This document provides an overview of the tungsten industry presented by Chris Thompson of Haywood Securities Inc. It discusses the unique physical properties of tungsten that make it important for industrial applications. China dominates global tungsten supply at over 75% while the western world accounts for 25%. Supply and demand fundamentals are strong due to tungsten's importance and lack of substitutes. However, near-term prices may decline as China returns to the market after holidays. The document also lists and describes various tungsten mining projects and companies around the world.
Borehole geophysics is the science of recording and analyzing measurements of physical properties made in wells or test holes. Probes that measure different properties are lowered into the borehole to collect continuous or point data that is graphically displayed as a geophysical log. Multiple logs typically are collected to take advantage of their synergistic nature--much more can be learned by the analysis of a suite of logs as a group than by the analysis of the same logs individually. Borehole geophysics is used in ground-water and environmental investigations to obtain information on well construction, rock lithology and fractures, permeability and porosity, and water quality. The geophysical logging system consists of probes, cable and drawworks, power and processing modules, and data recording units. State-of-the-art logging systems are controlled by a computer and can collect multiple logs with one pass of the probe
This document describes various well logging techniques:
a) Gamma ray logs measure natural radioactivity to distinguish between shale and sandstone/limestone.
b) Spontaneous potential logs measure electrical potential between drilling mud and formation water to indicate permeability.
c) Resistivity logs measure formation resistance to electric current, with porous formations filled with saltwater having low resistivity and formations containing oil/gas having higher resistivity.
This Mine Hazard topic is disruption of basic Mining Activity hazard occur during mining operation of Drilling,Blasting,Excavation,Transportation ,Dumping
Density logging uses a tool that emits gamma rays into rock formations to determine bulk density along a wellbore. Bulk density depends on mineral density and porosity, with density being a primary indicator of porosity. The gamma rays collide with electrons in the formation through Compton scattering, with more collisions and energy loss occurring in denser formations that have more electrons. This allows density logging tools to measure formation density.
This document discusses drilling fluids and cementing processes used in oil and gas drilling operations. It defines drilling mud as a fluid mixture used to carry rock cuttings to the surface and lubricate/cool the drill bit. Mud engineers are responsible for testing and treating the mud. The main types of drilling mud are water-based, oil-based, and synthetic-based. Cementing involves pumping cement slurry into the annular space between the casing and borehole to secure the casing and prevent fluid migration. Primary cementing is the initial process, while secondary cementing repairs or improves the primary cement job through techniques like squeeze cementing and plug cementing. Common cement types used include Portland cement, oil well cement, Class
The document discusses variable density logs (VDL), which provide a color or grayscale representation of acoustic wave amplitude received during sonic or ultrasonic measurements. VDLs are commonly used alongside cement bond logs to provide better interpretation. It also discusses density logs, which measure formation density using gamma rays emitted from a borehole tool. Density is plotted on a bulk density scale and used to indicate porosity, derive total porosity, and identify lithology when used with neutron logs. Limitations include needing uniform mudcake/washouts less than 0.75 inches.
Well logging involves using sensors in a borehole to measure physical properties of surrounding rocks as a function of depth. There are several types of well logging including electrical, radioactivity, and sonic logging. Electrical well logging measures potential and resistivity, properties that vary according to the rock beds. Specifically, resistivity logging characterizes rocks by measuring their resistivity, which depends on factors like mineral content and pore water conductivity.
The document discusses the classification of well logs. It explains that logs can be classified based on their technology (open hole vs cased hole logs) or their function (lithology, electrical, porosity, nuclear logs). Open hole logs are run before casing while cased hole logs are done after casing through the metal piping. Various logging tools are described, including gamma ray, resistivity, density, neutron, and sonic logs which provide data on formation properties like lithology, porosity, and fluid content. Nuclear logs using gamma rays and neutrons can evaluate formations through casing as well.
Borehole geophysics is the science of recording and analyzing measurements of physical properties made in wells or test holes. Probes that measure different properties are lowered into the borehole to collect continuous or point data that is graphically displayed as a geophysical log. Multiple logs typically are collected to take advantage of their synergistic nature--much more can be learned by the analysis of a suite of logs as a group than by the analysis of the same logs individually. Borehole geophysics is used in ground-water and environmental investigations to obtain information on well construction, rock lithology and fractures, permeability and porosity, and water quality. The geophysical logging system consists of probes, cable and drawworks, power and processing modules, and data recording units. State-of-the-art logging systems are controlled by a computer and can collect multiple logs with one pass of the probe
This document describes various well logging techniques:
a) Gamma ray logs measure natural radioactivity to distinguish between shale and sandstone/limestone.
b) Spontaneous potential logs measure electrical potential between drilling mud and formation water to indicate permeability.
c) Resistivity logs measure formation resistance to electric current, with porous formations filled with saltwater having low resistivity and formations containing oil/gas having higher resistivity.
This Mine Hazard topic is disruption of basic Mining Activity hazard occur during mining operation of Drilling,Blasting,Excavation,Transportation ,Dumping
Density logging uses a tool that emits gamma rays into rock formations to determine bulk density along a wellbore. Bulk density depends on mineral density and porosity, with density being a primary indicator of porosity. The gamma rays collide with electrons in the formation through Compton scattering, with more collisions and energy loss occurring in denser formations that have more electrons. This allows density logging tools to measure formation density.
This document discusses drilling fluids and cementing processes used in oil and gas drilling operations. It defines drilling mud as a fluid mixture used to carry rock cuttings to the surface and lubricate/cool the drill bit. Mud engineers are responsible for testing and treating the mud. The main types of drilling mud are water-based, oil-based, and synthetic-based. Cementing involves pumping cement slurry into the annular space between the casing and borehole to secure the casing and prevent fluid migration. Primary cementing is the initial process, while secondary cementing repairs or improves the primary cement job through techniques like squeeze cementing and plug cementing. Common cement types used include Portland cement, oil well cement, Class
The document discusses variable density logs (VDL), which provide a color or grayscale representation of acoustic wave amplitude received during sonic or ultrasonic measurements. VDLs are commonly used alongside cement bond logs to provide better interpretation. It also discusses density logs, which measure formation density using gamma rays emitted from a borehole tool. Density is plotted on a bulk density scale and used to indicate porosity, derive total porosity, and identify lithology when used with neutron logs. Limitations include needing uniform mudcake/washouts less than 0.75 inches.
Well logging involves using sensors in a borehole to measure physical properties of surrounding rocks as a function of depth. There are several types of well logging including electrical, radioactivity, and sonic logging. Electrical well logging measures potential and resistivity, properties that vary according to the rock beds. Specifically, resistivity logging characterizes rocks by measuring their resistivity, which depends on factors like mineral content and pore water conductivity.
The document discusses the classification of well logs. It explains that logs can be classified based on their technology (open hole vs cased hole logs) or their function (lithology, electrical, porosity, nuclear logs). Open hole logs are run before casing while cased hole logs are done after casing through the metal piping. Various logging tools are described, including gamma ray, resistivity, density, neutron, and sonic logs which provide data on formation properties like lithology, porosity, and fluid content. Nuclear logs using gamma rays and neutrons can evaluate formations through casing as well.
Iron is the third most abundant element in the Earth's crust. It is rarely found in its native form and usually exists in minerals as oxides and carbonates. The main iron ore minerals are magnetite, hematite, goethite, limonite, and siderite. India has significant iron ore reserves, estimated at around 29 billion tonnes. The major iron ore producing states are Odisha, Jharkhand, Chhattisgarh, Karnataka, Goa and Tamil Nadu. India produced around 56 million tonnes of iron ore in 1990-91, of which 57% was exported. The main use of iron ore is in the production of iron and steel, which have applications in infrastructure
The document provides an overview of principles of well logging and formation evaluation. It discusses different well logging tools and techniques used to measure properties like resistivity, spontaneous potential, and borehole diameter. Well logging allows for determination of lithology, fluid content, porosity, and permeability of rock formations for purposes like identifying hydrocarbon bearing zones and estimating reserves. The document covers concepts such as the invaded zone, uninvaded zone, and formation resistivity factor which are important for understanding well log measurements and evaluation.
Formation evaluation and well logging are processes used to determine the properties of subsurface reservoirs and identify commercially viable oil and gas fields. Key logging tools developed over time include resistivity logs in the 1920s, dipmeters in the 1940s, gamma ray and neutron logs in the 1940s, sonic logs in the 1950s, density logs in the 1960s, and logging while drilling was introduced, allowing real-time data acquisition. The document provides a historical overview of the development of various openhole well logging tools and techniques.
This document summarizes various underground mining methods. It describes supported methods like cut and fill stoping which uses backfill, and unsupported methods like room and pillar mining where pillars provide natural support. It also discusses caving methods, including longwall mining where powered supports are used and sublevel caving where the ore and rock above cave in controlled columns. Conditions for each method are provided regarding ore and rock strength, deposit size and shape, depth, grade, and uniformity. The production cycle for each typically involves drilling, blasting, loading, and hauling, with auxiliary operations like ventilation and ground control.
Introduction
Petrophysic of the rocks
It is the study of the physical and chemical properties of the rocks related to the pores and fluid distribution
Porosity, is ratio between volume of void to the total voids of the rock.
Permeability, is ability of a porous material to allow fluids to pass through it.
Electric, most of the sedimentary rocks don’t have conductivity.
Radiation, clay rocks have 40K, radiate alpha ray.
Hardness, it depends on the cementing material and thickness of the sediments.
WELL LOGGING
The systematic recording of rock properties and it’s fluid contents in wells being drilled or produced to obtain various petrophysical parameters and characteristics of down hole sequences (G.E Archie 1950).
The measurement versus depth or time, or both, of one or more physical properties in a well.
These methods are particularly good when surface outcrops are not available, but a direct sample of the rock is needed to be sure of the lithology.
A wide range of physical parameters can be measured.
In some cases, the measurements are not direct, it require interpretation by analogy or by correlating values between two or more logs run in the same hole.
Provide information on lithology, boundaries of formations and stratigraphic correlation.
Determine Porosity, Permeability, water, oil and gas saturation.
