Mindax Limited · ASX:MDX
Mindax — Shareholder Meeting (November 2012)
41 slides from Mindax's shareholder meeting presentation, Nov 30, 2012
Slide 1: Annual General Meeting - Presentations
ASX ANNOUNCEMENT ANNUAL GENERAL MEETING - 30 November 2012 PRESENTATIONS Pursuant to ASX Listing Rule 3.13.3, Mindax Limited advises ASX Code: MDX that the attached presentations will be delivered by the ABN: 28 106 866 442 Company’s Chairman and Managing Director at today’s Corporate Description An
Slide 2: Chairman's Address: Overview
ANNUAL GENERAL MEETING 30 NOVEMBER 2012 ADDRESS TO THE AGM BY MR GILBERT GEORGE, CHAIRMAN OF MINDAX LIMITED Overview The 2012 Financial Year has been one of change for Mindax on a number of fronts. On the exploration front efforts were directed at consolidation of the exploration success of the prev
Slide 3: Mindax, the Market and the Future
Mindax Limited Mindax, the Market and the Future Mindax has a portfolio of projects over a number of commodities, and those projects are at varying stages of development. Iron ore, copper, gold and uranium are all commodities that will continue to be in demand by the growing economies in Asia, parti
Slide 4: Speech by Dr Steve Ward, Managing Director
ANNUAL GENERAL MEETING 30 NOVEMBER 2012 SPEECH BY DR STEVE WARD MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER (Please refer to separate presentation slides) SLIDE 1 Cover Slide Ladies and Gentlemen, good morning. I would also like to extend a warm welcome to you. It is a pleasure and honour to be here
Slide 5: Corporate Snapshot
Mindax Limited The Company now has a new strategy which aims to build on previous exploration success. We have now begun stepping up activities to deliver this new strategy underpinned by recent successful fund raising. Along the way, there have been changes to Board, Management and Staff. We still
Slide 6: Mindax Financial Position 2011/2012
Mindax Limited On this slide you can see the current status of each of our Projects on the development pathway. Our Flagship Mount Forrest project is the most advanced. Access to funding is critical to our success and we continue to pursue appropriate means to move the projects forward as can be see
Slide 7: Mt Forrest, Yilgarn Western Australia
Mindax Limited SLIDE 10 Mt Forrest Scoping Study – April 2012 The Company issued a very positive scoping study for Mount Forrest in April this year. A summary of this study is shown in the table on the slide. It highlighted two potential production scenarios; a reasonable DSO operation and a large s
Slide 8: Iron Ore Market Dynamics
Mindax Limited SLIDE 14 Uranium Assets I would like to turn now to our Uranium assets. Mindax has discovered a highly prospective new uranium province in the Yilgarn Avon region. The Company has a great land position, there is good infrastructure and supportive local communities. We announced a maid
Slide 9: Mt Forrest Scoping Study - April 2012
Mindax Limited SLIDE 18 Summary of 2011 and 2012 Ladies and gentlemen, I would like to conclude now with a brief summary. The Company has navigated through difficult times successfully and is now moving forward in pursuit of a new strategy to become a successful Mining house which rewards shareholde
Slide 10: Annual General Meeting of Shareholders - An Emerging Mining House for Key Commodities
ABN 28 106 866 442 Mindax Limited Annual General Meeting of Shareholders 30 November 2012 Dr Steve Ward Managing Director & Chief Executive Officer ‘An Emerging Mining House for Key Commodities’ Mindax Limited (ASX: MDX) www.mindax.com.au
Slide 11: Disclaimer and Competent Persons Statement
Disclaimer and Competent Persons Statement This presentation was prepared by Mindax Limited (ABN 28 106 866 442) (“MDX” or “the Company”), a public company listed on the Australian Securities Exchange. The presentation is based on internal company reports, stock exchange announcements and technical
Slide 12: 2011/2012 - A Year of Change, Challenges, with Achievements
2011/2012 - A Year of Change, Challenges, with Achievements Changes in: - Strategy: successful ‘Explorer’ to ‘Emerging mining House’ - Board - Management and Staff. Challenges from: - Funding: constrained financial markets and weaker iron ore sentiment - Falling Share Price. Achievements with:
Slide 13: Corporate Snapshot
Corporate Snapshot Issued Capital MDX - Mindax Ltd XMM - Metals and Mining Index Ordinary shares (ASX:MDX) 196.6m Source: ASX – 29 November 2012 Price (at last trade 29 November 2012) 8.9¢ 30 day VWAP 8.54¢ 12 Month High / Low 20¢ / 6¢ Market Capitalisation $17.5m 12 Month Liquidity 3.19% Cash at ba
Slide 14: Overview of Current Business
Overview of Current Business A portfolio of key commodity opportunities based in Western Australia….. Iron Ore - Mt Forrest, Yilgarn, 100% owned. Significant and world class magnetite JORC resource 1.7Bt DSO opportunity. Positive scoping study issued in April 2012. Scoping study optimization in
Slide 15: Corporate Strategy
