Image Resources Nl · ASX:IMA
Image Resources Nl — RIU Resurgence Conference 2020
23 slides from Image Resources Nl's conference presentation, Sep 15, 2020
Slide 1: Australia's newest mineral sands miner
For personal use only Australia’s newest mineral sands miner Emerging mid-tier prospect Boonanarring Mineral Sands Project RIU Resurgence Conference 15-16 September 2020 John McEvoy Chief Financial Officer Image Resources NL ASX: IMA 1
Slide 2: Disclaimer and Forward Looking Statements
Disclaimer and Forward Looking Statements For personal use only This presentation/document has been prepared by the management of Image Resources NL ("Image”, “IMA“, or “the Company”). By accessing this presentation you acknowledge that you have read and understood the following statements. This pre
Slide 3: Introduction
Introduction For personal use only ➢ Established, profitable mining company focused exclusively on mineral sands ➢ High quality portfolio of 100%-owned projects located in the North Perth Basin in Western Australia • 1,000 km2; 7 dry mining projects/prospects and 3 dredge mining prospects ➢ Transiti
Slide 4: Corporate Video
Corporate Video For personal use only Video can be viewed at: www.imageres.com.au 4
Slide 5: Boonanarring Mineral Sands Project
Boonanarring Mineral Sands Project For personal use only Very strong fundamentals ➢ Excellent location; • 80km north of Perth in Western Australia • Major players (Iluka and Tronox) operating nearby ➢ Exceptional deposit; • Very high ore grade 8.9%HM • Zircon-rich 27.5% of HM • Coarse grained minera
Slide 6: Boonanarring Project – Simple Business Model
Boonanarring Project – Simple Business Model For personal use only Mining Classic dry, open-cut mining utilising standard truck and shovel fleet. Processing 3.7Mtpa conventional wet concentrate plant to produce a high-quality HMC. Trucking HMC trucked to Bunbury port. Shipping Bulk shipments to Chin
Slide 7: Corporate Snapshot
Corporate Snapshot For personal use only Diverse and Experienced Board and Management ASX Code IMA Board of Directors Share Price A$0.205* Bob Besley – Independent Chairman 12-Month Price Range A$0.12-0.30 Patrick Mutz – Managing Director Shares on Issue 980m Chaodian Chen - Non-Executive Director M
Slide 8: Mineral Sand Markets – Zircon
Mineral Sand Markets – Zircon ➢ Chinese zircon demand softened during late 19 & 1H’20 as the COVID-19 pandemic impacted For personal use only downstream demand and international exports. ➢ Global supply side disruptions have provided some stability to pricing. ➢ Chinese domestic zircon stocks now lo
Slide 9: Mineral Sand Markets – TiO2
Mineral Sand Markets – TiO2 For personal use only ➢ TiO2 markets showing strength and stability. ➢ Ilmenite markets buoyed by limited global supply exacerbated by Chinese domestic mine suspensions and strong operating rates at sulfate pigment plants and relatively low inventory levels ➢ Rutile marke
Slide 10: Operational Performance – Track Record
Operational Performance – Track Record For personal use only Excellent track record of operational delivery Wet Concentrate Plant Ore Processed (kt) ➢ Project commissioned in Dec-18. ➢ June Quarter 2020 operational performance broadly in line with record setting March Quarter 2020. ➢ CY2020 guidance
Slide 11: Operational Performance – Cost Control
Operational Performance – Cost Control For personal use only Demonstrating cost discipline ➢ Improved operating rates and expected ore grade are supporting high HMC production rates which in conjunction with continued cost discipline are reflected in falling unit costs. Unit Cash Costs (A$/t HMC Pro
Slide 12: Ore Reserves – Updated Dec 2019
Ore Reserves – Updated Dec 2019 For personal use only HIGH-QUALITY ORE RESERVES ➢ JORC Code (2012) Compliant ➢ Very High HM ore grade; exceptionally high zircon grade at Boonanarring ➢ Atlas to be mined in series following Boonanarring Ore Reserves - Strand Deposits; in accordance with the JORC Code
