Denver, Wednesday February 29, 2012Connecting investors to opportunities   www.symposium.net.au
Denver, Wednesday February 29, 2012Connecting investors to opportunities   www.symposium.net.au
Kerry Stevenson                   Managing Director                      SymposiumConnecting investors to opportunities   ...
Mr Stuart A Sanderson                        President               Colorado Mining AssociationConnecting investors to op...
Wally Bucknell                        Executive Director                          Atlantic Gold NLConnecting investors to ...
PIPELINE OF GOLD PRODUCTION       IN NOVA SCOTIA…applying Australian expertise to anoverlooked Canadian gold province…    ...
OVERVIEW•Track record of gold discovery and production inWestern Australia•Focused on the same, but now in the MegumaGoldf...
8
Touquoy deposit section 21625mE   9
Cochrane   Hill           10
11
MINERAL RESOURCES                                                      contained                       million tonnes   gr...
MINERAL RESOURCES                                                 contained                million tonnes   grade g/t     ...
MINERAL RESERVES                                             contained               million tonnes   grade g/t   ounces g...
TOUQUOY          15
Touquoy gold resource and geology   16
Touquoy geology and drillhole locations   17
Touquoy deposit section 21625mE   18
Touquoy Gold Project                       NQ DIAMOND CORE – HOLE MR-05-084                            121–122 m : 2.16 g/...
20
Touquoy Gold ProjectPhotomicrographs of gold grains in MR-05-084 core at 122-123 mField of view 1 mm. Light grey = arsenop...
TOUQUOY’S ADVANTAGESLow strip ratio – 2.5:1Soft ore – BWI ~ 10Excellent metallurgy – 93.5% (70% gravity)Coarse grind - 150...
23
TOUQUOY SUMMARY FINANCIALSOre reserves                    9.59Mt @ 1.48g/tProduction                      422,000 ozMine l...
25
26
27
Touquoy Gold Project            STEPS TO PRODUCTION ENVIRONMENTAL ASSESSMENT APPROVAL  FEASIBILITY STUDY COMPLETED ...
COCHRANE HILL                29
30
31
32
MINERAL RESOURCES                                               contained                 million tonnes   grade g/t   oun...
34
35
36Cross section 3200E
37
CONCEPTUAL FINANCIALS           TOUQUOY + COCHRANE HILLThroughput                   19.0Mt @ 1.6g/t for 970koz containedTo...
REGIONAL EXPLORATION                       39
40
41
42
43
44
45
46
47
MAJOR SEDIMENT-HOSTED GOLD DEPOSITS     Deposit        Location     Au (t)   Grade (g/t)         AgeMeguma           Appal...
LOOKING AHEADAT TOUQUOY:• Acquire remaining surface titles - Q2/12 (?)• Grant of Industrial Approval – Q2/12• Secure proje...
ATLANTIC GOLD NL  THE COMPANY                   50
CAPITAL STRUCTUREFully paid shares                             530.0MPartly paid shares (20 cents paid to 9 cents) 30.3MOp...
PIPELINE OF GOLD PRODUCTION       IN NOVA SCOTIA…applying Australian expertise to anoverlooked Canadian gold province…    ...
Tony Tascone                        Corporate Advisor                          Pareto CapitalConnecting investors to oppor...
An Introduction to our Investment AdvisoryGroup
About Pareto Capital Pareto is a Perth based investment advisory group offering capital raising and corporate advisory ser...
Services – Full ServiceBrokingAt Pareto, we have a team of experienced investment advisers ready to work with you to achie...
Services – CorporatePareto works closely with listed companies to assist in many of the Equity Capital Markets transaction...
Services – RoadshowsPareto specialises in organising all meetings and introductions in the region your company desires, ge...
Recent Transactions                              AUD$1.5M                                   AUD$3.4M                      ...
Frequently Asked Questions – ADG Global Supply CaseStudy Can Pareto raise up to $10million?       Working closely with ADG...
Appendix A: ADG Global Supply - $9.75m RaisedDecember 2011 - $1.5m Trade Sale of Universal Pumps BusinessCorporate adviser...
Pareto Capital Partners              Davide Bosio (B.Comm FFin GAICD)              Managing Director              Davide i...
Pareto Capital DetailsPareto Capital Pty LimitedABN 43 131 858 681 AFSL 389 395                    D: +61 (8) 6489 0800338...
John “Gus” Simpson                     Executive Chairman                    Peninsula Energy LimitedConnecting investors ...
21-Mar-12   65
DisclaimerThis presentation is provided on the basis that the Company nor its representatives make any warranty (express o...
Existing Uranium DemandDrivers• 434 operating nuclear power stations (Feb 2012)  operated by 31 countries• 240 research an...
Future Uranium Demand                                          Reactor Units and Market Demand Forecasts by Region        ...
China, India & EasternEurope Nuclear Build Out PlanThe industrialisation/urbanisation of China, India and Eastern Europe r...
Uranium Supply•   Kazakhstan ISL U3O8 Production Growth:    2000, 5mlbs                     2008, 18mlbs                  ...
Long Term Uranium Price $150                                                                                              ...
Corporate                                         Share Price                                                        5000 ...
Directors and ManagementBoard of Directors•   Executive Chairman                Gus Simpson Strong leadership, corporate a...
Business Plan –10mlbs per annum before 2025•   To commence ISR production at Lance Projects, Wyoming in 2012/13* building ...
Lance Projects-Location & Wyoming UraniumCurrently Licenced Christensen-Irigaray Sweetwater                        Lance P...
Lance Projects –   Development Model                                                                                 •   4...
Lance Projects-DFS Expanded Economic Study                                         US$ per lb    US$ / Year    Steady Stat...
Market Valuation  Analysis - Uranium ProducersMarket Cap Per Pound of Production:                               Annual    ...
Lance Projects –Exploration Potential
Resource Growth-Trend                                                                                         1,106       ...
Drilling Post June 2011Resource UpgradeHole ID    Easting   Northing     Total    Intercept ft over   From (ft)   GT      ...
Lance Projects –Strategic Partner & Uranium Sales• First sale contract USA utility: Feb 2011  WAP $75.60 per lb, 7 year co...
Lance Projects – PermittingMine permitting on scheduleDeep Disposal Wells  •   DDW feasibility study completed  •   Licenc...
Lance Projects –Proposed Development Schedule                     2009   2010   2011   2012   2013 Permitting (subject to ...
Business Plan –10mlbs per annum before 2025•   To commence ISR production at Lance Projects, Wyoming in 2012/13* building ...
Karoo Projects – Location21-Mar-12                   86
Karoo Projects – RegionalGeology21-Mar-12 Poortjie          Teekloof Member            Formation Moordenaars/ Loxton Membe...
Karoo Projects – Mineral Potential     Exploration       Tonnes              Grade                  U3O8     Potential    ...
Site 29 Uranium Potential                                    •   108km2 of Prospective                                    ...
Site 29 Cross Section  A                                            B              Diagrammatic composite section        1...
Site 22 Uranium Potential2.8mlbs U3O8 at    1,480ppm            •    GT7 prospect 2.8mlbs                             dril...
Site 22 Core Hole Cross Section       86 intercepts >1,000ppm, 272 intercepts >200ppm                                     ...
Site 45 Uranium Potential                                    25km                     •   4.3mlbs drill-defined eU3O8     ...
Karoo Projects – Project Schedule                             2010   2011   2012   2013   2014   2015   2016   2017Resourc...
Karoo Projects – Development Model•    Multiple open-pits; with central processing facility at Site 29•    All sites withi...
Karoo Projects – Conceptual Study                                              US$ per lb       US$ / Year     Assumptions...
Nationalisation Debate - NO•    President Jacob Zuma on Friday squashed more than two years of talk about the nationalisat...
Investment Highlights• Emerging uranium producer listed on the (ASX:PEN) with  established project pipeline• DFS expanded ...
Targeted Milestones•    April 2010:   Initial JORC compliant resource at Lance   •    May 2010:     Pre-feasibility study...
Andrew Haythorpe             Managing Director & Chairman                   Liberty ResourcesConnecting investors to oppor...
low cost             fertilizerASX:   LBY
Competent Person Statement                                                  DisclaimerThe information in the report to whi...
Strategic Drivers – why it is happening  Global Population Growth  Australia’s a big Importer of Fertiliser  Gas & Coal...
Low Cost Fertilizer                                  ASX:                                   LBY                           ...
The Liberty Team Management Team    – Andrew Haythorpe - Managing Director    – Steve McRae- CFO    –   Lance Harcourt - ...
Management & Shareholders Aligned  LBY shares purchased by management  CEO Skin in the game – shares not gifted  Shareh...
Projects Delivery ManagerLance has been managing projects in the Offshore Oiland Gas Industry for 30 years. During this ti...
General Manager (March 2012 )Jake has over 26 years in the Fertiliser and Coal Gasification industries and held Senior pos...
Senior Mechanical EngineerClaus holds a PhD in mechanicalengineering (Robotics), with over 30years of international experi...
AdvisorJustyn joined Linc Energy in 2006, the largest UCG company in the world. Duringhis six years with Linc, he held the...
Very low cost Fertilizer               Sources: Integer Research Limited, Liberty Resources, Uhde Shedden estimates adjust...
