KOZA GOLD COMPANY
OCTOBER 2006
TURKEY
2
KOZA GOLD OPERATIONS
A- OPERATIONSA- OPERATIONS OVACIK GOLD MINEOVACIK GOLD MINE (200,000 ons/yr Gold Productions)(200,000 ons/yr Gold Productions)
B- PROJECTSB- PROJECTS• MASTRA GOLD MINEMASTRA GOLD MINE (150.000 ons/yr Gold Productions)(150.000 ons/yr Gold Productions)• KUCUKDERE OPEN PITKUCUKDERE OPEN PIT (80.000 ons/yr Gold Productions)(80.000 ons/yr Gold Productions)
C- FUTURE PROJECTSC- FUTURE PROJECTS• KAYMAZ GOLD MINEKAYMAZ GOLD MINE (248.000 ons total resource)(248.000 ons total resource)• GICIK PROJECTGICIK PROJECT
D-SUBSIDARYD-SUBSIDARY• OZDEMIR ANTIMONY MINEOZDEMIR ANTIMONY MINE
3
KOZA GOLD EXPLORATIONS
TURKEY
• OVACIK REGION
• WESTERN TURKEY
• CENTRAL & EASTERN TURKEY
ABROAD
• GHANA (WESTERN REGION)
4
TOTAL LICENCES
KOZA GOLD TOTAL LICENCES
Number of Licences Total Hectares
WESTERN TURKEY
EXPLORATION 39 48448,71
OPERATION 3 11021,63
EXPLORATION (OVACIK) 8 9527,53
OPERATION (OVACIK) 4 47720,77
TOTAL 54 116718,64
CENTRAL TURKEY
EXPLORATION 12 12022,88
OPERATION 4 16099,60
TOTAL 16 28122,48
EASTERN TURKEY
EXPLORATION 13 4457,28
OPERATION 1 3536,81
EXPLORATION (MASTRA) 10 7272,78
OPERATION (MASTRA) 3 6771,50
TOTAL 27 22038,37
TOTAL
TOTAL 97 166879,49
5
KAYMAZ
MASTRA
KÜÇÜKDERE
OVACIK
Kozagold Operations and Projects
GICIK
6
OVACIK FLOW SHEET
7
ENVIRONMENTAL MANAGEMENT
BG22
31
4
5
BG3
BG1
GK 7 S/D
GK 8 S/D
GK 9 S/D
GK 4
GK 5
GK 6
Decant Tower
Tailings Pond
Process Plant
Environmental Monitoring Locations
Particulate dust monitoring
Precipitated dust monitoring
HCN gas monitoring
Noise monitoring
Blast monitoring
Cyanide sampling locations
Tailings pond sampling locations
Underground water monitoring wells
Weather Station
N
8
ENVIRONMENTAL MANAGEMENT
Rehabilitation works
Plantations of olive and pine nut trees
Good quality - olive oil
Co-existence of Gold mining activities
and olive plantations.
9
LEGAL AND PERMITTING STATUS
OVACIK GOLD MINE
Mine operates since May 2005 after renewal of all necessary permits.
There are three main ongoing cases in Admin Courts of Izmir and in Supreme Court in Ankara.
These are related to the below permits:
Environmental Impact Assessment
Continuous Operation Permit
Land Zone Permit
MASTRA GOLD PROJECT
Environmental Impact Assessment is ongoing
Negotiations on land purchases
KÜÇÜKDERE OPEN PIT
Continuous Operation Permit
10
OVACIK GOLD MINE
11
Geology Map of Ovacik Mine
G VEIN
D VEIN
UC
0,2
S VEIN
BACAKLAR
SAKLI
0
kilometres
0,1
DEGISME
DONEK
M VEIN
BUYUK
EXTRA
5066
00 m
E
5065
00 m
E
5063
00 m
E
5064
00 m
E
5067
00 m
E
5068
00 m
E
4325400 mN
5062
00 m
E
5060
00 m
E
5061
00 m
E
4325200 mN
4325300 mN
4325500 mN
4325600 mN
4325700 mN
5059
00 m
E
4325100 mN
SCREE
ALLUVIUM
DOLERITE DYKE
LEGEND
HYDROTHERMAL BRECCIATED QUARTZ-ADULARIA VEINS
PORPHYRITIC BIOTITE ANDESITE WITH POLYMICTIC XENOLITHS
INTERBEDDED TUFFACEUS SILTSTONE AND SANDSTONE
ANDESITIC BRECCIA
ANDESITIC DEBRIS FLOW
FAULT ZONE
BACAKLAR
12
Ovacık Total Resource
Stockpiles include ore in Measured, Low Grade in Indicated Resource
13
Ovacık Reserve Summary-Dec 2005
14
OPEN PIT-STAGE 4 PIT
STAGE -4 PIT DIZAYN
15
Ovacık Mine Ore Production
16
Ore Milled vs Ore Mined
DECEMBER 31st 2004-DECEMBER 31st 2005
17
Mastra Resource and Block Model
MASTRA PROJECT
18
Mastra Resource
19
Mastra Project
Environmental baseline study completedEIA Reports study continue with SRKLayout and Earth work Conceptually designed.Ovacik flow sheet modification continue with SGS.Mine designs completed by AMC.
