Thor Energy Plc · LSE:THR
Thor Energy — Thor Mining — Shareholder Meeting (November 2011)
24 slides from Thor Energy's shareholder meeting presentation, Nov 30, 2011
Slide 1: Annual General Meeting – Presentation to Shareholders
ASX Code: “THR” 30 November 2011 Company Announcements Office, For personal use only ASX Securities Limited, THOR MINING PLC 20, Bridge Street, Registered Numbers: Sydney, N.S.W. 2000 United Kingdom 05 276 414 Australia 121 117 673 Registered Office: Annual General Meeting – Presentation to Sharehol
Slide 2: Mick Billing – Chairman & Chief Executive Officer
For personal use only Mick Billing – Chairman & Chief Executive Officer Tel: +61 8 7324 1935 Fax: +61 8 8351 5169 Email: mbbt@senet.com.au Address: Level 1, 32 Richmond Road, KESWICK, SA, 5035, AUSTRALIA www.thormining.com 1
Slide 3: For personal use only
This document and all other information (whether in writing or otherwise) which may be made available is: 1. Supplied solely for the intended recipient and may not be copied, reproduced, further distributed to any other person or published, in whole or in part, for any purpose. For personal use only
Slide 4: Corporate, Board & Management
CORPORATE Dual listed ASX and AIM: (THR) BOARD & MANAGEMENT For personal use only Directors • Mick Billing - Exec Chairman • Trevor Ireland - Director • Greg Durack - Director • Mick Ashton - Director Management Richard Bradey - Expl Mgr Allan Burchard - CFO & Co Sec 3
Slide 5: Project Locations / Thor Mining PLC Strategy
For personal use only PROJECT LOCATIONS THOR MINING PLC STRATEGY • Bring the Molyhil tungsten / molybdenum / magnetite project into production in 2013 • Establish Spring Hill Gold Project as a viable operation and commence production in 2014 • Explore Dundas with the objective of establishing a mine
Slide 6: Molyhil Project: Tungsten + Molybdenum & Magnetite
For personal use only MOLYHIL PROJECT TUNGSTEN + MOLYBDENUM & MAGNETITE 5
Slide 7: Molyhil Key Points
MINE DEVELOPMENT - MOLYHIL MOLYHIL KEY POINTS For personal use only • Commodities: W, Mo, Fe (Scheelite, Molybdenite, Magnetite) • Tungsten price near record highs • Molybdenum price steady • Magnetite suited for coal washing or steel production • Thor Equity 100% • Thor seeking project investment a
Slide 8: Molyhil Key Points (cont.)
MINE DEVELOPMENT - MOLYHIL MOLYHIL KEY POINTS (cont.) For personal use only • Resource extension potential tested via recent drilling • Feasibility study update December 2011 • Development schedule commences 2012 • Environmental Permitting in place in 2007 & being refreshed • Aboriginal Owner Agreem
Slide 9: Mine Development - Molyhil Operating Parameters
MINE DEVELOPMENT - MOLYHIL Operating Parameters For personal use only Annual throughput of Ore 400,000 tonnes Tungsten recovery 67% Molybdenum recovery 77.8% Magnetite recovery tba Annual Product Output Product Grade Annual Production Scheelite Concentrate 72.9% WO₃ 2,000 tpa Molybdenum Concentrate
Slide 10: Molyhil Program 2011
MINE DEVELOPMENT - MOLYHIL For personal use only PROGRAM 2011 • Update feasibility studies; to include • current metal prices • Revised operating parameters • Revised capital and operating costs • Drill to test down-plunge extensions of the lode and increase resources with likely positive outcome Si
Slide 11: 2011 Drilling Results
MINE DEVELOPMENT - MOLYHIL 2011 DRILLING RESULTS For personal use only Reverse Circulation Drilling Program Diamond Drilling Program • New mineralisation outside existing • Very high grade assays, incl’ resource • High grade assays, incl’ • 16.4 metres @ 0.84% WO₃ & 0.56% MOS₂ • 16 metres @ 0.81% WO
