Mil Resources- Resources & Energy Symposium 2012

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Mil Resources- Resources & Energy Symposium 2012

  1. 1. Strategy for Creating Shareholder Value May 2012
  2. 2. MIL Resources An option ON A WORLD CLASS MINERALS PACKAGE Strategy for Creating Shareholder Value May 2012 2
  3. 3. What does MIL Resources Offer? Clear strategy & structure for shareholder value creation Management track record of project delivery Undervalued leverage to major Iron Sands, Vanadium and Titanium project World class PNG gold/copper tenement package, with immediate drill targets ASX Code MGK; market cap $7million; net cash(after SPP) $2.5million Strategy for Creating Shareholder Value May 2012 3
  4. 4. Strategy for Value Creation Management ability to recognise, exploit and monetize undervalued resource projects Re-position and re-prioritise corporate structure & strategy to maximise shareholder returns Develop Iron Sands project Prepare world class gold/copper properties in PNG for investment and exploration by Majors Disciplined focus on development costs and creating value Strategy for Creating Shareholder Value May 2012 4
  5. 5. Core Competencies & Management Track RecordHistory of locating undeveloped projects in unrecognised & undervaluedcompanies and building low cost, high performance projectsPerformanceCIM Resources Ltd: Built Stratford mine to over 2mtpa of coking coal productionZapopan Ltd: Built Tanami mine to over 100,000oz pa gold productionDeliveryCIM Resources Ltd: Project delivered in record time & on budgetZapopan Ltd: Tanami mine delivered on time & on budgetValue creationCIM and Zapopan both increased in market cap by more than 100 times Strategy for Creating Shareholder Value May 2012 5
  6. 6. Revised Corporate Structure Revised Corporate Structure 100% 50% plus 50% Option 100% New Ireland Holdings Limited Amazon Bay Holdings Limited Titan Resources Pty Ltd Gold/Copper Iron sands/Vanadium/Titanium Gold/Copper New management New strategy for prioritising projects New approach to project development Refresh corporate structure Recapitalise New company name Strategy for Creating Shareholder Value May 2012 6
  7. 7. Amazon Bay Iron Sands Strategy Over 100 km stretch of coast line south east of Port Moresby  Focus on 30 km long Threadfin area, which has exploration target of 630 million tonnes 1 Plan to drill Threadfin to JORC status in CY2012 Current project strategy is to dredge sands to produce concentrate by gravity separation for pumping to shipping Preliminary test work indicated a concentrate grade of approximately 52% Fe, 1% V2O5 and 17% TiO2 Metallurgical processes now exist to separate out high grade vanadium and titanium products1 Quantity estimate based on previous drilling, Landsat and available radiometrics covering Amazon Bay dune formation. Refer Disclaimer Cautionary Statement Strategy for Creating Shareholder Value May 2012 7
  8. 8. Amazon Bay Iron Sands Threadfin project site Strategy for Creating Shareholder Value May 2012 8
  9. 9. Comparison with PeersSignificantly under valued when compared to peers with iron-vanadiun-titanium deposits Company ASX Resource1 (tonnes) Market Cap2 ($M) MIL Resources MGK 630 million3 7 Indo Mines IDO 165 million 69 TNG TNG 160 million 28 Speewah SPM 4.7 billion 26 Amex Resources AXZ 220 million 73 Balla Balla Project - 450 million 401 Resources as defined by Company2 As at 3 May 20123 Refer Disclaimer Cautionary Statement Strategy for Creating Shareholder Value May 2012 9
  10. 10. Amazon Bay Iron SandsStrategy for Shareholder Value Creation1 Purchase option to acquire remaining 50% of project  Implies a value of $20m+ for 100%, substantial discount to other similar projects2 Drilling & sampling  Define JORC compliant resource  Investigate separation of concentrate into three high purity productsStrategy is to produce three high value products – Iron, Vanadium & Titanium3 Project Development  Minimal capital outlay approach to project4 Develop corporate and strategic opportunities for wealth creation Strategy for Creating Shareholder Value May 2012 10
