Image Resources Nl · ASX:IMA

Image Resources Nl — Investor Presentation (May 2015)

24 slides from Image Resources Nl's investor presentation, May 11, 2015

  1. Slide 1: May 2015

    For personal use only May 2015 ASX:IMA 1

  2. 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

  3. Slide 3: Investment Highlights

    Investment Highlights 3 For personal use only Focused on bringing Boonanarring into production in 2016 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 Boonanarring

  4. 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$0.09 Collis Thorp – Chief Executive Officer 12 Month Price Range: A$0.076 – 0.18 Mechanical Engineer, previous MD Cable Sands, CEO Moly

  5. 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

  6. 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,

  7. Slide 7: North Perth Basin Projects

    North Perth Basin Projects 7 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

  8. Slide 8: Boonanarring Project

    Boonanarring Project 8 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

  9. Slide 9: Boonanarring Project Comparison

    Boonanarring Project Comparison 9 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% Zircon

  10. Slide 10: Boonanarring Project Schedule

    Boonanarring Project Schedule 10 For personal use only Aiming for first production in late 2016 2015 2016 2017 May May Aug Aug Nov Nov May Sep Dec Sep Dec Mar Mar Jun Feb Jun Feb Jun Jan Jan Apr Apr Oct Oct Jul Jul MZ due diligence / agreements Execution of agreements CPs & transaction completion 

  11. Slide 11: Boonanarring Approvals

    Boonanarring Approvals 11 For personal use only Approvals are well-advanced  Mining Lease & General Purpose Lease  Part IV, Environmental Protection Act (WA) – PER  EPBC Act (Commonwealth) Landowner access agreements Section 5C Groundwater Abstraction Licence (Dept of Water and Dept Parks & Wildl

  12. Slide 12: Boonanarring Extensions

    Boonanarring Extensions 12 For personal use only Seeking to extend mine life beyond 10 years Red Gully  Infill programme underway to upgrade resource category Boonanarring North  Targeting a potential 5km extension, previous drilling of 6m @ 6.7% HM, 45 drill holes planned (subject to access) Boon

  13. Slide 13: Atlas Project

    Atlas Project 13 For personal use only Near surface, high grade resource Atlas  Resource of 10.8mt @ 7.8% = 854kt HM  Targeting Atlas South Upside (increase Resources)  Target: 15km (Munbinia) & 8km (Munbinia West) up to 675-810kt HM @ 5-6% Work programme (2014/15)  Drilling for resource charact

  14. Slide 14: Tronox Royalty

    Tronox Royalty 14 For personal use only Potential short term royalty cashflows 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 3.5% ave

  15. Slide 15: Appendices: The Team; Resources & Reserves

    For personal use only APPENDICES THE TEAM RESOURCES & RESERVES 15

  16. Slide 16: Competent Person's Statement

    APPENDICES Competent Person’s Statement 16 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

  17. Slide 17: Key Management

    APPENDICES Key Management 17 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

  18. Slide 18: Directors

    APPENDICES Directors 18 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

  19. Slide 19: Reserves

    Reserves 19 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

  20. Slide 20: Resources (1/3)

    Resources (1/3) 20 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

  21. Slide 21: Resources (2/3)

    Resources (2/3) 21 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

  22. Slide 22: Resources (3/3)

    Resources (3/3) 22 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,

  23. Slide 23: Contact

    Contact Contact 23 For personal use only Principal Office Principal Contact 4a, 5 Mumford Place Collis Thorp, CEO Balcatta WA 6021 Office:+61 8 9485 2410 Mobile:+61 413 705 075 www.imageres.com.au Email: cthorp@imageres.com.au

  24. Slide 24: For personal use only

    For personal use only 24

Image Resources NL — Investor Presentation (May 2015) on 6ix