Image Resources Nl · ASX:IMA
Image Resources Nl — RIU Explorers Conference 2021
26 slides from Image Resources Nl's conference presentation, Feb 16, 2021
Slide 1: Australia's newest mineral sands miner
Australia’s newest mineral sands miner Emerging mid-tier prospect Boonanarring Mineral Sands Project RIU Explorers Conference 16-18 February 2021 Fremantle, WA Patrick Mutz Managing Director Image Resources NL ASX:1 IMA
Slide 2: Disclaimer and Forward-looking Statements
Disclaimer and Forward-looking Statements This presentation/document has been prepared by the management of Image Resources NL ("Image”, “IMA“, or “the Company”). By accessing this presentation you acknowledge that you have read and understood the following statements. This presentation contains cer
Slide 3: Corporate Snapshot
Corporate Snapshot Diverse and Experienced Board and Management ASX Code IMA Board of Directors Share Price A$0.18* Bob Besley – Independent Chairman 12-Month Price Range A$0.12-0.22 Patrick Mutz – Managing Director Shares on Issue 992m Chaodian Chen - Non-Executive Director Market Cap A$174m* Aaron
Slide 4: Company Introduction: Australia's newest mineral sands mining company
Company Introduction Australia’s newest mineral sands mining company Excellent Location 80km N of Perth ➢ Transitioned from advanced explorer to active miner in 2018 High Grade Ore • Developed flagship Boonanarring Project in 8.9% HM North Perth Basin • One of the highest grade, zircon-rich project
Slide 5: Company Introduction: Two full years of profitable operations
Company Introduction Australia’s newest mineral sands mining company ➢ Completed two full years of profitable operations (through Dec 2020) • Met market guidance in CY2019 after raising it twice during the year • Maintained and met CY2020 original guidance, despite the uncertainties stemming from gl
Slide 6: Operational Performance
Operational Performance ➢ HMC sales matched production in CY2019 ➢ Record high HMC production in 1H 2020, but subdued sales due to COVID-19 ➢ CY2020 sales weighted to 2H, with record quarterly sales Sep Qtr eclipsed in Dec Qtr HMC Production and Sales (kt) 6
Slide 7: Operating Cost Performance - Graphic
Operating Cost Performance - Graphic Indicative Margin 7
Slide 8: Operating Cost Performance – Notes for previous graphic
Operating Cost Performance – Notes for previous graphic ➢ March Qtr 2020 indicative profit margin (based on HMC price received/t minus AISC cash costs/t HMC produced) at record high due to record high HMC production from high grade ore and minimal HMC transport/shipping costs due to minimal sales fr
Slide 9: Market Guidance
Market Guidance 2020 2020 2021 Item Units Actual Guidance Guidance HMC Production kt 306 300-330 290-320 HMC Sales kt 311 300-330 300-320 Project Operating Costs A$m 90 100-110 90-100 C1 Cash Costs A$/t HMC sold 292 290-320 290-320 AISC Cash Costs A$/t HMC sold 337 340-370 340-370 There are a number
Slide 10: Tenement Portfolio Summary
Tenement Portfolio Summary Image portfolio of 100%-owned tenements ➢ 12 mineral sands projects across more than 1000 km2 in the North Perth Basin ➢ 2 projects amenable to dry mining with ore reserves; 20Mt @ 8,5%HM*; 1 active, 1 in planning ➢ 6 other projects amenable to dry mining with mineral reso
Slide 11: Projects Pyramid – Strand Deposits – Dry Mining
Projects Pyramid – Strand Deposits – Dry Mining Projects Accessible by Dry Open-Cut Mining Ore Reserves for Boonanarring and Atlas* Mineral Resources for all others* Projects ranked by combined zircon plus rutile (Z+R) contained in the HM Boonanarring, Atlas, Helene & Hyperion per JORC Code (2012);
Slide 12: Projects Pyramid – Dredge Mining Prospects
Projects Pyramid – Dredge Mining Prospects Projects Accessible by Dredge Mining Mineral Resources shown for all projects* Projects ranked by HM Grade. Combined zircon plus rutile (Z+R) contained in the HM also shown. Positive attributes • 90+%VHM; • <5% slimes; Bidaminna • 25-67% Leucoxene; Bidaminn
Slide 13: 2021 & Beyond – Current position and plans
2021 & Beyond – Current position and plans Current Mine-life Position ➢ Mining plan contemplated in 2017 BFS; commence mining at Boonanarring and when depleted, relocate processing plant (WCP) and mining operations to Atlas ➢ Boonanarring mining commenced Dec 2018 and current ore reserves support mi
Slide 14: 2021 & Beyond – Advancing to Atlas and beyond
2021 & Beyond – Current position and plans Advancing to Atlas and beyond ➢ Atlas development planning well-advanced; targeting worst-case of having to relocate in Q4 2022 ➢ Transition period with zero HMC production estimated to be 3 months; currently researching methods to decrease this gap ➢ Preli
Slide 15: 2021 & Beyond – Challenges
2021 & Beyond – Challenges Past performance is not a reliable indicator of future performance, but earned reputation might be. Future winners are created out of the challenges of today. Current challenges: ➢ Limited current ore reserves • Project ‘MORE’ may deliver additional incremental reserves in
Slide 16: 2021 & Beyond – Future possibilities
2021 & Beyond – Future possibilities Targeting Growth and Sustainability ➢ Beyond the planned continuation of dry mining in the Atlas area, and beyond that at the Red Gully/Regans Ford, real growth for Image must include longer- lived ore reserves and/or a second operating centre and growth has been
Slide 17: Image Resources – Beyond Operations
Image Resources – Beyond Operations Social Licence and Sustainability ➢ Image looks forward to growing into a sustainable, mid-tier mining company ➢ Areas of specific focus beyond day to day mining and processing operations include: • Health, safety and well being of employees, contractors, consulta
Slide 18: Community Engagement Program
Community Engagement Program ➢ Image is proud of its active and varied community support and engagement program including significant local employment. ➢ At 31 Dec 2020 50% of the site workforce lives locally to the operation or within regional shires. ➢ Image Grand Opening was held on 19 September
Slide 19: Rehabilitation Snapshot: Before Mining – April 2018
Rehabilitation Snapshot: Before Mining – April 2018 19
Slide 20: Rehabilitation Snapshot: During Mining – June 2019
Rehabilitation Snapshot: During Mining – June 2019 20
Slide 21: Rehabilitation Snapshot: Backfilled – December 2019
Rehabilitation Snapshot: Backfilled – December 2019 21
Slide 22: Rehabilitation Snapshot: 13 hectares re-vegetated – August 2020
Rehabilitation Snapshot: 13 hectares re-vegetated – August 2020 22
Slide 23: Solar Farm at Boonanarring
Solar Farm at Boonanarring Sunrise Energy Group Pty Ltd constructing 2.3 MWAC solar farm ➢ Construction and operation by Sunrise Energy; ➢ Located on Image owned land adjacent to Boonanarring processing plant ➢ Recently commissioned and now providing up to 30% of electricity requirements for mining
Slide 24: Solar Farm at Boonanarring
Solar Farm at Boonanarring Boonanarring WCP Brand Highway 24
Slide 25: Forward Looking Plans
Forward Looking Plans Summary ➢ Continue with profitable operations at Boonanarring ➢ Continue to work to Increase Ore Reserves under Project ‘MORE’ ➢ Ensure Atlas development / construction ready as next dry mining operation post Boonanarring ➢ Continue to look to geographically diversify HMC sales
Slide 26: For further information
For further information 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 26