Image Resources Nl · ASX:IMA
Image Resources Nl — TZMI Congress - 10th Annual 2016
39 slides from Image Resources Nl's conference presentation, Nov 9, 2016
Slide 1: Boonanarring Mineral Sands Project: The next cab off the mineral sands rank?
1 Boonanarring Mineral Sands Project: For personal use only The next cab off the mineral sands rank? TZMI Congress - 10th Annual 7-9 November 2016 Hong Kong Patrick Mutz Managing Director Image Resources NL ASX: IMA
Slide 2: Forward Looking Statement
Forward Looking Statement 2 For personal use only Certain statements made in connection with this communication, including, without limitation, those concerning the economic outlook for the mining industry, expectations regarding prices, exploration or development costs and other operating results,
Slide 3: Company Focus and Target
Company Forward LookingFocus and Target Statement 3 For personal use only Image Resources NL is an Australian based advanced mineral sands exploration company with extensive tenement holdings hosting substantial heavy mineral resources and ore reserves in the North Perth Basin in Western Australia.
Slide 4: Recent Developments
ForwardRecent LookingDevelopments Statement 4 For personal use only Image, as a company is not new; Listed on ASX in 2002 and continues to trade as IMA; Advanced mineral sands explorer. However, the company now has a new image. Completion of Asset Sale and Purchase Agreement in June 2016; Em
Slide 5: Company Highlights: Location
Forward Company Highlights Looking Statement 5 For personal use only LOCATION North Perth Basin in Western Australia; 60-150 km north of Perth. Proven mineral sands address; home of majors Iluka and Tronox. Infrastructure rich with paved roads, power, gas pipeline and water available to/on m
Slide 6: Reserves and Resources
Forward Company Highlights Looking Statement 6 For personal use only LOCATION QUALITY RESOURCES & UPSIDE POTENTIAL High HM grade, high VHM, high zircon;
Slide 7: Reserves and Resources
Reserves and Resources 7 For personal use only High VHM and very high Zircon grade at Boonanarring Ore HM Slimes VHM Zircon Rutile Leucoxene Ilmenite Probable Reserves (Mt) (%) (%) (%) (%) (%) (%) (%) Boonanarring1 14.4 8.3 17.0 80 24 3 6 47 Atlas1 9.7 8.1 15.5 74 11 7 1 55 TOTAL 24.1 8.2 16.4 78 19
Slide 8: Boonanarring Project Comparison
Boonanarring Project Comparison 8 For personal use only High HM and Zircon grades relative to peers HM grade Zircon grade VHM HM Grade (%) Zircon (%) 14.0% 25% VHM Grade Zircon % Image Resources (IMA) Boonanarring project 12.0% 21.5Mt @ 8.3% HM and up to 24.5% Zircon 20% 10.0% 15% 8.0% 6.0% 10% 4.0%
Slide 9: Company Highlights: Quality Resources and Upside Potential
Forward Company Highlights Looking Statement 9 For personal use only LOCATION QUALITY RESOURCES & UPSIDE POTENTIAL High HM grade, high VHM, high zircon; 900 km2 with significant potential for extensions of known resources and discovery of new deposits;
Slide 10: Boonanarring Deposit Extensions
Boonanarring Deposit Extensions 10 For personal use only Seeking to extend mine life beyond 10 years – 60km prospective target zone Boonanarring North Targeting potential 5.2km extension; drilling1.3km north of the deposit includes14m @ 18% HM & 8m @ 22% HM; 50 drill holes planned (subject to acce
Slide 11: Company Highlights
Forward Company Highlights Looking Statement 11 For personal use only LOCATION QUALITY RESOURCES & UPSIDE POTENTIAL High HM grade, high VHM, high zircon; 900 km2 with significant potential for extensions of known resources and discovery of new deposits;
Slide 12: Company Highlights: Project Approvals
Forward Company Highlights Looking Statement 12 For personal use only LOCATION QUALITY RESOURCES & UPSIDE POTENTIAL PROJECT APPROVALS Mining Lease & General Purpose Lease Part IV, Environmental Protection Act (WA) – PER EPBC Act (Commonwealth) Landowner agreements Groundwater Abstrac
Slide 13: Company Highlights: Feasibility Study and Capital Cost
Forward Company Highlights Looking Statement 13 For personal use only LOCATION QUALITY RESOURCES & UPSIDE POTENTIAL Project Capital Cost (A$million) PROJECT APPROVALS FEASIBILITY STUDY $500 Startup capex Original FS announced $400 16 July 2013 with $145m NPV and only $300 $64m capital; $20
Slide 14: Australia's next mineral sands miner?