Insitu Gasification Advantage                                                                                             ...
Coals advantage                                                                                                           ...
LBY Leveraged to Global TrendsPopulation GrowthUrbanisation of emerging economiesDemand growth for ProteinLBY profit i...
A new Germany per year 83 million new people – every year Current world population 7 billion. Annual births 140 million...
Increasing demand for Fertilizer Global population growth Urbanization Less farm land Substantial Middle class growth ...
Fertilizer – Urbanization• ...Rising wealth• ...rising food consumption,     “Over the past three• ...fertiliser required....
New Urea capacity required Production with consumption – the gap        Source: Urea world market outlook and forecast, Me...
How we compare – China
How we compare - India
Australia depends on imported fertilizer   1.3mtpa Urea used in 2011   1.1mt imported   Ammonia imported to Urea and Ex...
Strategic location – farms and mines                          Ports                          Rail                       ...
No environmental concerns                             State logging                             No farms                ...
Coal – 1.4 billion tonnes*PROJECT   INFERRED RESOURCE          AVERAGE COAL QUALITYDENISON             1.4 billion t Mod S...
Existing Technology – directional drilling
UCG – Now commercial in QLD 10th February 2012   “ Carbon Energy Delivers Australian first in commercial   power productio...
UCG – Strong Foundation  2004 - UCG industry developing in QLD  2008 - QLD Govt commences scientific review  2009 - 3 P...
Ex USA - gas & coal price rises   Outside the USA,      Gas = 80% of the cost of Urea      Urea is made from gas or coa...
Urea Price driven by energy cost
Project Summary                                       Train 1                   Train 2                        Train3Capex...
Project Tax Summary                                     Train 1                   Train 2                      Train 3Roya...
Strategy – build the company 1. Core focus on advancing and de-risking Urea project 2. Off take agreements 3. JV with part...
Small companies - Large Projects
De-risking our investment - 3 YearsIAS – Significant Project Determination from GovtEPBC – Environmental Management Stra...
LBY Milestones for 2012  New QLD Government                      March  New UCG Policy                          July  C...
Low cost fertilizer – Questions?     World’s first truly integrated Urea Facility     Low cost, long life (100+ yrs) ope...
Fertilisers for food production  Urea                 (Nitrogen N )  Potash               (Potassium K )  Phosphate    ...
From coal to Syngas Air Separation Unit (ASU) – O2                                Syngas Clean up             Supply      ...
Syngas - hydrogen rich
Hydrogen – essential for Ammonia Air Separation           Electricity                                          Electricity...
CBM vs UCG  CBM    Pumps water from the ground    The gas rises    Large water removal cost – still unresolved  UCG  ...
Greg Starr                      Executive Chairman                      Gold Anomaly LimitedConnecting investors to opport...
Drilling for world class gold and copper                  discoveries at Crater Mountain, PNG                         Reso...
Disclaimer       This presentation contains forward-looking statements that are subject to risk factors associated with ex...
2/21/12                                                                                 Google Maps                       ...
Regional Projects – Resource Ounces                                      Crater Mountain has similar geological setting to...
Flagship asset – Crater Mountain Prime location •     PNG: +$20bn multinational investment       transforming nation •    ...
Flagship asset – Crater Mountain Mineralisation model Gold Anomaly is currently focused in the northern 20% of the Nevera ...
Crater Mountain – Mineralisation model                                      Multi-million ounce gold deposits targeted    ...
Crater Mountain ResourceMaiden inferred resource2•    790,000 ounces gold•    24 million tonnes @ 1.0 g/t AuSubstantial up...
Crater Mountain – Main Zone       High grade zones recently identified within Main Zone                                   ...
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Symposium Resources Roadshow USA

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Continued growth in Australia’s thriving resources sector presents many opportunities for individuals and organisations globally.


Why you should attend:

Learn about some of Australia’s top mining and energy companies and the booming Australian resources sector

Meet the Managing Directors and CEO’s of Australian Resources and Energy companies

Understand how to make informed decisions about off-shore funding

Who should attend:

Fund Managers
Brokers
Individuals curious about opportunities in the Australian Resources sector

Published in: Investor Relations
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Symposium Resources Roadshow USA

  1. 1. Denver, Wednesday February 29, 2012Connecting investors to opportunities www.symposium.net.au
  2. 2. Denver, Wednesday February 29, 2012Connecting investors to opportunities www.symposium.net.au
  3. 3. Kerry Stevenson Managing Director SymposiumConnecting investors to opportunities www.symposium.net.au
  4. 4. Mr Stuart A Sanderson President Colorado Mining AssociationConnecting investors to opportunities www.symposium.net.au
  5. 5. Wally Bucknell Executive Director Atlantic Gold NLConnecting investors to opportunities www.symposium.net.au
  6. 6. PIPELINE OF GOLD PRODUCTION IN NOVA SCOTIA…applying Australian expertise to anoverlooked Canadian gold province… ASX:ATV www.atlanticgold.com.au March 2012 6
  7. 7. OVERVIEW•Track record of gold discovery and production inWestern Australia•Focused on the same, but now in the MegumaGoldfield – with OPEN PIT perspective•Established 450koz Reserves within a Resourceinventory of 1.2 million ounces•Project pipeline:  Touquoy – next step: development  Cochrane Hill – next step: feasibility study  Exploration lands – next step: discovery 7
  8. 8. 8
  9. 9. Touquoy deposit section 21625mE 9
  10. 10. Cochrane Hill 10
  11. 11. 11
  12. 12. MINERAL RESOURCES contained million tonnes grade g/t ounces goldTOUQUOYMeasured & Indicated 10.1 1.5 480,000Inferred 1.6 1.5 77,000TOUQUOY WESTIndicated 0.9 1.9 54,000Inferred 0.6 2.2 45,000COCHRANE HILLIndicated 4.5 1.8 251,000Inferred 5.6 1.6 298,000TOTAL M&I 15.5 1.6 785,000TOTAL INF 7.8 1.7 420,00012
  13. 13. MINERAL RESOURCES contained million tonnes grade g/t ounces goldTOUQUOYTotal 11.7 1.5 557,000TOUQUOY WESTTotal 1.5 2.0 99,000COCHRANE HILLTotal 10.1 1.7 549,000TOTAL ALL 23.3 1.6 1,205,000 13
  14. 14. MINERAL RESERVES contained million tonnes grade g/t ounces goldTOUQUOYProved 2.49 1.48 118,000Probable 7.10 1.47 336,000TOTAL 9.59 1.48 454,000 14
  15. 15. TOUQUOY 15
  16. 16. Touquoy gold resource and geology 16
  17. 17. Touquoy geology and drillhole locations 17
  18. 18. Touquoy deposit section 21625mE 18
  19. 19. Touquoy Gold Project NQ DIAMOND CORE – HOLE MR-05-084 121–122 m : 2.16 g/t 122–123 m : 9.23 g/t 123–124 m : 8.98 g/t Argillite host rock with no quartz veins 19
  20. 20. 20
  21. 21. Touquoy Gold ProjectPhotomicrographs of gold grains in MR-05-084 core at 122-123 mField of view 1 mm. Light grey = arsenopyrite, dark grey = silicates 21
  22. 22. TOUQUOY’S ADVANTAGESLow strip ratio – 2.5:1Soft ore – BWI ~ 10Excellent metallurgy – 93.5% (70% gravity)Coarse grind - 150µmLow reagent consumption – 0.4kg/t CNExcellent CN detoxNo acid rock drainage – carbonate, low sulphideGrid power – coal-fired – 5km to connectExcellent infrastructureKeen local and homecoming workforceNo on-site accommodation requiredSupportive government 22
  23. 23. 23
  24. 24. TOUQUOY SUMMARY FINANCIALSOre reserves 9.59Mt @ 1.48g/tProduction 422,000 ozMine life 5.0 yearsAve annual production 84,000 oz paThroughput 2.0mtpaInitial capex $140 millionGold price US$1700/ozCash operating costs US$597/ozNet cash surplus (pre-tax) US$337 millionPayback period 18 mos after 1st goldProject NPV (8%, pre-tax) $206 millionProject IRR 52.5% 24
  25. 25. 25
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  28. 28. Touquoy Gold Project STEPS TO PRODUCTION ENVIRONMENTAL ASSESSMENT APPROVAL  FEASIBILITY STUDY COMPLETED  MINERAL LEASE GRANTED  ACQUIRE REMAINING SURFACE TITLES  in progress FINAL PERMITTING  Industrial Approval – documentation done PROJECT FINANCING 28
  29. 29. COCHRANE HILL 29
  30. 30. 30
  31. 31. 31
  32. 32. 32
  33. 33. MINERAL RESOURCES contained million tonnes grade g/t ounces goldCOCHRANE HILLIndicated 4.5 1.8 251,000Inferred 5.6 1.6 298,000Total 10.1 1.7 549,000 33
  34. 34. 34
  35. 35. 35
  36. 36. 36Cross section 3200E
  37. 37. 37
  38. 38. CONCEPTUAL FINANCIALS TOUQUOY + COCHRANE HILLThroughput 19.0Mt @ 1.6g/t for 970koz containedTotal production 900,000 ouncesAve annual production 93,000 ouncePlant 2.0Mtpa relocated to CH after TouquoyMine life 9.7 yearsPre-production capex $140 millionTotal LOM capex $254 millionGold price $1,700 per ounceCash operating cost $646 per ounceNet cash surplus (pre-tax) $721 millionPayback period 18 months after first gold pourNPV (8%, pre-tax) $371 millionInternal rate of return 53% 38
