Admiralty Resources NL · ASX:ADY
Admiralty Resources NL — Shareholder Meeting (October 2011)
49 slides from Admiralty Resources NL's shareholder meeting presentation, Oct 27, 2011
Slide 1: 2011 Annual General Meeting Investor Presentation and Proxy Results
ASX ANNOUNCEMENT Date: 27 October 2011 For personal use only 2011 Annual General Meeting Investor Presentation and Proxy Results I enclose herewith the presentation to be provided by Mr Stephen Prior, Managing Director of Admiralty Resources NL, at the Annual General Meeting of shareholders, to be h
Slide 2: Annual General Meeting Proxy Results
For personal use only Admiralty Resources NL Annual General Meeting PROXY RESULTS Collins C lli 1 & 2 Rooms,Oaks R O k on Collins, C lli 480 Collins Street,, Melbourne 27th October 2011, 2011 10.30am 10 30am (AEDT)
Slide 3: Vote totals - Proxies received
Vote totals - Proxies received For personal use only SECURITIES ON ISSUE 606,518,966 VOTES RECEIVED 121,187,460* VALID SECURITIES VOTED (%) 19.88* TOTAL SECURITIES HOLDERS CAST 493* *This vote totals report p is based on the third resolution. Proxy Results have been provided by Boardroom Pty Limited
Slide 4: Resolution: receive the financial report
Resolution 1 For personal use only To receive the financial report for the year ended 30 June 2011
Slide 5: Resolution: adopt the Remuneration Report
Resolution 2 For personal use only To adopt p the Remuneration Report p for the year ended 30 June 2011 (advisory resolution only)
Slide 6: Resolution – Proxies received: Remuneration Report
Resolution 2 – Proxies received For personal use only T receive To i the h Remuneration R i Report R VOTED % FOR 20,999,433 76.10 OPEN-USABLE – TOTAL 3,195,055 11.58 OPEN-USABLE BY CHAIR , , 1,007,700 3.65 AGAINST 3,399,293 12.32 ABSTAIN 3 043 894 3,043,894 EXCLUSIONS 78,862,123* * Shareholdings hel
Slide 7: Resolution: re-elect Professor John Ross Harper
R l ti 3 Resolution For personal use only To re-elect a Director, Professor John Ross Harper
Slide 8: Resolution – Proxies received: re-elect J. Ross Harper
Resolution 3 – Proxies received For personal use only T re-elect To l a Director, Di J. J Ross R Harper H VOTED % FOR 100,556,857 82.97 OPEN-USABLE BY CHAIR 2,903,143 2.40 AGAINST 17,727,460 17 727 460 14 63 14.63 ABSTAIN 237,620 EXCLUSIONS N/A Proxy Results have been provided by Boardroom Pty Limit
Slide 9: Resolution: elect Dr Shaoqing Li
R l ti 4 Resolution For personal use only To elect a Director, Dr Shaoqing Li
Slide 10: Resolution – Proxies received: Dr Shaoqing Li
Resolution 4 – Proxies received For personal use only T re-elect To l a Director, Di Dr D Shaoqing Sh i Li VOTED % FOR 28,643,447 , , 26.82 OPEN-USABLE BY CHAIR 74,916,568 70.15 AGAINST 3,240,750 3 240 750 3 03 3.03 ABSTAIN 2,699,030 EXCLUSIONS N/A Proxy Results have been provided by Boardroom Pty L
Slide 11: Resolution: ratify 72,000,000 shares issued
R l ti 5 Resolution For personal use only To ratify 72,000,000 shares issued to Sino Investment & Holding Pty Ltd on 29 March 2011
Slide 12: Resolution – Proxies received: ratification of share issue
Resolution 5 – Proxies received For personal use only R tifi ti off share Ratification h issue i on 29 March M h 2011 VOTED % FOR 40,998,504 88.09 OPEN-USABLE BY CHAIR 2,907,568 6.25 AGAINST 22,633,115 633 115 5 66 5.66 ABSTAIN 1,332,862 EXCLUSIONS 73,553,031* * Shareholdings held by related parties
Slide 13: The Board thanks you for your attendance and support
For personal use only The Board of Admiralty Resources NL thanks h k you for f your attendance and support. support
Slide 14: Admiralty Resources NL
y — sg ADMIRALTY sRESOURCES om, ADMIRALTY RESOURCES NL FL aie aetna Investor Presentation
Slide 15: Forward Looking Statements
