Day 2 - Session 5: Global Hotspots (part 1)
- 1. Investment Conferences GLOBAL MINING INVESTMENT CONFERENCE 2010 DAY 2 – SESSION 5: GLOBAL HOTSPOTS (PART 1) Opportunities Western Australia Derek Fisher – CEO, Moly Mines Opportunities in Quebec Brad Kitchen – CEO, Eagle Hill Exploration Opportunities in Ontario Stefan Wozniak – Exploration Manager, White Tiger Mining Opportunities in Ghana Dr John Clarke – Director, PMI Gold ● CITY OF LONDON ● TUESDAY-WEDNESDAY, 28-29 SEP 2010 STATIONERS’ HALL www.ObjectiveCapitalConferences.com
- 2. GLOBAL MINING INVESTMENT CONFERENCE 2010 Lead sponsors: Media partners: Other sponsors & participating organisations:
- 3. MOLY MINES MOLY 3 LIMITED MINES LIMITED An Opportunity - Building Two Mines Global Mining Investment Conference 28th - 29th September 2010
- 4. MOLY Disclaimer MINES 4 LIMITED This presentation includes “forward-looking statements” as that term within the meaning of securities laws of applicable jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond Moly Mines’ control. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this presentation, including, without limitation, those regarding Moly Mines’ future expectations. Readers can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “risk,” “should,” “will” or “would” and other similar expressions. Risks, uncertainties and other factors may cause Moly Mines’ actual results, performance, production or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performance or achievements). These factors include the failure to complete and commission the mine facilities, processing plant and related infrastructure in the time frame and within estimated costs currently planned; variations in global demand and price for molybdenum and copper; fluctuations in exchange rates between the U.S. dollar and the Australian dollar; failure to recover the resource and reserve estimates of the Project; the failure of Moly Mines’ suppliers and service providers to fulfil their obligations under construction, supply and tolling agreements; unforeseen geological, physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes, labour shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable terms; and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information.
- 5. MOLY Australian Iron Ore Regions MINES 5 LIMITED Australia Pilbara 500km Premier producing region Pilbara + 350Mt in 2009 +600Mt in 2015 Northern Territory Numerous stranded deposits Midwest Spinifex Ridge Mo Emerging production region Planned new port & rail Queensland development (Oakajee) Western 5Mt in 2009 (Geraldton) Australia South ~45Mt in 2015 (Oakajee & Australia Geraldton) New South Yilgarn Perth Wales Exports through Esperance Kwinana port redevelopment Yilgarn 8Mt in 2009 (Esperance) Victoria ~30Mt in 2015 (Esperance & Midwest South Australia Kwinana) South Australia Oldest production in Australia Tasmania Needs port & rail for expansion
- 6. MOLY Pilbara Region – Western Australia MINES 6 LIMITED Iron Ore Mines Deepwater Ports BHP Billiton 1 Port Hedland 5 Port Hedland 1 Fortescue (FMG) 2 Cape Lambert 4 Rio Tinto 3 Dampier 3 4 2 D a mp ie r 2 Atlas Iron 4 Anketell Point Port K a rra t h a 3 5 R o e b our ne Spinifex Ridge Mo 6 Citic Pacific 5 Cape Preston 7 1 8 M a r bl e B a r Iron Ore Projects 9 Pa n nawonica 27 10 11 1 Balmoral South 14 Marillana 2 Cape Lambert 15 Phils Creek 3 Balla Balla 16 FerrAus 4 Poondano 17 Mindy Mindy 24 12 22 5 Ridley 18 Hope Downs 25 6 Spinifex Ridge Iron 19 Western Turner 26 7 Abydos (Atlas Iron) 20 Rocklea 13 9 21 19 14 8 Wodgina 21 Brockman 4 T o m P ri c e 15 9 Abydos (Giralia) 22 West Pilbara 20 Railway Lines 18 10 Mt Webber 23 Western Creek 17 BHP Pa ra burdoo 11 McPhee Creek 24 Blacksmith Iron FMG Rio Tinto 12 Nullagine 25 Solomon Deposits FMG (Proposed) 13 Roy Hill 26 Western Hub Deposits Hancock (Proposed) 23 N e wma n 16 50km 27 Daltons API (Proposed)
- 7. MOLY Pilbara Region – Western Australia MINES 7 LIMITED Iron Ore Projects Name Owner Resource (Mt) Capacity (Mtpa) Type 1 Balmoral South 1600 12 M 5 P o rt H e d l a n d 1 2 Cape Lambert 1560 15 M 3 Balla Balla 455.9 6 – 10 M 4 4 Poondano 10 1-2 H 3 4 2 D a mp ie r 5 Ridley 2010 15 M 2 K a rra t h a 3 6 Spinifex Ridge Iron 7 1 H 5 R o e b our ne Spinifex Ridge Mo 6 7 Abydos (Atlas Iron) 22.7 3 H 8 Wodgina 42.7 2 – 3.6 H 7 1 8 9 Abydos (Giralia) 40 3 H M a r bl e B a r 10 Mt Webber 44 3 H 9 11 McPhee Creek 52.1 - H Pa n nawonica 27 10 11 12 Nullagine 89.1 3-5 H 13 Roy Hill 2420 55 H 14 Marillana 1630 15 – 25 H 15 Phils Creek 15.1 1.5 H 24 12 16 FerrAus 191 10 H 22 25 17 Mindy Mindy - - - 26 18 Hope Downs 1450 30 H 21 13 19 Western Turner 60 - H 19 14 T o m P ri c e 15 20 Rocklea 89 10 H 20 9 21 Brockman 4 35 - H 18 17 22 West Pilbara 742 30 - 40 H Pa ra burdoo 23 Western Creek 52.4 - H 24 Blacksmith Iron 511 - H 25 Solomon Deposits 2450 60 – 160 H 23 N e wma n 16 26 Western Hub Deposits - - H 50km 27 Daltons 40 2 H Deposit Type, M = Magnetite, H = Hematite