Reservoir modeling and Structural studies… etc.
Types of Well Logging
Logs can be classified into several types under different category
Permeability and lithology Logs
Gamma Ray log
Self Potential [SP] log
Caliber log
Porosity Logs
Density log
Sonic log
Neutron log
Electrical Logs
Resistivity Log
For contact : omerupto3@gmail.com
Emitted neutrons interact with matter through elastic scattering, where they lose some energy, or inelastic scattering, where the target nucleus absorbs neutrons and emits slower neutrons and gamma rays. The amount of energy lost depends on the mass of the nucleus collided with. Hydrogen causes the highest energy loss at 67% per collision due to its similar mass to neutrons. Heavier nuclei cause less energy loss. Neutron logs measure formation hydrogen content to indicate porosity and lithology. There are two main types - single neutron pad logs detecting epithermal neutrons over short intervals, and compensated neutron logs detecting thermal neutrons over deeper intervals. Neutron logs are used to determine porosity, delineate porous formations
The document discusses drilling fluids or mud, which are fluids circulated during drilling operations. There are several types of drilling fluids including water-based, oil-based, foam-based, and synthetic-based fluids. Drilling fluids serve various important functions including removing cuttings from the well, controlling formation pressure, maintaining wellbore stability, minimizing damage to the reservoir, and cooling and lubricating the drill bit. The appropriate type of drilling fluid depends on factors like the desired performance, environmental considerations, safety, cost, and availability. Water-based and oil/synthetic-based fluids are described in more detail. The document also outlines various properties and tests used to analyze the characteristics of drilling fluids.
WELL LOG : Types of Logs, The Bore Hole Image, Interpreting Geophysical Well Logs, applications, Production logs, Well Log Classification and Cataloging
The induction log was invented in 1947 to measure formation resistivity in non-conductive boreholes containing oil-based muds or drilled without fluid. It works using a transmitter coil that generates a magnetic field around the borehole, which is measured by a receiver coil. Factors like borehole size, mud properties, and bed thickness can influence readings. Induction logs are used for saturation determination, lithology identification, and locating hydrocarbon zones, and provide accurate resistivity readings, especially in low resistivity formations. The tool is minimally affected by drilling fluid resistivity.
This document provides an overview of drilling fluids and their role in drilling operations. It discusses the components and properties of drilling fluids, including continuous and dispersed phases as well as additives. The types of drilling fluids are described, including water-based muds, oil-based muds, gases, and gas-liquid mixtures. The key functions of drilling fluids to support drilling operations are also outlined. The document concludes with discussions of pressure terminologies and examples of calculations related to drilling fluid properties and components.
The document provides an overview of well logging techniques and tools. It discusses the history of well logging beginning in 1912 and describes some common downhole tools used for well logging including gamma ray, spontaneous potential, neutron, density, resistivity, and acoustic logs. It explains what each tool measures and how the data can be used to evaluate properties of the formation like lithology, porosity, fluid content, and structure for purposes like hydrocarbon exploration and reservoir characterization.
Porphyry copper deposits form near shallow porphyritic intrusions where hydrothermal fluids interact with the intrusion and surface waters. Characteristic alteration minerals like chlorite, epidote, clays and micas form from the reaction of hydrothermal solutions with igneous rock silicates. Primary sulfide minerals like chalcopyrite and bornite near the intrusion are oxidized in the supergene zone to form secondary copper minerals and oxides, leaving a gossan at the surface. In contrast, epithermal deposits form at even shallower depths dominated by surface waters and produce a variety of ore minerals including gold, silver, lead and zinc.
The neutron log measures formation porosity by bombarding it with neutrons. These neutrons interact with hydrogen atoms in the formation and produce gamma rays. The tool counts the gamma rays to determine porosity, with more hydrogen indicating more pore space and fluid. However, the neutron log can incorrectly indicate high porosity in shales due to bound water in clays. The NMR log is used to distinguish between bound and movable fluid to correct this shale effect. The neutron log is useful for determining porosity, delineating porous formations, detecting gas, and estimating shale content.
Contains a short description of source rock and it is classified whilst making due diligence to relate it to its importance to geologist (or economic importance in general)
1. The document discusses skarn zoning patterns and controlling factors based on a webinar presented by Zhaoshan Chang from Colorado School of Mines.
2. Skarns typically show zoning based on the transfer of heat and mass away from intrusions, with endoskarns nearest intrusions containing garnet and pyroxene that change in ratio and composition farther out.
3. Important controlling factors on skarn formation and metal zoning include the redox state, composition, and degree of fractionation of the causative magma as well as the composition, permeability and depth of the wall rocks.
Uranium Deposits
Uranium is a very dense metal which can be used as an abundant source of concentrated energy. It occurs in most rocks in concentrations of 2 to 4 parts per million and is as common in the earth's crust as tin, tungsten and molybdenum.
.
There are three main types of uranium deposits including 1. unconformity-type deposits, 2. paleoplacer deposits and 3. sandstone-type (roll front) deposits (Figure 1). Sandstone-type deposits are abundant in sedimentary rocks of the Colorado Plateau and found on the Navajo Nation. This type of uranium deposit is easier and cheaper to mine than the other types because the uranium is found near the surface of the Earth. These deposits formed when oxidized groundwater that had leached uranium from surface rocks flowed down into aquifers, where it was reduced to precipitate uraninite, the primary ore mineral of uranium. In some deposits, like those found on the Navajo Nation, reduction took place along curved zones know as roll-fronts, which represent the transition from oxidized to reduced conditions in the aquifer.
Application of rare earths in consumer electronics and challenges for recyclingOeko-Institut
The presentation “Application of rare earths in consumer electronics and challenges for recycling” was held by our colleague Ran Liu on the International Conference on Consumer Electronics on 8. September 2011, which focused on rare earths relevance for consumer applications.
Iron is the third most abundant element in the Earth's crust. It is rarely found in its native form and usually exists in minerals as oxides and carbonates. The main iron ore minerals are magnetite, hematite, goethite, limonite, and siderite. India has significant iron ore reserves, estimated at around 29 billion tonnes. The major iron ore producing states are Odisha, Jharkhand, Chhattisgarh, Karnataka, Goa and Tamil Nadu. India produced around 56 million tonnes of iron ore in 1990-91, of which 57% was exported. The main use of iron ore is in the production of iron and steel, which have applications in infrastructure
The document provides an overview of principles of well logging and formation evaluation. It discusses different well logging tools and techniques used to measure properties like resistivity, spontaneous potential, and borehole diameter. Well logging allows for determination of lithology, fluid content, porosity, and permeability of rock formations for purposes like identifying hydrocarbon bearing zones and estimating reserves. The document covers concepts such as the invaded zone, uninvaded zone, and formation resistivity factor which are important for understanding well log measurements and evaluation.
Formation evaluation and well logging are processes used to determine the properties of subsurface reservoirs and identify commercially viable oil and gas fields. Key logging tools developed over time include resistivity logs in the 1920s, dipmeters in the 1940s, gamma ray and neutron logs in the 1940s, sonic logs in the 1950s, density logs in the 1960s, and logging while drilling was introduced, allowing real-time data acquisition. The document provides a historical overview of the development of various openhole well logging tools and techniques.
This document summarizes various underground mining methods. It describes supported methods like cut and fill stoping which uses backfill, and unsupported methods like room and pillar mining where pillars provide natural support. It also discusses caving methods, including longwall mining where powered supports are used and sublevel caving where the ore and rock above cave in controlled columns. Conditions for each method are provided regarding ore and rock strength, deposit size and shape, depth, grade, and uniformity. The production cycle for each typically involves drilling, blasting, loading, and hauling, with auxiliary operations like ventilation and ground control.
Introduction
Petrophysic of the rocks
It is the study of the physical and chemical properties of the rocks related to the pores and fluid distribution
Porosity, is ratio between volume of void to the total voids of the rock.
Permeability, is ability of a porous material to allow fluids to pass through it.
Electric, most of the sedimentary rocks don’t have conductivity.
Radiation, clay rocks have 40K, radiate alpha ray.
Hardness, it depends on the cementing material and thickness of the sediments.
WELL LOGGING
The systematic recording of rock properties and it’s fluid contents in wells being drilled or produced to obtain various petrophysical parameters and characteristics of down hole sequences (G.E Archie 1950).
The measurement versus depth or time, or both, of one or more physical properties in a well.
These methods are particularly good when surface outcrops are not available, but a direct sample of the rock is needed to be sure of the lithology.
A wide range of physical parameters can be measured.
In some cases, the measurements are not direct, it require interpretation by analogy or by correlating values between two or more logs run in the same hole.
Provide information on lithology, boundaries of formations and stratigraphic correlation.
Determine Porosity, Permeability, water, oil and gas saturation.
Reservoir modeling and Structural studies… etc.
Types of Well Logging
Logs can be classified into several types under different category
Permeability and lithology Logs
Gamma Ray log
Self Potential [SP] log
Caliber log
Porosity Logs
Density log
Sonic log
Neutron log
Electrical Logs
Resistivity Log
For contact : omerupto3@gmail.com
Emitted neutrons interact with matter through elastic scattering, where they lose some energy, or inelastic scattering, where the target nucleus absorbs neutrons and emits slower neutrons and gamma rays. The amount of energy lost depends on the mass of the nucleus collided with. Hydrogen causes the highest energy loss at 67% per collision due to its similar mass to neutrons. Heavier nuclei cause less energy loss. Neutron logs measure formation hydrogen content to indicate porosity and lithology. There are two main types - single neutron pad logs detecting epithermal neutrons over short intervals, and compensated neutron logs detecting thermal neutrons over deeper intervals. Neutron logs are used to determine porosity, delineate porous formations
The document discusses drilling fluids or mud, which are fluids circulated during drilling operations. There are several types of drilling fluids including water-based, oil-based, foam-based, and synthetic-based fluids. Drilling fluids serve various important functions including removing cuttings from the well, controlling formation pressure, maintaining wellbore stability, minimizing damage to the reservoir, and cooling and lubricating the drill bit. The appropriate type of drilling fluid depends on factors like the desired performance, environmental considerations, safety, cost, and availability. Water-based and oil/synthetic-based fluids are described in more detail. The document also outlines various properties and tests used to analyze the characteristics of drilling fluids.