Corporate Strategy Creating shareholder value by building a Mining House for key commodities….. Project Targeted Scoping Feasibility Scout Drilling Construction Operation Generation Drilling Study Studies Gold Uranium Iron Ore Meekatharra Yilgarn-Avon Mt Forrest & Copper (+Gold) Mortlock Our goal
Slide 16: Mindax Financial Position 2011/2012
Mindax Financial Position 2011/2012 A challenging period in which to raise funds : ‒ Constrained investment markets which are more cautious ‒ Weakened iron ore market sentiment (we believe short term). The Company has responded to the challenge and accessed funds: ‒ Survived through these diffic
Slide 17: Mt Forrest, Yilgarn Western Australia
Mt Forrest, Yilgarn Western Australia Largest Iron Resource in the Yilgarn Province. The Magnetite Resource1: 1.71 Bt @ 31.8% Fe JORC Indicated (248.2Mt @ 32.6% Fe) and Inferred (1,462.4Mt @ 31.6% Fe). Regolith Resource2: 14.7Mt @45.4%Fe JORC Indicated (12.3Mt @ 45.5% Fe) and Inferred (2.4Mt @
Slide 18: Iron Ore Market Dynamics
Iron Ore Market Dynamics Sentiment weakened after a strong start to 2012. Prices fell as demand for new supplies declined. Significant de-stocking occurred in China. Market and prices are recovering and are now again at levels used in the Mount Forrest Scoping Study. Sentiment has not yet fu
Slide 19: Mt Forrest Scoping Study - April 2012
Mt Forrest Scoping Study - April 2012 Very positive scoping study issued. DSO Magnetite Two production scenarios identified: Production Mt/yr 1.3 10 - DSO based on Regolith 8.8 Mt DSO Fine price 58% Fe $US110/t product over 7 years - Large scale magnetite operation Magnetic Concentrate $US174/t p
Slide 20: Exploration 2012-2013
Exploration 2012-2013 Mt Forrest is still highly prospective….. Potential significant upside for DSO The Detrital & Canga materials are located off the ridges and are large flat bodies. A small drilling program has the potential to grow quick additional iron resources. A larger DSO Iron Resour
Slide 21: Optimised DSO Scoping Study – Proof of Concept Targets
Optimised DSO Scoping Study – Proof of Concept Targets Seek to increase scale (output & mine life). Target simple initial operation: Target Scoping Study - easy to process Detrital material Mine Life 16 7 years - lower initial Capex and Opex. Product 2 1.3 Subsequent Capex phased in from Mt/yr
Slide 22: Project Timeline for DSO Optimised Project Scope
Project Timeline for DSO Optimised Project Scope Q4 2012 Q1 2013 Q3 2013 Q1 2014 Q3 2014 Q1 2013 Q2 2013 Q4 2013 Q2 2014 Q4 2014 • Proof of Concept Work • Environmental • Feasibility Study • Construction and • Pre-mining and • Detrital Drilling and Heritage • Environmental Mobilisation Commissioning
Slide 23: Uranium Assets
Uranium Assets Yilgarn-Avon Joint Venture….. Joint Venture (Mindax 78%) with strategic partner Quasar, operator of Beverley mine in South Australia. New highly prospective Uranium Province discovered. 3 Project Areas. 18 exploration tenements (1,500km2), 2 Advanced Prospects (Yandegin & Jindarra
Slide 24: Proposed U3O8 Production Model
Proposed U3O8 Production Model Sandstone Hosted Uranium Mineralisation. Uranium extraction by simple in-situ recovery using small diameter (<0.5M) bores: Minimal surface disturbance Cheaper production costs Current operation in USA: extraction (above) and yellow cake production below) Rela
Slide 25: Meekatharra North Gold Project
Meekatharra North Gold Project Highly Prospective. 40km from Meekatharra & 25km along strike from Paddy’s Flat (+2.5M oz). Along strike (2km) from a new 300,000 ounce gold discovery (Doray Minerals – Andy Well Project) which is scheduled for first production during 2013. Mineralised structures
Slide 26: Mortlock Copper (Gold)
Mortlock Copper (Gold) Project part of YAJV with Quasar Significant (+0.1%) unexplained copper mineralisation within an extensive anomalous blanket in the regolith. Nearby historic intercepts including 61 m @ 0.83 g/t Au, 37 m @ 0.72 g/t Au and 0.26% Cu, and a diamond core intercept of 25 m @
Slide 27: Summary of 2011 and 2012
Summary of 2011 and 2012 A very challenging and dynamic period – successfully navigated through difficult times and moved forward. New strategy which builds on previous exploration success. Vision is to be a successful Mining House which rewards shareholders well. Establishing clear developmen
Slide 28: Annual General Meeting of Shareholders 30 November 2012
Annual General Meeting of Shareholders 30 November 2012 Mindax Limited - ACN 106 866 442
Slide 29: Summary of the Proxy Votes Received
Annual General Meeting held on 30 November 2012 Summary of the Proxy Votes Received Issued Capital 196,616,911 Total covered by proxies 92,954,604 47.28% Resolution Description 1 Adoption of Remuneration Report 2 Re-election of Mr Gilbert George as Director 3 Re-election of Mr Loh Kgai Mun as Direct
Slide 30: Resolution 1 – Adoption of Remuneration Report
Resolution 1 – Adoption of Remuneration Report “That, for the purpose of Section 250R(2) of the Corporations Act and for all other purposes, approval is given for the adoption of the Remuneration Report as contained in the Company’s Annual Financial Report for the financial year ended 30 June 2012.”