- 8. MOLY Port Hedland - Overview MINES 8 LIMITED Berths Wharfs - Existing Name Operator Proposed Outer 1 Finucane Island Harbour Development 2 PHPA1 Public 3 PHPA3 - Dampier Salt 1 4 Nelson Point 1 Port Hedland 2 5 Anderson Point 6 3 2 7 4 4 8 Berths Wharfs - Existing 9 5 Name Operator 10 6 Utah Point (Public) Public 7 Harriet Point – RGP5 3 8 Burgess Point - RGP6 9 South West Creek 10 FMG Extensions Wharfs Facility Handling Areas Name Operator 1 BHP - Finucane Island 2 BHP – Nelson Point 3 FMG 4 Utah Point Public South Hedland
- 9. MOLY Port Hedland – Existing & Future Berths MINES 9 LIMITED Berths Wharfs - Existing Name Operator 1 Finucane Island 2 PHPA1 Public 3 PHPA3 - Dampier Salt 4 Nelson Point 1 Port Hedland 5 Anderson Point 2 6 3 Berths - Under Construction 4 Name Operator 7 8 6 Utah Point Public 5 7 Harriet Point 9 10 Berths - Proposed Name Operator 8 Burgess Point 9 South West Creek 10 FMG Extensions
- 10. MOLY Port Hedland – Port Infrastructure MINES 10 LIMITED Anderson Point FMG Finucane Island BHP Nelson Point BHP
- 11. MOLY Port Hedland – Nelson Point (BHP) MINES 11 LIMITED
- 12. MOLY Company Overview – Building Two Mines MINES 12 LIMITED Spinifex Ridge Iron Ore Project Major Road Rail Broome Construction near complete Australia Major Port 1 Gas Pipeline Iron ore shipments commence Q4 100kms Port Hedland 2010 Dampier Yarrie (Fe) Karratha Spinifex Ridge Strong project cashflows 1 Marble Bar Telfer (Au, Cu) Spinifex Ridge Molybdenum Project Woodie Woodie Nifty (Cu) (Mn) Tom Price (Fe) Cloudbreak (Fe) US$500M Project Finance Loan Facility 95 Western Paraburdoo (Fe) Australia due 30 September 2010 (extension Mt Newman (Fe) under review) to fund immediate Strategic partner cornerstone construction growth plans Funding secured through major strategic shareholder Vision to build a major world class mining group Hanlong Group US$5 billion investment pool
- 13. MOLY Sichuan Hanlong Group MINES 13 LIMITED Privately owned Resource Interests – Zn, Mo, Cu, Coal, Au Electricity production, infrastructure development, pharmaceutical production, food and alcoholic beverages, real estate development, environmental technology, tourism development and high tech industries RMB 9.5 billion revenue 2008 (A$1.5 billion) 12,000 employees Hanlong Vision Moly Mines Limited International Mining House Major world Mo company Moly Mines Limited
- 14. MOLY Corporate Overview MINES 14 LIMITED Capital Structure at 30 June 2010 Shareholders ASX/TSX Ticker MOL Hanlong Group 56.9% Market Cap A$250M Australian Register 31.9% Ordinary Shares 363.9M Canadian Register 11.2% Unlisted Options 79.2M Unlisted Options Cash A$58M Hanlong Group 35.5M Surplus Assets A$30M TCW 23.8M Institutions 14.0M 10 Year Shareholder Loan US$60M Employees 5.9M
- 15. MOLY Spinifex Ridge Location MINES 15 LIMITED Broome Major Road Rail Australia Major Port 1 Gas Pipeline 100kms Port Hedland Yarrie (Fe) Dampier Karratha Spinifex Ridge 1 Marble Bar Telfer Woodie Woodie (Au, Cu) (Mn) Nifty (Cu) Tom Price (Fe) Cloudbreak (Fe) 95 Western Australia Paraburdoo (Fe) Mt Newman (Fe) Moly Mines Limited
- 16. MOLY Tenure MINES 16 LIMITED EL – Exploration Licence Iron Ore Resource 1.5kms 5.3 Mt @ 59% Fe Rockchip Sample Granite GPL – General Purpose Lease 64.7% Fe Granite 55.8% Fe Basalt 59.2% Fe 60.2% Fe Basalt Iron Formation Ultramafic 55.2% Fe 56.1% Fe 61.9% Fe 61.6% Fe 61.4% Fe Basalt 55.1% Fe Basalt Felsics Basalt Molybdenum-Copper Resource 652Mt @ 0.05% Mo, 0.08% Cu Ultramafic Basalt Granite ML – Mining Leases Spinifex Ridge Iron Ore Project
- 17. MOLY Integrated Project Development Schedule MINES 17 LIMITED Iron Ore Project Construction Operations & “FOOS” Fe Sales Moly Project Hanlong Investment US$500m Drawdown and Construction Commissioning Mo/Cu Sales 2010 2011 2012 2013 2014
- 18. MOLY MINES 18 LIMITED Spinifex Ridge Iron Ore Project
- 19. MOLY Spinifex Ridge Site Layout MINES 19 LIMITED Waste Dump NORTH Auton Port Hedland (170kms) Dalek Gallifrey Spinifex Ridge Molybdenum-Copper Deposit (500m) ROM Pad, Ore Reserve Crushing, Ore Stockpile 4.3 Mt @ 59.2% Fe Marble Bar(50kms) Spinifex Ridge Iron Ore Project
- 20. MOLY Resource / Reserves & Permitting Status MINES 20 LIMITED Fe SiO2 Al2O3 P S LOI Resource tonnes (%) (%) (%) (%) (PPM) (%) Indicated 5,310,000 58.4 9.3 1.6 0.145 113 4.7 Inferred 2,330,000 57.9 13.4 0.8 0.114 52 2.8 50% Fe cut-off Fe SiO2 Al2O3 P S LOI Reserve tonnes (%) (%) (%) (%) (PPM) (%) Proven 4,334,000 59.2 8.0 1.8 0.13 122 4.9 Mining leases granted Environmental approvals in place Mining proposal approved Initial port access agreement in place Spinifex Ridge Iron Ore Project
- 21. MOLY Construction Near Complete MINES 21 LIMITED Haul roads established Water pipelines laid Camp procured Mining contracted Crushing/screening contracted Plant commissioning – mid October Capital cost: <$15M Spinifex Ridge Iron Ore Project
