Pursuit Minerals Ltd · ASX:PUR
Pursuit Minerals — Investor Presentation (February 2019)
26 slides from Pursuit Minerals's investor presentation, Feb 7, 2019
Slide 1: Scandinavian Vanadium Projects
+ Discovery + Resource Definition For personal use only + Value Capture Scandinavian Vanadium Projects February 2019
Slide 2: Forward Looking Statement
Forward Looking Statement For personal use only This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are b
Slide 3: Compelling Investor Proposition – Vanadium Projects
Compelling Investor Proposition – Vanadium Projects • Vanadium demand rising & supply constrained For personal use only • Low risk, Tier One Project Locations ▪ Finland and Sweden • Projects show major potential, producing exceptionally high grade vanadium concentrates • Management with excellent tr
Slide 4: Company Snapshot
Company Snapshot ASX:PUR For personal use only Quality assets Capital Structure1 Capital Structure • Finland & Sweden vanadium • Shares: 178 million • Teck Aust. 7.3% • Options: 55M (10c, 31 Oct 2021) • Suburban Holdings 2.6% • Favourable mining jurisdictions • Share price: $0.047 • Lowell Resources
Slide 5: Vanadium Deficit Forecast
Vanadium Deficit Forecast Supply Demand For personal use only • Production peaked in 2014 • New Chinese rebar standards increase consumption 30% • Mine closures – Mapochs, Windimurra, • Battery demand grew 34% in 2017, 60% CAGR 2018-2022 • Decreased vanadium production from slag in China • Price eas
Slide 6: Vanadium Redox Flow Batteries
Vanadium Redox Flow Batteries • Suitable for large scale energy storage (wind farms, For personal use only solar) • Non-flammable • Excellent re-chargeability • Up to 10,000 cycles vs max 1,000 cycles for Li-Ion • Maintain 90% of their storage capacity over 20 years • Batteries suitable for single h
Slide 7: Drivers for Demand Growth – Energy Storage
Drivers for Demand Growth – Energy Storage • VRFB market is expected to grow For personal use only Global cumulative storage deployments from US$230 Million in 2018 to (GWh) US$946 Million by 2023 (ASDR) 150 • Over the period from 2018 to 2022, the VRFB market is 113 anticipated to expand at a CAGR
Slide 8: Vanadium Project Portfolio
Vanadium Project Portfolio • High grade vanadium magnetite concentrate For personal use only projects in historical mining regions • Mining friendly, well established regulatory regimes – Finland ranked #1 mining location, Sweden #16 (Fraser Institute 2017) • Pursuit holds 100% interest • Historical
Slide 9: World Class Vanadium Magnetite Concentrate Grades
World Class Vanadium Magnetite Concentrate Grades For personal use only • Koitelainen Vosa project generated magnetite concentrates with grades of up to 3.4% with Inferred Mineral Resource Grade of 2.3% V2O51 • Airijoki project generated magnetite concentrates with grades of up to 2.3% V2O5 and aver
Slide 10: Sweden Vanadium Projects
Sweden Vanadium Projects For personal use only • Exploration Licences covering five project areas in Sweden, granted in August 2018 • Sumåssjön, Kramsta, Simesvallen and Kullberget in Central Sweden • Airijoki in northern Sweden • Exploration Licences allow geophysical surveys, mapping, sampling and
Slide 11: Airijoki Project
Airijoki Project • Four Exploration Licences covering 32km2 For personal use only • 3.5km magnetic anomaly • Historical drill holes resampled in August 20181 ▪ 178.3m @ 1.33% V2O5, (magnetite concentrate) ▪ 16m @ 2.05% V2O5 , (magnetite concentrate) ▪ 10m @ 2.01% V2O5 (magnetite concentrate) • Miner
Slide 12: Airijoki Project: SW Mag Zone Exceptionally High Grade Mag Con
Airijoki Project: SW Mag Zone Exceptionally High Grade Mag Con • 9 new drill holes1 For personal use only • Exceptionally thick and high grade vanadium magnetite concentrates from Southwest Magnetic Zone ▪ 178.0m @ 1.9% V2O5 including; ➢ 122.0m @ 2.2% V2O5 and; ➢ 30.0m @ 2.3% V2O5 ▪ 213.2m @ 1.8% V2
Slide 13: Airijoki Project: NE Mag Zone
Airijoki Project: NE Mag Zone For personal use only • Entirely new zone of vanadium mineralisation over 1.9km strike length1 • Average magnetite concentrate grade is 1.6% V2O5 • Maximum magnetite concentrate grade is 1.8% V2O5 • Mineralisation is 6.0 – 56.0m down hole width • Average width of minera
