Slide 1: Vanadium in the Bushveld Complex
For personal use only ASX:VR8 “VANADIUM IN THE BUSHVELD COMPLEX”
Slide 2: Introduction | Key Points
For personal use only INTRODUCTION | KEY POINTS WORLD CLASS One of the world’s largest vanadium deposits. Indicated and inferred JORC resource 612 Mt @ 0.78% V2O5 in situ incl. 167 Mt @ 1.07% V2O5. EXCEPTIONAL QUALITY Long life open pit mining generates high grade Vanadium concentrate +2% V2O5 post
Slide 3: Corporate Overview
For personal use only CORPORATE OVERVIEW 0.25 0.20 0.15 0.10 0.05 Nov 17 Dec 17 Jan 18 Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 ◆Vanadium Resources has the legal right to Capital Structure 73.95% of the SPD Project.
Slide 4: Peer Comparison
PEER COMPARISON A stand-out amongst all peers For personal use only Chart compares resources reported under different codes and companies at different stages of development as detailed in slide 31. Only resources with a quoted in situ grade > 0.45% V2O5 are shown in figure. ASX: VR8 4
Slide 5: Development Strategy
DEVELOPMENT STRATEGY Focused Management For personal use only FAST TRACK NEXT TO MINE VALUE ADD PARTNERS Fast track of the Create the World’s Pursue all possibilities Begin early resource ready for next Vanadium mine for value adding from development and development or the able to compete on a conce
Slide 6: Geology | Location
GEOLOGY | LOCATION Located in the Bushveld Complex For personal use only Steelpoortdrift is part of a geologically unique igneous complex endowed with deposits of PGEs, chromium, vanadium and magnetite. This world-renowned mining location is host to several mining operations and multiple major minin
Slide 7: Geology | Ore Body
GEOLOGY | ORE BODY Outstanding Mineralisation For personal use only ◆ Steelpoortdrift Project located in the Bushveld Complex, one of the most studied geological provinces in the world. ◆ Vanadiferous titanomagnetite layers occur at the same stratigraphic level across the entire complex and can be t
Slide 8: Geology | Drill Results
GEOLOGY | DRILL RESULTS High Grade Drill Results For personal use only ◆Mineral Resource includes 169Mt ◆ 18m at 0.80% V2O5 from 0m (VRC017) incl. 4m at at 1.07% V2O5 from surface. 1.16% V2O5 ◆Consistent high-grade drill results ◆ 14m at 0.98% V2O5 from 0m / surface (VRC043) from surface. ◆ 34m at 1
Slide 9: Geology | Oxide Zones
GEOLOGY | OXIDE ZONES Excellent Oxide Zone Results For personal use only ◆Mineralisation outcrops or subcrops across project, with weathering < 10m. ◆Amenable to open pit mining with an initial 25-year mine life defined. ◆Unlike many deposits, weathered mineralisation behaves no differently to fresh
Slide 10: Geology | JORC
GEOLOGY | JORC Impressive Reported JORC For personal use only Mineral Resource by Category Tonnes Whole Rock ◆High grade Mineral Resources drilled to Category (Mt) V2O5 % a high level of confidence Indicated 231 0.78 (Indicated and Inferred categories). ◆Global Mineral Resource of Inferred 380 0.77
Slide 11: Geology | Concentrate
GEOLOGY | CONCENTRATE Comprehensive Test Results For personal use only ◆Plant trials show + 2% V2O5 concentrate can be produced using simple beneficiation processes. ◆Excellent mass recovery across mineralised intervals, increasing to + 40% in higher grade zones (+ 1.0% V2O5). ◆Concentrate analysis
Slide 12: Geology | Metallurgical Testing
GEOLOGY | METALLURGICAL TESTING Value-Add Testing Progressing For personal use only ◆Plant trials show +2% V2O5 concentrate can be produced using simple beneficiation processes. (1) ◆Further work planned to identify other value adding possibilities such a pelletisation. ◆Test work planned to produce
Slide 13: Moving Forward | Value Adding
MOVING FORWARD | VALUE ADDING All Options to be Explored For personal use only Test-work will investigate established processing techniques (salt roasting) along with hydrometallurgical techniques and more conceptual “direct attack” methods. ◆Current studies into processing of concentrate to produce
Slide 14: Moving Forward | Timeline
MOVING FORWARD | TIMELINE Aggressive Development Plan For personal use only TIMELINE Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 In Concentrate PFS Progress Complete In In V2O5 Met Work Progress Progress Complete In In V2O5 PFS Planning Progress Progress Complete In V2O5 DFS Planning Pro
Slide 15: Moving Forward | Production
For personal use only MOVING FORWARD | PRODUCTION ◆ Beneficiation plant to produce a V205 concentrate would provide the front-end for V205 production and could be operated independently ◆Contract beneficiation facilities could be utilized while the process plant is under construction. ◆Production of
Slide 16: Moving Forward | Permitting
MOVING FORWARD | PERMITTING Permitting Completed : For personal use only Mining Right Approved Environmental Management Plan Approved Social and Labour Plan Approved ◆The Steelpoortdrift Vanadium Project is covered by a granted Mining Right. ◆The Mining Right remains in force until September 2048. ◆
Slide 17: Location | Investment Advantage
