Minera Irl Limited · CSE:MIRL
Minera Irl — Investor Presentation (April 2008)
31 slides from Minera Irl's investor presentation, April 2008
Slide 1: April 2008 Update
April 2008 Update By Courtney Chamberlain & Francis O’Kelly
Slide 2: Disclaimer
Disclaimer This Presentation has been p prepared p byy Minera IRL Limited ((the “Company”). p y ) The information and opinions p contained in the Presentation are provided as at the date of this Presentation and are subject to change without notice and in furnishing the Presentation, the Company nei
Slide 3: Major achievements in past 12 months
MINERA IRL Major achievements in past 12 months • Listed on AIM, 12 April p 2007, raised $23m • Constructed Corihuarmi Gold Mine – first gold ld pour 15 M Marchh 2008 • Signed Surface Rights Agreement at Ollachea – Exploration in full swing • Listed in Lima - enhanced share liquidity • Acquired Oxap
Slide 4: Minera IRL Limited, A New Public Company 2007
Minera IRL Limited, A New Public Company 2007 • Listed on the London Stock Exchange (AIM) in April 07 • Raised US$23m from institutional investors. investors Market capitalization at IPO US$58m. • S Secondary d li ti listing on the th Bolsa B l ded Valores V l d Lima de Li (Li (Lima Stock Exchange)
Slide 5: BVL Experience
BVL EXPERIENCE • BVL comprise 46% mining securities • No capital gains tax • Compliance identical to AIM • MIRL trades at a premium on BVL • Transaction clear through custodian JP Morgan and Crest (T3) • Elevation to Tier I Category on BVL listing later this year Page 5
Slide 6: MIRL Share Price Performance since IPO
MIRL Share Price Performance since IPO 70 3500 60 3000 50 2500 Volume ((000s) ce (p) 40 2000 Share Pric 30 1500 20 1000 10 500 0 0 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 7 8 8 8 8 8 8 8 pr 0 pr 0 ay 0 ay 0 n 0 n 0 ul 0 ul 0 g 0 g 0 g 0 p 0 p 0 ct 0 ct 0 v 0 v 0 c 0 c 0 n 0 n 0 n 0 b 0 b 0 ar 0 ar 0 A A
Slide 7: MIRL Performance (Rebased)
MIRL Performance (Rebased) ( ) April2008 Page 7
Slide 8: MIRL Projects
Venezuela MIRL Projects Colombia Ecuador Cushuro Peru Oxapampa z z Brasil Corihuarmi Lima z z Antabamba z z Bolivia Ollachea z z Chile Frontera Pacific Ocean z z Santiago Argentina Buenos Aires 0 500 1000 Km April 2008 Page 8
Slide 9: Production
April 2008 = A Golden Opportunity in ». Page 9}
Slide 10: Corihuarmi Deposits
SUSAN SUSAN DIANA Corihuarmi Deposits April 2008 Page 10
Slide 11: Corihuarmi Crusher
Corihuarmi Crusher April 2008 Page 11
Slide 12: Corihuarmi Heap Leaching
Corihuarmi Heap Leaching April 2008 Page 12
Slide 13: Corihuarmi
Corihuarmi • Low cost heap leach gold extraction process • Process 1 million tons ore per year to produce 30-35,000 p , oz Au per p annum • Measured reserves for 4.5 year life – objective to extend mine life • Capital investment expected to be recovered in 1 year • Operating cost US$300/oz for 2008
Slide 14: Corihuarmi Gold Leverage
Corihuarmi Gold Leverage • Feasibility at $550/oz • No hedging, full exposure to gold upside id • Adds US$11million in LOM pre-tax cash for every US$100/oz rise in gold price April 2008 Page 14
Slide 15: Corihuarmi Exploration Potential
Corihuarmi Exploration Potential • Depth potential at Susan • Ore grade drill intersections along the ridge to NW • Haul road exposed 2 new breccias zones, one grading 4.6g/t over 10m • Mine area drilling about to commence • 9,318 , ha regional g lease coverage g with encouraging discovery potential
Slide 16: MIRL Exploration
MIRL Exploration April 2008 Page 16
Slide 17: Ollachea Project
Ollachea Project • Core MIRL project in emerging gold district of Southern Peru • Concessions of 10,299 ha (8,999 ha acquired acqu ed from o Rioo Tinto) o) • Surface Rights Agreement signed with local community (Dec 2007) • Initial IRL geological appreciation supports RTZ’s RTZ s assessment of major