WELL LOG : Types of Logs, The Bore Hole Image, Interpreting Geophysical Well Logs, applications, Production logs, Well Log Classification and Cataloging
The induction log was invented in 1947 to measure formation resistivity in non-conductive boreholes containing oil-based muds or drilled without fluid. It works using a transmitter coil that generates a magnetic field around the borehole, which is measured by a receiver coil. Factors like borehole size, mud properties, and bed thickness can influence readings. Induction logs are used for saturation determination, lithology identification, and locating hydrocarbon zones, and provide accurate resistivity readings, especially in low resistivity formations. The tool is minimally affected by drilling fluid resistivity.
This document provides an overview of drilling fluids and their role in drilling operations. It discusses the components and properties of drilling fluids, including continuous and dispersed phases as well as additives. The types of drilling fluids are described, including water-based muds, oil-based muds, gases, and gas-liquid mixtures. The key functions of drilling fluids to support drilling operations are also outlined. The document concludes with discussions of pressure terminologies and examples of calculations related to drilling fluid properties and components.
The document provides an overview of well logging techniques and tools. It discusses the history of well logging beginning in 1912 and describes some common downhole tools used for well logging including gamma ray, spontaneous potential, neutron, density, resistivity, and acoustic logs. It explains what each tool measures and how the data can be used to evaluate properties of the formation like lithology, porosity, fluid content, and structure for purposes like hydrocarbon exploration and reservoir characterization.
Porphyry copper deposits form near shallow porphyritic intrusions where hydrothermal fluids interact with the intrusion and surface waters. Characteristic alteration minerals like chlorite, epidote, clays and micas form from the reaction of hydrothermal solutions with igneous rock silicates. Primary sulfide minerals like chalcopyrite and bornite near the intrusion are oxidized in the supergene zone to form secondary copper minerals and oxides, leaving a gossan at the surface. In contrast, epithermal deposits form at even shallower depths dominated by surface waters and produce a variety of ore minerals including gold, silver, lead and zinc.
The neutron log measures formation porosity by bombarding it with neutrons. These neutrons interact with hydrogen atoms in the formation and produce gamma rays. The tool counts the gamma rays to determine porosity, with more hydrogen indicating more pore space and fluid. However, the neutron log can incorrectly indicate high porosity in shales due to bound water in clays. The NMR log is used to distinguish between bound and movable fluid to correct this shale effect. The neutron log is useful for determining porosity, delineating porous formations, detecting gas, and estimating shale content.
Contains a short description of source rock and it is classified whilst making due diligence to relate it to its importance to geologist (or economic importance in general)
1. The document discusses skarn zoning patterns and controlling factors based on a webinar presented by Zhaoshan Chang from Colorado School of Mines.
2. Skarns typically show zoning based on the transfer of heat and mass away from intrusions, with endoskarns nearest intrusions containing garnet and pyroxene that change in ratio and composition farther out.
3. Important controlling factors on skarn formation and metal zoning include the redox state, composition, and degree of fractionation of the causative magma as well as the composition, permeability and depth of the wall rocks.
Uranium Deposits
Uranium is a very dense metal which can be used as an abundant source of concentrated energy. It occurs in most rocks in concentrations of 2 to 4 parts per million and is as common in the earth's crust as tin, tungsten and molybdenum.
.
There are three main types of uranium deposits including 1. unconformity-type deposits, 2. paleoplacer deposits and 3. sandstone-type (roll front) deposits (Figure 1). Sandstone-type deposits are abundant in sedimentary rocks of the Colorado Plateau and found on the Navajo Nation. This type of uranium deposit is easier and cheaper to mine than the other types because the uranium is found near the surface of the Earth. These deposits formed when oxidized groundwater that had leached uranium from surface rocks flowed down into aquifers, where it was reduced to precipitate uraninite, the primary ore mineral of uranium. In some deposits, like those found on the Navajo Nation, reduction took place along curved zones know as roll-fronts, which represent the transition from oxidized to reduced conditions in the aquifer.
Application of rare earths in consumer electronics and challenges for recyclingOeko-Institut
The presentation “Application of rare earths in consumer electronics and challenges for recycling” was held by our colleague Ran Liu on the International Conference on Consumer Electronics on 8. September 2011, which focused on rare earths relevance for consumer applications.
1. The document discusses welding processes and parameters for overlaying and joining different types of steels, including low alloy steels and stainless steels, with thicknesses ranging from 2mm to 200mm.
2. Welding processes discussed include SMAW, GTAW, and SAW using different filler metals depending on the base metals.
3. Key parameters specified include joint design, filler metal specifications, preheat and interpass temperatures, voltage, amperage, wire feed speed, and travel speed. Maintaining intermediate temperatures is noted as important.
Caiman Energy Rick Moncrief Executive Vice President Business Developmentamericasfish
Caiman Energy has established a strong position in the Marcellus Shale through the development of midstream infrastructure including gas processing plants, a fractionation facility, NGL pipelines, and over 200 miles of gathering lines on over 231,000 dedicated acres. As infrastructure has come online, natural gas production and rig counts have rapidly increased. With further expansion planned, Caiman is well-positioned to handle increased volumes and provide takeaway capacity as production from the liquids-rich Marcellus and Utica Shales continues to ramp up.
Great Western Minerals Group Ltd. is developing rare earth element projects globally and is pursuing a vertically integrated business model in the rare earth industry. The company currently produces rare earth alloys through its subsidiaries and is actively developing several rare earth properties, including the former-producing Steenkampskraal Mine in South Africa, which it has an option to refurbish and bring back into production by 2012. Once in production, Steenkampskraal will supply all the rare earth material required for the company's manufacturing operations. The presentation provided an overview of the company's projects, manufacturing facilities, and strategy to become the first fully integrated rare earth producer outside of China.
This document provides a summary of Evraz Group, a large steel and mining company. Some key points:
- Evraz is one of the largest steel producers globally and a leader in markets like Russia, CIS, Europe and North America.
- In 2008, Evraz produced over 17 million tons of crude steel and generated $20.4 billion in revenue.
- The presentation discusses Evraz's global operations, cost optimization efforts, debt management, and operational results for 3Q09. Production and sales were improving as steel demand recovered in Asia and other markets.
- Evraz aims to maintain its low-cost production through efficiency gains and vertical integration across its mining and steel businesses. This allows it
2006:Botswana - Recent Economic Developments and Prospectseconsultbw
Recent economic developments in Botswana show signs of recovery in some areas but continued weakness in others. Mining sector growth remains strong while the non-mining sector shows only weak evidence of recovery. Inflation rose sharply but has been decreasing, though it remains above the central bank's target range. Exchange rate policies have helped restore competitiveness. Banking sector liquidity is high and may contribute to further credit growth above the central bank's target range.
A copy of the presentation I gave at the AusIMM 2009 International Uranium Conference. It outlines some testing I conducted on a Brannerite ore to beneficiate it.
This document discusses the tin market and opportunities for new tin sources. It notes that tin production is led by a few major companies and countries. While global reserves remain steady, supply is constrained, supporting higher prices. Tin finds major applications in electronics and other industries. New mining projects are needed to meet demand and replace depleting resources. The document examines major tin producers and deposits, forecasts for supply and prices, and opportunities for new projects.
Developing Markets for Natural Graphite by George C HawleyGraphite Graphite
This document discusses developing markets for natural graphite. It provides biographical information about the author and their experience working with graphite. Key properties and uses of natural graphite are described, including in lithium-ion batteries, solar panels, fuel cells, and other energy applications. The document also discusses the lithium-ion battery market and components like anodes, noting that natural graphite is a desirable anode material but supply could be constrained as demand increases.
- The document summarizes a presentation by Don Burton, President of Namibia Rare Earths, about the company's exploration project in Namibia targeting heavy rare earth elements.
- Namibia Rare Earths holds a large land package in Namibia called the Lofdal project that shows potential for rare earth element deposits with exceptional enrichment in heavy rare earths like dysprosium and terbium.
- Drilling has already intersected a 16 meter interval grading 1.28% total rare earth oxides with over 94% being heavy rare earth oxides, demonstrating the potential for heavy rare earth enrichment at Lofdal.
Fortuna Silver Mines owns and operates the San Jose silver mine in Mexico and the Caylloma polymetallic mine in Peru. The company has a strong balance sheet with $60.65 million in cash and no debt. Fortuna is focused on growing its silver production and reserves through brownfields exploration and disciplined acquisitions to become a leading silver mining company in Latin America.
When Is Reverse Osmosis Right For Boiler Pre TreatmentCharles_Haynes
R is considered as a pretreatment option for boilers to replace existing softening or demineralization systems. Potential benefits of RO include reduced chemical treatment costs, improved steam purity and equipment reliability, and reduced risk. Factors to consider when evaluating RO include cycles of concentration, plant size and pressure, makeup water quality, and existing infrastructure. Questions can help qualify the feasibility of an RO conversion by assessing customer priorities and technical limitations.
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This document discusses the benefits and considerations for replacing a boiler's softened makeup water system with an RO/DI system. Some key benefits include improved steam purity and safety, reduced corrosion and chemical costs, and potential improvements to boiler and turbine efficiency. Factors to consider include cycles of concentration, plant size, makeup water quality, and whether the system is a new installation or retrofit. The document provides guidelines on boiler water quality targets and questions to help qualify the feasibility of a conversion to RO/DI makeup.
There are potential membrane solutions for replacing or augmenting existing boiler water treatment systems using reverse osmosis (RO). RO could be used front-end of demineralizers, replace or supplement softeners, or replace resin-based demineralizers with a mixed bed quality train. Key considerations for RO include pressure requirements, scale control strategies, oxygen scavenging, and impact on steam purity.
