Jubilee Metals Group Plc · LSE:JLP
Jubilee Metals — Jubilee Platinum — 61st Minesite Mining Forum (September 2009)
22 slides from Jubilee Metals's conference presentation, Sep 17, 2009
Slide 1: Presentation to 61st Minesite Mining Forum
Presentation to 61st Minesite M Mining Forum 17 September 2009 JUBILEE/BRAEMORE: THE ENL LARGED COMPANY Private and confidential
Slide 2: Disclaimer
Di l i Disclaimer IMPORTANT NOTICE No representation or warranty, express or implied, is given by Jubilee Platinum plc, as to the fairness, accuracy or completene ess of the information or opinions contained in this document and no liability wh hatsoever is accepted for any loss howsoever arising fr
Slide 3: The Enlarged 'Total Capability' Company
Th enlarged The l d ‘Total ‘T t l Capability C bility’’ Company C • Flagship Tjate Project • attributable 16Moz 6PGE*+Au (SAMREC Code), first mine • attributable 44Moz 6PGE+Au (targeted ovver total area**) • ConRoast • proven processing route mentally friendly • lower capital, energy efficient and e
Slide 4: Mission
Mi i Mission • Short-term cash flow [±1 month] • ConRoast operations resumed • F d source Feed convertter t slag, l mine i fifines, UG2 concentrate t t • furnace 3.2MW W (4MVA), 2 200 tpm, plus pilot hydromet refining • Medium-term cash flow [± 6 month] • Additional feed surface e tailings and “reve
Slide 5: The Bushveld Complex
Th Bushveld The B h ld Complex C l Jubilee properties (not to t scale) N Northern Limb Eastern Limb Western Limb Tjate Bokfonteiin Elandsdrift Map p reproduced p with p permission of Johnson Matthey y 5 Private and confidential
Slide 6: Tjate: location and project area
Tj t location Tjate: l ti and d project j t area • Three contiguous farms 5 143ha • Down dip of Implats’ Marula, Angloplats’ Twickkenham mines • Merensky grade 4.7g/t (3PGE+Au) over 110 cm reef thickness (SAMREC) • UG2 grade 5.7g/t (3PGE+Au) over 124 cm reef thickness (SAMREC) • Prill splits similar
Slide 7: Jubilee by comparison: contained value per tonne
J bil by Jubilee b comparison i Contained value per tonne t ore 3,500 3,000 2,500 R/tonne 2,000 1,500 1,000 500 0 ra R ge q M Am 2 2 am ds e we No R s ll in P R An s s ra Pa UG G u at M izw at AQ M PT Ju - M Ph atm d an A Nk rth -U oo pl pl Ri e al es n at El le e st Pl iri Pa le Pl iri Ea bi W os s
Slide 8: Jubilee by comparison, cont'd: depth of mining
J bil by Jubilee b comparison, i cont’ t’’d Depth of Mining bult deeps skraal Plats plats eps eps eps bult Impala dee Amandleb Amandleb Union dee Union dee Magazyns Western P Western p Annoraq Northam Amplats Implats Jubilee Afplats Karee Union WEZ 0 500 1,000 Tjate 1,500 2 000 2,000 2,500 Source: Q
Slide 9: Tjate Mineral Resource estimate (SAMREC)
Tj t Mineral Tjate Mi l Resource R estim timate t (SAMREC) Tonnes 3PGE+Au* 3PGE+Au* Classification Million g/t Million oz Indicated 11 561 359 5.28 1.964 Inferred 120 919 133 5.24 20.365 Total 132 480 493 5.24 22.329 Reef Tonnes Width 3PGE+Au 3PGE+Au Million m g/t Million oz Merensky 56 273 224 1.10
Slide 10: Tjate: scoping study on initial development
Tj t scoping Tjate: i study t d on initia i itiall development d l t Key assumptions – Initial development (15% of total re esources – Merensky only) ROM grade 5.0g/t (3PGE+Au); 0.22% Ni; 0.1 13% Cu Resource 47m tonnes from 600m to 1 100 0m Production 335 000 oz per annum (3PGE+A Au) Life of Mine 20
Slide 11: ConRoast
CONROAST Graphite electrode Off-gas port Feedport Refractory brick Waterr-cooled shell Slag Metal Ta ap-holes Anode 11 Photos Mintek Private and confidential
Slide 12: Why ConRoast?
