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IMAGE RESOURCES NL Investor Presentation 2007
65117_rns_2007-08-06_53a0dcd3-c989-41d2-b90e-a25ca66c92a3.pdf
Investor Presentation
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DIGGERS & DEALERS AUGUST 2007 GEORGE SAKALIDIS MANAGING DIRECTOR
FORWARD LOOKING STATEMENTS
This presentation contains forecasts and forward looking statements which are made in good faith and are believed to have reasonable basis.
However, such forward looking statements are subject to risks, uncertainties and other factors which could cause the actual results to differ materially from the future results expressed, projected or implied by forward looking statements.
HISTORY
¾ Aeromagnetic database second only to Rio Tinto ¾ Discoveries ¾ Magnetic Minerals listed 2000
- ¾ Image Resources listed July 2002
- ¾ Meteoric Resources listed July 2004
- ¾ Magnetic Resources listed April 2007
- ¾ Potential Nickel float late 2007
- Quality Heavy Mineral and Ni projects
- New HM discoveries at Cooljarloo and Cooljarloo North with major resources being defined
- Expanding HM ground position (1850sq km) in North Perth Basin
- Emu Lake high grade nickel sulphide project potential float
- Experienced management with discovery track record
DIRECTORS
- George Sakalidis: Managing Director, Geophysicist, 29 yrs exp.
- Roger Thomson: Executive Director, Geologist, 40 yrs exp.
- Peter Thomas: Chairman, Mining Lawyer, 27 yrs exp.
MINERAL SANDS NORTH PERTH BASIN
- Image represents a new opportunity for new mineral sands resource development in the province
- Magnetic mapping has not been used widely. Southern end of North Perth Basin still poorly mapped.
- Over 20% of annual world production of zircon
- Excellent Infrastructure
- New acquisition opportunities
- Image with 1850 sq km is the largest tenement holder. Cooljarloo area represents only 6% of Images ground position
COOLJARLOO HISTORICAL
- Strategic location close to established infrastructure and world class operating mines
- 3 strands with historical resources of 2.4 Mt of concentrate (pre 1990) which cover over 12km of strike length
| Deposit | Resource Tonnes |
Grade (%) |
HM Tonnes |
Ilmenite Tonnes |
Rutile Tonnes |
Leucoxene Tonnes |
Zircon Tonnes |
|---|---|---|---|---|---|---|---|
| 28,000 | 850,000 | 8.6 73,000 |
25,000 | 8,000 | 6,700 | 9,800 | |
| Mid-level | 49,000,000 | 2.3 | 1,127,000 | 531,000 | 96,000 | 60,500 | 91,000 |
| 35 AHD | 30,860,000 | 4.0 | 1,234,000 | na | na | na | na |
| Total | 80,710,000 | 3.0 | 2,434,000 |
MAGNETIC MAPPING PROGRESS
| Project | Aeromagnetic Target Length |
Groundmag Completed |
Groundmag Target Length |
|---|---|---|---|
| Bidaminna | 80 % | 42 km | |
| Bootine | 87 km | 25 % | In progress |
| Cataby West | 20 km | 80% | In progress |
| Gingin | 30 km | 10 % | In progress |
| Quinns Hill | 10 % | In progress | |
| McKinley | 40 % | 12 km |
IMAGE PROJECTS RESOURCE POTENTIAL
| Project | Resource(M t) |
Zircon + Rutile |
Grade | HMC (Mt) |
Cut-of Grade |
