Slide 1: Annual General Meeting
For personal use only Annual General Meeting Perth 24 November, 2011
Slide 2: Meeting Overview
2011 Annual General Meeting For personal use only Meeting Overview Chairman: Malcolm Richmond Managing Director: Ken Hellsten Directors: William Johnson Matthew Hammond Company Secretary: Stephen Gethin Notice of AGM: 23 October 2011 Proxies Received: 88 - representing 78,121,818 voting shares 2
Slide 3: Agenda
2011 Annual General Meeting For personal use only Agenda • Chairman’s Overview • Managing Director’s Presentation • Questions for the Managing Director • Financial and Directors’ Reports • Questions for the Auditor • Resolutions 1 – 3 3
Slide 4: Chairman's Overview
For personal use only Chairman’s Overview
Slide 5: Key Achievements during 2010/11
2011 Annual General Meeting For personal use only Chairman’s Overview Key Achievements during 2010/11 ü Board restructure Ø 7 directors reduced to 4 Ø Appointment of additional independent NEDs commenced ü Move to 50% of Apurimac Ferrum (AF) ü Established strong AF executive team ü Cuervo transactio
Slide 6: Managing Director's Presentation
For personal use only Managing Director’s Presentation
Slide 7: Peru Iron Ore Projects – AF Highlights
2011 Annual General Meeting For personal use only Peru Iron Ore Projects – AF Highlights • Move to 50% direct interest in concession owner (AF) • JORC resources of 374Mt Pictures here. including 269Mt @ 57.3% Fe* • Strong working relationship established with JV partner • Strong executive team estab
Slide 8: Peru Iron Ore Projects – Opaban Resource Extension
2011 Annual General Meeting For personal use only Peru Iron Ore Projects – Opaban Resource Extension Massive • Current resource of 269Mt @ 57.3% Fe magnetite outcrop • “Walk up” drilling targets at over 1km Opaban North, depth extensions to west and Resource Opaban 3 extensions Outline (red) • Timin
Slide 9: Peru Iron Ore Projects – AF Priority Exploration Targets
2011 Annual General Meeting For personal use only Peru Iron Ore Projects – AF Priority Exploration Targets Opaban 1 North Mapsa 2001 & Ferrum 27 • Mapping and magnetics • Mapping continuing • 1km magnetite and • 4 priority magnetic targets for magnetic anomaly drilling Christoforo 22 Pictures here.
Slide 10: Peru – Business Development Opportunities
2011 Annual General Meeting For personal use only Peru – Business Development Opportunities Mightiam • Complements exploration Las programs Cerro Ccopane Bambas (Xstrata) (Cuervo) • Potential Pictures here. iron-ore to accelerate resource growth • Excellent potential for copper and gold deposits • B
Slide 11: Cuervo Transaction – An Option On Additional Resources
2011 Annual General Meeting For personal use only Cuervo Transaction – An Option On Additional Resources • Orcopura: • Resource of 106.4Mt @ 45.3%Fe • Open along strike and at depth Pictures here. • Huillque: 1.132Mt @ 0.77% Cu • 21 DDH, best result of 79m @ 62%Fe (63m) • Open to north and at depth
Slide 12: Peru Iron Ore Projects – Approvals Progress
2011 Annual General Meeting For personal use only Peru Iron Ore Projects – Approvals Progress 2010 Status 2011 Status • Presidential and regional • Elections completed, macro settings elections underway and similar though evidence of growing Pictures here. communities not engaged unrest • Access app
Slide 13: Peru – Political Climate And Risk
2011 Annual General Meeting For personal use only Peru – Political Climate And Risk ü Presidential and Regional elections completed × Left to Centre Left Humala wins Presidency ü Re-appoints Central Bank Governor and establishes balanced cabinet with moderates in key economic portfolios and as Prime
Slide 14: Impact of New Mining Tax on Overall Tax Burden – Modeled
2011 Annual General Meeting For personal use only Impact of New Mining Tax on Overall Tax Burden – Modeled COMPANY WITHOUT A TAX STABILITY CONTRACT: COMPANY WITH A TAX STABILITY CONTRACT : BURDEN ACCORDING TO A MODEL MINING COMPANY’S PROFITABILITY BURDEN ACCORDING TO A MODEL MINING COMPANY’S PROFITA
Slide 15: Iron Ore Outlook
2011 Annual General Meeting For personal use only Iron Ore Outlook CRU Iron Ore Outlook, 2011 ü Demand outlook remains strong, mainly driven by China and to a lesser extent India ü Cost curve has materially changed and marginal cost of production is now US$110 – 140/dtmu ü While large production inc
Slide 16: Looking Back
2011 Annual General Meeting For personal use only Looking Back • Corporate • Board restructure undertaken and moving towards majority of independent directors • Share price performance very poor • Cash position remains strong (A$26M at end of October) • Peru • Strong AF team in place, 44% to 50% in
Slide 17: Moving Forward
2011 Annual General Meeting For personal use only Moving Forward • Corporate • Recruitment of independent directors well advanced • Gain recognition of project value and potential by market • Retain prudent approach to cash management • Peru • Move to majority position in AF if possible or next US$2
Slide 18: Formal Business
2011 Annual General Meeting For personal use only Formal Business • Consider Financial Statements and Directors’ and Auditor’s Reports • Resolutions 1 Re-Elect Matthew Hammond as a Director 2 Approve Issue of Options to Kenneth Hellsten 3 Adopt Remuneration Report 18
Slide 19: Resolution: Re-Election of Matthew Hammond
2011 Annual General Meeting For personal use only Resolution 1 Re-Election of Matthew Hammond Proxy For Against Abstain Open Totals Pictures here. Summary All Proxies 74,267,031 150,385 105,846 3,598,556 78,121,818 Received Chairman’s Proxies 57,576,229 150,385 105,846 - 57,832,460 Received Pictures
Slide 20: Resolution: Issue of Options to Kenneth Hellsten
2011 Annual General Meeting For personal use only Resolution 2 Issue of Options to Kenneth Hellsten Proxy For Against Abstain Open Totals Pictures here. Summary All Proxies 70,739,130 3,714,786 72,346 3,595,556* 78,121,818 Received Chairman’s Proxies 54,048,328 3,711,786 72,346 - 57,832,460 Received
Slide 21: Resolution: Adopt Remuneration Report
2011 Annual General Meeting For personal use only Resolution 3 Adopt Remuneration Report Proxy For Against Abstain Open Totals Pictures here. Summary All Proxies 74,050,423 397,683 78,156 3,595,556* 78,121,818 Received Chairman’s Proxies 57,359,621 394,683 78,156 - 57,832,460 Received * Of these, 3,
Slide 22: Forward-looking Information
2011 Annual General Meeting For personal use only Forward-looking Information This presentation contains certain forecasts and forward-looking information, including regarding possible or assumed future performance, costs, production levels or rates, prices, reserves and resources orhere. Pictures p
Slide 23: Thank you
For personal use only Strike Resources Limited ASX: SRK www.strikeresources.com.au Thank you
Slide 24: JORC Code Information
2011 Annual General Meeting For personal use only JORC Code Information The Resource of 374Mt (including 269Mt @ 57.3% Fe) referred to in slide 7 is comprised of a 104.4Mt Inferred Resource at 32.6% Fe at Cusco, plus the Resource at Apurimac referred to below. Pictures The Resource of 269Mt @ 57.3%