20
KUCUKDERE PROJECTKucukdere Block model and Resource
21
-Kucukdere blok model done by AMC and cut off 3 g/t Au
Kucukdere Resource
KUCUKDERE RESOURCE- DECEMBER 2005
Tonnes Au (g/t) Au ozs
Kucukdere 1.406.000 4.92 223.000
22
Kucukdere Open pits
23
Kaymaz Block Model and Resource
KAYMAZ PROJECT
24
- Kaymaz blok model done by TUPRAG and cut off 3 g/t Au
Kaymaz Resource
KAYMAZ RESOURCE- DECEMBER 2005
Tonnes Au (g/t) Au ozs
KAYMAZ 1.169.00 6,6 248.050
25
TOTAL RESOURCE AND RESERVE
26
EXPLORATIONS
1-Ovacık1-Ovacık Regional Explorations Regional Explorations
2-2-Western Turkey ExplorationsWestern Turkey Explorations
3-3-Central Turkey ExplorationsCentral Turkey Explorations
4-4-Eastern Turkey ExplorationsEastern Turkey Explorations
5-Ghana Explorations5-Ghana Explorations
27
OVACIK REGIONAL
Gelin T epeGelin T epeGelin T epeGelin T epeGelin T epeGelin T epeGelin T epeGelin T epeGelin T epe
File T epeFile T epeFile T epeFile T epeFile T epeFile T epeFile T epeFile T epeFile T epe
Uyuzkaya T epeUyuzkaya T epeUyuzkaya T epeUyuzkaya T epeUyuzkaya T epeUyuzkaya T epeUyuzkaya T epeUyuzkaya T epeUyuzkaya T epe
Dede T epeDede T epeDede T epeDede T epeDede T epeDede T epeDede T epeDede T epeDede T epe
Narlı caNarlı caNarlı caNarlı caNarlı caNarlı caNarlı caNarlı caNarlı ca
KüçükmağaraKüçükmağaraKüçükmağaraKüçükmağaraKüçükmağaraKüçükmağaraKüçükmağaraKüçükmağaraKüçükmağara
KaplanKaplanKaplanKaplanKaplanKaplanKaplanKaplanKaplan
Maden EtrafıMaden EtrafıMaden EtrafıMaden EtrafıMaden EtrafıMaden EtrafıMaden EtrafıMaden EtrafıMaden Etrafı
Kı zı lçukurKı zı lçukurKı zı lçukurKı zı lçukurKı zı lçukurKı zı lçukurKı zı lçukurKı zı lçukurKı zı lçukur
Çam T epeÇam T epeÇam T epeÇam T epeÇam T epeÇam T epeÇam T epeÇam T epeÇam T epe(Neogene)
Granodiorite + diorite(Neogene - Palaeogene)
Rhyolite + dac ite(Neogene)
Sandstone + s il ts tone
Andes ite + porphyrite
(Neogene)
Basalt + doleri te(Neogene)
Schis t + gneiss(Palaeozoic)
Çalı şma Alanı
Fay
(Quaternary)Alluvium + col luvium
AÇIKLAMA
(Mesozoic)
Limestone(Mesozoic)
Flysch
1.M Vein West
2.Narlica
3.Dedetepe
4.Kucukmagara
5.Fila Tepe
6.Uyuzkaya Tepe
7.Gelin Tepe
8.Kapikaya
9.Kaplan
28
WESTERN TURKEY
1-KARADAG ANOMALY
High Sulphidation, in addition to extensive silisification Au bearing stockworks and barite and sulphide-bearings veins are present
2-KIRCA ANOMALY
Low Sulphidation/Sedimant Hosted, carried out extensive sampling within the licence and collected 14 BLEGs, 32 stream sediment and 91 rock samples – the latter returning values up to 5.3ppm Au
3-KIZILCUKUR ANOMALY
Low Sulphidation, On the south , strong Au, Ag, Sb, Pb, Zn results indicating higher level of epithermal system, rockchip samples are highly anomalous in the range 0,5 to 8.0 g/t
