Thor Energy Plc · LSE:THR
Thor Energy — Thor Mining — Investor Presentation (November 2013)
15 slides from Thor Energy's investor presentation, Nov 21, 2013
Slide 1: Investor Presentation
ASX Code: “THR” 21 November 2013 Company Announcements Office, For personal use only ASX Securities Limited, THOR MINING PLC 20, Bridge Street, Registered Numbers: Sydney, N.S.W. 2000 United Kingdom 05 276 414 Australia 121 117 673 Investor Presentation Registered Office: Level 1 The Directors of Th
Slide 2: Mick Billing – Chairman & Chief Executive Officer
For personal use only Mick Billing – Chairman & Chief Executive Officer Tel: +61 8 7324 1935 Fax: +61 8 8351 5169 Email: mbilling@thormining.com Address: Level 1, 32 Richmond Road, KESWICK, SA, 5035, AUSTRALIA www.thormining.com 1
Slide 3: Disclaimer & Legal Notice
Disclaimer & Legal Notice This document and all other information (whether in writing or otherwise) which may be made available is: 1. Supplied solely for the intended recipient and may not be copied, reproduced, further distributed to any other person or published, in whole or in part, for any purp
Slide 4: Corporate: Board & Management
Corporate BOARD & MANAGEMENT For personal use only Directors • Mick Billing - Chairman & CEO • Trevor Ireland - Director • Greg Durack - Director • Mick Ashton - Director • Dave Thomas - Director Management Richard Bradey - Expl Mgr Allan Burchard - CFO & Co Sec EXCHANGE LISTINGS ASX “THR” AIM “THR”
Slide 5: Location / Ownership
Location / Ownership Access via sealed road along Thor Mining PLC listed in London For personal use only Stuart Highway, then partially (AIM) and Australia (ASX) sealed Plenty Highway. Molyhil Mining Pty Ltd is 100% owned by Thor Molyhil Mining has 100% of Molyhil project Thor also owns TM Gold Pty
Slide 6: Feasibility Study Upgrade
Feasibility Study Upgrade OBJECTIVES For personal use only Improve the Molyhil cost parameters to drive increases in: • Ore reserve • Project life • Financial outcomes PLUS Exploration upside to further enhance project outcomes Recent off-take undertaking & optimisation initiatives are projected to
Slide 7: Feasibility Study Upgrade
Feasibility Study Upgrade Potential For personal use only • 2012 DFS showed that a 7% improvement in revenue factors extends the ore reserve from 1.6 million tonnes to 2.5 million tonnes, and mine life extends from 4 years to 6 years. Approach • Internal Thor modelling suggests this can also be achi
Slide 8: Revised Operating Costs
For personal use only Revised Operating Costs Costs per tonne ore processed A$ DFS Adjustment* Revised June 2012 Mining 24.23 (4.24) 19.99 Plant inc' labour 28.93 (5.77) 23.16 Power / Water 19.68 (5.42) 14.26 Camp 7.10 (1.84) 5.26 Admin 3.45 3.45 Transport 0.78 0.78 Scheelite re-float** 5.35 5.35 To
Slide 9: Revised Capital Costs
Revised Capital Costs DFS Cost Estimates A$M DFS Saving Additional Revised For personal use only Identified Plant Mining Plant - - 5.8 5.8 Process Plant 33.0 2.1 1.5 32.4 Site Services 7.7 3.7 2.2 6.2 Project Infrastructure 2.7 1.9 0.8 Village & Accommodation 3.2 1.0 2.1 4.3 Other 0.3 0.3 Total Dire
Slide 10: Optimisation Program
Optimisation Program Initiative For personal use only • Owner operate mining rather than contract mining • Pre concentration - XRay ore sorting to reduce mill feed by 30% • Power Supply & Camp purchase rather than lease • Other Capex savings based upon quoted work & Thor research Outcomes • Lower co
Slide 11: Commodity Pricing
For personal use only Commodity Pricing (Source: Metal-Pages.com) TUNGSTEN PRICING REMAINS FIRM WITH OUTLOOK POSITIVE 10
Slide 12: Off-take Agreement
For personal use only Off-take Agreement Letter of Intent from US Global Tungsten & Powders (GTP) for 70% to 75% of tungsten concentrate production • Pricing benchmarked against London Metal Bulletin European spot price • GTP one of the top 3 non-Chinese tungsten processors Discussions in progress r
Slide 13: Project Permitting
Project Permitting • Notice of Intent (NOI) complete For personal use only • Public Environment Report (PER) complete • Mining Management Plan (MMP) - accepted in 2008 but resubmitted in June 2012 as a result of changes to scope and to environmental standards. Provisional approval offered. • Risk Ma
Slide 14: Project Timetable
Project Timetable Q4 Q1 Q2 Q3 Q4 Q1 Q2 For personal use only 2013 2014 2014 2014 2014 2015 2015 Public Environment Report **Complete Agreements with T/O’s **Complete Definitive Feasibility Study **Complete (Revision in progress) MMP Approval Offtake Agreements Finance Agreements Detailed Design Site
Slide 15: Exploration Upside
Exploration Upside • Molyhil is in a tungsten rich For personal use only province • 27 known outcropping tungsten occurrences within economic trucking distance • Zero tungsten exploration activity in the region since the 1970’s • Opportunity to turn these, and others into additional feedstock for Mo