Slide 12: Definitive Feasibility Study Progress
MINE DEVELOPMENT - MOLYHIL DEFINITIVE FEASIBILITY STUDY PROGRESS For personal use only Capital Cost Estimate A$ 66 million Operating Cost Estimate A$80/ tonne Revenue / mtu WO3 * US$360 Operating Cost / mtu WO3 ** US$130 Revised resource estimate / ore reserve / mining In progress plan Est’ completi
Slide 13: Spring Hill Project: Gold
For personal use only SPRING HILL PROJECT GOLD 12
Slide 14: Deposit Evaluation – Spring Hill Key Points
DEPOSIT EVALUATION – SPRING HILL THOR HOLD RIGHTS TO 80% EQUITY For personal use only SPRING HILL – KEY POINTS • Indicated Resource at shallow depth 3.6 Mt @ 2.3g/t = 274,000 ounces gold • Proximity to most infrastructure Spring Hill Hong Kong Zone • Brownfields discovery potential of company-making
Slide 15: Deposit Evaluation - Spring Hill Total Resources
DEPOSIT EVALUATION - SPRING HILL TOTAL RESOURCES: For personal use only 3.6 million tonnes @ 2.3 g/t gold Containing 274,000 ounces gold Comprising: Measured Indicated Inferred TOTAL ‘000 Grade ‘000 Grade ‘000 Grade ‘000 Grade Contained tonnes g/t Au tonnes g/t Au tonnes g/t Au tonnes g/t Au ounces
Slide 16: Deposit Evaluation – Spring Hill
DEPOSIT EVALUATION – SPRING HILL For personal use only Historical Intersections approx 1km north of resource boundary Spring Hill: Simplified geological plan & gold deposit outline • Spring Hill gold resource currently contained within four zones of mineralisation. • Known mineralisation to the nort
Slide 17: Significant Potential to Increase the Open Pit Resource
DEPOSIT EVALUATION – SPRING HILL For personal use only SIGNIFICANT POTENTIAL TO INCREASE THE OPEN PIT RESOURCE BY DRILLING BEYOND 150 METRES DEPTH 16
Slide 18: Gold Exploration - Spring Hill
GOLD EXPLORATION - SPRING HILL Gold in the Pine Creek Area For personal use only • There are abundant gold deposits throughout the Pine Creek Inlier • The geology & geological history is identical to the Tanami Inlier (a few hundred km to the SW) which hosts the Callie deposit (production + resource
Slide 19: Gold Exploration – Spring Hill Koolpin Formation
GOLD EXPLORATION – SPRING HILL KOOLPIN FORMATION For personal use only PROGRAM 2011/12 • Review data • Geophysical survey • Initial deep drill test 18
Slide 20: Work Program - Spring Hill
WORK PROGRAM - SPRING HILL PROGRAM 2011 For personal use only • Drilling to • Confirm existing resource data • Extend resource amenable to open pit mining • Metallurgical test work • Scoping & feasibility studies PROGRAM 2012 • Drilling to continue depth expansion of known resource • Drill test know
Slide 21: Gold Exploration - Dundas Key Features
GOLD EXPLORATION - DUNDAS DUNDAS – KEY FEATURES For personal use only • Exciting Greenfields Opportunity - new mineralised province • Anglogold Ashanti ‘Tropicana’ gold mine +5 million ounces; now in development; in the same geological environment • Numerous discoveries since 2006 • Dundas tenements
Slide 22: Gold Exploration - Dundas
For personal use only GOLD EXPLORATION - DUNDAS 2121
Slide 23: Gold Exploration - Dundas Exploration Program
GOLD EXPLORATION - DUNDAS For personal use only EXPLORATION PROGRAM Extend & infill calcrete geochemistry (ongoing) • Air-core RAB drill better calcrete anomalies (ongoing) • Environmental surveys • Follow up RC drilling according to results 22
Slide 24: Summary
SUMMARY For personal use only THOR MAKING SIGNIFICANT STRIDES TOWARDS PRODUCER STATUS: • Advancing feasibility studies at Molyhil Tungsten/Molybdenum Project • Completing confirmatory drilling & pre-feasibility investigations at Spring Hill Gold Project POTENTIAL FOR SIGNIFICANT ADDITIONAL GOLD DISC