Slide 1: Mt Forrest Iron Project – Western Australia Investor Presentation
For personal use only ABN 28 106 866 442 Mindax Limited Mt Forrest Iron Project – Western Australia Investor Presentation July 2011 Mindax Limited (MDX.ASX) www.mindax.com.au
Slide 2: Disclaimer
Disclaimer This presentation was prepared by Mindax Limited (ABN 28 106 866 442) (“MDX” or “the Company”), a public company listed on the Australian For personal use only Securities Exchange. The presentation is based on internal company reports, stock exchange announcements and technical informatio
Slide 3: Executive Summary
Executive Summary • Mindax Limited is an Australian exploration Company with the following key projects: For personal use only o Mt Forrest (Iron – DSO and Magnetite); o Yilgarn-Avon JV (Sedimentary Uranium); and o Mortlock JV (Copper-Gold). • Mt Forrest is the current key focus for the Company wher
Slide 4: Corporate Snapshot
Corporate Snapshot Issued Capital For personal use only Ordinary shares 151.5m Listed Options (MDXO) 64.9m Total Shares 151.5m Price (last trade 1/07/11) 27.5¢ 30 day VWAP 31¢ 12 Month High/Low 50¢ / 25¢ Market Capitalisation $41.7m 12 Month Liquidity $2.7m Net cash as at 30 April 2011 $2.3m Directo
Slide 5: Projects Overview
Projects Overview For personal use only Mt Forrest • The Mt Forrest Iron Project lies within the emerging Yilgarn Iron Province which has existing infrastructure including gas, rail and a port at Esperance. • Existing third party providers can defray start-up capital demands. • Kalgoorlie is an esta
Slide 6: Mt Forrest Iron Ore Focus
Mt Forrest Iron Ore Focus For personal use only Mt Forrest • MDX has discovered and built a significant iron ore inventory. Recent government granting of access to land and additional drilling has confirmed and extended meaningful hematite resources amongst the larger magnetite resource. MDX’s metal
Slide 7: Mt Forrest Infrastructure Attributes
Mt Forrest Infrastructure Attributes • Largest iron resource in the emerging Yilgarn Region. For personal use only • Tenure: MDX has secure granted Mining Leases over the Mt Forrest area. Social, Environmental and Heritage Management Plans in place with pertinent stakeholders and appropriate sur
Slide 8: Iron Resources in Western Australia
Iron Resources in Western Australia Mt Forrest is clearly an outstanding resource in southern WA For personal use only 695.3 700.0 Contained Iron DSO + Magnetite (Mt DMTU) 575.0 600.0 500.0 377.1 400.0 344.1 300.0 184.0 176.3 200.0 147.8 112.1 105.3 85.4 81.3 100.0 51.4 32.2 26.5 18.5 15.4 13.2 10.1
Slide 9: DSO Strategy
DSO Strategy • MDX is progressing through development preparations with intentions to mine the Mt Forrest Iron Project. Approvals are For personal use only being sought and infrastructure partners are being aligned (including rail and port). • Mindax is pursuing an opportunity to explore a fast trac
Slide 10: DSO Project Plan
DSO Project Plan For personal use only MT FORREST DSO 2H 2011- 1H 2013 PROGRAM Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Work Program Resource Definition-Drilling Metallurgical Testwork Prefeasibility-Definitive Stud
Slide 11: Current Iron Resource & DSO Targets
Current Iron Resource & DSO Targets For personal use only Corella Parrot North Toucan Paradise Currawong Bore Mitchell Jason's Find New DSO targets Current Resource Grey - primary magnetite Rosella Red - regolith mag-hematite Cabaret Emu Bore Cassowary North Slide 11
Slide 12: DSO Project Base
DSO Project Base Project Parameters For personal use only • Indicated low cost profile production. • High ore recoveries. • Coarse and soft materials indicate low operating expenditure. • Third party providers of rail and power reduce capital expenditure. • Conceptual business case modelling suggest
Slide 13: DSO Conceptual Business Case - Financials
DSO Conceptual Business Case - Financials For personal use only • Conceptual Base Case: o DSO Mine life of greater than 10 years. o 10 year production model would see 2.5Mtpa of ore beneficiated to 1.5 Mtpa to be exported (i.e. 30Mt results in 18Mt of DSO product) - assuming the conceptual explorati
Slide 14: DSO Conceptual Business Case - Breakdown of Capital Costs
DSO Conceptual Business Case - Breakdown of Capital Costs For personal use only Infrastructure Group A$M Preliminary estimate. Includes recourse delineation, Review, Procurement, Equipment & Construction 70 approvals, mine establishment, construction camp, water supply, power. Preliminary estimate.
Slide 15: Industry Comparables
Industry Comparables For personal use only Mindax compares favourably with iron focused peers demonstrating it is comparatively cheap on an Enterprise Value (EV) per tonne of resource in the ground (graph at bottom left) and sits somewhere in the middle of the range from an OPEX perspective but at t
Slide 16: Other Projects - Greenfields Discovery of New Uranium Province
Other Projects - Greenfields Discovery of New Uranium Province For personal use only • Yilgarn-Avon Uranium JV with Quasar Resources (Beverley, SA). • First mover advantage. • Control of 75% (275km) of prospective palaeochannel. • Suitable for In Situ Recovery (environmentally benign). • High grades
Slide 17: Other Projects - Gold / Copper Gold
Other Projects - Gold / Copper Gold For personal use only • Mortlock Project (copper-gold): Centre Forrest prospect has a significant blanket of >1,000ppm Cu within the regolith adjacent to known mineralisation of 30m @ 0.5% Cu, 0.5g/t Au. • Meekatharra North Project (gold): Chasing mineralised stru
Slide 18: Capital Raising - Structure
Capital Raising - Structure For personal use only • 1 for 5 renounceable rights at 25¢ to raise up to $7.6 million with an attaching 1 for 1 “piggy-back” option for eligible shareholders and sub-underwriters. • Terms of the options: o Primary Option – exercisable at 30¢ between 1 April 2012 and 30 A
Slide 19: Capital Raising - Use of Funds
Capital Raising - Use of Funds • For personal use only MDX raised approximately $2 million through a placement in April 2011; and now intends to raise up to a further $7.6 million via a 1:5 renounceable rights issue @ 25¢ per share to fund the Mt Forrest Pre-feasibility Study, exploration generally
Slide 20: Capital Raising - Indicative Timetable
Capital Raising - Indicative Timetable For personal use only Event 2011 Lodgement of Prospectus with ASIC 1 July Notice sent to Shareholders 4 July Ex-Date and rights trading commences 12 July Record Date for determining Shareholder entitlements 18 July Prospectus despatched to Shareholders 22 July
Slide 21: Investment Summary
Investment Summary • For personal use only MDX has an impressive portfolio of highly prospective exploration projects for a company with a market capitalisation of $42 million. • Mt Forrest is the largest iron resource in the emerging Yilgarn region and on a market capitalisation to resource tonnes
Slide 22: Competent Person Statement
Competent Person Statement For personal use only Competent Person The information in this presentation that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Gregory Bromley who is a member of the Australasian Institute of Mining and Metallurgy, with more th