4-KUCUKDERE
Low Sulphidation/High Sulphidation
29
KARADAĞ
KIRCAKÜÇÜKDERE
OVACIK ETRAFI
ÇOBANLAR
İZMİR-MERKEZ
KIZILÇUKUR
CANAKKALE
BURSA
BALIKESIR
MANISA
IZMIR
RUHSAT ALANLARI
WESTERN TURKEY
LICENCED AREAS
30
CENTRAL TURKEY
1-KAYMAZ PROSPECT
Epithermal system Several phases of silicification and brecciation. Signification gold grades of up to 6 g/t.
2-SOGUT ANOMALY
Carlin Style Mineralizations Extensive old Au workings where mineralisations appear to be associated with quartz-calcite veinlets penetrating limestone, or with quartz-clay-limonite schists stockworked by calcite veinlets,or earthy-limonitic clay,yielding gold values in the range 0.5 to 22 g/t
3-HIMMET DEDE ANOMALY
Carlin Style Mineralizations Widespread distribution of Au,Sb,As,Hg and W in these anomalies hosted by the limestone close to a major tectonic boundary may represent Carlin-Type Au mineralisation gold values up to 0.9 g/t.
31
YÜKSELEN
KAYMAZ
SÖĞÜT
HİMMETDEDE
GICIK
ANKARAKIRIKKALE
AFYON
AKSARAY
NEVSEHIR
NIGDE
KIRSEHIR
KONYA
YOZGATESKISEHIR
RUHSAT ALANLARI
Central Turkey
LICENCED AREAS
32
EASTERN TURKEY
1-MASTRA WEST
Low Sulphidation, Extension of 2 major quartz veins. from drill hole (MD61) [email protected] g/t Au
2-TORUL PROSPECT
Low Sulphidation, Of the order of 24 grab rockchip samples are highly anomalous in the range 0,5 to 9,4 g/t with 7 samples >4 g/t
3-ERCIS ANOMALY
Porphyry Related, Results are pending.
33
KANGAL
TURHAL
TUNCELİ
ERZİNCAN
AĞRI-HAMUR
VAN-ERCİŞ
MUSBINGOL
ERZURUM
TUNCELI
ERZINCAN
GUMUSHANE
AGRI IGDIR
KARS
ARTVIN
RIZETRABZONGIRESUN
TOKAT
SIVAS
RUHSAT ALANLARI
Eastern Turkey
LICENCED AREAS
34
GHANA EXPLORATIONS
GEOLOGY MAP OF GHANA MAGNETIC MAP OF GHANA
35
GHANA LICENCE AREA
KOZA GOLD
36
Soil Geochem Results
152
Tandokrom
Akontobra
Bokaso
Akontobra
153
Asu
aba
5165
00 m
E51
6500
mE
668500 mN
668000 mN
667500 mN
667000 mN
666500 mN
666000 mN
665500 mN
665000 mN
5155
00 m
E
5160
00 m
E51
6000
mE
5155
00 m
E
5150
00 m
E51
5000
mE
5145
00 m
E
5140
00 m
E
5145
00 m
E
5140
00 m
E
5135
00 m
E51
3500
mE
5130
00 m
E
5125
00 m
E
5130
00 m
E
5115
00 m
E
5110
00 m
E
5115
00 m
E
669000 mN 669000 mN
664500 mN
668500 mN
5125
00 m
E
5120
00 m
E51
2000
mE
5110
00 m
E
5100
00 m
E51
0000
mE
5105
00 m
E51
0500
mE
668000 mN
667500 mN
667000 mN
666500 mN
666000 mN
665500 mN
665000 mN
Akontobra_soils_2005 by Au_ppb_
100 to 1,200 (43)90 to 100 (10)80 to 90 (10)70 to 80 (15)60 to 70 (20)50 to 60 (30)40 to 50 (51)30 to 40 (80)20 to 30 (141)10 to 20 (196)0 to 10 (67)
LEGEND - Geology of GhanaLEGEND - Geology of GhanaLEGEND - Geology of GhanaLEGEND - Geology of GhanaLEGEND - Geology of GhanaLEGEND - Geology of GhanaLEGEND - Geology of GhanaLEGEND - Geology of GhanaLEGEND - Geology of Ghana
