Eq Resources Limited · ASX:EQR
Eq Resources — Speciality Metals International — Shareholder Meeting (November 2019)
36 slides from Eq Resources's shareholder meeting presentation, Nov 18, 2019
Slide 1: Annual General Meeting
ASX Code: SEI | www.specialitymetalsintl.com.au Annual General Meeting 18 November 2019
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements Some statements in this presentation relate to the future and are forward looking statements. Such statements may include, but are not limited to, statements with regard to intention, capacity, future production and grades, projections for sales growth, estimate
Slide 3: Chairman's Welcome
CHAIRMAN’S WELCOME BOARD OF DIRECTORS Russell Krause Executive Chairman Stephen Layton Oliver Kleinhempel Zhui Pei Yeo Non-Executive Director Non-Executive Director Non-Executive Director Capital Structure Top 5 Shareholders ASX Code SEI Hilux Resources Pty Ltd 7.12% Share Price (52 Week High/Low) $
Slide 4: Highlights: Mt Carbine, Chile
HIGHLIGHTS MT CARBINE • Speciality Metals was pleased to announce on 2 July 2019 that it had completed the 100% acquisition of Mt Carbine Quarries Pty Ltd (Mt Carbine Quarries) an entity that owned and operated the Mt Carbine quarry and holds Mining Leases ML 4867 and ML 4919. Speciality Metals’ who
Slide 5: Highlights: Corporate
HIGHLIGHTS CORPORATE • On 2 July 2019 Speciality Metals announced that it would be undertaking a pro-rata non-renounceable shareholder entitlement offer to raise up to approximately $2.9 million under which all eligible shareholders would be entitled to 1 new share for every 5 existing shares held i
Slide 6: Company Overview
COMPANY OVERVIEW DIVERSIFIED SPECIALTY RESOURCES, MINING & EXPLORATION COMPANY World-Class Tungsten Assets - Mt Carbine, Queensland • Mt Carbine Tungsten Mine – ML 4867 & ML 4919 acquired 28 June 2019. • Joint Venture in place with Cronimet Asia Pte Ltd to recommence production from the Tailings & S
Slide 7: Tungsten
TUNGSTEN INDUSTRIAL ENABLING METAL WITH STRATEGIC IMPORTANCE With a density of 19.25 g/cm3, Aeronautical & Automobile Manufacturing Military & Mining tungsten is also among the heaviest metals. Rail & Heavy Earthmoving Highest melting point of all metals at 3,422 ± 15 oC and a boiling point which co
Slide 8: Tungsten Market
TUNGSTEN MARKET WORLD REFINED TUNGSTEN PRODUCTION, CONSUMPTION, PRICE OUTLOOK Slide 7
Slide 9: Mt Carbine Tungsten Mine: Location
MT CARBINE TUNGSTEN MINE LOCATION The historical Mt Carbine Tungsten Mine is located ~130km by Mt Carbine sealed highway from Tungsten the port of Cairns in Project North Queensland, Australia. The Mt Carbine Mining Leases cover ~367 hectares. Mt Carbine Mining Leases cover ~367 hectares. The northe
Slide 10: Mt Carbine Tungsten Mine: History
MT CARBINE TUNGSTEN MINE HISTORY • Tungsten discovered at Mt Carbine in 1895. • Mining consisted of small scale, selective underground mining of the quartz veins until 1919 when world wolframite prices collapsed. • Mt Carbine mined sporadically from 1919 to 1968. • In 1972, Queensland Wolfram Ltd (Q
Slide 11: Mt Carbine Tungsten Resources
MT CARBINE TUNGSTEN MINE MT CARBINE MINING LEASES CONTAIN Tailings Dam THE FOLLOWING WORLD-CLASS TUNGSTEN RESOURCES: Low Grade Stockpile Mining Leases cover ~ 367 hectares 2012 JORC Compliant Resource Resource Summary - July 2014 Tungsten Resource as WO3 Cut-off Grade Tonnes WO3 WO3 Resource Resourc
Slide 12: Mt Carbine General Arrangements
MT CARBINE TUNGSTEN MINE GENERAL ARRANGEMENTS Slide 11
Slide 13: Staged Development Approach
