Eastern Resources Limited · ASX:EFE
Eastern Resources — Eastern Iron — Investor Presentation (February 2012)
22 slides from Eastern Resources's investor presentation, Mar 5, 2012
Slide 1: Eastern Iron Limited
For personal use only Eastern Iron Limited Feb 2012
Slide 2: Disclaimer
Disclaimer This release may include forward-looking statements. These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the co
Slide 3: Eastern Iron – Summary
Eastern Iron – Summary Three significant iron projects on the East Coast of Australia. Strategically focused on identifying high grade DSO, low capex, high margin iron ore developments – low to medium tonnage, For personal use only close to bulk transport/export infrastructure in Australia and overs
Slide 4: Eastern Iron Corporate Summary
Eastern Iron Corporate Summary For personal use only Capital Structure • Tight capital structure • 68.8 million shares • $1.8 million cash (Dec 2011) • PlatSearch NL (ASX:PTS) major shareholder (46.4%) • Share price: 7.5c (22 Feb 12) • Ev $3.6M •Top 20 hold 70% of issued shares
Slide 5: Board of Directors
Board of Directors Glenn Goodacre BA (Macquarie) Non-Executive Chairman Glenn Goodacre has a background as an investor in resources and the private equity industry having commenced investing in resources in the late 1960s and working in the industry in the 1980s. His experience encompasses the pre-f
Slide 6: Corporate Strategy
Corporate Strategy Objective: Develop a pipeline of projects which are capable For personal use only of aggregating into moderate total tonnages (2-5Mtpa), low capex, low op cost, high margin •Focus on small tonnage low capex high grade DSO iron mines with access to port • Individual projects: (eg N
Slide 7: Nowa Nowa Iron Project
NOWA NOWA IRON PROJECT Located in Eastern Victoria – good local power, roads, labor, port infrastructure For personal use only 50 sq km held under exploration licence 100% owned by Eastern Iron Multiple deposits; further resource upside
Slide 8: Five Mile Deposit
•Drilled in 1950’s by Vic Govt. • Massive magnetite/hematite body Five Mile Deposit: • Unoccupied Crown Land • Native Title Agreements in place For personal use only • 8.9Mt @ 49.2% Fe Inferred Resource
Slide 9: Seven Mile Deposit
Seven Mile Deposit For personal use only • High grade DSO hematite at surface • Potential small open cut at start of development • Inferred 0.55Mt @ 48.3% Fe – potential to expand resource
Slide 10: Five Mile - Metallurgy
Five Mile - Metallurgy For personal use only • Preliminary results from limited drill core sampling: • Head assays indicate potential for DSO operation: Fe SiO2 Al2O3 P S (%) (%) (%) (%) (%) Upper Comp 62.3 6.75 0.9 0.010 0.540 Intermediate Comp 55.4 10.6 2.28 0.013 0.800 Lower Comp 60.0 8.24 1.11 0
Slide 11: Nowa Nowa Development Concept
NOWA NOWA Development Concept: IRON PROJECT • Open Pit Mine producing approx +0.5Mt pa iron product. For personal use only • Mine DSO hematite from 7Mile first then magnetite/hematite from 5 Mile • Explore other ore sources eg 6 Mile. • Road transport 220km to Eden Port (other transport options to
Slide 12: Nowa Nowa – Additional Resource Potential
Nowa Nowa – Additional Resource Potential For personal use only 7 Mile: 0.55Mt1 DSO hematite •Multiple bodies of massive magnetite •Eastern extensions to 5 6 Mile: undrilled Mile and undrilled 6 Mile target represent exploration upside to total resource. 5 Mile: 8.92Mt1 1 Details included in resourc
Slide 13: Nowa Nowa Iron Project - Next steps
NOWA NOWA IRON PROJECT - Next steps Scoping study (April – Sept quarter 2012) • Upgrade Five and Seven Mile resource For personal use only • Large diameter core drilling for metallurgical and market testing • Firm transport arrangements • Investigate offtake options Feasibility study (Mid – Early 20
Slide 14: Central Queensland Iron Project
CENTRAL QUEENSLAND IRON PROJECT A unique opportunity of large iron resources in an For personal use only area of established infrastructure • Hawkwood project (EFE earning 80% currently at 50%) • Eulogie Project (EFE 100%) • Auburn exploration permit (EFE 100%)
Slide 15: Eulogie Project
Eulogie Project • New JORC Resource: 465 Mt @ 14.2% Fe • Vanadiferous Magnetite For personal use only • Expln target tonnage 500Mt-1000Mt1 • Acquired by Eastern in Jan 2011 and targeted for early development due to favourable location and logistics. • Located 80km from Gladstone 1 Potential explorat
Slide 16: Eulogie and Hawkwood Projects
Eulogie and Hawkwood Projects Local infrastructure supports rapid potential For personal use only development Eulogie: Transport options include: Option 1 – 50km road to Blackwater rail line 140km to Port. Option 2 – 50km road to Moura rail line 100km to Port Option 3 - 80km haul road to Port •Possi
Slide 17: Eulogie Project – Concept Development Study
Eulogie Project – Concept Development Study For personal use only • Open Pit mine, 20Mtpa ROM ore • 3.2 Mtpa magnetite concentrate • 80km road transport to Gladstone Port • Loading through multi-user wharf to +100 Kt vessels • Capex est. $500-600M • Cash costs est. $75-80/t concentrate FOB Gladstone
Slide 18: Hawkwood
Hawkwood For personal use only • Layered igneous complex with12 km zone of mineralisation •Suitable for low strip open cut mining. • +500Mt exploration target
Slide 19: Hawkwood JV with Rugby Mining
For personal use only Eastern Iron earning 80% (JV with Rugby Mining Ltd, RUG:Venture) 4 Exploration licenses totalling 345 km2 Work completed includes: • High resolution airborne magnetic survey • RC drilling program (2010) • Diamond drilling (2011) • Metallurgical testwork (2010) • Resource dr
Slide 20: Central Queensland Transport Infrastructure
CENTRAL QUEENSLAND TRANSPORT INFRASTRUCTURE For personal use only Moura rail line Blackwater rail line RG Tanna coal loader Auckland Point Barney Point
Slide 21: Eastern Iron - Investment Summary
Eastern Iron - Investment Summary Eastern Iron is focused on the potential for near term development of Nowa Nowa For personal use only and other high grade DSO opportunities and realising value from its large scale Queensland magnetite projects Seeking to raise further capital to fund the completio
Slide 22: Thankyou
Suite 3, Level 1, 80 Chandos Street Thankyou St Leonards,2065, Australia PO Box 956, Crows Nest,1585 For personal use only Ph: 02 9906 7551 Fax: 02 9906 5233 Questions? www.easterniron.com.au