DEVELOP GLOBAL LIMITED — Investor Presentation 2015

Aug 16, 2015

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ASX Announcement
ASX Code: VXR
Released: 17 August 2015
For further details
John Nitschke
Acting Managing Director
T: +61 8 6389 7400
admin@venturexresources.com
Board
Tony Kiernan
Chairman
John Nitschke
Non-Executive Director
Anthony Reilly
Non-Executive Director
Darren Stralow
Non-Executive Director
Trevor Hart
Company Secretary
Contact Details
Registered Office
Level 2
91 Havelock Street
West Perth WA 6005
T: +61 8 6389 7400
F: +61 8 9463 7836
admin@venturexresources.com
www.venturexresources.com
ABN: 28 122 180 205
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INVESTOR PRESENTATION

Please find attached a copy of the current Investor Presentation that is part of a roadshow being conducted by the Company.

OPTIMISATION STUDY – PILBARA COPPER ZINC PROJECT

Work continues on a number of opportunities to improve the financial outcome of the Feasibility Study which have been identified since it was completed in late 2012. These include reducing implementation costs by deferring initial mine development, further optimising the process plant using conventional tailings disposal and rationalising the project infrastructure. There also appear to be opportunities to bring forward production of higher grade ore. Costs also need to be updated to reflect current market conditions.

The funding provided by the NPI from Blackrock will allow this work to be progressed to conclusion and compiled into a formal Optimisation Report. This report is expected to be complete in the December 2015 Quarter.

This work is being advanced as the outlook for continued global growth in both copper and zinc consumption continues to strengthen which, together with the lower Australian dollar exchange rate, provides a strong outlook for the Project.

JOHN NITSCHKE Acting Managing Director

For further information, please contact:

John Nitschke / Trevor Hart – Venturex Resources Limited on (08) 6389 7400 or email: admin@venturexresources.com

About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with a significant portfolio of VMS projects in the Western Pilbara. Venturex owns or controls significant resources of copper, zinc, lead, silver and gold at Sulphur Springs, Kangaroo ‐ Caves, Whim Creek, Mons Cupri, Salt Creek and Liberty Indee. The Company is committed to a strategy of consolidating VMS projects in the Western Pilbara and developing a centralised processing hub at Sulphur Springs.

Pilbara Copper Zinc Project Update

August 2015

1

Disclaimers

Cautionary Statement

The information contained in this document (“Presentation”) has been prepared by Venturex Resources Limited (“Company”). This presentation is being used as a presenter’s aid with summarised information. See Venturex’s other and periodic disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or at www.venturexresources.com, for more information.

While the information contained in this Presentation has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give any representations or warranties (express or implied) as to the accuracy, reliability or completeness of the information in this Presentation, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, to the full extent permitted by law, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained in this Presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

This Presentation may include certain statements that may be deemed “forward-looking statements”. All statements in this presentation, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The Company, its shareholders, directors, officers, agents, employees or advisers, do not represent, warrant or guarantee, expressly or impliedly, that the information in this Presentation is complete or accurate. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient of this Presentation of any matter that subsequently comes to its notice which may affect any of the information contained in this Presentation. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Venturex assumes no obligation for to update such information.

Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements. Please undertake your own evaluation of the information in this presentation and consult your professional advisers if you wish to buy or sell Venturex shares.

Competency Statement

The information in this presentation that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Michael Mulroney and Steven Wood who are Members of the Australasian Institute of Mining and Metallurgy. The information was previously issued with the written consent of Mr Mulroney and Mr Wood, who were full time employees of Venturex Resources Limited, in the Company Resource and Ore Reserve Statement released to the ASX on 8 October 2013. The Company confirms that:

• a. The form and context of Mr Mulroney’s and Mr Wood’s finds are presented have not been materially modified;

• b. It is not aware of any new information or data that materially affects the information included in the 8 October 2013 announcement and that all material assumptions and technical parameters underpinning the estimate in the 8 October 2013 announcement continue to apply and have not materially changed; and

• c. It is uncertain that following further exploration and evaluation that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC 2012 Code.

