Name of the Project
Tropicana mine – Boston Shaker underground mine.

Location
Western Australia.

Client
The Tropicana Joint Venture partners, AngloGold Ashanti Australia (70%) and Independence Group (30%).

Project Description
A prefeasibility study (PFS) into the development of an underground mine beneath the Boston Shaker pits at Tropicana has confirmed that underground mining is technically and financially viable.

The PFS envisages an underground mine delivering about one-million tonnes a year of ore to produce 100 000 oz/y over a life-of-mine of about seven years based on mine scheduling of the Boston Shaker underground indicated and inferred mineral resources only. Boston Shaker has 3.1-million tonnes grading 4 g/t of gold in the indicated category and 7.5-million tonnes grading 4.3 g/t in the inferred category. The underground operation will be aligned with the openpit design and schedule, capitalising on process plant improvements delivered in late November 2018 through the successful commissioning of the second ball mill at the Tropicana mine.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
The project will require an estimated capital investment of A$95-million.

Duration
The initial portal development is expected to start from within the completed Tropicana pit in mid-2019. Full production levels should be reached in 2021, with the last stopes currently scheduled to be mined in 2026.

Latest Developments
The JV partners are now progressing a feasibility, which is expected to be completed in the second half of 2019.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Independence Group, tel +61 9238 8300, fax +61 8 9238 8399 or email contact@igo.com.au.
AngloGold Ashanti, tel + 27 11 637 6000.