Image Resources Nl · ASX:IMA
Image Resources Nl — Investor Presentation (April 2022)
38 slides from Image Resources Nl's investor presentation, Apr 5, 2022
Slide 1: Established, Profitable Australian Mining Company
For personal use only Established, Profitable Australian Mining Company Focused on Growth and Sustainability Investor Presentation April 2022 Patrick Mutz Managing Director Image Resources NL ASX: IMA 1
Slide 2: Disclaimer and Forward-Looking Statements
For personal use only Disclaimer and Forward-Looking Statements This presentation/document has been prepared by the management of Image Resources NL ("Image”, “IMA“, or “the Company”). The information presented includes an indicative outlook of the business activities of Image for the calendar year
Slide 3: Corporate Snapshot
For personal use only Corporate Snapshot ASX Code IMA Share Price A$0.275 (28 Mar 2022) Shares on Issue 1,040 million Market Cap A$286 million Cash on hand A$79 million (31 Dec 2021) Debt A$0 (since Feb 2021) Enterprise Value A$207 million Top Five Shareholders Board of Directors Murray Zircon PL 14
Slide 4: Share Price Performance
For personal use only Share Price Performance +61% 6-Month +223% 5-Year 4
Slide 5: Credible and Profitable
For personal use only Credible and Profitable Rapid transition to successful mining company • 6-month construction; A$52m on-ground spend (2018) • On-time; on-budget • Ramped to name-plate capacity in 2nd month of operation Profitable from first year of operation Revenue Net Profit After Tax CY2
Slide 6: Keys to success
For personal use only Keys to success Location – Boonanarring project located 1 hour north of capital city of Perth in Western Australia High Grade – One of the highest grade projects of its kind in Australia Zircon Grade TiO2 Minerals Grade 2.4%* >5%* • Typical comparison grades might be 0.3-0.
Slide 7: Keys to success (continued)
For personal use only Keys to success (continued) Simple Business Model • Shallow open cut mining (contracted) • Simple gravity separation • Simple heavy mineral concentrate (HMC) product sold in bulk shipments under letter of credit issued prior to loading 100% of production committed under lif
Slide 8: Project Area Location Map
For personal use only Project Area Location Map 8
Slide 9: Project Location Map
For personal use only Project Location Map Eneabba Tenements Acquisition 232 km2 Initial Portfolio of Tenements 1,232 km2 McCalls Project Acquisition 224 km2 9
Slide 10: Strong Initial Project Portfolio
For personal use only Strong Initial Project Portfolio Transition to production with 12 zircon/titanium projects in its 100%-owed portfolio • All in Western Australia; 1,232 km2 of tenements • All with Mineral Resources; 2 with Ore Reserves (JORC Code) o 29Mt at 7.5% HM in Ore Reserves1 in strand
Slide 11: Focus on Growth and Sustainability
For personal use only Focus on Growth and Sustainability Credible, successful development/operations demonstrated; focus now on growth • Only one of the 12 initial projects has been developed; o Boonanarring; mined since December 2018 • Second is currently being developed; o Atlas; per 2017 BFS sc
Slide 12: Growth Strategy
For personal use only Growth Strategy Accelerate existing development plans for projects in initial portfolio targeting multi-project operating status; • Atlas to follow Boonanarring • Bidaminna as standalone dredge mining project to be operated in parallel with dry mining operations (Atlas and ot
Slide 13: Growth Strategy – Strategic Acquisitions (Eneabba)
For personal use only Growth Strategy – Strategic Acquisitions Eneabba Tenements (232 km2) • Major portion of deal for 8 Exploration Licences (ELs) and 1 Retention Licence completed 18 January 2022 for A$23M cash; • 199 Mt at 2.8% THM containing 5.5 Mt total heavy minerals1,2 in total Mineral Reso
Slide 14: Growth Strategy – Strategic Acquisitions (McCalls)
For personal use only Growth Strategy – Strategic Acquisitions McCalls Project (224 km2) • Acquisition completed 14 March 2022 for A$12M cash; • Mineralisation at McCalls covers four exploration tenements across an area of 224 square kilometres with the potential to host several massive, lower gra
Slide 15: Image Resources – Gold Farmin
