Slide 1: Road to Production
For personal use only Road to Production Sydney Resources Round-up 13 May 2015 ASX: RXL 1
Slide 2: Disclaimers
Disclaimers For personal use only Forward-Looking Statements Competent Person Statements This report contains certain forward looking statements. The words "expect", "forecast", "should", "projected", The information in this report that relates to Exploration Results for the Mt Fisher, Reward and Bo
Slide 3: Introducing Rox
Introducing Rox For personal use only Rox Resources ASX : RXL Market Cap ~A$25M Fisher East Nickel, WA Reward Zinc, NT Bonya Copper, NT 3.6Mt @ 2.0% Ni* Exploration Target 60-80Mt High grade copper Scoping Study @ 10-12% Zn+Pb** Discovery completed JV with Teck * JORC Resource expected to increase (
Slide 4: Company Snapshot
Company Snapshot For personal use only Rox Capital Structure (31 Mar 2015) Camelwood Teena Zn Ni Resource Ni Discovery Discovery Musket Ni Doubled ASX Code: RXL Discovery Bonya Cu Discovery Issued Shares: 850.5m Unlisted Options: 45.3m Market Cap: $25.5m (at 3.0c) Cash: $2.2m (31 Mar) Experienced Bo
Slide 5: Fisher East Location
Fisher East Location For personal use only New province for nickel sulphide deposits – discovered by Rox – 150km NE of Leinster (BHP Nickel West) Total Resource* of 3.6 Mt @ 2.0% Ni for 72,100 tonnes Ni Scoping Study completed recently Drilling underway to expand current resources Exceptional explor
Slide 6: Four Nickel Discoveries
Four Nickel Discoveries For personal use only Camelwood 1.6 Mt @ 2.2% Ni* Musket 2.1 Mt @ 1.8% Ni* Cannonball Resource to come in 2015 Sabre prospect – new high grade aircore anomaly Potential to at least double resources - still open at depth and along strike VTEM over new tenement * JORC Resource
Slide 7: Scoping Study
Scoping Study For personal use only Conducted by independent international consultants, CSA Global Pty Ltd Examined two options: o Toll milling – truck ore to nearby plant (200km) o Build a plant – truck concentrate for sale Standard industry underground mining techniques Produces a clean, saleable
Slide 8: Scoping Study Metrics
Scoping Study Metrics For personal use only Item Base Case Toll Case Production Rate 350,000 tpa 350,000 tpa Mid-range Ni price (forecast) US$8/lb US$8/lb A$10/lb A$10/lb ROM Grade* 2.6% Ni 2.6% Ni Ni in Concentrate 8,000 t 8,000 t Payable Ni Metal 5,600 t 5,200 t Life of Mine 3 years 3 years Upfron
Slide 9: Market Peer Comparison
Market Peer Comparison For personal use only Increased Mining Inventory (Resource) will enable higher annual production, potentially higher grades and therefore lower cash costs Enterprise Value does not include other company projects (e.g. Teena) Rox will sit comfortably amongst peers * Peer group
Slide 10: Short Term Target 100kt Ni
Short Term Target 100kt Ni For personal use only Camelwood Mineral Resource: Indicated 0.6 Mt @ Open at depth and along 3km of strike, untested downhole EM 2.4% Ni, Inferred 1.0 Mt @ 2.1% Ni, Total 1.6 Mt @ conductors 2.2% Ni Musket Mineral Resource: Indicated 1.2 Mt @ 2.0% Target short-term resourc
Slide 11: Exploration Potential
Exploration Potential For personal use only Discovery Cost ~4.8 cents/lb Drill targets defined at Cutlass, Sabre and Tomahawk Drilling program underway to test targets Kambalda-style deposits occur in clusters with many deposits 25km of strike Potential to double known resources with further discove
Slide 12: Sabre Prospect Strong Nickel Sulphide Intersections
Sabre Prospect Strong Nickel Best results For personal use only Sulphide from VTEM 5m @ 1.1% Ni Intersections Conductor Up to 20m 5m @ 1.1% Ni 12
Slide 13: Reward Zinc Project
Reward Zinc Project For personal use only Teena Zn Discovery JV between Rox (49%) and Canadian major Teck Resources (51%) Teck earning-in to 70% by funding $15m ($10m spent) Excellent infrastructure including bitumen road, gas pipeline, major airport, ship loader, port 13
Slide 14: Teena Deposit
Teena Deposit For personal use only Large stratiform mineralised system; >1.9km strike x 0.8km wide; plunging east Zn:Pb ratio = 6.5:1 = good metallurgy Exploration Target 60 - 80Mt @ 10 - 12% Zn+Pb* (6-10 Mt contained zinc-lead) 19.4% Zn, 2.9% Pb 21.3% Zn, 3.4% Pb 22.1% Zn, 3.8% Pb 22.0% Zn, 4.0% P
Slide 15: Bonya Copper Project
Bonya Copper Project For personal use only 25Mt @ 1.1% Cu, 22 g/t Ag Rox 51% and earning to 70% for $1 million (by Dec 2016) High grade copper oxide outcrops (33% Cu and 55 g/tAg) Several drill targets ready to be tested 15
Slide 16: Bonya Mine Prospect
Bonya Mine Prospect For personal use only Massive copper sulphide intercepts 11m @ 4.4% Cu, incl. 3m @ 6.1% Cu 38m @ 4.4% Cu, incl. 6m @ 8.8% Cu and 8m @ 7.9% Cu 5m @ 9.1% Cu, incl. 3m @ 13.4% Cu Still open at depth and along strike More drilling planned 16
Slide 17: Exploration & Development Program
Exploration & Development Program For personal use only Q2 2015 Q3 2015 Q4 2015 Mt Fisher Resource Extension Drilling Resource Update Aircore Drilling Resource Infill Drilling Mining/Metallurgy/Environ Reward (Teena) Geochem/Geophys Drilling Program Metallurgy & Geotech Bonya RC Drilling 17
Slide 18: SPP Structure
SPP Structure For personal use only Rox Capital Structure (8 May 2015) Use of Funds Exercise Option $2.5m Issued Shares: 850.5m $25.5m Working Capital (PFS) $0.5m SPP*: 126.3m* $3.0m Total $3.0m Total: 976.8m SPP Timetable Record Date 8 May 2015 Liquidity (ave. last 12 mths): 51.0m/mth $2.1m/mth Clo
Slide 19: Summary
Summary For personal use only • Fisher East is a new nickel sulphide province – moving towards development • One of the best locations in the world – Western Australian Goldfields • New high grade copper discovery (Bonya) • Major zinc deposit (Teena) being drilled out by a major (Teck) 19
Slide 20: Thank You
For personal use only Thank You Rox Resources Limited Rox Resources Limited Level 1, 30 Richardson Street, West Perth, WA, 6005 AUSTRALIA T: (08) 9226 0044 F: (08) 9322 6254 E: admin@roxresources.com.au W: www.roxresources.com.au 20