  39. 39. REGIONAL EXPLORATION 39
  40. 40. 40
  41. 41. 41
  42. 42. 42
  43. 43. 43
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  48. 48. MAJOR SEDIMENT-HOSTED GOLD DEPOSITS Deposit Location Au (t) Grade (g/t) AgeMeguma Appalachians 120 1.5 Cambro-OrdJuneau US Cordillera 281 1.4 JurassicMacreas Flat NZ 251 1.2 JurassicNatalka Russia 716 4.2 PermianNezhdaninskoye Russia 311 5.4 PermianBakyrichik Tien Shan 361 6.8 CarboniferousCarlin Nevada 3000 0.9-19 Siluro-DevZarmitan Tien Shan 470 9.5 SilurianMuruntau Tien Shan 5290 3.7 Ord-SilurianAmantaitau Tien Shan 288 3.7 Ord-SilurianBendigo Victoria 533 12.9 Cambro-OrdGetchell Nevada 800 3.0 Cambro-OrdSukhoi Log Siberia 1920 2.8 ProterozoicKumtor Tien Shan 284 4.4 ProterozoicTelfer WA 1564 1.5 ProterozoicBrasilia Brazil 313 0.4 Proterozoic 48
  49. 49. LOOKING AHEADAT TOUQUOY:• Acquire remaining surface titles - Q2/12 (?)• Grant of Industrial Approval – Q2/12• Secure project financing - Q3/12• First gold pour – mid 2014AT COCHRANE HILL:Complete drill-out, commence Feasibility StudyELSEWHERE MEGUMA:Continue regional exploration 49
  50. 50. ATLANTIC GOLD NL THE COMPANY 50
  51. 51. CAPITAL STRUCTUREFully paid shares 530.0MPartly paid shares (20 cents paid to 9 cents) 30.3MOptions unlisted (15.5 cents, 18 months) 2.0MMarket Cap @ 4.0 cents/share: $21.0 million 51
  52. 52. PIPELINE OF GOLD PRODUCTION IN NOVA SCOTIA…applying Australian expertise to anoverlooked Canadian gold province… ASX:ATV www.atlanticgold.com.au March 2012 52
  53. 53. Tony Tascone Corporate Advisor Pareto CapitalConnecting investors to opportunities www.symposium.net.au
  54. 54. An Introduction to our Investment AdvisoryGroup
  55. 55. About Pareto Capital Pareto is a Perth based investment advisory group offering capital raising and corporate advisory services to resource based mining and industrial companies, as well as full service broking services to retail and wholesale clients. Pareto is a privately owned enterprise that has created strong alliances within the investment community. Our aim is to create long term investor and shareholder value. Pareto’s services include the sourcing of capital for Companies and the creation of investment opportunities for professional investors. Pareto assists with Venture Capital, IPOs and Placements, corporate advisory and consultancy services. Pareto was established in 2010 and has since recapitalised a number of publicly listed entities and completed private equity syndications as well as the sale of privately owned enterprises. Pareto has a philosophy of investing alongside its clients through the principals, taking a significant stake in deals offered via both personal holdings and our wholesale investment company.
  56. 56. Services – Full ServiceBrokingAt Pareto, we have a team of experienced investment advisers ready to work with you to achieve your financial goals.We are a Full Service Investment Advisory Group with a focus on long term relationships with our clients. Whether youchoose to use an adviser to assist in managing your portfolio or elect to do so yourself, you will have access to: Domestic share trading Access to Initial Public Offerings (IPOs) and Placements Listed managed investments Portfolio construction for Self-Managed Super Funds Cash management services Online access to your portfolio Our Daily Market Review Quarterly Performance ReportsMany of our new clients are referrals which we attribute to our success in combining our access to Initial Public Offerings(IPOs) and Private Placements for clients with a traditional portfolio service based on trust and communication.
  57. 57. Services – CorporatePareto works closely with listed companies to assist in many of the Equity Capital Markets transactions and optionsavailable to provide capital and as a means of improving the quality of an existing company’s share register throughpromotion and marketing to professional and institutional clients.At Pareto, we initially raise funds for early stage projects via our extensive network of sophisticated and wholesaleinvestors. Our team’s ongoing commitment to services through our corporate advisory role then introduces clients tolarge scale brokers and institutional investors through a series of investor roadshows throughout Australia, Asia, Europeand the U.S.Our team has built outstanding institutional and broker networks in Australia and overseas. We have assisted numerousASX listed companies in expanding their networks and shareholder base via presentations with key investment analysts,institutions and investment groups.Pareto has had a successful history of identifying, financing and vending resource projects internationally via the “IPO”process or the introduction to a suitable listed vehicle (“Shell”).Pareto has established networks with experts and consultants to assist in this process to ensure that your specificbusiness and requirements are met during this critical stage in any corporate growth strategy.
  58. 58. Services – RoadshowsPareto specialises in organising all meetings and introductions in the region your company desires, generally targetingthe investment communities in Hong Kong, Singapore, New York, London, Melbourne and Sydney. Our team is able totailor a roadshow to meet investors that are sector-specific to your company, and most importantly - we can ensure thatour itinerary fits your available time frames.Standard roadshows usually require a minimum time allocation of 3 days if conducted in Australia and 4 days if targetingoverseas groups (this provides sufficient time for meetings and travel requirements).Roadshows are highly effective ways of raising capital and further promoting your company to new and qualifiedprofessional investors. We take the work out of organising this important function and companies can easily leveragefrom our established relationships and contacts throughout the global investment community by outsourcing this role toour team.Our services include: Australian Broker introductions and presentations Institutional Investor Presentations and Roadshows (Australia and overseas) Relationship management with shareholders and stakeholders (Top 20 shareholder management and analysis) Marketing / Investor Relations strategy creation and implementation On-going corporate advice and support to assist in promotional and fundraising requirements in the medium term.
  59. 59. Recent Transactions AUD$1.5M AUD$3.4M AUD$6.0M Trade Sale of Rights Issue Initial Public Offering Universal Pumps Business Corporate Adviser Corporate Adviser Lead Manager Pareto Capital Pty Ltd Pareto Capital Pty Ltd Pareto Capital Pty Ltd December 2011 December 2011 June/July 2011 AUD$2.45M AUD$10M AUD$1.65M AUD$1.2M Share Placement Share Placement Share Placement Share PlacementJoint Manager and Corporate Adviser Lead Manager and Corporate Adviser Lead Manager and Corporate Adviser Lead Manager and Corporate Adviser Pareto Capital Pty Ltd Pareto Capital Pty Ltd Pareto Capital Pty Ltd Pareto Capital Pty Ltd May 2011 April 2011 April 2011 March 2011
  60. 60. Frequently Asked Questions – ADG Global Supply CaseStudy Can Pareto raise up to $10million? Working closely with ADG, Pareto will raise sufficient capital as required, $10m was raised in various stages . – See Appendix A attached How well established is Pareto on the East Coast? We have strong institutional and broker relationships on the east coast. Pareto completed 6 roadshows on the east coast in 2011 Our approach is to partner with a broker(s) with local presence where required Most recent example of how effectively this strategy of partnering with brokers works was with ADG and Investor First. By partnering we introduced 8 institutional investors for a $2.45m placement. In addition the broker initiated coverage and ongoing research How often will we need to roadshow in 2012? The need for capital required us to commence roadshowing immediately The process then becomes one of raising awareness and follow up communication to ensure liquidity is ongoing Pareto will maintain contact with all groups post roadshow to secure potential investment in the company
  61. 61. Appendix A: ADG Global Supply - $9.75m RaisedDecember 2011 - $1.5m Trade Sale of Universal Pumps BusinessCorporate adviser to the sale of the Universal Pumps business held within ADG. Pareto assisted with preparationof the information memorandum and the marketing and structuring the transaction.May 2011 - $2.45m Share PlacementJoint manager and corporate adviser to raise funds to increase working capital for an expansion into Europe as abase for its African operations (placement completed exclusively to east coast institutions).November 2010 – $3.6m Share Placement and Underwritten Rights IssueManager and corporate adviser of a $1m strategic placement to introduce a cornerstone investor post anorganised introduction to the group. In addition undertaking a $2.6m 1 for 3 entitlement issue (with shortfall of$1.9m to several external groups).December 2009 - $2.2m Share Placement and Rights IssueManager and corporate adviser of a $0.85m strategic placement to work towards reducing bank debt. Alsocompleted a $1.35m 1 for 5 rights issue (with shortfall of $0.76m placed to several external groups).