F Forward dLLooking ki Statements St t t For personal use only www.ady.com.au The information in this presentation is published to provide information about Admiralty Resources NL (“Admiralty” or “ADY”) and its subsidiaries. All reasonable effort has been made to provide accurate information, but Ad
Slide 16: Agenda
For personal use only Agenda Introduction to Admiralty R Resources NL 1 2 3 4 5 Projects j Business Appendix pp Q &A walkthrough Case
Slide 17: Strategy and Objectives
St t Strategy andd Objectives Obj ti For personal use only STRATEGY: Explore and develop our iron ore project in Chile. In pursuit of this strategy, the Company's immediate objectives are to: establish structured and focussed exploration programmes targeting known anomalous areas, at Pampa Tololo
Slide 18: Projects Overview
P j t Overview Projects O i For personal use only Mineral interests in 2 countries: Australia and Chile Australia Bulman - Lead and zinc Pyke Hill - Cobalt and nickel
Slide 19: Projects Overview (Continued)
P j t Overview Projects O i (Continued) For personal use only Mi Mineral l interests i in i 2 countries: i A Australia li andd Chile Chil Chilee C 3rd Region (Atacama) Harper South and Pampa Tololo – Iron Ore
Slide 20: Projects Overview (Continued) - Harper South
P j t Overview Projects O i (Continued) For personal use only Flagship project: Admiralty Minerals Chile Pty Ltd Agencia en Chile Harper South Mariposa, La Chulula, 6 targets: S b Soberana, Negrita i Mal Pelo and La Vaca Mariposa 168m tonnes of mainly indicated resources (JORC compliant) li t) E
Slide 21: Projects Overview (Continued) - Pampa Tololo
P j t Overview Projects O i (Continued) For personal use only www.ady.com.au Flagship Admiralty Minerals Chile Pty Ltd project: p j Agencia g en Chile Pampa Tololo 3 targets: Cochrane, O’Brien, Simpson 33,455 455 hectares hectares, neighbouring Los Colorados mine, owned by Compañía Minera del Pací
Slide 22: Comparison with peers
C Comparison i with ith peers For personal use only www.ady.com.au Main iron p projects j Land Mineral Stage g Cash on Market resources1 hand2 cap3 Admiralty • Harper South 6,600 Ha 168 mt Exploration / $5m $29.1m Resources • Pampa Tololo Chile Scoping Study (ADY) Latin • Guadalupito 131,000 Ha Not
Slide 23: Cash Position
C h Position Cash P iti For personal use only www.ady.com.au Percentage P t 30 June 2011 30 June 2010 variance Cash on hand 5 033 000 5,033,000 1 261 000 1,261,000 ↑ byb 299% Liabilities / Debt Nil Nil - Cash inflows1 1,972,0002 2,882,0003 ↓ by 32% Quarterly cash burn rate 591,000 1,732,000 ↓ by 66%
Slide 24: Share Price
Sh P Share Price i For personal use only www.ady.com.au 9 8 7 6 AUD ceents 5 4 15/12/2010 capital reconstruction 3 2 1 0
Slide 25: Agenda
For personal use only Agenda Business Case 1 2 3 4 5 Introduction Projects Appendix Q &A to Admiralty Walkthrough R Resources NL
Slide 26: Iron Oxide – Magnetite versus Hematite
I Iron O Oxide id – Magnetite M tit versus Hematite H tit For personal use only Iron is the fourth most abundant element on the Earth Earth’ss crust It takes about 1.5 tonnes of iron and 0.5 tonne of coke to produce a tonne of pig iron, the raw material that comes out of a blast furnace Hemati
Slide 27: Magnetite – An Advantage Edge
M Magnetite tit – An A Ad Advantage t Ed Edge For personal use only www.ady.com.au Magnetite projects are capable of producing high grade concentrates up to 68-69% Fe Fe, which: have a higher Fe grade than many hematite iron deposits have lower impurities attract a price premium on the marke
Slide 28: Iron Ore Pricing
I Iron O Ore P Pricing i i For personal use only www.ady.com.au The World Steel Association forecasts: Steel use will grow by 6% in 2011 and 2012; and Consumption of iron will near a record of 1.5b tonnes in 2012.
