Turnstone Resources Ltd · ASX:TSR
Turnstone Resources — Davenport Resources — Mines and Money 2018
14 slides from Turnstone Resources's conference presentation, November 2018
Slide 1: Mines and Money Presentation November 2018
Mines and Money Presentation November 2018 BUILDING EUROPE’S LARGEST POTASH INVENTORY © Davenport Resources Ltd. November 2018 www.davenportresources.com.au
Slide 2: Disclaimer
DISCLAIMER Davenport Resources Limited (“Davenport”, “DAV”, “The Company”) has issued this Presentation This Presentation is not intended to be, and is not, a prospectus, offering memorandum or private for informational purposes only. It is not intended to, and does not, constitute specific advice t
Slide 3: German South Harz Region
GERMAN SOUTH HARZ REGION •Davenport owns three perpetual mining licences and two exploration licences covering 659 km2 in the South Harz potash basin in central Germany. •This region represents the cradle of potash mining from Muhlhausen Ohmgebirge where 181.7 Mt potash has been extracted since the
Slide 4: German South Harz Region
GERMAN SOUTH HARZ REGION •The three perpetual mining licence areas were bought from the German government in 2017. As perpetual mining licences, they carry no rent, royalty or development commitment. •The licence areas are located on the boundaries of former GDR potash mines and were earmarked for f
Slide 5: Ebeleben JORC Inferred Resource 576 Million Tonnes
EBELEBEN JORC INFERRED RESOURCE 576 MILLION TONNES •April 2018 - JORC Inferred Resource of 576 million tonnes at 12.1% K2O (69.7 Mt of K2O) which comprises 324 Mt sylvinite at 15.6% K2O and 252 Mt carnallitite at 7.5% K2O. •Extends from now closed Volkenroda mine to Davenport’s Gräfentonna Licence.
Slide 6: Mühlhausen, Keula and Nohra-Elende 2.83 Billion Tonnes
MÜHLHAUSEN, KEULA AND NOHRA-ELENDE 2.83 BILLION TONNES •JORC resource of 2.83 Billion tonnes containing 289.4 Mt K2O of mixed potash salts (ASX Announcements 16 October 2018 and 13 November 2018) within Muhlhausen-Keula-Nohra Elende area. •Contains 935 Mt Sylvinite and 1893 Mt Carnallitite. The Sylv
Slide 7: Total JORC Inferred Resources November 2018
TOTAL JORC INFERRED RESOURCES NOVEMBER 2018 HORIZON TONNAGE (MT) K2O % K2O (MT) EBELEBEN Sylvinite 324 15.6 50.4 Carnallitite 253 7.5 18.9 MUHLHAUSEN Sylvinite 935 12.3 115.0 Carnallitite 1893 9.2 174.5 TOTAL JORC 3,405 10.5 358.8 INFERRED •Resources could increase further from Gräfentonna, Küllsted
Slide 8: Comparative Analysis – Attributable Resources
COMPARATIVE ANALYSIS – ATTRIBUTABLE RESOURCES Company Davenport Danakali Sirius Minerals Highfield Kore Potash Resources TICKER DAV.ASX DNK.L SXX.L HFR.ASX KP2.L LOCATION GERMANY ERITREA UK SPAIN CONGO INTEREST 100% 50% 100% 100% 97% ATTRIBUTABLE RESOURCES Mt M&I - 627 820 266 508 INFERRED 3,405 18
Slide 9: Comparative Analysis - EV per attributable K2O Resource US$/t
COMPARATIVE ANALYSIS - EV per attributable K2O Resource US$/t 4.5 $4.10 4 3.5 3 2.5 2 $1.89 $1.91 1.5 1 0.5 $0.42 $0.08 0 Sirius Highfield Danakali Kore Davenport Page 9 © Davenport Resources Ltd. November 2018 www.davenportresources.com.au
Slide 10: Potash Market
POTASH MARKET Source: Integer Research •As global population increases, the available arable land per capita will continue to decrease. •Potash demand and prices are rising and the trend is forecast to continue. •` Page 10 © Davenport Resources Ltd. November 2018 www.davenportresources.com.au
Slide 11: Fast Track Schedule
FAST TRACK SCHEDULE 2018 2019 • JORC Resource for Ebeleben • JORC Resource for Mühlhausen areas • Identify locations for twin drillholes • Drill twin holes and verify historic data* • Elevate to JORC Indicated status • Conduct PEA/Scoping Study * Pending funding Page 11 © Davenport Resources Ltd. No
Slide 12: Why Davenport Resources? A Compelling Business Case
WHY DAVENPORT RESOURCES ? A COMPELLING BUSINESS CASE • Large high quality resource in historic potash region • Resources support long-life project > 50 years • Low-risk jurisdiction This project ticks • Regional government supportive of job creation projects all the boxes • Proximity to markets (Eur
Slide 13: Building Europe's Largest Potash Inventory
BUILDING EUROPE’S LARGEST POTASH INVENTORY © Davenport Resources Ltd. November 2018 www.davenportresources.com.au
Slide 14: Now Exhibiting at Booth D9
NOW EXHIBITING AT BOOTH D9 INVESTOR & MEDIA ENQUIRIES Dr Chris Gilchrist - Managing Director Paul Cahill - Managing Director Davenport Resources Ltd Bacchus Capital Advisers Limited +353 41 988 3409 +44 7496 155 881 cgilchrist@davenportresources.com.au paul.cahill@bacchuscapital.co.uk © Davenport Re