Image Resources Nl · ASX:IMA
Image Resources Nl — Diggers and Dealers (March 2024)
26 slides from Image Resources Nl's conference presentation, March 2024
Slide 1: Australia's newest mineral sands miner
Australia’s newest mineral sands miner Emerging mid-tier prospect 1 1
Slide 2: Disclaimer and Forward-looking Statements
Disclaimer and Forward-looking Statements This presentation/document has been prepared by the management of Image Resources NL ("Image”, “IMA“, or “the Company”). By accessing this presentation you acknowledge that you have read and understood the following statements. This presentation contains cer
Slide 3: Corporate Snapshot
Corporate Snapshot Diverse and Experienced Board and Management ASX Code IMA Board of Directors Share Price A$0.17* Bob Besley – Independent Chairman 12-Month Price Range A$0.12-0.30 Patrick Mutz – Managing Director Shares on Issue 980m Chaodian Chen - Non-Executive Director Market Cap A$170m* Aaron
Slide 4: Boonanarring Project
Image Resources Boonanarring Project A uniquely rich and valuable mineral sands project Social License Integrated into the local community with an environmentally friendly legacy Operational Performance Demonstrating a solid track record of operational performance Growth Exciting exploration upside
Slide 5: Boonanarring Mineral Sands Project
Boonanarring Mineral Sands Project STRONG PROJECT FUNDAMENTALS STRONG PROJECT DELIVERY High Grade Ore Zircon Rich Construction Period Capital Cost 8.9% HM 27.5% of HM 6 months A$52m Coarse Grained High Recoveries D50 ~180µm 98% of zircon On Time On Budget High Quality HMC CY2019 Revenue CY2019 EBITD
Slide 6: Boonanarring Project – Simple Business Model
Boonanarring Project – Simple Business Model Mining Classic dry, open-cut mining utilising standard truck and shovel fleet. Processing 3.7Mtpa conventional wet concentrate plant to produce a high-quality HMC. Trucking HMC trucked to Bunbury port. Shipping Bulk shipments to China under life-of-mine o
Slide 7: Corporate Video
Corporate Video Video can be viewed at www.imageres.com.au 7
Slide 8: Rehabilitation: Before Mining
Rehabilitation: Before Mining 8
Slide 9: Rehabilitation: During Mining
Rehabilitation: During Mining 9
Slide 10: Rehabilitation: Backfilled
Rehabilitation: Backfilled 10
Slide 11: Rehabilitation: Work-In-Progress
Rehabilitation: Work-In-Progress 11
Slide 12: Solar Farm at Boonanarring
Solar Farm at Boonanarring Sunrise Energy Group Pty Ltd constructing 2.3 MWAC solar farm ➢ Construction and operation by Sunrise Energy; ➢ Located on Image owned land adjacent to Boonanarring processing plant ➢ Recently commissioned and now providing up to 25% of electricity requirements for mining/
Slide 13: Community Engagement Program
Community Engagement Program ➢ Image is proud of its active and varied community support and engagement program including significant local employment. ➢ At 30 Sep 2020 53% of the site workforce lives locally to the operation or within regional shires. ➢ Image Grand Opening was held on 19 September
Slide 14: Mineral Sand Markets
Mineral Sand Markets ➢ Zircon – approximately 80% of revenue ➢ Mainly used in ceramics ➢ Market softened as COVID-19 pandemic impacted downstream demand and international exports ➢ TiO2 – approximately 20% of revenue ➢ Mainly used in paint, paper and plastics ➢ Demand for titanium concentrate and il
Slide 15: Operational Performance – Track Record
Operational Performance – Track Record ➢ Project commissioned in Dec-18. ➢ Wet concentration plant operating above design capacity in 2020 following low cost capital improvements in 2020. ➢ September Quarter 2020 tonnes processed only marginally below record setting March Quarter 2020 ➢ Q3 HMC produ