2

2

Adjacent to existing mines, near infrastructure, mining services and skilled labour

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Atlas Iron
Abydos Mine
Kangaroo
Caves
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3

Large Resource Inventory ~ 590,000t CuEq[1 ]

26.4 Mt grading 1.2%Cu 3.4%Zn 0.3%Pb 18.9 g/t Ag 320,000 t Contained Copper 900,000t Zinc

Salt Creek Mons Cupri Evelyn

Kangaroo Caves

• 1 CuEq is based on Cu US$3.00/lb, Zn US$1.00/lb, Pb US$1.00/lb, Ag US$20/oz, Au $1,300/oz plus metallurgical recovery factors

 Copper  Lead

 Zinc

 Gold

• 2 Circle size reflects tonnes of contained Cu Eq metal

 Silver

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4

Sulphur Springs Consolidated Tenure Package

• Two significant deposits to date

• Excellent potential for new discoveries

• Regional exploration has located multiple Zn-Cu anomalies

• Breakers - Widespread zinc anomalism

Sulphur Springs 12.8Mt 1.5% Cu & 4.1% Zn

  - BKP001 - 25m @ 3.8% Zn, BKD002 - 8.8m @ 3.2% Zn

• Man O’War - large 2.5 km Zn-Cu anomaly

• MOD004 - 3.9m @ 1.4% Pb 3.6% Zn 44g/t Ag

Kangaroo Caves 6.3Mt 0.5% Cu & 3.3% Zn

• MOD008 - 23m @ 0.6% Zn, MOD005 - 17m @ 0.3% Cu

• Anomaly 45 – Outcropping discharge zone with alteration “fingerprint”

• Jamesons – Significant zinc intersections

• JMC004 - 6m @ 3.2% Zn

• JMD1 - 3m @ 8.0% Zn and 4m @ 3.1% Zn

• Midway – Large spectral anomaly

Historically results previously release by Sipa Resources Ltd and CBH Resource Ltd, this information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

5

2012 Feasibility Study Outcomes

Metric 2012 DFS Case August 2015	Metric 2012 DFS Case August 2015	Metric 2012 DFS Case August 2015	Metric 2012 DFS Case August 2015
Underground Mine & Process Rate		1.0 million tpa	1.0 million tpa
Average annual	payable metal production	16,500t Cu 30,000t Zn 200,000ozs Ag	16,500t Cu 30,000t Zn 200,000ozs Ag
Payable Metal Produced		136,400t Cu, 245,700t Zn, 1.7Mozs Ag	136,400t Cu, 245,700t Zn, 1.7Mozs Ag
Mine Life		8.5 years +	8.5 years +
**Life of Mine C1 Operating Cost1 **		A$1.57/lb payable Cu	A$1.07 lb payable Cu
Pre-Production Capital Cost		A$279 million (incl. EPCM and contingency)	Optimising
Forecast EBITDA		A$548 million	A$825m
Forecast EBIT		A$234 million	A$475m
Forecast Pre-tax NPV10 real		A$49 million	A$178m
IRR		12%	25%
Price Assumptions (average)		Cu-US$7,716/t Zn-US$2,094/t Ag-US$25/oz A$/US$ 0.95	Cu-US$6,700/t Zn-US$2,400/t Ag-US20/oz A$/US$ 0.74

1 C1 Operating Costs = projected cash costs including mining, processing, site administration and concentrate transport and shipping, TC/RC charges less byproduct credits (Zn, Pb, Ag, Au) using price assumptions quoted.

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AUD$ heading in the right direction

AUD$ Depreciation = High Impact on Valuation

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NPV SENSITIVITY TO AUD$
$350,000,000
$293,000,000
$300,000,000
$260,000,000
$230,000,000
$250,000,000
$203,000,000
$200,000,000 $178,000,000
$150,000,000
$150,000,000 $127,000,000
$104,000,000
$82,000,000
$100,000,000
$50,000,000
$-
0.82 0.8 0.78 0.76 0.74 0.72 0.7 0.68 0.66
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+/- 10% change in Australian Dollar

Advanced Undeveloped Cu-Zn Projects

Australian Copper Development Projects

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Cu Eqv. Resource (Mt) Cu Eqv. Reserve (Mt) Cu Eqv. Grade (%)
1.8
1.6
4.5%
0.9
2.6%
2.4%
0.7
0.6 2.1%
1.9%
Avg. 1.8% Cu Eqv.
0.2 0.2
0.8%
0.7%
0.6% 0.6% 0.1
0.2
Hillside Little Eva Kalkaroo Pilbara Stockman Hera-Nymagee Woodlawn Jervois Thaduna
Rex Minerals Altona Havilah Venturex Independence YTC TriAusMin KGL Ventnor
SA QLD SA WA Victoria NSW NSW NT WA
DFS DFS Scoping DFS DFS Construction PFS PFS Scoping
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8 Source: Company Reports

Looking at the Zinc Component

Zinc Only Component of Australian Zinc Developments

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ZINC INVENTORY TONNES
MEASURED AND INDICATED
800,000
752,000
700,000
600,000
500,000 546,000
400,000
398,000
300,000
200,000 234,000
154,000
100,000
0
ATE HRR RVR STOCKMAN VXR
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Measured and indicated Zinc resource from company reports