- 22. MOLY Commencement of Mining MINES 22 LIMITED Moly Mines Limited
- 23. MOLY Operations MINES 23 LIMITED Mining - BGC 70 Contracted 60 50 Mobilize mid September 40 Mining rate 1MT/A capable of 30 immediate expansion to 1.4MT/A 20 10 Crushing – Rapid Crushing 0 2010 2011 2012 2013 2014 2015 Contracted Operating Cost Mine Gate US$/T - FOB Mobilize plant October Life of mine operating cost FOB: Haulage – near term award US$47/T First haulage mid November First ore shipment – December Port – Utah Point, Port Hedland 2010 Handover 6 November 2010 Spinifex Ridge Iron Ore Project
- 24. MOLY Sales MINES 24 LIMITED Offtake Hanlong Steel mills Forecast Fe prices strong CRU group forecast current spot prices to remain firm through 2013/2014 Spot FOB price(1): US$129/T Moly Mines stockpile area at Utah Point, Port Hedland Strong project cashflows support On track for handover 6 November 2010 moly project development (1) Platts IODEX 62% Fe CFR North China 3 September 2010, adjusted for capesize freight Spinifex Ridge Iron Ore Project
- 25. MOLY MINES 25 LIMITED Spinifex Ridge Molybdenum Project Transportation of mill sections, Perth China Information
- 26. Molybdenum – a metal for our time MOLY MINES 26 LIMITED Prices Found a floor at US$15.00/lb Limited western world demand through GFC China currently the dominant player and net importer Limited global stocks End 2008 and early 2009 price levels prove unsustainable as higher cost marginal produces in China withdraw from market Supply Demand No new supply sources – existing by-product producers at full capacity Global consumption 2009: 437M lb The world needs new primary molybdenum mines Consumption grew at 8.2% 2002-2008 before contracting in 2009 Large new mines need high molybdenum prices and strategic partners to be funded Stainless steel Energy applications
- 27. MOLY Low-Risk / Low Cost Open Pit Mining MINES 27 LIMITED Highlights Conventional open pit Australia Pit design has been optimised to maximise grades early and to fit Port Hedland (170kms) processing requirements Fe Pits Airstrip Favourable mining characteristics: Mo Camp / Village Deposit is porphyry with continuous mineralization Waste 1 ROM Dry Stack Tailings Minimal grade control or dilution issue – Waste 2 low grade halo de-risks mining High Grade Plant & Minimal requirement for selective Stockpile Administration mining Mo Cu Pit Pit Low Grade Mining fleet based on conventional Stockpile open-pit mining equipment: Creek Diversion Specified equipment or alternatives can Waste 3 be readily mobilised by contractors Channel Conventional comminution and Pit Office/ flotation processing Workshops Dry stack tailings – operational/environmental advantages Spinifex Ridge Molybdenum Project
- 28. MOLY Reserves and Mineral Resources MINES 28 LIMITED Reserves Relative Competitiveness JORC / NI43-101 Mt Mo% Cu% Ag g/t MoEq%1 Top 5 primary molybdenum classification resource globally by Proven reserves 199.7 0.06 0.10 1.5 0.09 contained metal Mo Equiv. reserve grade is Probable reserves 251.1 0.04 0.07 1.1 0.06 comparable to other TOTAL 450.8 0.05 0.08 1.3 0.07 western world primary molybdenum projects First 10 yrs Resources 45 yr mine life 0.10% Complemented by Iron Ore JORC / NI43-101 Fully permitted ready to Mt Mo% Cu% Ag g/t MoEq% build classification Measured resources 206.8 0.06 0.10 1.5 0.09 Indicated resources 445.4 0.04 0.07 1.1 0.06 TOTAL 652.2 0.04 0.08 1.2 0.07 Note—Reserves are a sub-set of Resources Inferred resources 399.0 0.04 0.07 1.1 0.06 0.02% Mo cut-off assumed for resources 0.03% Mo cut-off assumed for reserves Capacity for life extension & 1 – Mo equivalent calculated on contained metal @ 4QCY09 average metal prices expansion Spinifex Ridge Molybdenum Project
- 29. MOLY Phase 1 – Startup Project MINES 29 LIMITED 10 Mtpa 10 Mtpa Resource Pit Shell Initial head-grade – 0.07% Mo, 0.11% Cu (1st 10 years) 12-13 Million lbs Mo per year Utilizes large scale equipment purchased for 20 Mtpa plant 20Mtpa Resource 0.02% Mo Shell Pit Shell 20 month construction period from full project funding Capital cost - A$528M – A$558M (plus A$70M for power station if not financed by 3rd party) Operating cost US$7.20/lb (1) (first 10 years – mine gate) 0.09% Mo Shell - High Grade Core 0.04% Mo Shell (1) – At commercial production. Source: NI43-101 Technical Report dated 25 August 2009
- 30. MOLY Long Lead Equipment Orders Completed MINES 30 LIMITED Spinifex Ridge Molybdenum Project
- 31. MOLY Economics – High and Low Case Scenarios MINES 31 LIMITED 10 Mtpa Case Pre-tax IRR (nominal Price Scenario EBITDA (A$M) Pre-tax NPV (A$M) converted) US$30/lb 455 1,599 30.8 US$23.6/lb (3 Year Average) 319 847 23.2 US$20/lb 243 434 18.5 Expansion Case (to 20 Mtpa) Pre-tax IRR (nominal Price Scenario EBITDA (A$M) Pre-tax NPV (A$M) converted) US$30/lb 720 2,466 34.1 US$23.6/lb (3 Year Average) 485 1,332 25.8 US$20/lb 354 709 20.4 Financial analysis based on 20 Mtpa DFS and 10 Mtpa Scoping Study Moly Mines believes long term molybdenum prices required to be > US$20/lb to support new primary mine development and meet projected supply shortfall Source: NI43-101 Technical Report dated 25 August 2009 adjusted for forward curves
