Cullen Resources Limited · ASX:CUL
Cullen Resources — Shareholder Meeting (November 2010)
33 slides from Cullen Resources's shareholder meeting presentation, Nov 25, 2010
Slide 1: Annual General Meeting Nov. 2010
For personal use only ANNUAL GENERAL MEETING NOV. 2010
Slide 2: Disclaimer and Legal Statements
Disclaimer and Legal Statements For personal use only IMPORTANT NOTICE This presentation has been prepared by Cullen Resources Limited ACN 006 045 790 (Cullen) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or pu
Slide 3: An Exploration Business Positioned for Growth
AN EXPLORATION BUSINESS...... POSITIONED FOR GROWTH For personal use only PROJECT GENERATION Applications in NAMIBIA Greenfields West Pilbara LING AND D T TARGETT +/- FARM OUT + IRON Resource exploration l ti iin NW RESOURCES Queensland 29Mt @ 55.0% Fe TING DRILL Canning Basin, West Pilbara W.A. COA
Slide 4: Extensive Pipeline of Projects & Active JVs
EXTENSIVE PIPELINE OF PROJECTS & ACTIVE JV’S For personal use only • PROJECT GENERATION • TARGETTING • JOINT VENTURES
Slide 5: Multicommodity Approach in Australia
MULTICOMMODITY APPROACH IN AUSTRALIA For personal use only Canning Basin ‐ Coal Copper‐Gold West Pilbara ‐ Iron Coal Uranium Uranium Uranium/REE Gold Gold/Nickel Base Metals/Gold Gold/Nickel Nickel Tungsten WELL POSITIONED PORTFOLIO (Note ‐ General area of projects indicated only)
Slide 6: And Branching Out into Namibia
AND...........BRANCHING OUT INTO NAMIBIA For personal use only
Slide 7: Cullen Fundamentals
Cullen Fundamentals ASX:CUL For personal use only • Number of shares : 620M Dr Denis Clarke – Non Exec Chairman • Unlisted options : 6M Dr Chris Ringrose ‐ Managing Director Mr Grahame Hamilton‐ Non Exec • Cash C h ~$4.0M ~$4 0M (30/9/10) Top T 20 : ~46% Mr John Horsburgh – Non Exec Mr Wayne Kernagh
Slide 8: West Pilbara Iron Ore Projects
For personal use only WEST PILBARA IRON ORE PROJECTS
Slide 9: West Pilbara Iron Ore Project (WPIOP Stage 1)
West Pilbara Iron Ore Project (WPIOP Stage 1) – Managed by API JV (Aquila 50%/AMCI 50%) For personal use only FS released July 2010 for development of WPIOP ‐ Stage 1 Channel Iron Deposits (CIDs) APIJV’s Proposed railway to new port Catho Well (Cullen 30%) part of WPIOP (Stage 1)
Slide 10: Catho Well Channel Iron Deposit
Catho Well Channel Iron Deposit For personal use only Next slide ‐ view to SW from this point
Slide 11: Catho Well Channel Iron Deposit
Catho Well Channel Iron Deposit For personal use only
Slide 12: West Pilbara Iron Ore Project (WPIOP Stage 1)
West Pilbara Iron Ore Project (WPIOP Stage 1) For personal use only Mt Stuart JV (Cullen 30% and contributing – APIJV 70%) 14 3% 14.3% Catho Well Channel Iron Deposit 98Mt @ 55.00% Fe WPIOP – Stage 1 85.7% Total Channel Iron Deposits p 687Mt @ 56.6% Fe Catho Well: Fe ‐ 55.0%; Al2O3 ‐ 3.15%; P ‐ 0.03
Slide 13: Position of Catho Well and APIJV Proposed Rail and Port
Position of Catho Well and APIJV p proposed p rail and p port For personal use only NEW INDEPENDENT PORT 282 KM OF NEW RAILWAY
Slide 14: Cullen also has JV with Fortescue
Cullen also has JV with Fortescue For personal use only Catho Well Project – Channel Iron Deposit API JV Wyloo y Project j – Bedded Iron Deposit Fortescue JV Wyloo South Prospect
Slide 15: API JV's WPIOP Intersects Fortescue's Proposed Western Hub Plans
API JV’s WPIOP intersects Fortescue’s Proposed Western Hub Plans For personal use only (WPIOP stage 1) Proposed Rail and Port – 30Mtpa operation Q1 2014 production planned API’s proposed railway and port Fortescue’s Western Hub WPIOP Stage 1 2015 – 20Mtpa including Catho Well 2017 – 100Mtpa CID WYLO
Slide 16: West Pilbara – Development Scenarios