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I

Zinc price squeeze is coming

Zinc concentrate market deficit expected from 2016

Restricted supply, declining stocks will lead to a paradigm shift in prices

• Low Zinc price has led to an underdeveloped global project pipeline

• Urbanisation and industrialisation will drive demand for refined zinc

• The zinc market will undergo a structural shift from 2017 as supply constraints lead the concentrate market into deficit

• Forecasts of the Zinc price escalating to $2,600 - $4,000pt 2017-2019

• The future will be characterised by a roughly balanced market tending towards deficit rather than previous surplus

• Resulting in a long term price above the historic average of $2000

• New long term average of $2,800 from 2020 (Wood McKenzie)

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Optimisation
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Completion
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2015
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Opportunities to optimise the Project identified over the past two years

• Revised mine plan and schedule to reduce preproduction expenditure and bring forward higher grade ore

• Revert to conventional tailings placement

• – Revised crushing, grinding, flotation and thickening circuits

• Revised infrastructure requirements

• Bring Kangaroo Caves into mining inventory

Site Infrastructure Layout

• Reflect current market costs and conditions

Focus on reducing Pre-Production Expenditure and simplifying project

Optimisation Study Funded by Net Profit Share in Heap Leach operation

Sulphur Springs Underground Mine

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Pilbara Project Highlights

• 1

• Combines the largest known Cu-Zn VMS deposits in the Pilbara region of NW Australia

• Infrastructure on door step, 155 km’s by road to Port Hedland

• Current metal and exchange rate forecasts confirm an economically robust project

• Further opportunities to optimise project economic outcomes now being finalised

• Project is shovel ready- approved Mining Leases, Environmental approvals and Native Title Agreements

• +10 years mining life from upgrade of existing resources to reserves

• Large tenure package with significant exploration potential.

• 1 VMS = Volcanogenic Massive Sulphide

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Corporate Overview

Capital Structure

Capital Structure
ASX Code	VXR
Issued Shares	1,548m
Market Capitalisation	$7.5m
Cash and receivables	$1.3m

Share Price

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$0.010
14
$0.009
12 $0.008
$0.007
10
$0.006
8
$0.005
6 $0.004
$0.003
4
$0.002
2
$0.001
0 $0.000
As at 6 August 2015
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Experienced Board

Anthony Kiernan LLB - Non-Executive Chairman

Anthony Reilly BEc – Non- Executive Director John Nitschke BEng(Hons), MSc - Non-Executive Director Darren Stralow BEng, GAICD, GCAF - Non-Executive Director

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Key Shareholders

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33.5% Regent Pacific
Northern Star
46.2%
Henghou Industries
Others
12.9%
7.4%
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As at 30 June 2015

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Anthony Reilly Non Executive Director e: anthony.reilly@venturexresources.com

John Nitschke

Non Executive Director

e: john.nitschke@venturexresources.com

Trevor Hart Company Secretary/CFO e: trevor.hart@venturexresources.com

Registered Office Level 2 91 Havelock Street West Perth WA 6005 Australia

T: +61 8 6389 7400 F: +61 8 9463 7836

admin@venturexresources.com www.venturexresources.com

ASX Code: VXR

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Appendix - Mineral Resource Summary

	Mt	Cu%	Zn%	Pb%	Ag g/t	Au g/t
Combined Sulphur Springs Region
Indicated	12.6	1.5	4.7	0.2	19.5	0.05
Inferred	6.5	0.6	2.1	0.1	8.6	0.03
Total	19.1	1.2	3.8	0.1	15.8	0.05
Combined Whim Creek Region
Measured	1.3	1.5	1.7	0.8	41.1	0.28
Indicated	5.1	1.2	2.3	0.7	23.3	0.13
Inferred	0.2	2.6	0.3	0.1	4.1	0.03
Total	6.6	1.3	2.1	0.7	26.3	0.15
Liberty Indee Joint Venture (70%)
Indicated	0.45	2.2	4.5	0.4	42.0	0.9
Inferred	0.20	1.0	1.8	0.2	22.4	0.4
Total	0.7	1.8	3.7	0.3	35.9	0.8
TOTAL	26.4	1.2	3.4	0.3	18.9	0.1

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Defined Ore Reserves

Three other deposits yet to be upgraded to ore reserve status

ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE	ORE RESERVE
	Classification	Tonnes ('000t)	Cu %	Zn %	Pb %	Ag g/t	Au g/t
Whim Creek	Probable	221	2.7	0.9	0.1	8.5	0.1
Mons Cupri	Probable	951	1.7	2.2	1.0	47.1	0.3
Sulphur Springs	Probable	7,200	1.8	4.3	0.1	18.5	0.0
	Total	8,372	1.8	4.0	0.3	21.4	0.1

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