Image Resources Nl · ASX:IMA
Image Resources Nl — Investor Presentation (November 2015)
26 slides from Image Resources Nl's investor presentation, Nov 12, 2015
Slide 1: Investor Presentation November 2015
1 For personal use only November 2015 ASX:IMA
Slide 2: Forward Looking Statement
Forward Looking Statement 2 For personal use only 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 development costs and other operating
Slide 3: Investment Highlights
Investment Highlights 3 For personal use only Focused on bringing Boonanarring into production in early 2017 Location advantage Situated in the heart of WA mineral sands province, just north of Perth Adjacent to major highway, access to power & gas Neighboured by majors Tronox and Iluka Boonan
Slide 4: Corporate Snapshot
CorporateSnapshot Corporate Snapshot 4 For personal use only Management highly experienced in mining and mineral sands Share Code: IMA Key Management Share Price: A$0.08 Collis Thorp – Chief Executive Officer 12 Month Price Range: A$0.061 – 0.18 Mechanical Engineer, previous MD Cable Sands, CEO Moly
Slide 5: Recently Announced MOU
Recently Announced MOU 5 For personal use only Lower capex, funding, off-take and expertise….. Non-binding Memorandum of Understanding (MoU) with Murray Zircon (MZ) and MZ parent, Guangdong Orient Zirconic Ind Sci & Tech Co (OZC): Acquisition of a wet plant together with certain ancillary equipmen
Slide 6: About Murray Zircon & OZC
About Murray Zircon & OZC 6 For personal use only Experienced & well-credentialed partners Murray Zircon Incorporated joint venture, 65% owned by OZC Owns and operates the Mindarie mineral sands project in 150km east of Adelaide in South Australia Redeveloped & recommenced mining in 2011/2012,
Slide 7: Status Of The Merger
Status Of The Merger 7 For personal use only Due Diligence for both Image and Murray Zircon has been completed including the Mindarie Plant Inspection. All legal documentation is substantially complete and principally awaiting confirmation of approvals from Chinese Regulatory Agencies. FIRB (F
Slide 8: North Perth Basin Projects
North Perth Basin Projects 8 For personal use only High VHM and very high Zircon grade at Boonanarring Ore HM Slimes VHM Ilmenite Leucoxene Rutile Zircon Probable Reserves (Mt) (%) (%) (%) (%) (%) (%) (%) Boonanarring1 14.4 8.3 17.0 80 47 6 3 25 Atlas1 9.7 8.1 15.5 74 55 1 7 11 TOTAL 24.1 8.2 16.4 7
Slide 9: Boonanarring Project
Boonanarring Project 9 For personal use only Image’s flagship asset Initial Feasibility Study completed in July 2013 with a mine life of 7 years Feasibility Study update underway incorporating detailed mine planning and the Murray Zircon WCP EPA approved, water licence imminent – other require
Slide 10: Boonanarring Project Comparison
Boonanarring Project Comparison 10 For personal use only Low capex & high grade relative to peers Capex (A$m) Resource HM & Zircon Grade (%) HM Grade (%) Zircon (%) 14.0% 25% $500 VHM Grade Zircon % Image Resources (IMA) Startup capex 12.0% Boonanarring project 21.5Mt @ 8.3% HM and up to 24.5% Zirco
Slide 11: Boonanarring Project Schedule
Boonanarring Project Schedule 11 For personal use only Aiming for first production in early 2017 2015 2016 2017 May May Aug Aug Nov Nov Sep Dec Sep Dec Sep Mar Mar Feb Jun Feb Jun Jan Jan Apr Apr Oct Oct Oct Jul Jul MZ due diligence / agreements Execution of agreements CPs & transaction completion
Slide 12: Boonanarring Approvals
Boonanarring Approvals 12 For personal use only Approvals are well-advanced Mining Lease & General Purpose Lease Part IV, Environmental Protection Act (WA) – PER EPBC Act (Commonwealth) FIRB Approval for merger as contemplated in the MoU Landowner access agreements Section 5C Groundwater Abs
Slide 13: Boonanarring Extensions
Boonanarring Extensions 13 For personal use only Seeking to extend mine life beyond 10 years Boonanarring North Targeting a potential 5.2km extension, drilling1.3km north of the deposit includes14m @ 18% HM & 8m @ 22% HM , 96 drill holes planned (subject to access) Boonanarring to Gingin North P
Slide 14: Tronox Royalty
Tronox Royalty 14 For personal use only Potential short term royalty cash flows from Mullering Royalty deal and extension potential A$50,000 cash payment has been received Sliding Royalty: – at 2.5% average grade the royalty will be 1.25% – at 3.0% average grade the royalty will be 2.50% – at 3.