14 For personal use only Australia’s next mineral sands miner?
Slide 15: Key Growth and Transition Milestone
Key Growth and Transition Milestone 15 For personal use only Effective 8 June 2016 Asset Sale and Purchase Agreement transaction completed with Murray Zircon Pty Ltd and Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd Completion of this transaction allows Image to tick the boxes on a number of c
Slide 16: The NEW Image Resources
The NEW Image Resources 16 For personal use only CAPITAL EQUIPMENT • All plant & equipment and internal infrastructure items necessary to construct a complete heavy mineral recovery operation; from slurry unit in the mine to wet concentration plant for HMC. SHORT TERM FUNDS $4M Short-Term loan
Slide 17: The NEW Image
The NEW Image 17 For personal use only MINERAL SEPARATION SERVICES Access to mineral separation services in China; Purchase option for a Mineral Separation Plant in SA; and Local toll-processing option; CORNERSTONE SHAREHOLDER New cornerstone shareholder with 20 years zircon processing a
Slide 18: The NEW Image
The NEW Image 18 For personal use only EXPERIENCED MANAGEMENT Project development and operations experienced senior management team; MINORITY SHAREHOLDER PROTECTIONS Contracted protections for two years; No interference with 3 incumbent Directors or replacements; No vote on merger relate
Slide 19: Plant and Equipment (select examples)
Plant and Equipment (select examples) 19 For personal use only Wet Concentration Plant Mineral Separation Plant (Option) Slurry Booster Stations & pipelines Power poles, wires & transformers HMC Stackers Mine Slurry Unit Plus much, much more.
Slide 20: Current Principal Focus
Current Principal Focus 20 For personal use only Bankable Feasibility Study Re-assess Mineral Resources in accordance with JORC 2012; Preliminary results >50% Incorporate additional drill results completed since 2013; more tonnes Conduct geotechnical assessment to optimise pit wall slopes; Com
Slide 21: Boonanarring Project Development Schedule
Boonanarring Project Development Schedule 21 For personal use only Targeting first production in early 2018* 2016 2017 2018 May May May Nov Nov Mar Mar Aug Dec Aug Dec Apr Apr Apr Oct Oct Sep Feb Sep Feb Jun Jun Jun Jan Jan Jul Jul Jul Finalisation of Transaction Complete BFS Project Approvals HMC T
Slide 22: Bidaminna Project
Bidaminna Project 22 For personal use only Bidaminna Park (E70/3298), Bidaminna North (E70/2844), Mimegarra (E70/4779) • Potential high volume dredge mining target; mineralisation 15-35 metres thick and located below water table; low slimes (3- 4%); strip ratio <1 and coarse grain size (105 microns)
Slide 23: Tronox Royalty
Tronox Royalty 23 For personal use only Potential near term royalty cash flows from Mullering Royalty deal and extension potential A$50,000 cash payment has been received; Sliding-scale royalty: – at 2.5% average grade the royalty will be 1.25% – at 3.0% average grade the royalty will be 2.50% –
Slide 24: Corporate Snapshot
Corporate Image Snapshot Corporate Snapshot 24 For personal use only Diverse and experienced Board and Management Share Code: IMA Board of Directors Share Price: A$0.06* Bob Besley – Independent Chairman 12 Month Price Range: A$0.05 – 0.11 Patrick Mutz – Managing Director Shares on Issue: 379.5m Cha
Slide 25: Contact
Contact For further information 25 For personal use only Patrick Mutz Managing Director Image Resources NL info@imageres.com.au Office: +61 8 9485 2410 Ground Floor, 23 Ventnor Avenue West Perth, WA 6005 PO Box 469, West Perth, WA 6872 www.imageres.com.au
Slide 26: Additional Information
Contact 26 For personal use only Additional Information
Slide 27: Murray Zircon Pty Ltd