MT CARBINE TUNGSTEN MINE STAGED DEVELOPMENT APPROACH June 2019 July 2019 2020 Purchase of Quarry & MLs Concluded Retreatment Plant Refurbishment Commence Stockpile Ore Sorter Trials Commencement of Joint Venture + Start work to re-establish Open Pit Mining + Develop Exploration Program – EPMs & appl
Slide 14: Retreatment Plant Stage 1
MT CARBINE TUNGSTEN MINE • Tailings Retreatment covered by same Environmental Authority as that for the stockpiled material.. • Previously produced ~142 tonnes of tungsten concentrate WO3. RETREATMENT PLANT • Good recovery rates from the <0.2mm fractions, recovered ~60% of contained metal. • Recover
Slide 15: Tailings Retreatment
MT CARBINE TUNGSTEN MINE – TAILINGS RETREATMENT • Retreatment process will primarily focus on the recovery of the coarse scheelite, Ca[Wo4], still contained within the existing tailings stockpile. • Wolframite and Scheelite fines will also be targeted for recovery. An ultrafine recovery program will
Slide 16: Plant Refurbishment Has Commenced
MT CARBINE TUNGSTEN MINE – TAILINGS RETREATMENT PLANT REFURBISHMENT HAS COMMENCED Redundant Plant Decommissioned Process Water Pumps Installed Wet Screen Hopper Electrical Installation Electrical Installation Concrete Formwork Completed Wet Screen & Jig Wet Screen Wet Screenof Wet Screen Positioning
Slide 17: Plant Refurbishment Has Commenced
MT CARBINE TUNGSTEN MINE – TAILINGS RETREATMENT PLANT REFURBISHMENT HAS COMMENCED Grasshopper Conveyors Jig Steel support structures & equipment positioned in preparation for electrical installation and commissioning. Slide 16
Slide 18: Plant Refurbishment Has Commenced
MT CARBINE TUNGSTEN MINE – TAILINGS RETREATMENT PLANT REFURBISHMENT HAS COMMENCED Electrical Installation Electrical Installation Slide 17
Slide 19: Plant Refurbishment Has Commenced
MT CARBINE TUNGSTEN MINE – TAILINGS RETREATMENT PLANT REFURBISHMENT HAS COMMENCED Over-belt Magnet Steel Support Structre Electrical Installation Electrical Installation Rolls Crusher Electrical Installation Electrical Installation Slide 18
Slide 20: Plant Refurbishment Has Commenced
MT CARBINE TUNGSTEN MINE – TAILINGS RETREATMENT PLANT REFURBISHMENT HAS COMMENCED Electrical Installation – Existing Retreatment Plant Process Water Pipeline Slide 19
Slide 21: Stockpiled Material Stage 2
MT CARBINE TUNGSTEN MINE • Covered under Environmental Authority EPML00956913 issued August 2013. • Covers existing tungsten stockpiles [~12 million tonnes of at-surface stockpiled material]. STOCKPILED MATERIAL • X-Ray Ore Sorters to be utilised to remove tungsten rich quartz from the stockpiled ma
Slide 22: Open Pit & Underground Mining
MT CARBINE TUNGSTEN MINE OPEN PIT & UNDERGROUND MINING STAGE 3 • Mining Leases in place. • Permitting required before commencement of mining. • 440m and 415m decline ramps already in place. • Expansion of Mining Leases required to continue the development of the Open Pit and underground mining oppor
Slide 23: Open Pit & Underground Mining
MT CARBINE TUNGSTEN MINE OPEN PIT & UNDERGROUND MINING Perspective view of WO3% model blocks looking west, incorporating the South Wall Fault and the Mt Carbine pit, Mt Carbine. Open Pit - Quartz Veining Slide 22
Slide 24: Open Pit & Underground Mining
MT CARBINE TUNGSTEN MINE OPEN PIT & UNDERGROUND MINING Perspective view of WO3% model blocks looking NNW, Mt Carbine. Schematic plan of present pit and location of Iron Duke prospect (blue oblong outline). Open Pit - Quartz Veining Slide 16 Slide 23
Slide 25: Exploration Permits
MT CARBINE EXPLORATION PERMITS EXPLORATION UPSIDE - TUNGSTEN EXPLORATION PERMITS Two prospects - Iron Duke Mining andLeases Petersens Lode exist within EPM ML 4867 & ML 4919 14872 and Mt Holmes in EPM 14871. These prospects are dominated by scheelite mineralisation. Historical mapping and sampling i
