Mindax Limited · ASX:MDX
Mindax — Investor Presentation (December 2011)
24 slides from Mindax's investor presentation, Dec 7, 2011
Slide 1: Mindax Limited Investor Presentation
For personal use only ABN 28 106 866 442 Mindax Limited Investor Presentation Greg Bromley MD December 2011 Mindax Limited (MDX.ASX) www.mindax.com.au
Slide 2: Disclaimer
Disclaimer This presentation was prepared by Mindax Limited (ABN 28 106 866 442) (“MDX” or “the Company”), a public company listed on the Australian For personal use only Securities Exchange. The presentation is based on internal company reports, stock exchange announcements and technical informatio
Slide 3: Project Locations
Project Locations Mindax has an enviable track record in mineral For personal use only exploration having brought two projects from greenfields discovery to resource status since end 2009. • The 100% owned (YilgIron Pty Ltd) Mt Forrest Project is a major iron mineralised system within the Yilgarn Ir
Slide 4: Overview
Mt Forrest ‐ Overview For personal use only Mindax has a world class iron resource base under‐plating the Mt Forrest project. Our focus is on Direct Shipping materials production from the regolith layer in the near term. We have identified a range of DS mineralisations within our growing DS resource
Slide 5: Iron Inventory
Mt Forrest – Iron Inventory For personal use only The Mt Forrest Iron Project is a significant iron mineralised system with an estimated Inventory of 2.6 to 2.8 billion tonnes of primary iron mineralisation lying between 50 and 250 metres below surface. CET * MTonnes Fe% Grade Beneficiable Magnetite
Slide 6: Iron - Geology
Mt Forrest Iron ‐ Geology For personal use only Shallow regolith Ores circa 60% Fe ‐ Detritals, Goethitic ores, Martites (hematites after magnetites ) Base of oxidation ~ 50m Deeper Ores circa 45% Fe High tenor magnetites, primary hematites, micro‐ platy hematites Slide 6
Slide 7: Iron - Magnetite Resources
Mt Forrest Iron – Magnetite Resources The primary mineralised system is critical to the economics of the project: For personal use only • Iron formation intensively altered to enriched secondary magnetite: coarse, soft, clean • Significantly > billion tonnes in total resource • 250 million tonnes in
Slide 8: Iron - Regolith Materials
Mt Forrest Iron – Regolith Materials For personal use only The Regolith materials are the focus of the current drilling program, with the aim to delineate a sufficient resource to underpin a DSO feasibility study. Goethitic materials at Toucan‐Parrot‐Bulga • resource status and untested extensions.
Slide 9: Iron - Regolith Resources
Mt Forrest Iron – Regolith Resources For personal use only Regolith MTonnes Fe% SiO2 Al2O3 P LOI Resources % % % % (>40% Fe cut‐off) Indicated 11.7 45.4 22.9 5.2 0.06 6.2 Inferred 2.36 44.6 26.7 4.5 0.06 4.7 Total 14.06 45.3 23.6 5.1 0.06 5.9 These Direct Shipping materials include Regolith MTonnes
Slide 10: Ore Types
Mt Forrest ‐ Ore Types For personal use only Regolith goethite “biscuity” ore > 40% Fe (above) Detrital iron material ~ 45% Fe (above) Shows iron flooding on cleavage planes Altered high‐tenor magnetite ore with microplaty hematite ~ 50% Fe (right) shows “Brick and Mortar” texture as described at Ko
Slide 11: Iron - Geometallurgy
Mt Forrest Iron ‐ Geometallurgy Surface Samples Mapping For personal use only RC Drillholes 656 (51,944m) 2,899 11,000m2 Assays DTR 9,703 934 Core Drill Petrography Comminution 28 (5,633m) 18 Classification Resource Model Screening Bulk Sample Sizing Mine & Process Design Production Specification Ma
Slide 12: Processing
Mt Forrest – Processing The Geometallurgical studies are the lead in to process design and development. We are For personal use only early in the testwork phase, particularly so in Direct Shipping materials: • Most ores have consistently low phosphorus values in both DS and BM ores (<0.07% P). Magne
