Slide 1: Advancing the Cleveland Tin-Copper and Tungsten Projects towards Development
elementos.com.au For personal use only NOVEMBER 2013 ASX Code: ELT Advancing the Cleveland Tin-Copper and Tungsten Projects towards Development
Slide 2: Corporate Summary
Corporate Summary elementos.com.au For personal use only Diversified metals company, including Cleveland, advanced stage tin-copper and tungsten projects, together with a number of prospective gold and copper assets in South America and Australia Share price1 2.2 cents Cash2 $1.66 million Ordinary s
Slide 3: People
People elementos.com.au For personal use only Calvin Treacy Corey Nolan Richard Seville Managing Director Executive Director Director Senior Executives ► Linda Scott (Chief Financial Officer and Company Secretary) ► Gustavo Delendatti (Geologist and South America Country Manager) Technical Consultan
Slide 4: Reasons to Invest
Reasons to Invest elementos.com.au Share price appreciation potential – developing an advanced tin project, in For personal use only a commodity with excellent supply/demand fundamentals and price outlook, underpinned by the following strengths: Advanced tin development project ► JORC Resources –
Slide 5: Undervalued Compared to Peers
Undervalued Compared to Peers elementos.com.au Australian Tin Peer Valuation For personal use only Enterprise Value per tonne of JORC contained tin Kasbah Resources Venture Minerals Consolidated Tin Elementos Stellar Resources 50 100 150 200 250 300 350 400 450 Average $311/tonne NO VALUE ATTRIBUTED
Slide 6: North-West Tasmania Tin Province
North-West Tasmania Tin Province elementos.com.au Cleveland is located in north-west For personal use only Tasmania, Australia, approximately 80 kilometres south of Burnie Established mining province since early 1900s District has a number of high-grade, long life, iron ore, base and precious
Slide 7: World Class Minerals Field
World Class Minerals Field elementos.com.au The Cleveland project area covers the For personal use only northern margins and metamorphic aureole of the Meredith Granite The Meredith Granite is part of a suite of Devonian granites which are associated with numerous world class tin deposits in the
Slide 8: Large Tenement Holding
Large Tenement Holding elementos.com.au 96 square kilometres of prospective exploration ground held in three exploration permits: For personal use only ► EL7/2005 – covers historic Cleveland project site ► EL9/2006 and EL15/2011 – areas adjoining EL7/2005 8
Slide 9: Excellent Support Infrastructure
Excellent Support Infrastructure elementos.com.au Port – Container, cargo and bulk handling port at Burnie, an export port 80 For personal use only kilometres by road to the northeast, providing access to Asian smelters Roads - Adjacent to an all weather sealed road with access to Burnie Labou
Slide 10: Previously Operated Tin Mine
Previously Operated Tin Mine elementos.com.au Historic underground mine operated by For personal use only Aberfoyle Ltd from 1969 to 1986 5.6Mt of ore processed at 0.68% tin and 0.29% copper to produce in concentrate: ► 23,519 tonnes of tin ► 9,691 tonnes of copper Cleveland was among the firs
Slide 11: Geological Snapshot
Geological Snapshot elementos.com.au At Cleveland, tin and copper mineralisation For personal use only occurs in a series of sedimentary rocks belonging to Hall’s formation, underlain by sandstones and overlain by volcanics Mineralisation in the sedimentary rocks originated from the Meredith gra
Slide 12: Cleveland Tin-Copper JORC Resources
Cleveland Tin-Copper JORC Resources elementos.com.au Cleveland Tin and Copper Mineral Resource 31 March 2013 For personal use only (0.35% Sn cut-off grade) Tin Metal Cu metal % Sn Tin Eq Metal Category Tonnage % Sn % Cu (tonnes) (tonnes) Eq (tonnes) Indicated 4,239,000 0.70 30,000 0.28 12,000 0.80 3
Slide 13: Cleveland Tin Mine Resource Model
Cleveland Tin Mine Resource Model elementos.com.au Resource model For personal use only ► Mineral Resources have been estimated for the tin and copper in the individual lenses ► The tin and copper lenses occur in three main structural domains, separated by two flatly dipping faults - Ratchet and Nad
Slide 14: JORC Resources Database
JORC Resources Database elementos.com.au Aberfoyle’s mining database includes: For personal use only ► 2,040 drill holes totalling 134,000 metres ► 75,000 assay points for tin, copper, tungsten, lead and zinc ► Core from 87 diamond drill holes stored in the Mineral Resources Tasmania core facility;
