Corcel Plc · LSE:CRCL
Corcel — Regency Mines — Investor Presentation (April 2014)
34 slides from Corcel's investor presentation, April 2014
Slide 1: Investor Presentation April 2014
Investor Presentation April 2014
Slide 2: Disclaimer
Disclaimer These presentation slides (the “Slides”) do not constitute an offer to the public or an offer for sale or solicitation to purchase or subscribe for any securities of the Company and they should not be relied on in connection with a decision to purchase or subscribe for any such securities
Slide 3: Divisional Summary
Divisional Summary Base Metals Ni and Co - Mambare PNG Au and Ni - Fraser West Others Mining Technology Agrominerals Ni-Laterite processing – P₂O₅ and K- Sudan Aus/DNi New Tenements - TBD Apply DNi Technology Elsewhere Second JV Project 3
Slide 4: Regency Investment Case
Regency Investment Case RGM Upside Junior Mining Market Sentiment 4
Slide 5: Project and Transaction Pipeline
Project and Transaction Pipeline •Exploration at Red Sea and Jebel Abyad Sudan •ASTER imagery and petrographic interpretation and analysis underway •Low-cost site visits planned •Sudanese government support for mineral exploration •DNi JV with PT Antam in Indonesia Nickel •Testwork complete in Perth
Slide 6: Fraser West – Western Australia
Fraser West – Western Australia
Slide 7: Fraser West Project – Western Australia
Fraser West Project – Western Australia o RGM retains 20% of Fraser West o 80% held and under development by RAM Resources (ASX:RMR) o 271km² located in the Albany-Fraser orogeny o Highly prospective region – 20km west of Nova nickel copper massive sulfide discovery by Sirius Resources NL o $1.5m ra
Slide 8: Fraser West Project – Western Australia
Fraser West Project – Western Australia 8
Slide 9: Fraser West / RAM – Case Study
Fraser West / RAM – Case Study o Nov ’11 – RGM applies for and receives 3 x tenements in Fraser Range o Identified due to “Tropicana” style gold mineralization potential o Along the Yilgarn / Albany Fraser contact zone o Aquisition cost to RGM: $14.1k o Jul ’12 – Sirius Resources NL announces “Nova”
Slide 10: Agrominerals - Sudan
Agrominerals - Sudan
Slide 11: Project Highlights
Project Highlights o Concession areas prospective for phosphate, potash and gypsum o Great resource potential; prospective under- explored areas in stable regions of north Sudan o Phosphogenesis in Jebel Abyad concession o Potential geological links with prolific phosphate mine trend o Potash explor
Slide 12: Key Concession Areas
@REGENCYWINES LEGEND @novonai copa @ Stote Copira! © Town AE Airport RED) \ country Border RED)SEA State Boundary RS9) \ Road X reilway \ River | Key Concession oO Other Concession ABU HASHEM 0S 7B KURUN) REGENCYMINES jes M RAS| Sudan Agromineral Project March 2014 Concession Location Map Projection
Slide 13: RGM-IMRAS Earn-in Agreement
RGM-IMRAS Earn-in Agreement Sudan agromineral concession 100% IMRAS STAGE 1 (Completed) • Earn-in agreement after successful Due Diligence and payment of $100,000 International Mineral Resources (Agrominerals Sudan) Ltd STAGE 2 (In Progress) • Agreement of terms by which the licenses would progress
Slide 14: RGM Exploration Timeline
RGM Exploration Timeline December 12 July 13 Phos 7B (Abu RS 9 (Red Sea) exploration Hashem) site programme. Mapping, visit sampling. Gypsum & November 13 May 14 Potash targets identified Phos 7 (Jebel Red Sea Project Position July 12 Abyad) exploration trenching RGM due January 13 programme. and di
Slide 15: Why Agrominerals in Sudan?
