Image Resources Nl · ASX:IMA
Image Resources Nl — 121 Mining Investment Hong Kong 2017
35 slides from Image Resources Nl's conference presentation, Oct 16, 2017
Slide 1: Boonanarring Mineral Sands Project: The next cab off the mineral sands rank
1 Boonanarring Mineral Sands Project: For personal use only The next cab off the mineral sands rank 121 Mining Investment 17-18 October 2017 Grand Hyatt Hotel Hong Kong Patrick Mutz Managing Director Image Resources NL ASX: IMA
Slide 2: Forward Looking Statement
Forward Looking Statement 2 For personal use only Certain statements made in connection with this communication, including, without limitation, those concerning the economic outlook for the mining industry, expectations regarding prices, exploration or development costs and other operating results,
Slide 3: Company Description and Focus
Company Forward Description Looking and Focus Statement 3 For personal use only Image Resources NL ASX: IMA Emerging mineral sands producer Actively focused on fast-tracking the development of its 100%-owned, high-grade and high-zircon flagship Boonanarring mineral sands project in the North Perth B
Slide 4: Project Location
ProjectStatement Forward Looking Location 4 For personal use only LOCATION North Perth Basin in Western Australia 80 km north of Perth CBD Proven mineral sands address Including majors Iluka and Tronox Infrastructure rich paved roads, power, gas pipeline water, telecommunications etc.
Slide 5: Projects Types and Locations
Projects Types and Locations 5 For personal use only 1,000 km2 tenements portfolio 100% focus on mineral sands Strandline (dry open cut mining) projects Dredge mining projects
Slide 6: Projects Pyramid - Dredgeable
Projects Forward Pyramid Looking - Dredgeable Statement 6 For personal use only Mineral Resources – Accessible by Dredge Mining Projects ranked by HM Grade 25-67% Leucoxene; 90+%VHM; Bidaminna <5% slimes; 45Mt; 3.0%HM; 100Mt exploration 6.5% Zr+Ru target Titan-Telesto 140Mt; 1.9%HM; 12.8% Zr+Ru Caly
Slide 7: Projects Pyramid - Strand Deposits
Projects Forward Pyramid Looking – Strand Deposits Statement 7 For personal use only Mineral Resources – Accessible by Dry Open-Cut Mining Projects ranked by combined Zircon plus Rutile Boonanarring Focus 43.8Mt; 5.6%HM; of BFS 20.7% Zr+Ru Atlas 18.1Mt; 6.0%HM; 15.8% Zr+Ru Red Gully 6.0Mt; 7.7% HM;
Slide 8: Boonanarring Project Comparison
Boonanarring Project Comparison 8 For personal use only High HM, VHM and Zircon grades relative to peers HM grade Zircon grade VHM HM Grade (%) Zircon (%) 14.0% 25% VHM Grade Zircon % Image Resources (IMA) Boonanarring project 12.0% 21.5Mt @ 8.3% HM and up to 24.5% Zircon 20% 10.0% 15% 8.0% 6.0% 10%
Slide 9: Ore Reserves
Ore Reserves Forward Looking Statement 9 For personal use only QUALITY ORE RESERVES JORC Code (2012) Compliant High HM, VHM and very high zircon at Boonanarring High Grade Ore Reserves - Strand Deposits; in accordance with the JORC Code (2012) Project/Deposit Category Volume Tonnes % HM % Slim
Slide 10: Ore Reserves Comparison
Ore Reserves Forward LookingComparison Statement 10 For personal use only IMAGE Source: TZMI; May 2017
Slide 11: Bankable Feasibility Study - Base Assumptions
Bankable Forward Feasibility Looking Study Statement 11 For personal use only Base Assumptions Start mining at Boonanarring Dry, open-cut mining Production rate - 500 dry tonnes per hour • 3.7M dry tonnes per year Conventional gravity separation using spirals Product: Heavy Mineral Concent
Slide 12: Bankable Feasibility Study - Key Financial Metrics
Bankable Forward Feasibility Looking Study Statement 12 For personal use only Key Financial Metrics Pre-Tax NPV A$135M (8% discount rate) Pre-Tax IRR 64% Mine life 8+ years Project capital cost A$52M includes ~$8M for land Payback period 22 months
Slide 13: Project Capital Comparison
Project Forward Capital Looking Comparison Statement 13 For personal use only Source: TZMI; May 2017
Slide 14: Start-up Capital / Revenue Ratio
Start-up Forward Capital Looking / Revenue Ratio Statement 14 For personal use only Source: TZMI; May 2017
Slide 15: Sensitivity Analysis
Bankable Forward Feasibility Looking Study Statement 15 For personal use only Sensitivity Analysis
Slide 16: Commodity Prices Rising
ActualLooking Forward Commodity Prices Rising Statement 16 For personal use only
Slide 17: Commodity Prices Rising
ActualLooking Forward Commodity Prices Rising Statement 17 For personal use only
Slide 18: Commodity Prices Rising
ActualLooking Forward Commodity Prices Rising Statement 18 For personal use only
Slide 19: Commodity Prices Rising
ActualLooking Forward Commodity Prices Rising Statement 19 For personal use only
Slide 20: Other Key Project Metrics
Bankable Forward Feasibility Looking Study Statement 20 For personal use only Other Key Project Metrics Binding offtake contract for heavy mineral concentrate (HMC) • 100% of HMC production for life of project • Market-based pricing model • Full credit for TiO2 products • No minimum product specif
Slide 21: Plant and Equipment (select examples)
Plant and Equipment (select examples) 21 For personal use only Wet Concentration Plant Mineral Separation Plant (Option) Slurry Booster Stations & pipelines Power poles, wires & transformers HMC Stackers Mine Slurry Unit Plus much, much more.
