Slide 1: Developing a large scale uranium project in Spain
ASX/AIM:BKY For personal use only Developing a large scale uranium project in Spain www.berkeleyresources.com.au May 20131
Slide 2: Executive Summary
Executive Summary For personal use only • Uranium projects in Spain • Total Mineral Resource Estimate of 61 Mlb U3O8 (@ 430 ppm) • Flagship Salamanca Project Scoping Study completed based on integration of Retortillo & Alameda deposits only (33.9 Mlb U3O8) demonstrates robust Project with stro
Slide 3: Project Location
Project Location For personal use only Spain • Historical uranium mining • Existing nuclear power industry • Government support for mining industry • Skilled local workforce • Internationally competitive contractors and suppliers 3
Slide 4: Salamanca Project
Salamanca Project For personal use only • Scoping Study evaluated integrated project comprising Retortillo and Alameda only (33.9 Mlb) • Significant growth potential through inclusion of Gambuta and Satellite deposits (27.1 Mlb) • Total Resource = 61 Mlb U3O8 (@ 430 ppm) • Exploration upside • Excel
Slide 5: Scoping Study – Conceptual Approach
Scoping Study – Conceptual Approach For personal use only • Staged development and capital expenditure incorporating two deposits Initial development and production at Retortillo Subsequent development of Alameda in Year 2 Steady state production in Year 3 from both deposits • Open pit mining
Slide 6: Scoping Study – Robust Project
Scoping Study – Robust Project For personal use only Scoping Study: Based on current Retortillo and Alameda MREs Minimum 11 years Mine Life Including 7 years steady state operation 3.2 Mlb per annum (average steady state) Production 2.6 Mlb per annum (average LOM) Operating Cost (C1) US$25.65 per po
Slide 7: Mineral Resources – Retortillo & Alameda
Mineral Resources – Retortillo & Alameda For personal use only Retortillo and Alameda Combined Mineral Resource Estimate as at July 2012 Reported at a cut-off grade of 200 ppm U3O8 Tonnage Grade Contained Uranium (million tonnes) (ppm U3O8) (million pounds) Indicated Resource 29.0 437 27.9 Inferred
Slide 8: Shallow Open Pit Mining
Shallow Open Pit Mining For personal use only • Open pit mining using drill & blast followed by diesel powered truck & shovel operation • Transfer mining method to facilitate continuous backfill / rehabilitation • Shallow open pits – max depths 90m at Retortillo and 135m at Alameda • Low strip ratio
Slide 9: Heap Leach Processing
Heap Leach Processing For personal use only • Extensive metallurgical testwork undertaken 5T representative sample of Alameda – SGS laboratories in Perth (2011) 5.5T representative sample of Retortillo – Mintek laboratories in Johannesburg (2012) • Heap leach technology selected as preferred lea
Slide 10: Process Flow Sheet
For personal use only Process Flow Sheet 10
Slide 11: Excellent Infrastructure
Excellent Infrastructure For personal use only • Readily accessible from existing public road network • Water available from both adjacent water courses and on-site bores • Power supplied from local grid at US$0.10/kWh • Total power requirements low (~3.7 MW at both sites) • Proximal to city of Sala
Slide 12: Excellent Infrastructure
Excellent Infrastructure For personal use only Access Power Water Site Infrastructure Regional Infrastructure Sulphuric Acid Sources Significant Capex savings 12
Slide 13: Pre-Feasibility Study
Pre-Feasibility Study For personal use only • SENET of South Africa engaged as Study Manager • Study team comprises specialists across all disciplines, including in-country representatives SRK Consulting (mine design) Knight Piesold (heap design) Duro Felguera (in-country project cost estimate
Slide 14: Permitting
Permitting For personal use only • Management team with strong track record of successful mine permitting in Spain • Permitting process for uranium mining and processing well understood • All plans developed in conjunction with local experts and authorities • Best practice environmental management a
Slide 15: Indicative Timeline
Indicative Timeline For personal use only 2012 2013 2014 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Scoping Study Pre-Feasibility Study Definitive Feasibility Study Permitting - Retortillo Permitting - Alameda Key development milestones over next 18 months 15
Slide 16: Production Growth Potential – Gambuta
Production Growth Potential – Gambuta For personal use only • Potential to increase production scale or mine life of Salamanca Project, once incorporated • Scoping Study commenced following positive results of initial Desktop Study • Scope of Work: Initial mine design and production/materials move
