Cullen Resources Limited · ASX:CUL
Cullen Resources — Investor Presentation (November 2009)
23 slides from Cullen Resources's investor presentation, Nov 16, 2009
Slide 1: Investor Update – November 2009
For personal use only INVESTOR UPDATE – NOVEMBER 2009 Managing Director: Chris Ringrose + OTHER OPPORTUNITIES FOR DISCOVERY in COPPER | NICKEL | GOLD | TUNGSTEN | URANIUM
Slide 2: Disclaimer
Disclaimer For personal use only IMPORTANT NOTICE This presentation has been prepared by Cullen Resources Limited ACN 006 045 790 (Cullen) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities
Slide 3: Outline of Presentation
Outline of Presentation For personal use only 1. CORPORATE 2. IRON 3. COAL 4. OTHER COMMODITIES 5. CONCLUSIONS
Slide 4: Cullen Fundamentals
Cullen Fundamentals For personal use only • Number of shares : ~555M Dr Denis Clarke ‐ Chairman • Unlisted options : 18M Dr Chris Ringrose ‐ Managing Director Mr Grahame Hamilton‐ Non Exec • Cash ~$3.5M (30/9/09) Top 20 : ~47% Mr John Horsburgh – Non Exec Mr Wayne Kernaghan – Non Exec/Co Sec • Marke
Slide 5: Cullen Projects Location Summary
Cullen Projects Location Summary For personal use only Canning Basin ‐ Coal West Pilbara ‐ Iron Uranium Copper‐Gold Uranium Gold Uranium Nickel Tungsten WELL POSITIONED PORTFOLIO (Note ‐ General area of projects indicated only)
Slide 6: Key Projects
KEY PROJECTS For personal use only Owns IRON Canning Basin Resource ‐24Mt @ COAL 55.34% Fe (JORC) exploration + Exploration Target Frontier exploration, very large Basin, 20‐40Mt (CUL 30%) widespread coal occurrences, corporate action
Slide 7: West Pilbara Iron Ore Project
For personal use only WEST PILBARA IRON ORE PROJECT
Slide 8: West Pilbara Iron Ore Project (WPIOP Stage 1)
West Pilbara Iron Ore Project (WPIOP Stage 1) For personal use only DFS in progress for development of Channel Iron Deposits (CIDs) owned by JV participants AQA/AMCI/RHI/CUL API’s proposed railway and port WPIOP (Stage 1)
Slide 9: West Pilbara Iron Ore Project (WPIOP Stage 1)
West Pilbara Iron Ore Project (WPIOP Stage 1) For personal use only 50% 50% Aquila AMCI CUL ‐ 24Mt API JV ‐ 393Mt RHI ‐ 84Mt 30% 20% Mt Stuart JV Red Hill JV Catho Well Cardo Bore etc (79.5Mt@55.34%Fe) (422Mt@56.63%Fe) + WPIOP – Stage 1 501Mt @ 56.43% Fe Channel Iron Deposits FOR EXPORT TO CHINA
Slide 10: West Pilbara Iron Ore Project (WPIOP Stage 1)
West Pilbara Iron Ore Project (WPIOP Stage 1) For personal use only • Cullen owns 30% of Catho Well CID • Contributing at 30% to DFS • part of WPIOP • $0.7M budget in 09/10 API’s proposed railway and port WPIOP Stage 1 including Catho Well CID
Slide 11: West Pilbara Iron Ore Project (WPIOP Stage 1)
West Pilbara Iron Ore Project (WPIOP Stage 1) For personal use only Total CID Resources API-RHI-CUL 501Mt @ 56.43%Fe Catho Well 79.5Mt @ 55.34%Fe
Slide 12: West Pilbara Iron Ore Project (WPIOP Stage 1)
West Pilbara Iron Ore Project (WPIOP Stage 1) For personal use only Mt Stuart JV (Cullen 30% and contributing ‐ API 70%) Catho Well Channel Iron Deposit 16.8% 79Mt @ 55.34% Fe WPIOP – Stage 1 Total Channel Iron Deposits 501Mt @ 56.43% Fe Catho Well: Fe ‐ 55.34%; Al2O3 ‐ 3.06%; P ‐ 0.037% Lower alumi
Slide 13: Canning Basin Coal Project
For personal use only CANNING BASIN COAL PROJECT
Slide 14: Canning Basin Coal
For personal use only Canning Basin Coal
Slide 15: Canning Basin Coal (Tenements in Red)
Canning Basin Coal ( Tenements in Red) For personal use only
Slide 16: Canning Basin Coal Exploration – Plan of Attack
Canning Basin Coal Exploration ‐ Plan of Attack For personal use only • TRIAL SOIL GAS GEOCHEM COMPLETED, ASSAYS AWAITED • INTERPRETATION OF NEW AEROMAGNETICS DATA • INTERPRETATION OF LANDSAT TM DATA • MARKETING RESEARCH • APPLICATION FOR DRILL SUPPORT FROM GSWA (FEB 2010) • PROGRESSIVE TENEMENT APP
Slide 17: Cullen's Other Projects
Cullen’s Other Projects • AGNEW – GOLD – YILGARN – 100% For personal use only • KILLALOE – GOLD/NICKEL – YILGARN – 100% • GUNBARREL – GOLD – YILGARN – 100% • COOLGARDIE – GOLD – YILGARN – 100% • WOODCUTTERS – GOLD – YILGARN – 100% • LAVERTON – GOLD – YILGARN – 100% • DUCHESS – COPPER/GOLD – MT ISA –
Slide 18: Active JV's (Cullen Carried)
Active JV’s (Cullen Carried) For personal use only Nickel Helicopter‐borne, VTEM completed at Gunbarrel (October 09) Uranium Radiometric and TEM anomalies to be tested Gold Follow‐up of soil anomalies, near Paulsens Mine Iron Two JV’s in Pilbara, RC drilling planned Nickel VTEM surveying at Forresta
Slide 19: Extensive Pipeline of Projects & Active JV's
Extensive Pipeline of Projects & Active JV’s For personal use only 1EXPLORATION TARGET at Catho Well The Exploration Target is conceptual in nature and there has been insufficient exploration to define a Mineral Resource, and it is uncertain if further exploration will result in the determination of
Slide 20: Agenda Going Forward (Estimates)
Agenda Going Forward (Estimates) For personal use only 2009 2010 2011 2012 2013 IRON (WPIOP ‐ Stage 1) Exploration Drilling ‐ Catho Well South ?? DFS completed ~mid‐2010 Approvals then construction begins Production start‐up expected mid‐2013 COAL (Canning Basin) Data compilation/targeting Marketing
Slide 21: Summary
SUMMARY • CONTRIBUTE IN PARTNERSHIP For personal use only TO POTENTIAL PILBARA IRON ORE DEVELOPMENT PROJECT – DEFINITIVE FEASIBILITY STUDY IN PROGRESS • FOCUS ON CANNING BASIN COAL PROJECT DEVELOPMENT PROGRESS MARKETING, TARGETING AND PLANNING FOR EXPLORATION DRILLING • PRIORITIZE TARGETS AND MANAGE
Slide 22: Competent Person Statement
Competent Person Statement For personal use only The information in this report that relates to Exploration Results is based on information compiled by Dr Chris Ringrose, Managing Director, Cullen Resources Ltd who is a Member of the Australian Institute of Mining and Metallurgy. Dr. Ringrose is a f
Slide 23: Thank you
For personal use only Thank you
Cullen Resources — Investor Presentation (November 2009) on 6ix