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 Figure 4.4 Lord Nelson and Lord Henry Geology The Lord Nelson deposit is hosted by a zone of intermixed high-magnesium basalt and granodiorite above a footwall ultramafic unit. A central and an east lode have been defined. Both zones trend north-north-west, dip approximately -50º to the west and plunge to the south. The central zone is located mainly in the supergene zone horizon. The east lode is a zone of pyrite-silica-biotite-quartz veining that follows the ultramafic footwall contact. Gold mineralisation at Lord Henry is dominated by veining. Wall rock alteration is strong but with little pyrite. The Lord Henry deposit is hosted by granodiorite bound to the south and west by a sheared ultramafic contact, forming part of the Trafalgar shear. Mineralisation comprises a series of stacked lodes that dip 20º to 30º to the north characterised by quartz-sericite-chlorite-pyrite alteration. The overall trend of the mineralised zones is north-east with a defined length of 400 m. High-grade gold intersections are associated with sulphide-rich quartz veins and stringers. The Two Mile Hill deposit is hosted in a late-stage, near vertical intrusive tonalitic stock which cuts the local stratigraphy of mafic volcanics and BIF (Figure 4.5). The stock is about 220 m long and 70 m wide and is pervasively altered with sericite, silica and carbonate and contains variable amounts of disseminated pyrite. It also contains an open-sheeted system of quartz veins varying from
BDO CORPORATE FINANCE (WA) PTY LTD Polymetals Mining Limited and Southern Cross Goldfields Limited Technical Specialist's Report Figure 4.5 Two Mile Hill Geology Gold mineralisation has been intersected in the tonalite continuously from surface to a vertical depth of over 400 m in diamond drillholes. The tonalite has been intersected over a strike length of 220 m and an average width of 70 m. Gold mineralisation in the tonalite stock remains open at depth and along strike. A small tonnage of higher-grade gold mineralisation (average 9.9 g/t Au in the Mineral Resource) occurs in BIF at Two Mile Hill. 4.2.2 Mineral Resources Mineral Resources are reported for Lord Nelson, Lord Henry and Two Mile Hill (Table 4.6). All of these Mineral Resources have been mined in open pits to some extent. Mineral Resources are also reported for a number of small deposits reported collectively, some of which are remnants around previously mined pits. These deposits are: • Havilah • Bulk Oak Reefs 45
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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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The Adjusted Mt Boppy Model was pre
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2013 2014 2015 2016 2017 2018 Gold
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AMC and management of PLY advise th
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Mt Boppy Case 2 Mt Boppy Project Ca
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Mt Boppy Case 2 Sensitivity analysi
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Polymetals Mining Limited Value of
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projects. PLY has discounted the to
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The Merged Entity - SXG Low Preferr
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Note f: Minority discount Following
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12. Is the Transaction fair In asse
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As set out in section 12, the Trans
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15. Sources of information This rep
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esponsible for conducting appropria
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Meadowhead Meadowhead Indemnity The
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APPENDIX 2 - VALUATION METHODOLOGIE
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APPENDIX 3 - DISCOUNT RATES SXG We
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Having regard to the above we consi
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Merged Entity Determining the corre
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associated (relative to the compara
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APPENDIX 4 - TECHNICAL SPECIALIST V
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