Turnstone Resources Ltd · ASX:TSR
Turnstone Resources — Davenport Resources — Shareholder Meeting (November 2018)
17 slides from Turnstone Resources's shareholder meeting presentation, Nov 14, 2018
Slide 1: AGM Presentation 14 November 2018
AGM Presentation 14 November 2018 th BUILDING EUROPE’S LARGEST POTASH INVENTORY © Davenport Resources Ltd. November 2018 www.davenportresources.com.au
Slide 2: Disclaimer
DISCLAIMER Davenport Resources Limited (“Davenport”, “DAV”, “The Company”) has issued this Presentation This Presentation is not intended to be, and is not, a prospectus, offering memorandum or private for informational purposes only. It is not intended to, and does not, constitute specific advice t
Slide 3: German South Harz Region
GERMAN SOUTH HARZ REGION • Davenport owns three perpetual mining licences and two exploration licences covering 659 km2 in the South Harz potash basin. • This region represents the cradle of potash mining from where 180 Mt potash has been extracted since the 1890’s. All our licence areas surround fo
Slide 4: Ebeleben JORC Inferred Resource 576 Million Tonnes
EBELEBEN JORC INFERRED RESOURCE 576 MILLION TONNES • April 2018 - JORC Inferred Resource of 576 million tonnes at 12.1% K2O (69.7 Mt of K2O) which comprises 324 Mt sylvinite at 15.6% K2O and 252 Mt carnallitite at 7.5% K2O. • Extends from now closed Volkenroda mine to Davenport’s Gräfentonna Licence
Slide 5: Mühlhausen, Keula and Nohra-Elende 2.83 Billion Tonnes
MÜHLHAUSEN, KEULA AND NOHRA-ELENDE 2.83 BILLION TONNES • JORC resource of 2.83 Billion tonnes containing 289.4 Mt K2O of mixed potash salts (ASX Announcements 16 October 2018 and 13 November 2018) within Muhlhausen-Keula-Nohra Elende area. • Contains 935 Mt Sylvinite and 1893 Mt Carnallitite. The Sy
Slide 6: Ohmgebirge Historic Resource
OHMGEBIRGE HISTORIC RESOURCE • June 2018 – consultants ERCOSPLAN confirm historic resource containing 149.1 Mt at 13.5% K2O containing 20.1 Mt K2O • 14 holes were drilled in this area by former state potash company, the most recent in 1984 • Orebody borders former Bischofferode mine which yielded 60
Slide 7: Total JORC Inferred Resources November 2018
TOTAL JORC INFERRED RESOURCES NOVEMBER 2018 • Total JORC Inferred resource has reached over 3,.4 Billion tonnes containing 358.8 Mt K2O. This represents the biggest potash resource in Europe. HORIZON TONNAGE (MT) K2O % K2O (MT) EBELEBEN Sylvinite 324 15.6 50.4 Carnallitite 253 7.5 18.9 MUHLHAUSEN Sy
Slide 8: Exploration Targets Küllstedt and Gräfentonna
EXPLORATION TARGETS KULLSTEDT AND GRAFENTONNA • Küllstedt – Exploration Target • 4.055 - 5.141 billion metric tonnes grading 7.2% - 25% K2O*. Davenport (DAV ASX Listing Prospectus 24 October 2016) • Gräfentonna – Exploration Target 2.678 - 3.396 billion metric tonnes grading 4.3% - 25% K2O*. (ASX re
Slide 9: Comparative Analysis
COMPARATIVE ANALYSIS Highfield Company Davenport Danakali Sirius Minerals Kore Potash Resources Ticker DAV.ASX DNK.ASX SXX.LN HFR.ASX KP2.AU Mkt Cap $7.2 $144.5 $1,483 $181.0 $40.3 (US$ millions) Cash (US$ millions) $1.8 $10.4 $512 $31.2 $14.2 Debt (US$ millions) - - $337 - - Enterprise Value (US$ m
Slide 10: Comparative Analysis - EV per attributable K2O Resource
COMPARATIVE ANALYSIS - EV per attributable K2O Resource US$/t 4.5 4 3.5 • Davenport expects the size, quality and prime location of its assets in Germany will soon place the Company in a favourable position alongside its peers. 3 2.5 2 1.5 1 0.5 0 Sirius Highfield Danakali Kore Davenport Page 10 © D
Slide 11: Role of Potash as a Plant Nutrient
ROLE OF POTASH AS A PLANT NUTRIENT Potassium: One of the Three Primary Nutrients Nitrogen (N) Phosphate (P) Potash (K) Promotes protein formation Plays a key role in adequate root Improves plant durability and Determines plant’s growth, development and photosynthesis resistance to drought, d
Slide 12: Potash Market
POTASH MARKET • Potash is an essential fertilizer for plant growth. It improves water retention, strengthens roots and stems and assists nutrient transfer. • World population is expected to grow to almost 10 billion by 2050 (+33%). Together with changing dietary trends, a 60% increase in agricultura
Slide 13: Potash Market
POTASH MARKET Source: Integer Research • As global population increases, the available arable land per capita will continue to decrease. • Potash demand and prices are rising and the trend is forecast to continue. Page 13 © Davenport Resources Ltd. November 2018 www.davenportresources.com.au
Slide 14: Fast Track Schedule
FAST TRACK SCHEDULE 2018 2019 • JORC Resource for Ebeleben • JORC Resource for Mühlhausen areas • Identify locations for twin drillholes • Drill twin holes and verify historic data* • Elevate to JORC Indicated status • Conduct PEA/Scoping Study * Pending funding Page 14 © Davenport Resources Ltd. No
Slide 15: Why Davenport Resources? A Compelling Business Case
WHY DAVENPORT RESOURCES ? A COMPELLING BUSINESS CASE • Large high quality resource in historic potash region • Resources support long-life project > 50 years • Low-risk jurisdiction This project ticks • Regional government supportive of job creation projects all the boxes • Proximity to markets (Eur
Slide 16: Investor & Media Enquiries
INVESTOR & MEDIA ENQUIRIES Dr Chris Gilchrist - Managing Director David Tasker - Managing Director Davenport Resources Ltd Chapter One Advisors +353 41 988 3409 +61 433 112 936 cgilchrist@davenportresources.com.au dtasker@chapteroneadvisors.com.au © Davenport Resources Ltd. November 2018 www.davenpo
Slide 17: Building Europe's Largest Potash Inventory
BUILDING EUROPE’S LARGEST POTASH INVENTORY © Davenport Resources Ltd. November 2018 www.davenportresources.com.au
Davenport Resources — Shareholder Meeting (November 2018) on 6ix