Slide 13: Mining
Mt Forrest – Mining Bulga Open Pit Isometric View (looking Northwest) For personal use only Bulga Open Pit (blue) Extends over 870m; over 100m wide; 30m deep Anticipate mining with shallow open pits, Mineable Resource*: 2.7Mt @ 42.1% Fe low stripping ratios and progressing to larger open pits or und
Slide 14: Mine to Port
Mt Forrest – Mine to Port Truck to primary crusher Direct Shipping Operation For personal use only Crushing to ‐3mm Heavy Media Separation Road Haulage to Truck to primary Menzies rail head crusher and grind to >150 micron Esperance Port Concentrate Operation Slide 14
Slide 15: Amenity, Power & Water
Mt Forrest – Amenity, Power & Water For personal use only Diesel and Gas options ‐ Potential third party provider ex Goldfields Gas Pipeline Water Licence applications in place Miscellaneous Licence corridor Mine to Menzies Railhead Slide 15
Slide 16: Mine to Port
Mt Forrest – Mine to Port For personal use only Mt Forrest Spur Rail • third party interest in open access construction, scoping is in progress. Brookfield Rail Menzies to Esperance • discussions are on going with the provider, an indicative price has been provided. Esperance Port Authority • discus
Slide 17: Iron - Market
Mt Forrest Iron ‐ Market Iron ore prices are as varied as the ores in the market place. For personal use only Prices have recently come off highs of $180/t and are expected to settle a little lower in the near term, but to hold that position into medium future. On the positive side, we believe deman
Slide 18: Iron - Permitting
Mt Forrest Iron ‐ Permitting For personal use only Environmental studies advancing with flora and fauna at stage two levels and micro fauna stage one completed. Aboriginal Heritage protocols are well developed and good relationships have been established on the ground. Native title agreement are in
Slide 19: YAJV Uranium
YAJV Uranium • Mindax Greenfields Discovery ‐ 75% Equity For personal use only • Dominant land position. • First mover advantage. • Partner expertise in InSitu Recovery (ISR). • Exploration Target* 10‐25 Mlbs at 0.05 ‐ 0.15% U3O8. • Maiden resource of 3.2Mlb is good start. • Anticipate increased ton
Slide 20: YAJV - Uranium Exploration Model
YAJV ‐ Uranium Exploration Model For personal use only Yandagin core The exploration model relies on uranium solubility in acidic groundwaters being precipitated by carbonaceous materials within the palaeochannel resulting in sheath like “roll fronts” of mineralisation. Slide 20
Slide 21: YAJV Uranium - Mukinbudin Resources
YAJV Uranium ‐ Mukinbudin Resources For personal use only Tonnes Metal Grade Grade U3 O 8 Prospect Category [Mt] [t] [%] [ppm] [Mlbs] Jindarra Inferred 1.86 500 0.03 273 1.12 Yandegin Inferred 4.36 950 0.02 221 2.12 Total Inferred 6.22 1,450 0.02 237 3.25 U3O8 cut‐off Tonnes Metal Grade Grade U3 O 8
Slide 22: YAJV - Uranium Prospectivity
YAJV ‐ Uranium Prospectivity For personal use only • Extension and Infill drilling at Jindarra and Yandegin Prospects. • Continue Scout Drilling Program at Kellerberrin & Quairading Projects. • Targeted drilling for mineralisation at Mukinbudin. Slide 22
Slide 23: Corporate Snapshot
Corporate Snapshot Issued Capital For personal use only Ordinary shares 171.1m Listed Options (MDXOA) 19m Price (last trade 2/12/11) 20¢ 90 day VWAP 21.73¢ Mindax Limited Share Price Performance 12 Month High / Low 48¢ / 15¢ Market Capitalisation $34.2m Share Price (AUD/Share) 250.0 0.50 Volume (k)
Slide 24: Competent Persons Statement
Competent Persons Statement For personal use only The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Gregory John Bromley who is a member of the Australasian Institute of Mining and Metallurgy, with more than 5 years experi