20 slides from Resource Minerals International's investor presentation, Oct 12, 2007
Slide 1: Renounceable Rights Issue Presentation
For personal use only Renounceable Rights Issue Presentation October 2007
Slide 2: Disclaimer
Disclaimer For personal use only • This presentation has been prepared by Resource Mining Corporation Limited ("Company") in connection with the proposed pro-rata renoucenable rights issue to existing shareholders of 43,289,281 fully paid up ordinary new shares in Resource Mining Corporation Ltd on
Slide 3: Corporate Overview
Corporate Overview For personal use only SHARE CAPITAL DIRECTORS 432,892,812 shares on issue John Leach (BA Eco, MBA) 43,289,281 this rights issue Executive Chairman Warwick Davies (BA Eco, Cert. Chem) Market Capitalisation $32.5m Executive Director (433m shares $0.075) Alan Rule (BCom, BAct, ACA) M
Slide 4: Share Price History
Share Price History For personal use only Vol ('000) Share Price Performance and Volume Price ($) 100,000 0.15 0.14 90,000 0.13 80,000 0.12 0.11 70,000 0.10 60,000 0.09 0.08 50,000 0.07 40,000 Issue Price 5.3 cents 0.06 0.05 30,000 0.04 20,000 0.03 0.02 10,000 0.01 0 0.00 Oct- Nov- Dec- Jan- Feb- Ma
Slide 5: Major Projects
Major Projects For personal use only WOWO GAP (100%) ARGYLE IRON ORE (75%) ► Nickel laterite deposit ► Haematite + Magnetite potential ► Inferred Resource 120mt at 1.2% Ni, 0.1% Co ► Inferred Resource 17mt at 55% Fe ► Potential to significantly ► Seeking small/medium sized expand resource tonnage Ch
Slide 6: Rights Issue
Rights Issue For personal use only • 1 for 10 renounceable rights issue • price of 5.3 cents • to raise $2,294,331 Share Capital Cash (M/shares) ($M) At 30 Sep 432.9 0.4 Rights Issue 43.3 2.3 Total 476.2 2.7 Page 5
Slide 7: Wowo Gap – Nickel/Cobalt Project
Wowo Gap – Nickel/Cobalt Project For personal use only Page 6
Slide 8: Wowo Gap – Nickel/Cobalt Project
Wowo Gap – Nickel/Cobalt Project For personal use only • Inferred Resource of 120mt at 1.20% Ni and 0.1% Co • up to 1.81% Ni in the limonite zone and up to 2.34% Ni in the underlying saprolite material • Higher grade saprolite mineralisation not fully assessed at depth • Potential to increase resour
Slide 9: Wowo Gap – Exploration Update
Wowo Gap – Exploration Update (As at 5 October 07) For personal use only •Tenement renewal completed and authorised by Minister for Mining •23 Diamond Holes completed so far •Laterite profile +20metres thick being encountered on the Eastern side of the deposit •Current diamond drilling confirming gr
Slide 10: Wowo Gap – Exploration Underway
Wowo Gap – Exploration Underway For personal use only 1. Grid Line Clearing 2. Ground Penetrating Radar 3. Diamond Drilling 4. Analysis & Metallurgy 5. Results available in the last quarter of 2007 Page 9
Slide 11: Wowo Gap – Exploration Update
Wowo Gap – Exploration Update For personal use only Laterite Profile Assay Results ► 20m thick laterite profile east ► 23 holes drilled to date ► 6.5m Limonite/13.9m Saprolite ► WGDH 034 - 3.2m @ 1.19% Ni from 2.8m ► Next stage of drilling to the east ► WGDH 035 - 8.7m @ 1.01% Ni from 2.0m ► Souther
Slide 12: Nickel Price Fundamentals
Nickel Price Fundamentals For personal use only • 66% of world’s nickel consumed in stainless steel • Laterite hosted nickel now accounts for over 40% of global production • Rising demand and low inventory levels continue to support higher nickel price • Future nickel supply will become increasingly
Slide 13: Argyle Iron Ore Project
Argyle Iron Ore Project For personal use only Page 12
Slide 14: Argyle Iron Ore Project
Argyle Iron Ore Project For personal use only Operational Philosophy 1-2 Mtpa for Export to Chinese Steel Mills Inferred Resource: 17mt at 55% Fe MINE ► Mineralisation dips 10º to 15º to east ► Low waste stripping ratio <0.5:1 ► Contractor operation, 45/50 tonne trucks, small excavator and FEL PROCE
Slide 15: Argyle Iron Ore – Seeking Equity Partner
Argyle Iron Ore For personal use only Seeking Equity Partner • Small to medium Chinese steel mill being sought to Joint Venture or purchase asset • Privately owned mill with ore supply quality linked to Argyle quality • Steel mill off-take provides guaranteed source of iron ore supply • Interest alr
Slide 16: Other Projects
Other Projects For personal use only BLACKSTONE RANGE – MICHAEL HILLS • Joint Venture with Redstone Resources • Redstone earned 40% interest by spending $1M to June 07 • Redstone earning 75% interest by spending a further $1M by June 08 • Significant geochemical targets: Halleys (Cu-Ni-PGE), Titan (
Slide 17: Use of Funds
Use of Funds For personal use only • 1 for 10 renounceable rights issue • price of 5.3 cents • to raise $2,294,331 Wowo Gap $ 1,590,000 Argyle Iron Ore $ 175,000 Cost of Issue $ 134,716 Working Capital Increase $ 394,615 Total $ 2,294,331 Page 16
Slide 18: Use of Funds
Use of Funds For personal use only WOWO GAP (100%) ARGYLE IRON ORE (75%) • Diamond Drilling • Sale of interest or • Radar (GPR) and • Attract joint venture magnetics geophysical partner survey • Resource upgrade • Feasibility study Page 17
Slide 19: Timetable
Timetable For personal use only Announce details of Rights 12 October 2007 Issue to ASX Ex Date – Rights trading 24 October 2007 commences Record date 30 October 2007 Rights Offer to Shareholders 5 November 2007 Rights trading ends 13 November 2007 Closing date 20 November 2007 Page 18
Slide 20: Summary
Summary For personal use only ► Nickel opportunity at Wowo Gap has the potential to add great value ► The Directors believe that worldwide demand for nickel (and thus prices) should remain high ► The Company intends to continue its focus on Wowo Gap and is part way through a drilling programme that