When Is Reverse Osmosis Right For Boiler Pre TreatmentCharles_Haynes
This document discusses the benefits and considerations for using reverse osmosis (RO) pretreatment for boiler feedwater instead of softening. Some key benefits of RO include reduced fuel and chemical costs, improved steam purity and corrosion control. Factors to consider for RO include cycles of concentration, plant size, makeup water quality, and existing system components. Questions are provided to help qualify the feasibility of replacing softening with RO/DI, such as customer concerns, conductivity, costs, and system constraints.
The “World Silver Survey” is the authoritative publication on the silver market. The 2012 edition reports on all aspects of the silver market, including key areas such as demand, supply, investment, and price. Thomson Reuters GFMS produced the “World Silver Survey 2012” on behalf of the Silver Institute, which has been publishing the “Survey” since 1990. Thomson Reuters GFMS is recognized as the world’s leading precious metals markets consultancy.
TALAT Lecture 2301: Design of Members Example 5.4: Axial force resistance of ...CORE-Materials
The document provides a 7-page example problem on calculating the axial force resistance of a channel cross section. It includes the cross section dimensions, material properties, nodal coordinates, varying thicknesses, sectorial coordinates, length of elements, area, first and second moments of area, and other cross section properties needed to analyze the channel for axial loading. The goal is to determine the axial force capacity of the channel cross section.
Chemical Vapor Deposition of Rutheniumteresaspicer
The document summarizes research on chemical vapor deposition of ruthenium thin films using tricarbonyl(1,3-cyclohexadiene)Ru(0) as the precursor. Key findings include:
(1) NMR analysis showed the likely decomposition reaction is (C6H8)Ru(CO)3 → H2 + C6H6 + 3CO, with a low activation energy of 17 ± 7 kJ/mol, enabling low-temperature deposition.
(2) Films were crystalline at all deposition temperatures and exhibited a compact microstructure. Texture was determined by growth conditions rather than thermodynamic driving forces.
(3) Contrary to surface science studies, the 1,3
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3. Talking Tungsten
(Isn’t it About Time?)
Nicole Adshead-Bell
Investment Banking
Kevin Campbell
Investment Banking
4. Today’s Session
Overview of Tungsten
Chris Thompson, Haywood Securities
David Coffin, Hard Rock Analyst
Companies
North American Tungsten
Cantung (NWT), Mactung (NWT/Yukon)
•
Stephen Leahy, Chairman & CEO
•
Geodex Minerals
Sisson Brook (NB), Mount Pleasant West (NB)
•
Jack Marr, VP Exploration
•
Playfair Mining
Grey River (NFLD), Risby/Lened/Clea (YK)
•
David Matousek, Corporate Development
•
Adex Mining
Mount Pleasant (NB)
•
Kabir Ahmed, President & CEO
•
Golden Predator
Springer Complex/Copper King (NV), Fostung (ON)
•
Bill Sheriff (Chairman & CEO), Peter Bosse (COO), Art Ettlinger (CTO)
•
4
5. Why Now?
Little interest in tungsten due to extreme historic price
volatility.
Comparable to the uranium sector:
Strategic metal with no substitutes. Nb Tc
Mo
Higher prices can be absorbed by the
consumer due to small amounts used. Ta Re
W
Lack of exploration for >20 years has
resulted in a supply bottleneck.
Pa Np
U
Paucity of pure play primary producers.
5
6. Tungsten – Key Characteristics
Key Tungsten
Characteristics
Melting Point 3,422ºC 2005 Tungsten End Use (% )
Boiling Point 5,555ºC
Others
Mohs Hardness 7.5 18%
19.25 g.cm-3
Density
Hardmetals
Thermal Conductivity Good
50%
Thermal Expansion Low Mill Products
15%
Main Uses Hard Metals, Steel/Superalloys
Environmentally benign.
Steel/Superal
Small market. loys
17%
Does not trade on a terminal market e.g., LME.
China has the largest resource base (largest tungsten
producer).
6
7. Volatility: Tungsten vs Industrial Metals
Tungsten has been the most stable commodity over the past three
years.
1400%
Tungsten APT
1200%
Moly
Copper
1000%
Nickel
Zinc
800%
Variance (%)
600%
400%
200%
0%
-200%
00
01
02
03
04
05
06
07
08
09
0
1
2
3
4
5
6
7
8
l-0
l-0
l-0
l-0
l-0
l-0
l-0
l-0
l-0
n-
n-
n-
n-
n-
n-
n-
n-
n-
n-
Ju
Ju
Ju
Ju
Ju
Ju
Ju
Ju
Ju
Ja
Ja
Ja
Ja
Ja
Ja
Ja
Ja
Ja
Ja
Source: Bloomberg.
7
8. Tungsten Price – Stability & Resilience
Relative Performance - Since 2001
300%
Tungsten APT
250%
S&P/TSX
200% S&P/TSX-V
Variance (%)
150%
100%
50%
0%
-50%
-100%
1
2
3
4
5
6
7
8
01
02
03
04
05
06
07
08
09
l-0
l-0
l-0
l-0
l-0
l-0
l-0
l-0
n-
n-
n-
n-
n-
n-
n-
n-
n-
Ju
Ju
Ju
Ju
Ju
Ju
Ju
Ju
Ja
Ja
Ja
Ja
Ja
Ja
Ja
Ja
Ja
Source: Bloomberg.
8
9. Strong Metal Price Appreciation
Price up by 376% since 2002 yet production only up
19%.
80,000 $300
Total Mine Production
Total Demand
70,000
$250
APT Price US$/MTU (Yearly Average)
60,000
Tungsten (Tonnes)
$200
50,000
40,000 $150
30,000
$100
20,000
$50
10,000
0 $0
2002 2003 2004 2005 2006 2007
Source: ITIA, Metals Bulletin.
9
10. Tungsten – Key Events
January 2007 – China implemented 5 to 15% export tax on primary
tungsten products.
January 2007 – China cancelled export tax rebates on tungsten
products.
June 2007 – China implemented uniform 15% export tax on all
primary tungsten products.
October 2007 – China decreased tungsten export quota from
15,400t/yr to 14,900t/yr.
November 2007 – China forbids foreigners from investing in
tungsten.
October 2008 – China reduces tungsten export quota additional 2%.
November 2008 – Queensland Ores suspends operations.
10
11. Tungsten – The Unknown Consolidation Spree
December 2006 – Dragon Capital buys Tiberon Minerals.
May 2007 – Osram Sylvania agrees to purchase 100% of Heemskirk’s tungsten
concentrate from the Los Santos development project.
July 2007 – Hunan Nonferrous Metals announces US$155MM financing for
“development of nonferrous metals projects and acquisition of mining rights in the
PRC and overseas”.
August 2007 – Sojitz Corporation announces takeover of Primary Metals (58%
premium to VWAP30).
March 2007 – Hunan Nonferrous Metals signs LOI with King Island Scheelite to
redevelop the company’s tungsten project.
November 2007 – Hunan Nonferrous Metals “may spend up to five billion yuan to buy
mining assets in Australia and Canada in the next two years” (South China Morning
Post).
March 2008 – Hunan Nonferrous Metals signs LOI with North American Tungsten for
private placement (at 36.7% premium) and strategic agreement. (Cancelled in
October 2008).
August 2008 – JOGMEC signs agreement with Yankee Hat Minerals to explore for
tungsten in the NWT and Yukon.
February 2009 – Sandvik reaches agreement to acquire Wolfram Bergbau- und
Hutten-GmbH Nfg. KG (WBH), an Austrian producer and supplier of tungsten
products.
11
12. Conclusions
Relatively low profile.
Strategic metal with no substitutes.
Supply has proved to be relatively inelastic to commodity price movement so prices
likely to remain strong.
Paucity of “pure play” publicly listed companies.
Western capital and credit markets scarce but developing market strategic liquidity
intact:
27-Feb-09: JAURD & ITOCHU announce US$49MM for 35% of Mega Uranium’s Lake
Maitland uranium deposit.
16-Feb-09: China Minmetals makes all cash offer for Oz Minerals (Cu, Zn).
12-Feb-09: Aluminium Corporation of China announced $19.5BN strategic partnership with
Rio Tinto.
10-Feb-09: Tokyo Electric Power Company, Toshiba and Japan Bank of International
Cooperation make C$270MM private placement in Uranium One (at 15% premium to
VWAP20).
20-Feb-09: Sociedad Punta del Cobre S.A. purchases 51% of Explorator’s Chilean Cu±Au
projects for US$17MM.
24-Dec-08: Mitsui busy 49% of Uranium One’s Honeymoon uranium deposit and Australian
exploration portfolio for A$104MM.
30-Oct-08: Industrial Corporation of South Africa provides US$89 commitment for Nevsun’s
Bisha Au/Cu-Zn project.
12
13. Key Takeaway – Equity Valuations are at Historic Lows
“We simply attempt to be fearful when others are
greedy and to be greedy only when others are
fearful”
Warren Buffet
13
14. PRESENTATION BY
CHRIS THOMPSON
MINING ANALYST
HAYWOOD SECURITIES INC
15. Tungsten – A Bright Future?
Browse
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4840-184
Chris Thompson
Mining Analyst
Haywood Securities Inc
16. Tungsten – Investment Highlights
Four Key Topics to Discuss
1. Unique physical properties
2. Supply and demand
3. Price and Haywood’s long-term price forecast
4. Industry challenges
17. Tungsten – Recent Developments
Tungsten in the News
China - The Major Determinant of Tungsten’s Near-term Future
• “We still have no idea how weak or strong actual demand will be in the context of the
overall gloomy global economy,” a trader in Beijing said. “There is a chance that prices
will slip down when output picks up in China,” the trader added. With more than 90% of the
world’s tungsten coming from China, some market participants expect prices to retreat
once Chinese producers return after the New Year holiday. (Metals Bulletin, January 26,
2009)
• With more than 90% of the world’s tungsten coming from China, some market participants
expect prices to retreat once Chinese producers return after the New Year holiday.
“Tungsten is almost completely dependent on China,” said another trader. “The price
could come back down after the holiday.”
