Slide 1: Annual General Meeting Presentation
Friday, 4 December 2020 ASX Code: SRK ASX MARKET ANNOUNCEMENT Annual General Meeting Presentation Strike Resources Limited (ASX:SRK) (Strike) is pleased to attach a copy of a presentation that will be delivered at the Company’s Annual General Meeting to be held later today. AUTHORISED FOR RELEASE -
Slide 2: JORC Competent Person Statements
20201204 SRK ASX AGM Presentation.docx The information in this document that relates to Ore Reserves in relation to the Paulsens East Iron Ore Project (Pilbara, Western Australia) is extracted from the following ASX market announcement made by Strike Resources Limited on: • 30 October 2020: Paulsens
Slide 3: JORC Code (2012) Competent Person Statement – Solaroz Lithium Brine Project
20201204 SRK ASX AGM Presentation.docx The information in the original announcements that relate to these Other Exploration Results and Exploration Targets (as applicable) is based on, and fairly represents, information and supporting documentation prepared by Mr Hem Shanker Madan (Honours and Maste
Slide 4: Burke Graphite Competent Person Statement
20201204 SRK ASX AGM Presentation.docx The information in this document that relates to metallurgical test work in relation to the Burke Graphite Project (Queensland) is extracted from the following ASX market announcements made by Strike Resources Limited on: • 16 October 2017: Test-work confirms t
Slide 5: Strike Resources Limited Annual General Meeting
STRIKE RESOURCES LIMITED Annual General Meeting 4 December 2020 ASX:SRK
Slide 6: Strike Resources – Overview
Strike Resources – Overview § Strike Resources Limited (ASX:SRK Market capitalisation $30 Million @ 12.5 c per share) holds a diversified portfolio of quality Iron Ore and Battery Minerals projects in Australia and South America § Current focus is development of Paulsens East Iron Ore Project in Pil
Slide 7: Strike has the leadership, technical resources and experience to deliver
Strike has the leadership, technical resources and experience to deliver Managing Director - William Johnson Director - Malcolm Richmond MA (Oxon), MBA,MAICD BSc Hons (Metallurgy) and B. Comm. Merit (Econs) (UNSW) Mr Johnson holds a Masters degree in Engineering Science from Mr Richmond has 30+ year
Slide 8: Paulsens East Iron Ore
PAULSENS EAST IRON ORE 4
Slide 9: Paulsens East – Overview
Paulsens East – Overview § Strike has completed a Feasibility Study1 on its 100% owned Paulsens East Iron Ore Project (Paulsens East) located in the Pilbara Region of WA, circa 200kms west of Paraburdoo and 8kms from the Paulsens Gold Mine (owned by Northern Star:NST) § Paulsens East has a high grad
Slide 10: Paulsens East consists of a ~3km outcropping ridge of high-grade hematite
Paulsens East consists of a ~ 3km outcropping ridge of high-grade hematite iron ore mineralisation rising to 60 metres, located in the West Pilbara Paulsens East Ridge, facing North East Paulsens East Ridge, facing East 6
Slide 11: A JORC Indicated Mineral Resource of 9.6 Million tonnes @ 61% Fe has been defined
A JORC Indicated Mineral Resource of 9.6 Million tonnes @ 61% Fe has been defined, including a Probable Ore Reserve of 6.2 Million Tonnes @ 59.9% Fe § Hematite Iron ore mineralisation, occurring as three main bands of very high grade (+64%) iron rich hematite conglomerate along 3 Km strike length. §
Slide 12: The proposed mine has a very small physical footprint
The proposed mine has a very small physical footprint and is suitable for conventional drill and blast open pit mining § Mining to start at ‘Main Pit’ (between Section 2 and Section 3) . § Pioneering Fleet with 50 tonne excavator to access top of ridge and establish first few benches. § Production F
Slide 13: Project Site Layout
1 0 t 1 430000mE* E 432000mE E 434000mE . Diversion Channel —7504000mN = os oe Ge A Water Storage Je SS Fuel Storage aa L ~~] Project Site Layout STRIKE JLUIRCES __ STRIKE RESOURCES LIMITED (ASX: SRK) www.strikeresources.com.au
Slide 14: Upside potential exists to expand and extend mine life
Upside potential exists to expand and extend mine life Targets 1.6Km Along Hematite Ridge1: § High grade mineralisation identified ~1.6kms to SE of deposit on the hematite ridge § Drill intercept and co-incident/nearby 63.55 – 66.2% surface samples. § Potential for 1.6km sub-surface mineralisation e
Slide 15: Mined ore will be simply crushed and screened before being loaded as DSO
Mined ore will be simply crushed and screened before being loaded as Direct Shipping Ore (DSO) onto 4–trailer (Quad) roadtrains 1 2 3 Iron ore collected from the mine.. ..crushed and screened… ..loaded into roadtrains. 11
Slide 16: Lump and Fines ore will be transported direct to Port Hedland
Lump and Fines ore will be transported from the mine direct to Port Hedland (Utah Point) - predominantly on good quality sealed roads 12
Slide 17: Feasibility Study Results
Feasibility Study demonstrates that Paulsens East will generate significant cashflows at current A$/US$ exchange rate and iron ore price. Financial Metrics Unit US$100/t Benchmark Price US$115/t Benchmark Price Life of Mine Revenue A$M 906 1,031 Operating Net Cashflow A$M 167 279 NPV A$M 140 227 IRR
Slide 18: Feasibility Study – Summary of Key Inputs/Assumptions
Feasibility Study – Summary of Key Inputs/Assumptions Key Inputs Units Value (LOM) US$/A$ Exchange Rate US$/A$ 0.70 Total Ore Production Mt 6.0 Mine Life Years 4 Annual Ore Production Mtpa 1.5 Lump: Fines Ratio Lump:Fines 75:25 Processing Losses % 4 Mining and Processing Costs A$/t 29 Haulage and Po
Slide 19: Capex and Pre-Start Costs Overview
Capex and Pre - Start Costs Overview CAPEX /PRE-START COSTS A$ Million Mining Administration Centre Setup 1.10 Water Bores, Fuel storage etc. 1.01 Civil Works - MOC 1.4 Haul Road Construction 5.3 Earthworks and Civils 1.9 Mobilisation and Setup 2.4 Mining Pre-Production 1.9 Contingency 0.7 Total 15.
