Thor Energy Plc · LSE:THR
Thor Energy — Thor Mining — Shareholder Meeting (November 2014)
24 slides from Thor Energy's shareholder meeting presentation, Nov 7, 2014
Slide 1: Annual General Meeting – Results & Presentation
ASX Code: “THR” Date: 7 November 2014 Company Announcements Office, For personal use only ASX Securities Limited, THOR MINING PLC 20, Bridge Street, Registered Numbers: Sydney, N.S.W. 2000 United Kingdom 05 276 414 Australia 121 117 673 Registered Office: 58 Galway Avenue, ANNUAL GENERAL MEETING – R
Slide 2: AGM voting results, resolutions 6-12
ASX Code: “THR” Date: 7 November 2014 Resolution 6. Ratify the Issue and Allotment of 46,388,888 Shares For personal use only At holders For Against Withheld discretion 162,294,872 2,738,384 2,520,000 580,609 The resolution was passed as an ordinary resolution. Resolution 7. Issue and Allot Shares B
Slide 3: AGM voting results, resolutions 13-16
ASX Code: “THR” Date: 7 November 2014 Resolution 13. Issue and allot CDIs to D Thomas For personal use only At holders For Against Withheld discretion 185,765,305 2,529,435 2,520,000 1,076,318 The resolution was passed as an ordinary resolution. Resolution 14. Authority to Disapply Pre-emption Right
Slide 4: Tungsten Development Australia & USA
For personal use only Tungsten Development Australia & USA AGM Presentation November 2014 Mick Billing Executive Chairman 1
Slide 5: Disclaimer & Legal Notice
Disclaimer & Legal Notice For personal use only This document and all other information (whether in writing or otherwise) which may be made available is: 1. Supplied solely for the intended recipient and may not be copied, reproduced, further distributed to any other person or published, in whole or
Slide 6: Overview: Building a tungsten group
Overview Building a tungsten group For personal use only • AIM|ASX (THR) listed mining group focussed on tungsten • Building a portfolio of tungsten projects with geographic diversity at different stages of development • Tungsten is a vital mineral with multiple applications & few substitutes – Stra
Slide 7: Corporate Snapshot
Corporate Snapshot Market overview For personal use only Summary Board & Senior Management ASX:THR AIM:THR Mick Billing Executive Chairman Share Price 0.3c 0.13p Mick Ashton Non Exec. Director 12 Month Range 0.3 – 0.9c 0.1 - 0.445p Greg Durack Non Exec. Director Current Shares 2,866 m Trevor Ireland
Slide 8: Tungsten: Critical metal
Tungsten Critical metal For personal use only • Tungsten (chemical symbol W) is used in manufacture of hard metals, steels, alloys and mill products • Outstanding & unique physical properties (melting point/hardness/tensile strength) and lack of substitutes makes tungsten critical in industrial, oil
Slide 9: Tungsten Market: Demand outstrips supply
Tungsten Market Demand outstrips supply For personal use only Supply Global Tungsten Production 80,000Mt • Tungsten production is dominated by China (80%+ of global production) 70,000Mt – Chinese restrictions on production and export of concentrates 60,000Mt – Declining grades from existing Chinese
Slide 10: The Projects
The Projects High grade, near term projects in stable & experienced jurisdictions For personal use only The Molyhil Project The Pilot Mountain The Spring Hill Project Northern Territory, Project Northern Territory, Australia Nevada, USA Australia • Tungsten & Moly Project, 100% Thor • Tungsten & Cop
Slide 11: Molyhil Project
Molyhil Project High grade project with near term cash flow potential For personal use only Location • Northern Territory, Australia – 320km east of Alice Springs Geology • Two adjacent magnetite skarn bodies with enriched mineralisation of scheelite, molybdenite, & magnetite History • Southern ore
Slide 12: Molyhil Reserve & Resources
