Slide 1: Dart Mining targets low cost mining operations; scoping study on track
DART MINING TARGETS LOW COST MINING ASX ANNOUNCEMENT OPERATIONS. SCOPING STUDY ON TRACK 10 September 2012 FOR OCTOBER RELEASE For personal use only ASX Code: DTM September Investor presentation attached Target cash cost per Ib1 Mo after credits within lowest cost quartile Investment Data Targe
Slide 2: Competent Person's Statement
Dart Mining also has extensive tenement holdings in north east Victoria that are largely underexplored with very strong potential for identifying additional mineralised porphyries. Specific exploration targets known to be mineralised include For personal use only Morgan (Mo/Ag /Cu/Au), Mammoth (Cu/A
Slide 3: Potential for a world class Mo + Cu + Ag mine in a new Australian mineral province
For personal use only Potential for a world class Mo + Cu + Ag mine in a new Australian mineral province Lindsay Ward ASX : DTM Managing Director Sept 2012 1
Slide 4: Disclaimer
DISCLAIMER For personal use only The information contained in this document is disclosed to you by Dart Mining NL (ACN 119 904 880) (the "Company"). Nothing in this document shall form the basis of any contract or commitment, or constitutes investment, financial product, legal, tax or other advice.
Slide 5: DTM Investment Highlights
DTM INVESTMENT HIGHLIGHTS For personal use only • Unicorn deposit – potentially a world class Mo + Cu + Ag porphyry mine • Similarities to Climax / Henderson – multiple high grade stacked horizons • Positive outlook for Molybdenum (Mo) – price is predicted to recover • 102Mt Measured / 203Mt total R
Slide 6: DTM Corporate Structure
DTM CORPORATE STRUCTURE For personal use only ASX Code: DTM Options: Shares on issue: ~182.94m • 8.35m unlisted 15 cent options Market cap: ~$18.m (expiry 31 Dec 2013) • 100,000 unlisted 18 cent Directors: 12m shares (~7%) options (expiry 20 March 2017) Top 20: 35% • 100,000 unlisted 22 cent Cash: ~
Slide 7: Hands on and cohesive board
HANDS ON AND COHESIVE BOARD For personal use only Lindsay Ward – Managing Director Experienced senior executive having worked at CEO & GM level across the mining, power generation, mineral processing, ports, rail and logistic industries Chris Bain – Chairman Well regarded corporate advisor, who has
Slide 8: Project location advantage
PROJECT LOCATION ADVANTAGE For personal use only ALBURY N.S.W VICTORIA CORRYONG 6
Slide 9: Unicorn resource summary
UNICORN RESOURCE SUMMARY For personal use only INSITU METAL MoEq1 JORC TONNAGE Mo Eq1 Mo Cu Ag Mo Cu Ag Cutoff CLASSIFICATION (Mt) (%) (%) (%) (%) (g/t) (t) (t) (Moz) MEASURED 102 0.04 0.07 0.04 0.06 3.58 37,561 61,305 11.8 INDICATED 35 0.04 0.06 0.04 0.04 2.75 12,792 14,629 3.1 INFERRED 66 0.04 0.0
Slide 10: High grade from surface
HIGH GRADE FROM SURFACE For personal use only • High grade from surface 54Mt Measured Resource at 0.08% MoEq1 contained within 102Mt Measured Resource at 0.07% MoEq1 • 203Mt JORC Measured + Indicated + Inferred Resource at 0.06% MoEq1 • Could support long mine life in excess of 20 years • Indicate
Slide 11: Significant insitu metal content
SIGNIFICANT INSITU METAL CONTENT For personal use only Contained Insitu Metal • Measured Mo – 37.6 Kt Cu – 61.3 Kt Ag – 11.8 Moz • Measured and Indicated Mo – 50.4 Kt Cu – 75.9 Kt Ag – 14.9 Moz • Total Resource Mo – 72.2 Kt Cu – 97.8 Kt Ag – 19.4 Moz 9
Slide 12: Case study – Endako mine
CASE STUDY – ENDAKO MINE For personal use only Unicorn Project Endako Mine BC • Multi metal – Mo + Cu + Ag • Single metal only – Mo • High recoveries • Low recovery Mo 92% + Cu 96% + Ag 83% Mo 74% • Two saleable concentrates • Single concentrate 51% Mo plus a 23% Cu/Ag 51% Mo • Strip Ratio l