Slide 16: Operational Performance – Cost Control
Operational Performance – Cost Control ➢ Improved operating rates and higher ore grades during H1 2020 are supporting high HMC production rates which in conjunction with continued cost discipline are reflected in falling unit costs. Unit Cash Costs (A$/t HMC Produced), HMC Production (kt HMC), Avera
Slide 17: Operational Performance – Guidance & Forecasts
Operational Performance – Guidance & Forecasts 2019 2020’1H 2020 2021 Item Units Results Results Guidance Forecast HMC Produced DMT 000s 270 167 300-330 300-330 HMC Sold* DMT 000s 238 109 300-330 300-330 C1 Cash Costs per tonne HMC sold A$/DMT 327 330 290-320 260-290 AISC Cash Costs per tonne HMC so
Slide 18: Mine Life Summary
Mine Life Summary Exploration Budget expanded with focus on increasing Ore Reserves and mine life ➢ Mine-life from Dec 2019 Ore Reserve estimated at 6 years ➢ Ore Reserves at Boonanarring expandable • Drill results indicate potential extension of the deposit to south, north and west • Project ‘MORE’
Slide 19: Multiple Extension Areas at Boonanarring
Multiple Extension Areas at Boonanarring ➢ Initially focused on areas within 10km of current location of Northern Boonanarring Wet Concentration Plant (WCP) Extension Area ➢ Northern Extension Area (NEA) Northwest Extension • Previously reported; 2017 Area • High grades, high zircon WCP • Infrastruc
Slide 20: Growth – Our Portfolio
Growth – Our Portfolio Established resources in the North Perth Basin ➢ Dry Mining Mineral Resources of 93Mt; 6.3% HM and 17% Zircon+Rutile in the HM ➢ Dredge Mining Mineral Resources of 236Mt; 2.1% HM and 11.5% Zircon+Rutile in the HM JORC Mineral Resources 12% Dry Mining Dredge Mining Regans Ford
Slide 21: Projects Pyramid – Strand Deposits – Dry Mining
Projects Pyramid – Strand Deposits – Dry Mining Mineral Resources – Accessible by Dry Open-Cut Mining Projects ranked by combined zircon plus rutile (Z+R) contained in the HM Tonnes and grades are for Mineral Resources; Boonanarring, Atlas, Helene & Hyperion per JORC Code (2012); All others historic
Slide 22: Projects Pyramid – Dredge Mining Prospects
Projects Pyramid – Dredge Mining Prospects Mineral Resources – Accessible by Dredge Mining Projects ranked by HM Grade and include combined zircon plus rutile (Z+R) contained in the HM Positive attributes • 90+%VHM; • <5% slimes; Bidaminna Bidaminna Mineral Resources currently • 25-67% Leucoxene; be
Slide 23: Forward Looking Plans
Forward Looking Plans Summary ➢ Continue with profitable operations at Boonanarring; CY2020-2021 expected to be stronger than calendar year 2019 ➢ Increase Ore Reserves under Project ‘MORE’ at Boonanarring ➢ Ensure Atlas development / construction ready as next dry mining operation post Boonanarring
Slide 24: For further information
For further information 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 24
Slide 25: Ore Reserves – Updated Dec 2019
Ore Reserves – Updated Dec 2019 HIGH-QUALITY ORE RESERVES ➢ Very High HM ore grade; exceptionally high zircon grade at Boonanarring ➢ Atlas to be mined in series following Boonanarring Ore Reserves - Strand Deposits; in accordance with the JORC Code (2012) Project/Deposit Category Tonnes % HM % Slim
Slide 26: Mineral Resources
Mineral Resources Mineral Resources - Strand Deposits; in accordance with the JORC Code (2012) @ 2.0% HM Cut-off Mineral Resources - Dredge deposits; in accordance with JORC Code (2012) @ 1.0% HM Cut-off Project/Deposit Category Volume Tonnes % HM % Slimes HM Tonnes VHM Ilmenite Leucoxene Rutile Zir
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