- 32. Mo and Fe Forecast Project Cashflows…..this MOLY MINES decade 32 LIMITED Mo cashflow continues 25 450 Production (Mlb's/T's) Operating Cash Flow (A$M) 400 20 350 Mo Production (Ib) Fe Production (Tonnes) 300 Annual Operating Cash Flow (A$) 15 250 200 10 150 100 5 50 0 0 (50) Mo production continues for 20+ years Fe production starts Mo production starts
- 33. MOLY Experienced Team MINES 33 LIMITED Board of Directors Mr. David Craig - Chairman Mr. Michael Senft - Independent Non-Executive Director An experienced businessman and lawyer, who has held and Over 25 years investment banking experience having held senior holds Executive and Board positions in the fields of law, financial executive roles with Merrill Lynch and UBS in New York and services and the resources industry. Appointed as Chairman in London. 2009 Mr. David Nixon – Independent Non-Executive Director Dr. Derek Fisher – CEO/Managing Director A mechanical engineer with 40 years experience in the Over 40 years of worldwide experience in the resource industry, mining and construction industries in Southern Africa, more than 20 years experience as a manager of publicly listed Australia, New Zealand, Canada and Indonesia. resource companies, in addition to serving as a director of mining companies that developed mines in Australia, Mongolia, Armenia and the DRC. Mr. Steven Xiao – Executive Director Over 15 years experience in finance and investment working for globally Mr. Liu Han – Non-Executive Director recognised investment banks and financial organisations. Skilled in capital utilisation and industry integration with extensive global Over the past 10 years Mr. Liu has built the Sichuan Hanlong Group into M&A experience. a modern and international company . He is well known fort his philanthropic work and has been awarded national recognition. Mr. Liu was named one of the 10 most influential people on the economy of Mr. Andy Zhmurovsky – Non-Executive Director Sichuan in the past 30 years. Holds a Bachelor of Business Administration with Honors from the Mr. Sun Xiaodong – Non-Executive Director University of Texas at Austin. Mr. Zhmurovsky is the Senior Vice President within the Energy and Infrastructure Group at TCW. A experienced executive with responsibility for a broad portfolio of companies including mining, infrastructure, LPG, Mr. Nelson Chen – Alternate Non-Executive Director pharmaceuticals and property development. Mr. Liu has appointed Mr. Chen as his alternate director. Mr Chen holds postgraduate degrees in finance and accounting and is fully bilingual. He brings with him extensive cross cultural professional experience. Moly Mines Limited
- 34. MOLY Experienced Team – Management MINES 34 LIMITED Key Managers Mr. Collis Thorp – Chief Operating Officer Mr. David Pass –Manager Metallurgy 40 years mining experience, having operated and managed open-pit and underground David holds a Bachelor of Science and a double major: Extractive Metallurgy and mines in Australia and internationally. Experience covers precious, base and specialty Chemistry from Murdoch University, Western Australia and has over 25 years hard metal operations, including gold, tin, tungsten, titanium and zircon. rock mining experience. Prior to joining Moly Mines David spent 12 years with Placer Dome’s (now Newmont Mining) Granny Smith operation holding senior metallurgist, plant operator and processing manager positions. David has also held senior metallurgical roles at Plutonic Gold Mine and with BP Mineral Australia. Mr. Mike Gloyne – General Manager Operations Mr. Graeme Kininmonth –Manager Health & Safety and Mike holds a Bachelor of Science, Mining Engineering, University of Newcastle Upon Tyne, England, a WA Unrestricted Quarry Managers Certificate and a Northern Territory Environment Mine Managers Certificate. Over 30 years of mine management and operations experience in iron ore, manganese and gold for companies including Hamersley Iron Graeme holds a Bachelor of Science from Australian National University and has over (now Rio Tinto) and Dominion Mining. Over 10 years in executive management 30 years experience including management of project approvals processes in senior positions with major mining contractors such as Henry Walker, Boral and Brambles. environmental and site management positions for Straits Resource ,Sons of Gwalia and Cable Sands. Mr. John McEvoy – Chief Financial Officer Mrs. Barbara Kwiecien –Manager Land Administration John is a Chartered Accountant and holds a Bachelor of Science Honours in Mathematics with Applications from Southampton University. John has held mine 28 years of international experience within