Strike Resources Limited · ASX:SRK
Strike Resources — Shareholder Meeting (November 2010)
24 slides from Strike Resources's shareholder meeting presentation, Nov 25, 2010
Slide 1: Annual General Meeting
For personal use only Annual General Meeting Perth November 25, 2010
Slide 2: Meeting Overview
Meeting Overview For personal use only Chairman: Shanker Madan Managing Director: Ken Hellsten Directors: Farooq Khan William Johnson Malcolm Richmond A. Farhad Moshiri Mark Horn (Alternate Director for Mr Moshiri) Matthew Hammond Company Secretary: Stephen Gethin Notice of AGM: 15 October 2010 Prox
Slide 3: Agenda
For personal use only Agenda • Managing Director’s Overview & Presentation • Questions for the Managing Director • Financial and Director’s Reports • Questions for the Auditor • Resolutions 1 – 4 3
Slide 4: Managing Director's Presentation
For personal use only Managing Director’s Presentation
Slide 5: Apurimac Project - Highlights
Apurimac Project - Highlights For personal use only • 44% direct interest in concession owner (AF) • JORC resource of 269Mt @ Pictures here. 57.3% Fe* • Strong working relationship with major JV partner • High grade haematite with coarse, friable magnetite • Positive Initial Pre-feasibility Study Pi
Slide 6: Apurimac Concessions: Exploration Upside
Bouguer Gravity Opaban 1 Anomaly Apurimac Concessions: For personal use only Opaban 1 & 3: short term target of 300 – 350Mt* Opaban 3 Target mineralisation is based on • Undrilled gravity and magnetic anomalies Pictures here. • Both deposits open at depth • Broad mineralised zones • Skarn and hydrot
Slide 7: Opaban has Excellent Metallurgical Properties
Opaban has Excellent Metallurgical Properties For personal use only DTR Mass Recovery • Coarse particle liberation size (250 microns vs 30 – 40 microns) 60 -70% 80% • 60 - 70% mass recovery (vs 35 – 50%) 60% 39% 25% 30% Opaban Project 1 • Excellent productPictures grades here. with low 40% Project 2
Slide 8: Up-side Opportunities – Cobber LIMS Potential
Up-side Opportunities – Cobber LIMS Potential For personal use only • Initial testwork on high grade magnetite sample • Excellent mass recovery of 68% with product grade of 67% Fe • Low impurities and potential premium “sinter fines” product LIMS Mass Recovery - Opaban Opaban LIMS Impurity Rejection
Slide 9: Up-side Potential - Rope Conveyor System
Up-side Potential - Rope Conveyor System For personal use only • Option study completed • Up to 2km between support towers • Up to 20km per conveyor section • European designed and engineered • Facilitates lump/fines, coarse concentrate and ore transport options • Capex of $2.1B (Rail $3.0B) • Opex
Slide 10: Building Strong Community Relations in Peru
Building Strong Community Relations in For personal use only Peru • Community support is being fostered through long-term programs & building sustainable relationships of mutual trust and Pictures here. respect • Strong, experienced Community Relations team in place • Ongoing negotiations with commu
Slide 11: Berau Thermal Coal Project – highlights
Berau Thermal Coal Project – highlights • For personal use only Measured and Indicated Resource of 22.1Mt* • Reserves of 7.7Mt based on 10.4Mt of indicated resource • Haulage 30km to barge port • Capital Cost <US$20M (plus working capital) Pictures here. • Potential free cash flow of US$40M in the f
Slide 12: Berau Thermal Coal Project – partner status
Berau Thermal Coal Project – partner status For personal use only • Dialogue and negotiations over last 12 months regarding restructure of Cooperation Agreement • Extensive meetings during Pictures here. second half of 2010 • Numerous (generous) proposals offered to partner – all rejected • Proposal
Slide 13: Looking Back
