Conico Ltd · ASX:CNJ
Conico — Shareholder Meeting (November 2013)
20 slides from Conico's shareholder meeting presentation, Nov 29, 2013
Slide 1: 2013 AGM Presentation
For personal use only 2013 AGM Presentation Greg Solomon Chairman
Slide 2: Corporate Overview
Corporate Overview For personal use only Mt Thirsty Project, Norseman (Conico 50%) • Co-Ni Oxide Resource • Ni Sulphide Exploration Conico Capital Structure • Issued Shares (CNJ) - 132.4m • Options (3c ex. 31/12/14) - 1m (8c ex. 31/12/16) - 5.5m • Market Capitalisation - $1.3m (27 November 2013) • C
Slide 3: Mt Thirsty Co-Ni Project
Mt Thirsty Co-Ni Project Conico - 50% JV interest with Barra Resources For personal use only E63/1267 New EM Anomaly
Slide 4: Nickel Sulphide Discovery
Nickel Sulphide Discovery For personal use only Mt Thirsty Ni Sulphide Prospect • Thick favourable sequence of ultramafic rocks • Well endowed nickel province • Kambalda style basal embayment type? • Initial Discovery May 2010: 6 m @ 3.4% Ni in hole MTRC15 • Adjacent to footwall basalt-ultramafic co
Slide 5: Nickel Sulphide Discovery: Longitudinal Section
Nickel Sulphide Discovery For personal use only Longitudinal Section Showing nickel sulphide intersections and interpreted pegmatite intrusion (red) cutting off Ni mineralisation below 250m depth Hole MTDD028 drilled 2011 intersected thick pegmatite intrusion in interpreted Ni sulphide position
Slide 6: Mt Thirsty Nickel Sulphide Potential
Mt Thirsty Nickel Sulphide Potential For personal use only Location of Mt Thirsty JV tenements and nickel sulphide prospect on TMI airborne magnetic image Interpreted continuation of nickel prospective footwall contact (4km strike) shown in yellow - tested by EM Survey September 2013 Footwall contac
Slide 7: Recently Completed EM Surveys
Recently Completed EM Surveys For personal use only • 23.6 line km - moving loop EM - ELs 63/373 and 63/1267. • Targeted conductors due to nickel sulphides associated with interpreted mafic- ultramafic contacts. • Seven EM conductors identified and modelled by consultant : three rated Category-1, th
Slide 8: EM Survey Results
EM Survey Results For personal use only E63/1267 Stacked in-loop MLEM profiles and conductor locations over TMI-1VD aeromagnetic image. • 3 conductors rated Category-1*: MT002, MT004 & MT009 • 3 rated Category-2: MT005, MT007 & MT008 • 1 rated Category-4: MT010 E63/373 * Conductors rated Category 1
Slide 9: Mt Thirsty Co-Ni Oxide Project JORC Ore Resource
Mt Thirsty Co-Ni Oxide Project For personal use only JORC (2004) Ore Resource Category Tonnes Co% Ni% Mn% Indicated 16,600,000 0.14 0.60 0.98 Inferred 15,340,000 0.11 0.51 0.73 Total 31,940,000 0.13 0.55 0.86 *Joint Ore Reserves Committee - Resource compiled in accordance with the guidelines defined
Slide 10: Mt Thirsty Co-Ni Oxide Resource
Mt Thirsty Co-Ni Oxide Resource For personal use only Inferred Resource Indicated E63/373 Resource
Slide 11: Geology
Oxide Project - Geology For personal use only
Slide 12: Advantages
Oxide Project - Advantages For personal use only Located in a developed country with low sovereign risk Located in a mining friendly state, skilled local labour force Large proportion of revenue from cobalt Good infrastructure – close to Norseman townsite, highway, railway, gas, Esperance Port Suita
Slide 13: Summary of Recent Developments
Oxide Project Summary of Recent Developments For personal use only • Major breakthrough for Mt Thirsty Oxide project. • Two new conceptual flowsheets developed • They are each different, low cost methods for processing cobalt-nickel oxide ores compared to previous capital intensive flowsheets that a
Slide 14: Recent Test Work Results
Oxide Project - Recent Test Work Results For personal use only • Agitated leach tests proved the ability of SO2 alone to extract ~80% Co and >20% Ni from Mt Thirsty ore in 4 to 5 hours with low Fe extraction and low acid consumption (25-50kg/t). • Revised Capex estimate of $66.7 - $68.5m for two 300
Slide 15: New Conceptual Flow Sheet: Paste Thickener Option
Oxide Project - New Conceptual Flow Sheet Paste Thickener Option For personal use only
Slide 16: Paste Thickener Option
Oxide Project - Paste Thickener Option For personal use only • Flowsheet designed for 900,000 tpa. • Agitated leaching with SO2 in closed tanks. • Leach pulp and solution transferred to either a single large or several smaller INNOVAT Paste Thickeners, mixed with flocculent and a paste formed. • Ove
Slide 17: New Conceptual Flow Sheet: Resin in Pulp Option
Oxide Project - New Conceptual Flow Sheet Resin in Pulp Option For personal use only
Slide 18: Resin in Pulp Option
Oxide Project - Resin in Pulp Option For personal use only • Leached slurry is contacted with a broad spectrum Ion Exchange resin (large beads). • Beads recovered by screening and handled the same as carbon in a CIP gold plant. • Initial resins studied appear able to recover + 99% of the combined Co
Slide 19: Competent Person's Statement
Competent Person’s Statement For personal use only The information in this presentation that relates to Exploration Results and Activities is based on information compiled by Michael Glasson, Robert Smith, and Guy Le Page who are Members of the Australian Institute of Geoscientists. Michael Glasson
Slide 20: Disclaimer
Disclaimer For personal use only The interpretations and conclusions reached in this presentation are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of pro