Aeris Resources Limited · ASX:AIS
Aeris Resources — Straits Resources — Mines and Money Hong Kong Conference (March 2015)
38 slides from Aeris Resources's conference presentation, Mar 24, 2015
Slide 1: Straits Resources Company Update
For personal use only Straits Resources Company Update ASX: SRQ Established Copper Producer • Solid Project Pipeline • Exploration Upside 24 March 2015 1
Slide 2: Disclaimer
For personal use only Disclaimer Forward-Looking Information Certain statements contained in this press release constitute forward-looking statements or forward-looking information. The words “intend”, “may”, “would”, “could”, “will”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “target” a
Slide 3: Company Snapshot
Company Snapshot For personal use only Established Producer: Among Australia’s top 5 independent copper producers by volume (>27,000tpa) Large portfolio of growth projects Excellent exploration potential Board and management team: successful track record in corporate and operational turnaround Clear
Slide 4: Company Management
Company Management For personal use only Board of Directors Andre Labuschagne Executive Chairman Alastair Morrison Non-executive Director Michele Muscillo Non-executive Director Executive Management Rob Brainsbury Chief Financial Officer Ian Sheppard Chief Operating Officer John Miller General Manag
Slide 5: Vision
Vision For personal use only To become a mid-sized, multi-mine company, delivering shareholder value through an unwavering focus on operational excellence 5
Slide 6: Company Turnaround
For personal use only Company Turnaround New Management Team commenced Reduced overheads, secured the future December 2012 Corporate Office downsized and Asset rationalisation relocated Mt Muro closed Investing in people and equipment Non-Core assets divested Increased Tritton Life of Mine to at lea
Slide 7: Established Copper Producer
For personal use only Established Copper Producer 7
Slide 8: Tritton Operations: Cornerstone Asset
Tritton Operations: For personal use only Cornerstone Asset Proven copper producer Multiple mines Established infrastructure Long mine life Portfolio of growth projects Large copper inventory Exploration upside Proven copper field Large portfolio of exploration targets/prospects 8
Slide 9: Tritton Operations
For personal use only Tritton Operations Reliable and growing copper production: >27,000 tpa 1.6mtpa Processing Plant Multiple ore sources: Currently mining the Tritton and North East/Larsens deposits Setting new mining and processing records Minimum Mine Life to 2023 JORC Ore Reserves contained cop
Slide 10: Tritton Operations: Turnaround strategy
Tritton Operations: For personal use only Turnaround strategy Refocus on planning, people and maintenance: Tritton Copper Production 9,000 Production: UP 7,500 6,000 New quarterly production record of 7,904 Tonnes 4,500 tonnes in Dec Q14 3,000 Costs: DOWN 1,500 0 Includes significant investment in m
Slide 11: Tritton Operations: Two Underground Mines
Tritton Operations: For personal use only Two Underground Mines Tritton underground mine: 1.3mtpa @ 1.9% Cu North East / Larsens: 300ktpa @ 1.8% Cu 11
Slide 12: Tritton Operations: 1.6mtpa Processing Plant
Tritton Operations: For personal use only 1.6 mtpa Processing Plant Running above name plate capacity 94% recovery 24% copper concentrate grade 12
Slide 13: Tritton Operations: Maintenance & Fleet Strategy
Tritton Operations: Maintenance For personal use only & Fleet Strategy 2013 /14 - significant investment in operating maintenance and fleet rebuilds 2014 /15 - focus on fleet availability to underpin production Process plant debottlenecking continues – plans to increase throughput to 1.8mtpa 13
Slide 14: Tritton Operations: Established Infrastructure
Tritton Operations: For personal use only Established Infrastructure Mobile fleet workshop Paste fill plant for Tritton U/G Road Haulage 14
Slide 15: Strong Copper Inventory
For personal use only Strong Copper Inventory Ore Reserves increased by 45kt of contained copper (net of depletion) in FY2014 TRITTON OPERATIONS - Mineral Resource Statement as at 30 June 2014 Measured Indicated Inferred Total Tonnes (kt) 2,591 16,150 7,030 25,771 Cu (%) 2.3 1.6 1.4 1.6 TRITTON OPER
Slide 16: Large Pipeline of Growth Projects to Extend Mine Life
For personal use only Large Pipeline of Growth Projects to Extend Mine Life 16
Slide 17: Tritton Deeps
For personal use only Tritton Deeps Depth extensions to Tritton orebody – single largest opportunity for significant ore reserve conversion: Ore Reserve 5Mt @ 1.8% Cu* Mineral Resource 11Mt @ 1.8% Cu* Current Ore Reserve extends to 4,200mRL Mineral Resource extends to 4,000mRL Mineralisation remains
Slide 18: North East / Larsens
For personal use only North East / Larsens Targeting additional resources to extend Mine Life Ore Reserve 0.9Mt @ 1.6% Cu* Mineral Resource 1.3Mt @ 1.8% Cu* Deposits located in north of Girilambone Complex Near-mine resource definition drilling planned seeking to extend the deposits and LOM Typical
