Bci Minerals Ltd · ASX:BCI
Bci Minerals — BC Iron — Shareholder Meeting (November 2009)
25 slides from Bci Minerals's shareholder meeting presentation, Nov 18, 2009
Slide 1: BC Iron Limited Annual General Meeting
For personal use only BC Iron Limited Annual General Meeting November, 2009 Mike Young Chief Executive Office
Slide 2: History of BC Iron – staying focussed
BC IRON LIMITED For personal use only History of BC Iron – staying focussed !! BC Iron lists on Australian Securities Exchange (ASX) in December 2006 !! Resource drilling identifies iron ore at Nullagine - May 2007 !! Memorandum of understanding with Fortescue Metals Group - July 2007 !! Drilling to
Slide 3: The year in review
BC IRON LIMITED For personal use only The year in review !! Updated Resource Estimate – 50.7Mt @ 57% Fe – increase of 82% !! Maiden Ore Reserves – 36Mt @ 57% !! Feasibility Study Complete - June 2009 !! Capital raising $22M – July 2009 !! Joint Venture & rail haulage and port agreement with FMG – Au
Slide 4: BC Iron - Capital & Management
BC IRON - CAPITAL & MANAGEMENT For personal use only Capital Structure Number Board Shares 80.8M Tony Kiernan – Chairman Options 6.1M Mike Young – Managing Director Fully Diluted Total 86.9M Garth Higgo – Non-exec Director Market Cap @ $1.15 $100 M Terry Ransted – Non-exec Director Steven Chadwick –
Slide 5: Nullagine Iron Ore Project
NULLAGINE IRON ORE PROJECT For personal use only Nullagine Iron Ore Project !! Joint venture with FMG !! High quality, direct shipping iron ore deposit !! Simple surface mining with low waste to ore !! 3 to 5 Mt annual production !! In-pit secondary crushing !! Port and rail access secured !! Offtak
Slide 6: Nullagine Project Parameters
NULLAGINE IRON ORE PROJECT For personal use only Nullagine Project Parameters !! Ore Reserves 36Mt 57% Fe (65% CaFe) Bonnie Creek !! Start-up 3 Mtpa, ramp-up 5 Mtpa Shaw River !! US$50m prepayments for 20 Mt offtake over 8.5 years !! CapEx A$43M & W/Cap $17M Nullagine !! OpEx ~$A43/tonne over LOM Ri
Slide 7: Nullagine Joint Venture Milestones
NULLAGINE JV MILESTONES For personal use only Nullagine Joint Venture Milestones Outcamp-Warrigal •! Dec to March 2010 – Award contracts Coongan Well •! April 2010 – Haul road construction begins •! May 2010 – Village & mine centre construction begins •! August 2010 – Mining begins •! September 2010
Slide 8: Revised Start Up Schedule
REVISED START UP SCHEDULE For personal use only FMG Christmas Creek Rail Extension Outcamp-Warrigal •! Rail extension Cloudbreak to Christmas Creek brought forward into 2009 Original Feasibility Base Case •! Start-up at 1.5 Mtpa with trucking to Cloudbreak Coongan Well – 110 km •! Use of public road
Slide 9: Nullagine JV – Outcamp Prospect
NULLAGINE JV – Outcamp Prospect For personal use only 801,000E 802,000E 803,000E 804,000E 805,000E 7,562,000N 7,561,000N Scale 500 m Outcamp Deposit !! Outcropping mesa –style !! Low waste to ore ratio !! Above water table !! No pit – mining off the top 9
Slide 10: Nullagine JV – Outcamp Prospect
NULLAGINE JV – Outcamp Prospect For personal use only Trial mining Bottom of “pit” Water Table !! Shallow “pits” mainly above surrounding plains - mining ore from day 1 !!Above water table - lower environmental impact !!Low OpEx - low strip ratio, use of surface miners 10
Slide 11: Outcamp Mine – Trial mining and bulk sample