Nui Phao – The West’s Near-term hope for Non-Chinese Tungsten Supply
• Flagship projects torpedoed - Nui Phao - delay mining until 2010, two years later than
the venture’s committed mining schedule. An increase in mineral export taxes to 20 %
and hikes of royalty taxes to a 5-10 % range negatively affect the venture’s mining
prospects. (VietNamNet Bridge, January 2, 2009)
M & A – Not dead Yet
• Sandvik buys Austrian tungsten producer (tungsten) (Business Wire, February 17,
2009)
18. Physical Properties:
Unique Physical Properties – What makes Tungsten Special?
Highest melting point of all elements except carbon
Lowest expansion coefficient of all metals
Hardest of all metals
Superior heaviness among metals
High thermal and electrical conductivity
The manufacture of Hardmetals - the most important use of tungsten (40 -60%
of world consumption) - tungsten carbide
The manufacture of Steels/Alloys - the second important use of tungsten (20 -
40% of world consumption) - high-speed steels
NB: Tungsten’s unique physical properties reinforces its
importance in many industrial applications
19. Tungsten Supply / Demand:
Dominated by China!
Source: U.S. Geological Survey, 2007
China Responsible for 75% of World Tungsten Supply
China – A Net Importer of Tungsten
Western World Responsible for 25% of World Tungsten Supply
Canada – Responsible for 5% of World Supply – NA Tungsten’s Cantung Mine
55,000 t (5.5 million mtu) of primary tungsten metal (W) - equivalent to 70,000 t (7
million mtu) of tungsten trioxide, WO3 (79.3% W) (100 mtu = 1 tonne)
20. Tungsten Supply / Demand:
Western world supply – a trickle!
Ticker Company Ownership Project Location Type Development Commodities Potential Production
13,000 t (1.3 M Stage
mtu) WO3 ASX: QOL Queensland Ore 85% Wolfram Camp Australia OP Commissioning Tung/Moly Before 2010
Near Term
ASX: THR Thor Mining 100% Molyhil Australia OP Feasibility Tung/Moly Before 2010
Pre-Feasibility
AIM: IEW Ormonde Mining 90% Barruecopardo Spain UG Tung Before 2010
Producers ????
A
Feasibility
ASX: VML Vital Metals 100% Watershed Australia OP Tung Before 2010
PermittingB
ASX: KIS King Island Scheelite 50% King Island Australia OP Tung After 2010
60,000 t (6 TSX: GWY Galway Resources 100% Victorio USA UG Scoping Study Tung/Moly After 2010
M mtu) Medium Term
PermittingC
- Dragon Capital 78% Nui Phao Vietnam OP Tung/Bi/Flu After 2010
1 D
WO3 Producers
Mactung Feasibility
TSXV: NTC North American Tung 100% Canada UG Tung After 2010
2 E
Sangdong Scoping Study
TSXV: OTL Oriental Minerals 100% S Korea OP Tung/Moly After 2010
3 F
Northern Dancer Feasibility
TSXV: LGO Largo Resources 100% Canada OP Tung/Moly After 2010
4 G
Sisson Brook Pre-Feasibility
TSXV: GXM Geodex Minerals 100% Canada OP Tung/Moly/Cu After 2010
ASX: PDM Paradigm Metals 100% White Rock Australia - - Tung/Tin ?
? t WO3 TSXV: PLY Playfair Mining 100% Grey River Canada UG Scoping Study Tung ?
Wildcards
ASX: WLF Wolf Minerals 100% Hemerdon UK - Feasibility Tung/Tin ?
TSX: GP Golden Predator Mines 100% Springer USA OP Permitting Tung/Moly/Au ?
ASX: III Icon Resources 100% Mt Carbine Australia - - Tung ?
Notes* Historical Resources
1
Haywood estimates for Mactung - Feasibility Study expected in Q408
2
Scoping Study for Sangdong expected in Q408
3
Scoping Study for Northern Dancer expected in Q408
4
Scoping Study for Sisson Brook expected in Q408
A
Final Feasibility for Watershed expected in Q4/08
B
Waiting for mining lease - awaiting payment of rehabilitation bond monies - Construction expected in Q308
C
Renegotiating engineering, procurement and construction management contracts - development strategy,
schedule and capital cost estimate expected shortly
D
Feasibility for Mactung is expected in Q4/08
E
Scoping Study for Sangdong is expected by Q4/08
F
Feasibility for Northern Dancer is expected in Q4/08
G
Pre-Feasibility for Sisson Brook is expected in Q4/08
21. Tungsten Price – The Basics:
What’s an mtu?
Tungsten is typically priced according to metric ton units (mtu) of intermediate
product ammonium paratungstate (APT). An mtu equals 10 kilograms or 22.04
pounds
APT and concentrate prices are based mainly on quotations published twice a
week by London’s Metal Bulletin
The average annual price of APT since 1950 has fluctuated between US$10
per mtu in 1963 and a peak of more than US$300 per mtu in 2004
The recent run up in APT prices began in 2004, driven by rapidly increasing
demand from China
The current price level for APT is US$220 down from US$250 per mtu (-12%)
(European free market)
22. Tungsten Supply and Demand:
2009–2013 Fundamentals remain tight!
Assumptions:
Tungsten Projected Supply and Demand
•2007 global consumption of
tungsten: Approx 6.9 M mtu WO3 Demand exceeds supply (without Nui Phao)
12.0
Millions
• Chinese supply remains stable USGS New production
11.0 Growth in
2007 World to 2010
at approx 5.1 M mtu / a (75%) ?? Consumption
Production 1.3 M mtu WO3
10.0 5%?
6.9 M mtu
• Western World supply growing
Tungsten (mtu)
WO3
9.0
by 1.3 M mtu to 2010 (Australia,
Spain, USA) ?? 8.0
• No Production from Nui Phao 7.0
(2010) 6.0
• No Production from Mactung 5.0
(2013) 2007 2008 2009 2010 2011 2012 2013
Projected Supply Projected Demand @ 3% Grow th
• 5% Growth in consumption
Projected Demand @ 5% Grow th (Base) Projected Demand @ 8% Grow th
Forecast:
• Demand exceeds supply after Source: Haywood Securities Inc
Nui Phao Mactung
2011 commences commences
Production Production
0.48 M mtu WO3? 0.8 M mtu WO3?
24. Tungsten Price - Stability:
12 month Price Performance: - 6%
US$220 / mtu
– a lot better
than Cu, Zn &
Ni price
performance
over the last 2
years
Source: Haywood Securities Inc
25. Tungsten Price – Support
Do we see an underpinning of the tungsten price at or near current levels?
Yes – For two key reasons
Potential near-term tungsten primary producers face economic uncertainty and
a credit crisis (difficulty in raising project financing) = Limited New Production
Suspension of Chinese tungsten production to support current prices
Potentially good for the tungsten price
Still a tough time for mine builders – in current credit markets
26. Project Funding Crisis:
JV involvement – Now a necessity! (Snap Shot to Sept 08)
• Large Capex Projects 125%
115%
(US$300 M plus)
105%
95%
• Credit Crisis – lack of 85%
75%
debt / equity avenues
65%
for raising capital 55%
45%
35%
25%
1/1/2008 3/1/2008 5/1/2008 7/1/2008 9/1/2008
Tungsten Equity Index Tungsten Commodity
Involvement of JV
partners to help
finance projects now a * Tungsten equity index is value-weighted using the following companies: North American
Tungsten (NTC-V); Oriental Minerals (OTL-V); Largo Minerals (LGO-V); Geodex Minerals
necessity (GXM-V); King Island Scheelite (KIS-AU); and Vital Metals (VIT-AU).
Source: Haywood Securities Inc
27. Tungsten Project Pipeline for the West:
Eyes on 4 projects at feasibility level!
Ticker Company Ownership Project Location Type Development Commodities Total Resource Grade WO3
Stage (M Tonnes) (%WO3) (M mtu)
Mactung1 FeasibilityD
TSXV: NTC North American Tung 100% Canada UG Tung 21.9 1.08% 23.65
Sangdong2 Scoping StudyE
TSXV: OTL Oriental Minerals 100% S Korea OP Tung/Moly 80.4 0.29% 23.32
Northern Dancer3 FeasibilityF
TSXV: LGO Largo Resources 100% Canada OP Tung/Moly 162.0 0.13% 21.06
Sisson Brook4 Pre-FeasibilityG
TSXV: GXM Geodex Minerals 100% Canada OP Tung/Moly/Cu 158.2 0.08% 13.13
1
Haywood estimates for Mactung - Feasibility Study expected in Q408
2
Scoping Study for Sangdong expected in Q408
3
Scoping Study for Northern Dancer expected in Q408
4
Scoping Study for Sisson Brook expected in Q408
Mactung: Announced Last Week!
D
Feasibility for Mactung is expected in Q4/08
E
Scoping Study for Sangdong is expected by Q4/08
F
Feasibility for Northern Dancer is expected in Q4/08
Sangdong:Delayed!
G
Pre-Feasibility for Sisson Brook is expected in Q4/08
80 million mtu or 15
Northern Dancer: Delayed!
years of today’s
Source: Haywood Securities Inc
Sisson Brook: Delayed! World supply
28. Conclusions
Opportunities
Robust Fundamentals
Fundamentals:
Tungsten’s supply / demand fundamentals are robust and
supportive of a high long term APT price (US$250 / mtu) for the
metal
Limited Western World Supply:
Western world future supply looks desperately thin and is
limited to a limited number of significant projects
29. Conclusions
Catalysts – What are we looking for?
Market Fundamentals - Clarity Needed
The Chinese New Year - “We still have no idea how weak or strong
actual demand will be in the context of the overall gloomy global
economy,” a trader in Beijing said
Challenging Credit Markets Requires Funding Alternatives:
Alternative funding facilities need to be pursued to finance new
Western world supply in the face of the current credit crisis
30. PRESENTATION BY
STEPHEN LEAHY
CHAIRMAN & CEO
NORTH AMERICAN TUNGSTEN LTD
31. 1
A WORLD CLASS TUNGSTEN COMPANY
the tungsten mining company
FORWARD-LOOKING STATEMENTS
In this presentation North American Tungsten Corporation Ltd. (“NTC” or the “Corporation”) makes forward-looking statements that include, without limitation, statements regarding its future
financial position, operating results and business strategies. These forward-looking statements are based upon assumptions and are subject to risks and uncertainties including, without limitation,
prevailing commodity prices, energy costs, general economic factors, government policies and the development of new technologies. Although NTC believes that the assumptions represented in
such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct.
