Slide 1: Managing Director to provide updates via Virtual Investor Meetings
For personal use only ASX Release 28 July 2020 Managing Director Patrick Mutz to provide updates via Virtual Investor Meetings The Company’s Managing Director, Mr Partick Mutz, will be providing updates to investors during 28 and 29 July 2020. An updated presentation is attached for information. Thi
Slide 2: Australia's newest mineral sands miner – Investor Presentation
For personal use only Australia’s newest mineral sands miner Emerging mid-tier prospect Boonanarring Mineral Sands Project Investor Presentation 28 July 2020 Patrick Mutz Managing Director Image Resources NL ASX: IMA 1
Slide 3: Disclaimer and Forward Looking Statements
Disclaimer and Forward Looking Statements For personal use only This presentation/document has been prepared by the management of Image Resources NL ("Image”, “IMA“, or “the Company”). The information presented includes an indicative outlook of the business activities of Image for the calendar year
Slide 4: For personal use only
Image Resources For personal use only Mineral Sand Markets Overview of recent trends Boonanarring Project A uniquely rich and valuable mineral sands project Operational Performance Demonstrating a solid track record of operational performance Growth Exciting exploration upside and an enviable portfo
Slide 5: Mineral Sand Markets – Zircon
Mineral Sand Markets – Zircon Ø Chinese zircon demand softened during late 19 & 1H’20 as the COVID-19 pandemic impacted For personal use only downstream demand and international exports. Ø Global supply side disruptions have provided some stability to pricing. Ø Chinese domestic zircon stocks now lo
Slide 6: Mineral Sand Markets – TiO2
Mineral Sand Markets – TiO2 For personal use only Ø TiO2 markets showing strength and stability. Ø Ilmenite markets buoyed by limited global supply exacerbated by Chinese domestic mine suspensions and strong operating rates at sulfate pigment plants and relatively low inventory levels Ø Rutile marke
Slide 7: Boonanarring Project – Uniquely Rich Deposit
Boonanarring Project – Uniquely Rich Deposit For personal use only Grade Revenue Split Ø 8.9% HM and 27.5% zircon in HM 19% TiO2 Assemblage Ø 81% of revenue derived from zircon 81% ZrO2 Coarse Grained Mineralisation Ø D50 ~180 microns High Metallurgical Recoveries Metallurgical Recoveries 98% 90% Ø
Slide 8: Boonanarring Project – Simple Business Model
Boonanarring Project – Simple Business Model For personal use only Mining Dry open pit mine utilising a truck and shovel fleet. Processing 3.7Mtpa conventional wet concentrate plant to produce a high-quality HMC. Trucking HMC trucked to Bunbury. Shipping HMC shipped in bulk to China. 7
Slide 9: Operational Performance – Track Record
Operational Performance – Track Record Excellent track record of operational delivery For personal use only Wet Concentrate Plant Ore Processed (kt) Ø Project commissioned in Dec-18. Ø June Quarter 2020 operational performance broadly in line with record setting March Quarter 2020. Ø CY2020 guidance
Slide 10: Operational Performance – Cost Control
Operational Performance – Cost Control Demonstrating cost discipline For personal use only Ø Improved operating rates and expected ore grade are supporting high HMC production rates which in conjunction with continued cost discipline are reflected in falling unit costs. Unit Cash Costs (A$/t HMC Pro
Slide 11: Operational Performance – Guidance & Forecasts
Operational Performance – Guidance & Forecasts For personal use only 2019 2020’1H 2020 2021 Item Units Results Results Guidance Forecast HMC Produced DMT 000s 270 167 300-330 300-330 HMC Sold DMT 000s 238 109 300-330 300-330 Project Operating Costs A$m 73 45 100-110 90-100 C1 Cash Costs per tonne HM
Slide 12: Growth – Our Portfolio
Growth – Our Portfolio Established resources in the North Perth Basin For personal use only Ø Dry Mining Mineral Resources of 93Mt; 6.3% HM and 17% Zircon+Rutile in the HM Ø Dredge Mining Mineral Resources of 236Mt; 2.1% HM and 11.5% Zircon+Rutile in the HM JORC Mineral Resources 12% Dry Mining Dred
Slide 13: Growth – Our Project Pipeline
Growth – Our Project Pipeline Image has an enviable portfolio of development projects For personal use only Exploration Early Stage Advanced Production Boonanarring Project MORE Boonanarring Area Gingin N / South Dry Mining Red Gully Central Area Regans Ford Northern Atlas Area Cooljarloo Dredge Min
Slide 14: Growth – Project MORE
Growth – Project MORE For personal use only Northern MORE Ore Reserves – internally high profile, Extension interdisciplinary program to rapidly add mine life Northwest Area at Boonanarring. Extension Area Ø Rigorous target identification Ø Systematic overview of potential targets within extensive e
Slide 15: For further information
For further information For personal use only Patrick Mutz Managing Director Image Resources NL info@imageres.com.au Office: +61 8 9485 2410 Ground Floor, 23 Ventnor Avenue West Perth, WA 6005 PO Box 469, West Perth, WA 6872 www.imageres.com.au 14
Slide 16: Corporate Snapshot
Corporate Snapshot For personal use only Diverse and Experienced Board and Management ASX Code: IMA Board of Directors Share Price: A$0.18* Bob Besley – Independent Chairman 12-Month Price Range: A$0.12-0.28 Patrick Mutz – Managing Director Shares on Issue: 981m Chaodian Chen - Non-Executive Directo
Slide 17: Ore Reserves
Ore Reserves For personal use only HIGH-QUALITY ORE RESERVES (Updated Dec 2019) Ø JORC Code (2012) Compliant Ø High HM, VHM and very high zircon at Boonanarring Ore Reserves - Strand Deposits; in accordance with the JORC Code (2012) Project/Deposit Category Tonnes % HM % Slimes HM Tonnes VHM Ilmenit
Slide 18: Mineral Resources
Mineral Resources For personal use only Mineral Resources - Strand Deposits; in accordance with the JORC Code (2012) @ 2.0% HM Cut-off Mineral Resources - Dredge deposits; in accordance with JORC Code (2012) @ 1.0% HM Cut-off Project/Deposit Category Volume Tonnes % HM % Slimes HM Tonnes VHM Ilmenit