Igo Limited · ASX:IGO
Igo — Independence Group NL — Fremantle RIU Conference February 2012
43 slides from Igo's conference presentation, Feb 22, 2012
Slide 1: Independence Group – Value Through Discovery and Development
For personal use only INDEPENDENCE GROUP VALUE THROUGH DISCOVERY AND DEVELOPMENT Fremantle RIU Conference February 2012 Chris Bonwick – Managing Director 1
Slide 2: Disclaimer
Disclaimer For personal use only 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
Independence Group Overview ‐ Corporate For personal use only Capital Structure: ASX 200 Code : IGO 232.9M shares Market Cap. (21/02/12) : A$1,022M Substantial shareholders: JCP : 12.2% (Dec 2011) Australian Institutions: 62.3% Off Shore Institutions: 9.8% 60 Institutions in top 100 Financials: Cash
Slide 4: Mines, Development and Advanced Exploration Projects
Independence Group NL – Mines, Development and Advanced Exploration Projects For personal use only 4
Slide 5: Tropicana JV – Significant Discoveries To Date
Tropicana JV (IGO 30%) Significant Discoveries To Date For personal use only Numerous gold anomalies and potential for other gold discoveries Reference – AGA 27/7/11 and 29/11/11 ASX Releases for Resource and Reserve Estimates 5
Slide 6: Tropicana JV 2011 Resources & Reserves
Tropicana JV 2011 Resources & Reserves For personal use only 100% PROJECT November 2011 Mineral Resource: 88.3Mt @ 2.3g/t Au = 6.41Moz (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 and 29/11/11 ASX Releases for Resource and Reserve Estimat
Slide 7: Tropicana JV – Bankable Feasibility Study & June 2011 Reserve Update
Tropicana JV – Bankable Feasibility Study & June 2011 Reserve Update (100% Project) For personal use only BFS Open Pit Reserves: Tropicana, Havana, Havana South Reference – IGO 11/11/10 ASX Release 48Mt at 2.2 g/t Au – 3.4Moz* for BFS Open Pit Reserve Estimate *A$1,100 oz Au, A$85/bbl oil, 0.7 g/t A
Slide 8: Tropicana JV – Proposed Site Layout
Tropicana JV – Proposed Site Layout For personal use only 8
Slide 9: Tropicana JV – Proposed Plant Layout
Tropicana JV – Proposed Plant Layout For personal use only 9
Slide 10: Tropicana JV – BFS Outcome
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 11: Tropicana JV – Boston Shaker and Swizzler Significant Intercepts
Tropicana JV ‐ Boston Shaker and Swizzler Significant intercepts For personal use only Proposed Boston Shaker, Tropicana and Havana Open Pit Outlines, g/t Au x Thickness (m) Contours, Significant Drill Intercepts and Location of the Swizzler and Swizzler Deeps Prospects Drill widths approximate true
Slide 12: Tropicana JV – Havana Deeps Intercepts
Tropicana JV Havana Deeps Intercepts For personal use only Drill widths approximate true width Reference – IGO 30/09/11 ASX Quarterly Report 12
Slide 13: Tropicana JV – Havana Deeps Cross-section
Tropicana JV Havana Deeps Cross‐section For personal use only Drill widths approximate true widths Reference – IGO 30/09/11 ASX Quarterly Report 13
Slide 14: Tropicana JV – Havana Open Pit and Underground Potential
Tropicana JV ‐ Havana Open Pit and Underground Potential For personal use only Havana Deeps Underground Havana Potential Open Pit Resource Location Cut‐back Reference – AGA 27/7/11 ASX Release for Reserve Estimate and IGO 29/11/11 ASX Release for Havana Deeps Underground Resource Estimate 14
Slide 15: Long Nickel Mine (IGO 100%)
Long Nickel Mine (IGO 100%) For personal use only 2002 Purchase price = A$15M Update 27% Ore Reserve increase to 58,100 Ni t. Continued exploration and production development. Exploration success at Long North and Moran. 1979‐1999 WMC Production: 203,184t Ni 2002‐Dec Qtr 2011 IGO Production: 7