Slide 20: Strike has made rapid progress to date
Strike has made rapid progress to date Milestones/Achievements to Date Mining Lease Granted ✓ Feasibility Study completed ✓ Resource Upgraded from JORC Indicated to Reserve Category ✓ Environmental Study – Level 1 Fauna and Flora Assessment completed ✓ Native Title Agreement executed with the PKKP ✓
Slide 21: Strike is now focusing on securing all approvals and permits
Strike is now focusing on securing all approvals and permits, negotiating with suppliers contractors and customers Pre-Production Activities Miscellaneous Licences applied for haulage and access roads Mining Permit application and submissions for permits, including Native Vegetation Clearance, Water
Slide 22: Paulsens East - Summary
Paulsens East - Summary Paulsens East has the potential to be a Low Capex, High Return project – a hard to find combination! ü Strong $167 Million cashflow over initial 4-year LOM, with plenty of upside potential ü Low $15.7 Million capex ü Conventional mining and dry processing – minimises producti
Slide 23: Strike – Corporate Profile and Recent Share Price Performance
Strike – Corporate Profile and Recent Share Price Performance Capital Structure Substantial Shareholders Issued Capital : 247.1 Million Bentley Capital Limited 21.265% Market Capitalisation (@12c) $30.9 Million Windfel Properties Limited 10.45% Cash and listed securities: $5.2 Million Directors Rece
Slide 24: Iron Ore - Peru, Lithium Brine - Argentina, Graphite - Queensland
Lithium Brine - Argentina Iron Ore - Peru Graphite - Queensland 20
Slide 25: Apurimac Iron Ore Project, Peru
Apurimac Iron Ore Project, Peru § JORC Indicated & Inferred Mineral Resource of 269.4Mt @ 57.3% Fe, 9.4% SiO2, 2.56% Al2O3 and 0.04% P 1 Magnetite ore with exploration upside § Peru Government plans a multi-user Andahuaylas Railway, which will connect Strike’s Apurimac Project to Port2 § Apurimac is
Slide 26: Prefeasibility Studies in 2008/2010 confirmed potential for Apurimac
Prefeasibility Studies in 2008 /2010 confirmed clear potential for development of Apurimac as a world class iron ore project1 § Attractive life-of-mine operating expenses § Open cut mine, low strip ratio (1.2 to 1.8) Principal deposit at Apurimac delivers low mining costs § Ore is high grade, coarse
Slide 27: Solaroz Lithium Brine, Argentina
Solaroz Lithium Brine, Argentina § Solaroz (SRK 90%1) is located in a highly prospective Location § 12,000 Hectares of concessions adjacent to Orocobre (ASX:ORE, Mkt.Cap. ~ A$1.4 Billion) and Lithium Americas (TSX:LAC, Mkt.Cap ~ C$1.4 Billion)2 § ORE (Salar de Jujuy JV with Toyota Tusho) is already
Slide 28: Conceptual Geological Model for Solaroz
Conceptual Geological Model for Solaroz Horizontal axes not to scale. This Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a JORC Mineral Resource and it is uncertain if further exploration will result in the estimation of a JORC Mineral Resource. 24
Slide 29: Burke Graphite, Queensland
Burke Graphite, Queensland § JORC Inferred Mineral Resource of 6.3 million tonnes @ 16.0% Total Graphitic Carbon (TGC) for 1,000,000 tonnes of contained graphite1 § Includes 2.3 million tonnes @ 20.6% TGC (with a TGC cut-off grade of 18%) for 464,000 tonnes of contained graphite § Mineralisation is
Slide 30: Strike Resources – Summary
Strike Resources – Summary § Strike has a quality portfolio of assets with differing time horizons § Strike’s immediate focus is to bring the Paulsens East iron Ore project into production mid-2021 § Paulsens East has the potential to significantly change the valuation of Strike given the near term
Slide 31: Disclaimer
Disclaimer This document has been prepared by Strike Resources Limited (the "Company” or “STRIKE”). No representation, expressed or implied, or warranty as to the accuracy or completeness of the information contained herein is made by any party and nothing contained herein shall be relied upon as a