  62. 62. Pareto Capital Partners Davide Bosio (B.Comm FFin GAICD) Managing Director Davide is the Managing Director of Pareto Capital and specialises in offering professional customised fundraising solutions to corporate clients and investment services to professional investors. Davide has over 10 years experience in the finance industry as an Investment Advisor providing financial product advice and dealing to wholesale and retail clients. Davide is currently a Fellow Member of the Financial Services Institute of Australia (Finsia) and a Graduate Member of Australian Institute of Company Directors (GAICD). Davide holds a Bachelor of Commerce (Marketing) degree and a Graduate Diploma in applied Finance and Investment. Dino DiCosta (CA) Director Dino is a Director of Pareto Capital and specialises in providing Corporate Advisory services in both the complex debt markets and global equity markets. Prior to joining Pareto Capital, Dino spent 10 years as a Director of Credit Suisses Structured Product Debt Syndication and Trading team based in London. Dinos principal role was in Debt Capital Raisings for some of the largest financial institutions globally. Dino has holds a Bachelor of Commerce (Acc and Bus Law) and is a member of The Institute of Chartered Accountants (Australia). He is also the treasurer of The Strike a Chord for Cancer Foundation.
  63. 63. Pareto Capital DetailsPareto Capital Pty LimitedABN 43 131 858 681 AFSL 389 395 D: +61 (8) 6489 0800338 Hay Street, Subiaco, Western Australia, 6008 F: +61 (8) 9380 9389www.paretocapital.com.au E: info@paretocapital.com.auDavide Bosio Dino Di Costa Anthony TasconeManaging Director Director Corporate AdvisoryD: +61 (8) 6489 0888 D: +61 (8) 6489 0808 D: +61 (8) 6489 0880M: +61 (0) 414 433 771 M: +61 (0) 407 450 639 M: +61 (0) 419 870 363E: dbosio@paretocapital.com.au E: dicosta@paretocapital.com.au E: rcotton@paretocapital.com.auChad South Jason RobertsInvestment adviser Investment AdviserD: +61 (8) 6489 0833 D: +61 (8) 6489 0801M: +61 (0) 404 307 554 M: +61 (0) 409 296 276E: jpullin@paretocapital.com.au E: jroberts@paretocapital.com.au
  64. 64. John “Gus” Simpson Executive Chairman Peninsula Energy LimitedConnecting investors to opportunities www.symposium.net.au
  65. 65. 21-Mar-12 65
  66. 66. DisclaimerThis presentation is provided on the basis that the Company nor its representatives make any warranty (express orimplied) as to the accuracy, reliability, relevance or completeness of the material contained in the Presentation andnothing contained in the Presentation is, or may be relied upon as, a promise, representation or warranty, whether as tothe past or the future. The Company hereby excludes all warranties that can be excluded by law. The Presentationcontains material which is predictive in nature and may be affected by inaccurate assumptions or by known andunknown risks and uncertainties, and may differ materially from results ultimately achieved.The Presentation contains “forward-looking statements”. All statements other than those of historical facts included inthe Presentation are forward-looking statements including estimates of resources. However, forward-looking statementsare subject to risks, uncertainties and other factors, which could cause actual results to differ materially from futureresults expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to,gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade orrecovery rates from those assumed in mining plans, as well as political and operational risks and governmentalregulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions toany “forward-looking statement” to reflect events or circumstances after the date of the Presentation, or to reflect theoccurrence of unanticipated events, except as may be required under applicable securities laws. All persons shouldconsider seeking appropriate professional advice in reviewing the Presentation and all other information with respect tothe Company and evaluating the business, financial performance and operations of the Company. Neither the provisionof the Presentation nor any information contained in the Presentation or subsequently communicated to any person inconnection with the Presentation is, or should be taken as, constituting the giving of investment advice to any person.Presentation does not relate to any securities which will be registered under the United States Securities Act of 1933 norany securities which may be offered or sold in the United States or to a US person unless registered under the UnitedStates Securities Act of 1933 or in a transaction exempt from registration.The Exploration and Target Potential described in this presentation is conceptual in nature, and there is insufficientinformation to establish whether further exploration will result in the determination of a Mineral Resource 66
  67. 67. Existing Uranium DemandDrivers• 434 operating nuclear power stations (Feb 2012) operated by 31 countries• 240 research and medical isotope reactors• 140 nuclear powered ships• Consuming 200mlbs uranium p.a.• One ton of natural uranium produces more than 40 million kilowatt- hours of electricity• This is equivalent to burning 16,000 tons of coal or 80,000 barrels of oil• Electricity generation costs • Gas and coal costs 5.0c per Kwh • Nuclear costs 0.7c per Kwh source: CNN interview CEO Southern Company Feb 201221-Mar-12 67
  68. 68. Future Uranium Demand Reactor Units and Market Demand Forecasts by Region 2010 U308 2015 U308 2020 U308 2025 U308 2030 U308 Reactor Demand Reactor Demand Reactor Demand Reactor Demand Reactor Demand Region Units mlbs/pa Units mlbs/pa Units mlbs/pa Units mlbs/pa Units mlbs/pa North America 124 52 125 54 126 59 125 59 128 60 Western 129 54 118 55 117 58 103 53 97 52 Europe Japan 54 23 49 24 49 26 48 25 43 22 Eastern Europe 67 29 76 33 84 38 93 40 100 44 Asia & Oceania 61 23 101 44 144 67 181 85 221 108 Africa & Middle 2 1 3 1 8 5 15 10 22 12 East South America 4 2 6 3 6 3 8 4 11 7 TOTALS 441 183.9 478 213.1 534 254.5 573 276 622 292.8 •61 NPP are in construction • 156 are in the approval stage Demand in Eastern Europe, China and India will increase X 300% •China, India and Eastern Europe will increase U consumption by 250% by 2030 68Source : UxConsulting Q4 2011
  69. 69. China, India & EasternEurope Nuclear Build Out PlanThe industrialisation/urbanisation of China, India and Eastern Europe requires lowcost power generationAs this scales up it is increasingly about low emissions powerAnd for the 21st Century that’s about nuclear power. 69
  70. 70. Uranium Supply• Kazakhstan ISL U3O8 Production Growth: 2000, 5mlbs 2008, 18mlbs 2009, 36mlbs 2011, 44mlbs• Megatons to Megawatts program: Uranium recovery from nuclear weapons – US utilities - end of 2013 24mlbs• Fukushima more likely to impact supply rather than demand (000 lbs) (000 lbs) Global Uranium Supply / Demand 90,000 lbs) (000 (000 lbs) 350,000 300,000 60,000 90,000 350,000 300,000250,000 30,000 60,000 250,000200,000 30,000 0 200,000150,000 0 (30,000) 150,000100,000 (30,000) (60,000) 100,000 50,000 Supply Deficit (60,000) Supply Deficit 50,000 (90,000) 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (90,000) 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Net Balance (LHS) Net Balance (LHS) World Supply (RHS) World Supply (RHS) World Requirements (RHS)(RHS) World Requirements 70 Source: : RBC Uranium Market Outlook June 2011
  71. 71. Long Term Uranium Price $150 © UxC $135 Long-Term vs Spot Composite Scenario $120 Historical Spot Ux U3O8 Price $105 $90 Historical Ux Long-Term U3O8 Price $75 $60 $45 $30 $15 $0 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 21 23 25Composite Uranium Price Projection, UxC 71
  72. 72. Corporate Share Price 5000 0.14Shares on issue 2,136m 4800 0.12Share price 6.7cMarket capitalisation $143m 4600 0.1Cash balance $20m 4400 0.08Debt $0Enterprise value $123m 4200 0.06Equity Facility $100m 0.04 4200Shareholding 0.02 PEN – Daily Line Chart (Close)Directors & Associates ~ 20% XAO – Daily Line Chart (Close)Top 20 shareholders 28.72% PE Simple M(20) (Close) Avg Market Cap Options on Issue Number Strike ExpiryPeer Comparison EV/Resource A$ Multiple Listed options (PENOA) 402,847,569 3c 30-Jun-12Uranerz $6.53 $187m Listed options (PENOC) 467,354,574 3c 31-Dec-15UR Energy Inc $3.40 $121m Various prices Various dates from Unlisted options 24,000,000Peninsula Energy Limited $2.98 $143m between 4c – 12.5c Sept 2012 – Dec 2015 Performance Shares 18,500,000 Class C 30-Jun-14 72
  73. 73. Directors and ManagementBoard of Directors• Executive Chairman Gus Simpson Strong leadership, corporate and project management skills• Executive Director - Operations Malcolm James Strong corporate project mgmt and financing experience• Technical Director Alf Gillman Highly experienced uranium geologist• Director Warwick Grigor Experienced mining analyst and corporate director• Director Mike Barton Charted Accountant with strong background in resources & financeExecutive Management• Executive Chairman Gus Simpson Strong leadership, corporate and project management skills• Executive Director - Operations Malcolm James Strong corporate project mgmt. and financing experience• Technical Director Alf Gillman Highly experienced uranium geologist• Project Manager Al Berglund ISR mining engineer, 35 yrs+ experience• Company Secretary Jonathan Whyte Chartered Accountant and experienced Company SecretaryWyoming Project Team• ISR Mining Expert Al Berglund ISR mining and extraction engineer, 35 yrs+ experience• Exploration Manager Wyoming Jim Guilinger Highly experienced uranium geologist• Hydrological Engineers Petrotek Engineering Corporation• Mine Permitting Engineers WWC Engineering Experienced ISR permitting engineers• ISR Process Design Engineers Lyntek Inc Denver based process design engineers• Definitive Feasibility Study Lyntek Inc. Denver based process design engineersKaroo Project Team• Exploration Manager Henri Lombard Experienced exploration manager• Project Manager John Simpson Open pit and underground mining consultant 73