Slide 26: EPM 14872 – Exploration Upside
MT CARBINE EPM 14872 – EXPLORATION UPSIDE IRON DUKE • Present resource estimate does not include any Iron Duke mineralisation. Lies within the planned open-cut envelope. Present mapped • Average true width 8m from 6 drill holes with an average Low grade extent of Iron Duke weighted grade of .32% WO3
Slide 27: Quarry Operations
MT CARBINE TUNGSTEN MINE - QUARRY OPERATIONS Slide 26
Slide 28: Quarry Operations
MT CARBINE TUNGSTEN MINE – QUARRY OPERATIONS • Fully permitted, established business in operation for over 20 years within the Mt Carbine Mining Leases. • Speciality Metals’ wholly owned subsidiary, Mt Carbine Quarrying Operations Pty Ltd, commenced operating the quarry as from 1 July 2019. • Offers
Slide 29: Quarry Operations: Products
MT CARBINE TUNGSTEN MINE – QUARRY OPERATIONS • Largest and most northern hard rock quarry with an extensive range of: * Road Base * Crushed Rock * Mattress Rock * Crushed Fill * Concrete Aggregate * Crusher Dust * Erosion Control Rock * Drainage Rock * Ballast * Gabion * Precoat Aggregate * Clean So
Slide 30: Quarry Operations: Products
MT CARBINE TUNGSTEN MINE – QUARRY OPERATIONS • Largest and most northern hard rock quarry with an extensive range of: Approved for erosion control along the eastern shoreline as * Road Base * Crushed Rock * Mattress material is clean and non-acidic. * Crushed Fill * Concrete Aggregate * Crusher Dust
Slide 31: Chilean Exploration Concessions
CHILEAN EXPLORATION CONCESSIONS The Company’s wholly owned Chilean subsidiary, Special Metals Chile SpA, holds the following Exploration Concessions: Salar Pintados • Salar de Bellavista - 5 Concessions • Salar de Pintados - 15 Concessions Salar Bellavista Upon the completion of a detailed desktop a
Slide 32: Chilean Exploration Concessions: Strategy
CHILEAN EXPLORATION CONCESSIONS EXPLORATION & BUSINESS STRATEGY • Speciality Metals is focused not only on lithium but also other valuable minerals such as boron, potassium, iodine and magnesium and has concentrated its efforts in salars:- o Located in the central belt of Northern Chile; o That are
Slide 33: Gold Exploration Licences
GOLD EXPLORATION LICENCES GOLD The following gold exploration licences are held in New South Wales: • Exploration Licence 6648 – Crow Mountain • Exploration Licence 8024 – Panama Hat Above map shows maximum gold values obtained by rock chip or mineralised rocks by previous explorers on EL 8024. Loca
Slide 34: EL 8024 - Panama Hat
GOLD EXPLORATION LICENCES EL 8024 - PANAMA HAT • About 30km south east of Broken Hill covering ~80% of the historical gold workings in the Broken Hill district. • Workings mostly date from 1931-1935 and occur along an arcuate line of quartz veining with associated iron oxides. • Previous exploration
Slide 35: EL 6648 - Crow Mountain
GOLD EXPLORATION LICENCES EL 6648 - CROW MOUNTAIN DRILL HOLE ICK001 From (m) 76.3 To (m) 78.45 Interval (m) 2.15 Au g/t 1.85 • Approximately 20km south east of Barraba in northern 117.4 172 54.6 0.45 NSW. Straddles part of the Peel Fault, a mega structure Including: 140 148 8 1.27 that geologically
Slide 36: 2019–2020 Outlook / Thank-you
2019 – 2020 OUTLOOK • Streamline production from Tailings Retreatment and focus on revenues. • Commence x-ray ore sorter trials Quarter 1, 2020. • Focus on best practice, lower costs & improved recoveries to optimise revenues. • Finalise the Mt Carbine mapping and core sample review. • Apply to Gove
Speciality Metals International — Shareholder Meeting (November 2019) on 6ix