Andromeda Metals Limited · ASX:ADN
Andromeda Metals — Adelaide Resources — Shareholder Meeting (November 2010)
35 slides from Andromeda Metals's shareholder meeting presentation, Nov 16, 2010
Slide 1: 2010 Annual General Meeting
For personal use only Adelaide Resources Limited 2010 ANNUAL GENERAL MEETING 16 November 2010 “Creating “Creating wealth wealth through through discovery” discovery”
Slide 2: Disclaimer and Competent Person's Statement
Disclaimer Disclaimer and and Competent Competent Person’s Person’s Statement Statement For personal use only The The information information inin this this presentation presentation is is published published toto inform inform youyou about about Adelaide Adelaide Resources Resources Limited and its
Slide 3: 12 Months Summary
12 Months Summary For personal use only • Gold-copper and uranium focused explorer with strategic land positions in SA, NT and QLD. • Cu-Au discoveries at 100% owned Rover Project - NT. • Cu-Au discovery on 100% owned part of Moonta Project - SA • Strongly anomalous U intersected by Corrobinnie JV -
Slide 4: Gold/Copper/Uranium value in A$ – month summary
Gold/Copper/Uranium value in A$ – 12 month summary For personal use only Prices of ADN’s target commodities are appreciating ~16.5% ~16.5% increase increase ~23% ~23% increase increase ~7.5% ~7.5% increase increase Data Data source: source: InfoMine.com InfoMine.com “Creating “Creating wealth wealth
Slide 5: Project locations
Project locations For personal use only ROVER Gold/Copper GLENROY Gold Northern Territory Queensland EYRE PENINSULA South ANABAMA Australia Gold/Uranium/Copper Copper/Gold CORROBINNIE Uranium MOONTA Victoria YALANDA Copper/Gold Uranium “Creating “Creating wealth wealth through through discovery” dis
Slide 6: Rover Project – location
Rover Project – location For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 6
Slide 7: Rover – a camp of deposits?
Rover – a camp of deposits? For personal use only R4 R1 Tennant Tennant Creek Creek style style ironstone ironstone Exploration Exploration target target “Creating “Creating wealth wealth through through discovery” discovery” Slide 7
Slide 8: Rover – Situation at 2009 AGM
Rover 1 – For personal use only Situation at 2009 AGM First hole drilled at Rover 1 (R1ARD30) had just intersected significant copper in vertically extensive magnetite-haematite ironstone. Westgold Resources results taken from its ASX releases. “Creating “Creating wealth wealth through through disco
Slide 9: Rover – Now
Rover 1 – Now For personal use only ~ 20 drillholes into ADN’s tenement System of substantial dimension confirmed High grades of gold and copper intersected Continuity of mineralisation emerging “Creating “Creating wealth wealth through through discovery” discovery” Slide 9
Slide 10: Rover Prospect – Plan
Rover 1 Prospect – Plan For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 10
Slide 11: Drillhole R1ARD35 – high grade drill core
Drillhole R1ARD35 – high grade drill core For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 11
Slide 12: Rover Prospect – exciting recent results
Rover 4 Prospect – exciting recent results For personal use only 46m @ 1.24% Cu 27m @ 1.2% Cu 9m @ 1.57% Cu, 1.09g/t Au 21m @ 2.33% Cu, 0.94 g/t Au 4m @ 2.30g/t Au 7m @ 1.24% Cu 9m @ 2.12% Cu, 0.33 g/t Au 8m @ 3.77g/t Au 17m @ 1.81% Cu Drilling at 4m @ 3.55g/t Au Rover 4 is continuing. 25m @ 1.05% C
Slide 13: Drillhole R4ARD40 – Eastern Target
Drillhole R4ARD40 – Eastern Target (assays to come). For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 13
Slide 14: Rover Project – summary of ADN's progress
Rover Project – summary of ADN’s progress For personal use only • Significant volume of prospective host ironstone/stringer zone at Rover 1 confirmed on ADN’s tenement. • Intervals of high grade gold and copper mineralisation at Rover 1 confirmed – continuity emerging. • Two targets defined at Rover
Slide 15: Rover Field – The Bigger Picture
For personal use only Rover Field The Bigger Picture “Creating “Creating wealth wealth through through discovery” discovery” Slide 15
Slide 16: ADN controls most of the confirmed Rover Field
ADN controls most of the confirmed Rover Field For personal use only Confirmed ironstone Currently WGR confirmed TNG/WDR extent of ADN Rover Field Tennant Tennant Creek Creek SStu tuaartrt HHig ighhw waayy 40 KM “Creating “Creating wealth wealth through through discovery” discovery” Slide 16
Slide 17: How Rover has developed for Westgold Resources
How Rover has developed for Westgold Resources For personal use only • Commenced drilling at Rover 1 in March 2008 and has drilled continuously at Rover 1 in the field seasons since. • Maiden Resource of 5.3Mt at 6.1g/t AuEq for 1.03Moz AuEq announced for Rover 1 on 23 February 2010. • Positive Scop
Slide 18: WGR envisage a decline development
WGR envisage a decline development For personal use only ADN’s upper copper zone discovery (relatively shallow metal) Source: Westgold Resources ASX release 23 September 2010 Mining the Tertiary Presentation “Creating “Creating wealth wealth through through discovery” discovery” Slide 18
Slide 19: What does all this mean for ADN?
What does all this mean for ADN? For personal use only • ADN’s commanding Rover Field ground position means a company making discovery is possible at R1, R4, R12 or any other of its numerous targets. • At Rover 1, ADN has discovered high grade metal adjacent to WGR’s 1Moz AuEq resource. ADN’s metal
Slide 20: Moonta – 2009 AGM situation
Moonta – 2009 AGM situation For personal use only ADN tenement 819 sq km ADN Tenement Captures historic “Copper Triangle” copper-gold mining district Searching for gold-rich Rex Minerals Tenements copper-gold deposits Region is delivering exciting exploration results 20km “Creating “Creating wealth
Slide 21: Moonta Project – 2010 work areas
Moonta Project – 2010 work areas For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 21
Slide 22: Willamulka Prospect
Willamulka Prospect For personal use only 1500 metre long gold- copper geochemical anomaly. Mineralisation (Cu+Au) intersected on all drill traverses completed. 900 metre unclosed zone confirmed. High Au/Cu ratio apparent – gold-rich! “Creating “Creating wealth wealth through through discovery” disc
Slide 23: Willamulka Prospect Section
Willamulka Prospect Section 1 For personal use only “Creating “Creating wealth wealth through through discovery” discovery” Slide 23
Slide 24: Willamulka Prospect Section
Willamulka Prospect For personal use only Section 2 Last drillhole in 2010 program (WAC53) ends in mineralisation assaying 9m @ 2.25% Cu and 1.09g/t Au. “Creating “Creating wealth wealth through through discovery” discovery” Slide 24
Slide 25: Willamulka at same scale as Hillside Prospect
Willamulka at same scale as Hillside Prospect For personal use only Hillside Inferred Mineral Resource 100Mt @ 0.7% Cu, 0.2g/t Au Inferred Inferred Resource Resource Boundary Boundary Source: Source: Rex Rex Minerals Minerals ASX ASX Release Release 28 28 July July 2010 2010 “Creating “Creating weal
Slide 26: Moonta Project – in summary
Moonta Project – in summary For personal use only • Strategic ground position in the Olympic Copper Gold Province, one of the World’s great Cu-Au belts. • Willamulka prospect has shallow gold and copper hits over 900 metre strike length (open in both directions). • Early days, but the scale of Willa
Slide 27: Corrobinnie Palaeochannel Uranium Joint Venture
Corrobinnie Palaeochannel Uranium Joint Venture For personal use only Quasar has recently earned its initial 60% equity in the JV. Adelaide Resources has option to hold or dilute. “Creating “Creating wealth wealth through through discovery” discovery” Slide 27
Slide 28: Corrobinnie Uranium Joint Venture – drill section
Corrobinnie Uranium Joint Venture – drill section For personal use only Uranium Uranium results results are are assayed assayed drill drill samples samples Excellent results from first ever drilling in Thurlga Palaeochannel. “Creating “Creating wealth wealth through through discovery” discovery” Sli
Slide 29: Yalanda Hill Joint Venture
Yalanda Hill Joint Venture For personal use only section JV with Southern Uranium Limited (SNU). 2010 soil sampling has discovered five significant gold or uranium anomalies – further sampling planned. SNU will soon increase its equity to 60%. “Creating “Creating wealth wealth through through discov
Slide 30: 2010 Summary
2010 Summary For personal use only • Gold and copper prices continue to appreciate – uranium looks to have bottomed. • Aggressive 2010 exploration effort at Rover has delivered excellent results. • Copper and gold intersected at Willamulka on Yorke Peninsula. • Positive results in uranium joint vent
Slide 31: 2011 Programs
2011 Programs For personal use only • Maintain gold, copper and uranium commodity focus. • High level of drilling activity to continue at Rover Project. • Expanded exploration effort at Moonta Project. • Board decision to determine whether to contribute and hold, or to dilute equity in SA uranium JV
Slide 32: Peninsula Resources Initiative
Peninsula Resources Initiative For personal use only ADELAIDE PENINSULA RESOURCES RESOURCES LIMITED LIMITED • Rover Project • Moonta Project • Corrobinnie Uranium JV • Yalanda Hill JV • Eyre Peninsula Basement Project • Anabama Project • Drummond Basin Project “Creating “Creating wealth wealth throu
Slide 33: Peninsula Resources reasoning
Peninsula Resources reasoning For personal use only • Best position the Rover asset to maximise its future options. • Remove the capital allocation conflict disadvantaging the non-Rover assets and ensure adequate funding. • Allow the market to better reflect the value of the the assets to be held by
Slide 34: Unlocking Shareholder value – Iron Road Limited example
Unlocking Shareholder value – Iron Road Limited example For personal use only 40 35 30 25 Value Value to to Shareholders Shareholders 20 (cents (cents per per ADN ADN share) share) 15 10 5 0 1-Dec-08 11-Mar-09 19-Jun-09 27-Sep-09 5-Jan-10 15-Apr-10 24-Jul-10 1-Nov-10 “Creating “Creating wealth wealt
Slide 35: Providing shareholders with discovery opportunities!
For personal use only Providing Providing shareholders shareholders with with discovery discovery opportunities! opportunities! “Creating “Creating wealth wealth through through discovery” discovery” Slide 35
Adelaide Resources — Shareholder Meeting (November 2010) on 6ix