Resource Minerals International Ltd · ASX:RMI
Resource Minerals International — Resource Mining — Shareholder Meeting (November 2009)
21 slides from Resource Minerals International's shareholder meeting presentation, Nov 30, 2009
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 30 November 2009 10:30AM
Slide 2: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Resource Mining Corporation Limited (“RMC” or the “Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation wi
Slide 3: Corporate Summary
Corporate Summary For personal use only ASX Code : RMI – Shares on Issue : 1.046 billion – Options on Issue : 16 million (unlisted) RMC price history chart 66.6 million (listed) exercisable at $0.008 by 31 March 2012 – Current Share Price : $0.010 – Market Cap Approx : $10.46 million – Current Cash:
Slide 4: Corporate: Funding, Staffing, Assets
Corporate For personal use only Funding • Unsecured Convertible Note issued to Mount Gibson Iron Limited for $1.0m due for repayment or conversion to 31,250,000 ordinary shares at $0.032 per share on 19 December 2009 • Unsecured Convertible Note issued to Sinom (Hong Kong) Limited for $282,012 due f
Slide 5: Projects
Projects For personal use only Wowo Gap Nickel Laterite Project (PNG) Over the past three years RMC has moved from an exploration company with hopes and dreams to the custodian of a world class nickel laterite resource ► 100% RMC, JORC Indicated and Inferred Resource: 190Mt @ 0.83% Ni 0.06% Co ► Maj
Slide 6: Wowo Gap Project
Wowo Gap Project For personal use only • Project Location
Slide 7: Wowo Gap Overview - 2009
Wowo Gap Overview - 2009 For personal use only ► JORC Compliant Resources (reported at 0.8% Ni cutoff): Tenement: EL 1165 Wowo Gap Laterite Nickel - Cobalt Resource Classification Ni % Cut M Tonnes Nickel % Cobalt % Contained Nickel Contained Cobalt Off tonnes tonnes Indicated 0.8 39 1.00 0.05 390,0
Slide 8: Parameters
Feasibility Study Parameters For personal use only • HPAL to process limonite ore utilising saprolite ore to neutralise acid • Annual production of 13,000 tpa of nickel metal and 1,303 tpa of Co metal equivalents produced as mixed sulphides • 20 year operation life, 1.25 Mtpa of limonite and 0.25 Mt
Slide 9: Concept Site Layout
Feasibility Study - Concept Site Layout For personal use only
Slide 10: Preliminary Outcomes
Feasibility Study – Preliminary Outcomes For personal use only Capital Cost <US$1Bn • Mine/Plant/Utilities/Services 45% of total cost • Infrastructure/Indirect 21% of total cost • EPCM/Owners costs/Contingencies 34% of total cost Forecast operating cost of US$3.88/lb puts project operating costs at
Slide 11: Forecast Wowo Gap Operating Costs
Forecast Wowo Gap Operating Costs For personal use only
Slide 12: Nickel Price
Nickel Price For personal use only Project Economics driven by long term Ni price • Future price trend? • Analysts vary in their forecasts but range US$16,000 to US$18,000 now to end 2010 (agreed at October 2009) • Long range forecast US$19,400/tonne • Nickel price bubble of mid 2006 to early 2008 s
Slide 13: Uses for Nickel
Uses for Nickel For personal use only Stainless Steel dominates the Ni sector in terms of use accounting for 75% of annual Nickel metal consumption • Since 2001, world stainless steel production growth has risen at approx 10% pa • Increase has been dominated by China where growth has been around 50%
Slide 14: Wowo Gap – SWOT Analysis
Wowo Gap – SWOT Analysis For personal use only Strengths • Large resource with exploration upside • Located close to coast • Reasonably simple development potential, downhill haul road, significant land available for development • Government pro mining • HPAL tested technology particularly small pla
Slide 15: Development Options
Feasibility Study - Development Options For personal use only The following development options were considered: 1. Direct Ship 2. Heap Leach 3. Atmospheric Leach 4. High Pressure Acid Leach (HPAL)
Slide 16: Development Options: Direct Shipping
Feasibility Study - Development Options For personal use only 1. Direct Shipping option: Advantages: • Low Capex and Opex • Potential markets limited, but close by – freight costs low Current Trade: Limonite Saprolite Grade demand >1.4% Ni >2.5% Ni Customers Yubulu Refinery Qld Smelters - Japan Supp
Slide 17: Development Options: Direct Shipping cont.
Feasibility Study - Development Options For personal use only 1. Direct Shipping option cont. Future potential: • Currently researching alternate markets for the lower grade Wowo Gap Ni Laterite material • Export restrictions contemplated by the Governments of Indonesia and Philippines
Slide 18: Development Options: Heap Leach
Feasibility Study - Development Options For personal use only 2. Heap Leach option: • Capital Cost US$680 - $860 million • Operating Cost ~ US$3 - 4/lb Ni depending on acid price • Metallurgical challenges due to very high Fe (limonite) and Mg (saprolite) as both elements preferentially consume acid
Slide 19: Development Options: Atmospheric Leach
Feasibility Study - Development Options For personal use only 3. Atmospheric Leach Option: • Capital Cost > US$1 billion for 20,000 tpa operation • Operating Cost ~ US$5 - 6/lb Ni depending acid price • Metallurgical challenges due to very high Fe in the limonite and high Mg in the saprolite (both c
Slide 20: Development Options: High Pressure Acid Leach
Feasibility Study - Development Options For personal use only 4. High Pressure Acid Leach (HPAL) Option: • Preferred process option for Limonite ore (high Fe, low Mg material) • Proposed Process Facility is 1.25Mtpa HPAL plant to produce 10,000 tonnes of Nickel metal equivalent • Proven technology p
Slide 21: Summary/Conclusions
Summary/Conclusions For personal use only ► Preliminary Feasibility Study results highly encouraging ► Further investigative work is warranted ► Finalise Feasibility Study into the 1.25Mtpa HPAL project ► Further Diamond Drilling to Increase Resource Base and provide additional sample for metallurgi
Resource Mining — Shareholder Meeting (November 2009) on 6ix