Slide 14: Airijoki Project: SW Mag Zone and NE Mag Zone
Airijoki Project: SW Mag Zone Airijoki Project: NE Mag Zone For personal use only • 71.0m @ 1.9% V2O5 including; • 27.0m @ 1.7% V2O5 including; • 14.0m @ 2.3% V2O5 • 9.0m @ 1.8% V2O5 13
Slide 15: Airijoki Project – Next Steps
Airijoki Project – Next Steps Event Timing For personal use only Final drill results February 2019 Initial Inferred Mineral March 2019 Resource Scoping Study April 2019 Commence Feasibility June 2019 Study Infill Drilling to define July 2019 Indicated Resources Completion of Feasibility Mid 2020 Stu
Slide 16: Finland Projects
Finland Projects • Koitelainen For personal use only • Resampled historic drill holes confirmed high grade vanadium magnetite concentrate • Vosa Prospect - Inferred Mineral Resource of 116Mt containing 5.8Mt of magnetite @ 2.3% V2O5 at 5% mass recovery1 • Karhujupukka • Vanadium discovered by the Ge
Slide 17: Koitelainen Vosa Prospect – Initial JORC Inferred Resource
Koitelainen Vosa Prospect – Initial JORC Inferred Resource • 16 holes drilled in 1970s and For personal use only 1980s were resampled1 • Most holes produced vanadium magnetite concentrates exceeding 2.0% V2O5 • Magnetite concentrates with exceptional vanadium grades • 38.2m @ 2.6% V2O5 • 6.2m @ 3.3%
Slide 18: Koitelainen Vosa Prospect
Koitelainen Vosa Prospect For personal use only ▪ Extremely high grade of 2.3% V2O5 in magnetite concentrate, in the top echelon globally1 ▪ Only 2 mines produce V2O5 magnetite concentrate above 2%1 ▪ Mineralisation is open, north, south and east2 ▪ Simple geology ▪ Mineralisation comes to surface 1
Slide 19: Koitelainen Vosa Prospect – Major Progress Imminent
Koitelainen Vosa Prospect – Major Progress Imminent For personal use only Event Timing Inferred Resource February 2019 Statement Scoping Study April 2019 Feasibility Study April 2019 Decision Commencement of June 2019 Feasibility Study First Drilling of December 2019 Feasibility Study Completion of
Slide 20: Karhujupukka Project Drilling Completed
Karhujupukka Project Drilling Completed For personal use only • Pursuit holds two Exploration Licences within Karhujupukka Reservation: ▪ Karhujupukka North covers 1km2 ▪ Karhujupukka South covers 5.5km2 • Two-hole drill program completed • Program tested a +350m long conductor identified from an hi
Slide 21: Project Development Concept
Project Development Concept1 • Stage 1 - DSO Operation ▪ Mine, crush, floatation, magnetic separation For personal use only ▪ Produce high-grade vanadium magnetite concentrate (>2% V2O5 ) ▪ Sell to Global Markets • Advantages ▪ Simplifies Feasibility Study ▪ Lowers pre-production capital expenditure
Slide 22: Key Advantages of Pursuit’s Scandinavian Vanadium Projects
Key Advantages of Pursuit’s Scandinavian Vanadium Projects For personal use only Scandinavian Vanadium Projects Access to infrastructure 10-15 km Power Costs Approx. 10c/kwh Proximity to markets German Markets across the Baltic Vanadium Smelter access Smelter planned for Raahe (Finland) V2O5 Magneti
Slide 23: Positioned for the Battery Revolution
Positioned for the Battery Revolution • Vanadium demand for batteries predicted to grow at 60% CAGR 2018-2022 For personal use only • World leading mining destinations, with cheap power, excellent access to infrastructure • Koitelainen Vosa Prospect and Airijoki Project confirmed as producing extrem
Slide 24: Competent Person’s Statement
Competent Person’s Statement Statements contained in this presentation relating to exploration results, historical exploration results, historical estimates of For personal use only mineralisation and Exploration targets are based on, and fairly represents, information and supporting documentation p
Slide 25: For personal use only
For personal use only ASX: PUR Jeremy Read Managing Director Email: Jeremy@pursuitminerals.com.au Mobile: + 61 447 379 744 26
Slide 26: Appendix – Data For Slide
Appendix – Data For Slide 8 Company Code Project Project Stage Resources Classification Resource In-Situ Magnetic Information Source For personal use only (Mt) Grade Concentrate (V2O5%) Grade (V2O5%) Pursuit ASX:PUR Koitelainen Scoping Study Inferred 116.4 0.4 2.3 ASX Announcement 6 Feb Minerals 201
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