  74. 74. Business Plan –10mlbs per annum before 2025• To commence ISR production at Lance Projects, Wyoming in 2012/13* building to 2.2mlbs U3O8 p.a. over 3 years (Plant capacity 3mlbs p.a.)• Continue to develop the mineral potential at: – Wyoming 95-145mlbs U3O8 – Karoo 90-150mlbs U3O8 Underpin balance sheet with profit from Wyoming• Develop conventional mining and milling operation at Karoo Projects, RSA by 2016/17 building to 3mlbs U3O8 p.a. over 3 years• Look at near production acquisition opportunities in areas of existing operations to expand production at both CPP’s• Long term goal to be a 10mlbs per annum uranium producer before 2025 * Subject to regulatory approval 74
  75. 75. Lance Projects-Location & Wyoming UraniumCurrently Licenced Christensen-Irigaray Sweetwater Lance Project Smith Ranch-Highland Lost Creek In Permitting Ross Hank & Nichols Jab & Antelope Moore Ranch 75
  76. 76. Lance Projects – Development Model • 41.4mlbs U3O8 JORC compliant resource Tonnes Ore U3O8 U3O8 Grade Resource Classification (M) kg (M) lbs (M) (ppm U3O8) Measured 3.6 1.7 3.7 479 Indicated 7.8 3.0 7.5 433 Total M+I 11.5 4.7 11.2 448 Inferred 33.1 13.7 30.2 414 Total 44.5 18.4 41.4 422 • To build a 2.18mlbs per year ISR operation inclusive of: – Ion exchange facility ,centralised resin stripping ,drying and packaging plant at Ross (CPP) – Remote ion exchange facility at Barber trucking resin to CPPCentral Processing Plant: Ion Exchange Vessels (left), Elution circuit (right) • Commence production in 2012/13: Capex. – Phase 1 - 750klbs p.a. Ross production unit $63M – Phase 2 – 750klbs p.a. Kendrick production unit $21M – Phase 3 – 750klbs p.a. Barber production unit $60M – Production expansion target of 3mlbs per year by 2017 • Continue to delineate 95-145mlbs of uranium mineralisation through: – Exploration within the other 11 project areas – Exploration in the areas between the 13 projects • Acquisition of other projects 76Central Processing Plant: Reverse Osmosis System, Brine Tanks (rear)
  77. 77. Lance Projects-DFS Expanded Economic Study US$ per lb US$ / Year Steady State ProductionRevenue (2011 base escalated at 2.6%) $62.58 $164 million AssumptionsOperating cash cost (C1) $11.93 $26 million ISR mining with centralised plantRoyalties & Tax $10.80 $24 million • 2.188mlbs p.a. U3O8Total Operating Cash Cost $22.73 $50 million • Uranium grade 422ppm • Estimated recovery 76%Ongoing Well Field Capital $8.82 $19 million • Initial Project Cap. Ex.$63mDepreciation & Amort (average) $6.71 $15 million Phase 2 (1.50mlbs pa)$21mTotal Production cost $38.26 $84 million Phase 3 (2.19mlbs pa)$60m • Recovered resource 17.2mlbs U3O8EBITDA $95 million • Debt to Equity 60:40Tax (average) $14 million • US$76m decommissioningNet Profit after tax (excl. depletion) $66 million and restoration included inFree cash flow $76 million C1 costs • NPV Assumptions •NPV (before tax) $207 million • Interest rate 8% Real discount rate 6% 77
  78. 78. Market Valuation Analysis - Uranium ProducersMarket Cap Per Pound of Production: Annual Jan 31, 2012 Pre Fukushima Production 2011 Market Cap Market Cap Company (approx. U3O8 lbs) (US$millions) (US$millions) Cameco 21,700,000 9,147 14,324 Paladin 5,700,000 1,608 3,677 Uranium One 10,500,000 2,501 5,704 ERA 5,800,000 846 1,186Indicative Value as a function of Production: Production U3O8 $275 per pound $600 per pound (lbs p.a.) of production of production Market Cap U3O8 2,180,000 $600,000,000 $1,300,000,000 production levels 6,000,000 $1,650,000,000 $3,600,000,000 10,000,000 $2,750,000,000 $6,000,000,000 78
  79. 79. Lance Projects –Exploration Potential
  80. 80. Resource Growth-Trend 1,106 No. PEN holes 45000000 Inferred 4,738 No. NuBeth holes 40000000 Indicated Measured 805 4,738 35000000 30000000 600 4,738 30,178,789 25000000 lbs U3O8 281 22,454,321 20000000 4,738 15,955,169 15000000 10000000 11,130,000 6,681,340 7,500,039 5,587,760 5000000 3,960,000 3,644,099 3,813,347 3,835,486 0 PEN, March 2010 PEN, July 2010 PEN, January 2011 PEN, July 2011 80
  81. 81. Drilling Post June 2011Resource UpgradeHole ID Easting Northing Total Intercept ft over From (ft) GT Peak Depth (ft) PFN U3O8 grade Concentration ppm GradeRMR1730 501106 4934667 920 15.5@1530ppm 830.75 2.37 4@5160ppmRMR1531 500813 4935919 880 21@830ppm 714.75 1.74 11.5 @1150ppmRMR1415 501663 4936683 840 39@436ppm 651 1.70 9.5 @ 890 ppmRMR1729 500766 4934567 1000 31@485ppm 845.25 1.50 5.5@1620ppmRMR1610 500838 4935590 860 26.5@390ppm 716.25 1.03 6.5 @ 540 ppmRMRD0024 501664 4936683 710 638.75 0.99RMR1339 503403 4938305 600 23.5@390ppm 431.75 0.92 2.5@1110ppmRMR1694 501195 4934540 940 4@1965ppm 800.25 0.79 2.5@2990ppmRMR1595 500745 4935782 860 20.5@371ppm 711.75 0.76 2.5@1750ppmRMR1270 501784 4944022 460 5.5@1080ppm 253.25 0.60 3@1780ppm Top 10 average 1.24GTRMR1431 501672 4936775 840 7@820ppm 680.25 0.57 6 @ 940 ppmRMR1660 500616 4934259 1000 7.5@730ppm 848.25 0.55 3@1140ppmRMR1325 503847 4939968 580 7.5@650ppm 423.75 0.49 2.5 @ 1120ppmRMR1568 500787 4935796 840 10.5@460ppm 703.25 0.48 2@1000ppmRMR1265 503811 4939486 640 7.5@590ppm 565.25 0.44 4@930ppmRMR1273 503797 4939658 600 7@630ppm 498.25 0.44 4@910ppmRMR1501 500983 4936617 960 11@390ppm 865.25 0.43 3.5@730ppmRMR1290 502470 4943747 700 15.5@270ppm 105.75 0.42 2.5@590ppmRMRD0022 501784 4944020 280 254.75 0.42RMR1514 500794 4935918 880 17@240ppm 714.25 0.41 2.5@320ppm Top 20 average 0.85GT 81
  82. 82. Lance Projects –Strategic Partner & Uranium Sales• First sale contract USA utility: Feb 2011 WAP $75.60 per lb, 7 year contract – first delivery 2013 & 5.5% planned production• Boswell Capital: May 2011 Specialist uranium advisory group, ongoing role evaluating juniors for utilities and completed DD on PEN• Negotiations advancing with utilities and trading houses 50% to Strategic partner with investment in PEN 30% with 3-4 utilities 20% to spot sales 82
  83. 83. Lance Projects – PermittingMine permitting on scheduleDeep Disposal Wells • DDW feasibility study completed • Licence application lodged • Licence granted 30 March 2011 • Aquifer is deemed exemptNRC Source Material Licence • Technical reports completed • Environmental reports completed • Licence application acceptance • Enviro & Tech review ongoing • BLM acknowledged NRC leadWDEQ Permit to Mine • Technical reports completed • Environmental reports completed • Licence applic. accepted • Enviro & Tech review completed • Grant on Bonding & CPP site purchase • Air Quality Permit grantedWWC Engineering Services fast tracking the review and issue period for the required permits by: • Implementing continuous process of review and discussion with all stakeholders • Regular meetings with the NRC, EPA ,WDEQ and BLM to discuss the progress • Lodgement of composite application with all regulatory agencies 83
  84. 84. Lance Projects –Proposed Development Schedule 2009 2010 2011 2012 2013 Permitting (subject to regulatory approval) Resource Definition Scoping Study/ PFS / DFS/EES Project Financing Construction, Commissioning, Production Expanded Resource Drilling 84
  85. 85. Business Plan –10mlbs per annum before 2025• To commence ISR production at Lance Projects, Wyoming in 2012/13* building to 2.2mlbs U3O8 p.a. over 3 years (Plant capacity 3mlbs p.a.)• Continue to develop the mineral potential at: – Wyoming 95-145mlbs U3O8 – Karoo 90-150mlbs U3O8 Underpin balance sheet with profit from Wyoming• Develop conventional mining and milling operation at Karoo Projects, RSA by 2016/17 building to 3mlbs U3O8 p.a. over 3 years• Look at near production acquisition opportunities in areas of existing operations to expand production at both CPP’s• Long term goal to be a 10mlbs per annum uranium producer before 2025 * Subject to regulatory approval 85
  86. 86. Karoo Projects – Location21-Mar-12 86
  87. 87. Karoo Projects – RegionalGeology21-Mar-12 Poortjie Teekloof Member Formation Moordenaars/ Loxton Members Abrahamskraal Davidskolk Formation Member Stratigraphic Column 87
  88. 88. Karoo Projects – Mineral Potential Exploration Tonnes Grade U3O8 Potential (m) (ppm U3O8) (mlbs) Range From To From To From To Total 36 60 1,200 1,400 90 150 Historic Tonnes Grade Total Mineralisation (ppm eU3O8 ) (eU3O8 mllbs) Site 22 860,000 1,480 2.8 Site 45 2,786,000 700 4.3 Site 29 246,000 1,107 0.6 Total 3,892,000 1,015 7.7 88
  89. 89. Site 29 Uranium Potential • 108km2 of Prospective Poortjie Sandstone • 308 holes drilled by Union Carbide B • Drill-defined 600,000 lbs U3O8 at 1,107 ppm A A • 214 RC twin and exploration holes completed in 2011 • 167 historic holes drilled re-probed • Drilling confirmed high grade U3O80 1.25 2.5 5 Kilometers • >5-8mlbs U3O8 potential • Numerous un-tested uranium occurrences and channel systems 89
  90. 90. Site 29 Cross Section A B Diagrammatic composite section 181 intercepts >200ppm, 70 >1,000ppm 90