Wh ConRoast? Why C R t? • Merensky reef (low chrome) depleting faster than UG2 • Increased mining of UG2 reef (high chrrome) by majors and new producers • Change from low to high chrome ore th hreat to current platinum smelting process viability • Majors, juniors dependent on finding sm Majors melti
Slide 13: ConRoast process flowsheet (simplified)
C R ConRoast t process fl flowsheet h t (simplified) ( i lifi d) If high S in feed Feed (PGE low S feed)) Roast Smelt DC arc furnace e Slag ALLOY Sale (current) (Fe rich ± 25oz/t PGE Sale (mid term) Granulate or Convertt Saleable product Sale (long term) Hydromet Refine Saleable FeCl3 PGE sludge Ni
Slide 14: ConRoast: unique selling points
C R ConRoast: t unique i selling lli poiints i t Green • Solves SO2 environmenta al problem >98% S captured Safety • Avoids corrosive high-tem mperature matte phase • Tolerant high-temperature e operation Energy efficient • Good temperature contro ol/distribution • No short circuiting betwee en coke
Slide 15: Enlarged Company effects on Tjate Project
E l Enlarged d Company C effects ff t onn Tjate Tj t Project P j t • NO toll treatment • Ownership of metal • Independent of majors • I Increase in i metal t l payable bl tto Tj Tjate t • Major increase in project NPV 15 Private and confidential
Slide 16: Effect of ConRoast and leach on Tjate scoping study economics
Effect of ConRoast and leach h on Tjate scoping study economics Key assumptions – Initial development (15% Effect of ConRoast and leach of total resources – Merensky only) ROM grade 5.0g/t 5 0g/t (3PGE+Au); (3PGE+A ) 0.22% 0 22% Ni Ni; No change 0.13% Cu Resource 47Mt from 600m to 1 100m No change P
Slide 17: ConRoast agreement with Mintek
C R ConRoast t agreementt with ith Mintek t k • Mintek holds patent on ConRoast processs • Sole and exclusive global licence option extended for life of patent (2020) • Usage fee based on R/t smelted to incre ease during option period • Requirement q to operate p 2 x 10MVA ((8M MW)) furnace in 5 yye
Slide 18: Nickel Australia - Nickel resources
NICKEL AUSTRALIA - Nickel Ni k l resources • Estimated total 485 000t of nickel meta al mined and milled in surface tailings based on historic mill records - AMC Consulttants • Additional 522 082t of hot nickel tailing gs from ongoing operations • In-situ contained nickel metal value > US$9 U billio
Slide 19: Leinster nickel tailings
L i t nickel Leinster i k l tailings t ili • Large nickel sulphide resources in Western Australia • Near established infrastructure and services capex savings • Off-take agreement with BHP Billiton ( (BHPB) ) • Proven proprietary process technologies • leaching and acid recycling depending on proces
Slide 20: Evolving nickel strategy
E l i nickel Evolving i k l strategy t t • Develop Kambalda • Close proximity of Kambalda with Kalgoorlie Nickel Smelter (KNS) and Kalgoorlie • Kambalda complements Leinster • provides two separate stand-alone stand alone nicke el production facilities • Considerably lower capex required for Kambald
Slide 21: The Investment Case
Th Investment The I t t Case C • Short-term cash flow from proven existting ConRoast process facility • Mid t Mid-term cash h flow fl ffrom dump d re-treat t tmentt Concentrating and Smelting • Tjate to be developed • A t li nickel Australian i k l evaluated l t d - ready d ffor development d l t •
Slide 22: Management
M Management t Board Malcolm Burne Non-executive Chairman Dr. Mathews Phosa Non-executive Deputy Chairman * Colin Bird utive Officer Chief Execu Leon Coetzer Executive Director D * Andrew Sarosi Executive Director D C Chris Molefe f Non-executive Director Management Colin Bird Chief Execu utive Offi
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