Australian Mines Limited · ASX:AUZ

Australian Mines — West Musgrave Mining — IPO Roadshow (August 2001)

27 slides from Australian Mines's IPO roadshow presentation, August 2001

  1. Slide 1: Overview

    OVERVIEW August 2001

  2. Slide 2: The Company

    The Company ! Unlisted Australian public company ! 22 existing shareholders ! $0.65 million dollars in working capital raised ! 33.63 million shares on issue ! 14.95 million options on issue ! IPO Prospectus lodged 30 July 2001 ! Major shareholder pre IPO – 42.5% Mineral Securities Limited

  3. Slide 3: The Board & Management

    The Board & Management ! Dr John Daniels Non-executive Chairman ! Don Boyer Managing Director ! Keith Liddell Non-executive Director ! Craig McGown Non-executive Director ! Tony Fairweather Non-executive Director ! Greg MacMillan Company Secretary ! Rhod Grivas Exploration Manager

  4. Slide 4: IPO

    IPO ! Prospectus lodged 30 July ! Timetable - Opening Date 6 August - Closing Date 3 September - Quotation 14 September ! Minimum spread to come from priority issue to AHG shareholders ! Underwriting from DJ Carmichael ! Public issue 22.5 M shares @ 20c to raise $4.5 million

  5. Slide 5: Post IPO Capital Structure

    Post IPO Capital Structure Shares No. M $M Initial subscribers 20.500 0.026 Seed capitalists 13.133 0.657 IPO 22.500 4.500 Post IPO vendor shares 8.750 1.750 Total 64.883 6.533 Options# No. M Underwriter 0.500 Directors & management 2.900 Pre IPO Shareholders 14.946 Total 18.346 (#Exercisable at 20c

  6. Slide 6: Post IPO Use of Funds

    Post IPO Use of Funds $M Two year exploration program 2.075 Administration (2 years) 0.750 Issue costs 0.400 Working Capital# 1.275 Total 4.500 (#Incl. $450,000 in future vendor payments)

  7. Slide 7: West Musgrave Superproject

    West Musgrave Superproject ! 6 granted exploration licences – area 1,030 km2 ! WMM has or is acquiring interest of up to 100% ! Attractive geological setting – unexplored ! Major WMC Ni-Cu-PGE discovery 10 km NW of Mt Morphett

  8. Slide 8: West Musgrave – Location Plan

    West Musgrave – Location Plan

  9. Slide 9: West Musgrave – Tenement Plan

    West Musgrave – Tenement Plan Western Mining Corporation Tenement Holding West Musgrave Mining Ltd Tenement Holding

  10. Slide 10: Geological Setting

    Geological Setting ! Tenements cover mafic-ultramafic rocks of the mid Proterozoic Giles Complex within the Musgrave Block ! These rocks are recognised as having the potential to host substantial Ni-Cu deposits ! Analogy with ore models associated with Sudbury, Voisey’s Bay, Noril’sk and elsewhere

  11. Slide 11: West Musgrave – Regional Geology

    West Musgrave – Regional Geology

  12. Slide 12: West Musgrave – Regional Magnetics

    West Musgrave – Regional Magnetics

  13. Slide 13: West Musgrave – Regional Gravity

    West Musgrave – Regional Gravity

  14. Slide 14: West Musgrave – Satellite Image

    West Musgrave – Satellite Image

  15. Slide 15: Projects

    Projects ! Mt Morphett !50 km2 gabbro intrusion with obvious magmatic layering (some iron-rich) – base of intrusion probably preserved – much superficial cover ! Morgan Range !Isolated 36 km2 gabbro body within belt of layered gabbro intrusions – contacts obscured

  16. Slide 16: Projects (continued)

    Projects (continued) ! Cavenagh Range !Single 200 km2 flat lying layered gabbro body – good access to prospective base of intrusion ! Blackstone Range !35 km section of layered gabbro 3.6 km thick. Lower contact prospective for magmatic Ni-Cu, + Ti-V & PGM potential in iron rich upper layers over 10

  17. Slide 17: Mount Morphett Project

    Bentley Supergroup Zone 5 gaboro Zone 4 gabbro Zone 3 gabbro Zone 2 gaboro Zone 1 gabbro Undifferentiated gabbro Undifferentiated granitot Fault Dip and strike Tenement outline [4 = [4 LT =a ry CI

  18. Slide 18: Current Status

    Current Status ! Recent agreement over additional 600 km2 land package ! Access agreement in place over 60% of superproject area ! Final stage of negotiating access agreement over balance of area

  19. Slide 19: Current Status (continued)

    Current Status (continued) ! Court case against WMC settled out of court in WMM’s favour ! Planning initial work program ! Seeking to consolidate position in West Musgrave area through further acquisitions

  20. Slide 20: 2001 Field Program

    2001 Field Program ! Detailed airborne magnetic survey ! Geological reconnaissance ! Identify targets for follow-up airborne EM surveys and ground-based programs (geochemical surveys and priority drilling) in 2002

  21. Slide 21: Summary

    Summary ! Contiguous granted tenure over 1,030 km2 ! 100% owned or controlled ! Access agreement over 60% of land areas ! Strategic location in heart of West Musgrave province – proximal to WMC’s recent significant discovery ! Highly prospective, but as yet unexplored ! IPO underway to raise $4.5 mi

  22. Slide 22: West Musgrave – Tenement Holders

    West Musgrave – Tenement Holders Mt Morphett 100% WMM Cavenagh Range Project Blackstone Range Project Morgan Range 100% WMM

  23. Slide 23: Mount Morphett Project

    | 7 | 127°55' ‘ ia. 128°05' of % Outcrop Geology Gabbro s Granite Re E69/1391 i Tenement 26°14'— outline te: A et wel Mt Morphett ____ eG, - Cs| 01 23 4km A on E69/1457 m» E69/1456 | Borrows Hil tag, My | |

  24. Slide 24: Cavenagh Range Project

    ] |] lane l + wa 127°55" 128°00' 128°05' 12°18 | E69/1390 j¢045: bistcil cover Outcrop SEG Undifferentiated Proterozoic —_ Gabbro po°05— Tenement outline =P a PS P P-o 7 P6°10— E69/1391 Csl a E69/1389 : tee

  25. Slide 25: Blackstone Project

    | | | Nona RD 128°10" 128°15' 128°25' a Surficial cover [JF] Felsic Granulite Outcrop Geology Undifferentiated | Proterozoic HE) Gabbro ay [-M_] MaficGranulite | | Tenement outline F peo M M getting M Blackstone Warburton 9-_ Wit ~ — 26°00'- aS Csi | <9 u E69/1390 E69/1389 2 0 2 4 6 8 10km ine 0. p

  26. Slide 26: Morgan Range Project

    Outcrop Geology 25°54"— Surticial cover Gabbro Felsic Granulite Dolerite dyke Tenement | outline | Ellie 2z—

  27. Slide 27: Comparison

    Comparison ! Comparison of characteristics of WMC’s Nebo discovery with Voisey’s Bay Nebo Voisey’s Layered mafic intrusive Yes Yes Proterozoic Yes Yes Troctolite sheets Yes Yes Nickel Grade 2.45% 2.83% (wt) Copper Grade 1.78% 1.74% (wt) Cobalt Grades 0.09% 0.12% (wt) PGE + Au 0.74 gpt Not reported S

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