MUNDO MINERALS LIMITED
MUN - Latin America eConference - John Langford, CEO
Fri, 26 Sep 2008 11:00AM
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MUNDO MINERALS LIMITED (MUN)
ASX code: MUN
Website: http://www.mundominerals.com
Industry: Materials
Principal Activities:
Gold exploration, development and production.
Address:
, West Perth, 45 Ventnor Avenue,
West Perth
WA
Phone: (08) 9429 8894
Fax: (08) 9429 8800
Executives & Directors
Mr John Langford , CEO
Mr Michael Schmulian , Executive Director
Mr Barry Eldridge , Non Exec. Director
Mr Brian Hurley , Non Exec. Director
Mr Robert KcKenzie , Non Exec. Director
Mr Andrew Law , Chief Op. Officer
Mr Joe Mobilia , CFO
Mr Joe Mobilia , Company Secretary
Mr Paul Mason , Joint Co. Secretary
Company Podcasts
Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
MUNDO MINERALS LIMITED (MUN) Events
Australia/NSW
MUNDO MINERALS LIMITED (MUN)
| Director Retirement | Tue, 30 Jun 2009 |
| Issue of Employee Options | Tue, 30 Jun 2009 |
| Issue of Employee Options | Mon, 15 Jun 2009 |
| Crista Drilling Update | Tue, 9 Jun 2009 |
| Open Briefing CEO on Corporate Production Plans | Tue, 9 Jun 2009 |
| Exercise of Employee Options | Tue, 2 Jun 2009 |
| BBY Resources Conference Presentation | Thu, 28 May 2009 |
| Operations and Production Growth | Mon, 25 May 2009 |
| Change in substantial holding from AGP | Thu, 21 May 2009 |
| Cancellation of Employee Options | Thu, 21 May 2009 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
LATIN AMERICA ECONFERENCE - JOHN LANGFORD, CEO, MUNDO MINERALS LIMITED (MUN)
http://www.brr.com.au/event/51681
FRIDAY, SEPTEMBER 26, 2008 11:00AM
MUN Thank you very much for the opportunity to present the credentials of Mundo Minerals at this forum at the South American Regional Countries. I guess
10 Mundo Minerals was established to develop a number of production methods focused on gold in South America. We have a strategy where we are using predominantly very experienced local management team. We have full -- assets full of which we believe have significant production potential. Mundo Minerals has three projects in Brazil. We have one in Peru. I guess I will take
15 the opportunity during this presentation to focus very much on this full project and then finalise by summing up with respective how we see the outlook for the company. The projects that we have in Brazil, of course, Engenho, Jaqueira and Tocantins, and our project in Peru is called Torrecillas. We ventured these projects on an individual basis and just give a small flavour
20 with respect to where the projects are and how we see the potential of those projects as well as a timeframe that we will anticipate getting these projects into production. Our first project is called the Engenho gold project. It is located in Brazil, located within the Iron Quadrangle which is the largest resource region in Brazil. It has the major iron projects and the major gold
25 projects in Brazil. Engenho has a current resource of around 1.5 million tonnes of 5.5 grams per tonne. We have developed the project and we commenced production in July 2008. Engenho is a project that we have iron treatment facility on and we are developing the project by underground mining for a decline. Project in recent times announced a very small
30 production hiccup. We are mining some more in the open pit wall over what we are developing the decline down to access the major ore body. Just to expand that briefly, when we bought the asset, we board it off and rebuild Chianti. We had put a very small open pit over the ore body twice in the ore body out to test the size of the ore body before they sell this. And when they
35 close the ore mine, they lifted a very small portion of ore in the open pit wall and we targeted production from that generating cash flow to sub sparse the mine ore, we are developing the decline. When we access part of that ore body that was interpreted having a high-grade core, unless you found that the high-grade core was not high grade and was uneconomic. The result of that
40 is we lost 8000 ounces of our production. Just to put that in perspective, that is 8000 ounces out of 326,000 ounces or 2%. However, the impact of that was at the front end of that production profile and is making an impact on our cash flow. I guess to support the company’s outlook and confidence issue well deserved and match your shareholder and went to civic group inject $4
45 million into the company, which is a short in cash flow, which is up now. It focuses very much on developing the decline. We hope to go back into full production and anticipate being back in full production by the end of November. As part of our review, we are conducting a complete order of our resource that will be completed in the next week. At the present moment, we are not seeing any negative issues coming from that order today. From the Engenho core project’s perspective, the outlook is looking very positive. The decline is developing well. It is ahead of schedule. Ground conditions are great. The plant is operating well and we are getting over 95%, a recovery
5 from the gold. So once we get into full production by the end of November, we want to spread Engenho will deliver to its expectations. In addition to the existing ore body, we have excellent exploration potential around Engenho and we recently announced some interesting results from a couple of anomalies we found within (full chrometre readies of the Engenho ore body.