TSX VENTURE EXCHANGE: NTC
CURRENCY and EXCHANGE RATES
All figures contained herein are expressed in Canadian dollars unless expressly stated otherwise.
32. 2
A WORLD CLASS TUNGSTEN COMPANY
Property Locations
Mactung Deposit
Cantung Mine
TSX VENTURE EXCHANGE: NTC
33. 3
A WORLD CLASS TUNGSTEN COMPANY
Mactung, A World Class Asset – The Solution?
• There are very few sizable tungsten deposits in the development
pipeline.
• Discovery of new large deposits will not increase near term supply
due to long lead times to production.
• Mactung – A Supply Solution?
– A strategic asset due to its size, grade, and location.
– Located in Canada, a politically stable country with transparent mining
and ownership laws
– significant source of future tungsten supply
TSX VENTURE EXCHANGE: NTC
34. 4
A WORLD CLASS TUNGSTEN COMPANY
Mactung- A Feasible Project
• Largest known high grade undeveloped tungsten skarn deposit in
the world.
– NI 43-101 compliant (March 2007): 33 M tons grading @ 0.88%
WO3 (indicated resources) & of 11.3 M tons grading @ 0.78%
(inferred resources)
• Positive Bankable feasibility (“BFS”) completed with possible mine
start up in 3-4 years.
• 23.5% Internal Rate of Return and a pre-tax Net Present Value of
CDN$277 million discounted at 8%.
• The BFS is based on an initial 2,000 tpd underground mine with an
11 year Life of Mine (“LOM”)
TSX VENTURE EXCHANGE: NTC
35. 5
A WORLD CLASS TUNGSTEN COMPANY
Mactung- A Feasible Project
• Potential to expand the initial LOM by another 17 years with lower grade
open pit
• Annual average production forecast ~ 752,000 MTU’s WO3 for first 5
years of operation
• Average operating cost (1st 5 years) ~ CDN$104/MTU
• CAPEX: CDN$356.5 million plus CDN$45.6 million contingency
• Capital payback is expected within 2.9 years.
TSX VENTURE EXCHANGE: NTC
36. 6
A WORLD CLASS TUNGSTEN COMPANY
Cantung/Mactung
TSX VENTURE EXCHANGE: NTC
37. 7
A WORLD CLASS TUNGSTEN COMPANY
Cantung-A Producing Mine
• Excellent infrastructure with a long production history 1962-1986;
restarted in 2005.
• Largest tungsten producer in the Western World, currently producing
~4% of the world’s tungsten.
• Deposits consist of O/P resource near surface &U/G E-Zone reserve.
Zone Tons Grade (WO3%) STU’S
655,706 1.10 721,492
TOTAL Probable Reserves
961,677 1.23 1,181,156
TOTAL Indicated Reserves
Pit-PUG Total 468,606 1.3 609,188
Grand Total 1,430,283 1.25 1,790,344
As of Sep’08 TSX VENTURE EXCHANGE: NTC
38. Cross Section 190,570 East (236+00 Geological)
4.04%WO/3.6 ft.
A WORLD CLASS TUNGSTEN COMPANY
2.78% WO3/14.6 ft. 1.93% WO3/18.7 ft.
Limestone
Current
6.09% WO3/5.10 ft.
(Marble) Mining
3700
Drift
2.61% W03/18.5t. 3700
3700
Drift
Drift
2.71% WO3/18.5ft.
3.47% WO3/30.0 ft.
Skarn
Granite
U1306
Argillite U1305
“Swiss
Cheese”
Limestone
U1315
U1310 U1300 9.20% WO3/2.6ft.
U1309 U1307
U1308 0.33% WO3/7.2ft.
TSX VENTURE EXCHANGE: NTC
200 ft
39. 9
A WORLD CLASS TUNGSTEN COMPANY
JV – Tundra Diversified Industries (TDI)
• 3 partners:
– Tundra Particle Technologies, LLC, Minnesota, 43.2% interest;
– North American Tungsten’s own 43.2% interest;
– Queenwood Capital Partners LLC, Minnesota, 13.6% interest
• Entering into a supply agreement with Fiocchi Ammunition to sell
TUNDRATM tungsten-polymer composite.
• TDI and Fiocchi intend to initiate the manufacture and sale of
TUNDRATM tungsten-polymer composites into the ballistics
marketplace in the 1st quarter of 2009
TSX VENTURE EXCHANGE: NTC
40. 10
A WORLD CLASS TUNGSTEN COMPANY
JV – Tundra Diversified Industries (TDI)
• Unique refinement technology focus for producing APT from low
grade concentrates
• New processing technology for refining WO3 concentrates into APT
W blue oxide, W power and W composites
• Developing new W composite products, replacing lead consumer
products i.e.: fishing weights, wheel balancing weights, ballistics, x-
ray shielding, etc
• Government derived tax incentives for building businesses and
creating employment in northern Minnesota
TSX VENTURE EXCHANGE: NTC
41. 11
A WORLD CLASS TUNGSTEN COMPANY
2008-2009 Company Milestones
• February, 2009: Mactung Feasibility Study released
• December, 2008: Updated Cantung Mineral Reserves
• October, 2008: Sign Strategic supply agreement with Global Tungsten &
Powders Corp.
• June, 2008: Ranked number 8 in the mining sector of the ‘2008 TSX
Venture 50”
• June & January, 2008/December, 2007: High Grade Drill Results at
Cantung
TSX VENTURE EXCHANGE: NTC
42. 12
A WORLD CLASS TUNGSTEN COMPANY
Capital Structure
TSX-V NTC
I/O 126,826,725
Options 8,315,034
Warrants 250,200 @ $1.20
Fully Diluted 135,141,759
52-week high/low C$1.45/0.10
TSX VENTURE EXCHANGE: NTC
43. 13
A WORLD CLASS TUNGSTEN COMPANY
Executives & Board of Directors
• Stephen Leahy, Chairman & Chief Executive Officer
• Britt Reid, Chief Operating Officer
• Harold Schwenk, Chief Financial Officer
• Wade Stogran, VP Environmental & Corporate Affairs
• Christina Scott, Director & Corporate Secretary
• Wayne Lenton, Director
• Bryce Porter, Director
• John Kalmet, Director
• Allan Krasnick, Director
• Ron Erikson, Director
TSX VENTURE EXCHANGE: NTC
44. PRESENTATION BY
JACK MARR
V.P. EXPLORATION
GEODEX MINERALS LTD
46. Management & Directors
Jack M. Maris President, Director
Jack M. Marr V.P. Exploration, Director
Jack Patterson Director
Neil D. Humphreys Chief Geologist, Director
Clem Pelletier Director
David M. Buckle Director
Contact Information Neil S. Seldon Director
Head Office
Suite 450-800 West Pender Street
Blaine Bailey Chief Financial Officer
Vancouver, BC V6P 4T8
David Martin Regional Manager New Brunswick
PH: 604.689.7771
FAX: 6004.689.5528
E: info@geodexminerals.com
Toll Free: 888.999.3500
V.P. Business Development
Christopher R. Anderson
New Brunswick
150 Woodside Lane Advisory Board
Fredericton, NB E3B 7B3
David Sinclair Ph.D
PH: 506.450.4488
William Gardiner M.Sc.
FAX: 506.450.4422
Raymond Dujardin, P.Eng.
47. SHARE STRUCTURE
JANUARY 2009
SHARES OUTSTANDING 87,453,349
87,453,
FULLY DILUTED 100,866,
100,866,637
CASH ON HAND
General Account $1,003,000
003,
Flow Through Account $1,729,000
729,
52 Week High-Low: $0.12 - $1.37
High-Low:
48. TUNGSTEN DATA
A Unique Metal
Highest Melting Point
Hardest of all metals Geodex to supply
Lowest Expansion Coefficient approx 3% of world
High Thermal and Electrical Conductivity supply by Mine
Start-
Start-up in 2012
Uses
Hardmetal’ (tungsten carbide). Drilling and Cutting Tools (40% to 60%)
Steel Alloys and High Speed Steels (20% to 40%)
