Ionic Rare Earths Limited · ASX:IXR
Ionic Rare Earths — Shareholder Meeting (November 2019)
18 slides from Ionic Rare Earths's shareholder meeting presentation, Nov 27, 2019
Slide 1: Oro Verde Limited Market Presentation - Makuutu Rare Earth Project
November 2019 Makuutu Project Area ORO VERDE LIMITED (ASX: OVL) MARKET PRESENTATION MAKUUTU RARE EARTH PROJECT - UGANDA 1
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation should be considered in its entirety. If you do not understand the material contained in this presentation, you should consult your professional advisors. The sole purpose of this presentation is to provide shareholders with an update on current acti
Slide 3: Oro Verde Capital Markets Snapshot (ASX:OVL)
Oro Verde Capital Markets Snapshot (ASX:OVL) CAPITAL STRUCTURE (As At 27/11/19) SHARE PRICE (Last 6 months) Shares Outstanding 2,002,578,050 Total Options Outstanding 412,000,000 Share Rights 50,000,000 Share Price A$0.009 Market Capitalisation A$18 million 52 week share price range A$0.001 – A$0.01
Slide 4: Oro Verde – Board & Consulting Team has the Expertise
Oro Verde – Board & Consulting Team has the Expertise M J Steffens Executive Director • Minerals engineer with a PhD in Metallurgy from the WA School of Mines, Member of the AusIMM • 15 years’ experience including areas of project management and process development covering a broad range of mineral
Slide 5: Makuutu Project – A Strategically Important Ionic Clay Hosted Rare Earth Deposit
Makuutu Project – A Strategically Important Ionic Clay Hosted Rare Earth Deposit OVL recently entered into earn-in agreement to acquire up to 60% of the project • Advanced stage exploration project • Strategically significant • Confirmed ionic clay rare earth mineralisation, akin to Chinese ionic cl
Slide 6: Oro Verde – Company Strategy
Oro Verde – Company Strategy Corporate Objective • To systematically de-risk, develop and advance the Makuutu Rare Earth Project up the value curve by leveraging: • In-country expertise of project partner • REE expertise of technical team Strategy – For success a Rare Earth Project needs: • High gra
Slide 7: Makuutu Project - Opportunity
Makuutu Project - Opportunity • To define a resource with critical and heavy rare earths source outside of China • Strategically and geopolitically significant • Convert large exploration target to JORC resource • Near-surface mineralisation • Exploration target of 270 - 530 million tonnes grading 0
Slide 8: Makuutu Project – Advanced-Stage Exploration Project
Makuutu Project – Advanced-Stage Exploration Project • Rwenzori Rare Metals Ltd. (RRM, Ugandan) holds 100% of the Makuutu Rare Earth Project • Oro Verde – 20% currently (earning up to 60%) • Rare Earth Elements Africa (REEA) (68%) • Ugandan Partners (12%) • Project development to proceed in a phased
Slide 9: Makuutu Project – Infrastructure
Makuutu Project – Infrastructure Logistics • Approximately 10 km from Highway 109, connecting to Kampala and to Kenya (Port of Mombasa) • Approximately 20 km from rail line connecting to Mombasa port Power • ~800 MW of hydroelectric generation capacity within 80 km of Makuutu main area • Nearby elec
Slide 10: Makuutu Project - Geology
Makuutu Project - Geology Soil and Laterite 0 to 2-5m • Geology similar to the southern China ionic clay-type deposits • Confirmed ionic clay mineralisation • currently the cheapest and most readily accessible heavy REO source • Thick intersections of Rare Earth mineralisation near-surface Clays • R
Slide 11: Makuutu Project – 2019 Drilling Program
Makuutu Project – 2019 Drilling Program • Initial 750 m core drilling program complete • Program objectives • Provision of in-fill data (RL 1693) • Exploratory drilling (EL 1766) • Samples for metallurgical testing • Evaluation of widow sampler rig • Results demonstrate thick intercepts of high rare
Slide 12: Makuutu Project – 2019 Drilling Program Results (part)
Makuutu Project – 2019 Drilling Program Results (part) Drilling Highlights • Selected high grade TREO intercepts: • RRMDD004: 4.2 metres @ 1,649 ppm TREO from 5.62 metres • RRMDD013: 2.0 metres @ 1,330 ppm TREO from 5.35 metres • RRMDD006: 4.0 metres @ 1,298 ppm TREO from 3.50 metres • Selected thic
Slide 13: Makuutu Project - Metallurgy
Makuutu Project - Metallurgy Mine Water ORE PREPERATION / • Rare earth recovery by simple mining and processing SCRUBBING methods • Simple processing route for ionic clay mineralisation Reagent/ Salt DESORPTION / LEACH • Mining – scrubbing – leaching – precipitation • Leaching is a desorption proces
Slide 14: Makuutu Project – Ionic Clay REE vs. Hard Rock REE Projects
Makuutu Project – Ionic Clay REE vs. Hard Rock REE Projects • Sale of rare earth concentrate mine product to processing refinery – avoid high CAPEX plant • Practical project advantages associated with ionic clay projects, which are summarized in the following table: MINING/PROCESSING STAGES CLAY-HOS
Slide 15: Peer Comparison – Ore Value vs Basket Price
Peer Comparison – Ore Value vs Basket Price Makuutu Project Aspirational Target REO product basket value is higher value than in-situ REO basket value: - preferential recovery of high-value REOs • Source: Airguide / Industry Reports / Company Presentations 15
Slide 16: Target Pathway to Development
Target Pathway to Development COMPLETED COMPLETE BY Re-assay of selected historical samples confirms presence of Rare Earths Rudimentary metallurgy confirms presence of ionic-clay hosted REEs Initial Core Drilling Program Phase 1 Metallurgical Testing underway Q4, 2019 Phase 2 Core Drilling Program
Slide 17: Summary
Summary • Ionic clay hosted Rare Earth Element project, with large exploration target • Strategically and geopolitically significant critical metals • Simple mining and processing • Potential to produce high value basket REE product • Potential to be player in critical metals sphere • Team in place
Slide 18: Oro Verde Limited
November 2019 Oro Verde Limited Level 1, 34 Colin St. West Perth WA 6005 Phone: +61 (0) 8 9481 2555 Email: info@oroverde.com.au 18
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