Slide 13: Target onsite mine + mill cost / ore tonne
TARGET ONSITE MINE + MILL COST / ORE TONNE For personal use only 25 US$/t ore El Teniente Henderson Los Bronces Chuquicamata Dart Mining Target Los Pelambres Andina 20 Collahuasi Cash Cost US$ Thompson Creek Bingham Canyon per Tonne Mined (~A$/US 1.05) Antamina Toquepala Bagdad 15 Continental Highla
Slide 14: Target cash cost after credits
TARGET CASH COST AFTER CREDITS For personal use only 12 Dart Mining Target Endako Thompson Creek Questa 10 Cash Cost US$ / lb1 Bagdad (~A$/US 1.05) Henderson Chuquicamata Highland Valley Costs US$/lbMo Los Bronces 8 Los Pelambres Continental Collahuasi Cerro Verde Sierrita El Teniente Bingham Canyon
Slide 15: About molybdenum
ABOUT MOLYBDENUM For personal use only Source: 2012 CRU report and Thomson Creek 2012 AGM presentation Source: 2012 CRU report and Thomson Creek 2012 AGM presentation 1600 260 Comparison of Global Crude Steel 1500 Production and World Mine Production Of Mo (kt) 240 Crude Steel Production (Mt) 1400 G
Slide 16: Molybdenum market forecasts
MOLYBDENUM MARKET FORECASTS For personal use only 14
Slide 17: New Australian mineral province
NEW AUSTRALIAN MINERAL PROVINCE For personal use only • Gilmore splays are known host of major ore bodies Cadia / Ridgeway / Nth Parkes in NSW Benambra in Victoria • Gilmore suture flexes across into Victoria with a series of splay faults • DTM has 2,000km2 of tenements across this strategic str
Slide 18: Unicorn and Henderson are similar
UNICORN and HENDERSON ARE SIMILAR For personal use only DRILL RIG Unicorn Mineral Resource (Left) showing the 5,978,100mN cross section showing Measured, Indicated and Inferred Mineral Resource and the M3 Grade Zone to 400 RL 16 (450m below surface). The conceptual Henderson style Target associated
Slide 19: Community alignment advantage
COMMUNITY ALIGNMENT ADVANTAGE For personal use only Victorian Government supports Unicorn via three drilling grants totalling $240,000 17
Slide 20: Strip ratio advantage
STRIP RATIO ADVANTAGE For personal use only DRILL RIG 18
Slide 21: Infrastructure advantage
INFRASTRUCTURE ADVANTAGE For personal use only What Project Value Should Investors in Dart Mining Place on Existing Infrastructure? 19
Slide 22: Conceptual mining method advantage
CONCEPTUAL MINING METHOD ADVANTAGE For personal use only * The section is conceptual only. There has been insufficient exploration drilling, financial modelling & mine planning to accurately define the pit shape and it is uncertain if further drilling will enable this to occur.
Slide 23: News flow and key events
NEWS FLOW and KEY EVENTS For personal use only 21
Slide 24: DTM – Key takeaways
DTM – KEY TAKEAWAYS For personal use only • Unicorn lowest quartile cost target – cash cost per lb & ore mined • Scoping study October – 100Mt Measured JORC Resource • 20+ year mine life could be supported – high grade from surface • Very low strip ratio – potential to have a nil waste initial pit •
Slide 25: Thank you and questions
THANK YOU AND QUESTIONS For personal use only MOLYBDENUM A SOFT, GREY NON TOXIC MINERAL WITH PROPERTIES UNLIKE ANY DRILL RIG OTHER ELEMENT 23
Slide 26: Competent Person Statement
For personal use only Competent Person Statement Information in this report that relates to a statement of Exploration Results and Mineral Resources of the Company is based on information compiled by Dean Turnbull B.App.Sc.(Geol) Hons. M. AIG. Mr Turnbull is a Director and full time employee of Dart