10 There are anomalies in there. There is (inaudible) (0:04:07). You can get of our ASX side and have a look at those results. But I guess the key focus with respect to the outlook for Engenho and those targets are that the current production profile, our annualised basis from Engenho is 34,000 ounces of gold a year. We anticipate within the next 30 months to two years
15 that we should be able to increase that production profile towards an excess of 60,000 ounces with respect to our expectations from the potential of those anomalies. We will start drilling those anomalies within 2009. I want to just talk to you about the other projects if I can. We have a project in Peru. That project is called Torrecillas. Torrecillas is a narrow vein, very high grade gold
20 asset that we are currently assessing, the veins there between 30 centimetres and 10 metres in which that the grade is generally in excess of 30 grams per tonne. We do not believe that the right way to assess this project is by conducting a joint program because the widths of the ore body main that we need to get there highly great confidence in the degree of
25 mineralisation. They are currently putting a decline down to access the old veins. We have identified an excess of 6.5 chrome of fine structure and we are developing a 4 x 4.5 to meet the decline down so that we can develop along the veins and open out to mineralisation. First, the moment the decline has accessed the Torrecillas frame and we are now only about a week
30 away from accessing a couple of the other veins at the east. The anticipated program over the next 12 months is to complete the development along the veins and conduct the full feasibility study. Interestingly enough, we will also be producing a small amount of revenue from this project assessment, because that is what we are developing along the vein structure. We are at
35 the (inaudible) (0:06:08) mineralise gold and that core is an opportunity for us to send some of that ore off into treatment facility. It has two benefits. The first one, it produces a small cash flow and I guess, we will hope within the next 6 months the Torrecillas (inaudible) (0:06:22) and it also provides us some valuable treatment data and meteorological data with respect to the
40 feasibility study. We present the first ore last week for treatment. That ore grade fit in 0.5 grams per tonne and we will expect a review from that in the next couple of weeks. And meteorologically, the ore from Torrecillas gives a better 90% to 92% recovery so we anticipate that production from Torrecillas wants it from further the feasibility study would hopefully kick in early in
45 2011 with a production rate of around 50,000 ounces of gold per annum. And we are hoping to get an ore grade of 10 grams, 15, grams and 20 gram per tonne. So this should be a very highly profitable gold project and we have a high degree of confidence. We have a third project, the project in Brazil. It is known was Jaqueira. Jaqueira is another very high-grade target that we have. It has a potential targeted tonnage between 400,000 and 500,000 tonnes and I will anticipate the grade is between 10 grams and 12 grams per tonne. The tenement we have has not been previously drilled. It has had underground workings developed by prior operators. We have been able to test the
5 underground workings and take trace samples from the mineral zones. We have been able to properly and strategically identify our targets and we would anticipate start throughout Jaqueira, it will be in 2009 as well. Expectation from Jaqueira is we would hope that we will be able to develop our resource in about eight to nine months time. And we will hope to get
10 Jaqueira in production before the end of 2011. Probably they are around 40,000 to 45,000 ounces per annum. As I said, the grade we are anticipating is in excess of 10 grams per tonne. So again, it should be highly profitable project. The project I want to talk about in time I have is Tocantins Joint Venture. This is also in Brazil. It is a large track of land. We have 256
15 hectares of tenements there. We have the ability to end up to 80% interest in any resource that we find on that tenement. It is an exploration project. We had some interesting resource from one of the tenements called (conflict) zone. And we are currently undertaking that data review. And we would hope that develops into an open pit resource. We have a number of other targets
20 there we are currently assessing and anticipate commencing and (joining) back in Tocantins in the next couple of months. Anticipation from the Tocantins Joint Venture is that because it is a large greenstone belt (inaudible) (0:09:1) fund in Western Australia with the (much) as the acreage we have there. We would hope by that time to develop 94 5 mid-size in gold
25 projects. There is always a mid-size gold project which has been between 400,000 and 500,000 ounces of gold and between 6 grams and 8 grams per tonne. That is a very brief review of that four projects. We are very, very busy with a very dedicated team operating in South America. In South America, we have in excess of 230 people working for us, led by a very capable
30 management team. All of our senior technical people are headed in Brazil and Peru. They all have about 20 years experience in operating in the country and working with the qualities in which they are delivering for us and the commitment to the company is exceptional. We are in a very strong position to develop the very best production profile. Our view is in the median term.
35 We would like to develop that production profile to -- in excess of 200,000 ounces of gold per annum. We believe we have the assets. We believe we have a cash flow emerging from Engenho that will assist us in developing those assets. And we have a very committed management team. I would like to thank Boardroom Radio for the opportunity for us to present the credentials
40 of Mundo Minerals.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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