Igo Limited · ASX:IGO
Igo — Independence Group NL — Shareholder Meeting (November 2005)
43 slides from Igo's shareholder meeting presentation, Nov 23, 2005
Slide 1: Annual General Meeting
ABN 46 692 786 304 ATs. q A INDEPENDENCE GROUP NL. 23 November 2005 Australian Stock Exchange Limited Company Announcements NO. OF PAGES =: (43 Level 10, 26 Bond Street SYDNEY NSW 2000 ANNUAL GENERAL MEETING Independence Group NL is pleased to provide the presentation to be made at the Annual Genera
Slide 2: Te i a: oss ae sai y ‘s Ge RORY Uf
Te i a: oss ae sai y ‘s Ge RORY Uf | &# + ~~~ Ly — WE IU — WEE Loo Ce La oo 7 LSD AI SA OIE FIC EE EE EE ~=—hCOet—ee YY HOD IIE. Y - rrrrrt—“ ew.DULULULU”U”U”UC™~™~t—“‘“‘“‘<(‘<‘(‘ YEE EL. LU a i. ..}©=©=—h—hC)OUrUrUrUrClCUCUCUCCDW De | #&8©—6—hCl LL EEE EEE EE Ly ey LL a Ba | —rr—“‘“‘_OCCOC—O—OCOCCC
Slide 3: Strategy to increase shareholder returns
« Strategy to increase shareholder returns by growing IGO into a highly profitable diversified mining house with a targeted net profit of $100M p.a.
Slide 4: IGO Board
IGO BOARD 2004/05 Board Remuneration - $1.14M (including option valuation)
Slide 5: Share Structure
SHARE STRUCTURE p Now an ASX 300 Company
Slide 6: IGO Snapshot
IGO SNAPSHOT Operations Gross Cash Flow —_ Return on Equity 2002 2003 2004 2005 2003 2004 2005 2002 2003 2004 Nickel Production Ore Reserves Mineral Resources tonnes 2002 2003 2004 2005 2002 2003 2004 2005 a Post Production Year End Reserve @ Reserve Increase 2003 2004 2005
Slide 7: IGO Snapshot (cont.)
iGO SNAPSHOT (cont.); Net Receivables| DQ03 MQo4 JQ04 $Q04 DQ4 MQos JQ05 ~ $Qo3 baQo3 MQ04 JQ04 SQos DQo4 MQOs JQos Quarter Quarter Dividend Per Share Earnings Per Share - Diluted Mm Dividend sages Dividend Yield " 2002 2003 2004
Slide 8: IGO Share Price
/ IGO SHARE PRICE ~ 22.11.05 _ Weekly Average _ | :
Slide 9: ASX Metals Companies P/E Comparison
ASX 3 0 METALS COMPANIES "PIE COMPARISON ___ ASX 300 Gold & Base Metal Mining Companies (18.11.05)
Slide 10: Top Ten Shareholders
TOP TEN SHAREHOLDERS
Slide 11: IGO Profitability
IGO PROFITABILITY Excludes capital, depreciation, amortisation and exploration
Slide 12: IGO Cash & Debt
IGO CASH & DEBT (A$) ss Paid Dividends to 30.06.05: A$8.7M (5c + 3c)
Slide 13: Long Nickel Mine (100% IGO)
LONG NICKEL MINE (100% IGO) ‘i cil E a
Slide 14: ey Ta
ye . _ ey Ta EAE EEE: ee Lk ay Do Long North Target FISHER 3.8 % Ni 49,370 Nit || Nickel shoots
Slide 15: Long Production History
LONG PRODUCTION HISTORY 2002 - Sept 05 pre-tax: free cash = = ($15 purchase: price) | Production ASilb Payable| | | Nickel Tonnes Cash Cost / 3000 $6.00 2000 _ iad ay -{$4.00 $3.00 - if i a i t i. j i i i bi $2.00 Dec. Mar Jun Sep Dec Mar. Jun Sep Dec Mar Jun. Sep < | 2004 | 2005 | J Nickel producti
Slide 16: Long Mine Personnel
LONG MINE PERSONNEL e Productivity bonus.
