Antimony: ‘Highest Risk’ Element


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Objective Capital's Rare Earths, Speciality & Strategic Metals
Investment Summit 2012
Ironmongers' Hall, City of London
13-14 March 2012
Speaker: Catherine Feore, Adroit Resources

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Antimony: ‘Highest Risk’ Element

  1. 1. RARE EARTHS, SPECIALITY& STRATEGIC METALSINVESTMENT SUMMIT Antimony: ‘Highest Risk’ Element Catherine Feore – Director & Vice President Marketing, Adroit Resources IRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY-WEDNESDAY, 13-14 MARCH 2012
  2. 2. February 2012Exploring MiningProperties Worldwide A focused explorer and developer of world class mining assets
  3. 3. DisclaimerThis presentation may contain « forward-looking statements » which reflect theCompany’s current expectations regarding the future results of operations, futureanticipated exploration results, performance and achievements of the Company,including potential property acquisitions, the timing, content and results or workprograms, geological interpretations and potential mineral recovery processes andnegotiation and closing of future financings.The statements reflect the current beliefs of the management of the Company, and arebased on currently available information. Accordingly, these statements are subject toknown and unknown risks, uncertainties and other factors, which could cause the actualresults, performance, or achievements of the Company to differ materially from thoseexpressed in, or implied by, these statements.In addition, investors are cautioned that this presentation may contain information aboutmineral properties adjacent to or near the Company’s properties and in which theCompany has no right or interest. Mineral deposits on such adjacent or near propertiesare not indicative of the mineral deposits, if any, which may be found on the Company’sproperties. TSXV: ADT • FSE: A7V 3
  4. 4. Presentation overviewCapital StructureTwo Flagship AssetsThe Antimony BusinessItalian PropertiesCanadian PropertiesManagement TSXV: ADT • FSE: A7V 4
  5. 5. Capital Structure (29 Feb 2012) Current Market: $.06 52 wk Price Range: $.04 - $.21 Shares outstanding: 135,295,191 Fully diluted: 203,795,506 Market Cap (millions): $8 Approx. Insider Holdings: 12%TSXV: ADT • FSE: A7V 5
  6. 6. Italian project officeTwo Flagship Assets1. Italy - Historic Antimony Resources: Former recent major antimony producing Manciano area, Grosseto Province, Italy Ontario project office2. Ontario – Polymetallic Vein & VMS Discovery: Red Vein Property, Shining Tree Mining Camp, Abitibi greenstone belt TSXV: ADT • FSE: A7V 6
  7. 7. Current exploration work programme:• Preparation for drilling of historic antimony resources, Italy.• Winter drilling programme on the Red Vein property, in the Shining Tree Camp, Ontario. TSXV: ADT • FSE: A7V 7
  8. 8. Antimony – Flame Retardant, 57% TSXV: ADT • FSE: A7V 8
  9. 9. Antimony – PET and Polyester, 14% and increasing TSXV: ADT • FSE: A7V 9
  10. 10. Antimony – Other uses TSXV: ADT • FSE: A7V 10
  11. 11. What is Antimony (Sb) used for? TSXV: ADT • FSE: A7V 11
  12. 12. World Production 2010 TSXV: ADT • FSE: A7V 12
  13. 13. And with Italian production...• 10,000t/year TSXV: ADT • FSE: A7V
  14. 14. And with Adroit’s internal objective...• 20,000t/year TSXV: ADT • FSE: A7V
  15. 15. Supply of Antimony• Chinese production decreasing : 180,000 t (2008), down to 120,000 t (2010) - 50% from one company• Export duties and quantitative limits imposed in 2010• Additional capacity purchased - Beaver Brook, in Canada and Anchor in Australia• There is no effective substitute for its major application (flame retardant)• Low recycling due to dissipative nature of major usage TSXV: ADT • FSE: A7V 15
  16. 16. Demand for Antimony• China introduces import subsidies in 2011• EU places Antimony on ‘Critical List of 14 Raw Materials’• US and EU currently 100% dependent on imports• British Geological Survey places in the very high risk category TSXV: ADT • FSE: A7V 16
