Eastern Resources Limited · ASX:EFE
Eastern Resources — Eastern Iron — Shareholder Meeting (November 2010)
14 slides from Eastern Resources's shareholder meeting presentation, Nov 3, 2010
Slide 1: Eastern Iron Limited Extraordinary General Meeting
For personal use only EASTERN IRON LIMITED EXTRAORDINARY GENERAL MEETING November 3, 2010 ASX Code: EFE 26 March 2009 …iron’s new horizon
Slide 2: Disclaimer
Disclaimer This release may include forward-looking statements. These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the co
Slide 3: NSW Iron Project
NSW IRON PROJECT • Eastern Iron acquired an 80% interest in 15 project For personal use only EL’s from PlatSearch NL in 2008 – Under JV with PlatSearch, Eastern Iron required to expend $2M by Nov 2011 and provide PlatSearch with a free carry to the completion of a bankable feasibility study and a de
Slide 4: NSW Iron Project concept study
NSW IRON PROJECT • In late 2009 the Company announced the results of a For personal use only concept development study: – Low capital cost dry mining operation with screening and magnetic separation to 1.5Mtpa “direct shipping” iron product. – Metallurgical testwork indicated low recovery to product
Slide 5: 3E Joint Venture
3E Joint Venture For personal use only • Conditional Agreement announced in August 2010 • JV between Eastern Iron and 3E Steel Pty Ltd (PlatSearch not a party to the agreement) and covers 13 of the 17 project tenements. • 3E to spend a minimum $600,000 in first year on agreed program of bulk samplin
Slide 6: Eastern – PlatSearch Tenement Swap Agreement
Eastern – PlatSearch Tenement Swap For personal use only Agreement • Project tenements split between 13 in the Eastern Iron – 3E JV and 4 in an Eastern Iron – PlatSearch JV • Identified resource split between the 2 JV’s: 352Mt in Eastern Iron – PlatSearch JV areas and 275Mt in Eastern Iron – 3E JV a
Slide 7: For personal use only
For personal use only …iron’s new horizon
Slide 8: Eastern Iron – PlatSearch Tenement Swap Agreement benefits
Eastern Iron – PlatSearch tenement For personal use only Swap Agreement • Benefits for Eastern Iron – 3E will fund a metallurgical program into making a saleable product and therefore attempt to unlock value in the project. – Tenement Swap agreement removes Eastern Iron’s obligations under the 2008
Slide 9: Tenement Swap Agreement shareholder approval
Eastern Iron – PlatSearch For personal use only Tenement Swap Agreement • Because PlatSearch and Eastern are related parties (PTS 48.65% shareholding in EFE) the Tenement Swap agreement requires Eastern Iron shareholder approval. • Geos Mineral Consultants’ Independent Report has concluded that the
Slide 10: Eastern Iron - Update: Corporate Strategy
Eastern Iron - Update For personal use only Corporate Strategy: – Focus on relatively advanced projects in Iron, Coal and Gold both nationally and internationally – Develop promising Hawkwood Iron Project – Seek ground positions for metallurgical coal in proven areas such as the Hunter and Bowen Bas
Slide 11: Hawkwood Iron – Vanadium - Titanium
Hawkwood Iron – Vanadium - Titanium For personal use only …iron’s new horizon
Slide 12: Hawkwood Iron – Vanadium - Titanium
Hawkwood Iron – Vanadium - Titanium For personal use only • Recently completed RC drill program confirmed magnetite-bearing gabbro (ferrigabbro) as the source of 12km long magnetic anomaly. • Thick sections of ferrigabbro (up to 112m thick down hole and assaying up to 35% Fe) with exploration target
Slide 13: Coal
Coal For personal use only •Two competing applications in the Bowen Basin – proven coal areas EFE Applications …iron’s new horizon
Slide 14: Thankyou Questions?
For personal use only Thankyou Questions? …iron’s new horizon