Looking Back…….. For personal use only • Peru o AF Partner dispute settled and Peru team re-established o Excellent relations established with major AF partner – but more to do o Resource doubled at Opaban, more required o Community engagement achieved despite legacy issues o Drilling delays as comm
Slide 14: Moving Forward
Moving Forward For personal use only • Drilling at Colcabamba from December, 2010 • Cusco resource estimate in December, 2010 • Revised (realistic) plan and budget being prepared • Opaban drilling and PFS timing will driven by community approvals • Continue to strengthen partner and community relati
Slide 15: Formal Business
For personal use only Formal Business • 2010 Director’s Report and Audited Financial Statements • Resolutions 1. Re-Elect Shanker Madan as a Director 2. Re-Elect Malcolm Richmond as a Director 3. Approve Issue of Director’s Options to Ken Hellsten 4. Adopt Remuneration Report 15
Slide 16: Resolution: Re-Election of Shanker Madan
For personal use only Resolution 1 Re-Election of Shanker Madan Proxy For Against Abstain Open Totals Pictures here. Summary All Proxies 23,741,654 114,500 21,363 9,470,134 33,347,651 Received Chairman’s Proxies 6,976,963 114,500 21,363 9,467,134 16,579,960 Received Pictures here. 16
Slide 17: Resolution: Re-Election of Malcolm Richmond
For personal use only Resolution 2 Re-Election of Malcolm Richmond Proxy For Against Abstain Open Totals Pictures here. Summary All Proxies 23,781,654 69,500 21,363 9,475,134 33,347,651 Received Chairman’s Proxies 7,016,963 69,500 21,363 9,472,134 16,579,960 Received Pictures here. 17
Slide 18: Resolution: Approve Issue of Director's Options to Ken Hellsten
For personal use only Resolution 3 Approve Issue of Director’s Options to Ken Hellsten Proxy For Against Abstain Open Totals Pictures here. Summary All Proxies 20,523,530 3,337,624 14,363 9,472,134 33,347,651 Received Chairman’s Proxies 3,758,839 3,334,624 14,363 9,472,134 16,579,960 Received Pictur
Slide 19: Resolution: Adopt Remuneration Report
For personal use only Resolution 4 Adopt Remuneration Report Proxy For Against Abstain Open Totals Pictures here. Summary All Proxies 23,562,693 313,461 4,363 9,467,134 33,347,651 Received Chairman’s Proxies 6,798,002 310,461 4,363 9,467,134 16,579,960 Received Pictures here. 19
Slide 20: Thank you
For personal use only Strike Resources Limited ASX : SRK www.strikeresources.com.au Thank you
Slide 21: Appendix – Apurimac Project JORC Code Information
Appendix 1 – Apurimac Project JORC Code Information For personal use only The total Mineral Resource at the Opaban 1 and 3 concessions is 269.4 Mt, consisting of a 127.19 Mt Inferred Resource at Opaban 1 at 56.7% Fe (using a cut-off grade of 40% Fe) a 133.71 Mt Indicated Resource at Opaban 1 at 57.5
Slide 22: Appendix – Berau Project JORC Code Information
Appendix 2 – Berau Project JORC Code Information For personal use only The Coal Resource at the Berau Coal Project in East Kalimantan is 27.7 million tonnes (Mt). Of the 27.7 Mt JORC Resources, 11 Mt is in the Measured category, 11.1 Mt is in the Indicated category and 5.6 Mt is in the Inferred cate
Slide 23: Appendix (cont'd) – Berau Project JORC Code Information
Appendix 2 (cont’d) – Berau Project JORC Code Information For personal use only The Coal Resource in the Nyapa West block is estimated to be 14 Mt, comprising 1.8 Mt of Measured Resource, 8.6 Mt of Indicated Resource and 3.6 Mt of Inferred Resource. The Coal Resource in the Nyapa East block is estim
Slide 24: Appendix (cont'd) – Berau Project JORC Code Information
Appendix 2 (cont’d) – Berau Project JORC Code Information For personal use only Within the 14Mt Coal Resources in the Nyapa West block described above, 7.7 Mt of Probable Reserves have been estimated. Probable Calorific Value kcal/kg Total Sulphur (as Ash Total Reserves(Mt) (gross as received) recei
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