Elevate Uranium Ltd · ASX:EL8
Elevate Uranium — Marenica Energy — Shareholder Meeting (November 2013)
13 slides from Elevate Uranium's shareholder meeting presentation, Nov 21, 2013
Slide 1: Marenica Energy Ltd AGM – 2013
Marenica Energy Ltd AGM – 2013
Slide 2: Disclaimer
Disclaimer Disclaimer This presentation has been prepared by Marenica Energy Limited (MEY) for general information purposes only. The presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities in MEY, or as an inducement to make an offer or
Slide 3: 2012 AGM Summary
2012 AGM Summary Technical Steering Committee formed Uranium price collapse Identified characteristics of the ore Bulk samples collected First stage beneficiation work produced good recovery and upgrade Mineralogy on first stage concentrate confirmed upgrade 3 likely
Slide 4: 2013 Developments
2013 Developments Upgrading of first stage concentrate not as easy as expected TSC focused testwork into certain areas that proved successful Several major breakthrough’s were achieved during the year Produced outstanding results Sea and tap water produce similar results 4
Slide 5: Outstanding Results
Outstanding Results 50 times upgrade achieved ~99% mass rejected Plant feed grade increased from 94 to ~5,000ppm for leaching 72% recovery 5
Slide 6: U-pgrade TM
U-pgradeTM The process has been coined “U-pgrade” The name U-pgrade has been trademarked (TM) A patent has been lodged over U-pgradeTM 6
Slide 7: High Sulphate Ore
High Sulphate Ore U-pgradeTM developed on low sulphate calcrete ore representing >85% of Marenica resource High sulphate ore can be up to 100% of some calcrete resources Up to now these high sulphate ores have not been able to be processed due to very costly reagent consumption U-pgradeTM testing of
Slide 8: Financial Comparison
Financial Comparison U-pgradeTM Description Unit Heap Leach Tank Leach Process Mining Operating US$/t ore 2.15 2.15 2.15 Costs US$/lb* 15 15 15 Process Plant US$/lb* 67 64 25 Operating Costs Total Operating US$/lb* 82 80 39 Costs Project Capital US$M# 779 605 391 Cost *US$/ recovered pound # Include
Slide 9: U-pgrade TM Opportunity
U-pgradeTM Opportunity Marenica have a large low grade resource and U-pgradeTM technology U-pgradeTM is estimated to deliver a 50% reduction in OPEX compared to conventional processing Nevertheless Marenica Uranium project will not be developed until the U3O8 price increases Meanwhile U-pgradeTM tec
Slide 10: U-pgrade TM Objectives
U-pgradeTM Objectives Pilot Plant design and costing – to be presented to the Board in February 2014 Determine geographic reach of U-pgradeTM technology over the next 3 months Marenica have sourced samples from 7 resource companies representing 10 different resources Two of which are Areva (Trekkopj
Slide 11: The Project
The Project • The Marenica deposit is a large low grade deposit • Located in World Class Uranium province • Namibia has established history of uranium mining • Namibia is politically stable • 4th largest Uranium producing region in world 11
Slide 12: Funding
Funding Recent capital raisings have been successful indicating support for U-pgradeTM Marenica continue to pursue investors The low U3O8 price and the development of U-pgradeTM may present technology licensing and/or M & A opportunities for Marenica 12
Slide 13: Summary
Summary Marenica has successfully developed U-pgradeTM Intellectual Property protection is via a Patent (and internal “know how”) Exciting opportunities are expected due to the development of U-pgradeTM Marenica looks forward to an exciting and prosperous year in a difficult climate 13
Marenica Energy — Shareholder Meeting (November 2013) on 6ix