Turnstone Resources Ltd · ASX:TSR
Turnstone Resources — Davenport Resources — Investor Presentation (March 2019)
23 slides from Turnstone Resources's investor presentation, March 2019
Slide 1: Corporate Presentation March 2019
Corporate Presentation March 2019 BUILDING WESTERN EUROPE’S LARGEST POTASH INVENTORY © Davenport Resources Ltd. March 2019 www.davenportresources.com.au
Slide 2: Disclaimer
Page 2 DISCLAIMER Davenport Resources Limited (“Davenport”, “DAV”, “The Company”) has issued this Presentation This Presentation is not intended to be, and is not, a prospectus, offering memorandum or private for informational purposes only. It is not intended to, and does not, constitute specific a
Slide 3: A potash development portfolio in the heart of Germany
Page 3 A potash development portfolio comprising several, stand-alone projects based on very significant resources in the heart of Germany. © Davenport Resources Ltd. March 2019 www.davenportresources.com.au
Slide 4: Davenport at a Glance: Directors and Management
Page 4 DAVENPORT AT A GLANCE DAVENPORT’S DIRECTORS AND MANAGEMENT Significant experience in exploration, development and management of potash projects 143.1 m Issued Shares Market Cap A$11.7 mill Pat McManus: Chairman. 30 years of mining experience, Managing 34.4 m listed options Director of Parkway
Slide 5: German South Harz Region
Page 5 GERMAN SOUTH HARZ REGION •Davenport owns three perpetual mining licences and two exploration licences covering 659 km2 in the South Harz potash basin in central Germany. •This region represents the cradle of potash mining from where 181.7 Mt potash has been extracted since the 1890’s. All our
Slide 6: The Perpetual Mining Licences
Page 6 THE PERPETUAL MINING LICENCES OHMGEBIRGE MÜHLHAUSEN, KEULA AND NOHRA-ELENDE EBELEBEN © Davenport Resources Ltd. March 2019 www.davenportresources.com.au
Slide 7: The Exploration Licences
Page 7 THE EXPLORATION LICENCES KÜLLSTEDT GRÄFENTONNA © Davenport Resources Ltd. March 2019 www.davenportresources.com.au
Slide 8: Ebeleben
Page 8 EBELEBEN JORC INFERRED RESOURCE 576 MILLION TONNES •April 2018 - JORC Inferred Resource of 576 million tonnes at 12.1% K2O (69.7 Mt of K2O) which comprises 324 Mt sylvinite at 15.6% K2O and 253 Mt carnallitite at 7.5% K2O. •Extends from now closed Volkenroda mine to Davenport’s Gräfentonna Li
Slide 9: Mühlhausen, Keula and Nohra-Elende
Page 9 MÜHLHAUSEN, KEULA AND NOHRA-ELENDE JORC INFERRED RESOURCE 2.83 BILLION TONNES •JORC resource of 2.83 Billion tonnes containing 289.4 Mt K2O of mixed potash salts (ASX Announcements 16 October 2018 and 13 November 2018) within Mühlhausen-Keula-Nohra Elende area. •Contains 935 Mt Sylvinite and
Slide 10: Ohmgebirge
Page 10 OHMGEBIRGE Historic resource containing 149.1 Mt at 13.5% K2O containing 20.1 Mt K2O (ASX announcement 19th June 2018) 14 holes were drilled in this area by Former state potash company, the most recent in 1984. Orebody borders former Bleicherode -Sollstedt mines which yielded 171 Mt salts du
Slide 11: Exploration Licences
Page 11 EXPLORATION LICENCES LICENCE GRANT DATE TERM EXPIRY EXTENSION KÜLLSTEDT 12 January 2015 5 years 12 January 2020 3 years GRÄFENTONNA 12 January 2015 5 years 12 January 2020 3 years •In addition to the three perpetual mining licences, Davenport holds two exploration licences in the South Harz
Slide 12: Küllstedt Area
Page 12 KÜLLSTEDT AREA JORC INFERRED RESOURCE 1.58 BILLION TONNES •JORC resource of 1.58 Billion tonnes containing 165 Mt K2O of mixed potash salts (ASX Announcement 19th February 2019) within Küllstedt area. •Contains 333 Mt Sylvinite and 1,205 Mt Carnallitite. The Sylvinite is contained within a m