Slide 22: Image Wet Concentration Plant
Image Wet Forward Concentration Looking Statement Plant 22 For personal use only
Slide 23: Upside Potential
Upside Looking Forward Potential Statement 23 For personal use only Upside potential at and near Boonanarring Confirmed potential to extend mine life with high grade mineralisation (ASX announcement 13 March & 26 June 2017); • Assuming mineralisation in extension area is identical to known Ore Res
Slide 24: Boonanarring Deposit Extensions
Boonanarring Deposit Extensions 24 For personal use only ASX - 13 March & 26 June 2017 New Drilling Results (Feb 2017) Confirm 5.6km northern extension of Boonanarring mineralisation Outstanding high grade intersections: 8m @ 23.8% HM in IX00245 8m @ 21.1% HM in IX00244 and 8m @ 16.3% HM i
Slide 25: Potential Royalty from Tronox
Potential Royalty from Tronox 25 For personal use only Royalty agreement in place as of A$50,000 cash received Sliding-scale royalty on production Avg. HM Grade Royalty 2.5% 1.25% 3.0% 2.50% 3.5% 3.75% 4.0% 5.00% Potential for future arrangements with Tronox or others based on large area of po
Slide 26: Project Approvals
ProjectStatement Forward Looking Approvals 26 For personal use only PROJECT APPROVALS Mining Lease & General Purpose Lease Part IV, Environmental Protection Act (WA) – PER EPBC Act (Commonwealth) Land acquisition for processing plant siting and start of mining Groundwater Abstraction Lic
Slide 27: Project Development Schedule
Project Development Schedule 27 For personal use only Targeting first production mid-2018 Simplified Boonanarring Project Development Schedule - (high level) 2017 2018 May May Mar Mar Aug Aug Nov Nov Apr Apr Dec Dec Feb Feb Sep Sep Oct Oct Jun Jun Jan Jan Jul Jul Finalisation of Transaction Complete
Slide 28: Transition from Explorer to Producer
Contact from Explorer to Producer Transition 28 For personal use only Generalisation of Transition from Explorer to Producer 10 9 Production 8 (realisation Discovery Project 7 of full value) & Resource Development 6 Delineation (feasibility Relative Value Study Period 5 (excitement; (uncertainty; re
Slide 29: Corporate Snapshot
Corporate ImageSnapshot Corporate Snapshot 29 For personal use only Diverse and experienced Board and Management Share Code: IMA Board of Directors Share Price: A$0.09* Bob Besley – Independent Chairman 12 Month Price Range: A$0.04 – 0.12 Patrick Mutz – Managing Director Shares on Issue: 571.3m Chao
Slide 30: Contact
Contact For further information 30 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
Slide 31: Compliance Statements
Compliance Statements Forward Looking Statement 31 For personal use only COMPLIANCE STATEMENT FOR EXPLORATION Information in this presentation that relates to Exploration Results is based on information compiled by George Sakalidis BSc (Hons) who is a member of the Australasian Institute of Mining a
Slide 32: Mineral Resources - Strand Deposits 1 of 2
Mineral Forward Resources – Strand Deposits Looking Statement 32 For personal use only Strand Deposits 1 of 2 High Grade Mineral Resources - Strand Deposits; in accordance with the JORC Code (2012) @ 2.0% HM Cut-off Project/Deposit Category Volume Tonnes % HM % Slimes HM Tonnes VHM Ilmenite Leucoxen
Slide 33: Mineral Resources - Strand Deposits 2 of 2
Mineral Forward Resources – Strand Deposits Looking Statement 33 For personal use only Strand Deposits 2 of 2 Previously Reported Mineral Resources - Strand Deposits; in accordance with JORC Code (2004) @ 2.5% HM Cut-off Project/Deposit Category Volume Tonnes % HM % Slimes HM Tonnes VHM Ilmenite Leu
Slide 34: Mineral Resources - Dredge Deposits
Mineral ForwardResources – Dredge Deposits Looking Statement 34 For personal use only Dredge Deposits 1 of 1 Previously Reported Mineral Resources - Dredge deposits; in accordance with JORC Code (2004) @ 1.0% HM Cut-off Project/Deposit Category Volume Tonnes % HM % Slimes HM Tonnes VHM Ilmenite Leuc
Slide 35: Compliance Statement Mineral Resources
Forward Looking Compliance Statement Statements Mineral Resources 35 For personal use only COMPLIANCE STATEMENT FOR MINERAL RESOURCES 1. COMPLIANCE STATEMENT Boonanarring/Atlas Mineral Resources The information in this presentation that relates to the estimation of Mineral Resources is based on info
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