  91. 91. Site 22 Uranium Potential2.8mlbs U3O8 at 1,480ppm • GT7 prospect 2.8mlbs drill-defined eU3O8 • 707 historic percussion holes drilled by JCI • 118 RC holes and 4 diamond holes in 2011 • 160 historic holes drilled re-probed • Stacked uranium bearing channels • >15mlbs U3O8 potential • Amenable to open-pit mining • Numerous un-tested U3O8 occurrences 91
  92. 92. Site 22 Core Hole Cross Section 86 intercepts >1,000ppm, 272 intercepts >200ppm 92
  93. 93. Site 45 Uranium Potential 25km • 4.3mlbs drill-defined eU3O8 • 400 historic drilled by JCI • 340 km2 prospective Davidskolk formation • 16 historic holes probed in 2011 • Stacked uranium bearing channels • Potential 15mlbs U3O8 • Numerous un-tested U3O8 occurrences21-Mar-12 93
  94. 94. Karoo Projects – Project Schedule 2010 2011 2012 2013 2014 2015 2016 2017Resource Definition (JORCconversion)Internal Conceptual StudyExt. Scoping Study PFS/BFSConstructionCommissioning ProductionExpanded Resource Drilling 94
  95. 95. Karoo Projects – Development Model• Multiple open-pits; with central processing facility at Site 29• All sites within road-hauling distance• Planning production in 2016/2017• Continue to delineate > 120mlbs of uranium mineralisationProcess flow sheet 95
  96. 96. Karoo Projects – Conceptual Study US$ per lb US$ / Year AssumptionsRevenue $65-75 $191 millionCapex Amortisation $3.4 $11.6 million • Open-pit mining withFinancing cost $1.0 $3.3 million conventional millingOperating Costs $28.5 $76.1 million • Central processingRoyalty (3%) $2.0 $5.1 million facility at BeaufortTotal Costs $34.9 $96 million West near Site 29Molybdenum Credit $5.2 $15 million • 30mlb U3O8Depreciation $14 million • 3mlbs pa productionGross Margin $110 million • Estimated recoveryTax $29 million 90%Net $81 million • Estimated capital costNPV $211 million US$197 millionAssumptions30% tax, Interest Rate 8%, Real Discount Rate 10%,60:40 Debt to Equity Ratio Figures are indicative only and developed for internal project21-Mar-12 evaluation purposes 96
  97. 97. Nationalisation Debate - NO• President Jacob Zuma on Friday squashed more than two years of talk about the nationalisation of South Africa’s mining sector, saying state control or ownership of the mines could not work.• Asked during a televised breakfast briefing if the government planned to nationalise mines, Zuma said emphatically: “We’re very clear. It is not our policy. We’ve been saying this inside the country, outside the country. It cannot be. “We have answered this question many times. We are very clear,” he added. “Our policy is a mixed economy.”• Coming at the end of a week in which two senior ministers dismissed nationalisation as unviable and the ANC released a study describing it as an “unmitigated disaster”, Zuma’s comments lay to rest two years of debate that hit South Africa’s image as an investor-friendly emerging market.• However, Malema’s suspension from the party at the end of last year and the growing ranks of declared and heavyweight opponents of nationalisation mean the idea is not going anywhere.• “You cannot ask for greater clarity,” said political consultant Nic Borain. “If you look at the words the document uses, and you take what Zuma said (on Friday), I think we can put this issue to bed.• “Read altogether, this is the ANC very clearly saying ‘Our task as government is to get the most out of these resources.’ Nationalisation would be a catastrophe.”21-Mar-12 97
  98. 98. Investment Highlights• Emerging uranium producer listed on the (ASX:PEN) with established project pipeline• DFS expanded profit projections $66 million pre-tax per annum• 42mlbs JORC Compliant Resource and growing• Targeting 2.2mlbs U3O8 pa from Wyoming 2012 /13• Targeting Karoo production 2016/2017• Exploration potential 185–295mlbs U3O8 Wyoming and Karoo• Low CAPEX (Wyoming) – initial development expenditure US$63M• Strong supply / demand fundamentals for uranium 98
  99. 99. Targeted Milestones• April 2010: Initial JORC compliant resource at Lance • May 2010: Pre-feasibility study completed • July 2010: Revised JORC compliant resource • Dec 2010: Submit final licence applications • Jan 2011: 2nd revised JORC compliant resource • Feb 2011: Uranium sales contract • Mar 2011: Karoo drilling results • April 2011 DDW Licence granted • July 2011: 3rd revised JORC compliant resource • Dec 2011: Definitive Feasibility Study completed • Mar 2012: Decision to mine• Mar 2012: 4th revised JORC compliant resource• May 2012: Permit to Mine• June 2012: Initial Karoo resource estimate• June 2012: Strategic Partner• June 2012: Project Funding• TBN Project Construction• TBN NRC Source Material Licence• TBN Yellowcake production target 99
  100. 100. Andrew Haythorpe Managing Director & Chairman Liberty ResourcesConnecting investors to opportunities www.symposium.net.au
  101. 101. low cost fertilizerASX: LBY
  102. 102. Competent Person Statement DisclaimerThe information in the report to which this statement is attached relates This presentation contains statistical data, market research and industryto Exploration Results, Mineral Resources or Ore Reserves compiled by forecasts that were obtained from government or other industry publicationsMr D. J. Holden, who is a Member of The Australian Institute of Mining and reports or based on estimates derived from such publications and reportsand Metallurgy, with over 20 years experience in the mining and and managements knowledge of, and experience in, the markets in whichresource exploration industry. Mr Holden has had previous relevant Liberty operates. Government and industry publications and reports generallyexperience and qualifies as a Competent Person as defined in the indicate that they have obtained their information from sources believed to be“Australasian Code for Reporting of Exploration Results, Mineral reliable, but do not guarantee the accuracy and completeness of theirResources and Ore reserves”. Mr Holden consents to the inclusion in the information. Actual outcomes may vary materially from those forecast in suchreport of the matters based on his information in the form and context reports or publications, and the prospect for material variation can be expectedin which it appears. to increase as the length of the forecast period increases. While management believes this data to be reliable, market and industry data is subject to variationsClaus Wohlert is a mechanical engineer with a Bachelor of Engineering and cannot be verified due to limits on the availability and reliability of data(1st Class Hons) from the University of Canterbury, Doctor of Philosophy inputs, the voluntary nature of the data gathering process and other limitationsfrom the University of Canterbury. Mr Wohlert has over 30 years local and uncertainties inherent in any statistical survey. Accordingly, the accuracy,and international experience in the oil and gas industry. His work currency and completeness of this information cannot be guaranteed. Theexperience covers major oil companies and consulting firms, all phases of Corporation has not independently verified any of the data from third partythe oil and gas industry, including design engineering, construction, sources referred to in this presentation or ascertained the underlyingcommissioning, and maintenance and a full range of rotating and static assumptions relied upon by such sources.equipment. The images of production facilities contained in this document are not actual assets of the Company, but are representative of the proposed Urea Corp Fertiliser Project. libertyresources.com.au
  103. 103. Strategic Drivers – why it is happening  Global Population Growth  Australia’s a big Importer of Fertiliser  Gas & Coal prices rising  Lowest quartile cost producer  Proven Technology  Location Location Location
  104. 104. Low Cost Fertilizer ASX: LBY Share Price* $0.08 Shares on Issue 223mInvestor relations: Market Cap $ 17m Cash $2.0 mKarl Cahill+1 (858)531-6100 Other Assets $2.0 mkcahill@libertyresources.com.au Debt nilUSA LBY Management Largest Shareholders Dundee Corp *Share information as at Feb 2012 (www.asx.com.au)
  105. 105. The Liberty Team Management Team – Andrew Haythorpe - Managing Director – Steve McRae- CFO – Lance Harcourt - Projects Delivery Manager – Claus Wohlert-Jensen - Senior Mechanical Engineer – Erica Blumenthal – Geologist – Jake de Boer – Coal to Urea Project Manager (app March 2012) – Scott Cross – QLD Manager Board of Directors – Andrew Haythorpe, MD and Acting Chairman (former mining analyst and fund manager, company director and investor) – Michael Fry, NED (extensive experience in capital markets and commodity, currency and interest rate risk management) – James Becke, NED (ex founding Director of Macquarie Bank, 35 years experience in all facets of the Australian capital markets)
  106. 106. Management & Shareholders Aligned  LBY shares purchased by management  CEO Skin in the game – shares not gifted  Shareholders and management interests aligned  Tight Share Registry - and improving
  107. 107. Projects Delivery ManagerLance has been managing projects in the Offshore Oiland Gas Industry for 30 years. During this time, he hasgained extensive experience in the design, constructionand commissioning of oil and gas projects in Australiaand overseas.Lance was an Interface Manager and Area ProjectEngineer on Woodsides North Rankin B Project,Topsides Construction Manager for BHP, SiteConstruction Manager for Roc Oils Cliff Head AWellhead Platform, Project Engineer and Lead Architectfor the Fluor Amec JV, Lead Architect on PhillipsPetroleums Bayu Undan Project, Commercial Managerfor Bouygues Offshore and Project Engineer forMcDermott International.
