* all in australian dollar denominations
TRANSCRIPT
0.10
0.15
0.19
0.24
0.28
0.0
0.5
1.0
1.5
2.0
2.5
24
-Ju
n-1
3
22
-Ju
l-1
3
19
-Aug
-13
16
-Sep
-13
14
-Oct-
13
11
-Nov-1
3
09
-Dec-1
3
06
-Ja
n-1
4
03
-Fe
b-1
4
03
-Ma
r-1
4
31
-Ma
r-1
4
28
-Apr-
14
26
-Ma
y-1
4
23
-Ju
n-1
4
Share
pric
e ($
)
Volu
me (
m)
Volume Period average volume Share price
High $0.27
Low$0.11
* All in Australian Dollar denominations
people
Rare earth operational experience
Expertise in commodity trading
Global development & construction experience
Strategic management & leadership
Financing & capital raising
International mining knowledgeCommitment
ValuesConfidence
Engagement
Honesty
SuccessSPIRIT
Initiative
Results
Professionalism
Relationships
Management
Leadership
Experience
Knowledge
Integrity
Board
Deliver
Develop
Colin McCavana
Yanchun Wang
Adrian Griffin
Kevin Schultz
Conglin Yue
Robin Wilson
Mark Tory
Robin Jones
Bin Cai
Robert Sills
Executive
OurGeorge Bauk
net present value1
payback from commencement
of operations
average annual operating free
cash flow during full operation
internal rate of return
production in
pre-production capital cost
Dy net of by-product revenue
110% discount rate
1 The Mineral Resource is inclusive of the Ore Reserves
Source: Curtin-IMCOA May 2014 and NTU
total LOM revenue
average annual operating free
cash flow during full operation
Area 5 5km
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
• Identified HRE mineralisation at Browns Range• Acquisitions included John Galt and Browns Range NT • Completed first metallurgical test on Browns Range
• Drilling confirms HRE at Wolverine, Gambit and Area 5• Flowsheet developed, low capital costs • Pathway to production schedule developed
• Initial JORC resource at Wolverine • HRE Oxide >92% purity produced, expanding project scope • MoU signed for offtake with Sumitomo Corporation
• Funding strategy initiatives in place • JORC resource upgrade of 165%• Lodged mining lease application
• JORC increase in resource 47,977,000kg• Native title signed and mining lease granted • Maiden JORC Reserve and PFS delivers robust economics
1Rounding may cause some computational discrepancies Cut off at 0.15% TREOTREO = Total Rare Earth Oxides - Total of La2O3, CeO2, Pr6O11, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3
HREO = Heavy Rare Earth Oxides– Total of Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu3, Y2O3
Figures may not add due to rounding
Based on LOM of 9.67 years.
TREO = Total Rare Earth Oxides- Total of Dy2O3,La2O3, CeO2,
Pr6O11, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Ho2O3, Er2O3,
Tm2O3, Yb2O3, Lu2O3, Y2O3
By-product Oxides- Total of La2O3, CeO2, Pr6O11, Nd2O3,
Sm2O3, Eu2O3, Gd2O3, Tb4O7, Ho2O3, Er2O3, Tm2O3, Yb2O3,
Lu2O3, Y2O3