Cash Flow | Cap Ex (M) |
NPV (M) |
IRR (%) |
Market Cap |
|---|---|---|---|---|---|---|---|---|---|---|
| Dongara (MGE) | 182 | 23-41% | 5.0% | 9.1 | 2.0% | 273M/12 years |
\$71 | \$63 | 76 | 25M |
| Other Projects (IMA)* |
50-200 | 4-6% | 5-20 | |||||||
| Cooljarloo Cooljarloo North (IMA)* |
200-400 | 5% | 10-20 | 160M | ||||||
*targeted tonnage and grade
- Image's market cap has factored in the potential of the Cooljarloo 28000,35AHD, channel and of the Cooljarloo North Target 1
- Further channels and high grade shallow strands are expected after further drilling of the 42 km of targets and of Image's other extensive projects
EUCLA BASIN
- Zircon rich discovery on Image's tenement boundary
- 28km paleocoastline
- 2.3km mineralised coastline discovered by Diatreme on tenement boundary
- Prospective shoreline thickens to 9km in width on Image ground
- Access agreements in progress
- Ground magnetics/aircore drilling planned
| EMU LAKE Ni PROJECT GOSSAN ZONE DRILL INTERSECTIONS |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| Hole No | From (m) |
To (m) |
Interval (m) |
Ni % |
Cu % |
Pt ppb |
Pd ppb |
Pt+Pd g/t | |
| ELD 5 | 256.40 | 256.70 | 0.3 | 7.55 | 0.35 | 1015 | 1726 | 2.74 | |
| 258.22 | 258.35 | 0.13 | 0.34 | 21.3 | 1355 | 1659 | 3.01 | ||
| 258.60 | 259.90 | 1.3 | 1.11 | 0.18 | 125 | 351 | 0.48 | ||
| 277.06 | 277.23 | 0.17 | 7.08 | 6.46 | 1092 | 2315 | 3.41 | ||
| ELRC 10 | 192.0 | 193.0 | 1.0 | 2.28 | 0.20 | 350 | 718 | 1.07 | |
| ELD 11 | 364.05 | 364.10 | 0.05 | 3.55 | 0.01 | 205 | 745 | 0.95 | |
| ELD 15 | 336.0 | 338.0 | 2.0 | 6.20 | 1.78 | 749 | 1424 | 2.17 | |
| 343.5 | 345.5 | 2.0 | 2.63 | 1.05 | 237 | 3953 | 4.19 | ||
| ELD 16 | 377.07 | 377.35 | 0.28 | 6.66 | 0.24 | 423 | 226 | 0.65 | |
| ELD 17 | 269.50 | 269.81 | 0.31 | 1.11 | 0.14 | 104 | 197 | 0.30 | |
| ELD 18 | 302.57 | 303.65 | 1.08 | 1.52 | 0.20 | 166 | 291 | 0.46 | |
| 302.57 | 302.68 | 0.11 | 3.95 | 0.18 | 632 | 723 | 1.35 | ||
| ELD 21 | 366.50 | 366.65 | 0.15 | 7.54 | 0.11 | 928 | 1310 | 2.24 | |
| ELD 25 | 346.60 | 346.70 | 0.10 | 10.9 | 757 | 4.17 | |||
| ELD 26 | 414.10 | 414.21 | 0.11 | 1.94 | 830 | 0.20 | |||
| 414.53 | 414.58 | 0.05 | 2.42 | 668 | 0.52 |
TIMETABLE
| Project | Activity | Date | |
|---|---|---|---|
| Cooljarloo | Air Core Drilling/Pre Feasibility | Aug-Sept 2007 | |
| Cooljarloo North | Air Core Drilling/Pre Feasibility | Aug- Sept 2007 | |
| Gingin, Bootine, Quinns | Ground Mag | Aug-Sept 2007 | |
| Bidaminna | Air Core Drilling | Sept 2007 | |
| Emu Lake | Deep Drilling and potential IPO | Late 2007 | |
| My Hays | Auger Drilling | Aug 2007 | |
| Lookout Well | RAB Drilling | Aug 2007 |
SUMMARY
- Increasing focus on Mineral Sands
- Potential major high grade discovery at Cooljarloo and Cooljarloo North
- Largest HM land holder North Perth Basin
- Potential Nickel float, generous benefits to existing Image shareholders
- Tightly held stock: Top 5 hold 50% (long term investors)
- Planned Resource Studies and Exploration over extensive HM ground in North Perth Basin
