AVIRA RESOURCES LTD — AGM Information 2013

Nov 6, 2013

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ABN: 38 131 715 645 MGT Resources Limited 2.05B/68 York Street Sydney, NSW 2000 Australia

T: +61 2 9262 1122 F: +61 2 9299 5175

7 November 2013

Manager Companies Company Announcements Office Australian Securities Exchange Limited Level 4, Stock Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam,

In accordance with the Listing Rules, I attach a copy of the Chairman’s address and Managing Director’s presentation to be delivered to shareholders of MGT Resources Limited at the Annual General Meeting of the Company to be held today.

Yours faithfully,

Alexander Moody Company Secretary

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CHAIRMAN’S ADDRESS

My name is Jonathan Back and on behalf of the board of Directors I wish to welcome you to the Annual General Meeting of MGT Resources Limited, our first as an ASX listed company.

MGT has achieved a number of important corporate and operational milestones during the past twelve months in a challenging economic and regulatory environment. These milestones include:

• ! The signing of an off-take agreement with Taimetco International Trade Co., Ltd, in October 2012 for 20% of the tin production from the Company’s Mt Garnet Project

• ! Acquisition of a further shares of MGT Mining Limited to bring our total shareholding to 89.48%. MGT Mining and its subsidiary own 100% of the Mt Garnet Project, Pyramid Gold Project and Southern Queensland Projects.

• ! Approval of the principal mining lease at Mt Garnet – Summer Hills ML 20547, in January 2013. ML 20547 contains a number of highly prospective tin targets in very close proximity to the Mt Veteran Tin Processing Plant, a company asset.

• ! Sending our maiden shipment of tin concentrate to a smelter in Asia. The shipment demonstrated that our product can be accepted and processed by a world class LME approved smelter.

• ! Receiving encouraging results from our Smiths Creek Tin and Pyramid Gold drilling programs, ensuring shareholders a solid pipeline of projects over the coming years.

For MGT to execute on its strategy it must continue to expand its JORC compliant resource base. MGT geologists progressed this in March with the discovery of a rhyolite porphyry dyke at the Dalcouth prospect at the Summer Hills Mining Lease. The presence of porphyry dykes controlling or hosting mineralisation is well known at a number of productive eastern Australian tin deposits, such as Ardlethan and Baal Gammon.

The 2013 Summer Hills Drilling Program that followed this validated the decision to focus on Dalcouth as the first mining target with drilling producing some of the highest grades at shallow depth reported in Australia for some time.

Whilst the drilling program has been progressing, we have been making preparations to upgrade throughput capacity of the Mt Veteran Tin Processing Plant. This includes an application to increase our environmental approval from Level 2 to Level 1 which has been submitted and is currently being processed.

I will elaborate on these points during the AGM presentation.

We move towards the end of 2013 in a strong cash position in what is a tough regulatory environment for Queensland miners and an even tougher economic environment for Australian exploration companies. We are thankful for the support of our funding partners, who are taking a long-term view on the tin market and our various projects. What is encouraging is that the majority of long-term shareholders have remained with the company, and Board and management thank all shareholders for their ongoing support.

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Jonathan Back

Chairman and Managing Director

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Annual General Meeting 2013
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An emerging tin production and gold exploration company

Disclaimer

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Certain statements in this Presentation may constitute ��������-­‐�������� statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MGT Resources Limited ���� ��������� or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

When used in this Presentation, such statements use words such as ������ ������� ��������� ���������� ������ and other similar terminology. These statements reflect ������������ current expectations regarding future events and operating performance and speak only as of the date of this Presentation. These forward-­‐looking statements involve a number of risks and uncertainties, including those related to: (i) the ��������� limited operating history; (ii) the nature of the ��������� business being highly speculative; (iii) substantial additional expenditures being required to establish either resources or reserves on mineral properties; (iv) barriers to commercial production; (vi) requirements for additional capital; (vii) fluctuations in commodity prices and exchange rates; (viii) dependence on key officers, consultants and employees; (ix) potential defects in title to the ��������� properties; (x) maintaining the ��������� interests in its properties; (xi) external market factors; (xii) governmental and regulatory requirements; (xiii) environmental regulations; (xiv) conflicts of interest; (xv) uninsured risks; (xvi) competition to acquire additional properties; (xvii) lack of dividends; and (xviii) the absence of a public market for the Common Shares.