Slide 13: Gräfentonna Area
Page 13 GRÄFENTONNA AREA •Was drilled between 1960-1985 by former East Germany state for both potash and hydrocarbon exploration. •Potash and other salts were intersected in most holes. Historic drill data were used to calculate a resource target. •A resource target was declared by ERCOSPLAN compris
Slide 14: Total JORC Inferred Resources
Page 14 TOTAL JORC INFERRED RESOURCES HORIZON TONNAGE (MT) K2O % K2O (MT) EBELEBEN Sylvinite 324 15.6 50 Carnallitite 253 7.5 19 MŰHLHAUSEN KEULA Sylvinite 834 12.1 101 Carnallitite 296 8.2 24 MŰHLHAUSEN NOHRA-ELENDE Sylvinite 101 14.2 14 Carnallitite 1,597 9.4 150 KŰLLSTEDT Sylvinite 333 13.0 43 Ca
Slide 15: Summary of Davenport's Mining Licence Assets
Page 15 SUMMARY OF DAVENPORT’S MINING LICENCE ASSETS Mülhausen – Keula - Küllstedt • 2.7 Bt resource containing 290 Mt K2O also containing sulphate potash minerals. • Potential for a large, long-life, conventional Ebeleben underground potash mine. • 577 Mt resource containing high-grade thick Sylvin
Slide 16: Current Early Stage Projects
Page 16 CURRENT EARLY STAGE PROJECTS Company Emmerson Davenport EML.LN DAV.ASX Location Morocco Germany Interest 100% 100% Meas & Ind Mt - - Total Inf. Resource Mt 311 4,943* Grade % K2O 10.2 10.6 Project Status Exploration Exploration Cash USD 6.4 m 1.2 m Market Cap. USD 24.0 m** 8.24 m** * Include
Slide 17: Progressing from Exploration to Execution
Page 17 PROGRESSING FROM EXPLORATION TO EXECUTION Case Study: Highfield Resources (HFR.ASX) Share Price A$ 2.5 Positive Update Margin Forecast 2.0 Financing/Permitting/Engineering 1.5 Maiden Resource Cornerstone 1.0 Investor Asset Acquisition 0.5 DFS Completed 0.0 2012 2013 2014 2015 2016 2017 2018
Slide 18: Davenport's Fast-Track Path to Permitting
Page 18 DAVENPORT’S FAST-TRACK PATH TO PERMITTING Regional Project Description Planning Prelim. Impact Analysis Application Mining Operating Economic TLBA Final Operating Plan Exploration Studies Approval Licence Plan Application Public ESIA Meetings ESIA Phase 12-18 months Final Approval Phase 12-2
Slide 19: Potash Market
Page 19 POTASH MARKET •As global population increases, the available arable land per capita will continue to decrease. •Potash demand and prices are rising and the trend is forecast to continue. •` 2019 © Davenport Resources Ltd. March 2019 www.davenportresources.com.au
Slide 20: Fast Track Schedule
Page 20 FAST TRACK SCHEDULE 2018 2019 • JORC Resource for Ebeleben • JORC Resource for Mühlhausen areas • Identify locations for twin drillholes • Conduct scoping studies for at least three sub-projects • Drill twin holes* to satisfy Küllstedt licence obligations and verify historic data. • Elevate
Slide 21: A Compelling Business Case
Page 21 A COMPELLING BUSINESS CASE • Large high quality resources in historic potash region • Resources support long-life project options > 50 years • Low-risk jurisdiction These projects tick • Regional government supportive of job creation projects all the boxes • Proximity to markets (Europe stil
Slide 22: Building Western Europe's Largest Potash Inventory
BUILDING WESTERN EUROPE’S LARGEST POTASH INVENTORY © Davenport Resources Ltd. March 2019 www.davenportresources.com.au
Slide 23: Investor & Media Enquiries
INVESTOR & MEDIA ENQUIRIES Dr Chris Gilchrist - Managing Director Paul Cahill - Managing Director Davenport Resources Ltd Bacchus Capital Advisers Limited +353 41 988 3409 +44 (0) 203 848 1643 cgilchrist@davenportresources.com.au paul.cahill@bacchuscapital.co.uk © Davenport Resources Ltd. March 2019
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