  17. 17. The Antimony Business• Antimony prices recently climbed to over $17,000/t corrected to $12,300/t ($5.58 per pound)• Forecast to rise with increasing supply constraints 3-years Sb price (sources: 17 TSXV: ADT • FSE: A7V
  18. 18. Comparator - only one other pure antimony play,Tri-Star Resources TSXV: ADT • FSE: A7V 18
  19. 19. ADT’s Current Exploration Permits:• I Monti 273 hectares• Poggio Fogari 439 hectares• I Salaioli 366 hectares• Poggio Monticchio 162 hectares• Faggio Scritto 246 hectares• Poggio Pietricci 653 hectares• Total hectares 2,139 hectares TSXV: ADT • FSE: A7V 19
  20. 20. Former Producing Permits• Located in former major, recently producing, Manciano area, Grosseto Province, Italy• Historic antimony resources drilled in ‘81/’82 with a view to providing feed for the mine processing facility TSXV: ADT • FSE: A7V 20
  21. 21. ADT & Antimony in ItalyObjectiveTo recommence mining of antimony and other metals (Au, Ag, Sn)How will we do it?1. Current historic resources are over 45,000 tonnes of contained metal (not ore) and 43-101 resource calculation drilling is to commence in 2012.2. We plan to increase this to 100,000 tonnes of mineable Antimony resources in 43-101 resource calculations for a 10 year mine life by: a. Continued exploration on open antimony deposits on currently held properties and b. Expand our antimony resources by acquiring other properties known, or thought, to contain antimony resources. TSXV: ADT • FSE: A7V 21
  22. 22. Soil sampling between Macchia Cassella + Extension TSXV: ADT • FSE: A7V 22
  23. 23. Three new applications : Selvena, Catabbio, Valle Lupara TSXV: ADT • FSE: A7V 23
  24. 24. Focus on Canadian Properties• Under-explored properties• Regions known to contain prolific deposits• Abitibi greenstone belt renowned for past discoveries of volcanogenic massive sulphide (VMS) deposits Produced in excess of 450 Mt of Copper-Zinc ore to date TSXV: ADT • FSE: A7V 24
  25. 25. Red Vein Property, 142 km2, Shining Tree Camp• 80km South of Timmins• 4% of the world’s known VMS deposits, within a 200km radius including the Kidd Creek Mine (85km North)• ADT drilling confirmed VMS system at Grassy Lake. Cu & Au and Cu, Pb & Zn MMI geochemistry targets• 43-101 - Inferred McIntyre Deposit Model potential at Little Pigeon Lake. 2.3 km polymetallic vein samples of up to 10.4 % Cu VMS Deposits• Drilling programme this winter TSXV: ADT • FSE: A7V 25
  26. 26. Shining Tree Camp - Red Vein TSXV: ADT • FSE: A7V 26
  27. 27. Red Vein Target – Little Pigeon Lake Geological Model• ADT field work shown inferred McIntyre Deposit - NI 43-101 report refers• McIntyre Deposit is an intrusive-hosted vein and disseminated Cu-Au-Ag-Mo deposit and gold-pyrite- quartz vein system clustered around the Pearl Lake porphry intrusive• Mined between 1912 and 1988 producing 35 million oz Au, 7 million oz Ag and 100,000 tons Cu• Recovered grades were 0.59 g/t Au, 2.39 g/t Ag and 0.59% Cu. Unrecovered Mo at 0.05% TSXV: ADT • FSE: A7V 27
  28. 28. TSXV: ADT • FSE: A7V
  29. 29. Directors, Officers and ConsultantsGraeme Rowland, Chairman/President (Brussels)Dave Hutcheson, Director (Brussels)Catherine Feore, Director /VP Marketing (Brussels)Bill Jung, Chief Financial Officer (Vancouver)Frances Murphy, Company Secretary (Vancouver)Terry King, Corporate Counsel (Vancouver)Dr Guy Franceschi, Economic Geologist Consultant (Gent)Dr Mehmet Taner, Qualified person, PGeo (Ottawa)Dr Mark Fedikow, Qualified Person, PEng and PGeo (Winnipeg) TSXV: ADT • FSE: A7V 29
  30. 30. Technical ManagementGuy FranceschiManagement Geological AdvisorEconomic GeologistCobalt Team:Stuart Hopkins – ADT Cobalt Manager , Geo TechnicianQualified Person (QP) – Mark Fedikow, Eng. Ph. D.3 full time plus about 20 subcontractors, including 2 geologistsGrosseto Province Team:RMN S.r.l. – Risorse dei Minerali Naturali SRL (Subsidiary of ADT Inc.)Davide Franceschelli – RMN Manager, Geologist and Local work directorKarolina Cienkuszewska – Management administratorQualified Person (QP) – Mehmet Taner, Eng. Ph. D.6 full time plus about 10 subcontractors, including 5 geologists TSXV: ADT • FSE: A7V 30