Igo Limited · ASX:IGO
Igo — Independence Group NL — Shareholder Meeting (November 2009)
44 slides from Igo's shareholder meeting presentation, Nov 24, 2009
Slide 1: Growing a Great Company – Annual General Meeting
INDEPENDENCE GROUP NL For personal use only “Growing Growing a Great Company Company” Annual General Meeting 25 November 2009 Chris Bonwick Managing Director
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS For personal use only Certain oral and written statements contained or incorporated by reference in this presentation, including information as to the future financial or operating performance of the Company and its projects, constitute forward-looking statements. All stat
Slide 3: Independence Overview - Corporate
INDEPENDENCE OVERVIEW - CORPORATE For personal use only Capital Structure: ASX Code: IGO 113.7M shares & 1.2M staff options Market Cap. (23/11/09): $508M Daily turnover (6 month average): 504,748 Substantial shareholders: JP Morgan - 9.9M shares (8.8%) Orion - 7.1M shares (6.2%) NAB - 6.8M shares (6
Slide 4: Independence Overview - Assets
INDEPENDENCE OVERVIEW - ASSETS For personal use only Long Nickel Mine 2008/9 Cash Costs (C1+C2 payable): A$3.85/lb Ni 2008/9 Revenue: A$8.04/lb Ni June 2009 Resources: 93,900t Ni @ 5.6% Ni June 2009 Reserves: 51,800t Ni @ 3.9% Ni Extending mine life – New Moran discovery Jun 2009 resource: 456,000 t
Slide 5: IGO History and Share Price
IGO HISTORY AND SHARE PRICE For personal use only Monthly Average Share Price to 23.11.09
Slide 6: Long Nickel Mine - IGO's Current Cash Producing Asset
INDEPENDENCE GROUP NL For personal use only LONG NICKEL MINE IGO’s CURRENT CASH PRODUCING ASSET Purchase price = A$15M $ IGO Profit to date = $ $247M 1979-1999 1979- WMC Production: 203,184t Ni Oct 02 - Sep 09 IGO Production: 57 482t Ni 57,482t
Slide 7: Long Nickel Mine (IGO 100%)
LONG NICKEL MINE (IGO 100%) For personal use only HISTORY: ♦ Starting Reserve = 26,800 26 800 Ni t ♦ Production to Jun 09 = 55,495 Ni t ♦ June 2009 Resource = 93,900 Ni t ♦ June J 2009 R Reserves = 51 51,800 800 Ni t GOALS: GOALS ♦ Sustainable 9,000t Ni pa in bottom 3rd of world-wide nickel producti
Slide 8: Production Forecast & Hedging
PRODUCTION FORECAST & HEDGING For personal use only FY 2008/9 2008/9 Guidance Actual Production 8,400 - 8,800 Ni t 8,779 Ni t Grade 3.6% Ni 4.0% Ni Cash Costs (payable) A$4 50 - 4.65/lb A$4.50 4 65/lb Ni A$3 85/lb Ni A$3.85/lb FY 2009/10 Guidance Production 8,000 - 8,400 Ni t Grade 4.0% Ni
Slide 9: Quarterly Cash Costs & Revenue
QUARTERLY CASH COSTS & REVENUE For personal use only Relatively consistent cash costs
Slide 10: Mine Geophysics - TEM Equipment
MINE GEOPHYSICS - TEM EQUIPMENT For personal use only High powered TEM 3 component transmitter underground TEM system 10 x more powerful than current systems. Doubles search radius Down hole TEM probe detection up to 200m. Locates blind Cleaner data. 200m search radius. massive NiS M Mor
Slide 11: Long Mine Nickel Deposits & Targets
LONG MINE NICKEL DEPOSITS & TARGETS LONGITUDINAL PROJECTION For personal use only
Slide 12: McLeay Nickel Deposit
McLEAY NICKEL DEPOSIT For personal use only
Slide 13: Moran Nickel Deposit
For personal use only MORAN NICKEL DEPOSIT
Slide 14: Long Mine Resources
LONG MINE RESOURCES JUNE 2009 – IGO’s LARGEST EVER RESOURCE For personal use only Continuing to Grow Resources & Reserves
Slide 15: Long Mine Reserves
LONG MINE RESERVES MINE LIFE EXTENDED TO 2015 @ 9,000 Ni t/pa For personal use only Continuing to Grow Resources & Reserves
Slide 16: Long Mine Complex Production / Ore Reserve Comparison
LONG MINE COMPLEX PRODUCTION / ORE RESERVE COMPARISON For personal use only 2002-9 PRODUCTION SUMMARY Initial Ore Reserve Estimate: 33,894 Ni t Mined from Ore Reserve: 46,176 Ni t Mi d outside Mined t id Ore O Reserve: R 9 319 Ni t 9,319 TOTAL: 55,495 Ni t
Slide 17: Long Fly Through
For personal use only LONG FLY THROUGH
Slide 18: Tropicana JV - New Gold Province
TROPICANA JV - NEW GOLD PROVINCE IGO’S SECOND POTENTIAL CASH GENERATOR For personal use only AngloGold Ashanti – 70% (Manager) Independence Group – 30% Tropicana JV “New Gold Province under sand” 1000kms
Slide 19: Tropicana JV Tenements
TROPICANA JV TENEMENTS For personal use only
Slide 20: Tropicana JV Significant Discoveries to Date
