Cullen Resources Limited · ASX:CUL
Cullen Resources — Shareholder Meeting (November 2008)
28 slides from Cullen Resources's shareholder meeting presentation, Nov 21, 2008
Slide 1: Annual general meeting
Annual general meeting For personal use only
Slide 2: Disclaimer
DISCLAIMER For personal use only IMPORTANT NOTICE This presentation has been prepared by Cullen Resources Limited ACN 006 045 790 (Cullen) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities
Slide 3: Cullen's Fundamentals
CULLEN’S FUNDAMENTALS For personal use only Directors Dr Chris Ringrose (Managing Director) Dr Denis Clarke (Chairman) Wayne Kernaghan (Company Secretary) John Horsburgh (Director) Grahame Hamilton (Director) Chief Geologist Dr Matthias Cornelius Number of shares ~555M with18M unlisted options Cash
Slide 4: Current Position
CURRENT POSITION For personal use only CASH - $6.5 million (30/9/08) Two substantial shareholders: Aquila - ~17% and AMCI - ~18% Contributing to Definitive Feasibility Study for iron ore development project Substantial, multi-commodity exploration portfolio
Slide 5: Cullen Share Price History – 1 Year
CULLEN SHARE PRICE HISTORY – 1YR For personal use only Cullen Aquila 16.00 0.16 14.00 0.14 12.00 0.12 10.00 0.10 8.00 0.08 6.00 0.06 4.00 Dec Feb April June Aug Oct 2007 2008 2008 2008 2008 2008
Slide 6: Cullen: Cash Plus
CULLEN : CASH PLUS For personal use only 30% of JORC Fe Well- Resource - positioned 79.5Mt @ project 55.34% Fe portfolio 8 JV’s – Leading edge including geochem for major new projects partners Measured Project Generation
Slide 7: Cullen Projects
For personal use only CULLEN PROJECTS
Slide 8: Strategy Going Forward
STRATEGY GOING FORWARD For personal use only MULTI-PRONGED, CASH-CONSERVATIVE APPROACH 1. EXPLORATION ACTIVITY FROM ON-GOING JOINT VENTURES – MULTICOMMODITY TARGETS : Fe, U, Ni, Au 2. BUILDING TARGETS ON SEVERAL PROJECTS FOR POSSIBLE FARM-OUT – W,U, Cu-Au, Pb-Zn 3. SEEKING EARLY CASH FLOW FROM DISCO
Slide 9: Current JVs and Planned Activities
CURRENT JV’S (CULLEN CARRIED) AND PLANNED ACTIVITIES For personal use only BHPB (Ni) – HELICOPTER-BORNE, EM SURVEY PLANNED AT GUNBARREL THUNDELARRA (U) - RADIOMETRIC AND TEM ANOMALIES TO BE TESTED INTREPID (Au) – FOLLOW-UP OF SOIL ANOMALIES FMG (Fe) - 2 JV’s IN PILBARA – EARLY STAGE COMPLETED, RC TO
Slide 10: Cullen's Project Pipeline
CULLEN’S PROJECT PIPELINE For personal use only Definitive Feasibility Study Targeting Mineralised Trends Advanced Exploration Early Stage
Slide 11: Mt Stuart Iron Ore JV
MT STUART IRON ORE JV (Cullen 30% and contributing - API 70%) For personal use only Mt Stuart JV owns Catho Well Deposit 79.5Mt @ 55.34% Fe (CULLEN’S SHARE – 23.85Mt) Part of West Pilbara Iron Ore Project Managed by API (50:50 Aquila Resources Ltd and AMCI Investments Pty Ltd) TOTAL RESOURCES = 430M
Slide 12: Mt Stuart Iron Ore JV
MT STUART IRON ORE JV For personal use only 79Mt @ 55.34% Fe Catho Well Channel Iron Deposit 18.5% Mt Stuart JV 18.5% WEST PILBARA IRON ORE PROJECT TOTAL PIE = 430Mt @ 56.86% Fe 81.5% CULLEN’S SHARE ~23.85Mt @ 55.34% Fe API-Red Hill Iron Ltd (RHI JV) API-CUL (Mt Stuart JV)