Molyhil Reserve & Resources An expanded reserve with improving economics For personal use only • High grade resource – Molyhil is one of the higher Summary of Molyhil Mineral Resource Estimate grade projects in the Western World WO3 Mo Fe • Upgraded Reserve delivers longer mine life and RESOURCE Mt
Slide 13: Product Marketing: First class partner
Product Marketing First class partner For personal use only • Letter of Intent from US Global Tungsten & Powders (GTP) for 70 - 75% of tungsten concentrate production – Pricing benchmarked against London Metal Bulletin European spot price – GTP is one of the top 3 non-Chinese tungsten processors – I
Slide 14: Molyhil Timeline
Molyhil Timeline Near term production For personal use only Q2’14 Q3’14 Q4’14 Q1’15 Q2’15 Q3’15 Q4’15 Q1’16 Q2’16 Public Environment Report **Complete Agreements with traditional owners **Complete Offtake Agreements ** Partially Complete (LOI in place) DFS Optimisation MMP Approval Finance Agreement
Slide 15: Pilot Mountain Overview
Pilot Mountain Overview Advanced exploration - a resource with significant upside For personal use only Location • Located in Nevada, USA • 250km south-east of city of Reno Geology • Tungsten – copper – silver skarn style mineralisation at three primary locations including: Desert Scheelite, Garnet
Slide 16: Pilot Mountain Projects
Pilot Mountain Projects High grade project, potential to be more than a moderate sized resource For personal use only Desert Scheelite Garnet deposit Gunmetal deposit deposit • 6.8MT Resource @ 0.31% WO3 • Exploration Target* of 1.5 – 2.0Mt @ • Exploration Target* of 1.5 – 2.0Mt @ • Increasing grade
Slide 17: Pilot Mountain Resources
Pilot Mountain Resources Potentially economic resource with serious growth potential For personal use only Resource WO3 Ag Cu Desert Scheelite Contained Grade Contained Contained Tonnes Grade % metal (t) Grade % metal (t) metal (t) g/t Indicated 6,090,000 0.31 18,900 24.2 150 0.16 10,000 Inferred 70
Slide 18: Pilot Mountain Tenement Area
Pilot Mountain Tenement Area Significant potential upside via For personal use only 1. Potential very high grade eastern extension of Desert Scheelite deposit 2. Exploration targets @ Garnet & Gun Metal 3. Undrilled target between Garnet & Gun Metal 4. Previously mined Good Hope 5. Other untested ar
Slide 19: Desert Scheelite
Desert Scheelite For personal use only • 6.8MT Resource @ 0.31% WO3 • Increasing grade of both tungsten and copper to the east under cover • Eastern extension to follow up high grade tungsten & copper intersections • Silver & copper credits 16
Slide 20: Garnet
Garnet For personal use only • Exploration Target* of 1.5 – 2.0Mt @ 0.35 – 0.40% WO3 • Flat lying mineralisation from surface • RC drill program scheduled to test and validate • Substantial areas of poorly tested zones 17
Slide 21: Gunmetal
Gunmetal For personal use only • Exploration Target* of 1.5 – 2.0Mt @ 0.37 – 0.42% WO3 • Flat lying – similar (connected to??) Garnet • RC drill program scheduled to test and validate • Substantial areas of poorly tested zones • Potential for large open pit north of historic resource 18
Slide 22: Garnet & Gunmetal
Garnet & Gunmetal • Garnet & Gunmetal each comprise a For personal use only series of 4 roughly parallel flat lying lenses. • The two deposits are separated by approximately 500 metres • A drill program scheduled to test the potential connection between these deposits in the late 1970’s did not take
Slide 23: Investment Case
Investment Case A compelling portfolio of tungsten assets For personal use only • Focus on a strategic and supply constrained commodity – Tungsten • Portfolio of attractive assets in developed and established mining jurisdictions • Near term production and cash flow through Molyhil Project, which re
Slide 24: Contact
Contact For personal use only Mick Billing Chairman & Chief Executive Officer Tel. | +61 8 7324 1935 Fax. | +61 8 8351 5169 mbilling@thormining.com 58 Galway Avenue Marleston, SA, 5033 Australia www.thormining.com AIM | ASX : THR 21