Eastern Resources Limited · ASX:EFE
Eastern Resources — Eastern Iron — Shareholder Meeting (November 2008)
25 slides from Eastern Resources's shareholder meeting presentation, Nov 26, 2008
Slide 1: 2008 AGM - A New Sunrise, The Eastern Dragon
For personal use only 2008 - AGM …A New Sunrise …The Eastern Dragon 01
Slide 2: Eastern Iron - Snapshot Executive Summary
! Eastern Iron - Snapshot EXECUTIVE SUMMARY ! ASX Listed - 16 May 2008 For personal use only ! Major Shareholder - PlatSearch NL ! Cash on hand - circa $4.0 Million ! 15 granted licences, 2 applications and a JV ! Current Bonus options issue ! Cobar Project ! Main iron mineral is maghemite, a magnet
Slide 3: 2008 - Our First Year In Review
2008 - Our First Year In Review For personal use only ! Identified Channel Iron ore deposit potential in NSW in more than 1,100 kilometres of palaeochannel target length. ! Completed capital raising of $5 million and commenced trading on the ASX on 16 May 2008. ! Fulfilled requirements to earn an 80
Slide 4: 2008 - Our First Year In Review (cont.)
2008 - Our First Year In Review For personal use only ! Outlined an area for resource trial drilling with potential to produce ex-mine products grading at least 50% Fe, “magnet direct ore” ! Signed a Joint Venture agreement with Drysdale Resources to explore a major, prospective palaeochannel system
Slide 5: Scout Drilling - Bimbella Prospect and gold target
Scout Drilling For personal use only Bimbella Prospect And gold target Yellow Streak Gold Mine Historic Production 293t @ 34.9 g/t Laneway Prospect ASX Code: EFE 26 November 2008 …iron’s new horizon 05
Slide 6: Bimbella Gold Target
Bimbella Gold Target North Limited BWRP2 - 14m @ 0.33 g/t Au (48-62m) For personal use only Soil Grid and RC Drilling BWRP04 - 6m @ 0.42 g/t Au (54-60m) 12m @ 0.13 g/t Au (104-116m) BWRP05 - 8m @ 0.41 g/t Au (24-32m) 10m @ 0.42 g/t Au (44-54m) 6m @ 0.16 g/t Au (70-76m) 4m @ 0.14 g/t Au (116-120m) 8m
Slide 7: Laneway Prospect
Laneway Prospect 6 to 10 metres For personal use only of non magnetic cover sediments Alluvial gold potential Broad intersections of low-grade iron gravel Gold potential in basement rocks ASX Code: EFE 26 November 2008 …iron’s new horizon 07
Slide 8: Scout Drilling - Belah, Oakvale, Amphitheatre, Shearlegs Prospects
Scout Drilling Belah Prospect For personal use only Grid drilling trial area Oakvale Prospect Amphitheatre Prospect Shearlegs Prospect ASX Code: EFE 26 November 2008 …iron’s new horizon 08
Slide 9: Oakvale Prospect
All iron Kilometre-long intersections from surface Oakvale Prospect zones grading >20% Fe For personal use only ! Drilled with a cross section of 40m spaced holes, and a long section of holes on a nominal 250m spacing over more than 90% of the identified target length ! Prospect is at least 3000m lo
Slide 10: Shearlegs Prospect
Shearlegs Prospect All iron Kilometre long intersections from zones grading surface >20% Fe For personal use only Intersection grading >30% Fe ! Drilled with a cross section of 80m spaced holes, and a long section of holes on a nominal 250m spacing over less than 25% of the identified target length
Slide 11: Amphitheatre Prospect
Amphitheatre Prospect Only a small percentage of potential target For personal use only kilometres have been drill tested Google Sketch Up by: ASX Code: EFE 26 November 2008 …iron’s new horizon 11
Slide 12: Metallurgy
Metallurgy The Good The Challenge For personal use only for 2009 The Bad The Ugly Relativly pure maghemite with an iron rich shell Minor included rock fragments and quartz But an iron rich shell Included rock fragments, silica, alumina etc But an iron rich shell ASX Code: EFE 26 November 2008 …iron’
Slide 13: Metallurgy Test Work - medium tonnage, beneficiated ore approaching DSO