Slide 17: Exploration Upside – Retortillo and Alameda
Exploration Upside – Retortillo and Alameda For personal use only • Significant exploration potential: Numerous untested or poorly tested radiometric anomalies Exploration under shallow Tertiary cover Extensions to known resources • 2013 exploration work program includes: Detailed radiometri
Slide 18: Experienced Board and Management
Experienced Board and Management For personal use only Ian Middlemas Chartered Accountant with over 20 years mining industry experience; extensive Chairman corporate and management expertise Leading international geologist whose technical qualifications include an honours Jim Ross degree in Geology
Slide 19: Corporate
Corporate For personal use only Capital Structure Shares on Issue 179.4m Unlisted Options & Rights 16.2m Market Cap. (undiluted @ A$0.29) A$52.0m Cash (31 Mar 13) ~A$30.0m Substantial Shareholders Anglo Pacific 15.1% Hadron 7.9% Resource Capital Fund 7.2% CBA 6.3% Management ~4.0%
Slide 20: Investment Case
Investment Case For personal use only • Large (61.0Mlb @ 430 ppm) resource base HIGH QUALITY ASSET BASE • Salamanca Project - shallow open pit mining, heap leach process • Significant production scale and mine life, excellent infrastructure • Scoping Study considered only Retortillo and Alameda depo
Slide 21: Additional Information
ASX/AIM:BKY For personal use only Additional Information www.berkeleyresources.com.au 21
Slide 22: Geology – Retortillo & Alameda
Geology – Retortillo & Alameda For personal use only • Vein Type deposits hosted in meta- sedimentary sequences adjacent to granites • Retortillo mineralisation includes vein, stockwork and disseminated mineralisation in joint / fracture fillings associated with brittle deformation • Alameda mineral
Slide 23: Grade Tonnage Curves – Retortillo & Alameda
Grade Tonnage Curves – Retortillo & Alameda For personal use only • G-T curves highlight significant impact of cut-off grade (COG) • At 100 ppm U3O8 COG, which approximates the mining COG derived from the Scoping Study pit optimisations, MRE’s for Retortillo and Alameda total 18.2 Mlb and 25.4 Mlbs
Slide 24: Total Mineral Resources
Total Mineral Resources For personal use only Mineral Resources as at Oct 2012 Reported at a cut-off grade of 200 ppm U3O8 Resource Tonnage Grade Contained U3O8 Category (million tonnes) (ppm U3O8) (million pounds) Retortillo Indicated 8.9 395 7.8 Inferred 6.2 366 5.0 Total 15.2 383 12.8 Alameda Ind
Slide 25: Scoping Study Cost Estimates
Scoping Study Cost Estimates For personal use only Operating Cost (C1) – US$25.65/lb U3O8 (ave. LOM) Capital Costs (to steady state) – US$179 million Retortillo - US$30.70/lb Retortillo - US$84m G&A Pre-StripG&A 5% Indirects 4% 3% 20% Mining Processing Processing 43% 52% 49% Infrastructure 24% Alame
Slide 26: Permitting
Permitting For personal use only Key Permitting Processes: 1) Exploitation Concession / State Reserve suitable for Exploitation (Mining Permit) 2) Authorisation of the Process Plant as a Radioactive Facility 3) Authorisation for the Exceptional Use of Rural Land for Industrial Purposes Substantive A
Slide 27: Permitting Status - Retortillo
Permitting Status - Retortillo For personal use only Exploitation Concession (Mining Permit): Application for Exploitation Concession submitted in Oct 11, together with Environmental Scoping Document (ESD) ESD subjected to consultation period, comments received incorporated into Environmental Im
Slide 28: Permitting Status - Retortillo
Permitting Status - Retortillo For personal use only Authorisation of the Process Plant as a Radioactive Facility: Initial Authorisation for the Radioactive Facility documentation submitted in Mar 12 Documentation approved for Public Information in Jul 12 Public Information Period concluded in
Slide 29: Permitting Status - Retortillo
Permitting Status - Retortillo For personal use only Authorisation for the Exception Use of Rural Land for Industrial Purposes: Authorisation for the Use of Rural Land for Industrial Purposes submitted in Mar 12 Documentation approved for Public Information in May 12 Public Information Period
Slide 30: Permitting Status - Alameda
Permitting Status - Alameda For personal use only State Reserve suitable for Exploitation (Mining Permit): Application, together with Environmental Scoping Document, submitted in Dec 12 Baseline studies being updated for inclusion in EIA Exploitation, Reclamation and Closure Plans being prepar
Slide 31: Important Notices
Important Notices For personal use only Disclaimer Notice The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Berkeley Resources Ltd (“BKY”) nor does it form the basis of any contract or co