land and tenure administration and accountant, commercial manager roles and financial controller roles since 1989 and land access negotiations. An accredited mediator, she has facilitated her work internationally, specifically with indigenous people. has held CFO or Company Secretary roles for Australian and AIM listed companies since 2004. Previously held positions with Barrick Gold, Wiluna Mines & Cable Sands. Mr. Andrew Worland – Company Secretary , General Ms. Xu Chuanmei Manager Commercial & Marketing MA Degree from China University of Geosciences. Ms Xu has extensive Andrew is a qualified accountant with a Bachelor of Commerce (Accounting and experience working with Chinese and international resource sectors, and is highly Finance) from the University of Western Australia. Over 16 years corporate, finance skillful in intercultural communications and negotiations. She also specialises in and company secretarial experience in the resources industry commencing with Arthur international trade and marketing. Andersen Chartered Accountants and spending the last 12 years in senior management positions within mining houses. Moly Mines Limited
- 35. MOLY Competence and Responsibility MINES 35 LIMITED Molybdenum Copper The information in this release that relates to drill data and geological interpretation is based on information compiled by Dr Derek Fisher, Mr Ben Cairns who are Members of the Australasian Institute of Mining and Metallurgy. The information in this release that relates to Mineral Resources is based on information compiled by Mr Clay Gordon who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Dr Fisher is employed by Trillium Investments Pty Ltd which is contracted to provide management services to Moly Mines, Mr Cairns is a full-time employee of Moly Mines and Mr Gordon is employed by Mining Assets Pty Ltd. Each of Dr Fisher, Mr Cairns and Mr Gordon have sufficient experience which is relevant to the style of mineralization 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, Mineral Resources and Ore Reserves’. They consent to the inclusion in this release of the matters based on their information in the form and context in which it appears. Iron Ore The information in this presentation that relates to drill data and geological interpretation is based on information compiled by Mr Ben Cairns who is a Member of the Australian Institute of Geoscientists. The information in this presentation that relates to Mineral Resources is based on information compiled by Mr Clay Gordon who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Cairns is a full-time employee of the company and Mr Gordon is employed by Mining Assets Pty Ltd. Both Mr Cairns and Mr Gordon have 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, Mineral Resources and Ore Reserves’. Both Mr Cairns and Mr Gordan are Qualified Persons within the meaning of such term under National Instrument NI43-101 . Mr Cairns and Mr Gordon consent to the inclusion in this presentation of the matters based on their information in the form and context in which it appears. The information contained in this presentation that relates to Mineral Reserves is based on information compiled and verified under the supervision of Mr Roger Pooley who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Pooley is a Senior Mining Consultant with SRK Consulting (Australasia) Pty Ltd, and 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 Qualified Person for purposes of National Instrument 43-101 and as a Competent Person as defined in the 2004 edition of The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves under JORC. Mr Pooley consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears in this document. Moly Mines Limited
- 36. MOLY MINES 36 LIMITED 50 Kings Park Rd, West Perth, WA, 6005, AUSTRALIA Telephone: +61 8 9429 3300 Fax: +61 8 9429 3399 Telephone: +1 416 371 7541 Email: info@molymines.com Website: http://www.molymines.com Stock market codes: ASX: MOL, TSX: MOL, FWB: HJ1 Moly Mines Contact Details
- 37. GLOBAL MINING INVESTMENT CONFERENCE 2010 Lead sponsors: Media partners: Other sponsors & participating organisations:
- 38. Eagle Hill Exploration Corp. WINDFALL LAKE PROPERTY, QUEBEC BULK TONNAGE GOLD EXPLORATION SEPTEMBER 2010
- 39. FORWARD LOOKING STATEMENTS This presentation contains certain statements that may be deemed “forward-looking statements”. All statements, other than statements of historical fact, that address events or developments that Eagle Hill Exploration Inc. expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects” “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Eagle Hill Exploration 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward- looking statements include market prices, exploration and production successes or failures, continued availability of capital and financing, inability to obtain required shareholder or regulatory approvals, and general economic market or business conditions. statements. Forward-looking statements are based on the beliefs, estimates and opinions of Eagle Hill’s management on the date the statements are made. 3
