Slide 1: Resources Roadshow Presentation
For personal use only Adelaide Resources Limited Resources Roadshow Presentation September 2010 Speaker: Speaker: Chris Chris Drown Drown “Creating “Creating wealth wealth through through discovery” discovery”
Slide 2: Disclaimer and Competent Person's Statement
Disclaimer Disclaimer and and Competent Competent Person’s Person’s Statement Statement For personal use only The The information information inin this this presentation presentation is is published published toto inform inform youyou about about Adelaide Adelaide Resources Resources Limited and its
Slide 3: Corporate: Directors, Structure and Trading
Corporate For personal use only Directors Directors Structure Structure and and Trading Trading •• Andrew Andrew Brown Brown –– Chairman Chairman •• ASX ASX listing listing 1996 1996 (ADN) (ADN) (Fund (Fund Management, Management, Broking) Broking) •• Shares Shares on on issue issue 111.2 111.2 mill
Slide 4: Current position
Current position For personal use only • Gold-copper and uranium focused explorer. • Strategic land positions in SA, NT and QLD. • Cu-Au discoveries at 100% owned Rover Project - NT. • Cu-Au discovery at 100% owned Willamulka prospect - SA • U discovery in Thurlga Palaeochannel (JV) - SA. • Solid ca
Slide 5: Project locations
Project locations For personal use only ROVER Gold/Copper GLENROY Gold Northern Territory Queensland EYRE PENINSULA South ANABAMA Australia Gold/Uranium/Copper Copper/Gold CORROBINNIE Uranium MOONTA Victoria YALANDA Copper/Gold Uranium “Creating “Creating wealth wealth through through discovery” dis
Slide 6: Rover Project – the company's flagship
Rover Project – the company’s flagship For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 6
Slide 7: Why Tennant Creek/Rover?
Why Tennant Creek/Rover? For personal use only Past Tennant Creek mines – often exceptional grades Mine Tonnes Au g/t Au oz Cu % Cu tonnes Warrego 6,750,000 6.6 1,475,000 1.9 178,000 Nobles Nob 1,996,000 17.3 1,110,000 – – Juno 452,000 56.1 815,000 0.3 1,000 White Devil 1,618,000 14.6 761,000 – – Pe
Slide 8: Rover – a camp of deposits
Rover – a camp of deposits For personal use only R12 R4 R1 Tennant Tennant Creek Creek style style ironstone ironstone 2010 2010 drill drill program program targets targets Exploration Exploration target target “Creating “Creating wealth wealth through through discovery” discovery” Slide 8
Slide 9: Rover – months ago
Rover 1 – For personal use only 12 months SEL SEL 27372 27372 ago boundary boundary (100% (100% ADN) ADN) High High grade grade gold gold and and copper copper persists persists to to within within metres metres of of ADN ADN tenement tenement TARGET REGION Source: Source: Westgold Westgold Resource
Slide 10: Rover – Now
Rover 1 – Now For personal use only ~~ 20 20 drillholes drillholes into into ADN’s ADN’s tenement tenement System System of of substantial substantial dimension dimension confirmed confirmed High High grades grades of of gold gold and and copper copper intersected intersected “Creating “Creating wea
Slide 11: Rover Prospect
Rover 1 Prospect For personal use only On On 23/02/2010 23/02/2010 WGR WGR announced announced aa maiden maiden resource resource for for part part of of Rover Rover 11 deposit deposit on on its its tenement tenement of of 5.3Mt 5.3Mt @ @ 2.1g/t 2.1g/t Au, Au, 1.0% 1.0% Cu Cu plus plus significant s
Slide 12: Rover – high grade drill core in assay lab
Rover 1 – high grade drill core in assay lab For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 12
Slide 13: Rover Prospect – exciting recent results
Rover 4 Prospect – exciting recent results For personal use only 46m @ 1.24% Cu 9m @ 1.57% Cu, 1.09g/t Au 4m @ 2.30g/t Au 27m @ 1.2% Cu 21m @ 2.33% Cu, 0.94 g/t Au 8m @ 3.77g/t Au 17m @ 1.81% Cu Drilling at 4m @ 3.55g/t Au Rover 4 is continuing. 25m @ 1.05% Cu 15m @ 2.07% Cu 2m @ 20.0g/t Au “Creatin
Slide 14: Rover – high grade drill core in assay lab
Rover 4 – high grade drill core in assay lab For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 14
Slide 15: Rover magnetic images – Is Rover as large as Rover 1?
