Growing Production at the Seabee Gold Operation
- Santoy 8 Mine achieved commercial production in Q1 2011.
- Higher grade ore being mined at Seabee Deep.
Figure 1: Forecasted Production Profile at the Seabee Gold Operation (as of December 31, 2010)
Improving Margins from Operations
- Santoy 8 Mine unit operating costs expected to be 40% lower than Seabee Deep.
- Seabee Mine shaft deepening expected to be commissioned Q3 2012.
- Enhanced Seabee Mill throughput of 1000 tpd.
Figure 2: Total unit cash costs vs. gold price chart (Seabee Gold Operation)
Growing Resource Base at Seabee, Amisk and Madsen
- 1.30 million ounces of gold at Seabee.
- 1.23 million ounces of gold at Madsen.
- 1.57 million ounces of gold at Amisk.
- Entire resource base National Instrument 43-101 compliant.
- Significant exploration programs underway at all projects.
Figure 3: Resource base as of December 31, 2011
Stronger Gold Price
- Increase in demand for gold bullion and gold backed securities.
- Global gold production is declining.
- Investing in gold can serve as a hedge in an investment portfolio.
Figure 4: Historical gold price chart