Slide 13: Mt Stuart JV – Definitive Feasibility Study in Progress
MT STUART JV – DEFINITIVE FEASIBILITY STUDY IN PROGRESS For personal use only
Slide 14: Ashburton and West Pilbara JV Projects
ASHBURTON AND WEST PILBARA JV PROJECTS For personal use only
Slide 15: Tunnel Creek JV – Targets Defined
TUNNEL CREEK JV – TARGETS DEFINED For personal use only
Slide 16: Forrestania Project Ni
FORRESTANIA PROJECT Ni For personal use only Hannans Reward – 80% Cullen 20% free carried 12km north of Western Areas’ Flying Fox nickel deposit EM ANOMALIES – “TN1”
Slide 17: Gunbarrel Gold – Cullen Mostly 100%
GUNBARREL GOLD – CULLEN MOSTLY 100% For personal use only New target corridor for gold (12 x 3 km) marked by gold nugget finds and geochem anomalies in laterite. Gunbarrel greenstone belt lies between two major Au provinces - Yandal in the west and Duketon in the east
Slide 18: Gunbarrel Gold Targets
GUNBARREL GOLD TARGETS For personal use only Aeromagnetic Image Interpreted Bedrock
Slide 19: Agnew Gold – Cullen 100%
AGNEW GOLD - CULLEN 100% For personal use only N 5km Palaeochannel for calcrete- calcrete- hosted uranium Gold targets = palaeoplacers targets and buried bedrock (?greenstone stratigraphy from aeromagnetics interpretation)
Slide 20: Agnew Project
For personal use only AGNEW PROJECT
Slide 21: Coolgardie Gold – High-Grade Gold Hits at Melanie Anne
COOLGARDIE GOLD – CULLEN 100% HIGH--GRADE GOLD HITS AT “MELANIE ANNE” HIGH For personal use only COOLGARDIE PROJECT - AERIAL PHOTO
Slide 22: High-Grade Gold Hits at Melanie Anne
HIGH--GRADE GOLD HITS AT “MELANIE ANNE” HIGH FOLLOW--UP RC DRILLING PLANNED FOLLOW For personal use only
Slide 23: Killaloe Gold – Cullen 100%
KILLALOE GOLD – CULLEN 100% For personal use only
Slide 24: Possible Carbonatite, NE Goldfields, WA
POSSIBLE CARBONATITE NE GOLDFIELDS, WA – CULLEN 100% For personal use only AEROMAGNETIC ANOMALIES – drill test, possible Rare Earth bearing intrusive Plan to drill current Quarter - awaiting drill rig
Slide 25: Amadeus Basin Uranium – Cullen 100%
AMADEUS BASIN URANIUM – CULLEN 100% TENEMENT APPLICATION/PREVIOUS WORK For personal use only 20kilometres
Slide 26: Amadeus Basin Tenement Application
AMADEUS BASIN TENEMENT APPLICATION APPLICATION-- RADIOMETRICS For personal use only 20kilometres
Slide 27: Cullen's Agenda Going Forward
CULLEN’S AGENDA GOING FORWARD For personal use only CONTRIBUTE IN PARTNERSHIP TO POTENTIAL PILBARA IRON ORE DEVELOPMENT PROJECT – DEFINITIVE FEASIBILITY STUDY IN PROGRESS PROGRESS EXPLORATION TARGETING AND EVALUATION FOCUSED ON GOLD FOR EARLY CASH FLOW ADVANCE URANIUM EXPLORATION PORTFOLIO GENERATE,
Slide 28: Competent Person Statement
COMPETENT PERSON STATEMENT For personal use only The information in this report that relates to Exploration Results is based on information compiled by Dr Chris Ringrose, Managing Director, Cullen Resources Ltd who is a Member of the Australian Institute of Mining and Metallurgy. Dr. Ringrose is a f
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