Slide 16: Long Nickel Mine – History and Goals
Long Nickel Mine (IGO 100%) For personal use only Moran, McLeay and Long nickel ore bodies yet to be closed off HISTORY • IGO Starting Reserve = 26,800 Ni t • IGO Production to Dec 11 = 78,359 Ni t • June 2011 Resource = 83,000 Ni t • June 2011 Reserves = 58,100 Ni t GOALS • Sustainable 9,000t Ni pa
Slide 17: Quarterly Cash Costs and Revenue
Quarterly Cash Costs and Revenue For personal use only History of high operating margins and consistent low cash costs Revenue A$/lb Ni (includes hedging) Payable Cash Costs A$/lb Ni 17
Slide 18: Long Production Forecast and Hedging
Long Production Forecast and Hedging For personal use only History of exceeding production guidance 2011/12 Actual Guidance Jul – Dec 2011 • Production 8,800 ‐ 9,200 Ni t 4,497 Ni t • Grade 3.8% Ni 3.6% Ni • Cash Costs (payable) + royalty A$4.80 ‐ 5.00/lb Ni A$4.96/lb Ni • Hedging July 2011 ‐ Jun 20
Slide 19: Mine Geophysics – TEM Equipment
Mine Geophysics ‐ TEM Equipment For personal use only Innovative research and development 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 20: Long Mine Nickel Deposits and Targets
Long Mine Nickel Deposits and Targets Longitudinal Projection For personal use only Largest Reserve since IGO reopened the mine (mine life extended to at least 2017) Reference – IGO 20/10/11 Annual Report ASX Release for Resource and Reserve Estimates 20
Slide 21: Jaguar / Bentley Operation
Jaguar / Bentley Operation (IGO 100%) VMS Corridor Walk‐up Geophysical and Drilling Targets For personal use only Aeromagnetic Image Jaguar / Bentley June 2011 Reserves: 3.28M t @ 1.7% Cu, 7.4% Zn, 93g/t Ag Reference – IGO 30/6/11 Annual Report ASX Release for Reserve Estimate Jaguar Mill Downhole w
Slide 22: Jaguar / Bentley Operation Production
Jaguar / Bentley Operation Production For personal use only • 2011/12 Guidance Payable 8,500 ‐ 9,500 Cu t, 15,500 ‐ 16,500 Zn t 0.4 – 0.5M ounces Ag • 2011/12 Actual YTD Payable 3,570 Cu t, 5,516 Zn t, 0.2M oz Ag • Zn C1 Cash Costs (after Cu‐Ag credits) A$0.47/lb Zn NEW HEAVY MEDIA SEPARATION PLANT
Slide 23: Jaguar Deposit (IGO 100%)
Jaguar Deposit (IGO 100%) For personal use only June 2011 Resource: 0.86M t @ 2.7% Cu, 4.6% Zn, 66g/t Ag 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 23
Slide 24: Bentley Deposit (IGO 100%)
Bentley Deposit (IGO 100%) For personal use only June 2011 Resource: 3.0M t @ 2.0% Cu, 9.8% Zn, 139g/t Ag, 0.7g/t Au Reserve: 2.45M t @ 1.5% Cu, 8.6% Zn, 106g/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 25: Jaguar Project (IGO 100%)
Jaguar Project (IGO 100%) VMS Corridor Walk‐up Geophysical and Drilling Targets For personal use only Under explored 50km long prospective 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 26: Stockman Project (IGO 100%)
Stockman Project (IGO 100%) Mines and Prospects For personal use only Wilga and Currawong Cu‐Zn‐Ag Deposits discovered by WMC in 1978/9. June 2011 Total Indicated + Inferred Resources: 12.7M t @ 2.1% Cu, 4.4% Zn, 39g/t Ag, 1.0g/t Au Reference – IGO 20/10/11 Annual Report ASX Release for Resource Est
Slide 27: Stockman Project – Currawong Deposit Planned Development
Stockman Project Currawong Deposit Planned Development For personal use only June 2011 Resource: 9.43M t @ 2.0% Cu, 4.2% Zn, 0.8% Pb, 42g/t Ag, 1.2g/t Au Open down‐plunge 27 Reference – IGO 20/10/11 Annual Report ASX Release for Resource Estimate
Slide 28: Stockman Project – Wilga Deposit Planned Development
