GROUP 6 METALS LIMITED — AGM Information 2011

Nov 28, 2011

==> picture [720 x 68] intentionally omitted <==

==> picture [720 x 69] intentionally omitted <==

KING ISLAND SCHEELITE LIMITED

AGM – 29[th] November 2011

Simon Bird ‐ CEO

==> picture [720 x 68] intentionally omitted <==

1

Disclaimer

This presentation has been prepared by King Island Scheelite Limited (“KIS”) as a summary of its King Island Scheelite P ro ec j t . s or genera n orma It i f l i f ti on purposes on y. l

This presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities in KIS, or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in KIS will be entered into on the basis of this presentation.

This presentation contains certain forward‐looking statements which have not been based solely on historical facts but, rather, on KIS current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies many of which are outside the control of KIS and its directors, officers and advisers.

This presentation contains Exploration Targets which are conceptual in nature where there has been insufficient exploration to define full mineral resources and it is uncertain that further exploration will result in the determination of a Mineral Resource.

Due care and attention has been taken in the preparation of this presentation. However, the information contained in this presentation (other than as specifically stated) has not been independently verified for KIS or its directors and officers, nor has it been audited. Accordingly, KIS does not warrant or represent that the information contained in this presentation is accurate or complete. To the fullest extent permitted by law, no liability, however arising, will be accepted by KIS or its directors, officers or advisers, for the fairness, accuracy or completeness of the information contained in this presentation.

==> picture [720 x 68] intentionally omitted <==

==> picture [720 x 69] intentionally omitted <==

----- Start of picture text -----

2
----- End of picture text -----

Your Company

==> picture [720 x 69] intentionally omitted <==

	Shares ASX ‐ KIS 81.8M shares on issue $0.17 share price $13.9M market cap
	Financial Year ended 30th June Cash on hand Net assets fil 2011 $5.66 M $34.87 M 2010 $2.62 M $29.64 M
	Net prot/ (oss) $0 60 M $(0 58) M NTA per share . 4.5 cents . (0.7) cents Board TonyHaggarty Chairman 9% interest
	Robin Morritt Andy Plummer Mr Li Li ‐ HNC Director Director Director 16% interest 4% interest 5% interest
	I M C S an organ ompany ecretary
3

Highlights this year

	Maintained focus on re‐opening the high grade tungsten mine on King Island	Maintained focus on re‐opening the high grade tungsten mine on King Island
	Corporate	Secured 100% of the Dolphin Project Discharged project loan in exchange for capped royalty Raised additional capital to advance the project
	Dolphin Project	Confirmed tailings mineable resource estimate Revised the underground plan with increased reserve estimate Undertaken definitive feasibility study on current development plan
	Team	Recruited a Chief Metallurgist & Manager Mining Operations Retained access to other key technical skills Completed holes into the Swan Extended target with high grade intercepts
	Exloration
	p	Continued exploration activities at Balfour in NW Tasmania Demand remains strong (particularly for ex‐China supply) This demand is reflected in increased prices for concentrate and APT
	Tungsten demand
		Progressed off‐take arrangements with key consumers These arrangements are expected to underpin acceptable debt facilities
	Funding strategy
4

Significant high grade deposit

	Resource	Resource	Resource	Resource	Resource
	Resource
		Tonnes	WO % ₃	Tonnes WO ₃
	Dolphin	0.70% WO3cut off
	Indicated	4,752,000	1.29	61,300
	Inferred	7,000	0.73	50
	Total	4,759,000	1.29	61,350
	Bold Head	0.50% WO3cut off
	Indicated	1,500,000	0.93	13,950
	Inferred	150,000	1.22	1,830
	Total	1,650,000	0.96	15,780
	Tailings	0.08% WO3cut off
	Measured	2,700,000	0.17	4,590
	TOTAL	9 109 000 , ,	0 90 .	81 720 ,

Resource estimate is in accordance with JORC code 2004

==> picture [720 x 69] intentionally omitted <==

Robust mine plan

	Reserve ’	Reserve ’	Reserve ’	Reserve ’	Reserve ’
	Reserve
				’
		T onnes	WO % ₃	Mt u s
	Dolphin Probable	2,687,000	1.04	2,806,000
	Bold Head Probable	609,000	0.76	464,000
	Tailings Proven	1,900,000	0.19	361,000

Resource estimate is in accordance with JORC code 2004

Plans to dewater, rehabilitate and mine Dolphin utilising paste fill method, with associated mine schedule completed

Bold Head plans involve dewatering and rehabilitating the former underground mine

Tailings reclamation plans developed with dry mining extraction methods

==> picture [720 x 69] intentionally omitted <==

Proven recovery process

Whole‐ore‐flotation metallurgical test work completed in China on both ore and tailings samples.