OUTCAMP MINE – Trial mining and bulk sample For personal use only Trial mining confirmed: !! Applicability of surface miners to Nullagine’s ore !! Predicted tonnes and grades from the Ore Reserve model !! Predicted production rates !! Simple crushing and screening requirements and the circuit flowsh
Slide 12: Surface Miners
SURFACE MINERS For personal use only Environmental benefits !! Improved and safer mesa edge control !! Drainage management – siltation minimised !! Reduced vibration and ecosystem disturbance VERMEER TL1255 commences at Outcamp Well - NIOJV Engineering benefits !! Selective mining – higher recovery
Slide 13: Trial Mining
TRIAL MINING For personal use only Wirtgen 2500 at Outcamp Well 13
Slide 14: Trial Mining
TRIAL MINING For personal use only Cut ore requires no primary crushing 14
Slide 15: Trial Mining
TRIAL MINING For personal use only Simple secondary screening and crushing circuit 15
Slide 16: Trial Mining
TRIAL MINING For personal use only Nullagine ore stockpile at Outcamp Trial mine 16
Slide 17: June 2009 – Reserves and Resources Statement
NULLAGINE JOINT VENTURE For personal use only June 2009 – Reserves and Resources Statement Probable Ore Reserves Pit Mt Fe CaFe SiO2 Al2O3 P S LOI1000 Outcamp 19.2 56.8 64.8 3.21 1.92 0.01 0.01 12.2 Warrigal 10.3 57.0 64.5 3.67 2.13 0.02 0.01 11.7 Coongan 6.0 57.0 65.1 2.52 1.82 0.01 0.01 12.4 TOTAL
Slide 18: Pilbara Iron Ore Fines
PILBARA IRON ORE FINES For personal use only Nullagine DSO Yandi/Robe Pilbara Fines Element Reserve DSO DSO Fe 57 57 – 58.5 58 - 64 Calcined Fe* 65 64 63-65 SiO2 3.2 3–6 3–4 Al2O3 1.9 1.4 – 2.7 1.3 – 2.1 P <0.02 ~0.04 0.05 – 0.09 LOI 12 9-11 3-8 Size -0.15mm 14 5-20 10-30 Direct Shipping Ore (DSO) !
Slide 19: Seaborne Fines Comparison
For personal use only 62 64 72 60 66 68 70 RRF Calcined Fe BHP Yandi FMG Rocket Fines BC Iron Nullagine Mt Newman Pilbara Blend HI Yandi MAC Sishen SSF Carajas LKAB KBF 19 SEABORNE FINES COMPARISON
Slide 20: Seaborne Fines Comparison
For personal use only 2 4 0 3 5 6 7 1 Carajas Calcined SiO2 LKAB KBF Sishen MAC SSF BC Iron Nullagine Pilbara Blend FMG Rocket Fines Mt Newman HI Yandi RRF BHP Yandi 20 SEABORNE FINES COMPARISON
Slide 21: Seaborne Fines Comparison
For personal use only 0.0 0.5 1.0 1.5 2.0 2.5 3.0 LKAB KBF Carajas Calcined Al2O3 SSF Sishen HI Yandi BHP Yandi FMG Rocket Fines MAC Mt Newman Pilbara Blend BC Iron Nullagine RRF 21 SEABORNE FINES COMPARISON
Slide 22: Seaborne Fines Comparison
For personal use only 0.02 0.04 0 0.03 0.05 0.06 0.07 0.08 0.09 0.01 BC Iron Nullagine Calcined P RRF Carajas BHP Yandi LKAB KBF HI Yandi Sishen FMG Rocket Fines SSF MAC Mt Newman Pilbara Blend 22 SEABORNE FINES COMPARISON
Slide 23: Sintering Quality – Why is NIOJV ore so good?
SINTERING QUALITY For personal use only Why is NIOJV ore so good? Chemical advantages !! Ultra-low Phosphorous (<0.02%) !! High Calcined Fe (>64%) Physical advantages Ignition hood on sinter strand !! Low ultra-fines – improves sintering speed !! Large fines product sizing (9-10 mm) – lower crushing
Slide 24: To be a successful iron ore mining company
BC IRON LIMITED For personal use only To be a successful iron ore mining company........ !! Quality resources !! Port and rail infrastructure !! Off take agreement !! Project financing !! Good management and !! A great team “....ticking all the boxes!” 24
Slide 25: For personal use only
For personal use only This release may include forward-looking statements. These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, some of which are out