Image Resources Nl · ASX:IMA
Image Resources Nl — Critical Minerals & Energy Investment 21-22 October 2024
26 slides from Image Resources Nl's conference presentation, Oct 21, 2024
Slide 1: Critical Minerals Supplier 2025 & Beyond
ASX: IMA For personal use only Critical Minerals Supplier 2025 & Beyond Critical Minerals & Energy Investment 21-22 October 2024 Patrick Mutz Managing Director
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”). The information presented includes an indicative outlook of the business activities of Image for the calendar year (CY) 2024 and beyond a
Slide 3: Company Highlights
Company Highlights ✓ Proven critical minerals developer/operator For personal use only ➢ Boonanarring mineral sands project; 2018-2023 ➢ Critical minerals: zirconium (as zircon); titanium (as ilmenite and rutile); and rare-earth elements (as monazite) ➢ Produced 1.2m tonnes heavy mineral concentrate
Slide 4: Boonanarring Project
Boonanarring Project ✓ Reasons for Success For personal use only ➢ Low capital cost; A$56M (used equipment) ➢ On-time, on-budget build ➢ High-grade deposit; 8.0% HM and 28% zircon in the HM ➢ Nameplate capacity in 2 months ➢ Coarse grain minerals; 90+% HM recovery ➢ Simple business model ➢ Location,
Slide 5: Original Business Strategy – Chapter 1
Original Business Strategy – Chapter 1 ✓ 2017 Bankable Feasibility Study Strategy 1 For personal use only ➢ Build and profitably operate Boonanarring project ➢ Self-fund relocation of mining and processing equipment to Atlas ➢ Build and profitably operate Atlas project ➢ Mines operated in series usi
Slide 6: Project Locations
Project Locations For personal use only PERTH IMAGE RESOURCES ASX:IMA 6 Map 1.01 – Project location map
Slide 7: Project Portfolio
Project Portfolio ✓ Original Project Portfolio Yandanooka – PFS complete For personal use only DFS underway – targeting Q3 2026 production ➢ Boonanarring Project – mined out – 1.2mt HMC ▪ Successfully operated 2018-2023 ➢ Atlas Project – under construction – forecast 445kt HMC ➢ Bidaminna Project –
Slide 8: New Business Strategy – Chapter 2
New Business Strategy – Chapter 2 ✓ Chapter 2 strategy – Growth & Sustainability For personal use only ➢ Growth ▪ Multiple mines – operating simultaneously ▪ Multiple products – establishing mineral separation capabilities ▪ Multiple customers – expanding customer base globally ➢ Sustainability ▪ Lo
Slide 9: Atlas Bankable Feasibility Study – December 2022
Atlas Bankable Feasibility Study – DECEMBER 2022 BFS1 HIGHLIGHTS: Based on selling heavy mineral concentrate (HMC) product UNDER CONSTRUCTION For personal use only Status Capital spent Capital remaining Capital payback EBITDA Forecast mine-life Total HMC production Under A$148M construction A$13M A$
Slide 10: Yandanooka Pre-Feasibility Study – April 2024
Yandanooka Pre-Feasibility Study – APRIL 2024 PFS1 HIGHLIGHTS: Based on selling heavy mineral concentrate (HMC) product BFS COMMENCED For personal use only Pre-tax NPV 8 Pre-tax IRR Capital estimate Capital payback EBITDA Forecast mine-life Total HMC production A$151M 72% A$50.3*M 15 Months A$277M 8
Slide 11: Bidaminna Pre-Feasibility Study – June 2023
Bidaminna Pre-Feasibility Study – JUNE 2023 PFS1 HIGHLIGHTS: Based on selling heavy mineral concentrate (HMC) product BFS COMMENCED For personal use only Pre-tax NPV 8 Pre-tax IRR 8 Capital estimate Capital payback EBITDA Forecast mine-life Total HMC production A$192M 28% A$194M 3.8 Years A$379M 10.
Slide 12: Synthetic Rutile Value Proposition
Synthetic Rutile Value Proposition For personal use only highest mass Convert ilmenite to synthetic rutile lowest value ➢ Line graphs of mass contribution in HMC added ➢ Bar graphs represent rough min and max for various Image projects commodity prices across CY2021-22 (for relative comparison only)
Slide 13: Synthetic Rutile Value Proposition
Synthetic Rutile Value Proposition Initial bench-scale test results – ASX announcement 9 August 2023 For personal use only IMAGE RESOURCES I ASX:IMA I 13
Slide 14: Synthetic Rutile Value Proposition
Synthetic Rutile Value Proposition ➢ Initial ilmenite conversion testing conducted using fluidized bed reactor For personal use only ➢ New process formulated using different furnace with numerous potential advantages: ▪ Accepts variable feedstock moisture content ▪ Lower energy consumption ▪ Substan
Slide 15: Preliminary Conceptual Development Plan
Preliminary Conceptual Development Plan For personal use only IMAGE RESOURCES I ASX:IMA I 15
Slide 16: Corporate Snapshot
Corporate Snapshot ASX: IMA I IMAGE RESOURCES NL For personal use only Share Price (30 Sep 2024) Issued Shares (30 Sep 2024) Market Capitalisation Cash on hand (30 Sep 2024) Debt Enterprise Value A$0.069 1,122M A$77M A$30M A$0M A$47M TOP FIVE SHAREHOLDERS BOARD OF DIRECTORS Bob Besley Non-Executive
Slide 17: ESG & Sustainability
ESG & Sustainability For personal use only Key ESG initiatives and outcomes reported in CY2023 Sustainability Report Available online: www.imageres.com.au Continued use of 2.3MW solar farm in CY2023 to provide 25% of total electricity requirements at Boonanarring project IMAGE RESOURCES I ASX:IMA I
Slide 18: Contact us
ASX: IMA For personal use only A note of Contact us gratitude to some of our info@imageres.com.au Industry Partners +61 8 9485 2410 Level 2, 1 Walker Avenue West Perth, WA 6005 PO Box 469, West Perth WA 6872 www.imageres.com.au
Slide 19: Additional information
For personal use only Additional information The announcements mentioned in this release are available on the Company’s website at www.imageres.com.au. The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announce
Slide 20: Appendices
For personal use only Appendices
Slide 21: Mineral Resources & Ore Reserves Statement
Mineral Resources & Ore Reserves Statement For personal use only IMAGE RESOURCES I ASX:IMA I 21
Slide 22: Mineral Resources & Ore Reserves Statement
Mineral Resources & Ore Reserves Statement For personal use only IMAGE RESOURCES I ASX:IMA I 22
Slide 23: Mineral Resources & Ore Reserves Statement
Mineral Resources & Ore Reserves Statement For personal use only IMAGE RESOURCES I ASX:IMA I 23
Slide 24: Mineral Resources & Ore Reserves Statement
Mineral Resources & Ore Reserves Statement For personal use only IMAGE RESOURCES I ASX:IMA I 24
Slide 25: Mineral Resources & Ore Reserves Statement
Mineral Resources & Ore Reserves Statement For personal use only IMAGE RESOURCES I ASX:IMA I 25
Slide 26: Mineral Resources & Ore Reserves Statement
Mineral Resources & Ore Reserves Statement For personal use only IMAGE RESOURCES I ASX:IMA I 26
Image Resources NL — Critical Minerals & Energy Investment 21-22 October 2024 on 6ix