then approvals perspective leading into what will be a federal election year 2025. Yeah, glad one for me. Some people say that you should get that first and then the equity you went the other way around. Do you think that's improved your ability to not have to take out hedges and other things and you're gonna get a better deal from the banks? Yeah, that's a really good point. You've got one minute Glenn, thank you. It, it's, it's interesting these things that happen when you don't necessarily factor them in. but you know, Peter Canterbury's obviously done a great job over the last couple of years in, in engagement with the banks. And when we got that equity, the debt funding process with the banks was so much smoother, you know, they're, they're not getting nervous around. Can this company raise the equity for this project? And to your point,, we're hopeful that we'll have a situation where we don't have to,, have compulsory hedging and if we did any, it would be at our election. Thank you very much, Glenn.