First Quantum Minerals Ltd. · TSX:FM
First Quantum Minerals — Merger or Acquisition (January 2006)
17 slides from First Quantum Minerals's merger presentation, Jan 18, 2006
Slide 1: First Quantum Minerals Ltd. - Building an intermediate low cost mining company
LN \@ FIRST QUANTUM “um LTD. Building an intesteee Tow cost mining company Ue or Rost neo a aa
Slide 2: Forward-looking statements
Some of the statements contained i forward-looking statements and not statements are based on the current beli well as assumptions based on management i available. Forward-looking statements are subject uncertainties and other factors that could caus: differ materially from expected results. Readers
Slide 3: Financial promotion notice for UK recipients
‘The content of these presentation materials (the “Presentation ri authorised person pursuant to Section 21 of the Finanwiat Services accordingly, ate only being directed at persons in the United Kingdom contained in Asticles 19 and 49 of the Financial Services and Markets 2005 (“Financial Promotion
Slide 4: Informational purposes notice and take-over bid circular
This material is for intormational purposes only an: over bid ciroular, which will be filed on SEDAR. and or the circular andany other materials relating to the Off F-80 and tender offer statement on Schedule 14D-1F information. securities, nor shall there be any'sale of securities in-any ju salewou
Slide 5: Operations
Operations
Slide 6: Transaction Summary: FM offers to acquire AAA
Transaction Summ: 4 FM offers to acquire AAA: * 1 FM common share for e. * Implied offer price of C$ 2.23 * Total consideration of C$ 189. + Structure: © 35 day take-over bid * Minimum 2/3 tender condition 4 Pro Forma Ownership: 4 Offer represents a premium’ of 24% over TSX closing price on — Jan 17
Slide 7: Acquisition Highlights
Acquisition Highli Creates immediate and long tem val Offers AAA shareholders the op expertise will allow optimal development of the Kolwe: project Further establishes FM's franchise in the Copperbelt
Slide 8: January 18, 2006 announcement
4 January 18, 2006 announcem = Transaction materials to be rn «Expected closing in March
Slide 9: Kolwezi tailings project is a high quality near term development project
Kolwezi tailings projectis a hi & 0.32% Co) near term devel: exhausted Bwana Mkubwa tailing FM has proven development exp ise particular tailings re-treatnent pro} FM has the financial strength to develop the Kol rapid timeline Strengthens FM's industry leading portfolio of SS projects and ensures c
Slide 10: FM will re-engineer the development plan for Kolwezi
(97% measured under JORC) 4 FM will re-engineer the development plan f incorporating operational expertise gained t successful Bwana Mkubwa tailings re-treatment op well as the current SX/EW operations at Bwana Kansanshi 4 FM will also utilize its ten years of experience in the production. of sulphu
Slide 11: FM has been operating in the DRC
FM has been operating in the First new investment in the DRi Lonshi copper mine in 2001 Construction to begin on new Frontier coy 2006 (subject to Board approval) Longstanding and constructive reletenenins wi authorities Over 18,000 square kilometers of exploration concessions
Slide 12: Exploration Portfolio
& FIRST OU Exploration Portfolio Kolwezi Kinonbo m Maine Mie hana Mine Bana Meubwe
Slide 13: Development Projects
Development Proje Bl - Financing & teasibitity Oo Construction (subject to positive feasibility and project finance) [By - commercial production < B
Slide 14: Potential Copper Production
Potential Copper Pr includes Guelb Moghrein, Fi (thousand tonnes) 2002 2003 2004 2005(e) _-2006(e) _—_ 2007/6) __2008(e) = Bwana Mkubwa/Lonshi Kansanshi %Guelb Moghrein Frontier = Kolwezi
Slide 15: Value Creation For AAA shareholders
Value Creation For a 17, 2006 and 31% over Dec 14 Opportunity to participate in FM wit and growth : Opportunity to participate in FM which has proven and operational expertise in the Copperbelt Increased financial strength and management c maximize value of operating mines, development proj explorat
Slide 16: Acquisition Highlights
Acquisition Highli + Creates immediate and long t 4 Offers AAA shareholders the op FM's diversified portfolio 4 Combines FM's proven strengths and capa development with AAA's attractive project portt 4 FM's financial strength and proven operating & value of the Kolwezi tailings project through devel
Slide 17: First Quantum Minerals Ltd.
LN \@ FIRST QUANTUM “um LTD. Building an intesteee Tow cost mining company Ue or Rost neo a aa
First Quantum Minerals — Merger or Acquisition (January 2006) on 6ix