Slide 18: Ollachea Historical Drilling
Ollachea Historical Drilling Drill Holes (1998) by Peruvian G Gold Limited Length Au Hole ID OBSERVATIONS m. g/t DDH1 71.1 0.47 DDH2 43.8 0.90 DDH3 129.1 0.74 Includes 18m @ 2.08g/t Au DDH4 73.5 1.04 Includes 24m @ 3.02g/t Au DDH5 50.7 0.56 Includes 22m @ 1.02g/t Au All the holes bottomed in mineral
Slide 19: Ollachea Project
Ollachea Project The mineralised meta-sedimentary package k exceedsd a kil kilometre t iin length and is at least 400m thick. Workings of informal miners. April 2008 Page 19
Slide 20: Oxapampa Project
Oxapampa Project • Option to earn 100% of the project • Mineralized system of 5 x 500m quartz veins up to 2m wide reportingg bonanza grades >1 oz/t Au from preliminary surface sampling • Historical workings on the property • Exploration to commence in April 08 April 2008 Page 20
Slide 21: Other Projects
Other Projects • Cushuro concession (4,478 ha) has drill targets currently being reassessed targets, • Antabamba new JV with Alturas (9,934 ha), Au-Cu scarn targets targets, MIRL retains 20% free carry, drilling about to commence • Frontera JV with TeckCominco (1 (1,200 200 ha) adjacent to Minsur’s
Slide 22: Community Relations
Community Relations • Pro-active community relations programs at Ollachea, Corihuarmi and Cushuro actively i involving l i senior i managementt • Creative programs for sustainable development including animal husbandry husbandry, pisciculture, crop improvement and irrigation • Construction of Commun
Slide 23: MIRL Summary
MIRL SUMMARY • Demonstrated ability to build mines and develop mineral resources • Exciting portfolio of projects with aggregate area of 31 31,312 312 ha • Strong cash flow to underwrite exploration and development • D di t d tteam off seasoned Dedicated d professionals, f i l mostly tl permanentt r
Slide 24: A Golden Opportunity
= A Golden Opportunity in
Slide 25: Appendices
APPENDICES April 2008 Page 25
Slide 26: MIRL Executives
MIRL Executives Courtney Chamberlain * Diego Benavides * EXECUTIVE CHAIRMAN VICE PRESIDENT, Metallurgist. 40 years CORPORATE. world wide experience in Corporate lawyer. senior executive positions in Experience in legal and mining industry. business transactions in Peruvian mining industry. Richard M
Slide 27: MIRL Executives (con't)
MIRL Executives (con’t) Stuart Smith Bill Hogg * TECHNICAL MANAGER VICE PRESIDENT, Metallurgist specialising in DEVELOPMENT gold extractive technology. Mechanical engineer. 34 20 years international years professional experience. experience in international mining construction projects Francis O’Kel
Slide 28: Peru Economic Statistics
Peru Economic Statistics • North American Free Trade Agreement Approved Dec. Dec 2007 2005 2006 2007 2008 GNP 6.4% 8.0% 7.9% 7.0% INFLATION 1.49% 1.14% 3.93% EXPORTS (US$ Millions) 17,000 23,457 27,560 (E) 32,000 MINE EXPORTS (US$ Millions) 9,724 18,523 16,915 COMMERCIAL BALANCE 6,055 8,211 8,934 UN
Slide 29: Sustainable Projects & Community Assistance Sponsored by MIRL
Sustainable Projects & Community Assistance Sponsored by MIRL • Programs to develop local resources to supply agricultural products to the mine • Trout farms, farms forestation programs programs, Quinua (native high protein grain) planting program • Proposed community operated petrol filling station
Slide 30: BVL Experience
BVL EXPERIENCE • Listed on the BVL 11/12/07 • Traded 2 million shares in 230 individual transaction in first two d days off trading, di average off 61 daily d il transactions i through h h March M h • BVL Share Trading Volume (millions) (2008) Page 30
Slide 31: Gold Price and projected life of mine costs at Corihuarmi
Gold Price U US$ 3500/ ouncee projectted life of mine e costs at Corihua c armi April 2008 Page 31