- 40. EAGLE HILL EXPLORATION CORP. Presentation Agenda: • Corporate Information • Windfall’s Exploration History • Eagle Hill’s Recent Exploration • Project Status • Next Steps 4
- 41. EAGLE HILL EXPLORATION CORP. Share Capital: August 31, 2010 SYMBOL: TSX.V:EAG MARKET CAP (Issued): $21.9 million 52-WEEK RANGE (Hi-Lo): $0.62 - $0.07 (Source: TSX.V) SHARES OUTSTANDING: 87.7 Million WARRANTS: 22.4 Million OPTIONS: 5.5 Million FULLY DILUTED: 115.6 Million AVERAGE DAILY TRADING VOLUME: 400,000 shares (past three months) 5
- 42. EAGLE HILL EXPLORATION CORP. • Gold exploration in Quebec – top ranked jurisdiction globally for mining and exploration • Bulk tonnage gold mineralization in multiple zones • Gold zones open in several directions • Currently 5 large gold zones systematically being developed • 16,000 meters of drilling completed in last 8 months • Aggressive exploration continues – next two drill programs planned 6
- 43. EAGLE HILL EXPLORATION CORP. Board of Directors: Brad Kitchen, President and Chief Executive Officer Richard Nemis, Director (Former President of Noront Resources Ltd.) John Harvey, Director (Former Chief Operating Officer of Noront Resources Ltd.) Gerald Ruth, Director (Previous Head of TSX Listings) Andre C. Tessier, Director (President of Murgor Resources Inc.) Cale Thomas, Chief Financial Officer and Director Amandeep Rai, Corporate Secretary 7
- 44. EAGLE HILL EXPLORATION CORP. Geological Team EXPLORATION •Dr. Jean-Philippe Desrochers, P.Geo. •Neil W. Richardson, P.Geo. •Andre C. Tessier, P.Geo., P.Eng. TECHNICAL ADVISORS •Mackenzie I. Watson, P.Eng. •Wes Roberts, P.Eng. •Ian Chisholm, P.Geo •Terry Schorn, P.Geo. •Peter Vamos, P. Geo. •Robert Bryce, Ing. 8
- 45. EAGLE HILL EXPLORATION CORP. • Canadian gold exploration Company with advanced- stage gold property: - Windfall Lake Propety near Val d’Or, Quebec (acquired from Noront, Freewest and Murgor). 9
- 46. EAGLE HILL EXPLORATION CORP.: Claim Map 10
- 47. EAGLE HILL EXPLORATION CORP. Prior to Eagle Hill Acquisition in September 2009: •Over $25 million spent on the property by previous developers •Excellent infrastructure •331 holes drilled •1,453 meter underground ramp •58 person operating camp 11
- 48. EAGLE HILL EXPLORATION CORP. Results: • October 2009 – Company initiates exploration data interpretation • 16,000 metres of drilling • 3 surface and borehole geophysical surveys Narrow veins Large mineralized zones High grade Lower grade Discontinuous Continuous 12
- 49. EAGLE HILL EXPLORATION CORP.: New Assays Historical Values (never released) Length Au (g/t) Au (g/t) Hole Number From (m) To (m) (m) (uncut) Cut to 15g/t NOT-04-27 381.20 415.75 34.55 3.90 3.42 NOT-05-73 351.45 368.75 17.30 39.94 2.08 NOT-05-82 310.80 331.70 20.90 9.51 2.03 NOT-05-83 224.10 235.35 11.25 3.63 3.13 New Assay Values (drilled but untested core) NOT-07-115 237.00 238.00 1.00 64.20 Uncut NOT-07-157 237.65 259.00 21.35 5.95 3.60 NOT-07-157 284.90 326.00 41.10 2.83 2.62 13
- 50. EAGLE HILL EXPLORATION CORP. 2010 Drill Program New Assay Values Length Au (g/t) Au (g/t) Hole Number From (m) To (m) (m) (uncut) Cut to 15g/t EAG-10-196 254.0 306.0 52.0 14.51 3.01 including 271.0 287.0 16.0 38.69 5.49 EAG-10-238 316.4 341.0 24.6 3.35 3.35 EAG-10-238 299.0 304.1 5.1 14.36 9.51 EAG-10-240 59.0 71.0 12.0 17.36 10.97 EAG-10-240 331.2 347.0 15.8 2.07 2.07 14
- 51. EAGLE HILL EXPLORATION CORP. 3D Block Model Existing Boreholes (n: 331) 15
- 52. EAGLE HILL EXPLORATION CORP.: 3D MODEL Shallow gold zones Reaching surface Open pit potential Open below intrusion Porphyry intrusions Open below intrusion Mineralized Gold Zones Down plunge extension 16
- 53. EAGLE HILL EXPLORATION CORP.: 3D MODEL 17
- 54. EAGLE HILL EXPLORATION CORP. 18
- 55. EAGLE HILL EXPLORATION CORP. Summer 2010 IP Mapping 19
- 56. EAGLE HILL EXPLORATION CORP. Program – Next Nine Months Budget Integrate ground geophysics into geological model – identify $120,000 additional drill targets Assay existing ore piles to prepare for bulk sampling 32,000 Trenching program to better determine the geometry of this 75,000 gold system Conduct metallurgical studies to evaluate gold recoveries 25,000 Complete environmental baseline study 78,500 10,000 meter two phase drill program 2,500,000 Total: $2,830,500 20
- 57. EAGLE HILL EXPLORATION CORP. Eagle Hill Exploration Inc. Suite 601 – 999 Canada Place Vancouver, BC V6C 3E1 P. Bradley Kitchen Tel: 1.604.697.5792 Brad.Kitchen@eaglehillexploration.com Investor Relations Contacts Neil Simon; Christian Scovenna Investor Cubed Inc. (Toronto) Tel: 1.647.258.3311 TF: 1.888.258.3323 info@investor3.ca Nathalie Dion MI3 Communications Financières Inc. (Montréal) Telephone: 514.904.1333 Email: nathalie@mi3.ca www.mi3.ca 21