Murray Zircon Pty Ltd 27 For personal use only Owner/operator Mindarie Minerals Sands Project, Murray Basin, South Australia; Successfully redeveloped, commissioned and operated Mindarie 2011-2015 followed by rapid and successful mine rehabilitation; Developed strong relations with landowners,
Slide 28: Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd
Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd 28 For personal use only One of China’s largest zircon processing companies with one of the most diverse range of zirconium products in the world; Global sales of zirconium products ranging from bulk commodities to nuclear grade zirconium sponge
Slide 29: Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd
Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd 29 For personal use only Orient Zirconic headquarters, Shantou, Guangdong, China
Slide 30: Orient Zirconic factory locations in China
Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd 30 For personal use only Orient Zirconic factory locations in China
Slide 31: Directors
APPENDICES Directors 31 For personal use only Mr Robert Besley – Independent Chairman Robert Besley is a Director of KBL Mining Limited (ASX:KBL) and Chairman of Silver City Minerals Ltd (ASX:SCI) and has more than 40 years’ experience in the mining industry. Mr Besley has served in a number of Gove
Slide 32: Directors
APPENDICES Directors 32 For personal use only Mr Chaodian Chen – Non-Executive Director Mr Chen founded Orient Zirconic in 1995 and has built the company into a leading company in the zirconium industry. He served as President and Chairman of the company until mid-2013 when China National Nuclear Co
Slide 33: Directors
APPENDICES Directors 33 For personal use only Mr Fei (Eddy) Wu – Non-Executive Director Mr Wu has solid operational experience in the Australian resource and mining industry. He specialises in combining the strengths of Australian upstream mining with Chinese downstream processing and end use to opt
Slide 34: Key Management
APPENDICES Key Management 34 For personal use only Collis Thorp (FAICD) – Chief Development Officer Collis joined Image in May 2014. He has enjoyed a career of over 45 years in the resources industry, encompassing a broad range of commodities. His 18 years of mineral sands experience includes seven
Slide 35: Ore Reserves
Ore Reserves 35 For personal use only PROBABLE RESERVES (2.5% cut off) ORE HM GRADE CONTAINED HM ZIRCON IN HM Mt HM % kt % Zircon Boonanarring 14.4 8.3% 1,200 24.5% Atlas 9.7 8.1% 800 11.0% TOTAL JORC RESERVES 24.1 8.2% 2,000 19.1%
Slide 36: Mineral Resources (1/3)
Mineral Resources (1/3) 36 For personal use only BOONANARRING/RED GULLY PROJECT (2.5% CUT OFF) Ore HM Slimes HM VHM Ilmenite Leucoxene Rutile Zircon (t) (%) (%) (t) (%) (%) (%) (%) (%) Boonanarring Deposit Measured 3,000,000 7.8 10.1 230,000 70 49 1 3 17 Indicated 14,300,000 9.0 17.2 1,270,000 80 49
Slide 37: Mineral Resources (2/3)
Mineral Resources (2/3) 37 For personal use only ATLAS/COOLJARLOO PROJECT (2.5% CUT OFF) Ore HM Slimes HM VHM Ilmenite Leucoxene Rutile Zircon (t) (%) (%) (t) (%) (%) (%) (%) (%) Atlas Measured 9,700,000 8.5 15.3 820,000 76 52 5 8 11 Atlas Indicated 1,080,000 3.2 19.2 34,000 74 53 8 7 6 TOTAL 10,780
Slide 38: Mineral Resources (3/3)
Mineral Resources (3/3) 38 For personal use only COOLJARLOO NORTH PROJECT (2.5% CUT OFF) Ore HM Slimes HM VHM Ilmenite Leucoxene Rutile Zircon (t) (%) (%) (t) (%) (%) (%) (%) (%) Helene Indicated 11,500,000 4.6 18.6 520,000 84 70 1 3 11 Hyperion Indicated 3,700,000 7.8 19.3 290,000 71 56 0 6 9 TOTAL
Slide 39: Competent Person's Statement
APPENDICES Competent Person’s Statement 39 For personal use only COMPETENT PERSON’S STATEMENT – EXPLORATION RESULTS The information in this presentation that relates to exploration results is based on information compiled by George Sakalidis who is a member of the Australasian Institute of Mining an
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