New risk factors may arise from time to time and it is not possible for management of the Company to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance or achievements of the Company to be materially different from those contained in forward-­‐looking statements.

Given these risks and uncertainties, investors should not place undue reliance on forward-­‐looking statements as a prediction of actual results. Although the forward-­‐looking statements contained in this Presentation are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-­‐looking statements. These forward-­‐ looking statements are made as of the date of this Presentation, and the Company assumes no obligations to update or revise them to reflect new events or circumstances.

Competent �������� Statement

Information in this presentation related to exploration results or mineral resources are based on information compiled by MGT technical staff and checked by Max Rangott of Rangott Mineral Exploration Pty Ltd, who is a member of both the AIG and the AusIMM. Mr Rangott has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the � Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore ���������. Mr Rangott consents to the inclusion in the report of the statements based on the information in the form and context in which it appears.

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Corporate Objective and Strategy

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Our Corporate Objective Our corporate objective is to grow MGT into a fully fledged tin mining company

Our Strategy Our strategy to achieve this is to develop short term cash flow from our existing tin projects in order to help fund growth from our own balance sheet

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MGT Capital Structure

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Jonathan Back giving presentation at the 2013 ITRI International Tin Forum held in Kunming, China

Top Shareholders	Top Shareholders
MGT Directors	48.5%
Armstrong Industries	5.36%
Alan Cheng	2.9%
Taimetco(Tin Off-take Partner)	2.49%

Capital Structure	Capital Structure
Stock Code	ASX: MGS
Share Price	A$0.065
Ordinary Shares	288.15m
Options	6m
Convertible Notes	72.1m ($6m)
Market Cap	A$18.73
Cash(31 October 2013)	A$5.8m

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Milestones Achieved in 2013

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Off-­‐take agreement secured

Primary mining lease granted First tin shipment sent

Geological model established at Dalcouth Prospect � the first mining target Successful drilling program on mining lease

Solid drilling programs from secondary projects confirming strong pipeline of projects

ASX Listing completed

Well funded � over $5 million cash to accelerate Mt Garnet Project

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Off-­‐Take Agreement Secured

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In October 2012, MGT and Taimetco International Trade Co. Limited signed an off-­‐take agreement for 20% of the tin production from the Mt Garnet Project

Taimetco is a Taiwanese metals buyer, whose parent company manufactures products for the building and manufacturing industries

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Mining Lease Granted

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Aerial photo of Summer Hills (ML 20547) prospects, Dams and the Mt Veteran Mill

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0km 0.5 km
Veteran
Extended
Newridge
Mayday
Summer Hill
Copper Creek Mill
Dalcouth
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The Company took a significant step toward commencing full-­‐scale tin production when the Queensland Department of Natural Resources and Mines approved the principal mining lease at Mt Garnet (ML 20547) in January. ML 20547 contains a number of highly prospective tin targets in very close proximity to the Mt Veteran Mill.

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Shipment to LME Approved Smelter

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In March, MGT sent its maiden shipment of tin concentrate to a smelter in Asia.

The shipment demonstrated that our product can be accepted and processed by a world class LME approved smelter.

Tin concentrate needs to meet stringent standards in order for a smelter to be prepared to accept it.

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Tables producing tin at the Mt Veteran Tin Processing Plant, a company asset

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Discovery of Rhyolite Porphyry Dyke

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In March, MGT geologists proposed a model believed to control the mineralisation at Dalcouth which is currently being refined

Key Points about Dalcouth First proposed mining target 500m from mill plant Mineralization starts at surface Weathered rock condition allows easy extraction and processing

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Low impurities

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Summer Hills Drilling Campaign

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The 2013 Summer Hills Drilling Campaign has so far validated the decision to focus on Dalcouth as the first mining target with drilling producing some of the highest tin grades and shallowest tin mineralisation reported in Australia for some time.