- 58. GLOBAL MINING INVESTMENT CONFERENCE 2010 Lead sponsors: Media partners: Other sponsors & participating organisations:
- 59. Presented by Stefan Wozniak, September 29, 2010 Marshall Lake Property Copper . Gold . Silver . Zinc A Joint Venture with Norton Lake Property and Nickel . Copper . Cobalt . Palladium A Joint Venture with TSX-V: WTC Frankfurt: W0I-FF
- 60. FORWARD-LOOKING STATEMENTS THESE PRESENTATION MATERIALS INCLUDE CERTAIN STATEMENTS WHICH MAY BE DEEMED TO BE “FORWARD LOOKING STATEMENTS” WITHIN THE MEANING OF SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT, INCLUDED HEREIN ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS MAY DIFFER MATERIALLY FROM THOSE FORWARD- LOOKING STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY’S EXPECTATIONS INCLUDE (BUT ARE NOT LIMITED TO) MARKET PRICES, EXPLOITATION AND EXPLORATION SUCCESSES, CONTINUED AVAILABILITY OF CAPITAL AND FINANCING, AND GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS. ADDITIONAL INFORMATION ON FACTORS THAT MAY AFFECT THE COMPANY’S RESULTS ARE DISCLOSED IN THE COMPANY’S DOCUMENTS FILED FROM TIME TO TIME WITH THE BRITISH COLUMBIA SECURITIES COMMISSION. THIS IS NOT TO BE CONSTRUED AS AN OFFER TO BUY OR SELL SECURITIES OF WHITE TIGER MINING CORP. COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 61. COMPANY DATA White Tiger Mining Corp. TSX-V: WTC Frankfurt: W0I-FF Current Trading Price $0.25 Issued & Outstanding 10,434,410 Options & Warrants 3,727,764 Fully Diluted 14,162,174 Market Capitalization $3,540,543 (based on fully diluted) As at September 10, 2010 COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 62. TEAM SPOTLIGHT Management and Directors Douglas L. Mason Chairman Ronald A. Coombes President & C.E.O. Sead Hamzagic C.F.O. Bruce E. Morley Director & Counsel Robert Middleton, PEng Qualified Person Stefan Wozniak, BASc Mining Exploration Manager Engineering Ed Yurkowski Director & Advisory Board Henry Ewanchuk Advisory Board COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 63. Copper . Gold . Silver . Zinc
- 64. MARSHALL LAKE LOCATION Canada’s major railway COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 65. MARSHALL SHOWINGS Summit Pluton North Cu Zone Marshall Lake North Diabase Anarod Zone Gripp Main Billiton Zone Lake D Zone Swamp Zone Gold Zone South Billiton Zone Jewel Box Open Pit Zone Gazooma North G Zone Lease Cherry Hill Cherry Hill West Teck Hill North Gazooma Tala Gazooma South Teck Hill South Deep IP Lin Zn 1 Km COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 66. WHERE WE ARE Historical results Data compilation of more than $30 million spent by Teck Resources, BHP Billiton, NWT, Esso Minerals, Marshall Lake PLC and Rainy Mountain Royalty Corp. Mineralized zones discovered now grouped within one camp Planned drilling to increase the known size and add additional tonnage Modeling of historical data to determine targets for current drill program COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 67. WHERE WE ARE GOING Phase 1 Expand two new high grade discoveries from recent drill programs near surface Expand the historical discoveries Bring historical and current drilling into 43-101 compliant resources Phase 2 Raise the capital necessary to bring the resources to pre-feasability stage These deposits have a high probability of becoming mineable COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 68. HISTORICAL RESOURCE Billiton Main Zone 1.2 million tons of 0.82% Cu, 2.71% Zn, 50.17 g/t Ag and 0.17 g/t Au (A.S. Bayne, 1970) Teck Hill 240,000 tons of 1.45% Cu, 4.76% Zn and 79.37 g/t Ag (D.W. Sullivan, 1969) COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 69. GAZOOMA CROSS SECTION Ag Au Hole Width(m) Cu(%) (g/tonne) (g/tonne) GAZ-06-01 27.9 1.18 21.3 0.18 GAZ-06-02 26.9 2.05 34.7 0.31 Expected high grade mineral Extension to the South Expected additional mineralization COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 70. GAZOOMA DRILLING GAZN-07-02 31.90 0.71 3.0 0.11 Hole Width(m) Cu(%) Ag(g/tonne) Au (g/tonne) Including 24.9 0.82 4.0 0.12 GAZN-08-06 24.0 1.74 8.9 0.32 Including 5.0 3.36 17.1 0.68 GAZ-06-01 27.9 1.18 21.3 0.18 Hole Width(m) Cu(%) Ag(g/tonne) Au (g/tonne) Including 7.0 1.77 31.3 0.25 GAZ-06-02 26.9 2.05 34.7 0.31 Including 17.9 2.79 47.2 0.38 TK-08-09 50.5 0.84 9.1 0.04 Including 4.25 3.79 38.3 0.26 COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 71. NORTH GAZOOMA CROSS SECTION COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 72. TECK HILL TRENCH 4m wide Massive Sulphides COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 73. MAIN BILLITON ZONE TRENCHING Up to: 2.7% Cu and 1.25% Zn over 12 feet in trenching Resources (non 43-101 compliant) 1.2 million tons of 0.82% Cu, 2.71% Zn, 50.17 g/t Ag and 0.17 g/t Au (A.S. Bayne, 1970) COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 74. MARKET PRICES METAL PRICE Copper $3.46 (lb) Gold $1,275.00 (oz) Silver $20.61 (oz) Zinc $0.96 (lb) Source: Bloomberg – Sept. 21, 2010 COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 75. EXPLORATION METHODS USED COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 76. IP MAP OF MARSHALL LAKE 454500mE 455000mE 455500mE 456000mE 456500mE 457000mE 457500mE 458000mE 458500mE NORTH COPPER ZONE 5586500mN N 16W 15W 14W 13W 12W 11W 10W 9W 8W 0E 1E 2E 3E 4E 5E 6E 7E 8E 9E 10E 11E 12E BL-0 BL-0 NORTH DIABASE ADNAROD ZONE Cu ZONE 5586000mN MAR-06-09,10 Zn MAR-06-07,08 MAR-06-05,06 MAR-06-03,04 MAR-06-01,02 MAIN ZONE D ZONE Cu Gripp 5585500mN Cu Cu Cu MAR-06-11 Cu Lake 1150S TL 1150S TL DZ-07-01 SOUTH ZONE 5585000mN GAZOOMA NORTH GRIPP OPEN PIT BL-0 CAMP ZONE JEWEL BOX 3W GAZN-07-011W 2W 9N 4W 0E1E 2E 8W 7W 3E 4E 5E 6E 5W 8N 8N GAZN-07-03 10E 6W 7N Cu 7N G 7E GAZN-07-04 ZONE 5584500mN 6N 8E 9E 10E 11E 12E GAZN-07-02 Cu 5N CuG-07-01 5N 4N 4N LEASE 3N 3N CHERRY 10W Moose 2N HILL 4E Lake 2200 2N 8W 6W 3W 2W 9W 7W 4W 2E 5W 1W 5584000mN 1N 1N 4W 2W 1W 3E 7+50E 9+50E 3W 13+50E BL-0 3E 5E 6E 7E 11E BL-0 12E 13E 14E 15E 16E deep BL-0 1S GAZOOMA ZONE deep deep GAZ-06-01,02 deep 22E GAZ-07-04 23E 2S Cu deep deep 24E deep 25E 26E 27E 28E 3S GAZ-07-03 Cu,Au 5583500mN 4S TH-07-01 5S 6S TECK ZONE 19E 20E Cu Zn 21E 7S surface TL-5S 8S deep deep 5583000mN 9S + + + 10S EAST WEST RESOURCE CORPORATION TL-12S 11S 12S 3E 4E 5E 6E 7E 8E 9E 10E 11E 12E 13E GEOPHYSICAL COMPILATION KILOMETRES BL-0 MARSHALL LAKE AREA GAZ 0 500 1000 THUNDER BAY, ONTARIO 17E 18E 19E 20E 21E 22E COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 77. MARSHALL SHOWINGS Summit Pluton North Cu Zone Marshall Lake North Diabase Anarod Zone Gripp Main Billiton Zone Lake D Zone Swamp Zone Gold Zone South Billiton Zone Jewel Box Open Pit Zone Gazooma North G Zone Lease Cherry Hill Cherry Hill West Teck Hill North Gazooma Tala Gazooma South Teck Hill South Deep IP Lin Zn 1 Km COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 78. Nickel . Copper . Cobalt . Palladium
- 79. NORTON LAKE PROPERTY Pd Category Tonnes Ni Grade (%) Cu Grade (%) Co Grade (%) Measured 1,769,721 0.67 0.61 0.03 0.46 Grade(g/t) Indicated 488,933 0.67 0.61 0.03 0.47 Total 2,258,654 0.67 0.61 0.03 0.46 Inferred 198,571 0.66 0.59 0.03 0.47 Table 19-1. Norton Lake Ni-Cu-Co Deposit Mineral Resource Estimate reported at 0.3% Ni cut-off. Source: White Tiger Mining Corp. Independent Technical Report – May 1, 2009 as prepared by Caracle Creek International Consulting Inc. COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 80. NORTON LAKE PROPERTY Measured 1,769,721 26,259,776 23,814,776 1,243,172 26,284 Category Tonnes Ni (lbs) Cu (lbs) Co (lbs) Pd (oz) Indicated 488,933 7,266,556 6,562,805 330,964 7,398 Total 2,258,654 33,526,332 30,377,270 1,574,136 33,682 Inferred 198,571 2,906,224 2,564,708 135,649 2,993 Table 19-3. In situ metal content of the Norton Lake Ni-Cu-Co Deposit, using 0.3% Ni cut-off. Source: White Tiger Mining Corp. Independent Technical Report – May 1, 2009 as prepared by Caracle Creek International Consulting Inc. COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 81. NORTON LAKE PROPERTY From(m) To (m) Interval(m) Ni (%) Cu (%) Pt (g/t) Pd (g/t) Co (%) Drill Hole U-4 85 98 13 0.77 0.84 0.09 1.75 0.026 From(m) To (m) Interval(m) Ni (%) Cu (%) Pt (g/t) Pd (g/t) Co (%) Drill Hole U-14 121 130 9.0 0.71 0.31 0.35 0.54 0.033 COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 82. MARKET PRICES METAL PRICE Nickel $10.12 (lb) Copper $3.46 (lb) Cobalt $19.50 (lb) Paladium $530.00 (oz) Platinum $1,614.00 (oz) Source: Bloomberg – Sept. 21, 2010 COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 83. PROPOSED TERM SHEET Issuer: WHITE TIGER MINING CORP. Financing: Non brokered private placement to raise $2,000,000Cdn Type of security: Common Stock Number of Units: 8,000,000 Units at $0.25Cdn per Unit Unit: Each Unit will consist of one common share and one half of a share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.30 for a period of one year from the closing date Hold period: 4 month (statutory) Capitalization of the Current issued and outstanding – 10.4 million common Company: shares Current trading price: $0.25 as at September 10, 2010 52 week hi/low: $0.34 - $0.20 Intended use of proceeds: Continued exploration and core drilling of the Marshall Lake Property Finders Fee: 8% payable in cash or in units or a combination COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 84. CONTACT Clive Shallow Shareholder Relations Tel: 604 922 2030 ext. 403 Waterfront Mining Group clive@waterfrontgroup.com Website: www.whitetigermining.com COPPER . GOLD TSX-V: WTC FRANKURT: W0I-FF SILVER . ZINC
- 85. GLOBAL MINING INVESTMENT CONFERENCE 2010 Lead sponsors: Media partners: Other sponsors & participating organisations:
- 108. GLOBAL MINING INVESTMENT CONFERENCE 2010 Lead sponsors: Media partners: Other sponsors & participating organisations: