Eastern Resources Limited · ASX:EFE
Eastern Resources — Eastern Iron — Shareholder Meeting (November 2011)
21 slides from Eastern Resources's shareholder meeting presentation, Nov 23, 2011
Slide 1: Eastern Iron Limited Annual General Meeting November 2011
For personal use only Eastern Iron Limited Annual General Meeting November 2011
Slide 2: 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, uncertainties and other factors, many of which are outside the co
Slide 3: Investment Highlights
Investment Highlights: •Strong Board and management team: operational and For personal use only corporate skills in place • Growing asset portfolio and Iron resource base in highly prospective areas in NSW, VIC and QLD • Targeting 1-2Bt potential resource at advanced QLD projects • Investigating pot
Slide 4: 2010 – 2011 The year in summary
2010 – 2011 The year in summary • Sept 10: Completed exploratory drilling at Hawkwood For personal use only • October 10: Entered into agreement to acquire 100% of Eulogie Project • Nov 10: Completed preliminary metallurgical testwork for Hawkwood project •Jan 11: Completed Eulogie Sale Agreement •
Slide 5: Eastern Iron Corporate Summary
Eastern Iron Corporate Summary For personal use only Capital Structure • Tight capital structure • 67.8 million shares • $2.8 million cash • PlatSearch NL major shareholder (48.2%) • Share price: 14c •Top 20 hold 69% of issued shares
Slide 6: Board of Directors
Board of Directors Glenn Goodacre BA (Macquarie) Non-Executive Chairman Glenn Goodacre has a background as an investor in resources and the private equity industry having commenced investing in resources in the late 1960s and working in the industry in the 1980s. His experience encompasses the pre-f
Slide 7: NSW Pisolite Iron JV
NSW Pisolite Iron JV • Large resource of low grade iron pisolites in western NSW. Exploration target tonnage +5Bt For personal use only • Product easily mined from shallow free dig material then dry mag sep’n •Iron product 45-50% Fe and high in deleterious elements •JV: 3E Steel committed $1.9M. • F
Slide 8: Central Queensland Iron Project
CENTRAL QUEENSLAND IRON PROJECT For personal use only A unique opportunity of large iron resources in an area of established infrastructure • Hawkwood project (EFE earning 80%) • Eulogie Project (EFE 100%) • Auburn exploration permit (EFE 100%) AUBURN
Slide 9: Hawkwood Project
Hawkwood Project Eastern Iron earning 80% (JV with For personal use only Rugby Mining Ltd) 4 Exploration licenses totalling 345 km2 Work completed includes: •19 hole 1848m RC drilling program (2010) • Diamond drilling (2011) • Metallurgical testwork (2010) • Resource drilling program completed O
Slide 10: Hawkwood Drilling
Hawkwood Drilling For personal use only • Layered igneous complex with12 km zone of mineralisation • Multiple layers of magnetite bearing ferrigabbro up to 100m thick • Suitable for low strip open cut mining. • +500Mt exploration target
Slide 11: Metallurgical Testwork
Metallurgical Testwork For personal use only Davis Tube results indicate a high grade iron concentrate with low impurities 80% of TiO2 goes to tail with potential for ilmenite by product Fe% V2O5% TiO2 SiO2 Al2O3% P% S% DTR% 66.6 0.67 2.2 1.8 1.7 <.001 0.14 17
Slide 12: Eulogie Project
Eulogie Project • Magnetite bearing ferrigabbro •Acquired by Eastern in Jan 2011 and targeted For personal use only for early development due to favourable location and logistics. • Located 80km from Gladstone • Previous exploration in 1980’s: 30 drillholes (1222m) •Exploration target tonnage 500Mt-
Slide 13: Eulogie: Concept Study
Magnetic image For personal use only showing ferrigabbro units Eulogie: Concept Study Resource drilling (Sept 2011) 3369m RC drilling, JORC 465 Mt magnetite ore grading 14.2%Fe; only 35% of area tested by drilling. Transport Study (June 2011) Identified preferred ore transport options Met. Study; ME
Slide 14: Eulogie Project - Sighter Metallurgical Test Program
Eulogie Project - Sighter Metallurgical Test Program For personal use only Results: • Magnetic separation produces saleable product (table below) • Lower Fe and higher TiO2 than Hawkwood • Coarse grind size (150 micron) produces acceptable product Grind Size Wt % Fe % SiO2 % Al2O3 % TiO2 % P% V% S%
Slide 15: Eulogie and Hawkwood Projects
Eulogie and Hawkwood Projects Local infrastructure supports rapid potential For personal use only development Eulogie: Transport options include: Option 1 – 50km road to Blackwater rail line 140km to Port. Option 2 – 50km road to Moura rail line 100km to Port Option 3 - 80km haul road to Port •Possi
Slide 16: Central Queensland Transport Infrastructure
CENTRAL QUEENSLAND TRANSPORT INFRASTRUCTURE For personal use only Moura rail line Blackwater rail line RG Tanna coal loader Auckland Point Barney Point
Slide 17: Nowa Nowa Iron Project
NOWA NOWA IRON PROJECT • First stage of new corporate strategy to focus on low capex high grade DSO projects serviced by existing infrastructure. For personal use only • Nowa Nowa: Recent agreement with option to acquire 100% of project • Located in Eastern Victoria, 250km east of Melbourne. • Massi
Slide 18: Nowa Nowa Iron Project
NOWA NOWA IRON PROJECT • Multiple massive magnetite bodies faulted against volcanic rocks • Several deposits previously drilled by GSV For personal use only • Drill core re-assayed by previous explorer: eg: DH 14 39.6m – 121.92m (82.28m) av. 56.9% Fe, 13.1% SiO2, 1.3% Al2O3 • Program over next 6 mon
Slide 19: The Year Ahead
The Year Ahead For personal use only Sept-Dec 11 Jan – Mar 12 Apr – Jun 12 Jul – Aug 12 Queensland •Complete Discussions with potential JV Scoping study partners Iron Project • Complete resource est for Hawkwood Nowa Nowa • Compile • Met testwork • Commence • Feasibility study resource data •Transpo
Slide 20: Eastern Iron - Summary
Eastern Iron - Summary Central Queensland Iron Project (Hawkwood, Eulogie) • Large potential iron resource close to established infrastructure. For personal use only • High quality magnetite iron product • Eulogie concept study due for completion in December quarter • Investigating options for next
Slide 21: Thank you / Questions?
Suite 3, Level 1, 80 Chandos Street Thankyou St Leonards,2065, Australia PO Box 956, Crows Nest,1585 For personal use only Ph: 02 9906 7551 Fax: 02 9906 5233 Questions? www.easterniron.com.au