Mill Products, Electrodes, Chemicals, Jewelry
Environmental replacement of Lead products
49. Assume China supply remains stable.
The most important deposits Nui Phao
and Mactung in production before 2013
Projected demand beyond 2013 at 3% and 5%
173.000
161.800
5%
141.400
Tonnes W
Uncertain Production
Nui Phao
Mactung Sisson Brook
by 2013 3% world
production
2013
Source: BRGM 2007, Haywood Securities 2008
50. POSITIONED FOR DISCOVERY
IN NEW BRUNSWICK
2 Main Project Areas
Sisson Brook
Bulk tonnage (W, Mo, Cu) to
pre-feasibility by
Q4 - 2009
Mount Pleasant West
Drilling Stage exploration around old
Mount Pleasant mine
8 quality targets drilled in 2007/2008
51. SISSON BROOK W-MO DEPOSIT
W-
497 Claims (orig. 141)
Located within one hour
drive of City of Fredericton,
provincial capital
of New Brunswick
Hydro line crosses
the property
Provincial highway and rail
line immediately north
of the property
Area previously logged with
excellent road network
One of the most accessible tungsten deposits in North America
52. SISSON BROOK PROJECT
Tungsten - Molybdenum
Zone I
Zone III 2008 Resource Model
WO3 Eq. M&I %WO3 %Mo
Zone II
0.075 175.2 0.073 0.025
41,000 m of drilling carried
0.125 102.8 0.088 0.033
out since 2005
June 2008, new resource
model upgrading Zone III
Zone III
resource to ‘Measured and
Indicated’
Plant #1
Full 2008 program of
drilling, geotechnical and
East Flank
Ellipse
Powerline
environmental
Pre-
Pre-feasibility report
2008 Exploration Zone III Southern
Q4 2009
Extension
Areas
Diorite
Zones I and II are copper
Southern
and tungsten
Gabbro Cu-
Cu-W
53. SISSON BROOK LEVEL PLAN ZONE III
175 m ELEVATION
Higher Grade
“Core” Zone
150 mill tonnes
potential
WO3 Equiv. %
55. SCOPING STUDY FEBRUARY 2009
Production
Method Open Pit
Mine Life 20 Years
• Pre – Concentration
• Conventional Milling
Processing
• Gravity/Flotation
Recoveries WO3 Mo
Pre - Sorting 96% 84%
74%
Overall 70%
Operating Cost $ CDN Per Tonne $ US Per Tonne
Mine 1.30 1.11
Plant 4.06 3.96
G&A 0.66 0.56
56. SCOPING STUDY FEBRUARY 2009
Capital Cost $ US
Includes 30% Contingency 341 Million
Price Assumptions Unit Offsite
WO3 $US 220 / mtu - 23%
Mo $US 15.00 / mtu - 8%
Financial
23%
IRR (from year – 2)
discount)
NPV (8% discount) $US 372 mill
(10% discount) $US 277 mil
57. DISCLAIMER
This presentation by Geodex Minerals Ltd. (the “Company”)
contains forward-looking statements, including, in particular,
statements about the Company’s plans, strategies and
prospects. These statements have been based on the
Company’s current assumptions, expectations and projections
about future events. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, the Company can give no assurance that these
expectations will prove to be correct or that results anticipated
in the forward-looking statements will be achieved. These
forward-looking statements include risks and
uncertainties. These risks and uncertainties include, among
other things, market conditions, industry uncertainty and other
factors.
59. TSX.V - PLY Playfair Mining Ltd.
Investing in Tungsten’s Worldwide Resurgence Mar. 3rd 2009
59
60. TSX.V - PLY Playfair Mining Ltd.
Playfair’s Strategy
Become one of the world's principal developers of
new high-grade tungsten resources.
high-
Capitalize on recent and future changes in the
world tungsten market.
Develop relationships with strategic investors who
believe in the fundamentals of tungsten
Enter into strategic partnerships with investors
looking to finance either Playfair or it’s individual
projects
60
61. TSX.V - PLY Playfair Mining Ltd.
New Demand and a Resurgence in
World Markets
Increasing demand, supply restrictions from China
Currently no economically viable substitutes for many
critical uses
Ongoing new applications in technology,
manufacturing, industry, recreation
Ore reserves of operating mines being depleted
Dramatic shortage of supplies outside of China (ROW)
61
62. TSX.V - PLY Playfair Mining Ltd.
Tungsten: The China Factor
FOR DECADES, CHINA HAS:
Dominated the World tungsten market
Provided 85% of the world’s primary tungsten
RECENTLY, CHINA HAS:
Become the world’s largest tungsten consumer
Removed incentives for tungsten export
Prohibited FDI in Tungsten mining and processing
Begun importing tungsten
62
63. TSX.V - PLY Playfair Mining Ltd.
Commodity Supercycle – New Era
in Metal Pricing
5-Year Metal Chart
Prices have more than Uranium
$135
tripled since 2004 50
Sustained levels above
40
US$10/lb.
US$ per lb.
(US$200/MTU) 30 Molybdenum
China imposes export 20
restrictions in 2005 Tungsten $12
10
Demand exceeded Nickel
Copper
supply in 2005, per
June 02
May 05
Nov 02
Sep 03
Feb 04
Dec 04
Mar 06
Aug 06
Jan 07
Apr 03
Oct 05
Jul 04
Jun 07
Roskill
63
65. TSX.V - PLY Playfair Mining Ltd.
Supply/Demand Forecast to 2010
(Primary) (Virgin) W Concentrate
Tonnes - Roskill Supply/Demand Scenario
90,000
80,000
Roskill (Tonnes)
70,000
2005 2010 Supply ?
Deficit
Supply Supply
60,000 ? R.O.W.
Deficit W
Prod.
China 47,000 49,400 O
R.O.W.
50,000 R
Prod.
W L
ROW 8,759 15,984 O C D
C
H
40,000 R
H
I
I L
55,759 65,384 D
N
D
N
A E
A
30,000 P M
P D R A
R E O N
O
Demand (@ 3%pa) 60,550 68,250 M D D
D
20,000 U
A
U
N C
C T
D
T
Surplus (Deficit) (4,791) (2,866) I
10,000 I
O
O
N
N
0
2005 2010
65
66. TSX.V - PLY Playfair Mining Ltd.
Playfair Scenario
Tonnes - Playfair Supply/Demand Scenario
90,000
Supply
80,000
2005 2010
Deficit ?
Demand W
17,400
70,000 O
R
tonnes
China (@ 10% pa) 23,150 37,300 L
Supply
60,000 D
?
ROW (@ 4% pa) 37,400 45,500 W R.O.W.
Deficit D
O Prod. E
R
R.O.W.
50,000 M
L
Prod.
Total (@ 7% pa) 60,550 82,200 A
D
N
C C
D D
40,000 H H
E
I I
M
N N
Surplus (Deficit) @ 7% (4,791) (17,416) A
A A
30,000 N
P P
R D R D
C E
O O H
M
D D
20,000 I
D A
U U
C N
E N
C C
H A
M D
T I T
A
10,000 I I
N N
O A O
D
N N
0
2005 2010
66
67. TSX.V - PLY Playfair Mining Ltd.
Let’s be Early
Shortage of Tungsten outside of China (ROW)
could approach 17,400 tonnes by 2010.
Other dramatic commodity price moves:
copper, nickel, molybdenum, uranium, zinc
Effect on tungsten price? We expect major moves.
Near-
Near-term production will allow Playfair to take
direct advantage of higher moving Tungsten prices
67
69. TSX.V - PLY Playfair Mining Ltd.
Playfair at a Glance
Pure tungsten play
Key priorities:
1) progress the Grey River Deposit into production
2) confirm & expand the advanced Risby Deposit
Combined historical and NI 43-101 Compliant resources of more than
43-
100 million lbs. of contained tungsten (~5 million MTUs)
Recent drilling at Risby brings resource likely over 100 million pounds
Potential for material expansion of resources on all projects
Managed by a team of highly experienced exploration and
development professionals
69
70. TSX.V - PLY Playfair Mining Ltd.
Our Strategy
Capitalize on favourable Tungsten economics, and a strong
outlook for tungsten pricing
Develop the Grey River Deposit into the world’s next tungsten
producer outside of China
Further expand the already large Risby Deposit to provide further
upside leverage to the price of tungsten for shareholders
Continue to generate and drill early stage but highly-prospective
highly-
properties such as the Granite Lake property to give investors the
upside potential associated with early-stage exploration
early-
70
71. TSX.V - PLY Playfair Mining Ltd.
Playfair’s Canadian Tungsten Projects
Grey River, Newfoundland
River,
Granite Lake, Newfoundland
Lake,
Risby, Yukon Territory
Risby,
Clea, Yukon Territory
Clea,
Lened, NW Territories
Lened,
71
73. TSX.V - PLY Playfair Mining Ltd.
Grey River Project
RECENT PROGRESS
Scoping Study complete
Bulk sampling complete
Metallurgical test work
Advanced to NI 43-101 resource
43-
Progressing Towards Production
quot;The Grey River Deposit is one of the largest typical wolframite deposits in
Canada.quot; Mulligan, Geological Survey of Canada in 1984 describing the Tungsten
Deposit at Grey River.
73
74. TSX.V - PLY Playfair Mining Ltd.
Grey River Project
Early development project
852,000 tonnes grading 0.86% WO3*
NI 43-101 compliant (June 2007)
43-
2008 drilling expanded mineral resource below
adit
Actual in place non-diluted grade of the vein in
the raises would be approximately 1.4% WO3
Significant potential for additional tungsten
reserves, both in high grade veins, and lower
grade bulk tonnage deposits
Adjacent to fishing village of Grey River, south
coast of Newfoundland
*Wolframite, a black-to-grey or brown primary ore of tungsten
74
76. TSX.V - PLY Playfair Mining Ltd.
Risby 2008 Drill Program
Deposit expanded with 220 meter step out
holes, further adding to the resource
Step out holes provide confidence that
deposit has potential to be expanded even
further.
Estimates of tungsten resources are historical in nature, predate and are noncompliant with
NI 43-101. Playfair is not treating the historical estimate as current mineral resources or
reserves. Playfair has not undertaken any independent investigation of the resource
estimates nor has independently analyzed the results of the previous exploration work in
order to verify the resources, and therefore the historical estimates should not be relied
upon. However, Playfair believes that these historical estimates provide a conceptual
indication of the potential of the occurrences and are relevant to ongoing exploration.
76
77. TSX.V - PLY Playfair Mining Ltd.
Why Tungsten? Why Playfair?
Pure high-grade tungsten play
high-
Highly experienced management team/board with a history
of mining discoveries and development
Risby deposit a potential company-maker
company-
Grey River on fast track to reportable tungsten resources.
Boasts established infrastructure with strong local presence
and support
Price participation in dynamic tungsten market
77
78. PRESENTATION BY
DAVID COFFIN
EDITOR, HRA PUBLICATIONS
WWW.HRAADVISORY.COM
80. PROGRESS REPORT ON MOUNT
PLEASANT:
PATHWAY TO TUNGSTEN PRODUCTION
Talking Tungsten
March 3, 2009
81. Forward-Looking Statements
Certain statements in this Presentation may constitute “forward-looking” statements which involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements
of the Corporation, or the industry in which it operates, to be materially different from any future results,
performance or achievements expressed or implied by such forward looking statements. When used in this
Presentation, such statements use words such as “may”, “will”, “expect”, “believe”, “plan” and other similar
terminology. These statements reflect management’s current expectations regarding future events and operating
performance and speak only as of the date of this Presentation. These forward-looking statements involve a
number of risks and uncertainties, including those related to: (i) the Corporation’s limited operating history; (ii) the
nature of the Corporation’s business being highly speculative; (iii) substantial additional expenditures being
required to establish either resources or reserves on mineral properties; (iv) barriers to commercial production; (vi)
requirements for additional capital; (vii) fluctuations in commodity prices and exchange rates; (viii) dependence on
key officers, consultants and employees; (ix) potential defects in title to the Corporation’s properties; (x)
maintaining the Corporation’s interests in its properties; (xi) external market factors; (xii) governmental and
regulatory requirements; (xiii) environmental regulations; (xiv) conflicts of interest; (xv) uninsured risks; (xvi)
competition to acquire additional properties; (xvii) lack of dividends; and (xviii) the absence of a public market for
the Common Shares.
