Thor Energy Plc · LSE:THR
Thor Energy — Investor Presentation (June 2010)
17 slides from Thor Energy's investor presentation, Jun 2, 2010
Slide 1: Gold & Base Metals Exploration, Tungsten & Molybdenum Development
For personal use only GOLD & BASE METALS EXPLORATION TUNGSTEN & MOLYBDENUM DEVELOPMENT JUNE 2010
Slide 2: Disclaimer and Legal Notice
DISCLAIMER AND LEGAL NOTICE “All statements in this document (other than statements of historical fact) are forward looking statements that involve risks and uncertainties” For personal use only This document and all other information (whether in writing or otherwise) which may be made available is:
Slide 3: Corporate Overview
CORPORATE OVERVIEW For personal use only Dual listed ASX and AIM: (THR) Share Capital Shares on Issue 243,223,763 Market Cap A$5.0m Cash 31 March 2010 A$0.4m Substantial Shareholders Western Desert Resources 14.38% Vidacos Nominees Ltd 5.66% Top 20 Shareholders 43.6% Shareholders 3,093
Slide 4: Milestones
THOR MILESTONES For personal use only • 2005 • Established to acquire & develop the Molyhil tungsten & molybdenum project in Australia’s Northern Territory • Admitted to AIM • 2006 • Acquired uranium & base metals projects in the Northern Territory • Admitted to ASX • Molyhil definitive feasibility
Slide 5: Board & Management
For personal use only BOARD & MANAGEMENT Mick Billing, B Bus ASA, age 56, Executive Chairman Mick has over 30 years mining experience and a background in finance, specialising in recent years in assisting in the establishment and management of junior companies to the position where they can be susta
Slide 6: Key Projects
THOR MINING KEY PROJECTS For personal use only GOLD - WA Dundas Exciting greenfields Gold exploration Other projects under review SPECIALITY METALS - NT Molyhil Tungsten-Molybdenum Prices recovering Ready to develop BASE METALS - NT Nickel / Copper / Tungsten / Uranium
Slide 7: Gold Exploration: Dundas Gold Project
THOR MINING GOLD EXPLORATION For personal use only DUNDAS GOLD PROJECT • Wiluna-Kalgoorlie-Norseman greenstone belt within Albany- Fraser province • Minimal exploration to date • Province host to >5million oz Tropicana gold deposit • 1st Soil sampling program completed • RAB drilling scheduled 2nd h
Slide 8: Dundas Gold Project: Emerging Province
For personal use only DUNDAS GOLD PROJECT EMERGING PROVINCE • Province host to Anglo Gold Ashanti / Independence group’s >5million oz Tropicana deposit also – Beachcomber – Corona – Socrates – Corvette Geology and Gold Deposits of South Eastern Yilgarn Craton and adjoining Albany-Fraser Province.
Slide 9: Dundas Gold Project: Action in 2010
For personal use only DUNDAS GOLD PROJECT ACTION IN 2010 • Extend soil sampling –1st program complete • Assays received from 60% of samples collected • Four new areas of gold anomalism identified • Several assays showing elevated copper values • 200 additional assays due June 2010 –ongoing Ready to
Slide 10: Base Metals Exploration: Harts Range Project
THOR MINING BASE METALS EXPLORATION For personal use only HARTS RANGE PROJECT • Attractive targets – base metals, gold, & PGE potential • Close proximity to Mithril’s Basil & Blackadder Cu/Ni prospects • AEM survey conducted Jan/Feb 2010
Slide 11: Harts Range Base Metals Project: AEM Survey
THOR MINING HARTS RANGE BASE METALS PROJECT For personal use only AIRBORNE ELECTROMAGNETIC (AEM) SURVEY • One Priority 1 anomaly • Six Priority 2 anomalies • Prospective for Nickel, Copper, Gold, & PGE’s
Slide 12: Molyhil Tungsten-Molybdenum
THOR MINING MOLYHIL TUNGSTEN-MOLYBDENUM For personal use only •Ore Resource 3.7 Mt •Resource open to south and at depth •Low construction and operating risk •Agreements in place with traditional owners 2007 Resource Estimate Classification (used in Ore reserve calculation) t MoS2 WO3% Measured 530,0
Slide 13: Tungsten & molybdenum prices recovering
THOR MINING “Tungsten & molybdenum prices recovering” For personal use only Molybdenum • 55% of 2008 peak (up from 24% Mar 2009) Tungsten • 92% of 2008 peak •(up from 72% Jul 2009) Project economics improving Molybdenum quoted on London Metals Exchange from Feb 2010 Source: Metal-Pages.com
Slide 14: Molyhil Production
MOLYHIL PRODUCTION 2007 Feasibility Study For personal use only •Processing @ 400,000tpa •CAPEX (pre optimisation) US $49.6M •OPEX (pre optimisation) US$ 57/t Estimated Cash cost per lb Mo US$ 7.80 Estimated Cash cost per mtu WO3 US$ 124.5 •Potential for further returns via bi-product credits (magne
Slide 15: Molyhil 2009/10 Focus
MOLYHIL 2009/10 FOCUS “Capital & operating review - resulting in strategy change” For personal use only •Modular plant design, built offsite with onsite assembly •Reduced lead time •Reduction in pre-production expense •Revised operating focus •Contract mining •Contract processing •Contract logistic
Slide 16: Molyhil Summary
For personal use only MOLYHIL SUMMARY •Tungsten & Molybdenum prices recovering strongly •Approvals in place UPSIDES 9Only 57% of resource used in 2007 Mining Reserve 9Capex & Opex savings 9Magnetite for coal washing emerging as significant bi- product
Slide 17: Summary
THOR MINING SUMMARY For personal use only • MOLYHIL ECONOMICS SUGGEST DEVELOPMENT OPTION EMERGING 9 TUNGSTEN & MOLYBDENUM PRICES IMPROVING 9 CAPEX & OPEX REVIEWS TO DELIVER FURTHER SAVINGS 9 ECONOMICS UNDERPINS SHAREHOLDER VALUE • NEW FOCUS ON GOLD 9 DUNDAS PROJECT - ENCOURAGING CALCRETE SAMPLE ASSA