TROPICANA JV SIGNIFICANT DISCOVERIES TO DATE For personal use only
Slide 21: Tropicana JV Jun Global Resource
TROPICANA JV JUN 09 GLOBAL RESOURCE For personal use only
Slide 22: Tropicana JV - Jun Pre-Feasibility Open Cut Design
TROPICANA JV – JUN 09 PRE- FEASIBILITY OPEN CUT DESIGN For personal use only
Slide 23: Tropicana JV - New Intercepts Outside Jun Open Cut Design
TROPICANA JV - NEW INTERCEPTS OUTSIDE JUN 09 OPEN CUT DESIGN For personal use only
Slide 24: Tropicana JV Underground Potential
TROPICANA JV UNDERGROUND POTENTIAL For personal use only
Slide 25: Tropicana JV Havana Deeps Cross-Section
TROPICANA JV HAVANA DEEPS CROSS-SECTION For personal use only
Slide 26: Tropicana JV Pre-Feasibility Outcome
TROPICANA JV PRE-FEASIBILITY OUTCOME For personal use only Open-cut Resource: 75.3 Mt @ 2.07g/t Au (5.01 M oz Au) at June 09 Mining Inventory: 56 Mt @ 2.0g/t Au (3.6 M oz Au, 6.2:1 SR) (US$900/oz Au, AUD: USD 0.85, US$103/barrel oil& 15% discount rate assumptions) Mill: 6 Mt p/a (plant & infrastruct
Slide 27: Tropicana JV Proposed Plant Layout
TROPICANA JV PROPOSED PLANT LAYOUT For personal use only
Slide 28: Tropicana JV Fly Through
TROPICANA JV FLY THROUGH For personal use only
Slide 29: Regional Exploration Strategy
REGIONAL EXPLORATION STRATEGY For personal use only Discovering new, high profit mines by - Technical Innovation Geophysical tools to see “under cover” New targeting techniques Exclusive access to new data bases Unlocking value in established and emerging belts First mover advantage in “
Slide 30: IGO Base Metal Exploration Projects
IGO BASE METAL EXPLORATION PROJECTS For personal use only
Slide 31: Duketon JV Location
For personal use only DUKETON JV LOCATION
Slide 32: Duketon JV – Bulge Prospect Nickel Drill Intercepts
DUKETON JV – BULGE PROSPECT NICKEL DRILL INTERCEPTS For personal use only
Slide 33: Duketon JV – Bulge Nickel Prospect
DUKETON JV – BULGE NICKEL PROSPECT (IGO earning 70%) For personal use only JV Partner: South Boulder
Slide 34: IGO Gold Exploration Projects
IGO GOLD EXPLORATION PROJECTS For personal use only
Slide 35: Holleton Gold Project
HOLLETON GOLD PROJECT (IGO 100%) For personal use only
Slide 36: Karlawinda Project
KARLAWINDA PROJECT (IGO – 100%) For personal use only
Slide 37: Karlawinda - Francopan Prospect Cross-Section
KARLAWINDA - FRANCOPAN PROSPECT CROSS-SECTION For personal use only
Slide 38: Karlawinda – West Bibra Prospect
KARLAWINDA – WEST BIBRA PROSPECT For personal use only
Slide 39: Project Generation - De Beers Database
PROJECT GENERATION DE BEERS DATABASE (IGO 100%) For personal use only 103,000 geochemical samples analysed. 189 000 geochemical 189,000 h i l samples l unanalysed. l d 2,278 samples reporting visible i ibl gold. ld 2,025 geophysical surveys. Estimated cost to replicate data base >$A500M.
Slide 40: Project Generation - De Beers Database
PROJECT GENERATION DE BEERS DATABASE (IGO 100%) For personal use only IGO 2009 gold analysis of De Beers samples collected before the discovery of the Plutonic Gold Mine (WA)
Slide 41: Independence Corporate Goals
INDEPENDENCE CORPORATE GOALS For personal use only To improve shareholder returns by becoming a highly profitable, multi commodity Australian mining company F Focus on: Low cash costs Mine longevity Innovative exploration Strong balance sheet
Slide 42: Competent Person Statement
COMPETENT PERSON STATEMENT For personal use only Note: The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves (apart from the Tropicana mineral resources) is based on information compiled by Mr Christopher M Bonwick who is a full-time employee of
Slide 43: Long Nickel Mine 2009 Resources and Reserves
LONG NICKEL MINE 2009 RESOURCES AND RESERVES For personal use only RESOURCES RESERVES Undiluted at 1% Ni Cut-off 1, 2 Mining at Economic Ni Cut-off 1, 2 Tonnes Ni % Ni Tonnes Tonnes Ni % Ni Tonnes LONG Measured 64,000 6.4 4,100 LONG Proven 70,000 3.5 2,500 Indicated 298 000 298,000 52 5.2 15 500 15,
Slide 44: Tropicana JV Resources
TROPICANA JV RESOURCES For personal use only TROPICANA JV June 2009 OPEN PIT RESOURCES Million Tonnes g/t Au1 Million Ounces2 Measured 24.2 2.3 1.79 I di t d Indicated 39 8 39.8 20 2.0 2 58 2.58 Inferred 11.3 1.8 0.64 TOTAL 75.3 2.1 5.01 Notes: 1 Cut-offs: 0.6g/t Au oxide ore, 0.7g/t Au fresh ore. 2
Independence Group NL — Shareholder Meeting (November 2009) on 6ix