Why Agrominerals in Sudan? o Potential extension of the South Tethyan Phosphorite Province (“STPP”) o North African & Middle East section = Mediterranean Phosphate Belt (“MPB”) o Prolific phosphate mine trend extending from present-day Turkey to Morocco o Contains 79% of world phosphate reserves o A
Slide 16: Primary Exploration Targets
Primary Exploration Targets Sedimentary Phosphate - Jebel Abyad concession o Target extensions of the Mediterranean Phosphate Belt (“MPB”) o Comparative deposits: - Abu Tartur deposit, Egypt: 987Mt @ 25% P2O5 - Al Jalamid deposit, Saudi Arabia: 1.07Bt @ 20% P2O5 Potash - Red Sea concession o Target
Slide 17: Mambare Nickel Laterite Project
Mambare Nickel Laterite Project
Slide 18: Mambare Overview
Mambare Overview o Lateritic nickel-cobalt exploration in Mambare Plateau, PNG − Ideal logistics for large, long-life project and regional treatment hub o Potentially one of the world’s largest single nickel laterite deposits o Operated through a 50:50 Joint Venture Plateau between RGM and Direct Ni
Slide 19: Mambare Location
Mambare Location Port of Oro Bay Located in Kokoda, Oro Province, Papua New Guinea 19
Slide 20: RGM – DNi Joint Venture Structure
RGM – DNi Joint Venture Structure 6.93% 50% 50% 100% EL1390 • 20 Year License from DNI for lateritic treatment technology • Capped at 40k tons per annum • Options to increase to 90k tons per annum • Right to a license for any agreed additional project • RGM 1% GSR on sales revenue from Mambare 20
Slide 21: Mambare JORC Resource Estimate
Mambare JORC Resource Estimate June 2012 JORC MRE (Indicated & Inferred) - CSA Global o 162.5 million tonnes grading 0.94% nickel & 0.09% cobalt o 1.53 million tonnes of contained nickel o 2 resource areas: ‘North (Mambare Plateau)’ & ‘South (Slopes)’ o 2 zones of enrichment: ‘Limonite’ & ‘Saprolite
Slide 22: Mambare Project in Context
Mambare Project in Context Wood Mackenzie/RGM - 2012 22
Slide 23: Mambare Project Valuation
Mambare Project Valuation Indicated + Inferred EV EV / Resource Peer Companies Location of Project (Contained Ni Mt) US$ M US¢ / lb Ni Horizonte Minerals 1.265 $41.92 ¢1.50 Brazil Anfield Nickel 1.525 $77.99 ¢2.32 Guatemala Mindoro Resources 0.290 $6.91 ¢1.08 Philippines Regency Mines 0.764 $7.51 ¢0
Slide 24: Mining Technology
Mining Technology
Slide 25: Investment in Direct Nickel (DNi)
An elegant and robust flowsheet Investment in Direct Nickel (DNi) Overview of Direct Nickel (ASX:DNI) o Developer of the revolutionary DNi process for processing of nickel laterites o Partnering with PT ANTAM in Indonesia to develop first-ever DNi Process Plant o Backed by multiple blue chip investm
Slide 26: DNi Process Overview
DNi Process Overview Proven Nickel Processing Technology o Atmospheric hydrometallurgical processing route; produces number of final saleable products o Treats all laterites: limonite & saprolite o Uses nitric acid as the leaching agent which is recovered and recycled o Low capital and operating cos
Slide 27: DNi Test Plant in Perth
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Slide 28: DNi Process – Highlights of Test Program
DNi Process – Highlights of Test Program Key Results o Valuable process data collected; health & safety compliance validated o Patented recovery & recycling process returned +95% of the nitric acid for re-use o Solid waste streams less than 50% of original mass of feed material o Operating cost of $
Slide 29: RGM Nickel Exposure
RGM Nickel Exposure ~7% NYSE:TEK AIM:RGM ASX:DNI 50% 50% 50% Mambare Project (162MT JORC) PT DNi 50% 65% Joint-Venture Planned Indonesian plant using DNi Technology 29
Slide 30: DNi in Indonesia - JV with PT Antam
DNi in Indonesia - JV with PT Antam o First commercial processing plant planned using the DNi technology o Direct Nickel has a JV with a local partner, PT ANTAM o 65% owned by the Indonesian Government o Feasibility Study commenced at ANTAM’s Buli operation o Completion expected early in 2015 o Clos
Slide 31: Corporate Investments
Corporate Investments 31
Slide 32: Spin-offs and Strategic Holding
Spin-offs and Strategic Holding Red Rock Resources (AIM: RRR) o RGM floated Red Rock Resources on AIM o Gold production and exploration in Kenya and Ivory Coast o Market Cap of £5.97m o RGM retains 9.83% stake worth £0.587m RAM Resources (ASX: RMR) o RAM owns 80% of Fraser West Project o RGM selling
Slide 33: RGM Corporate Profile
RGM Corporate Profile London AIM Listing: RGM Share Price: 0.31p Market Capitalisation: £4.03m Shares in Issue: 1,298,734,983 Directors: Andrew Bell Chairman and CEO Scott Kaintz Executive Director Edmund Bugnosen Non-Executive Director John Watkins Non-Executive Director Julian Lee Non-Executive Di
Slide 34: Contact Details
Contact Details Investment or Project Enquiries: General Enquiries: Andrew Bell Scott Kaintz Chairman and CEO Director and COO Email: Andrew.Bell@regency-mines.com Email: Scott.Kaintz@regency-mines.com Marketing or Investor Enquiries: Press Enquiries: Natasha Walton Rupert Trefgarne Head of Marketin