Ormonde Mining Plc · AQUIS:ORM
Ormonde Mining — Shareholder Meeting (September 2018)
19 slides from Ormonde Mining's shareholder meeting presentation, Sep 27, 2018
Slide 1: Annual General Meeting
Annual General Meeting 27 September 2018 Turnkey crush and screen plant - Barruecopardo Tungsten Project, Spain 1
Slide 2: Disclaimer
ORMONDE MINING Disclaimer The content of this document has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (as amended). Reliance on this document for the purpose of engaging in any investment activity may expose an individual to a signific
Slide 3: Summary
Summary ▪ Ormonde’s primary activity is through its 30% interest in the Barruecopardo Tungsten Project, Spain o Mine construction well advanced and commissioning commenced o Projected construction costs remain within €53.6M budget o Initial production scheduled for Feb-19, followed by ramp-up phase
Slide 4: Tungsten price - past 12 months
Tungsten price - past 12 months APT closures / reductions related to environmental inspections in Jiangxi Province Correction / consolidation following steep rise in Q3-17 Chinese production (up from 2016 low of $160 returns, weak trading demand during summer, general fall in metal prices Chinese Ne
Slide 5: Tungsten Outlook
Tungsten Outlook ▪ Generally positive supply-demand outlook: o “Pricing momentum is forecast to accelerate in Q1 2019 on the back of potential Chinese government-enforced environmental inspections reducing tungsten supply during the period, as well as restocking activity early in the year and furthe
Slide 6: Project Outline 2017 - Site overview and status
September Project Outline 2017 –Timeline Site overview and status Dam earthworks Workshop Contractor area • Ramp up of construction and implementation • Advancing detailed engineering, procurement, major contract tenders • Early construction works such as dams construction and site facilities (works
Slide 7: Project Outline 2018 - Site overview and status
September Project Outline 2018 –Timeline site overview and status Crush & Screen Process ROM Pad Plant Plant Water Treatment Plant Main Water Dam Workshop Dam A Offices HT Substation ✓ Crush & Screen Plant: Construction completed, in commissioning ✓ Process Plant: 80% complete, commissioning to comm
Slide 8: Site Fly-Over Video
SiteProject Fly-Over Outline VideoTimeline 8
Slide 9: Construction: Crush & screen plant complete
Construction: Project Outline Crush Timeline & screen plant complete 1.1 million tonnes per year of ore, blocks up to 80cm ROM (“Run of Mine”) stockpile Primary crusher Crushed ore stockpile & reclaim tunnel Primary screen Secondary, tertiary & quaternary crushers Secondary screens Fine ore (up to 5
Slide 10: Construction: Process plant well advanced
Construction: Project Outline Process Timeline plant well advanced 10
Slide 11: Construction: Process plant well advanced
Construction: Project Outline Process Timeline plant well advanced 11
Slide 12: Construction: Process plant well advanced
Construction: Project Outline Process Timeline plant well advanced 12
Slide 13: Construction: Process plant well advanced
Construction: Project Outline Process Timeline plant well advanced ▪ High quality equipment suppliers including Metso, FL Smidth, Weir Minerals, IHC, Holman Wilfley, etc. ▪ Process pipework and electrical installations commenced ▪ Erection of preconcentration screen structure also underway 13
Slide 14: Process plant: preconcentration circuit
Process Project plant Outline installed Timeline equipment Preconcentration circuit – gravity separation using jigs & spirals: ▪ Crushed feed is screened, with material over 1mm size going to jigs, and below 1mm size going to spirals ▪ Both methods use the simple properties of water, gravity and the
Slide 15: Process plant: upgrade circuit
Process Project plant Outline installed Timeline equipment Upgrade circuit: ▪ Shaking tables to remove silicates ▪ Small flotation circuit to remove sulphides Shaking table ▪ Tungsten concentrate then thickened, dried and cooled to produce a saleable product ▪ (saleable product 65% WO3, Barruecopard
Slide 16: Commissioning in progress
Commissioning Project Outline in Timeline progress ✓ Crush & Screen Plant: Commissioning in progress ✓ Water Treatment Plant: Initial commissioning complete ✓ Water Pipeline: Commissioned, pit dewatering underway ✓ Process Plant: Early Dec-18 to Feb-19 Stockpile feed conveyor ROM pad Crushed ore sto
Slide 17: Funding status
Funding Project status Outline Timeline EGM Circular Saloro Forecast ITEM Variance (Grouped) (31 Aug 18) €M €M €M Capex (plus related VAT) 56.5 54.7 - 1.8 Holding Costs, inc. Management & Monitoring Fees 8.1 11.8 3.7 Transaction Costs & Interest During Construction 7.5 7.9 0.4 Other Costs 6.0 7.0 1.
Slide 18: Looking ahead: next months
Looking Project ahead: Outline next Timeline 12 months ▪ Q4’18 – Q1’19: o Process plant completion by Dec-18 • Capex expected to remain on budget o Commissioning of crush and screen plant, water management system, site services to be completed o Production readiness activities, including: • grade co
Slide 19: Annual General Meeting
Annual General Meeting 27 September 2018 Turnkey crush and screen plant - Barruecopardo Tungsten Project, Spain 19
Ormonde Mining — Shareholder Meeting (September 2018) on 6ix