Centaurus Metals Limited · ASX:CTM

Centaurus Metals — Investor Presentation (March 2010)

18 slides from Centaurus Metals's investor presentation, March 2010

1. Slide 1: Developing a Brazilian Iron Ore Business

   Developing a Brazilian Iron Ore Business to be renamed from Glengarry Resources Limited Darren Gordon, Managing Director

2. Slide 2: Disclaimer

   Disclaimer GLENGARRY RESOURCES LIMITED PROPOSES TO CHANGE ITS NAME TO CENTAURUS METALS LIMITED. ALL REFERENCES TO ‘THE COMPANY’ OR ‘CENTAURUS’ RELATE TO GLENGARRY RESOURCES LIMITED ACN 009 468 099. Not all images in this presentation are images of Glengarry Projects. This presentation does not const

3. Slide 3: Company Structure

   Company Structure Capital Structure Shares on Issue* 604.4m Options** 101m Share Price $0.061 Market Capitalisation $37m Cash at bank (28 Feb 2010) $7.7 million Debt NIL Enterprise Value $29.5m Shareholding ASX Code ASX Code Directors & Management 15% GGY CTM Top 40 38% * Represents the number of sh

4. Slide 4: Centaurus Metals Board & Key Management

   Centaurus Metals Board & Key Management DARREN GORDON Managing Director  Over 15 years resource industry experience with particular emphasis on resource funding and structuring. 9 years experience as CFO of Gindalbie Metals DIDIER MURCIA Chairman  25 years corporate and resource industry experienc

5. Slide 5: History of Centaurus Metals

   History of Centaurus Metals  Centaurus (ASX: CUR) listed on the ASX in 2007  2007 - 2009 CUR continued to build its Iron Ore business in Brazil:  Completing the acquisition of San Greal Resources Pty Ltd, a company focused on mineral exploration and development in Brazil  Assembling a local Port

6. Slide 6: Brazilian Iron Ore Business

   Brazilian Iron Ore Business  Centaurus Metals’ Brazilian Iron Ore focus is to:  Produce from a number of Brazilian iron ore mines selling to the Brazilian domestic steel mills  Secure projects that will enable Centaurus Metals to become a significant iron ore exporter  By 2013 Centaurus Metals e

7. Slide 7: Brazil

   Brazil  Latin America’s largest economy  Rapidly growing population (currently 200 million)  IMF predicts growth of 4.7% in 2010  US$221b committed to infrastructure spend  Hosting FIFA World Cup in 2014 and the Olympic Games in 2016  Brazil is a Top 10 global steel producer  Brazil is the wo

8. Slide 8: Brazilian Iron Ore Market

   Brazilian Iron Ore Market  Unlike Australia, a large market for the consumption of iron ore is located alongside iron ore projects  Major steel companies, with steel mills within a 150km radius of Centaurus Metals’ projects have significant domestic production with major capacity upgrades planned

9. Slide 9: Project Locations

   Project Locations  The state of Minas produces over 170mtpa of iron ore annually (60% of Brazil’s production)  Minas produces 37% of Brazil’s steel and is the largest producer of pig iron in Brazil  Vale’s Itabira complex has been mined since 1942, producing ~60mtpa through the last decade 9

10. Slide 10: Supplying Iron Ore to Brazil's Steel Mills

    Domestic Iron Ore Business “Supplying Iron Ore to Brazil’s Steel Mills” 10

11. Slide 11: Domestic Iron Ore Business

    Domestic Iron Ore Business  Targeting production from a number of low OpEx, low CapEx mines, in close proximity to established infrastructure  Centaurus Metals aims to:  commence production in 2011  produce ≥ 3mtpa by the end of 2013, to be sold into Brazil’s domestic steel mills for anticipated

12. Slide 12: Itambé Project (100%)

    Itambé Project (100%)  Project to be a 1mtpa producer of high grade  Studies indicated total operating cost iron ore of A$14/t versus a sale price of ~$34/t, for total capex of only A$17m  15.5Mt JORC Inferred Resource  At 1mpta an operating cashflow of Fe % SiO2% P% Al2O3 % Mn% A$20 million per

13. Slide 13: Passabem Project (100%)

    Passabem Project (100%)  Projected to be a 1mtpa producer of high grade iron ore  2.6Mt JORC Inferred Resource Fe % SiO2% P% Al2O3 % Mn% 31.2 48.9 0.035 2.90 0.11  Only 500m (10%) of strike drilled to date. Open at depth and remaining 4.75km along strike  Targeting a total resource of 15-25Mt @

14. Slide 14: Cenibra Project (earning 100%)

    Cenibra Project (earning 100%)  Aim is to define targets for domestic production of +1mtpa  A portfolio comprising 63 iron ore tenements, covering an area of 1,014 square kilometres in the State of Minas Gerais  Currently conducting exploration across the entire package  One prospect, known as t

15. Slide 15: Supplying Iron Ore to the World Market

    Iron Ore Export Business “Supplying Iron Ore to the World Market” 15

16. Slide 16: Iron Ore Export Business

    Iron Ore Export Business  Brazil is the largest exporter of high grade iron ore in the world  Centaurus Metals aims to acquire or identify a project capable of producing 12-15mtpa of 64-69% Fe product for a minimum project life of 10 years, to export to world markets  Investigating opportunities

17. Slide 17: Summary

    Summary  Highly experienced, well funded team with extensive global experience in the financing, development and operation of iron ore projects  Building a business to supply domestic steel mills, and in time also world markets  Iron ore production by 2011  At least 3mpta to be sold domestically

18. Slide 18: Developing a Brazilian Iron Ore Business

    Developing a Brazilian Iron Ore Business Contacts: Darren Gordon Mark Papendieck Managing Director General Manager - Commercial (+618) 9321 6201 (+618) 9321 6201  darren.gordon@centaurus.com.au  mark@centaurus.com.au

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