Slide 1: EMED Mining Investor Presentation June 2015
PRIVATE & CONFIDENTIAL EMED Mining Investor Presentation JUNE 2015
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by EMED Mining Public Limited (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or a
Slide 3: Investment Highlights
Investment Highlights FULLY FUNDED TO 7.5MTPA PRODUCTION AT RIO TINTO COPPER PROJECT1 – WELL IN EXCESS OF ORIGINAL 5MTPA PLANS AT LOWER COST ALL KEY PERMITS NOW RECEIVED TO COMMENCE PRODUCTION IN Q3 2015 MANAGEMENT TEAM WITH PROVEN PROJECT DEVELOPMENT AND OPERATING TRACK RECORD SUPPORTIVE ST
Slide 4: Key Management for Project Delivery
Key Management for Project Delivery ● Over 36 years’ experience operating and developing mining projects ALBERTO ● Graduate of the University of Oviedo, Spain with a degree in Mining Engineering LAVANDEIRA ADÁN ● As a Director of Samref Overseas S.A from 2007-2014, he represented the interests of on
Slide 5: Transaction Overview
Transaction Overview 5
Slide 6: Subscription, Placing and Open Offer
Subscription, Placing and Open Offer ● Investors: Trafigura Pte Ltd ("Trafigura"), Orion Mine Finance (Master) Fund I LP ("Orion") Yanggu Xiangguang Copper Co. Limited ("XGC") and Liberty Metals & Mining Holdings, LLC ("Liberty") (together, with their designated affiliates, the “Investors”) ● Equity
Slide 7: Sources & Uses
Sources & Uses COMMENTARY SOURCES & USES ● Behre Dolbear International completed an NI 43-101 compliant report on the Sources US$m EURm Rio Tinto project in February 2013 (the “Technical Report”) Subscription by Investors 1 80 73 − Estimated planning and construction costs of US$199m to reach 5.0Mpt
Slide 8: Post Transaction Highlights and Shareholdings
EMED Post Transaction HIGHLIGHTS PRE TRANSACTION Trafigura F 19.35% ULLY FUNDED TO 7.5MTPA PRODUCTION1 Other Orion S 51.91% 14.44% IGNIFICANT SUPPORT FROM MAJOR SHAREHOLDERS XGC 14.30% INCREASED BALANCE SHEET FLEXIBILITY WITH NO Shares outstanding: 1,439,865,948 Market cap. at Placing Price: £68
Slide 9: Rio Tinto Copper Project
Rio Tinto Copper Project 9
Slide 10: Introduction to Rio Tinto Copper Project
Introduction to Rio Tinto Copper Project OVERVIEW PROJECT LOCATION ● EMED Mining owns 100% of the Rio Tinto Copper Project through its wholly-owned subsidiary EMED Tartessus ● Past-producing open-pit copper mine in the Iberian Pyrite Belt, 65 km northwest of Seville ● Last operated in 2001, and plac
Slide 11: Infrastructure and Site Layout
Infrastructure and Site Layout ● 77km by truck on paved road to port at Huelva ● Power ― 24MW HV power connected in June 2015 ― Expected to be expanded in September to 31MW ― Company has requested up to 40MW from mid-2016 ● Water ― Approximately 5 million cubic metres of clean water is available ― A
Slide 12: Pit Design
Pit Design Open Pit Outline Cerro Colorado Resources W E W E Cerro Colorado San Antonio & Planes San Dionisio & Alfredo 12
Slide 13: Capital Costs
Capital Costs RECONCILIATION OF CURRENT CAPITAL COST ESTIMATE TO BEHRE DOLBEAR NI 43-101 REPORT 200 (24) Revised estimate from 150 US$50m targeted (62) capital expenditure reductions announced in Sept 2014 US$m 100 199 (31) 58 (44) 50 95 82 38 0 Phase 1: Original Phase 1: FX savings Phase 1: Cost Ph
Slide 14: Key Recent Developments
Key Recent Developments ● Unified Environmental Authorisation (AAU) permit granted ● Administrative standing permit granted (transmission of mineral rights) H1 2014 ● Government of Andalucía awards €8.8 million grant for development of Rio Tinto ● Plant refurbishment commences ● £13.1 million equity
Slide 15: Phase 1 Progress
Phase 1 Progress 2 0 14 2 0 15 2 0 16 J F M A M J J A S O N D J F M A M J J A S O N D J F M Mile stone s Administrative Standing Mining c ontrac tor appointed Equipment pre- ordered Mining applic ation TIMELINE TO Mining permit Financ e in plac e COMPLETION Mining c ontrac tor mobilization Ramp up t
Slide 16: Refurbishment Progress
Refurbishment Progress Primary Crusher Control Room Primary Crusher Coarse Ore Stockpile Secondary / Tertiary Crusher Area and Screening Area: Replacement of side sheeting and dust extraction unit installed Secondary / Tertiary Crusher refurbished 16
Slide 17: Refurbishment Progress (cont'd)
Refurbishment Progress (cont’d) Milling Area: New cyclone clusters installed Rod Mill Feed Chute installed Rod Mill, sump, pump & piping installled First Cleaner Flotation Cells Rougher flotation Cells refurbished Flotation Area: Cleaner Overflow Manifold 17
Slide 18: Refurbishment Progress (cont'd)
Refurbishment Progress (cont’d) Concentrate thickener & filter press area Wet Section Air Compressors Electrical 132kv Switchyard Refurbished, Main Substation New Reagents Plant Construction Progress Laboratory Setup in progress 18
Slide 19: Refurbishment Progress (cont'd)
Refurbishment Progress (cont’d) Primary Crusher Apron Feeder Refurbished Concentrate Store Tailings Dam refurbishment works in progress Main Substation Fine Ore Stock refurbishment in progress Mill and Flotation Sub Station 19
Slide 20: Optimisation and Expansion Opportunities
Optimisation and Expansion Opportunities ● Potential to expand reserve base – current 2P reserves (123Mt @ 0.49% Cu) are based on a US$2.00/lb pit shell, while M&I resources (200Mt @ 0.46% Cu) are based on a US$3.00/lb pit shell RESERVES/ ● Drilling programme to increase open pit reserves to support
Slide 21: Phase 1 Expansion and Phase 2
Phase 1 Expansion and Phase 2 PHASE 1 EXPANSION – 7.5MTPA PHASE 2 – 9.0-10.0MTPA 21
Slide 22: Concluding Thoughts
Concluding Thoughts 22
Slide 23: Conclusion
Conclusion FULLY FUNDED TO 7.5MTPA PRODUCTION AT RIO TINTO COPPER PROJECT1 – WELL IN EXCESS OF ORIGINAL 5MTPA PLANS AT LOWER COST ALL KEY PERMITS NOW RECEIVED TO COMMENCE PRODUCTION IN Q3 2015 MANAGEMENT TEAM WITH PROVEN PROJECT DEVELOPMENT AND OPERATING TRACK RECORD SUPPORTIVE STRATEGIC SHA