Slide 17: Deprec. / amort. / rehab
2003/ ON —o0 _—_ | | — Deprec. / amort. / rehab:
Slide 18: Mine Production Stats
MINE PRODUCTION STATS Outside Reserve Actual 99,923t@4.0% Ni (4,049 Nit) TOTAL 468,808 t @ 4.0% Ni (18,719 Ni t)
Slide 19: Production Budget
RODUCTION BUDGET —— __ )
Slide 20: Long Mine Fly Through
LONG MINE FLY THROUGH
Slide 21: Long Nickel Mine - Victor South
a LONG NICKEL MINE VICTOR SOUTH Drill Drive \ VictorSouth-June 2005 yy, \ \ Resources: 468,000t @ 4.1% Ni (19,300t Ni) | Drill h Open / Reserves: 428,000t @ 3.6% Ni (15,600t Ni) rl ole Open McLeay - September 2005 Resources: 194,000t @ 6.7% Ni (12,000 Ni) Reserves: 183,600t @ 4.4% Ni (8,110t Ni)
Slide 22: 3.4m @ 11.5% Ni ee [EOF Victor South
T1&2 3.4m @ 11.5% Ni ee [EOF Victor South — ‘ v |13.1m @ 8.5% Ni = \ ae Current Reserve Area [3.2m @ 11.3% Nik Previous | [455m @ 41% Ni 17m @ 14% Ni} Reserve Area _19,85m @ 6.7% Ni 2.3m @ 14.6% Nite =e y= 5.5m @ 5.9% Ni] 22m @ 13.9% Ni 1.3m @ 12.6% Ni Gael 1.2m @ 11.4% NDA pina 75% Ni 5.7m @ 8.2% N
Slide 23: Long Project Area
GOLD FIELDS ML 15/161 ROYALTY AREA MINERAL LEASES 100% |GO LOCATION 48 NOW 100% IGO FREEHOLD LONG PROJECT AREA LONGITUDINAL PROJECTION | NEW 2.8km NORTHERN EXTENSION 100% |GO FREEHOLD ong Shaft A 2 1m @ 19-17% Ni 4.8m @ 2.2% Ni inci. 1.4m @ 4.3% Ni 76m @ 10.1% Ni 6m @ 3.3% Ni Long Complex - June 200
Slide 24: IGO Investment Criteria
IGO INVESTMENT CRITERIA e Significant exploration upside.
Slide 25: Matrix Metals Copper Project
MATRIX METALS COPPER PROJECT _|Mt "| Operation al Matrix Metals s tenements _ l iG) Mine | - LOCATION & GOALS (IGO — — 18.9%) MT WATSON PROJECT tage 2: §,000t Cu over +6 years WHITE RANGE PROJECT Stage 1: 15,000t Cu over +6 years
Slide 26: IGO Australian Regional Exploration
IGO AUSTRALIAN REGIONAL EXPLORATION
Slide 27: Lake Johnston / Lake Zoe NE targets
-_ LAKE OOM NE WV'S ~ ‘TARGET NEW KE ) (IGO earning ee ae Area shown ‘on following slide IGO earning 100% with clawbacks
Slide 28: Le i } LOU pie na ee cRmoUEeU stop pa
Le i } LOU pie na ee cRmoUEeU stop pa _ Co . Ly Le _ Ce . LULL Ce ye Ld) j ._ _ Le tra nafi Ly lo a . oo PI Te | ‘ambalda fra ~=LakeL A Matic | De oo tails ey ie L ern eke Ss Cae y Nickel sulphide shoots 1 ig Uy SQUID TEM anomaly
Slide 29: Duketon JV
7) ty yy DUKETON JV IGO earning /0% YANDAL JV IGO earning 70% Rockys Reward Perseverance LEINSTER ROYAL NORTH IGO 100% with WMC royalty
Slide 30: Nickel Sulphide Gossan
NICKEL SULPHIDE GOSSAN Nickel sulphide gossan | — rock chips with up to 2.3% Cu, 0.9% Ni, 0.7g/t Pt, 0.7g/t Pd, 0.4g/t Au 2 Magn wD 100x 12.6 0.6 mBar
Slide 31: Dee Oe ]
Dee Oe ] -——~—rs—eC . 7 CC Z _. a CC CF tk ~~ rrt—“( ™””t”™”™~*~™~™~™C™C*”NC Ly Lo lO _ yy . Le 2S . _ i . yi Ue A ol _ fi - Ce a oe JG Lo . —\ hin oD Le Do _ ye Le Le yp E c 1 oe YO ey Wy Co Woe akkiosete iy, Ul Wee Lg Ly LO yy / 7 ANGE LG Ue = oe i a Lo ee Mag high outline
Slide 32: Forrestania Nickel
Forrestania Nickel Sulphide Camp Production 1 992-1999: §5,000t Ni Resources June 2005: 164,000t Ni Western Areas RAVENSTHORPE OPTION IGO earning 51-70% Regional Air Magnetics Maggie Hays Nickel Sulphide Camp LionOre IGO - Traka Option Tenements Ravensthorpe Nickel Sulphide Camp RAV 8 Nickel Mine Pa