Stockman Project Wilga Deposit Planned Development For personal use only June 2011 Resource: 3.26M t @ 2.4% Cu, 4.8% Zn, 0.4% Pb, 30g/t Ag, 0.4g/t Au Open down‐plunge Reference – IGO 20/10/11 Annual Report ASX Release for Resource Estimate 28
Slide 29: Karlawinda Gold Project – Bibra Prospect Cross-section
Karlawinda Gold Project (IGO 100%) Bibra Prospect Cross‐section For personal use only Maiden Resource 219,900 oz Au Drill intercepts are quoted as down hole widths, and not true widths Reference – IGO 31/3/11 ASX Quarterly Report for Resource estimate 29
Slide 30: Duketon JV – Rosie Prospect Maiden Resource
Duketon JV – Rosie Prospect Maiden Resource (IGO earning 70%) For personal use only Reference – IGO 25/1/12 ASX Release for Resource Estimate 30
Slide 31: Project Generation – De Beers Database
Project Generation De Beers Database (IGO 100%) For personal use only No buy‐back or royalties on future mineral discoveries Long term exploration asset to find new Australian mineral camps. 293,000 geochemical samples collected. 2,278 samples reporting visible gold. 2,025 geophysical survey
Slide 32: De Beers Database
De Beers Database For personal use only IGO Team Preparing geochemical samples for analysis IGO 2009 gold analysis of De Beers samples collected before the discovery of the Plutonic Gold Mine (WA) Potential of the 100% owned proprietary data base for identifying undiscovered deposits 32
Slide 33: Asset Pipeline and Organic Growth Profile
Asset Pipeline and Organic Growth Profile For personal use only Combination of low cost cash flows from current operating mines with significant long‐life development projects and highly prospective exploration Highly complimentary management and technical capabilities, with proven successful track
Slide 34: Independence Contact Details
Independence Contact Details For personal use only 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 35: Appendix – Resource Statements
Independence Group NL For personal use only APPENDIX RESOURCE STATEMENTS 35
Slide 36: Long Nickel Mine – June 2011 Resources and Reserves
Long Nickel Mine (IGO 100%) June 2011 Resources and Reserves For personal use only RESOURCES MINING RESERVE 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 37: Tropicana JV – November 2011 Resources and June 2011 Reserves
Tropicana JV (AngloGold Ashanti 70% / IGO 30%) November 2011 Resources and June 2011 Interim Reserves For personal use only November 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 28.2 2.1 1
Slide 38: Jaguar/Bentley Mineral Resource – June 2011
Jaguar Project Jaguar/Bentley Mineral Resource – June 2011 For personal use only 2.0 ‐ Reference – IGO 20/10/11 Annual Report ASX Release for Resource Estimates 38
Slide 39: Jaguar/Bentley Project Reserve – June 2011
Jaguar/Bentley Project Reserve– 30 June 2011 For personal use only ‐ Reference – IGO 20/10/11 Annual Report ASX Release for Reserve Estimates 39
Slide 40: 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 41: 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 42: Duketon Nickel JV – Maiden Resource January 2012
Duketon Nickel JV– IGO Earning 70% Maiden Resource January 2012 For personal use only Reference – IGO 25/01/2012 ASX Announcement for Resource Estimate 42
Slide 43: Competent Person Statements
Competent Person Statements For personal use only Notes: The information in this summary presentation that relates to Exploration Results 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 Australasian Institute of Mining an
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