Rover 12 and Rover 1 magnetic images – Is Rover 12 as large as Rover 1? For personal use only Rover 12 tmi Rover 1 tmi 22 Peko Peko & & 34 34 Peko Peko holes holes && 55 ADN ADN holes holes 11 KM KM wedges wedges prior prior to to WGR WGR && ADN ADN “Creating “Creating wealth wealth through through
Slide 16: Rover Project – In Summary
Rover Project – In Summary For personal use only • Two drill rigs currently operating at Rover. • Significant volume of prospective host ironstone/stringer zone at Rover 1 confirmed on ADN’s tenement. • Intervals of high grade gold and copper mineralisation at Rover 1 confirmed on ADN’s tenement. •
Slide 17: Moonta Project
Moonta Project For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 17
Slide 18: Willamulka Prospect
Willamulka Prospect For personal use only 1500 metre long gold- copper anomaly. Mineralisation (Cu+Au) intersected on all drill traverses completed. 900 metre unclosed zone confirmed. High Au/Cu ratio apparent – gold-rich! “Creating “Creating wealth wealth through through discovery” discovery” Slide
Slide 19: Willamulka Prospect Section
Willamulka Prospect Section 1 For personal use only “Creating “Creating wealth wealth through through discovery” discovery”
Slide 20: Willamulka Prospect Section
Willamulka Prospect For personal use only Section 2 “Creating “Creating wealth wealth through through discovery” discovery”
Slide 21: Willamulka at same scale as Hillside Prospect
Willamulka at same scale as Hillside Prospect For personal use only Source: Source: Rex Rex Minerals Minerals ASX ASX Release Release 28 28 July July 2010 2010 “Creating “Creating wealth wealth through through discovery” discovery”
Slide 22: Corrobinnie Uranium Joint Venture – recent work
Corrobinnie Uranium Joint Venture – recent work For personal use only Sect ion “Creating “Creating wealth wealth through through discovery” discovery” Slide 22
Slide 23: Corrobinnie Uranium Joint Venture – drill section
Corrobinnie Uranium Joint Venture – drill section For personal use only Uranium Uranium results results are are assayed assayed drill drill samples samples Excellent results from first ever drilling in Thurlga palaeochannel. Rotary Mud drilling underway. “Creating “Creating wealth wealth through thr
Slide 24: The Case for Investment
For personal use only Adelaide Resources Limited The Case for Investment “Creating “Creating wealth wealth through through discovery” discovery” Slide 24
Slide 25: ADN closing share price – month summary
ADN closing share price – 15 month summary For personal use only Share price has fallen in 2010 – what has changed? 40 40 30 (cents) 30 price (cents) Share price 20 20 Share 10 10 11 Jul Jul 09 09 30 30 Sep Sep 09 09 31 31 Dec Dec 09 09 31 31 Mar Mar 10 10 30 30 Jun Jun 10 10 13 13 Sep Sep 10 10 “Cr
Slide 26: Gold/Copper/Uranium value in A$ – month summary
Gold/Copper/Uranium value in A$ – 15 month summary For personal use only Prices of ADN’s two main target commodities are appreciating 12% 12% increase increase 30% 30% increase increase 18% 18% decline decline Data Data source: source: InfoMine.com InfoMine.com “Creating “Creating wealth wealth thro
Slide 27: Aggressive 2010 exploration program underway
Aggressive 2010 exploration program underway For personal use only • ROVER: Drilling underway at Rover 1, Rover 4 and Rover 12. High grades of copper and gold intersected. • MOONTA: Drilling confirms Willamulka to be an exciting new copper-gold prospect demanding further work. • CORROBINNIE URANIUM
Slide 28: 15-month share price and news flow
15-month share price and news flow (cents) use only Share price has de-coupled from continuing good news in 2010 High High grade grade Further Further R4R4 intersections intersections results results confirmed confirmed in in WGR Capital Capital raising raising WGR announce 40 40 R1 announce R1 inte
Slide 29: Value comparison with peer group companies
Value comparison with peer group companies For personal use only Issued Cash, Price Implied shares Market cap liquids and Company (COB Tenement (diluted ITM ($M) investments 24.9.10) Value ($M) options) ($M)* ADN 111.2 $0.17 $14.5 $6.0 $8.5 (Adelaide) ERM 226.1 $0.19 $43.0 $8.8 $34.2 (Emmerson) RXM
Slide 30: Major companies at Tennant Creek: tipping point?
Major companies at Tennant Creek: tipping point? For personal use only • Ivanhoe Australia $18m + $10m farm in deal with ERM in April 2009. • Anglo Gold decision on executing $50 million clawback with Westgold due 20 October 2010. • Anglo area of interest immediately adjacent to ADN tenement. • By v
Slide 31: Adelaide Resources – the investment case
Adelaide Resources – the investment case For personal use only • The prices of copper and gold (ADN’s principal target metals) continue to appreciate post GFC. • Fully funded exploration program underway – the question is not whether ADN will find metal, but rather how much it will find. • ADN share
Slide 32: Providing shareholders with discovery opportunities!
For personal use only Providing Providing shareholders shareholders with with discovery discovery opportunities! opportunities! “Creating “Creating wealth wealth through through discovery” discovery” Slide 32