Image Resources Nl · ASX:IMA
Image Resources Nl — Noosa Mining & Exploration Investor Conference 2019
25 slides from Image Resources Nl's conference presentation, Jul 18, 2019
Slide 1: Boonanarring Mineral Sands Project
1 For personal use only Boonanarring Mineral Sands Project 100%-owned; high-grade; zircon-rich 80km north of Perth in Western Australia Built on-time & on-budget; Production Exceeding Expectations Noosa Mining & Exploration Investor Conference Peppers Noosa Resort, QLD 17-19 July 2019 Patrick Mutz M
Slide 2: Disclaimer and Forward-Looking Statements
Disclaimer and Forward-Looking Statements 2 For personal use only This presentation/document has been prepared by the management of Image Resources NL ("Image”, “IMA“, or “the Company”). The information presented includes an indicative outlook of the business activities of Image for the calendar yea
Slide 3: Investor Snapshot
Investor Snapshot 3 For personal use only Company transitioning to profitable miner and realisation of full valuation Ø Project construction and commissioning completed ‘on-schedule’ and ‘on-budget’ Ø Production commenced 1 Dec 2018 Ø Ramp-up to full production in 2nd month of operations Ø Completed
Slide 4: Investor Snapshot
Investor Snapshot 4 For personal use only Company transitioning to profitable miner at a time of supply shortage of zircon Ø March QTR (continued): • Zircon grade in ore 129% of budget Rough zircon grains • Zircon = 84% of revenue • Revenue $24.8 million • Net Profit After Tax $0.94M vs budgeted los
Slide 5: Image Corporate Snapshot
Image Corporate Snapshot 5 For personal use only Diverse and experienced Board and Management ASX Code: IMA Board of Directors Share Price: A$0.27* Bob Besley – Independent Chairman 12-Month Price Range: A$0.10– 0.28 Patrick Mutz – Managing Director Shares on Issue: 964m Chaodian Chen - Non-Executiv
Slide 6: Products and Applications
Products and Applications 6 For personal use only Key products are zircon and titanium dioxide Ø Zircon sand is processed into zirconium compounds, intermediate products and zirconium metal for a variety of applications; s Qualitie r § Ceramics (tiles); 55% demand whitene r opacifie istant s heat re
Slide 7: Products and Applications
Products and Applications 7 For personal use only Key products are zircon and titanium dioxide Ø Titanium dioxide (TiO2) from rutile and ilmenite is processed into titanium based products and titanium metal for a variety of applications; § Ultra-white pigments (paint, paper, plastic); ~90% demand §
Slide 8: Project Location
Forward Project Looking LocationStatement 8 For personal use only q LOCATION Ø North Perth Basin in Western Australia Ø 80 km north of Perth CBD Ø Proven mineral sands address § Including majors Iluka and Tronox Ø Infrastructure rich § paved roads, power, gas pipeline water, telecommunications etc.
Slide 9: Project Types and Locations
Project Types and Locations 9 For personal use only Ø 1,000 km2 tenements portfolio Atlas Ore Reserves Ø 100% focus on mineral sands Probable: 9.5Mt @ 8.1% HM Ø Strandline projects (dry mining) Ø Dredge mining prospects Boonanarring Ore Reserves Multiple opportunities for a second Proved: 9.3 Mt @ 8
Slide 10: Ore Reserves
Forward Ore Reserves Looking Statement 10 For personal use only q QUALITY ORE RESERVES Ø JORC Code (2012) Compliant Ø High HM, VHM and very high zircon at Boonanarring High Grade Ore Reserves - Strand Deposits; in accordance with the JORC Code (2012) Project/Deposit Category Volume Tonnes % HM % Sli
Slide 11: Products and Prices
Products and Prices 11 For personal use only Notes: VHM assemblages and commodity prices are estimates based on Boonanarring project heavy mineral concentrate product.