  108. 108. General Manager (March 2012 )Jake has over 26 years in the Fertiliser and Coal Gasification industries and held Senior positionsin Perdaman Chemicals & Fertilisers, GHD Oil and Gas & Sasol Technology in South Africa.At Perdaman, he was responsible for technical and Project Finance requirements for the$3.5billion, 2mtpa Urea Collie Coal to Urea in Western Australia.Qualifications include; M Eng (Chemical), University of Pretoria; BCom, University of SouthAfrica, (cum laude Economics); BEng (Honours), University of Pretoria, BSc (ChemicalEngineering), University of Natal; Registration as Professional Engineer, SACPE; SAICHe (SAInstitute of Chemical Engineers) Secretary; Accredited with Australian Engineering Council.Patents developed at Sasol include; Process for synthesising hydrocarbons. AP Steynberg, JW DeBoer, H Nel, W Ernst, JJ Liebenberg: Sasol Technology, June 2007: US 20070142481 (2 citations),EP 1658354; Process for synthesising hydrocarbons. AP Steynberg, JW De Boer, H Nel, W Ernst,JJ Liebenberg: Sasol Technology: US 7432310, March 2005: WO 2005/019384; Fuel cells (JHFourie / JW De Boer, United States Patent H001849; Biodiesel blending (JW De Boer / MLamprecht, WO/2003/004588)).
  109. 109. Senior Mechanical EngineerClaus holds a PhD in mechanicalengineering (Robotics), with over 30years of international experience in theoil and gas industry. He started at ShellInternational Petroleum as ProjectEngineer and more recently - RotatingEquipment Specialist for Worley ParsonFluor Amec - Woodside Enfield Project,Tiga Joint Venture - Conoco Phillips BayuUndan Project and Carigali - PTTEPIOperating Company CPOC.
  110. 110. AdvisorJustyn joined Linc Energy in 2006, the largest UCG company in the world. Duringhis six years with Linc, he held the positions of General Manager Government andEnvironment Affairs, General Manager of Business Development, Executive GeneralManager Asia and Executive General Manager Investor Relations.He has extensive experience in the Environment, UCG and the development of agrowing UCG Company. He has served as Legal Counsel for the Department ofEnvironment and Heritage, a Director of Operations for the Qld EPA, EnvironmentAdvisor to the Queensland Mining Council, Head of Property and Environment forAirservices Australia.Qualifications include Graduate Diploma in Legal Practice, University of SouthAustralia, LLB(law) University of Adelaide in 1993 and a double BA (Politics) and aBA (Jurisprudence) University of Adelaide (double) in 1991.
  111. 111. Very low cost Fertilizer Sources: Integer Research Limited, Liberty Resources, Uhde Shedden estimates adjusted for ,minimum $7/GJ gas or gas equivalent input cost 2020.
  112. 112. Insitu Gasification Advantage Coal Bed Methane 60 PJs Longwall Coal Mining Insitu Gasification 800 PJs 1,300 PJs Source: G.Couch. IEA Clean Coal Centre. Progress with underground coal gasification. www.iea-coal.org.uk (Energy extraction for typical 12km2 deposit)
  113. 113. Coals advantage Barrels of Oil EquivalentOil sands 3 GJ/t Alberta (Canada)Coal 18-24 GJ/t QLDOil shale 6 GJ/t Julia Creek Shale (QLD) Source: Oil Shale & Tar Sands Programmatic EIS (http://ostseis.anl.gov/guide/tarsands/index.cfm) *Based on Raw oil sand contains 66% sand and 33% heavy bituminous oil ** Kerogen value for Julia Creek (Qld) is 18%. Kerogen is the sole energy component of oil shale and has an energy value of 35GJ/t. Assuming 65% conversion of kerogen to kerosene with an energy value of 43GJ/t.
  114. 114. LBY Leveraged to Global TrendsPopulation GrowthUrbanisation of emerging economiesDemand growth for ProteinLBY profit inelastic to Coal & Gas price (cost) increases
  115. 115. A new Germany per year 83 million new people – every year Current world population 7 billion. Annual births 140 million, deaths 57 million Source: "U.S. Census Bureau - World POPClock Projection". http://www.census.gov/ipc/www/popclockworld.html "World Population Clock — Worldometers" http://www.worldometers.info/population/International Data Base (IDB) — World Population" "World Population Prospects:The 2008 Revision” Population Division of the Department of Economic and Social Affairs of the United Nations Secretariat. http://www.un.org/esa/population/publications/popnews/Newsltr_87.pdf
  116. 116. Increasing demand for Fertilizer Global population growth Urbanization Less farm land Substantial Middle class growth – emerging markets
  117. 117. Fertilizer – Urbanization• ...Rising wealth• ...rising food consumption, “Over the past three• ...fertiliser required. decades, the proportion of the Chinese population living in urban centres has more than doubled to almost 45 per cent.” Presentation by Dr Philip Lowe, Assistant Governor of the RBA (Central Bank) to the ABS Natstats conference, Australia.
  118. 118. New Urea capacity required Production with consumption – the gap Source: Urea world market outlook and forecast, Merchant Research & Consulting Ltd 2010. And Liberty data
  119. 119. How we compare – China
  120. 120. How we compare - India
  121. 121. Australia depends on imported fertilizer  1.3mtpa Urea used in 2011  1.1mt imported  Ammonia imported to Urea and Explosive  Explosive (Ammonia Nitrate) shortages
  122. 122. Strategic location – farms and mines  Ports  Rail  Pipelines  People
  123. 123. No environmental concerns  State logging  No farms  No towns  No cropping
  124. 124. Coal – 1.4 billion tonnes*PROJECT INFERRED RESOURCE AVERAGE COAL QUALITYDENISON 1.4 billion t Mod Sulphur thermal coal CV of 6200 Kcal/kgGALILEE 338 million t Mod sulphur thermal coal CV of 5100 Kcal/kg (*) This resource forms part of the Westgrove Project area resource as announced by the Company on 21 September 2009
  125. 125. Existing Technology – directional drilling
  126. 126. UCG – Now commercial in QLD 10th February 2012 “ Carbon Energy Delivers Australian first in commercial power production (from its underground coal gasification (UCG) plant at Bloodwood Creek) “ ASX Announcement/ Media Release http://www.asx.com.au/asxpdf/20120210/pdf/4248kzn66fhx6t.pdf
  127. 127. UCG – Strong Foundation  2004 - UCG industry developing in QLD  2008 - QLD Govt commences scientific review  2009 - 3 Pilots approved in QLD in 2009  2011 - Positive findings on 2 Pilots  2012 - Operational recommendations
  128. 128. Ex USA - gas & coal price rises  Outside the USA,  Gas = 80% of the cost of Urea  Urea is made from gas or coal  Coal prices have risen  Urea Corp will have its own Coal and Gas
  129. 129. Urea Price driven by energy cost
  130. 130. Project Summary Train 1 Train 2 Train3Capex ($Am) 3,000 3,000 3,000Urea capacity (mtpa) 2.2 4.4 6.6Urea price ($A/t) 500 500 500Direct Opex, FOB ($A/t) 93 88 88Total Opex FOB ($A/t) 133 112 104Net Margin ($A/t) 367 388 396 Source: ** ASX Release - Technical audit completed on  Expansion Train 2 & Train 3 scoping study model 4th Sept 2010. Based on audited 30 years plant life scoping study . Excluding accounting adjustments for depreciation and amortisation. Scoping study completed to +/- 30% accuracy. Figures based on certain assumptions. If any assumption is not met, these figures may alter.
