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INVESTMENT PRESENTATION

Expanding production, growing resources and unlocking value

Expanding production, growing resources and unlocking value

Cleveland Mining Company Ltd is an Australian managed, ASX listed minerals company squarely focused on developing projects into mines.

The company’s management team have a track record for building successful projects from the ground up, providing Cleveland with the expertise to secure and build robust projects.

Mining and production are underway at the Premier Gold Mine located in Crixás, in central Brazil. The company is also working to expand production developing the Lavra prospect, within the O Capitão Project, less than 10km away.

Cleveland has a different approach to project selection with project economics driving target selection. Projects are chosen according to their likelihood of generating returns at the bottom of the economic cycle.

>> VIEW CLEVELAND MINING ASX ANNOUNCEMENTS

Cleveland Mining Managing Director David Mendelawitz discusses benefits of investing. 

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Premier Gold Project

Highlights

  • Mining and processing started in late 2012;

  • Target operating C1 costs of ≈$400 per ounce;

  • ≈76koz Indicated Resource delineated, mineralisation open in all directions;

  • Excellent near-mine exploration potential;

  • Premier abuts the 7+ million ounce AngloGold Ashanti Serra Grande Mine.

Project Overview

Mining and processing began at Cleveland’s 50:50 JV Premier Mine in late 2012, just over 3 years after the Company acquired the project. Formerly known as Meia Petaca, the project was explored and mined by the Goias state government over 30 years ago.

Since acquiring the project, Cleveland has delineated a resource of 76koz and constructed a processing plant capable of producing between 10 and 20 thousand ounces per annum. The plant design allows for rapid expansion to match any growth in the rate of mining and the size of the resource.

Premier is located approximately 800m from AngloGold Ashanti’s Serra Grande Mine, from where over 4+ million ounces have already been mined, a further 3.3 million ounces remain, and significant gold discoveries continue to be made. Cleveland believes that the Premier tenements also hold excellent potential for further multi-million ounce deposits. Cleveland intends to increase the resource through near-mine drilling as well as exploration of the O Capitão Project, where two high grade gold-bearing orebodies have been identified.

Cleveland targets operating C1 costs of about $400 per ounce. According to reports released to the TSX by AngloGold Ashanti, the first 17 years of production at Serra Grande had costs of less than $200/oz. In 2001, 134koz of gold were mined from Serra Grande at a cash cost of US$767/oz.

The most advanced project in the Crixás Hub, the Premier Project, is targeting 40,000 ounces of gold per annum. As significant exploration potential exists both at Premier and at Cleveland’s other projects, the plant at the Premier Gold Mine has been designed for expansion. 

The Premier Mine is expected to provide the Cleveland with a strong foundation for growth, providing the Company with both cashflow and an opportunity to build the teams, experience, systems, culture and track-record of success that will lead to bigger projects.

>> FIND OUT MORE ABOUT CLEVELAND MINING'S PREMIERE GOLD PROJECT

O Capitão Gold Project

Highlights

  • Less than 10km from the Premier Gold Mine;

  • The company is applying for two Utilisation Guides, which would allow Cleveland to mine at O Capitão’s Prospects, Lavra and Dona Maria, and process the ore at Premier;

  • Multiple stacked lodes identified with significant high grade intercepts;

  • High grade material at surface and readily available for mining;

  • Approximate 95% of O Capitão area is largely devoid of drilling or sampling;

  • Seven conceptual targets have been identified outside the Lavra and Dona Maria prospects, of which only one has been drill tested, and this target is tested to a very minimal standard. Drill intersections include 2.9m @ 14.88 g/t Au and 1m @ 8.50 g/t Au;

  • Good drilling intersections remain to be closed off and the extent and tenor of intersected mineralisation quantified;

  • O Capitão lacks systematic, empirical geochemical coverage which would help prioritise target ranking, probably identify additional targets, and more precisely identify the surface expression of primary mineralisation, thus permitting more effectively drill targeting.

Project Overview

O Capitão is a 3.2km² tenement north-west of Cleveland’s Premier tenement.  A confused ownership status, as well as garimpo tailings, has until now stopped major companies from modernizing the project.  Cleveland has overcome these barriers and is positioned to be the first professional mining company to build a mine at the highly sought after location.

The infrastructure available to O Capitão is good.  Sealed roads and gravel tracks link the site to the town of Crixás, which is 4km away as the crow flies and 10km from the Premier Mine processing plant.

The site was originally drilled in the 1980’s by Serra Grande Mineração and, after significant gold-bearing intercepts were made, an application for mining was lodged.  That company was unable to continue its work due to the presence of garimpeiros (artisanal miners).  As many as 6000 garimpeiros worked at O Capitão throughout the ‘80’s until the town they established was abandoned after an outbreak of yellow fever.

The garimpeiros were working on a seam that outcropped and gently dipped down to about 40m.  Wall rock highlights of this seam are up to 6m thick with over 20 g/t Au.  The garimpeiros also dug around 300 shafts across the property, where the prospective geology can be seen outcropping extensively.  Ore has been extracted as deep as 80m from several shafts next to the main pit.  Garimpo mining is now illegal in Brazil.

>> FIND OUT MORE ABOUT  O CAPITÃO GOLD PROJECT

Cleveland Mining Managing Director David Mendelawitz discusses benefits of investing. 

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DAVID MENDELAWITZ

Managing Director - Cleveland Mining

David Mendelawitz has extensive international experience in exploration, mining and commerce.  His most recent role, prior to founding Cleveland, was as Head of Business Improvement at Fortescue Metals Group Ltd., in which he drove projects in iron ore exploration, project construction, mine and infrastructure optimisation and expansion planning.

 

During his 5 ½ years at Fortescue, David was initially the Exploration Manager for Eastern Tenements, overseeing field works which were part of the delineation of 2.8 billion tonnes of iron ore in 1 year.  He then became the Registered Manager of Mining during the trial mining operations as part of the $140 million feasibility study conducted over the project.

 

David has a track-record for success both as a geologist and in the corporate aspects of large minerals projects,as extensive experience in the underground and open pit mining and exploration across Australia, Papua New Guinea and the USA.

 

David was a founding director of venture capital and business advisory firm M Capital.

VIDEO INTERVIEW

 

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Expanding production, growing resources and unlocking value

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AUDIO INTERVIEWS

 

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Financing Update

 

Cleveland signs a Memorandum of Understanding with a large US based mining focused fund to provide a Gold Pre-pay Agreement of US$25 million.

 

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Potential at Premier significantly increases

 

A hole has been drilled which has confirmed an expansion of the prospective area for mineralisation close to surface.

 

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Cleveland Mining Managing Director David Mendelawitz discusses benefits of investing. 

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