Gold Reserves & Resources
Notes to 30 June 2012 Ore Reserves:
| Cockburn: | Ore Reserve Estimate by Snowden, 2012, estimated from a pit optimisation at A$1,350/oz gold price with subsequent pit design, based on the whole block grades from a multiple-indicator kriging (MIK) resource model created by Coffey Mining, 2011. A mining ore loss of 5% has been applied. |
| Corboys: | Ore Reserve Estimate by Intermine, 2010, based on an inverse distance squared (ID2) resource model and pit optimisation at A$1,300/oz gold price with subsequent pit design. Factors of 10% mining dilution and 90% mining recovery were applied. |
| Challenger: | Ore Reserve Estimate by Navigator, 2012, based on an ordinary kriging (OK) resource model and pit optimisation at A$1,250/oz gold price with subsequent pit design. Factors of 10% mining dilution and 95% mining recovery were applied. |
Notes to 30 June 2012 Mineral Resources:
| * | Mineral Resource Estimate by Coffey, 2011, within an A$2,000/oz optimised pit shell and depleted for mining to 30 June 2012 |
| ** | Mineral Resource Estimate by Navigator, 2010. |
| *** | Mineral Resource Estimate by Navigator, 2012. (Note: Challenger Pit depleted by Navigator for mining to 30 June 2012). |
| **** | Mineral Resource Estimate by Coffey, 2006, and reported, 2011, beneath an A$2,000/oz optimised pit shell and depleted for the Calista underground workings. |
Notes to 30 June 2012 Mineral Resources:
| * | Mineral Resource Estimate by McDonald Speijers, 2009 with Merton’s Reward depleted by McDonald Speijers in 2010. |
| ** | Mineral Resource Estimate by Runge Limited, 2009 with Bruno Grade Control depleted by Runge in 2010. |
| *** | Mineral Resource Estimate by Navigator, 2009. |
| Other | Assay top cuts for Mertondale and Raeside are variable but
generally between 10-20g/t Au and are 15g/t Au at Cardinia with no
top cuts at Black Chief and Gambier Lass. No allowance has
been made for dilution or ore loss. All Mineral Resource
Estimates (except Black Chief and Gambier Lass) are constrained by
open pit shells optimised at A$2,000/oz. |
Rare Earth Metals
| * | Mineral Resource Estimates by H&S Consultants Pty Ltd 2012. |
| ** | COG = cutoff grade; TREO = Total rare earth oxides including yttrium; Mt = Million tonnes; kt = kilotonnes. Significant figures quoted do not imply an added level of precision and are used to avoid round-off errors. |