LOCATION | INVESTMENT ADVANTAGE China Committed to S.A For personal use only Prominent Chinese mining companies have strong presence in South Africa through both direct investments or acquisitions of mines in South Africa. ◆ Prominent Chinese mining companies have strong presence in South Africa thr
Slide 18: Location – Limpopo EMSEZ
LOCATION – LIMPOPO EMSEZ China Committed to S.A For personal use only EMSEZ is a large scale bilateral industrial agreement between China and South Africa. The project has already attracted RMB10 billion potential investment from prominent Chinese companies. ◆ EMSEZ is a fully integrated metallurgic
Slide 19: Location | Infrastructure
LOCATION | INFRASTRUCTURE Huge Local Infrastructure Advantage For personal use only Platinum refinery in Bushveld Complex N of Steelpoort ESKOM sub station, 12km from project De Hoop Dam 15km from project Lion Ferrochrome Smelter (Xstrata) in Steelpoort Steelpoort Rail Siding 30km from project ASX:
Slide 20: Location | People
LOCATION | PEOPLE Community Relations Matter For personal use only ◆ Vanadium Resources has maintained a positive relationship with local communities since project inception. ◆ A dedicated local community relations officer has been involved in the project since March 2018. ◆ Recent community meeting
Slide 21: Location | Mine to Market
LOCATION | MINE TO MARKET Proven Existing Port Access For personal use only ◆Existing and proven transport from the Steelpoortdrift resource. ◆Road or rail options. ◆Possibility for initial shipment of +2.0% V2O5 ore concentrate. ◆Possibility to further process in-country and value add to 99.5% V2O5
Slide 22: Expertise | Management
EXPERTISE | MANAGEMENT Experienced Management For personal use only Bill Oliver — Managing Director Geologist with over 20 years wide ranging experience in a range of commodities and jurisdictions including bringing African projects into production. Enviable track record in project identification an
Slide 23: Expertise | Mining Experience
EXPERTISE | MINING EXPERIENCE Real Mining Experience For personal use only South African based directors Nico van der Hoven and Jurie Wessels were responsible for the establishment and development of Bauba Resources Ltd, an active chrome mining company in the Bushveld Complex. ◆Both have hands-on, l
Slide 24: Expertise | Specialist Consultants
EXPERTISE | SPECIALIST CONSULTANTS Access to Specialist Skills For personal use only METS South Africa (Pty) Ltd (SA) ENC Minerals (Pty) Ltd (SA) Sound Mining (Pty) Ltd (SA) Red Kite Consulting (Pty) Ltd (SA) Process design and costing Design and management of Engineering, mine planning and Environm
Slide 25: Markets | Vanadium
For personal use only MARKETS | VANADIUM Specific Vanadium Consumption Rates In Steel ◆Inventories low, additional demand will impact pricing as witnessed during 2018. ◆Recent falls from the 2018 high suggest that low pricing will be maintained at higher levels than historical lows and remain commer
Slide 26: Markets | Steel & Alloys
For personal use only MARKETS | STEEL & ALLOYS ◆ Over 90% of the current demand for vanadium arises from its use to strengthen steel and alloys. ◆ Demand increasing due to more stringent regulations in China for rebar and other steel products used in construction. While implementation has been slowe
Slide 27: Markets | Energy Storage
MARKETS | ENERGY STORAGE ◆Forecasters expect over 1,200GW of For personal use only battery capacity to be added between today and 2050, with approx. 600GW before 2025. 1 ◆VRFBs forecast to represent between 15 and 25 % of battery capacity. ◆Could add up to 10,000mtV of demand into an already undersu
Slide 28: Markets | Vanadium Supply
For personal use only MARKETS | VANADIUM SUPPLY Vanadium Production by Raw Material ◆Over 85% of the world’s vanadium is produced from China, Russia and South Africa. ◆Chinese domestic production is largely from polluting sources (stone coal) or low-grade resources. ◆Stringent implementation of Chin
Slide 29: Disclaimer
For personal use only DISCLAIMER This presentation has been prepared by Vanadium Resources Limited (“the Company” or “Vanadium Resources”). The information contained in this presentation is a professional opinion only and is given in good faith. The information contained herein is confidential and p
Slide 30: Competent Persons Statement
For personal use only COMPETENT PERSONS STATEMENT The information in this announcement that relates to Exploration Results and other technical information relating to drilling and sampling at the SPD Vanadium complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Result
Slide 31: Peer Comparison Information
For personal use only PEER COMPARISON INFORMATION Resource Resource Resource Concentrate Company Code Project Stage Information Source Category Tonnes Grade Grade Measured, 43-101 Technical Report dated 26/10/2017 Indicated Largo LGO.TSX Maracas Production 49.25 0.99 3.10 largoresources.com/operatio
Slide 32: For personal use only
For personal use only Bill Oliver, CEO contact@VR8.global www.VR8.global AUS: +61 8 6559 1792 RSA: +27 21 794 4004 HK: +852 8175 0228 Australia (Head Office) Suite 2/1 Altona Street, West Perth, WA 6005 Australia Vanadium Resources Limited | ASX: VR8