40 slides from Resource Minerals International's shareholder meeting presentation, Nov 29, 2004
Slide 1: Annual General Meeting November 2004
Slide 2: Contents
Contents « Corporate Overview » Management Team « Iron Ore Market » ASX Iron Ore Producers » Argyle Iron Ore Project » Deposits & Mining Concept » Road Transport & Port Facilities » Wowo Gap Project (PNG) » Musgrave Project (WA) » Summary
Slide 3: Corporate Overview
Corporate Overview Market Information RESOURCE MINING CORPORATION Market Capitalisation $12m Shares on Issue 204m (Post Consolidation) Options ($0.20 exp June 06) 162m Cash $0.9m 7 trammoes! *) Cape Lambert? nor a Strategic Shareholders Stemcor Australia 5.0% ! Mt Gibson Iron 5.0% PA ae 1 Sinom (Hon
Slide 4: Management Team
Management Team Experienced iron ore team...... Saby Jholl Chairman Ed Edwards | Managing Director Warwick Technical Director Davies Chris Consulting Geologist - Hematite Consultants Pty Ltd Robinson Martin Mackay & Schnellmann Pty Ltd —- Geological and Mining Reynolds Consultants
Slide 5: Ed Edwards - Managing Director
Ed Edwards - Managing Director * Ed Edwards is a Chartered Accountant with a Bachelor of Commerce from the University of Western Australia. He is a fellow of The Australian Institute of Company Directors. * Ed was a partner at Hendry Rae & Court (now Grant Thornton) until 1989 having joined that fir
Slide 6: Warwick Davies — Technical Director
Warwick Davies — Technical Director + Warwick Davies, self employed Marketing Consultant with forty years experience in the Iron and Steel Industry including a variety of technical and commercial roles with BHP Steel (Newcastle and Whyalla), Hamersley Iron (Dampier) and Robe River Mining Co (Cape La
Slide 7: Chris Robinson - Consultant
Chris Robinson - Consultant * Chris Robinson — Principal Consultant, Hematite Consultants Pty Ltd. * Chris has over 30 years involvement in the Australian and international iron ore industry, including senior technical, operating, management and customer liaison roles. * Hematite Consultants offers
Slide 8: Iron Ore Market
lron Ore Market
Slide 9: Iron Ore Price Forecasts
lron Ore Price Forecasts
Slide 10: ASX Iron Ore Producers
ASX lron Ore Producers lron Ore Iron Ore Market Company Production | Resource Ca Comments Mtpa__| Mt(JORC) P BHP Biliton 3 large $40b | Major WA mines Rio Tinto 104 large $40b | Major WA mines Portman 8 94 $418M | Expanding operations Fortescue nla nla| $130M| Exploration; Capital cost $1.3b Mt Gibs
Slide 11: Argyle Product Comparison
Argyle Product Comparison ‘Typical’ Fines Chemistry of Competing Australian Ores lron Ore Product — Grades & Gangue Levels (%) Ore Types Fe Sid2 Al2Os Pp Argyle (RMC ~— estimate) 62.5 5.60 2.00 0.02 Koolan Fines (Aztec) 64.8 2.30 0.40 0.02 Robe River 57.3 5.24 2.62 0.04 Mt Newman (BHP) 63.4 4.30 2.3
Slide 12: Iron Ore Deposits - Exploration History
lron Ore Deposits - Exploration History « The Argyle Iron Ore Project is based on the supergene-enriched iron ores within the Golden Gate Siltstone north of Turkey Creek. « The mineralisation was identified during the late 1950’s and investigated during the 1960’s and early 1970’s when exploration t
Slide 13: Exploration License 80/2389
Exploration License 80/2389 ‘inne i ee eA Vs + Sao foe ane
Slide 14: Deposit Geology
Deposit Geology » The iron mineralisation at « Economic mineralisation the Argyle iron ore deposits has formed through is located within the lower supergene enrichment part of the Golden Gate (leaching of silica etc) of Siltstone, a 50m thick the original ferruginous sedimentary unit in the sandston
Slide 15: Porous Hematite Ore Samples
Porous Hematite Ore Samples Argyle iron ore is expected to produce a high (>50%) lump ore component.