Slide 15: Potential Future Transactions
Potential Future Transactions 15 For personal use only Bidaminna Project A new large 11.2km long exploration target which ranges from 600 to 1300m in width. This exploration target1 has the potential for 100-110mt averaging 3-4% HM extending north of the Bidaminna Deposit 44Mt @3%HM. The Bidam
Slide 16: The 'New Image'
The ‘New Image’ 16 For personal use only 2015 – A big year for Image What investors can look forward to over 2H 2015: Execution of binding agreements and completion of Murray Zircon transaction Completion of Bankable Feasibility Study Finalisation of project approvals in readiness for construc
Slide 17: Appendices
For personal use only APPENDICES THE TEAM RESOURCES & RESERVES 17
Slide 18: Competent Person's Statement
APPENDICES Competent Person’s Statement 18 For personal use only COMPETENT PERSON’S STATEMENT – EXPLORATION RESULTS The information in this presentation that relates to exploration results is based on information compiled by George Sakalidis who is a member of the Australasian Institute of Mining an
Slide 19: Key Management
APPENDICES Key Management 19 For personal use only Collis Thorp (FAICD) – Chief Executive Officer Collis Thorp joined Image in May 2014. He has enjoyed a career of over 45 years in the resources industry, encompassing a broad range of commodities. His 18 years of mineral sands experience includes se
Slide 20: Directors
APPENDICES Directors 20 For personal use only John Jones – Chairman Mr Jones, a well known and respected mining identity, who has been associated with a number of successful mining corporations in his 30 years of business. Mr Jones has a strong prospecting instinct, clear strategic vision and a desi
Slide 21: Reserves
Reserves 21 For personal use only PROBABLE RESERVES (2.5% cut off) ORE HM GRADE CONTAINED HM ZIRCON IN HM Mt HM % kt % Zircon Boonanarring 14.4 8.3% 1,200 24.5% Atlas 9.7 8.1% 800 11.0% TOTAL JORC RESERVES 24.1 8.2% 2,000 19.1% Refer to the 31 May ASX release http:// 1 Refer to the 31 May ASX releas
Slide 22: Resources (1/3)
Resources (1/3) 22 For personal use only BOONANARRING/RED GULLY PROJECT (2.5% CUT OFF) Ore HM Slimes HM VHM Ilmenite Leucoxene Rutile Zircon (t) (%) (%) (t) (%) (%) (%) (%) (%) Boonanarring Deposit Measured 3,000,000 7.8 10.1 230,000 70 49 1 3 17 Indicated 14,300,000 9.0 17.2 1,270,000 80 49 6 3 22
Slide 23: Resources (2/3)
Resources (2/3) 23 For personal use only ATLAS/COOLJARLOO PROJECT (2.5% CUT OFF) Ore HM Slimes HM VHM Ilmenite Leucoxene Rutile Zircon (t) (%) (%) (t) (%) (%) (%) (%) (%) Atlas Measured 9,700,000 8.5 15.3 820,000 76 52 5 8 11 Atlas Indicated 1,080,000 3.2 19.2 34,000 74 53 8 7 6 TOTAL 10,780,000 7.9
Slide 24: Resources (3/3)
Resources (3/3) 24 For personal use only COOLJARLOO NORTH PROJECT (2.5% CUT OFF) Ore HM Slimes HM VHM Ilmenite Leucoxene Rutile Zircon (t) (%) (%) (t) (%) (%) (%) (%) (%) Helene Indicated 11,500,000 4.6 18.6 520,000 84 70 1 3 11 Hyperion Indicated 3,700,000 7.8 19.3 290,000 71 56 0 6 9 TOTAL 15,200,
Slide 25: Contact
Contact Contact 25 For personal use only Principal Office Principal Contact Ground Floor, 23 Ventnor Avenue Collis Thorp, CEO West Perth WA 6005 Office:+61 8 9485 2410 Mobile:+61 413 705 075 www.imageres.com.au Email: cthorp@imageres.com.au
Slide 26: For personal use only
For personal use only 26
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