New risk factors may arise from time to time and it is not possible for management of the Corporation to predict all
of those risk factors or the extent to which any factor or combination of factors may cause actual results,
performance or achievements of the Corporation to be materially different from those contained in forward-looking
statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking
statements as a prediction of actual results. Although the forward-looking statements contained in this
Presentation are based upon what management believes to be reasonable assumptions, the Corporation cannot
assure investors that actual results will be consistent with these forward-looking statements. These forward-looking
statements are made as of the date of this Presentation, and the Corporation assumes no obligations to update or
revise them to reflect new events or circumstances.
81
82. Additional Cautionary Language
Fire Tower Zone
Currently, there is a NI 43-101 compliant inferred resource of 13,074,438 tonnes at 0.35% WO3 and 0.21% MoS2
at the FTZ as outlined in the NI 43-101-compliant Technical Review of the Mount Pleasant Property,
Including a Mineral Resource Estimate for the Fire Tower Zone Southwestern New Brunswick
dated August 1, 2006 completed by Paul Dunbar, M.Sc., P.Geo., Senior Associate Geologist,
Andrew Hara, P.Eng., Senior Associate Mining Engineer, Robert de l’Etoile, M.Sc., P.Eng.,
Senior Associate Engineer, Dorota A. El-Rassi, M.Sc., P.Eng., Geological Engineer of WGML and
Dr. Trevor Boyd, Ph.D., P.Geo., Independent Consultant, which is available at www.sedar.com.
An updated NI 43-101 compliant report , dated December 1, 2008, is now available on www.sedar.com.
North Zone
There is an historical non-NI 43-101 compliant total “resource” of 3,645,429 tonnes of 0.80% Sn, 107 parts
per million Indium, 0.87% Zn and 0.19 % Cu at the NZ, based upon a 1997 feasibility study completed by
Kvaerner Metals Davy Ltd. These historic estimates were prepared prior to the implementation of NI 43-101.
A qualified person has not done sufficient work to classify these historical estimates according to NI 43-101
standards or the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards and Adex is
not treating these historical estimates as current mineral resources as defined in NI 43-101.
They are presented because Adex considers them to be relevant and of historic significance.
These historical estimates should not be relied on.
Qualified Person
The Mount Pleasant exploration program is being conducted under the direction of Trevor Boyd, P.Geo.,
the Company’s independent Geological Consultant and a qualified person as defined by NI 43-101.
Mr. Boyd supervised the preparation of the technical information contained in this presentation
in compliance with NI 43-101.
82
83. The Mount Pleasant Mine Property
Poly-Metallic Mine Property located in New Brunswick,
Canada (Tungsten, Molybdenum, Tin and Indium)
BHP Billiton owned and operated the Property in the
1980s (mining operations suspended in July 1985)
Milled approximately 1 million tonnes of tungsten ore between
1983 to 1985
ADEX acquired the Property in 1995
Two Deposit Zones – hosting 4 primary metals
Fire Tower Zone – Tungsten-Molybdenum
North Zone – Tin and Indium deposit, with presence
of Copper and Zinc
83
84. Long Term Demand for Tungsten
Although Mount Pleasant is a poly-metallic project - this presentation
will focus on the Tungsten-Molybdenum Fire Tower Zone
Demand for tungsten-molybdenum in response to long-term
infrastructure development needs in China, India, Brazil, Russia, and
the Middle East
Current market volatility has resulted in some pullback, but
international infrastructure stimulus packages (Canada, China, India,
U.S.) should revive metal prices
Tungsten (WO3) – US $7.91/lb (US $17,435/t)
Molybdenum – US $9.25 to 9.75/lb
Source: Northern Miner – Jan. 13, 2009
84
86. Mount Pleasant Deposits
North Zone
Operating
Tungsten Mine
Dec’82-Jul’85
FTZ: NI 43-101 Indicated Resource of 13.5 million tonnes of tungsten/molybdenum
NZ: Historical resource of 3.7 million tonnes of tin/indium
86
87. Development Schedule
Adex has made significant progress in advancing the FTZ since revival of Mount
Pleasant in July 2007
July 2007- -$12.5 million gross re-capitalization and listing of Dec 2007:
Adex on the TSX Venture Exchange
-Obtained Approval to Operate to carry out drill,
metallurgical programs
-Completed 13,300 meter Drill Program on both FTZ and NZ
2008:
-completed updated NI 43-101 compliant Indicated mineral resource
estimates for Fire Tower Zone
- FTZ Scoping Study completed and now laying groundwork
for Definitive Feasibility Study (DFS)
-initial metallurgical test work completed to define flow sheet for
tungsten-molybdenum recovery
-Move forward on DFS for the FTZ, dewatering, regulatory
2009:
approvals, production decision and mine development, subject to
improvement in market conditions and revival in global demand for
metals
87
88. Experienced Management Team to Drive Development
Forward
Kabir Ahmed, President, CEO & Director
MBA, LLB
Over 10 years of experience as a securities lawyer with an
extensive background in the mining sector
Involved as an officer and director of a number of successful
publicly-traded mineral exploration and mining companies since
2003
J. Errol Farr, Chief Financial Officer & Director
Certified Management Accountant (CMA)
Over 10 years of experience with numerous publicly-listed junior
mining companies
Will C. Burton, Controller
Chartered Accountant
Experienced in the financial management of public resource
companies
88
89. Technical Team
Victor Hendricken, Mount Pleasant Operations Manager
Coordinates all operational activities at Mount Pleasant and provides
metallurgical and hydrometallurgical expertise
Over 25 years in the operation of a mine and milling plan
Formerly served as the mill general foreman for Mount Pleasant 1984-85
Formerly served as technical consultant to the Beaver Brook Antimony
Mine in NFLD
Dr. Trevor Boyd, Ph.D., P.Geo., Project Manager for Exploration & Drilling
Professional Geologist and QP leading Company’s definition and
exploration drilling programs at Mount Pleasant
J. Dean Thibault, M.Sc., P.Eng., Project Manager for Metallurgy &
Environmental Planning
Senior Process Chemical Engineer leading Company’s Metallurgical and
Environmental Planning Programs at Mount Pleasant
Bill Burton, B.Sc. (Geology), Director & Technical Advisor
Former CEO of ADEX
CEO & Director of MagIndustries Corp. (TSX-V:MAA)
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90. 2008 – Definition and Expansion Drill Program
Completed a 13,300 meter confirmation and
exploratory diamond drill program at both the FTZ
and NZ
Designed to expand the size of the mineral
resource estimates at the FTZ and to upgrade to
NI 43-101 compliant “Indicated” Status
Fresh core for metallurgical test-work and for
optimization of metal recovery circuits
Updated indicated resource estimate for FTZ
completed and NI 43-101 technical report
available on www.sedar.com
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91. FIRE TOWER ZONE
2008 43-101 Indicated Resource 0.3 wt.% WO3 Eq.* cut-off grade
Zone Tonnes WO3(wt.%) MoS2(wt.%) Bi(wt.%) As (wt.%)
Fire Tower West 9,148,900 0.32 0.21 0.04 0.29
&South
Fire Tower North 4,340,100 0.35 0.20 0.09 1.15
Total indicated 13,489,000 0.33 0.21 0.06 0.57
Plus 43-101 Inferred Resource
Fire Tower East 831,000 0.26 0.20 0.04 0.21
Fire Tower North 10,700 0.26 0.17 0.05 0.26
Total Inferred 841,700 0.26 0.20 0.04 0.21
Specific Gravity - 2.65 * WO3 Eq. = wt.% WO3 + 1.5 wt.% MoS2
Completion of Scoping Study provides a preliminary assessment of
economic mining potential at the FTZ
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92. Results of FTZ Scoping Study
Scoping Study/Preliminary Economic Assessment
Prepared by Aker Metals, a division of Aker Solutions
Canada Inc. (tungsten-molybdenum)
Highlights of Scoping Study
Unlevered pre-tax IRR: 27.1%
After-tax IRR: 19.8%
NPV of CAD $164 million pre-tax and CAD $84 million after-tax
(discount rate of 8%)
Preproduction capital cost: $130 million
CAD $1.160 billion revenue over 13 year mine life
Operating costs: approx. CAD $600 million
Product Price: APT: US $215/MTU WO3
Molybdenum: US $23.17/lb MoO3
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93. Strategic Objectives for 2009:
Subject to Market Conditions
Consolidate Strategic Partnership with Major to Fund/Advance
Feasibility
FTZ: Fast-track the past-producing tungsten-molybdenum
mine to a Definitive Feasibility Study (DFS) stage, with a view
to making a production decision within 6-8 months of initiating
feasibility
FTZ: Move forward on obtaining provincial/federal regulatory
and environmental approvals for dewatering,
mine/infrastructure development and production start-up
Aker Solutions Scoping Study: timeline from start of feasibility
to production start-up approx. 29 months
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94. Future Benefits to New Brunswick
FTZ: Once production is re-started at the tungsten-
molybdenum mine
2400 tonnes per day underground mining operation
$96 million of revenue per year over a 13 year life of mine
Production start-up possible in 29 months (subject to
completion of a positive DFS, capital financing, lead time for
equipment delivery and provincial/federal regulatory approvals)
Additional production/economic activity if NZ (tin-indium
resource) put into production
200-250 employees will be required to support mine
production
$15-$20 million annual payroll
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95. Contact Information
Adex Mining Inc.
67 Yonge Street, Suite 1402
Toronto, Ontario, M5E 1J8
info@adexmining.com
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