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Summer Hills Drilling Campaign

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Best Drilling Results to date for the 2013 Summer Hills Drilling Campaign

Prospect		Interval	Average Tin Grade	From Depth	Including	Hole ID
Dalcouth		4m	2.24%	19m	1m @ 5.58%	DAL99
		5m	0.5%	12m	1m @ 0.8%
		8m	1.1%	11m	1m @ 2.35%	DAL105
		8m	0.56%	38m	1m @ 1.09%	DAL107
		6m	1.2%	42m	1m @ 3.34%	DAL113
		3m	1.78%	16m	1m @ 5.03%	DAL114
		6m	0.34%	42m	3m @ 0.52%	DAL116
		4m	0.4%	17m	1m @ 0.72%	DDHDAL104
		5m	0.43%	33m	1m @ 1.00%	DDHDAL108
Extended		3m	1.68%	57m	1m @ 4.37%	X21
		3m	0.32%	59m	-	X23 tail

Drilling campaign is ongoing and planned to continue until the wet season commences around December 2013

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Solid Pipeline of Projects

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Pyramid Gold Project

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• -­‐ Potential bulk low grade gold project

Smiths Creek Tin

• -­‐ Historic high grade tin mine

• -­‐ 2012 drilling results

• Summer Hills Tin encouraging

• -­‐ 2012 drill program defined

• -­‐ Near term production polymetalic target -­‐ Longer term project

• -­‐ Cash flow to be reinvested -­‐ Medium term project

• in further exploration

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In late 2012 MGT announced encouraging results from its Smiths Creek Tin and Pyramid Gold drilling programs, ensuring shareholders a solid pipeline of projects over the coming years.

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The Global Tin Market

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Tonne	Tonne		Tin	Tin	Tin	production	production	production	production	and	and	and	consumption	consumption	consumption	consumption
400,000 450,000
200,000 250,000 300,000 350,000
		2009				2010			2011E				2012F			2013F
Source: Fairfax						Production						Consumption
					Price on
					1/11/12				**Price **				**Today **		**Change % **
	**Tin **					**19,923 **						**23,000 **				**15.44% **
	Copper					7,758							7,158			-7.73%
	Gold					1,718							1,311			-23.69%
	Silver						32.2						21.72			-32.55%
	Nickel					16,135						14,278				-11.51%
	Zinc					1,829							1,922			5.08%
	Aluminium					1,878							1,771			-5.70%
	Lead					2,078							2,131			~~1~~3 2.55%

Demand for tin is led by the electronics industries in China and Japan: consumption of tin in China and Japan accounts for approximately 50% of global consumption. Demand growth outlook is very positive.

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The tin price has grown from US$15,000/ton to over $25,000/t since 2010 and reached as high as $33,000/t

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Non-­‐toxic tin is used as a substitute for toxic metals (i.e. lead) in many applications

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Supply shortages are creating a physical deficit. 2,300t deficit in 2012 grew to a 7,400t deficit in 2013, with a further 12,400t deficit forecast for 2014[1]

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Tin identified amongst bank analysts as the metal most likely to rise over the next 12 months[2 ]

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1ITRI October 2013 2CRU Monitor: Tin, CRU International Ltd, October 2013 Source for tables on the right: IRESS, Bloomberg, Mining News

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Next Steps for 2014

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• Plant upgrade planned once expanded Dalcouth resource is confirmed and environmental authority Level 1 approved

• Current drilling program is ongoing and planned to finish before the wet season

• Dalcouth mineralisation is still open at depth and in three directions

• Mill upgrade will increase input capacity from 70,000tpa to 250,000tpa for modest CAPEX

• Preliminary design of the upgraded plant being drafted

• Application for Environmental Authority Level 1 has been submitted and is awaiting approval

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Mt Veteran Tin Processing Plant

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Expand the Environmental
resource at Approval for full
Dalcouth scale mining.
Resource update EA Level 1 submitted
expected Q1/2 and awaiting
2014 approval
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Mill upgrade to
250,000tpa input
capacity
Preliminary designs
currently being
drafted
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Contact Details

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2.05/68 York Street Address Sydney NSW 2000 Australia Telephone +61 (0)2 9262 1122 Fax +61 (0)2 9299 5175 Email info@mgt.net.au Website www.mgt.net.au

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