Empire Resources Limited · ASX:ERL
Empire Resources — Shareholder Meeting (November 2019)
22 slides from Empire Resources's shareholder meeting presentation, Nov 13, 2019
Slide 1: Focussed on Building Value - 2019 Annual General Meeting Presentation
For personal use only Empire Resources Limited Focussed on Building Value 2019 Annual General Meeting Presentation 13 November 2019
Slide 2: Disclaimer
Disclaimer For personal use only This presentation is for information purposes only. This presentation has been prepared by Empire Resources Limited (“Empire” or the “Company”) and contains general background information about Empire’s activities as at the date of this presentation (“Information”).
Slide 3: 2019 Highlights
2019 Highlights For personal use only 1 • Sale of Penny’s Find Gold Mine ➢ $600,000 in 3 equal staged payments (1 st payment received) ➢ 5% Net Smelter Royalty for first 50,000oz, 2.5% thereafter 2 • Strategic investment in NTM Gold (ASX:NTM) ➢ $1.5M investment @ $0.0325/share ➢ Current investment v
Slide 4: Investor Dashboard
Investor Dashboard For personal use only Capital Structure (Current) Share Price Performance Share Price $ 0.010 FPO Shares Outstanding m 621.81 Cash & Tradeables (Unaudited) $m 3.20 Debt & Other Liabilities* $m 1.80 Market Capitalisation $m 6.22 *Includes $1.5M unsecured loan refer ASX:ERL announce
Slide 5: Rights Issue
Rights Issue For personal use only • Non-renounceable 2 for 5 rights offer ➢ 248,725,875 shares @ $0.008 to raise $1,989,807 • Underwritten to $712,000 ➢ Sub-underwriter Dr Michael Ruane • Offer opens 14 November, closes 5 December 2019 • Use of funds ➢ Repay in part loan facility ➢ Project explorat
Slide 6: Rights Issue
Rights Issue For personal use only Funds Available Minimum Full Subscription Subscription ($757,745) ($1,989,807) Cash on hand at 24 October 2019 $515,000 $515,000 Funds raised under the Offer $757,745 $1,989,807 Total funds available $1,272,745 $2,504,807 Use of Funds Amount Amount Repay part of Lo
Slide 7: Project Locations
Project Locations For personal use only • +220km2 of tenements • Penny’s (Au) – 23.9km2 ➢ 45km NE of Kalgoorlie ➢ 26km to Kanowna Gold Mine • Yuinmery (Cu-Au) – 84.5km2 ➢ 370km NE of Perth ➢ 7km to Youanmi Mine Site • Barloweerie (Zn-Pb-Ag-Au) ➢ 112km2 application ➢ 150km West of Cue 7
Slide 8: Penny's Gold Project
Penny’s Gold Project For personal use only • 23.9km2 tenement package within Eastern Goldfields • Empire mined 138,272 tonnes @ 4.47g/t Au for 18,356oz 1 • Mining Tenement M27/156 sold to Orminex (ASX:ONX) ➢ $600,000 in 3 equal staged payments (1 st payment received) ➢ 5% Net Smelter Royalty for fir
Slide 9: Penny's Gold Project - Penny's Central
Penny’s Gold Project For personal use only Penny’s Central • Targeting structurally controlled and supergene gold mineralisation • Priority area, 2km of strike ➢ Gold in soil anomalism (max 180ppb Au) ➢ Gold anomalism coincident with N to NW trending structures, similar to Penny’s Find gold mine • F
Slide 10: Penny's Gold Project - Penny's North
Penny’s Gold Project For personal use only Penny’s North • Targeting structurally controlled and supergene gold mineralisation • Priority area, 2km of strike ➢ Gold in soil anomalism (max 231ppb Au) ➢ Gold anomalism coincident with interpreted NE structures • Potential for paleochannel gold minerali
Slide 11: Yuinmery
Yuinmery For personal use only • 84.5km2 tenement package (including Evolution acquisition1) • Polymetallic VMS and orogenic gold styles of mineralisation • Just Desserts JORC Resource - 2.5Mt @ 1.3% Cu & 0.5g/t Au • +110,000m of historical drilling and +10,000 geochemical samples compiled for the f