  131. 131. Project Tax Summary Train 1 Train 2 Train 3Royalties (A$m) 4 7 11MRRT (A$m) 6 11 17Carbon Tax (A$m) 61 122 183Carbon Tax Reduction (A$m) (61) (122) (183)Total Opex incl taxes FOB (A$/t) 137 116 108  Expansion Train 2 & Train 3 Source: ** ASX Release - Technical audit completed on scoping study model 4th Sept 2010. Based on audited 30 years plant life scoping study . Excluding accounting adjustments for depreciation and amortisation. Scoping study completed to +/- 30% accuracy. Figures based on certain assumptions. If any assumption is not met, these figures may alter.
  132. 132. Strategy – build the company 1. Core focus on advancing and de-risking Urea project 2. Off take agreements 3. JV with partner for Capex requirements 4. Realise value across asset portfolio 5. Surat Basin Coal asset sales 6. Coal exploration drilling
  133. 133. Small companies - Large Projects
  134. 134. De-risking our investment - 3 YearsIAS – Significant Project Determination from GovtEPBC – Environmental Management Strategy with GovtPotential Coal asset SalesSyngas 1 – First gas productionOff take Agreements and Project Finance
  135. 135. LBY Milestones for 2012  New QLD Government March  New UCG Policy July  Conditional finance & off take 2012  Designated Significant Project QLD June  Exploration drilling commences June  Cheap Fertiliser for farmers campaign June
  136. 136. Low cost fertilizer – Questions?  World’s first truly integrated Urea Facility  Low cost, long life (100+ yrs) operation  Reverse the balance of trade for Urea in Australia UB3, 431 Roberts Rd SUBIACO WA 6008 www.libertyresources.com.au PH: 08 9287 4488 FX: 08 9388 8862
  137. 137. Fertilisers for food production  Urea (Nitrogen N )  Potash (Potassium K )  Phosphate (Phosphorous P )  Trace elements  Water + CO2
  138. 138. From coal to Syngas Air Separation Unit (ASU) – O2 Syngas Clean up Supply 10,000 tpd ≥ 6 Suppliers 2,500 tpd O2 ≥ 200 Operating Plants ≥ 4 Suppliers ≥ 200 Operating Plants UCG - Directional Drilling • 10,000tpd Syngas • Many Geothermal/ Oil & Gas Contractors
  139. 139. Syngas - hydrogen rich
  140. 140. Hydrogen – essential for Ammonia Air Separation Electricity Electricity Power N2 + O 2 Power Generation NH3 Ammonium N2 Nitrate Syngas CO2O2 Urea Syngas Processing, Ammonia CO(NH2) 2 Clean up, Shift and PSA NH3 NH3 H2 H2 Ammonia Syngas H2S NH3 Coal Gasification Sulphur Ammonium C, H, O S Sulphate * Please note that figures are nominal only.
  141. 141. CBM vs UCG  CBM  Pumps water from the ground  The gas rises  Large water removal cost – still unresolved  UCG  Extracts coal, converting coal into syngas  Uses (low quality) water to produce hydrogen  Very low cost  Large benefit, small impact
  142. 142. Greg Starr Executive Chairman Gold Anomaly LimitedConnecting investors to opportunities www.symposium.net.au
  143. 143. Drilling for world class gold and copper discoveries at Crater Mountain, PNG Resources Roadshow presentation 27 February 2012Investor Presentation February 2012
  144. 144. Disclaimer This presentation contains forward-looking statements that are subject to risk factors associated with exploration, mine development, mining, processing and sale of minerals. Forward-looking statements include those containing such words as anticipate, estimates, should, will, expects, plans or similar expressions. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables and changes in underlying assumptions which could cause actual results or trends to differ materially. These include, but are not limited to: price and currency fluctuations, actual demand, production results, exploration results, reserve and resource estimates, loss of market, industry competition, environmental risks, physical risks, legislative and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates. Competent Person For Crater Mountain The information contained in this report relating to Exploration Results and Mineral Resources at Gold Anomaly’s Crater Mountain project, PNG is based on information compiled by Mr P Macnab, Non‐Executive Director of Gold Anomaly Limited. Mr Macnab is a Fellow of The Australian Institute of Geoscientists and has the relevant experience in relation to the mineralisation being reported upon 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. Mr Macnab consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Competent Person For Fergusson Island The data in this report that relates to Mineral Resources for the Gameta Deposit is based on information evaluated by Mr Simon Tear who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience 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 (the “JORC Code”). Mr Tear is a full-time employee of Hellman & Schofield Pty Ltd and he consents to the inclusion in the report of the Mineral Resource in the form and context in which they appear. Competent Person For Croydon The information contained in this report that relates to exploration results at Croydon, Queensland is based on information compiled by J. V. McCarthy, MAusIMM, Consulting Geologist. Mr McCarthy is a Member of The Australasian Institute of Mining and Metallurgy and has the relevant experience in relation to the mineralisation being reported upon 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. Mr McCarthy consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.Investor Presentation February 2012 145
  145. 145. 2/21/12 Google Maps Key assets To see all the details that are visible on the screen, use the Print link next to the map. Crater Mountain, PNG Fergusson Shaping up as PNG’s next large scale, bulk tonnage, Crater Island gold and copper discovery Mountain Fergusson Island, PNG Twin gold deposits identified, PFS completed, BFS to commence shortly Croydon Croydon, QLD Large drilled polymetallic and gold projects in maps.google.com.au/maps?hl=en&q=png+queensland+map&gs_sm=3&gs_upl=24426l28635l0l28994l12l12l0l0l0l7l230l2476l0.5.7l12l0&bav=on.2,… 1/2 world class mineral provinceInvestor Presentation February 2012 146
  146. 146. Regional Projects – Resource Ounces Crater Mountain has similar geological setting to Porgera, Wafi Link Zone, Hidden Valley, Misima 147Investor Presentation February 2012
  147. 147. Flagship asset – Crater Mountain Prime location • PNG: +$20bn multinational investment transforming nation • hosts mineral province that is home to several of the world’s largest gold/copper deposits • province characterised by large mineralised hydrothermal systems related to intrusions underlying variably eroded volcanic complexes Crater Mountain tenements • 4 prospects: Nevera, Nimi, Masi, Awaunita, most advanced is Nevera which is a former BHP tier-1 (best prospectivity) asset GOA Tenements • Nevera previously diamond drilled by BHP/Macmin/TPJ • similar geological setting to many PNG deposits including Porgera (Waruwari), Wafi/Golpu & Hidden Valley • Nevera location and topography expected to enable lower development and mining costs: amenable to open pit or bulk underground mining Extensive zones of gold mineralisationInvestor Presentation February 2012 148
  148. 148. Flagship asset – Crater Mountain Mineralisation model Gold Anomaly is currently focused in the northern 20% of the Nevera Prospect • structurally controlled, sub-volcanic intrusion related mineralisation • widespread low sulphidation epithermal gold mineralisation, with small centres of younger high sulphidation epithermal gold mineralisation, overlying possible porphyry copper - gold source • Main Zone comprises mixing zone carbonate - base metal sulphide - gold veins deposited +300m above porphyry source complex by mixing of downwards convecting cold groundwater with rising hot mineralised magmatic fluids • porphyry source complex may host significant copper - gold mineralization • Artisanal Mining Area comprises narrow steep zones of high sulphidation quartz-pyrite-gold mineralisation with some bonanza gold grades • Potential porphyry copper-gold source of deep quartz - pyrite ± chalcopyrite ± gold veins in drill holes inferred by alteration identified in recent drillingInvestor Presentation February 2012 149
  149. 149. Crater Mountain – Mineralisation model Multi-million ounce gold deposits targeted Nevera ‘mixing zone’ 1 - 5 Moz targeted1 in Main Zone and nearby related deposits Mixing Zone 24Mt @ 1.0 g/t Au for 790koz Au Style of mineralisation responsible for some of the most prolific gold deposits in the Pacific Rim including Porgera (Waruwari), Kelian, Wafi - Golpu, Hidden Valley Large scale, bulk tonnage gold deposits, grade >1.0 g/t AuInvestor Presentation February 2012 150
  150. 150. Crater Mountain ResourceMaiden inferred resource2• 790,000 ounces gold• 24 million tonnes @ 1.0 g/t AuSubstantial upside• Only considers part of Main Zone at Nevera• Main Zone still open• High grade zone identified within Main Zone• Significant upside potential yet to be drilledDoes NOT incorporate• high grade high sulphidation epithermal gold in the Artisanal Mining Area• new gold - copper mineralisation discovered in NEV031• possible deep feeder zones associated with porphyries recently drilled at depth/ possible porphyry copper - gold underlying mineralised system• remaining 80% of Nevera Prospect• regional prospects in the Crater Mountain tenementsInvestor Presentation February 2012 151
  151. 151. Crater Mountain – Main Zone High grade zones recently identified within Main Zone • Inferred resource – 790,000 oz • Tremendous upside • Extensive gold mineralisation • Further drilling of high grade zone likely to increase resource and grade Dimensions ~300m high grade zoneInvestor Presentation February 2012 152
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