Slide 19: Murrawombie Underground
Murrawombie For personal use only Underground PFS completed and approvals secured Ore Reserve: U/G 3.3Mt @ 1.3% Cu* Mineral Resource: 8Mt @ 1.4% Cu** Largest copper inventory outside Tritton Deposit: 110,000t contained Cu PFS completed for U/G mine – extraction of sulphide ore Regulatory approvals s
Slide 20: Avoca Tank
For personal use only Avoca Tank PFS completed Ore Reserve: 680kt @ 2.5% Cu* Mineral Resource: 903kt @ 2.6% Cu* Far north of Girilambone Complex located 2km north of current mining at North East/ Larsens Provide higher grade supplementary feed for Tritton Operations Mining lease application being pr
Slide 21: Murrawombie Open Pit Extension
For personal use only Murrawombie Open Pit Extension PFS completed Ore Reserve: 0.7Mt @ 1.2% Cu* Modest expansion (cut-back) of Murrawombie Open Pit Cut-back to access 700kt of sulphide ore Mining of pit expansion to assist with final closure of heap leach pads and save on mine rehabilitation costs
Slide 22: Excellent Exploration Potential
For personal use only Excellent Exploration Potential 22
Slide 23: Significant Ground Position in Proven Copper Field
Significant Ground For personal use only Position in Proven Copper Field “Besshi” style VMS orebodies generally occur in clusters Tritton region hosts “Besshi” style VMS deposits Mining to date has been from Girilambone and Tritton complexes – multiple deposits discovered in each Huge exploration po
Slide 24: Proven Exploration Success
Proven Exploration For personal use only Success Two complexes mined to date characterised by one large deposit (10-20Mt) with multiple smaller (1-5Mt) deposits 24
Slide 25: Target Rich Tenement Package
Target Rich Tenement Package For personal use only 25
Slide 26: High Potential Targets: Kurrajong
High Potential Targets: For personal use only Kurrajong EM signature twice the size of Tritton All recent holes intersected mineralisation Three holes indicated grades above 2% Cu $1m drilling program required to commit to resource drill-out Target 10Mt at >2% 26
Slide 27: High Potential Targets: Carters
High Potential Targets: For personal use only Carters Exciting results from limited drilling Hard work completed – ready to drill Many untested targets in close proximity to Carters 27
Slide 28: High Potential Targets: Avoca Tank Repeats
High Potential Targets: For personal use only Avoca Tank Repeats Avoca Tank Ore Reserve (April 2014): 680kt @ 2.5% Cu, 0.8g/t Au VMS deposits typically occur in clusters Remainder of the magnetic high complex is under- explored Recent aircore drilling delivered exciting results adjacent to known ore
Slide 29: High Potential Targets: Greater Hermidale
High Potential Targets: For personal use only Greater Hermidale Along strike from Tritton Significant strike extent Exciting recent results Anomalous Cu adjacent to EM anomaly Drill program planned to test targets 29
Slide 30: Investment Opportunity: Poised for Growth
Investment Opportunity: For personal use only Poised for Growth Established and growing copper producer (>27,000tpa) Tritton Operations performing at record levels Board and management team with a proven track record and clear vision and strategy Exciting portfolio of advanced growth projects Extens
Slide 31: Thank You
Thank You For personal use only Straits Resources Limited Level 2, HQ South Tower, 520 Wickham Street, Fortitude Valley 4006 Brisbane QLD, Australia EMAIL info@straits.com.au TEL +61 7 3034 6200 FAX +61 7 3034 6290 www.straits.com.au 31
Slide 32: Appendices
For personal use only Appendices 32
Slide 33: Appendix: Corporate Overview
Appendix 1 For personal use only Corporate Overview Capital Structure Major Shareholders ASX Code SRQ Standard Chartered Private Equity 214,663,735 17.63% Ltd Ordinary Shares 1.217bn Glencore Finance (Bermuda) Ltd 131,513,135 10.80% Share Price (at 20 Mar 2015) 0.4¢ Ruffer LLP 64,724,395 5.32% Marke
Slide 34: 2014 Mineral Resource - Tritton Mines Area
Appendix 2 2014 Mineral Resource - Tritton Mines Area As at 30 June 2014 For personal use only 34
Slide 35: 2014 Mineral Resource - Other Projects
Appendix 2 (cont’d) 2014 Mineral Resource - Other Projects As at 30 June 2014 For personal use only 35
Slide 36: 2014 Mineral Resource - Tritton Mines Area (cont'd)
Appendix 2 (cont’d) 2014 Mineral Resource - Tritton Mines Area As at 30 June 2014 For personal use only 36
Slide 37: Appendix: Ore Reserve
Appendix 2 (cont’d) For personal use only Ore Reserve The June 2014 Ore Reserve estimate is a All Ore Reserves estimates are for Tritton The mining method assumed in the Ore Reserve significant revision compared to the June 2013 Operations area deposits. estimate varies with the deposit. At Tritton
Slide 38: 2014 Ore Reserve - Tritton Mines Area
Appendix 2 (cont’d) 2014 Ore Reserve - Tritton Mines Area As at 30 June 2014 For personal use only 38
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