Slide 15: Precedent for Deposit to Extend to Depth
Precedent for Deposit to Extend to Depth elementos.com.au The granite contact is estimated For personal use only to be ~4km below Cleveland Current mine development extends down to approximately 500 metres below the surface There are precedents for the possibility that mineralisation will exte
Slide 16: Mining
Mining elementos.com.au Mine historically a low-cost, open stoping For personal use only operation Significant underground mine development in place: ► 4 km decline development down to 500m via a 5.0m X 5.0m drive expanded to 5.5m² on curves ► More than 11km of underground development in place (
Slide 17: Simple Metallurgy and Processing
Simple Metallurgy and Processing elementos.com.au Tin and copper For personal use only Known process route to produce tin and copper concentrates: ► Tin primarily occurs principally as cassiterite (tin oxide) ► Copper occurs as chalcopyrite ► Previous commercial tin and copper recoveries averaged 60
Slide 18: Tungsten Deposit
Tungsten Deposit elementos.com.au Top of deposit located approximately 350 metres below the portal For personal use only Existing underground decline development reaches upper portions of the deposit Tungsten mineralisation occurs as wolframite ([Fe,Mn]WO3) Mineralisation hosted in both the
Slide 19: Tungsten Potential
Tungsten Potential elementos.com.au Inferred Mineral Resource 31 March 2013 For personal use only ABOVE 850m RL (0.2% WO3 cut-off grade) Contained WO3 Tonnage % WO3 (tonnes) 3,980,000 0.30 12,000 Tungsten Conceptual Exploration Target# BELOW 850m RL Cut-off grade % WO3 0.2% % WO3 0 % WO3 Tonnes (Mt)
Slide 20: Tin Prices – Current Prices Sustainable
Tin Prices – Current Prices Sustainable elementos.com.au Supply constrained and global mine production declining: For personal use only ► Chinese and Indonesian production in long-term structural decline ► San Rafael mine closure in 2018 to reduce global production by ~10% ► Few new, sustainable p
Slide 21: Tin Uses – Lead Free Solder Key Driver
Tin Uses – Lead Free Solder Key Driver elementos.com.au 2012 Tin Consumption by Usage^ For personal use only Float Glass 2% Brass & Bronze Other 5% 9% Chemicals 14% Solder 53% Tinplate 17% Lead free solder has transformed the tin market Non toxic – replaces lead and other toxic metals Excellent
Slide 22: Tin Supply – Structural Changes Underway
Tin Supply – Structural Changes Underway elementos.com.au Indonesian Supply Declining1 Issues affecting global tin supply: For personal use only Tin grades are declining and mines are getting deeper Costs of production are rising Capital costs are too high - current prices do not justify inves
Slide 23: Tin Demand - Steady Growth
Tin Demand - Steady Growth elementos.com.au Sustainable growth New markets For personal use only ► China accounts for nearly half of ► New product development in the global demand modern consumer electronics ► Lead free solder demand growing market key driver – the electronics age plus ► Lithium ion
Slide 24: An External Perspective
An External Perspective…. elementos.com.au Share Valuation For personal use only “Our valuation of ELT is 12.2 cents share” Cleveland Valuation “We estimate an after-tax NPV of A$95 million for 100% of the project, for a capital investment of $80 million; an IRR of 46%” Cleveland Operations “Proven
Slide 25: Development Plans
Development Plans elementos.com.au For personal use only 2013 2014 2015 • Environmental • Pre-feasibility study • Mining lease permitting completed (mid- application • Resource upgrade 2014) • Project finance • Reserve statement • Millenium JV drilling • Feasibility study to • Mineralogical commence
Slide 26: Disclaimer
Disclaimer elementos.com.au COMPETENT PERSON STATEMENT - The information in this report that relates to Mineral Resources or Ore Reserves at the Cleveland tin- For personal use only copper and tungsten project, Tasmania, is based on information previously issued in the 18 April 2013 ASX Announcement
Slide 27: Contacts
Contacts elementos.com.au Elementos Limited For personal use only ACN 138 468 756 Level 8, 26 Wharf Street tel: +617 3221 7770 Brisbane, Queensland, Australia fax: +617 3221 7773 www.elementos.com.au For enquiries regarding this presentation please contact: Calvin Treacy – Managing Director email: a