Image Resources Nl · ASX:IMA
Image Resources Nl — Investor Presentation (February 2013)
29 slides from Image Resources Nl's investor presentation, Feb 12, 2013
Slide 1: Progressing Towards Heavy Mineral Sands Production
PROGRESSING TOWARDS HEAVY MINERAL SANDS PRODUCTION For personal use only ASX : IMA www.imageres.com.au 1
Slide 2: Competent Person Statement
For personal use only COMPETENT PERSON STATEMENT COMPETENT PERSON’S STATEMENT – EXPLORATION RESULTS The information in this presentation is based on information compiled by Paul Leandri BAppSc who is a member of the Australasian Institute of Mining and Metallurgy. Paul Leandri is an employee of Imag
Slide 3: Forward Looking Statement
For personal use only FORWARD LOOKING STATEMENT FORWARD LOOKING STATEMENTS • Certain statements made during or in connection with this communication, including, without limitation, those concerning the economic outlook for the mining industry, expectations regarding prices, exploration or developmen
Slide 4: Corporate Summary
For personal use only CORPORATE SUMMARY Current Cash at Bank $6.8M (at 01/01/2013) Capital Structure Board and Management Peter Thomas Chairman Market Cap $23M Shares 140.2M Peter Davies Managing Director/ Options 8.8M Project Manager (held by Directors all well above current George Technical Direct
Slide 5: Clear Vision and Strategy
For personal use only CLEAR VISION AND STRATEGY Image has several competitive advantages: • World class assets and location • A strong management/project team, with extensive mineral sands experience • A clear planned path to production • Low barrier to entry • Proven exploration expertise at extrem
Slide 6: Short Term Production in a World Class Location
For personal use only SHORT TERM PRODUCTION IN A WORLD CLASS LOCATION Advantages of the North Perth Basin Project: • First production scheduled for 2014 • Low sovereign risk • High grade resources • Majority of resources are on cleared freehold farm land • Excellent existing infrastructure • Existin
Slide 7: Potential for Extensions and New Discoveries
For personal use only POTENTIAL FOR EXTENSIONS AND NEW DISCOVERIES Existing North Perth Basin Project JORC Resources • Helene • Hyperion • Atlas and Atlas South (part MLA) • Red Gully (existing ML) • Boonanarring (existing ML / MLA) • Gingin North (existing ML) • Gingin South (existing ML - part) Lo
Slide 8: North Perth Basin Resources
For personal use only NORTH PERTH BASIN RESOURCES Current Resources and Exploration Atlas + Atlas Boonanarring Other NPB Total South JORC Mt 10.7 10.5 31.7 52.9 Resources Target Mining Mt 12 20 28 >60 Inventory BASE CASE Mt 9.6 20 26.3 Average HM % % 8.1 9.5 8 8.5 Zircon % in % 11.0 17.5 11 13.2 HM
Slide 9: Boonanarring
For personal use only BOONANARRING • JORC resource over 4.6km strike length of 10.5Mt @ 7.0%HM containing 740kt HM, all Measured or Indicated (Refer to table of resources on pages 23-24 for full details) • East Strand on Block B contains 3.8Mt @9.5% HM with 21.1% of HM as Zircon (includes higher gra
Slide 10: Perspective View of Block B Strands
For personal use only PERSPECTIVE VIEW OF BLOCK B STRANDS HM ZIRCON 10
Slide 11: Cleared Farmland
For personal use only CLEARED FARMLAND Land access negotiations progressing well 11
Slide 12: High Quality Products Commanding Premium Pricing
For personal use only HIGH QUALITY PRODUCTS COMMANDING PREMIUM PRICING Boonanarring Ilmenite quality is very attractive to a wide range of customers: • 54.5% and 60% TiO2 (range of world deposits is between 40% and 63% TiO2) • Coarse Grained (D50 150 – 200 micron) • Low U+Th (70 – 120 ppm) • Low CaO
Slide 13: Path to Production
For personal use only PATH TO PRODUCTION • First production scheduled for late 2014 • Planned 3.3Mtpa single mine and Wet Plant operation • Initial production of HMC at Boonanarring planned for toll treatment or sale • Second mine and Wet Plant planned for Atlas in 2018 • Construction of Dry Mill to
Slide 14: Project Development Strategy