Slide 31: Resolution 2 – Re-election of Mr Gilbert George as Director
Resolution 2 – Re-election of Mr Gilbert George as Director “That, for the purpose of clause 13.2 of the Constitution and for all other purposes, Mr Gilbert George, a Director, retires by rotation, and being eligible, is re-elected as a Director.” Summary of the Proxy Votes Received: For Against Abs
Slide 32: Resolution 3 – Re-election of Mr Loh Kgai Mun as Director
Resolution 3 – Re-election of Mr Loh Kgai Mun (Eric Loh) as Director “That, for the purpose of clause 13.4 of the Constitution and for all other purposes, Mr Loh Kgai Mun, a Director who was appointed on 28 March 2012, retires, and being eligible, is re-elected as a Director.” Summary of the Proxy V
Slide 33: Resolution 4 – Re-election of Dr Stephen Ward as Director
Resolution 4 – Re-election of Dr Stephen Ward as Director “That, for the purpose of clause 13.4 of the Constitution and for all other purposes, Dr Stephen Ward, a Director and the Company’s Managing Director who was appointed on 30 July 2012, retires, and being eligible, is re- elected as a Director
Slide 34: Resolution 5 – Approval of 10% Placement Capacity
Resolution 5 – Approval of 10% Placement Capacity “That, for the purpose of Listing Rule 7.1A and for all other purposes, approval is given for the issue of Equity Securities totalling up to 10% of the Company’s issued capital, calculated in accordance with the formula prescribed in Listing Rule 7.1
Slide 35: Resolution 6 – Issue of Options to Mr Gilbert George
Resolution 6 – Issue of Options to Mr Gilbert George “That, for the purposes of Section 208 of the Corporations Act, ASX Listing Rule 10.11 and for all other purposes, approval is given for the Company to allot and issue 1,000,000 Options to Mr Gilbert George (or his nominee) on the terms and condit
Slide 36: Resolution 7 – Issue of Options to Mr Andrew Tsang
Resolution 7 – Issue of Options to Mr Andrew Tsang “That, for the purposes of Section 208 of the Corporations Act, ASX Listing Rule 10.11 and for all other purposes, approval is given for the Company to allot and issue 500,000 Options to Mr Andrew Tsang (or his nominee) on the terms and conditions s
Slide 37: Resolution 8 – Issue of Options to Mr Benjamin Chow
Resolution 8 – Issue of Options to Mr Benjamin Chow “That, for the purposes of Section 208 of the Corporations Act, ASX Listing Rule 10.11 and for all other purposes, approval is given for the Company to allot and issue 500,000 Options to Mr Benjamin Chow (or his nominee) on the terms and conditions
Slide 38: Resolution 9 – Issue of Options to Mr Loh Kgai Mun
Resolution 9 – Issue of Options to Mr Loh Kgai Mun “That, for the purposes of Section 208 of the Corporations Act, ASX Listing Rule 10.11 and for all other purposes, approval is given for the Company to allot and issue 500,000 Options to Mr Loh Kgai Mun (or his nominee) on the terms and conditions s
Slide 39: Resolution 10 – Share Issue on Conversion of Convertible Note
Resolution 10 – Approval for Share Issue on Conversion of Convertible Note “That, for the purposes of ASX Listing Rule 10.11 and for all other purposes, approval is given for the Company to allot and issue 4,694,118 Shares to Ms Lai You (or her nominee) upon the conversion of the Convertible Note on
Slide 40: Resolution 11 – Ratification of Prior Issue – Shares
Resolution 11 – Ratification of Prior Issue – Shares “That, for the purpose of ASX Listing Rule 7.4 and for all other purposes, Shareholders ratify the allotment and issue of 29,492,537 Shares on the terms and conditions set out in the Explanatory Statement.” Summary of the Proxy Votes Received: For
Slide 41: Resolution 12 – Approval of Share Placement
Resolution 12 – Approval of Share Placement (An alternate resolution to Resolution 11) “That, for the purpose of ASX Listing Rule 7.1 and for all other purposes, approval is given for the Directors to allot and issue up to 29,492,537 Shares on the terms and conditions set out in the Explanatory Stat