Slide 1: Developing World Class Coal Deposits – Ovoot Coking Coal Project Update
Aspire Mining Limited (ABN 46 122 417 243) For personal use only Developing World Class Coal Deposits Ovoot Coking Coal Project Update October 2010
Slide 2: Disclaimer
Disclaimer For personal use only The purpose of this presentation is to provide general information about the Ovoot Coking Coal Project and other Mongolian coal projects. Unless otherwise stated herein, the information in this presentation has been based on information provided by the Vendor of the
Slide 3: Executive Summary
Executive Summary For personal use only ASX Listed Mongolian Coal Company • Ovoot Coking Coal Project (100%) • Nuramt Coal Project (100%) • g Shanagan Joint Venture ((51% Earn in)) Ovoot Coking Coal Project (100%) – A growing strategic asset • Maiden JORC Compliant Coal Resource of 330.7 mt with
Slide 4: Corporate Overview
Corporate Overview For personal use only Capital Structure (ASX:AKM) Share Price (LTM) Undiluted Diluted $0.20 20m Share Price -19 Oct 10 $0.175 $0.175 Shares 425.6m 681.0m $0.15 15m Options p 255.4m n/a Market Cap $74.5m $119.2m $0.10 10m Net Cash - 30 Jun 10 $5.7m $19.0m $0.05 5m Enterprise Value
Slide 5: Experienced Board
Experienced Board For personal use only David McSweeney LLB, MAICD - Chairman • Over 20 years experience in the resources sector • A founder f d off Gindalbie Gi d lbi Metals M t l Ltd andd was th the M Managing i DiDirector t ffrom 1998 until til December 2006 • Also Executive Chairman of Avalon
Slide 6: Project Locations – North West Mongolia
Project Locations – North West Mongolia For personal use only 6
Slide 7: For personal use only
Ovoot Coking Coal Project For personal use only Maiden 330.7 mt JORC Coal Resource Large +500 km2 tenement JORC Resource position 100% owned by Aspire Adjacent to existing small scale, open cut coal mine supplying local villages Current exploration drilling focused on less than 10% Zuun De
Slide 8: Maiden JORC Coal Resource
Maiden JORC Coal Resource For personal use only Category Non Oxide (mt) Oxide (mt) Total (mt) Measured 93.3 ‐ 93.3 Indicated 182.4 ‐ 182.4 Inferred 30.4 24.6 55.0 Total 306.1 24.6 330.7 M More than h 80% off the h Resource R iin the h MMeasured d and d IIndicated di d category 75% of the Resourc
Slide 9: Recent Results Highlight Future Resource Growth
Recent Results Highlight Future Resource Growth For personal use only 9
Slide 10: Ovoot Raw Coal Quality Data Update
Ovoot Raw Coal Quality Data Update For personal use only IM % Ash % Volatiles % Sulphur % CSN Energy Kcal\kg Combined 0.6% 17.8% 28% 1.1% 7.8 6,761 seams below oxidation level All results on air dried weighted average basis for raw coal samples Data based on 9 holes and 124 samples Further 190
Slide 11: Ovoot Raw Coal Quality Results
Ovoot Raw Coal Quality Results For personal use only 11
Slide 12: Future Exploration Programme at Ovoot
Future Exploration Programme at Ovoot For personal use only Targeting g g substantial further Resource increases at Ovoot 2-D Seismic Program underway to enable high g confidence targeting g g of additional Resources Expanded drilling programme in 2011 to target: • Near surface resource extensio
Slide 13: Nuramt Coal Project
Nuramt Coal Project For personal use only Aspire owns a 100% project interest 200 sq km exploration project covering interpreted basin 35 km of strike along coal bearing sediments Drilling and trenching planned for 4th Quarter 2-D Seismic Survey planned Strategic Location: • 40 kms south f
Slide 14: Nuramt Coal Project
Nuramt Coal Project For personal use only Short Drilling g program planned Oct 10 Core C drilling g for fresh samples for Analysis 2-D 2 D Seismic Survey to develop 2011 Targets Targeting resource to support 2 – 5 mtpa production 14
Slide 15: Feasible Rail Path Identified
Feasible Rail Path Identified For personal use only Calibre Rail reviewed a number of rail options to connect Ovoot to coal export markets Multiple potential users of rail between Moron and Erdenet Rail path analysis identified a preferred and feasible: • 162 km rail path to Moron • 390 km rai
Slide 16: Northern Mongolian Rail Alliance (NMRA)
Northern Mongolian Rail Alliance (“NMRA”) For personal use only • NMRA established to drive support pp for funding g rail link between Moron and Erdenet • Apart from Ovoot Coking Coal Project there are many other Projects near Moron which would benefit from a rail link to Erdenet: • The Burenhaan Ph
Slide 17: Summary
Summary For personal use only Ovoot Coking Coal Project (100%) • Maiden JORC Coal Resource of 330.7 mt • New Coking Coal Province emerging in Northern Mongolia • 2011 exploration programme to grow Resource base further • C Coall quality lit ttestt work k underway, d results lt anticipated ti i t d
Slide 18: Competent Person Statement
Competent Person Statement For personal use only In accordance with the Australian Stock Exchange requirements, the technical information contained in this announcement in relation to the Ovoot Coking Coal Project in Mongolia has been reviewed by Mr Neil Lithgow – Non Executive Director of Aspire Mi
Slide 19: Corporate Objective
Corporate Objective For personal use only “To Become the Pre‐eminent Independent Coking Coal Miner in Mongolia” Contact Details : David Paull : Tel : +61 8 9381 1995 Managing Director Mob : +61 (0) 407 22 5291 Email: david@aspiremininglimited.com @ p g 19