Slide 12: Yuinmery South
Yuinmery For personal use only Yuinmery South • Southern Syncline ➢ >2km strike of high priority multi-element geochemical anomalism ➢ Just Desserts extensions? • Gold Targets ➢ Targeting high grade quartz- sulphide ore shoots within subsidiary structures linked to the Youanmi shear zone ➢ Geochemic
Slide 13: Yuinmery North
Yuinmery For personal use only Yuinmery North • Gold ➢ Targeting high grade quartz- sulphide ore shoots within secondary structures linked to the Yuinmery shear zone ➢ Coincident geochemical anomalism on granite- greenstone boundary • Base Metals ➢ Multi-element geochemical anomalism within volcanic
Slide 14: Yuinmery - Just Desserts
Yuinmery – Just Desserts For personal use only 14
Slide 15: Yuinmery - Just Desserts
Yuinmery – Just Desserts For personal use only • JORC 2012 Compliant Resource 2.5Mt @ 1.3% Cu & 0.5g/t Au • Initial Metallurgy Results1 ➢ 95% Cu & 85% Au recovery to 8-10% Cu rougher concentrate ➢ 85-93% Cu recovery to ~15% Cu cleaner concentrate • Preliminary Mining Studies2 ➢ Demonstrate potential
Slide 16: Barloweerie
Barloweerie For personal use only • 112km2 tenement in application ➢ Approval pending Heritage Protection Agreement (HPA) • VMS style mineralisation ➢ Multiple historical Zn-Pb-Ag-Au targets • Historical shallow RAB drilling at Sandford prospects ➢ 5m @ 4.8% Zn, 1.6% Pb & 55g/t Ag from 38m ➢ 20m @ 6
Slide 17: Barloweerie - Sanford
Barloweerie For personal use only • Sanford 1 ➢ 5m @ 4.8% Zn, 1.6% Pb & 55g/t Ag ➢ 21m @ 82.5g/t Ag, including: ➢ 5m @ 1.2% Pb, ➢ 10m @ 0.7% Zn and 1m @ 1.8% Zn ➢ 9m @ 2.1% Zn & 77.0g/t Ag • Sanford 2 ➢ 2m @ 3.6g/t Au, 62.0g/t Ag, 1.5% Zn & 1.5% Pb ➢ 0.3m @ 12.1g/t Au & 100.0g/t Ag ➢ 57.0g/t Au & 64
Slide 18: Barloweerie
Barloweerie For personal use only • Barloweerie ➢ 2.7g/t Au & 417ppm Cu rock chip ➢ 1.8g/t Au & 260ppm Cu rock chip ➢ 8m @ 0.4g/t Au & 262ppm Cu from 28m • South Barloweerie ➢ 1m @ 1,012ppm Cu & 100ppm Pb from 84m ➢ 1m @ 0.5g/t Au, 172ppm Cu & 155ppm Zn from 84m Source: Open file WAMEX open file rep
Slide 19: Investments
Investments For personal use only NTM Gold Limited (ASX:NTM) • Strategic investment 1 ➢ $1.5M for 8.7% post completion ➢ Valued at $2.8M @ $0.060/share • Highly prospective landholding2 ➢ Existing 538koz JORC Resource ➢ 1.38Moz to 2.24Moz Exploration Target (including Resource) • Efficient and effec
Slide 20: Summary
Summary For personal use only • Excellent package of projects ➢ Multi-commodity: Au, Cu-Au & Zn-Pb-Ag-Au ➢ Advanced exploration: Greenfields through to existing JORC Resources • Investment approach to exploration ➢ Systematic approach to exploration and evaluation ➢ Alignment to Empire’s strategic o
Slide 21: Appendix I - Just Desserts Copper-Gold Resource April 2016
Appendix I For personal use only 1 Just Desserts Copper-Gold Resource April 2016 JORC Resource to depth of 170m at 0.5% Cu lower cut off Indicated Inferred Total Weathering Tonnes Cu% Au g/t Ag g/t Tonnes Cu% Au g/t Ag g/t Tonnes Cu% Au g/t Ag g/t Partial 97,000 1.05 0.30 0.98 65,000 1.43 0.18 2.21
Slide 22: Appendix II - Competent Person Statements
Appendix II For personal use only Competent Person Statements The information is this presentation concerning the Mineral Resources for the Just Desserts/Trajan Deposit have been estimated by Mr Peter Ball BSc who is a director of DataGeo Geological Consultants and is a member of the Australasian In
Empire Resources — Shareholder Meeting (November 2019) on 6ix