Chinese testing replicated in Tasmania under Australian conditions confirming the previous results, including:

• 91% recover y from ore

• 59% recovery from tailings

STAGE 1: WOF to process tailings then primary ore from underground STAGE 2: Crushing and grinding section added for primary ore

==> picture [720 x 69] intentionally omitted <==

Significant tungsten producer

Produce >25% of non‐Chinese production

Supplying over 5,700 tonnes o f concentrate pa

11 year mine life before any further resources are confirmed

Annual Tonnes of WO3 Produced

==> picture [720 x 68] intentionally omitted <==

==> picture [720 x 69] intentionally omitted <==

==> picture [720 x 68] intentionally omitted <==

==> picture [720 x 69] intentionally omitted <==

----- Start of picture text -----

8
----- End of picture text -----

Strong tungsten market

==> picture [721 x 397] intentionally omitted <==

----- Start of picture text -----

WO₃ Prices – Jun 2009 ‐ Oct 2011
USD per mtu
500
450
400
350
300
250
200
150
100
APT 65% Concentrate
50
0
Market
Concentrate 65% WO3 APT 88.5% WO3
June 2010 US$188/mtu US$235/mtu
June 2011 US$343/mtu US$469/mtu
October 2011 US$350/mtu US$452/mtu
Significant increase since June 2010
----- End of picture text -----

==> picture [720 x 69] intentionally omitted <==

----- Start of picture text -----

9
----- End of picture text -----

Well placed to deliver

Dolphin Project

 well recognised location and mining jurisdiction

 supportive community and regulators

 excellent resource

 robust and tested development plan

 strong technical team

 actively engaged with off‐takers and financiers

 sound econom cs i (DFS currently e ng comp eb i l ted)

==> picture [720 x 69] intentionally omitted <==

Current focus

Complete DFS for preferred Dolphin redevelopment

1. Conclude assessment of retreating tailings in a staged redevelopment plan

2. Review cost/ benefit of further beneficiation

3. Finalise feasibility study including independent reviews to ensure at bankable level

Conclude off‐taker negotiations and confirm debt facilities

1. Conclude discussion with off‐takers on potential for further beneficiation

2. Sign‐up preferred off‐take arrangements

3. Establish debt facilities for the Dolphin Project underpinned by off‐take arrangements

==> picture [720 x 69] intentionally omitted <==

----- Start of picture text -----

11
----- End of picture text -----

KING ISLAND SCHEELITE LIMITED

Simon Bird Chief Executive Officer

Level 1, 101 Sussex Street Sydney NSW 2000 Phone: (02) 8622 1400 Fax: (02) 8622 1401 Email: simon.bird@kisltd.com.au

Competent Persons Statement

The information within this report that relates to Mineral Resources, Exploration Results and Ore Reserves is based on information compiled by Mr Tim Callaghan who is a consultant geologist working for King Island Scheelite. Tim is a Member of the Australasian Institute of Mining and Metallurgy (AUSIMM) and has sufficient ex p erience in the st y les of mineralisation and t yp es of de p osits in consideration to q ualif y as a com p etent p erson accordin g to the 2004 edition of the Australasian Code for reporting Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). He consents to the inclusion of this material in the form and context in which it appears in this report.

Competent Person Statement

This review was prepared in accordance with the 2004 Edition of the ‘ Australasian Code for Reporting of Exploration Results , Mineral Resources and Ore Reserves ’ (“JORC Code”) by Consultant Mining Engineer Mr Alan Fudge of Polberro Consulting, who is a Member of The Australasian Institute of Mining and Metallurgy (“AusIMM”) and has a minimum of five years experience in the estimation, assessment and evaluation of Mineral Reserves of this style and is a Competent Person as defined in the JORC Code (2004). This announcement accurately summarises and fairly reports his estimations and he has consented in writing to this review in the form and context in which it appears.

==> picture [720 x 69] intentionally omitted <==