For personal use only Image Resources – Gold Farmin King Gold Prospect Farmin King prospect hosts historic gold mineralisation and is surrounded by one of Image’s two 100%-owned gold-focused contiguous tenements located southeast of Kalgoorlie Farmin agreement commenced Q1 2021 with low-cost, lo
Slide 16: Growth Strategy – Mineral Separation Plant
For personal use only Growth Strategy – Mineral Separation Plant Mineral Separation Plant Feasibility Study Transition to mining using simple business model selling concentrate was appropriate and effective Growing to multiple operations provides incentive to evaluate benefits of value-adding wi
Slide 17: Growth Strategy – Macro Preliminary Development Gantt Chart
For personal use only Growth Strategy – Macro Preliminary Development Gantt Chart 17
Slide 18: Beyond Operations: Social Licence, Sustainability and ESG
For personal use only Image Resources – Beyond Operations Social Licence, Sustainability and ESG Image is targeting growth into a sustainable, mid-tier mining company Areas of specific focus beyond day-to-day mining and processing operations include: • Health, safety and well being of employees,
Slide 19: Community Engagement Program
For personal use only Community Engagement Program Image is proud of its active and varied community support and engagement program including significant local employment. At 31 Dec 2021 45% of the site workforce lives locally to the operation or within regional shires. Active cultural engagem
Slide 20: Solar Farm at Boonanarring
For personal use only Solar Farm at Boonanarring 2.3 MWAC solar farm Construction and operation by Sunrise Energy Group Pty Ltd Located on Image owned land Commissioned Sep 2020 and providing ~25% of electricity requirements for Boonanarring Solar farm highlights Image Resources’ proactive a
Slide 21: Solar Farm at Boonanarring
For personal use only Solar Farm at Boonanarring Boonanarring WCP Brand Highway 21
Slide 22: Rehabilitation Snapshot: Before Mining – April 2018
For personal use only Rehabilitation Snapshot: Before Mining – April 2018 22
Slide 23: Rehabilitation Snapshot: During Mining – June 2019
For personal use only Rehabilitation Snapshot: During Mining – June 2019 23
Slide 24: Rehabilitation Snapshot: hectares re-vegetated – August 2020
For personal use only Rehabilitation Snapshot: 13 hectares re-vegetated – August 2020 24
Slide 25: Carbon Sequestration Research
For personal use only Carbon Sequestration Research Australian Carbon Farming Initiative As part of its focus to reduce its carbon footprint, Image is investigating cooperative work with local landowners near its mining operation under the Australian Carbon Farming Initiative The goal is to supp
Slide 26: Green Hydrogen Production
For personal use only Green Hydrogen Production Green Hydrogen Initiative The Western Australian Government is incentivising the demonstration of green hydrogen production in the State Image is actively working with the Sunrise Energy Consortium to secure funding and approvals to install a demon
Slide 27: Summary
For personal use only Summary Established profitable Australian mining company; 3 years consistent profits; Inaugural 2-cent dividend paid in 2021; 2nd annual 2-cent fully franked dividend scheduled April 2022; debt free; Multiple 100%-owned projects in portfolio for future production includin
Slide 28: For further information
For personal use only For further information Image Resources NL info@imageres.com.au Office: +61 8 9485 2410 Level 2, 7 Ventnor Avenue West Perth, WA 6005 PO Box 469, West Perth, WA 6872 www.imageres.com.au 28
Slide 29: Appendix: Mineral Resources & Ore Reserves Statement
For personal use only Appendix Image Resources NL Mineral Resources & Ore Reserves Statement 29
Slide 30: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 30
Slide 31: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 31
Slide 32: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 32
Slide 33: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 33
Slide 34: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 34
Slide 35: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 35
Slide 36: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 36
Slide 37: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 37
Slide 38: Mineral Resources & Ore Reserves Statement
For personal use only Mineral Resources & Ore Reserves Statement 38
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