Vital Metals Ltd · ASX:VML
Vital Metals — Shareholder Meeting (November 2008)
12 slides from Vital Metals's shareholder meeting presentation, Nov 21, 2008
Slide 1: Managing Director's Presentation Annual General Meeting
Managing Director’s Presentation Annual General Meeting 21 November 2008
Slide 2: Watershed Overview
WATERSHED OVERVIEW • Large deposit – open along strike and at depth • In-ground tungsten (WO3) value - >A$2 billion • Measured and Indicated Resource - Stage 1 6 mt @ 0.35% WO3 (0.2% WO3 cut-off) • Smoothed grades in existing resource estimates • Variable mineralisation being addressed • Revised thr
Slide 3: Feasibility Study to Date
FEASIBILITY STUDY TO DATE • Extensive drilling program completed • 5 bulk samples for metallurgical testwork • 2 kriged resource models estimated • Recovered Fraction Modelling (RFM) underway • Comprehensive metallurgical program completed: 76% WO3 recovery • Environmental Impact Statement (EIS) and
Slide 4: Resource Modelling
RESOURCE MODELLING • Resource comprises 997 mineralised intercepts: • 304 of intercepts exceed 5m @ 0.5% WO3 • 160 of these exceed 5m @ 1.0% WO3 • Average length of mineralised intercepts is 5.4m • Kriged resource estimates give smoothed grade model unsuitable for selective mining studies • Recovere
Slide 5: Watershed Mineralisation
WATERSHED MINERALISATION Coarse scheelite mineralisation under ultraviolet (UV) light in drill core Fine to coarse grained (disseminated) scheelite November 08
Slide 6: Watershed Pit Design – Stage 1
WATERSHED PIT DESIGN – STAGE 1 November 08
Slide 7: Processing Overview
PROCESSING OVERVIEW • Developed innovative ore sorting pre-concentration • Completion of gravity concentration processing • Flotation testwork program to be completed • 76% metallurgical recovery at 0.35% WO3 head grade for 450,000 tpa • Proposed flow sheet is: • Innovative • Simple • Cost effective
Slide 8: Process Flow Sheet
PROCESS FLOW SHEET November 08
Slide 9: Project Economics
PROJECT ECONOMICS • Annual Production: 118,000 mtu in exceptional quality (>65% WO3) concentrates • Current cash costs US$168/mtu • Target costs sub-US$150/mtu • Capital cost A$50 million • Modular plant design allows for upgrading production to 400,000 mtu annually November 08
Slide 10: Conclusion
CONCLUSION • Large, A$2 billion, in-ground tungsten resource • Simple, cost-effective processing • Metallurgical recovery 76% of contained WO3 • Exceptionally clean concentrate: 1,800 tpa, >65% WO3 • Stage 1: A$50 million Capex, US$168/mtu Opex • New resource model targeting sub-US$150/mtu Opex • Po
Slide 11: Competent Person Statement
COMPETENT PERSON STATEMENT “The information in this presentation that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Bruce Arthur Pertzel, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Pertzel is an employee of Vi
Slide 12: www.vitalmetals.com.au
www.vitalmetals.com.au November 08