Igo Limited · ASX:IGO
Igo — Independence Group NL — Shareholder Meeting (November 2011)
51 slides from Igo's shareholder meeting presentation, Nov 23, 2011
Slide 1: Independence Group – Annual General Meeting
For personal use only INDEPENDENCE GROUP VALUE THROUGH DISCOVERY AND DEVELOPMENT Annual General Meeting 23rd November 2011 Chris Bonwick – Managing Director 1
Slide 2: Disclaimer
For personal use only Disclaimer Certain oral and written statements contained or incorporated by reference in this presentation, including information as to the future financial or operating performance of the Company and its projects, constitute forward-looking statements. All statement, other tha
Slide 3: Independence Group Overview - Corporate
For personal use only Independence Group Overview - Corporate Capital Structure: ASX 200 Code : IGO 202.9M shares Market Cap. (18/11/11) : A$950M Substantial shareholders: JCP : 11.8M shares (Nov 2011) Aus Inst : 59.5%, OS Inst : 11.2% 62 Institutions in top 100 Financials: 2010/11 Profit: A$5.5M Ca
Slide 4: Independence Group Overview – Assets
Independence Group Overview – Assets Multiple growth opportunities For personal use only LONG NICKEL 2010/11 Cash Costs: OPERATION with royalty A$4.48/lb Ni 2010/11 Revenue: A$10.35/lb Ni In Production Jun 11 Resources: 1.57Mt @ 5.3% Ni (83,000t Ni ) Jun 11 Reserves: 1.61Mt @ 3.6% Ni (58,100t Ni ) J
Slide 5: Independence History and Share Price
Independence History and Share Price Five ore bodies discovered to date For personal use only Weekly Average Share Price to 18.11.11 5
Slide 6: Mines, Development and Advanced Exploration Projects
Independence Group NL – Mines, Development and Advanced Exploration Projects For personal use only 6
Slide 7: Tropicana JV (IGO 30%)
Tropicana JV (IGO 30%) Gold Production 2013 DEVELOPMENT IN PROGRESS For personal use only A New Australian Gold Province AngloGold Ashanti – 70% (Manager & Operator) Independence Group NL – 30% Tropicana JV 1000kms “New Gold Province under sand” 7
Slide 8: Tropicana JV – Significant Discoveries To Date
Tropicana JV (IGO 30%) Significant Discoveries To Date Numerous gold anomalies and potential for other gold discoveries For personal use only * * Reference – AGA 27/7/11 ASX Release for Resource and Reserve Estimates 8
Slide 9: Tropicana JV June 2011 Resources & Reserves
Tropicana JV June 2011 Resources & Reserves 100% PROJECT For personal use only June 2011 Mineral Resource: 78.6Mt @ 2.1g/t Au = 5.36Moz (A$1,400/oz) June 2011 Open Pit Reserve: 56.4Mt @ 2.2g/t Au = 3.91Moz (A$1,210/oz) Reference – AGA 27/7/11 ASX Release for Resource and Reserve Estimates 9
Slide 10: Tropicana JV – Bankable Feasibility Study
Tropicana JV – Bankable Feasibility Study & June 2011 Reserve Upate (100% Project) BFS Open Pit Reserves: Tropicana, Havana, Havana South For personal use only 48Mt at 2.2 g/t Au – 3.4Moz* Reference – IGO 11/11/10 ASX Release (*$US880oz Au, A$1,100 oz Au, AUD : USD 0:80, A$85/bbl oil, 0.7 g/t Au for
Slide 11: Tropicana JV – Proposed Site Layout
Tropicana JV – Proposed Site Layout For personal use only 11
Slide 12: Tropicana JV – Proposed Plant Layout
Tropicana JV – Proposed Plant Layout For personal use only 12
Slide 13: Tropicana JV BFS Outcome (100% Project)
Tropicana JV BFS Outcome (100% Project) For personal use only Plant & Equipment A$590-A$620M Real Capital: Working Capital A$100-A$120M Real A$690-A$740M Payback: 2.2 years (A$1,300/oz Au, US$85/bbl oil, AUD:USD 1:00) Road Construction: Commenced June 2011 Quarter Anticipated First Gold: 2013 Second
Slide 14: Boston Shaker and Swizzler Significant intercepts
Tropicana JV - Boston Shaker and Swizzler Significant intercepts Proposed Boston Shaker, Tropicana and Havana Open Pit Outlines, g/t Au x Thickness (m) For personal use only Contours, Significant Drill Intercepts and Location of the Swizzler and Swizzler Deeps Prospects 14
Slide 15: Havana Deeps
Tropicana JV (AngloGold Ashanti 70% / IGO 30%) Havana Deeps Havana Deeps is not included in current Reserves or BFS For personal use only Reference – IGO 31/12/10 ASX Quarterly Report for Havana Deeps Underground Resource Estimate 15
Slide 16: Havana Deeps Intercepts
Tropicana JV Havana Deeps Intercepts Havana Deeps is not included in BFS For personal use only Reference – IGO 31/12/10 ASX Quarterly Report for Havana Deeps Underground Resource Estimate 16
Slide 17: Havana Deeps Cross-section
Tropicana JV Havana Deeps Cross-section For personal use only 17
Slide 18: Tropicana JV – Construction commenced
Tropicana JV Construction commenced For personal use only 220km of new road from Pinjin to Tropicana Photo of truck on newly completed Aerial photo of new road and old track section to Tropicana 18
Slide 19: Tropicana Fly Through
For personal use only Tropicana Fly Through 19
Slide 20: Long Nickel Mine (IGO 100%)
For personal use only Long Nickel Mine (IGO 100%) 2002 Purchase price = A$15M Update 27% Ore Reserve increase to 58,100 Ni t. Continued exploration and production development. Exploration success at Long North and Moran. 1979-1999 WMC Production: 203,184t Ni 2002-Sep Qtr 2011 IGO Production: 75,861t
Slide 21: Long Nickel Mine – History and Goals
Long Nickel Mine (IGO 100%) Moran, McLeay and Long For personal use only nickel ore bodies yet to be closed off HISTORY • IGO Starting Reserve = 26,800 Ni t • IGO Production to Sep 11 = 75,861 Ni t • June 2011 Resource = 83,000 Ni t • June 2011 Reserves = 58,100 Ni t GOALS • Sustainable 9,000t Ni pa
Slide 22: Quarterly Cash Costs and Revenue
Quarterly Cash Costs and Revenue History of high operating margins and consistent low cash costs For personal use only Revenue A$/lb Ni (includes hedging) Payable Cash Costs A$/lb Ni 22
Slide 23: Long Production Forecast and Hedging
Long Production Forecast and Hedging History of exceeding production guidance For personal use only 2010/11 2010/11 Guidance Actual • Production 8,800 - 9,200 Ni t 9,753 Ni t • Grade 4.1% Ni 4.3% Ni • Cash Costs (payable) + royalty A$4.40 - 4.60/lb Ni A$4.48/lb Ni 2011/12 Guidance • Production 8,800
Slide 24: Mine Geophysics - TEM Equipment
Mine Geophysics - TEM Equipment Innovative research and development For personal use only High powered TEM Underground transmitter Down hole TEM **Exclusive to IGO** surveying • 10 x more powerful than current systems. • More accurate drill • Doubles search radius Down hole TEM probe targeting, redu
Slide 25: Long Mine Nickel Deposits and Targets
Long Mine Nickel Deposits and Targets Longitudinal Projection Largest Reserve since IGO reopened the mine (mine life extended to at least 2017) For personal use only Reference – IGO 20/10/11 Annual Report ASX Release for Resource and Resource Estimates 25
Slide 26: Long Mine Fly Through
For personal use only Long Mine Fly Through 26
Slide 27: Jaguar / Bentley Operation (IGO 100%)
Jaguar / Bentley Operation (IGO 100%) VMS Corridor Walk-up Geophysical and Drilling Targets Aeromagnetic Image For personal use only Jaguar / Bentley September 2011 Reserves: 3.28M t @ 1.7% Cu, 7.4% Zn, 93g/t Ag, 0.5g/t Au Reference – IGO 20/10/11 ASX Release for Reserve Estimate Jaguar Mill 27
Slide 28: Jaguar / Bentley Operation Production
For personal use only Jaguar / Bentley Operation Production • 2010/11 Guidance 8,100 - 8,550 Cu t, 13,500 - 14,250 Zn t • 2010/11 Actual Production 8,468 Cu t, 14,642 Zn t 2.8% Cu, 5.8% Zn, 80g/t Ag • Zn C1 Cash Costs (after Cu-Ag credits) A$-0.31/lb Zn • 2011/12 Guidance 8,500 - 9,500 Cu t, 15,500
Slide 29: Jaguar Deposit (IGO 100%)
Jaguar Deposit (IGO 100%) June 2011 Resource: 0.86M t @ 2.7% Cu, 4.6% Zn, 66g/t Ag For personal use only Reserve: 0.82M t @ 2.4% Cu, 3.9% Zn, 56g/t Ag Reference – IGO 20/10/11 Annual Report ASX Release for Resource & Reserve Estimate 29
Slide 30: Bentley Deposit (IGO 100%)
Bentley Deposit (IGO 100%) June 2011 Resource: 3.0M t @ 2.0% Cu, 9.8% Zn, 139g/t Ag, 0.7g/t Au For personal use only Reserve: 2.45M t @ 1.5% Cu, 8.6% Zn, 1.6g/t Ag, 0.5g/t Au Level of Current Development Reserves Yet to be drilled out to be Reserve Status Open down-plunge Reference – IGO 20/10/11 An
Slide 31: Jaguar/Bentley Operation Potential
Jaguar/Bentley Operation Potential (IGO 100%) Volcanic Massive Sulphide (VMS) Discovery History & Mineralisation Scale For personal use only Bentley Resource Golden Grove Gossan Hill discovery history Outline ? ? ? 31
Slide 32: Jaguar Project (IGO 100%)
Jaguar Project (IGO 100%) VMS Corridor Walk-up Geophysical and Drilling Targets Under explored 50km long prospective For personal use only Cu-Zn-Ag VMS corridor. Prospectivity around existing mines. Other strong Cu-Zn-Ag alteration anomalies. Gold and Nickel potential. Visible gold in Bentley drill
Slide 33: Stockman Project (IGO 100%)
Stockman Project (IGO 100%) Mines and Prospects Wilga and Currawong Cu-Zn-Ag Deposits For personal use only discovered by WMC in 1978/9. Jun 2011 Total Indicated + Inferred Resources *: 12.5M t @ 2.1% Cu, 4.4% Zn, 38g/t Ag, 0.9g/t Au *Reference – IGO 20/10/11 Annual Report ASX Release for Resource E
Slide 34: Stockman Project – Currawong Deposit
Stockman Project Currawong Deposit Planned Development For personal use only June 2011 Resource: 9.45M t @ 2.0% Cu, 4.2% Zn, 0.8% Pb, 42g/t Ag, 1.2g/t Au Open down-plunge 34 Reference – IGO 20/10/11 Annual Report ASX Release for Resource Estimate
Slide 35: Stockman Project – Wilga Deposit
Stockman Project Wilga Deposit Planned Development For personal use only June 2011 Resource: 3.33M t @ 2.4% Cu, 4.4% Zn, 0.7% Pb, 38g/t Ag, 0.9g/t Au Open down-plunge Reference – IGO 20/10/11 Annual Report ASX Release for Resource Estimate 35
Slide 36: Karlawinda Gold Project – Bibra Prospect
Karlawinda Gold Project (IGO 100%) Bibra Prospect Gram x Metre Contours For personal use only *Reference – IGO 31/3/11 ASX Quarterly Report for Resource Estimate 36
Slide 37: Karlawinda Gold Project – Bibra Cross-section
Karlawinda Gold Project (IGO 100%) Bibra Prospect Cross-section Maiden Resource 219,900 oz Au For personal use only Reference – IGO 31/3/11 ASX Quarterly Report for Resource estimate 37
Slide 38: Duketon JV – Rosie Prospect
Duketon JV – Rosie Prospect Massive Nickel Sulphides (IGO earning 70%) For personal use only Rosie Prospect massive nickel sulphides assaying: 5.2m @ 9.1% Ni, 1.1% Cu, 0.2% Co, 7.1g/t PGE’s (2.2g/t Pt, 1.7g/t Pd, 1.8g/t Ru & 0.8g/t Rh) 38
Slide 39: Duketon JV – Rosie Longitudinal Projection
Duketon JV – Rosie Prospect Longitudinal Projection For personal use only 39
Slide 40: Project Generation – De Beers Database
Project Generation De Beers Database (IGO 100%) No buy-back or royalties on future mineral discoveries For personal use only Long term exploration asset to find new Australian mineral camps. 293,000 geochemical samples collected. 2,278 samples reporting visible gold. 2,025 geophysical surveys. IGO a
Slide 41: De Beers Database Storage Warehouse
De Beers Database Storage Warehouse Preparing geochemical samples for analysis For personal use only 41
Slide 42: Asset Pipeline and Organic Growth Profile
Asset Pipeline and Organic Growth Profile Combination of low cost cash flows from current operating mines with For personal use only significant long-life development projects and highly prospective exploration Highly complimentary management and technical capabilities, with proven successful track
Slide 43: Independence Contact Details
For personal use only Independence Contact Details Perth Office Managing Director – Chris Bonwick Suite 4, Level 5 South Shore Centre 85 South Perth Esplanade South Perth, Western Australia 6151 Postal: PO Box 496, South Perth Western Australia 6951 Telephone: +61 8 9238 8300 Facsimile: +61 8 9238 8
Slide 44: Appendix – Resource Statements
Independence Group NL For personal use only APPENDIX RESOURCE STATEMENTS 44
Slide 45: Long Nickel Mine – June 2011 Resources and Reserves
Long Nickel Mine (IGO 100%) June 2011 Resources and Reserves RESOURCES MINING RESERVE For personal use only Undiluted at 1% Ni Cut-off 1, 2 as at 30 June 2011 as at 30 June 2011 Tonnes Ni % Ni Tonnes Tonnes Ni % Ni Tonnes LONG Measured 26,000 5.6 1,500 LONG Proven Indicated 210,000 4.8 10,100 Probab
Slide 46: Tropicana JV – June 2011 Interim Resources and Reserves
Tropicana JV (AngloGold Ashanti 70% / IGO 30%) June 2011 Interim Resources and Reserves For personal use only June 2011 June 2011 Project Resources Project Reserves Tonnes Grade Contained Tonnes Grade Contained (Mt) (g/t) 1 Gold (Mt) (g/t) 3 Gold 2 4 (Moz) (Moz) Measured 28.4 2.2 1.97 Proved 25.8 2.
Slide 47: Jaguar/Bentley Mineral Resource – June 2011
Jaguar Project Jaguar/Bentley Mineral Resource – June 2011 For personal use only 2.0 Reference: IGO Annual Report 2011 ASX release dated 20 October 2011 47
Slide 48: Jaguar/Bentley Project Reserve – June 2011
Jaguar/Bentley Project Reserve– 30 June 2011 For personal use only Reference: IGO Annual Report 2011 ASX release dated 20 October 2011 48
Slide 49: Stockman Resource Estimate – June 2011
Stockman Resource Estimate – June 2011 For personal use only Stockman Classification Tonnes Cu % Zn % Pb % Ag g/t Au g/t Currawong Indicated 9,130,000 2.0 4.2 0.8 42 1.2 Currawong Inferred 305,000 1.4 4.1 0.6 34 0.5 Total Indicated + Inferred 9,435,000 2.0 4.2 0.8 42 1.2 Wilga Indicated 2,368,000 2.
Slide 50: Karlawinda Gold Project – Bibra Deposit Maiden Resource
Karlawinda Gold Project – Bibra Deposit Maiden Resource March 2011 For personal use only Tonnes Au Grade Contained Au Mineralisation Type (Mt) (g/t) (oz) Laterite 1.9 1.2 73,300 Upper Saprolite 0.8 1.1 28,300 Lower Saprolite 1.6 1.1 56,600 Sub-total Oxide Inferred 4.3 1.1 158,200 Transition Inferred
Slide 51: Competent Person Statements
For personal use only Competent Person Statements Note: The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Christopher M Bonwick who is a full-time employee of the Company and is a member of the Australas
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