Metallurgy Test Work - medium tonnage, beneficiated ore For personal use only approaching DSO The Good Great News LOI 1000 Al2O3 % Sample SiO2 % TiO2 % MgO % CaO % K2O % Mn % Fe % P% S% % 1 Head Grade 58.3 2 7.74 6.28 0.65 0.06 0.03 0.06 9 0.01 5 0.10 0.45 0 NA Surface sample gravity test work ASX C
Slide 14: Metallurgy Test Work - High tonnage, low cost blend feed
Metallurgy Test Work - High tonnage, low cost blend feed For personal use only The Bad LOI 1000 Al2O3 % Sample SiO2 % TiO2 % MgO % CaO % K2O % Ca Fe Mn % Fe % P% S% % 1 Head Grade 50.9 1 51.95 13.4 7 9.18 0.69 0.05 <0.0 1 0.07 2 0.01 2 0.15 0.97 2 2.00 2 Mag 1 55.1 7 56.06 10.2 6 7.21 0.68 0.06 <0.0
Slide 15: Metallurgy Test Work - High tonnage crush and beneficiation feed
Metallurgy Test Work - High tonnage crush and beneficiation feed For personal use only The Ugly LOI 1000 Al2O3 % Sample SiO2 % TiO2 % MgO % CaO % K2O % Ca Fe Mn % Fe % P% S% % 1 Head Grade 50.9 1 51.95 13.4 7 9.18 0.69 0.05 <0.0 1 0.07 2 0.01 2 0.15 0.97 2 2.00 2 Mag 1 55.1 7 56.06 10.2 6 7.21 0.68
Slide 16: Eastern Iron = low cost mining and simple processing
Eastern Iron = low cost mining and simple processing For personal use only 55% Fe 50% Fe 55+% Fe? Direct shipping of highest grades Onsite, near site or offsite gravity beneficiation to higher iron grades 1) DSO Potential 2) Sinter blend feed 3) Pellet or pig iron plant feed Long term supply options
Slide 17: Market Conditions
Market Conditions For personal use only Australian Contract Price vs Fe Spot Price Pattern drill trial and 5 tonne sample for Eastern Iron lists PlatSearch NL forms Beneficiation trials Eastern Iron subsidiary ASX Code: EFE Scout Drilling PlatSearch NL applys for IPO Preparation CID Prospective lice
Slide 18: IRON Production - Where is it headed?
IRON Production - Where is it headed? U.S. GEOLOGICAL SURVEY STATISTICS Asian and middle class For personal use only Affluence (Sustained Growth) All values in metric tons (t) iron ore. Data current to 15 Nov 2007. Supply and infrastructure 1987 “Crash” (Slide) constraints (Spike) Oil Shock (Slide)
Slide 19: IRON Unit Value - is there still a dollar in it?
IRON Unit Value - is there still a dollar in it? For personal use only U.S. GEOLOGICAL SURVEY STATISTICS Asian and middle class All values in metric tonnes iron ore. Data current Affluence (Sustained Growth) to 15 Nov 2007. Unit value corrected and normalised to 1998 $US ? American and Japanese Affl
Slide 20: Non BHP or RIO IRON Resources
Non BHP or RIO IRON Resources Iron Ore Producers & Near Term Producers Company Flag Share Price Mcap Cash Debt Enterprise Project Hematite Av. Resource Grade Magnetite Magnetite 20/11/12 Diluted Value Status Resources Fe SiO2 Al2O3 P Project Resources Fe For personal use only (A$) (A$m) (A$m) (A$m)
Slide 21: Response to Global Credit Crisis
Response to Global Credit Crisis For personal use only • “Cash burn” will be minimised during uncertain market conditions. However, with continued encouraging results “value additions” to iron projects will not be compromised • Strategic opportunities for Cobar and Mainline Projects and for Eastern
Slide 22: The Eastern Dragon
The Eastern Dragon For personal use only Thick Skinned Innovative Aggressive Opportunistic Adept at surviving adverse environments Profits when conditions improve Is always “looking up” A “Small” dragon But a DRAGON ASX Code: EFE 26 November 2008 …iron’s new horizon 22
Slide 23: For personal use only
For personal use only ASX Code: EFE 26 November 2008 …iron’s new horizon 23
Slide 24: Disclaimer
DISCLAIMER This release may include forward-looking statements. These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, For personal use only uncertainties and other factors, many of wh
Slide 25: A New Sunrise
For personal use only …A New Sunrise Suite 3, Level 1, 80 Chandos Street St Leonards, NSW 2065, Australia PO Box 956, Crows Nest, NSW 1585 Ph: 02 9906 7551 Fax: 02 9906 5233 www.easterniron.com.au ASX Code: EFE 26 November 2008 …iron’s new horizon 25