Slide 1: Progressing towards Production
For personal use only Progressing towards Production August 2016
Slide 2: Disclaimer
Disclaimer For personal use only This presentation includes certain statements that may be deemed ‘forward-looking statements’. All statements, other than statements of historical fact, that refer to any future production, resources or reserves, exploration results and events that Tungsten Mining NL
Slide 3: Tungsten Mining NL
Tungsten Mining NL For personal use only Tungsten Mining NL is an emerging Australian tungsten developer listed on the Australian Securities Exchange. The Company’s prime focus is the development of tungsten projects in Australia.
Slide 4: Corporate Overview
Corporate Overview For personal use only Capital Structure ASX: TGN Shares on issue 263,652,708 ordinary shares Unlisted Options Nil Market Capitalisation $13.2 (at 5 cps) Cash as at 30 June 2016 $1.56 million Top 20 shareholders 79% Board and Management Gary Lyons Non-Exec Chairman Experienced comp
Slide 5: Project Portfolio
Project Portfolio For personal use only • Tungsten Mining has established a portfolio of advanced tungsten (scheelite) development projects • Mineral Resources* of 88.6 Million tonnes at 0.18% WO3, containing more than 15.5 million MTU (metric tonne units) of WO3 at a 0.10% cut-off grade. • Mt Mulgi
Slide 6: Tungsten - a unique metal
Tungsten - a unique metal For personal use only Tungsten a metal of unique characteristics Highest melting point Highest tensile strength Lowest co-efficient of expansion High density Period 6 / Group 6 74 183.85 Non-corrosive Making it a commodity of critical 5700°C importance in today’s
Slide 7: Tungsten uses
Tungsten uses For personal use only • Tungsten plays a critical role in industrial engineering and extractive industries reliant on high speed, wear resistant cutting tools and wear plates. • The main constituent of cemented carbides is tungsten monocarbide (WC), which has hardness close to diamond.
Slide 8: Tungsten – a strategic element
Tungsten – a strategic element For personal use only • Tungsten’s unique properties means limited or no substitution from other metals • Global tungsten (W) production is estimated to be circa 90,000 tpa from both primary (mine production) and secondary (recycled) sources. • Roskill estimates that C
Slide 9: Market low creates opportunity
Market low creates opportunity For personal use only • Ammonium paratungstate (APT) is a key intermediate tungsten product and pricing benchmark quoted in $US/MTU. • Concentrates typically traded at ~20% discount to APT price. • Tungsten Mining has taken the opportunity to acquire quality assets at
Slide 10: Delivering scale and leverage
Delivering scale and leverage For personal use only Tungsten Mining has the second largest Mineral Resource inventory of ASX listed tungsten companies providing the platform for the Company to become a globally significant player within the primary tungsten market. Peer Comparison The graph depicts
Slide 11: …and positioned for growth
…and positioned for growth For personal use only Producers Developers Notes: 1. Market Capitalisation is as at close of trading 25 July 2016 2. Contained Metal is based on the data disclosed in the published 2015 Annual Mineral Resource and Reserve Statements of peer entities 3. TGN contained metal
Slide 12: Factors for success
Factors for success For personal use only Large scale deposits supporting robust project economics Existing infrastructure driving low capital expenditure Low mining costs from near surface mineralisation and low strip ratios Simple metallurgical recovery and processing route Stable politi
Slide 13: Targeted acquisition & development plan
Targeted acquisition & development plan For personal use only Dec 2015 – Mt Mulgine and Big Hill acquisition 1 $1.2m +$15m 50,000m 83.7Mt low acquisition historical spend historical @ 0.17% WO3 cost on projects drilling and 197ppm Mo (incl 40km DDH) Advanced project at Mt Mulgine Near term productio
Slide 14: Mt Mulgine Tungsten Project
Mt Mulgine Tungsten Project For personal use only Globally significant JORC 2012 Mineral Resource (updated in June 2016) Substantial past exploration and feasibility Study work. Tungsten and molybdenum rights held by Tungsten Mining Minjar Gold Pty Ltd, subsidiary of Shandong Tianye Group of
Slide 15: Located in a mining province
Located in a mining province For personal use only • Mt Mulgine project located in mining province • Less than 20 kilometres from Karara iron ore mine • Existing haul roads link Mt Mulgine tenements and Minjar processing plant and facilities • Mid-West region infrastructure rich, with extensive rail
Slide 16: Mt Mulgine – Summary Plan
Mt Mulgine – Summary Plan For personal use only
Slide 17: Mulgine Hill – Summary Plan
Mulgine Hill – Summary Plan For personal use only
Slide 18: Mulgine Hill Cross Section
Mulgine Hill Cross Section For personal use only Cross section showing planned RC drilling targeting extensions of existing mineralisation
Slide 19: Mt Mulgine Strategic Development Plan
Mt Mulgine Strategic Development Plan For personal use only Staged development approach targeting production of tungsten concentrate and early cash flow within 2 years Focus on shallow mineralisation at Mulgine Hill, previously mined and stockpiled material and exposed ore in Bobby McGee pit at
Slide 20: Mt Mulgine Strategic Development Plan
Mt Mulgine Strategic Development Plan For personal use only Targeting small scale production facility capable of producing 70,000-100,000 MTU’s per year of saleable concentrate and by- products by end 2018. In order to achieve this target the Company will undertake the following measured approach: P
Slide 21: Mt Mulgine Development Timeline
Mt Mulgine Development Timeline For personal use only Task Sep 16 Dec 16 Mar 17 Jun 17 Sep 17 Dec 17 Mar 18 Jun 18 Geology and resource development Metallurgy Engineering Pilot Scale Testwork Project management, permitting and approvals Marketing and Commercial Mining
Slide 22: Summary
Summary For personal use only Second largest resource inventory on ASX Globally significant project scale Significant historical exploration Underutilised infrastructure available Clear low cost pathway to production Strong management team
Slide 23: Thank you
Thank you For personal use only Primary contact: Media & Broker Enquiries: Craig Ferrier Andrew Rowell Chief Executive Officer Cannings Purple t: +618 9486 8492 t: +61 400 466 226 e: craig.ferrier@tungstenmining.com e: arowell@canningspurple.com.au
Slide 24: Annexure: JORC 2012 Mineral Resources
Annexure 1 For personal use only JORC 2012 Mineral Resources
Slide 25: Mineral Resources – 0.05% COG
Annexure 2 For personal use only Mineral Resources – 0.05% COG