Slide 12: Target Production Rate
Forward Target Production Looking Statement Rate 12 For personal use only Base Assumptions s w eight*! Ø Start mining at Boonanarring 4 t imes above it Punches Ø Dry, open-cut mining i n r e v enue to lent * -Equiva es per hour at n Ø Production rate - 500 dry tonnes per hour 2,000 ton ades of Ore g
Slide 13: Boonanarring – Production Statistics
Boonanarring – Production Statistics 13 For personal use only Average annual production at Boonanarring (5 yrs) Ø 240k tonnes HMC; containing; • 60kt zircon (70kt/year in 2019-20) • 130kt ilmenite • 6kt rutile • 4kt leucoxene Ø 5.5 years mine life with potential to add 3-4 years additional ore reser
Slide 14: Boonanarring – HM Ore Grade
Boonanarring – HM Ore Grade 14 For personal use only
Slide 15: Boonanarring – Zircon Grade in Ore HM
Boonanarring – Zircon Grade in Ore HM 15 For personal use only
Slide 16: Boonanarring – HMC Production
Boonanarring – HMC Production 16 For personal use only
Slide 17: Recent Announcements
Recent Announcements 17 For personal use only Ø 14 March 2019; ‘Targeting Ore Reserve Upgrade at Boonanarring’ § High grade Core identified in eastern ore strand Ø 13 May 2019; ‘Image Mines Ultra-High-Grade Ore’ § Identification of zone of direct shipping ore (DSO) at up to 95%HM and 70% zircon in t
Slide 18: Boonanarring – 2019 Guidance
Boonanarring – 2019 Guidance 18 For personal use only 2019 CY Production and Profitability Guidance1,2 2019 Production Guidance 2020 Forecast Ore processed (million tonnes) 3.4-3.7 3.6-3.8 HMC3 produced (000 tonnes) 220-240 280-300 HMC sold (000 tonnes) 220-240 280-300 Costs (AU$) Project operating
Slide 19: Upside Potential
Forward UpsideLooking Potential Statement 19 For personal use only Upside potential at and near Boonanarring Ø Confirmed potential to extend mine life with high grade mineralisation (ASX announcement 13 March & 26 June 2017); § Assuming mineralisation in extension area is identical to known Ore Rese
Slide 20: Boonanarring High-Grade Extension
Boonanarring High-Grade Extension 20 For personal use only ASX - 13 March & 26 June 2017 New Drilling Results (Feb 2017) Ø Confirm 5.6km northern extension of Boonanarring mineralisation Ø Outstanding high grade intersections: § 8m @ 23.8% HM in IX00245 § 8m @ 21.1% HM in IX00244 and § 8m @ 16.3% HM
Slide 21: Projects Pyramid – Strand Deposits
Projects Forward Looking PyramidStatement – Strand Deposits 21 Mineral Resources – Accessible by Dry Open-Cut Mining For personal use only Projects ranked by combined Zircon (Zr) plus Rutile (Ru) BFS assumes mining at Boonanarring Tonnes-grades are for Mineral Resources; Boonanarring and Atlas per J
Slide 22: Projects Pyramid – Dredge Prospects
Projects Forward Looking PyramidStatement – Dredge Prospects 22 Mineral Resources – Accessible by Dredge Mining For personal use only Projects ranked by HM Grade Positive attributes • 90+%VHM; • <5% slimes; Tonnes-grades are for historic Mineral Bidaminna • 25-67% Leucoxene; Resources per JORC Code
Slide 23: Potential Royalty from Tronox
Potential Royalty from Tronox 23 For personal use only Royalty agreement in place as of 2014 Ø Small cash payment (already received) Ø Sliding-scale royalty on production Avg. HM Grade Royalty 2.5% 1.25% 3.0% 2.50% 3.5% 3.75% 4.0% 5.00% Ø Indefinite production schedule Ø Potential for future arrange
Slide 24: Use of Solar Energy
Use of Solar Energy 24 For personal use only Heads of Agreement with Sunrise Energy Group Pty Ltd to provide 3-4 MWAC solar farm to be: Ø Constructed and operated by Sunrise Energy; Ø Located on Image owned land adjacent to Boonanarring mine site; and Ø Providing 25% of total electricity requirement
Slide 25: Contact
Contact For further information 25 For personal use only Patrick Mutz Managing Director Image Resources NL info@imageres.com.au Office: +61 8 9485 2410 Ground Floor, 23 Ventnor Avenue West Perth, WA 6005 PO Box 469, West Perth, WA 6872 www.imageres.com.au
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