Slide 13: Operational Performance – Guidance & Forecasts
Operational Performance – Guidance & Forecasts For personal use only 2019 2020’1H 2020 2021 Item Units Results Results Guidance Forecast HMC Produced DMT 000s 270 167 300-330 300-330 HMC Sold* DMT 000s 238 109 300-330 300-330 C1 Cash Costs per tonne HMC sold A$/DMT 327 330 290-320 260-290 AISC Cash
Slide 14: Mine Life Summary
Mine Life Summary For personal use only Exploration Budget expanded with focus on increasing Ore Reserves and mine life ➢ Mine-life from Dec 2019 Ore Reserve estimated at 6 years ➢ Ore Reserves at Boonanarring expandable • Drill results indicate potential extension of the deposit to south, north and
Slide 15: Multiple Extension Areas at Boonanarring
Multiple Extension Areas at Boonanarring For personal use only Northern ➢ Initially focused on areas within 10km of Extension current location of Boonanarring Wet Northwest Area Concentration Plant (WCP) Extension Area ➢ Northern Extension Area (NEA) • Previously reported; 2017 WCP • High grades, hi
Slide 16: Growth – Our Portfolio
Growth – Our Portfolio For personal use only Established resources in the North Perth Basin ➢ Dry Mining Mineral Resources of 93Mt; 6.3% HM and 17% Zircon+Rutile in the HM ➢ Dredge Mining Mineral Resources of 236Mt; 2.1% HM and 11.5% Zircon+Rutile in the HM JORC Mineral Resources 12% Dry Mining Dred
Slide 17: Projects Pyramid – Strand Deposits – Dry Mining
Projects Pyramid – Strand Deposits – Dry Mining Mineral Resources – Accessible by Dry Open-Cut Mining For personal use only Projects ranked by combined zircon plus rutile (Z+R) contained in the HM Tonnes and grades are for Mineral Resources; Boonanarring, Atlas, Helene & Hyperion per JORC Code (2012
Slide 18: Projects Pyramid – Dredge Mining Prospects
Projects Pyramid – Dredge Mining Prospects For personal use only Mineral Resources – Accessible by Dredge Mining Projects ranked by HM Grade and include combined zircon plus rutile (Z+R) contained in the HM Positive attributes • 90+%VHM; • <5% slimes; Bidaminna Bidaminna Mineral Resources currently
Slide 19: Solar Farm at Boonanarring
Solar Farm at Boonanarring For personal use only Sunrise Energy Group Pty Ltd constructing 2.3 MWAC solar farm ➢ Construction and operation by Sunrise Energy; ➢ Located on Image owned land adjacent to Boonanarring processing plant ➢ Plan to provide 25% of electricity requirements for mining/processi
Slide 20: Community Engagement Program
Community Engagement Program For personal use only Image is proud of its active and varied community support and engagement program including through local employment. Image proudly contributes to the local community including through local employment. At 30 Jun 20 48% of its workforce lived locally
Slide 21: Forward Looking Plans
Forward Looking Plans For personal use only Summary ➢ Continue with profitable operations at Boonanarring; CY2020-2021 expected to be stronger than calendar year 2019 ➢ Increase Ore Reserves under Project ‘MORE’ at Boonanarring ➢ Ensure Atlas development / construction ready as next dry mining opera
Slide 22: For further information
For further information For personal use only Patrick Mutz Managing Director Image Resources NL info@imageres.com.au Office: +61 8 9485 2410 Ground Floor, 23 Ventnor Avenue West Perth, WA 6005 PO Box 469, West Perth, WA 6872 www.imageres.com.au 22
Slide 23: Mineral Resources
Mineral Resources For personal use only Mineral Resources - Strand Deposits; in accordance with the JORC Code (2012) @ 2.0% HM Cut-off Mineral Resources - Dredge deposits; in accordance with JORC Code (2012) @ 1.0% HM Cut-off Project/Deposit Category Volume Tonnes % HM % Slimes HM Tonnes VHM Ilmenit