Update on Merger with Polymetals - Notice of Meeting

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BDO CORPORATE FINANCE (WA) PTY LTD Polymetals Mining Limited and Southern Cross Goldfields Limited Technical Specialist's Report Expected Value Method An Expected Value valuation can be applied where there is sufficient information to enable an indicative NPV calculation, which takes into account the costs of that ongoing exploration and with a probability/risk factor for the chances of that exploration being successful. This method is most relevant when the exploration area is closely associated with an existing mining operation or development project where a production scenario has been developed. 4
BDO CORPORATE FINANCE (WA) PTY LTD Polymetals Mining Limited and Southern Cross Goldfields Limited Technical Specialist's Report 3 POLYMETALS MINING LIMITED 3.1 Mt Boppy Gold Project 3.1.1 Introduction The Mt Boppy Gold Mine Project (Mt Boppy) is located in the Lachlan Fold Belt centred around Canbelego, located 46 km east of Cobar in New South Wales (Figure 3.1). The region has produced in excess of 5 Moz of gold. Figure 3.1 Mt Boppy Project Location Note: MLA281 is now ML1681 Mt Boppy itself has historical production of 490 koz gold in the period since 1901. Polymetals acquired the mine in 1993 and operated an open pit and processing operation on the site between 2002 and 2005. A total of 500 kt of ore was treated through the existing treatment plant. The plant has been on care and maintenance since 2005. Polymetals has identified additional Mineral Resources around and below the existing open pit and has developed a plan to mine a cutback on the open pit. The ore which is predominantly fresh will be treated in the existing treatment plant following an upgrade to the flowsheet. AMC conducted a site visit to Mt Boppy in April 2013. A formal feasibility document has not yet been developed for the Mt Boppy project. AMC understands that the majority of the design and analytical work required has been completed, however, the lack of documentation adds a level of risk to the project with possible consequential approvals and financing delays. The mine and plant are located on mining leases and gold leases that are surrounded by exploration licence EL 5852 also held by Polymetals. The deposit was discovered in 1896 and mined by underground methods up to 1923. Exploration was conducted up to the 1960s and exploration drilling by Polymetals since 2003 5
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ASX ANNOUNCEMENT / MEDIA RELEASE Fr
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ABN 71 124 374 321 U16,162 Colin St
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3. Access to the cash reserves of P
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Disclaimer and Important Notice •
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SXG - Well Placed • • •
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SXG and PLY - Key Merger Metrics
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Indicative Merger Timetable •
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A Diversified Portfolio of Australi
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Marda Project • Rare greenfields
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Northern Gold Corridor Targets - Dr
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WA Gold Assets - Turner River • P
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Mt Boppy - A Near-Term Production O
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ASX Code: Investor Presentation J
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Pro Forma Gold Reserve Statement Pr
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ABN 71 124 374 321 U16,162 Colin St
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- 3 - Notice of General Meeting Not
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- 5 - Proxy appointment, voting and
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- 7 - 1.2 Rationale for the Merger
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- 9 - 1.5 Implementation of the Mer
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- 11 - in terms of assets and marke
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- 13 - (a) You may not agree with t
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- 15 - (b) the Technical Specialist
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- 17 - (a) Identity of the person r
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- 19 - (i) Other matters The Direct
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- 21 - The purpose of Resolution 2
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- 23 - Schedule 1 - Information abo
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- 25 - Woodside Energy Ltd and Dire
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- 27 - Stephen Jones (Chief Financi
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- 29 - In accordance with ASIC Clas
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- 31 - million SXG Options which ha
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- 33 - Schedule 2 - Terms & Conditi
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- 35 - the Company out of profits o
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- 37 - Glossary In this Explanatory
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- 39 - Peak Litigation The litigati
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- 41 - Annexure A Refer enclosed In
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Financial Services Guide 21 June 20
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TABLE OF CONTENTS 1. Introduction 1
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2. Summary and Opinion 2.1 Purpose
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The respective advantages and disad
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elieves that there are sufficient r
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Existing SXG PLY Capital structure
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Sandstone Exploration Potential In
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5.3 Historical Balance Sheet Southe
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in tenement acquisition costs also
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The current SXG unlisted options on
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Drew Hill - White Dam Gold Project
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6.4 Historical Statement of Compreh
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At 31 March 2013, PLY have recorded
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Gold Demand/Supply Mined Metric ton
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• On 9 August 2012, Regis Resourc
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eport to be used in our report. At
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eport to be used in our report. At
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Funding assumptions SXG has receive
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AMC modelled two cases for the Mard
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Marda Project Case 2 Units 31-Dec-1
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uildings and water supply. The $38.
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Considering the valuation outcomes
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Southern Cross Goldfields Limited V
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We calculated the corporate costs o
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SXG share price and trading volume
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On 28 February 2013 SXG announced t
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Control Premium The concept of a pr
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We note that SXG’s EV/resource mu
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BDO CORPORATE FINANCE (WA) PTY LTD
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