Slide 16: Looking South Along Sam Deposit
Looking South Along Sam Deposit ie g LD
Slide 17: Diagrammatic Section - Sam Deposit
Diagrammatic Section - Sam Deposit 1.7m @ELOR Fe 1.4m @ 55.5% Fe Drill hole data from 1960’s Kanematsu Gosho drilling
Slide 18: Resource Evaluation
Resource Evaluation » Previous sampling and drilling is insufficient for evaluation of the resource for today’s markets. « An evaluation program has been implemented by RMC which includes: » Stage 1: RC drilling at 400m x 40m centres across the area of known high grade resource. » Stage 2: Infill dr
Slide 19: 2005 Drilling Campaign
2005 Drilling Campaign y i 2 . a a ie 420000mE eee ) oO ay ee Mie ee We 8 7 Le ae a. : i, ae ) ) DO anions. “Stage 1” Drilling Program “Stage 2” Drilling Program i ce
Slide 20: Mining Concept — 1.5M/tpa
Mining Concept — 1.5M/tpa Minimal overburden, ore horizon dips 10 to 15 degrees to East. Waste to Ore Ratio < 0.5:1 » Contractor Operation « Front End Loader, 35/45 ton trucks « Crushing & Screening operation at mine » Mine Operations possible single-shift with ore haulage to port on 24 hrs/day basi
Slide 21: Sam Deposit Looking South
sam Deposit Looking South Cee ee a
Slide 22: Road Transport
Road Transport « Ore hauled from mine to Port of Wyndham in Road Trains (triple trailer combinations) carrying approximately 100 tons per load. » Road conditions are excellent with a wide two lane sealed carriageway from within 7 km of mine to Port. « Potential road closures may occur 3 or 4 times p
Slide 23: Typical Three Trailer Road Train
Typical Three Trailer Road Train
Slide 24: Typical Side Dumping Trailer
Typical Side Dumping Trailer L oy yo z i Tle. — Cy _ ee ea a 7 / ian Wi nv HT : yy yO ay o
Slide 25: Port Operations — Existing Facilities
Port Operations — Existing Facilities » Portis located in a calm, well protected area. » The existing Port of Wyndham is under-utilised, seeking development, and additional throughput. » Current Port facilities are restricted in loading and sailing drafts. » The existing shiploader and wharf are uns
Slide 26: Wyndham Port
Wyndham Port y ee ey OE i ae i od — iy innit a a il eros y ey oy 2 ) oo : a Le ye, Ce ie CO? 7 ~ — os es ie ee, : i ay ial i) oe ae eg.
Slide 27: Port - Proposed Facilities
Port - Proposed Facilities » Adjacent to existing wharf and about 50m from shore is an area of water 18m deep. « A simple shiploading structure dedicated to iron ore can be constructed to this deep water in a straight line from stockpile area. » Avery large stockpile area is available. » Area slopes
Slide 28: Typical Fixed Shiploader
pical Fixed Shiploader
Slide 29: Typical Articulated Shiploader
Slide 30: Other Projects - WOWO Gap
Other Projects - WOWO Gap = WOWO Gap — Nickel/Cobalt Project Located 200km East of Port Moresby and 35km from coast of Collingwood Bay. Mineable resource of 48.8Mt @ 1.22%Ni and 0.084%Co. This is estimated as only about one third of the potential resource. Recent drilling during May 2004 in the Limo
Slide 31: WOWO Gap Location
WOWO Gap Location
Slide 32: Diamond Drilling at WOWO Gap
Diamond Drilling at WOWO Gap
Slide 33: Wacker Drilling at WOWO Gap
Wacker Drilling at WOWO Gap
Slide 34: Nickel Projects - Comparison
Nickel Projects - Comparison 307[ Gg nigh Voiseys High Grade/ rade/ Bay Large Resource Smail Resource |, Kabanga = Koniambo ™ Laterite 2.04 Barro Alto @ Sulphide a 3 2 Weda Bay . Goro e Loma de Niquel 7 Nakely Musongati eS Nonoe Gag Island # mg Sipilou a Coral Bat Ambatovy 10 3 r y Ramum m Marlborou
Slide 35: Other Projects — Musgrave Projects
Other Projects — Musgrave Projects » Resource Mining (100%) » Blackstone Project » Near WMC Limited’s Nebo discovery «= Michael Hills Project » Adjacent to Acclaim Exploration NL’s Wingellina project » Exciting exploration targets for nickel and multi-element mineralisation.
Slide 36: Musgrave Projects Location
Musgrave Projects Location WMC (Mebo, Babel) NI-Cu-PGE Discovery BLACKSTONE PROJECT WINGELLINA epost MICHAEL | HILLS PROJECT |
Slide 37: Saturn Magnetic Anomaly
Saturn Magnetic Anomal a civ e Pinesione f Posjeal . y | nN
Slide 38: Argyle Summary
Argyle Summary - Potential for significant tonnage of high grade hematite ore « Very low stripping ratio —- Low mining costs « Low capital cost - no rail line required, road haulage used to existing highly under-utilised port. « Close proximity to markets and shipping » Resource/reserve complete Nov
Slide 39: Registered Office and Contact Details
ABN Registered Office Postal address Telephone Facsimile ASX Code Email 97 008 045 083 702 Murray Street West Perth WA 6005 702 Murray Street West Perth WA 6005 61 8 9213 9400 61 8 9213 9444 RMI rmc@resmin.com.au
Slide 40: The Real McCoy
The Real McCoy