  11. 11. Amazon Bay Proposed DrillingRadiometrics draped over Google Earth Strategy for Creating Shareholder Value May 2012 11
  12. 12. Mining Projects in PNG to World Class Mining Projects Proximity 140o 142o 144o 146o 148o 150o 152o 154o 156o o 2o 2 Lorengau Vanimo Kavieng SIMBERI LIHIR New Ireland Wewak Namatanai SOLWARA 4o 4o Rabaul FRIEDA New Britain SINIVIT OK TEDI Madang Hoskins Tabubil Wabag PORGERA Mt Hagen RAMU YANDERRA Kimbe 6o 6o KAINANTU Kieta Chimbu Yonki Goroka Kandrian Bougainville PAPUA Lae WAFI-GOLPU Wau 8o HIDDEN VALEY NEW GUINEA 8o Kembra TOLUKUMA Popondetta Daru WOODLARK Port Moresby 10o 10o EXISITING AND POTENTIAL MINES Alotau MISIMA 0 100 200 UPDATED MAY 2012 12o 12o 140o 142o 144o 146o 148o 150o 152o 154o 156o Strategy for Creating Shareholder Value May 2012 12
  13. 13. Proximity to World Class Gold/CopperCopper Current Projects Iron Sands, Gold & Projects MANUS MUSSAU New Ireland LEGUSULUM TANGA New Britain PALABONG Papau New Guinea NORTH NEW BRITAIN ATUI Bougainville Port Moresby GOLDEN PEAK PROJECT LOCATIONS 0 100 200 AMAZON BAY UPDATED MAY 2012 POI Strategy for Creating Shareholder Value May 2012 13
  14. 14. New Ireland Gold/Copper Projects Strategy for Creating Shareholder Value May 2012 14
  15. 15. New Britain Gold/Copper Projects Strategy for Creating Shareholder Value May 2012 15
  16. 16. Conclusions Clear strategy & structure for shareholder value creation Management track record of project delivery Undervalued leverage to major Iron Sands, Vanadium and Titanium project World class PNG gold/copper tenement package with immediate drill targets Strategy for Creating Shareholder Value May 2012 16
  17. 17. foyson...abundant harvestStrategy for Creating Shareholder Value May 2012 17
  18. 18. MIL Resources LtdDISCLAIMER CAUTIONARY STATEMENTThis document has been prepared by MIL Resources Ltd (the Company). This document contains background information about the Company and its projects current atthe date of this document. It does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order tosatisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this document.The document is for information purposes only. Neither the document nor the information contained in it constitutes an offer, invitation, solicitation or recommendationin relation to the purchase or sale of shares in any jurisdiction. This document may not be distributed in any jurisdiction except in accordance with the legal requirementsapplicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction.To the fullest extent permitted by law, MIL Resources Ltd, its officers, employees, agents and advisers do not make any representation or warranty, expressed or implied, asto the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this document. Noresponsibility for any errors in or omissions from this document is accepted.Where MIL Resources Ltd expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed tohave a reasonable basis.1 To the extent that there is information set out in this document, any potential quantity and grade is conceptual in nature, as there has been insufficient exploration to define a mineral resource under the JORC Code and it is uncertain if further exploration will result in the determination of a mineral resource under the JORC Code. Quantity estimate based on previous drilling, Landsat and available radiometrics covering Amazon Bay dune formation. The information contained in this document that relates to Exploration Results or Mineral Resources or Ore Reserves is based on information compiled by John Haggman who is a Member of the Australian Institute of Geoscientists. Mr. Haggman is a director of MIL Resources Ltd. Mr. Haggman has sufficient experience which is relevant to the style of mineral deposits 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 Mineral Resources and Ore Reserves”. Mr Haggman consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. Strategy for Creating Shareholder Value May 2012 18

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