Slide 33: Ravensthorpe Option
RAVENSTHORPE OPTION 1GO - Traka Option Tenements , Anomalous nickel, copper drill holes (Ni >4000ppm), Cu > 250ppm) @ Known nickel sulphides
Slide 34: Tropicana Gold JV (IGO 30%)
TROPICANA GOLD JV (IGO 30%) _LARGET: New gold camg 1 TROPICANA L Mineral Sand Project -———"" IGO 100% oy “| LAVERTON ae eae ‘ a f Q LEONORA ,| Tropicana Prospect — Jf \ 38m @ 3.0 g/t Au 11 20ppb Au incl. 10m @ 7.9g9/t Au poe rN a Pe , \ m | Sk | ; Rusty Nail Prospect < TROPICANA JV S 2m @ 7.2m g/t A
Slide 35: Tropicana Cross-Section
ad TROPICANA CROSS-SECTION 48000E 48100E 48200E 26m @2.29/Au_ | incl. 8m @ 1.89/t Au & 10m @ 4.19/t Au 38m @ 3.0g/t Au incl. 17m @ 1.4g/t Au & 10m @ 7.9g/t Au ~2Mm @ 158.29/tAu |
Slide 36: Tropicana Gold Drill Intercepts
TROPICANA GE |x METRE CONTOURS. 1|@® Diamonddrillhole | Hae 13m @ 1.69/t Au from 51m ® Air-core drillhole . _ 7m @3.19/ Au from 73m | @ RAB dillhole FF ED) | @ RC drillhole He : EZ@iNewdrilintercept | C1 Previous drill intercept | yy |TPD 09: 26m @ 2.29/t Au from 70m 7 7 TPD 10: 38m @3.0g/t Au from
Slide 37: Tropicana Gold JV - Rusty Nail Prospect
TROPICANA GOLD JV — RUSTY NAIL PROSPECT (IGO 30%) | "= 12ppb Qppb Tropicana Prospect 38m @ 3.0g/t Au incl. 10m @ 7.9g/t Au 6ppb 3ppb N A Kamikaze Prospect _ | — Rusty Nail Prospect 2m @ 7.2g/t Au EOH L 4 + Aircore/RC drilling a Multi element prospect areas | Tailspin- [Prospect jp | Frostbite Prospe
Slide 38: Dalwallinu Project (100% IGO)
DALWALLINU PROJECT (100% IGO) TARGET: New gold cam} _ 200m x 50m Auger. Gold Geochemical Image 7 95ppb Au = Auger geochem assay Note: red contour >S0ppb Au A Widgie Hill Au Anomaly : : + Drill hole (yet to be tested) pil ae! _ ot ws - 70km - — ee 802000 Au] E571 ppb Au Pithara Prospect 7m @ 21.8g/t
Slide 39: Dalwallinu Project
DALWALLINU PROJECT 6635580N 6635540N 4 6m @ 3.2g/t Au 4m @11.6g/t Au* ———— ” Wy Presence of anaes sulphides des below 7m @ 21.8g/t Au incl. 2m @ 61.5g/t Au pyrite alteration . Silica biotite *4m composite sample pyrite alteration Cross-sections 25m apart
Slide 40: Mt Padbury
_ MT PADBURY Oe% IGO) Horseshoe Lights Au-Cu Mine ___ Gold in Soil Anomaly Meteoric Resources , 2m x Stn Mas Bi fo SUPP Wilthorpe Gold Prospect; 7 2: 9m @ 8.3g/t Au 5m @14.1g/t Au 6m @ 7.2g/t Au y _ 1 Gold in Soil Anomaly : Gold in : Bo : an x 200m Max Au to 89ppb |] Soil Anomaly : tr. 500m x 500m |
Slide 41: Kudi Bore
KUDI BORE oF oon Auger ppb Au HB 50 4,7g/t Au 93.8q/t Au 2.19/t Au v Surface rock chip 10.7g/t Au
Slide 42: Independence Corporate Goals
INDEPENDENCE CORPORATE GOALS
Slide 43: Long-Term Growth Strategy
cud LONG-TERM GROWTH STRATEGY ‘MINE/NEAR MINE] | GREENFIELDS PRODUCTION/ | | EXPLORATION MERGERS & || ACQUISITIONS EXPLORATION | (Ni, Au, Cu, Diam) Long Mine New nickel identify, secure, sustainable camp evaluate, -9,000Ni t/ pa +100,000 Nit acquire © New discovery New gold Matrix — Copper to increa
Independence Group NL — Shareholder Meeting (November 2005) on 6ix