Lower Birimian
Cape Coast Suite GranitoidsBiotite and muscovite bearing granite, granodiorite, pegmatite and aplite
Biotite and/or muscovite bearing granite, granodiorite, pegmatite and aplite
Tarkwa Phyllite
Phyllite and chloritoid phyllite with subsidiary arenaceous beds
Huni Sandstone
Kawere Series
CAPE COAST GRANITE COMPLEX
Granite, biotite and muscovite granite, granodiorite, pegmatitie, aplite; with biotite schist pendants
Sedimentary cover
Sandstones, quartzites , grits and immature polymictic conglomerate
Upper Birimian
Gabbro and diorite (possibly of Dixcove Suite affinity)
Intrusives
Banket Series
Quartzites , grits / mature quartzose oligomictic conglomerates
Basic to intermediate metavolcanics , volcaniclastics , greywackes and phyllites
Phyllites , schists , tuffs and greywackes
Dixcove Suite Granitoids
Hornblende bearing granite, granodirite, monzonite, porphyry, diorite and aplite
GRANITE
Undifferentiated granites
Scale: 1: 25 000Scale: 1: 25 000Scale: 1: 25 000Scale: 1: 25 000Scale: 1: 25 000Scale: 1: 25 000Scale: 1: 25 000Scale: 1: 25 000Scale: 1: 25 000
fault
fault
fault
fault
fault
fault
fault
fault
fault
37
CONCEPTUAL 10 YEARS LIFE OF MINE
38
FINANCIAL STATISTICS
Financial Statistics based on Conceptual LOM
. Financial Data
Average Gold Price $ 600.00
Average Cash Cost $ 264.98
Total Cash Costs $ 632,296,080
Gold production oz 2,386,228
. Revenue $ 1,431,736,553
. Free Cashflow $ 664,740,473
. NPV of Free cashflow $ 420,548,622
39
CONCEPTUAL 10 YEARS LOM BY YEAR
Operations LOM
40
OPERATIONS CONCEPTUAL 10 YEARS LOM
Operations LOM
41
TOTAL CONTAINED OUNCES
TOTAL CONTAINED OUNCES
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
Ounce
s
OVACIK KUCUKDERE NARLICA ZAFER GELINTEPE KAPIKAYA KAYMAZ MASTRA MASTRA WEST TORUL
TORUL 8,038 16,075 24,113 24,113
MASTRA WEST 5,626 22,506 33,758 33,758 22,506
MASTRA 27,470 60,417 137,936 146,230 69,463 40,515 5,623
KAYMAZ 8,488 53,049 53,049 42,439 21,219
KAPIKAYA 48,226 72,339 96,452 120,565 120,565 120,565
GELINTEPE 11,092 11,092
ZAFER 22,506 45,011 90,022 90,022 90,022 78,769 78,769 67,517 45,011
NARLICA 21,528
KUCUKDERE 52,457 65,764 93,008
OVACIK 180,603 52,711 7,532
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
42
REVENUE&OPEX&CAPEX
Sales Revenue, Opex and Capex
$(20)
$30
$80
$130
$180
US$
Mill
ions
Sales Opex Capex Exploration
Sales $102 $100 $101 $181 $165 $170 $175 $168 $151 $120
Opex $39 $56 $50 $71 $56 $72 $78 $79 $72 $58
Capex $21 $36 $6 $16 $22 $2 $1 $1 $1 $1
Exploration $3 $3 $3 $3 $3 $3 $3 $3 $3 $3
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
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