Image Resources Nl · ASX:IMA
Image Resources Nl — Morgan Stanley Market & Project Briefing (June 2020)
18 slides from Image Resources Nl's conference presentation, Jun 24, 2020
Slide 1: Australia's newest mineral sands miner
For personal use only Australia’s newest mineral sands miner Emerging mid-tier prospect Boonanarring Mineral Sands Project Morgan Stanley Market & Project Briefing 24 June 2020 Patrick Mutz Managing Director Image Resources NL ASX: IMA 1
Slide 2: Disclaimer and Forward Looking Statements
Disclaimer and Forward Looking Statements For personal use only 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
Slide 3: Image Resources
Image Resources For personal use only Mineral Sand Markets Overview of recent trends Boonanarring Project A uniquely rich and valuable mineral sands project Operational Performance Demonstrating a solid track record of operational performance Growth Exciting exploration upside and an enviable portfo
Slide 4: Mineral Sand Markets – Zircon
Mineral Sand Markets – Zircon ➢ Chinese zircon demand softened during late 19 & 1H’20 as the COVID-19 pandemic impacted For personal use only downstream demand and international exports. ➢ Global supply side disruptions have provided some stability to pricing. ➢ Chinese domestic zircon stocks now lo
Slide 5: Mineral Sand Markets – TiO2
Mineral Sand Markets – TiO2 For personal use only ➢ TiO2 markets showing strength and stability. ➢ Ilmenite markets buoyed by limited global supply exacerbated by Chinese domestic mine suspensions and strong operating rates at sulfate pigment plants and relatively low inventory levels ➢ Rutile marke
Slide 6: Boonanarring Project – Uniquely Rich Deposit
Boonanarring Project – Uniquely Rich Deposit For personal use only Grade Revenue Split ➢ 8.9% HM and 27.5% zircon in HM 19% TiO2 Assemblage ➢ 81% of revenue derived from zircon 81% ZrO2 Coarse Grained Mineralisation ➢ D50 ~180 microns High Metallurgical Recoveries Metallurgical Recoveries 98% 90% ➢
Slide 7: Boonanarring Project – Simple Business Model
Boonanarring Project – Simple Business Model For personal use only Mining Dry open pit mine utilising a truck and shovel fleet. Processing 3.7Mtpa conventional wet concentrate plant to produce a high-quality HMC. Trucking HMC trucked to Bunbury. Shipping HMC shipped in bulk to China. 7
Slide 8: Operational Performance – Track Record
Operational Performance – Track Record For personal use only Excellent track record of operational delivery Wet Concentrate Plant Ore Processed (kt) ➢ Project commissioned in Dec-18. 985 874 863 784 ➢ MarQ 2020 production set quarterly 664 record for both tonnes of ore processed and HMC produced. ➢
Slide 9: Operational Performance – Cost Control
Operational Performance – Cost Control For personal use only Demonstrating cost discipline ➢ Improved operating rates and expected ore grade are supporting high HMC production rates which in conjunction with continued cost discipline are reflected in falling unit costs. Unit Cash Costs (A$/t HMC Pro
Slide 10: Operational Performance – Guidance & Forecasts
Operational Performance – Guidance & Forecasts For personal use only Item Units 2019 2020 2021 Results Guidance Forecast HMC Produced DMT 000s 270 300-330 300-330 HMC Sold DMT 000s 238 300-330 300-330 Project Operating Costs A$m 73 100-110 90-100 C1 Cash Costs per tonne HMC sold A$/DMT 327 290-320 2
Slide 11: Growth – Our Portfolio
Growth – Our Portfolio For personal use only Established resources in the North Perth Basin ➢ Dry Mining Mineral Resources of 93Mt; 6.3% HM and 17% Zircon+Rutile in the HM ➢ Dredge Mining Mineral Resources of 236Mt; 2.1% HM and 11.5% Zircon+Rutile in the HM JORC Mineral Resources 12% Regans Ford Dry
Slide 12: Growth – Our Project Pipeline
Growth – Our Project Pipeline For personal use only Image has an enviable portfolio of development projects Exploration Early Stage Advanced Production Boonanarring Project MORE Boonanarring Area Gingin N / South Dry Mining Central Red Gully Area Regans Ford Northern Atlas Area Cooljarloo Dredge Min
Slide 13: Growth – Project MORE
Growth – Project MORE For personal use only Northern MORE Ore Reserves – internally high profile, Extension interdisciplinary program to rapidly add mine life Northwest Area at Boonanarring. Extension Area ➢ Rigorous target identification ➢ Systematic overview of potential targets within extensive e
Slide 14: Q & A Session
For personal use only Q & A Session Morgan Stanley Market and Project Briefing 24 June 2020 Patrick Mutz Managing Director Image Resources NL ASX: IMA 14
Slide 15: Ore Reserves
Ore Reserves For personal use only HIGH-QUALITY ORE RESERVES (Updated Dec 2019) ➢ JORC Code (2012) Compliant ➢ High HM, VHM and very high zircon at Boonanarring Ore Reserves - Strand Deposits; in accordance with the JORC Code (2012) Project/Deposit Category Tonnes % HM % Slimes HM Tonnes VHM Ilmenit
Slide 16: Mineral Resources
Mineral Resources For personal use only Mineral Resources - Strand Deposits; in accordance with the JORC Code (2012) @ 2.0% HM Cut-off Mineral Resources - Dredge deposits; in accordance with JORC Code (2012) @ 1.0% HM Cut-off Project/Deposit Category Volume Tonnes % HM % Slimes HM Tonnes VHM Ilmenit
Slide 17: Corporate Snapshot
Corporate Snapshot For personal use only Diverse and Experienced Board and Management ASX Code: IMA Board of Directors Share Price: A$0.15* Bob Besley – Independent Chairman 12-Month Price Range: A$0.12-0.31 Patrick Mutz – Managing Director Shares on Issue: 981m Chaodian Chen - Non-Executive Directo
Slide 18: For further information
For further information For personal use only Patrick Mutz Managing Director Image Resources NL info@imageres.com.au Office: +61 8 9485 2410 Ground Floor, 23 Ventnor Avenue West Perth, WA 6005 PO Box 469, West Perth, WA 6872 www.imageres.com.au 18
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