5. 5
Given the recent softening in gold prices, Crocodile Gold has done an extensive
review of its operations and projects to identify further opportunities
1. Continual Operational Review
• Operating Costs
• Consolidation of shared services in Victoria (SGM & FGM)
• Streamlined management structure at the operations (NT & SGM)
• Capital Expenditures
• Limit capital expenditures to mine development with minimal $ spend on infrastructure
• Redistribution of assets within the group, from SGM to FGM and Cosmo, reducing capital
expenditures (mobile equipment, electrical equipment, etc)
• Assets sale at SGM
• On-going optimization of Cosmo, using experience of SGM & FGM
2. Projects Review
• Exploration drilling limited to on-mine resources conversion; no greenfield
• Moving ahead only on Big Hill project at this time
• Reassessing appropriate timing for UR Prospect and Pine Creek
9. 9
Stawell Gold mine is an underground operation located
alongside the town of Stawell, in central Victoria,
approximately 250 km west of Melbourne. Processing
facilities use standard CIL gold recover and have a capacity
of 1.0MM TPA
Stawell Processing Facility
• Produced 73,000 oz Au in 2012
• Confirmed opportunity to economically treat
historical surface stockpile until mid 2014
• Decision to ramp-down underground mining
activities by mid 2013
Next Steps
• Exploring opportunities within the existing
mining lease
• Engagement with local stakeholders and
community Stawell 2012 Performance
Ore Milled (Tonnes) 850,017
Average Grade (g/t Au) 3.06
Recovery(%) 86.1
Gold Produced (Ounces) 72,602
Gold Sold (Ounces) 74,552
14. 14
• C$34.5 million of unsecured 8% convertible debentures were issued for net proceeds
of C$31 million
• Cash raised will be used to fund Exploration Projects and General Corporate Expenses
• Debentures are trading on the secondary market under the symbol CRK.DB
Debt—Credit Suisse Credit Facility
• Unwound gold swap (hedge) position in
April 2013
• Net proceeds of A$57.8 million were used
to pay off outstanding credit facility
• Remaining A$11.5 million debt to be
repaid in 18 monthly installment of
$630,000 from April 2013 to October 2014
$1,150
$1,200
$1,250
$1,300
$1,350
$1,400
$1,450
$1,500
$1,550
$1,600
Gold Price (AUD)
April 16, 2013: CRK Unwinds Gold Swap