Sunday, May 5, 2013

Master - Gold - Invest in South Australiax - DMITRE

Master - Gold - Invest in South Australiax - DMITREwww.invest.sa.gov.auw . t.sa.gov.au February 2013 GOLD IN SOUTH AUSTRALIA Russia 7.44% Production 9.86% Reserve Australia 10.05% Production 14.59% Reserve United States 8.82% Production 5.91% Reserve China 13.21% Production 3.75% Reserve South Africa 7.07% Production 11.83% Reserve Canada 4.09% Production 1.81% Reserve Indonesia 3.72% Production 5.91% Reserve Uzbekistan 3.25% Production 3.35% Reserve Mexico 3.16% Production 2.76% ReservePapua New Guinea 2.61% Production 2.37% Reserve Chile 1.67% Production 6.70% Reserve Peru 5.58% Production 3.94% Reserve WORLD GOLD PRODUCTION & RESERVES Source: USGS 2011 statistics 2 Brazil 2.05% Production 4.73% Reserve 0 1 2 3 4 5 6 7 8 World Gold Reserve (000’ t) 0 50 100 150 200 250 300 350 400 2011 2010 WorldGold Production (t) GOLD IN AUSTRALIA 3 Australia

accountedforover10%of globalproductionin2011andhas 14.6% of reserves. The Australian gold mining sector has an industry revenue of $14.8bn in 2012. The bulk of Australia’s gold mine production is exported in the form of refined gold. Total value of gold exported(locallyminedgold only) was approximately$11.6 billion(IBIS world 2012). Key export markets include India, the United Kingdom, Thailand,ChinaandSingapore 8,410t EconomicDemonstratedResources(EDR)in2011 NB:InvestinSAwasnotabletoobtainEDRstatisticsforNT,QLD,VICandTASatthetimeofpreparingthisdocument. EDR: 3,570 t, 42% EDR: 2,310 t, 27% EDR: - EDR: - EDR: - EDR: 1,640 t, 12% EDR: - WA 179t,70.47% Other 18t, 7.09% NSW 28t, 11.02% QLD 16t, 6.3% SA 13t, 5.12% 2011 Gold Production in Australia (t) 2011 Gold Exploration Expenditure in Australia (A$m) $709million explorationin2011 254t productionin2011 WA 499m,70.38% NT 73.8m, 10.41% QLD 46.5m, 6.56% NSW 40.3m, 5.68% Other 49.4, 6.97% SA 8m, 1.13% Source:USGS,IBIS,ABS8412.0,GeoscienceAustraliaAustralia’s IdentifiedMineralResourcesTable1,Australian MinesAtlas2011-Gold 勘探支出 GOLD IN SOUTH AUSTRALIA Production South Australia currently has four mines producing gold, seven gold related development projects. In 2011, South Australia produced 13t of gold which accountedfor5.1%ofthenationalproduction(ABS) OPERATING MINES# OPERATOR Location Commenced Olympic Dam (IOCG) BHP Billiton Gawler Craton 1988 Challenger(Au) Kingsgate Consolidated Gawler Craton 2002 Prominent Hill (IOCG) OZMinerals Gawler Craton 2009 Kanmantoo (Cu-Au-Ag) Hillgrove Resources Adelaide Geosyncline 2012 DEVELOPTMENT PROJECTS# OPERATOR Location Bird in Hand (Au) Maximus Resources Adelaide Geosyncline Carrapateena (IOCG) OZ Minerals Gawler Graton Hillside (IOCG) Rex Minerals Adelaide Geosyncline Kalkaroo (Cu-Au-Mo) Havilah Resources/Glencore International AG Curnamona Province Portia (Au) Havilah Curnamona Province Tunkillia(Au-Ag) Minotaur Exploration/Helix Resources Gawler Craton White Dam North (Au) PolymetalsMining Curnamona Province Source: DMITREwebsite, Geo Science Australia # see page 6 for more details, White Dam production completed in 2012 and new exploration has commenced SouthAustraliaGoldMinesandProjects 4 4 GOLD IN SOUTH AUSTRALIA Source: DMITREwebsite, Geo Science Australia #Estimated using ABS data Please refer to DMITRE website for all the 37 gold related prospects SouthAustraliaGoldProspects 4 5 Geology Gold mineralisation is widespread and occurs in most geological provinces of South Australia. Gold in South Australia is obtained from two types of primary deposits - quartz veins (reefs or lodges) and deposits worked mainly for base metalsfromwhichgoldisobtainedasaby-product,e.g.IOCG. Secondary deposits, are derived by physical erosion or solution in groundwater fromprimarydepositsandredepositednearthesource Resource South Australia is home to 27% of Australia’s Economic Demonstrated Resource (EDR) with Olympic Dam the world’s 4th biggest gold resource. (Geoscience Australia2012) Exploration South Australia’s exploration expenditure peaked in 2008 (A$54.1m) and declined afterwards. In 2011, South Australia’s gold exploration expenditure was only A$8m# or 1.13% of the national total. The under-representation in exploration...

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