Slide 29: Agenda
For personal use only Agenda Project Walkthrough 1 2 3 4 5 Introduction Business Appendix Q &A to Admiralty Case Resources NL
Slide 30: Structure of Operations - Chile
St t Structure off Operations O ti - Chile Chil For personal use only Board of Directors Stephen C. Prior Claudio Ferrada, Admiralty Resources NL Managing Director Agent of AMC* PROJECT DEVELOPMENT LEGAL AND ACCOUNTING • Exploration counsel: • Legal counsel: Goldberg Resources Noguera, Larraín, Dula
Slide 31: Location: Chilean Iron Ore Belt
Location: Chilean For personal use only I Iron O Ore Belt www ady com au www.ady.com.au Note: Map is for illustration purposes and it is not to scale www.ady.com.au
Slide 32: Existing Infrastructure
E i ti Infrastructure Existing I f t t For personal use only www.ady.com.au 6,800 hectares in the Chilean iron belt with internal roads network and no high mountain formations 46 km from the port of Huasco 7 km from the railway line owned by Ferronor S.A. and 3 km from the Pan American highway
Slide 33: Admiralty's Mineral Tenure in Chile
Admiralty’s y Mineral For personal use only It covers 6,600 Ha and Tenure in it is composed of the following groups: Chile Pampa T P Tololo l l (3,455 Ha) Harper South (2,498 Ha) Leo Sur (647 Ha) www.ady.com.au
Slide 34: Harper South
H Harper S South th For personal use only www.ady.com.au Most of the g geological g work produced p to date has been within the Harper p South concessions A review of the geological information available to date by Goldberg Resources has identified six ore bodies: Mariposa, La Chulula, Negrita,
Slide 35: Harper South – Deliveries
Harper South – Deliveries For personal use only www.ady.com.au ACTION STATUS 1. High resolution ground magnetic survey COMPLETED, AWAITING RESULTS from Quantec Geoscience Chile Ltda. 2. Diamond drilling programme of Proposals received, commencement 10 holes/2,850 metres in Mariposa SCHEDULED FOR NOV
Slide 36: Mariposa (Harper South)
M i Mariposa (Harper South) For personal use only www.ady.com.au Exploration area is approximately 600 x 350 metres Drilling data available consists of a total of 5,588 m of drillings, distributed in 33 drill holes OBJECTIVES: 1. Increase of mineral resources / upgrade of existing resources to
Slide 37: Other Targets (Harper South)
Oth T Other Targets t (Harper South) For personal use only www.ady.com.au Target Data on hand Work to be performed • High resolution magnetic survey - COMPLETED La Chulula None • 3,000 m of reverse circulation drilling 3 old drill holes • High resolution magnetic survey - COMPLETED g Negrita t t lli
Slide 38: For personal use only
13 anomalies identified within the 1960s United Atacama For personal use only Fault Nations Survey: y 4 - Chile’s C o i iron belt b l c h r a n e 5 – O’Brien Owned by Admiraltyy 2 - Simpson
Slide 39: Chile - Pampa Tololo
Chil - Pampa Chile P T Tololo l l For personal use only www.ady.com.au Pampa Tololo lies 40 km north of Vallenar and it covers 3,455 hectares It is located at 200 metres from Los Colorados mine, owned by CMP, the main iron ore pproducer in Chile Chile ranks 16th iron ore producer country in th
Slide 40: Pampa Tololo – Deliveries
Pampa Tololo – Deliveries For personal use only www.ady.com.au ACTION STATUS 1. High resolution ground COMPLETED magnetic survey AWAITING RESULTS from Quantec Geoscience Chile Ltda. 2. Reverse circulation Proposals received drilling programme of 10 holes / 3,000 metres Commencement of drilling for f
Slide 41: Summary - Exploration Timetable
S Summary - Exploration E l ti Timetable Ti t bl For personal use only www.ady.com.au ALLOCATED PROJECT TASK COMPLETION BUDGET Pampa Tololo High resolution ground magnetic survey $60,000 Completed. Awaiting results. Harper South S h High i h resolution l i groundd magnetic i survey $40 000 $40,000 C
Slide 42: Australia – Bulman
A t li – Bulman Australia B l For personal use only www.ady.com.au Lead and zinc pproject, j , 320 km from Katherine (NT) ( ) 2 granted mineral explorations licences and 2 mineral leases, covering 250 km2 Located in the McArthur Basin, Basin well-known for hosting lead and zinc leading operati
Slide 43: Australia – Bulman (Continued)
Australia – Bulman (Continued) For personal use only www.ady.com.au Recommendations for future exploration: Conduct an airborne aeromagnetic survey – commissioned to Fugro Airborne Surveys in August 2011 STATUS: COMPLETED – AWAITING RESULTS Aircore drillingg pprogramme g of new anomalies and r
Slide 44: Australia – Pyke Hill
Australia – Pyke Hill For personal use only www.ady.com.au The Pyke Hill Project is located approximately 40km from the Murrin Murrin nickel operations, near Leonora, WA Admiralty has a 50% interest in the mining lease. Cougar Metals NL (ASX:CGM) is i the operator e t off the project je t Pros
Slide 45: Agenda
For personal use only Agenda Appendix 1 2 3 4 5 Introduction to Business Projects Q &A Admiralty Case Walkthrough Resources NL
Slide 46: Cash Inflows – Royalty Stream from VIC
Cash Inflows – Royalty Stream from VIC For personal use only www.ady.com.au SCM Vallenar Iron Companyp y (“VIC”), ( ) a former subsidiaryy of Admiralty, y was sold to Australis Miningg Ltd (“Australis”) (formerly Icarus Derivatives Ltd) in a transaction approved by Admiralty shareholders and complet
Slide 47: Corporate Directory
Corporate Directory For personal use only www.ady.com.au BOARD OF DIRECTORS CONTACT Professor J. Ross Harper, Chairman Level 16, 379 Collins Street, Stephen C. Prior, Managing Director Melbourne VIC 3000, Australia Michael S. Perry, y, Non-executive Director Dr Shaoqing Li, Non-executive Director Te
Slide 48: Product Quality
Product Quality For personal use only Specification Fe ............... 64.02 PCT Silica ............ 5.92 PCT Aluminium ... 1.35 1 35 PCT Phosphorus ... 0.05 PCT Sulphur .........0.04 PCT www ady com au www.ady.com.au www.ady.com.au
Slide 49: Questions & Answers
For personal use only Q Questions & Answers
Admiralty Resources NL — Shareholder Meeting (October 2011) on 6ix