For personal use only PROJECT DEVELOPMENT STRATEGY Short estimated lead time to full production 14
Slide 15: Recent Achievements
For personal use only RECENT ACHIEVMENTS • MLA for the main mineralisation at Boonanarring lodged in December 2012 • Process testwork completed on separate bulk samples from Boonanarring and in progress for Atlas • High quality products confirmed • Product samples for testing by customers ready for
Slide 16: Milestones
For personal use only MILESTONES • Resource upgrades at Boonanarring anticipated in February (Block C) & March (Blocks A, D, and E) 2013 • Next update on project financial analysis based on JORC resources: target March 2013 • Feedback on product samples from customers and commencement of off-take di
Slide 17: Upside Potential
For personal use only UPSIDE POTENTIAL NPB Project • Potential for extension to known resources (Atlas, Rhea, Red Gully, Boonanarring and Gingin South/Chandala) • Potential for other major new finds south of Atlas (20Mt potential) Other Projects • Divest Eucla Basin assets • Large lower grade target
Slide 18: Clear Vision and Strategy
For personal use only CLEAR VISION AND STRATEGY Image has several competitive advantages: • World class assets and location • A strong management/project team, with extensive mineral sands experience • A clear planned path to production • Low barrier to entry • Proven exploration expertise at extrem
Slide 19: Back-Up Slides
For personal use only BACK-UP SLIDES 19
Slide 20: Production Schematic
For personal use only PRODUCTION SCHEMATIC 20
Slide 21: Uses of Ilmenite
For personal use only USES OF ILMENITE 21
Slide 22: Mining Schematic
For personal use only MINING SCHEMATIC 22
Slide 23: NPB Detailed Resource Statement
For personal use only NPB DETAILED RESOURCE STATEMENT High Grade Resources Resource Resource BCM TONNES % HM % SLIMES HM TONNES VHM Ilmenite Leucoxene Rutile Zircon Category (%) (%) (%) (%) (%) Atlas Indicated 520,000 1,080,000 3.2 19.2 34,000 74 53 8 7 6 Atlas Measured 4,810,000 9,700,000 8.5 15.3
Slide 24: NPB Detailed Resource Statement (Cont)
For personal use only NPB DETAILED RESOURCE STATEMENT (CONT) High Grade Resources Helene Indicated 5,600,000 11,500,000 4.6 18.6 523,000 84 70 1 3 11 Hyperion Indicated 1,800,000 3,700,000 7.8 19.3 290,000 71 56 0 6 9 Red Gully Indicated 1,930,000 3,410,000 7.8 11.5 267,000 90 66 8 3 12 Red Gully In
Slide 25: The Team
For personal use only THE TEAM Peter Davies – Image Managing Director/Project Manager Peter Davies, appointed as Managing Director in May 2012, is a mining engineer with 39 years of global experience in project evaluation and management of mining, chemicals and mineral sands operations. From 1995 to
Slide 26: The Team
For personal use only THE TEAM Paul Leandri – Image Exploration Manager Over 25 years experience in mining and exploration geology, including 8 years working for RGC Mineral Sands consisting of 5 years mine planning at Capel operations and 3 years exploration around Eneabba and the Murray Basin. Pas
Slide 27: The Team
For personal use only THE TEAM Eugene Dardengo – Processing Manager Eugene is an accomplished Metallurgist and Operations Manager with over 27 years’ experience in the Australian mining and mineral industry. Eugene has held a number of other diverse roles and was held accountable for Logistics Servi
Slide 28: The Team
For personal use only THE TEAM Peter McSweeney - MSP Engineering Peter has over 25 years experience in delivering industrial minerals projects throughout Australia and overseas. He has been the Managing Director of MSP Engineering for the past 16 years and during this period the company has delivere
Slide 29: Atlas
For personal use only ATLAS • JORC resource of 10.7Mt @ 7.8%HM containing 0.84Mt HM, all Measured and Indicated • High value mineral assemblage; 53.4% Ilmenite, 5.3% Leucoxene, 7.8% Rutile, 10.6% Zircon • Low strip ratio 0.8:1 • Atlas South Extension drilled • Mining Lease Application in progress Sh
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