West Pilbara – Development scenarios For personal use only 30 Fortescue proposed d ti (Mt production (Mtpa)) 155 240 30 WPIOP proposed production (Mtpa) Fortescue ‐ API JV – proposed Solomon Hub railway Line and port and possible new rail lines Fortescue ‐ Western Hub 30 100 60 100 API JV ‐ 10 Harde
Slide 17: Wyloo South Prospect - Geology
Wyloo South Prospect ‐ Geology For personal use only Exploration Target at Wyloo South is 30Mt ((Cullen 20%)) Next slide photo Exploration Target at Wyloo South is 30Mt
Slide 18: Wyloo South Prospect
Wyloo South Prospect For personal use only Wyloo South Prospect - looking west from eastern end of drilling . Drill pads in foreground with access tracks trending along the ridge into the distance ~ 2km. Drilling Brockman Formation rocks; the Marra Mamba Formation target lies to the right of photogr
Slide 19: Canning Basin WA Coal Project
For personal use only CANNING BASIN WA COAL PROJECT
Slide 20: Canning Basin – Coal Exploration
Canning Basin – Coal Exploration For personal use only
Slide 21: Canning Basin - Coal Exploration
Canning Basin ‐ Coal Exploration For personal use only Cullen’s Tenements
Slide 22: Canning Basin - Coal Exploration
Canning Basin ‐ Coal Exploration For personal use only Work completed INTERPRETATION OF SEISMIC DATA REVIEW OF LANDSAT TM AND AEROMAGNETICS DATA GRANT FOR DRILL SUPPORT FROM GSWA (JUNE 2010) PROGRESSIVE TENEMENT APPROVALS SCOUT SAMPLING AND MAPPING FARMED OUT TO “ADVAITA” ‐ COAL BUSINESS
Slide 23: Tsumeb Namibia Copper/REE Exploration
For personal use only TSUMEB NAMIBIA COPPER/REE EXPLORATION
Slide 24: Tenement Applications in Namibia
Tenement Applications in Namibia For personal use only Cullen’s Applications TSUMEB 72 Mt @ 4.3% Cu produced Kalahari Copperbelt Cullen’s KLEIN Applications 5.5 Mt @2% Cu, 50g/t Ag Produced DISCOVERY METALS‘ BOSETO DEPOSIT 103 Mt @1 4% Cu @1.4% Cu, 17 3 g/t Ag 17.3 WITVLEI 13 Mt @1.85% Cu DORDABIS 2
Slide 25: Tsumeb Area – Aeromag Image
Tsumeb Area – Aeromag Image For personal use only Possible magnetic plugs on dykes Cullen Application Tsumeb boundary REE Carbonatite (Kudu Minerals)
Slide 26: Tsumeb Area – Mapped Sand Cover
Tsumeb Area – mapped sand cover For personal use only Possible magnetic plugs on dykes Application Tsumeb boundary REE Carbonatite (Kudu Minerals)
Slide 27: Millungera/Galilee Basins Queensland - Coal Exploration
For personal use only MILLUNGERA/GALILEE BASINS QUEENSLAND ‐ COAL EXPLORATION
Slide 28: Exploration Initiative – NW Queensland
Exploration Initiative – NW Queensland For personal use only Unexplored, newly‐ discovered (2006/2007) sedimentary basin May May have sediments Millungera Mill which correlate with Basin ‐ Coal Galilee Basin May be coal‐bearing Galilee Basin basin Cullen’s Cullen positioned for Applications ne
Slide 29: Millungera/Galilee Basins
Millungera/Galilee Basins For personal use only Cullen Applications for coal
Slide 30: Cullen Applications and Others
Cullen Applications and others For personal use only
Slide 31: Agenda Going Forward (Estimates)
Agenda Going Forward (Estimates) For personal use only 2009 2010 2011 2012 2013/14 IRON (WPIOP ‐ Stage 1) FS completed ~mid‐2010 pp Approvals g then construction begins Production start‐up expected Q1 2014 COAL (Canning Basin) Data compilation/targeting p / g g Marketing Research Funding Option Stud
Slide 32: Summary and Outlook
SUMMARY and OUTLOOK For personal use only • IRON ORE JVs TWO POTENTIAL WEST PILBARA IRON ORE DEVELOPMENT PROJECTS – MAIDEN RESERVE STATEMENT IN PREPARATION FOR APIJV’s WPIOP – Stage g 1 , AND, AWAITING ASSAY RESULTS FROM FIRST DRILLING AT WYLOO SOUTH IN FORTESCUE JV • COAL EXPLORATION TARGETING AND
Slide 33: Thank you
Thank you For personal use only Dr Chris Ringrose Managing g g Director www.cullenresources.com.au cullen@cullenresources.com.au 0439 843 756 089 474 5511
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