Elevate Uranium Ltd · ASX:EL8
Elevate Uranium — West Australian Metals — Investor Presentation (November 2009)
17 slides from Elevate Uranium's investor presentation, November 2009
Slide 1: The Marenica Uranium Project, Namibia
Th M The Marenica i U Uranium i P Project, j t Namibia Munich November 2009 1
Slide 2: Disclaimer
Di l i Disclaimer This presentation has been prepared by West Australian Metals Ltd (WME) 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 WME, WME or as an inducement to make an offer
Slide 3: Competent Persons Statement
Competent Persons Statement Information in this report that relates to exploration results is based on information compiled by Dr Erik van Noort, who is a Member of the Australian Institute of Geoscientists. Dr van Noort is a full-time employee of West Australian Metals Limited and has sufficient ex
Slide 4: Corporate Overview
Corporate Overview Capital Structure (21/10/09) 2009 Share Price Graph • Ordinary O di Sh Shares 449M • ASX Code: WME • Frankfurt Exchange: WTT • Namibian Exchange: WAM • Top 20 74% • Market Cap A$76M (undiluted) • Cash A$8M Board and Management • Graham Woolford – Chairman • John Young – CEO • Neil
Slide 5: Overview
Overview • High quality project • 80%-owned Marenica Project • EPL renewed to Nov 2010 • A$7M exploration budget for 2010 • Future upside from hard rock p uranium exploration • New Resource Dec 2009 5
Slide 6: Uranium – A Commodity in Demand
Uranium – A Commodity in Demand • Spot price currently ~US$94,000/t (US$46-47/lb) • Price spikes of up p to US$304 US$304,000/t 000/t (mid 2007) dri driven en by: – drop in inventories held by utilities – short-term supply disruptions – hedge fund speculation • Demand fundamentals strong despite som
Slide 7: Namibia – World Class Province
N ibi – World Namibia W ld Class Cl Province P i • World class neighbours at Rossing, Trekkopje, Langer Heinrich (7-10% of world uranium production, ~ 10mlb) • Potential for future hard rock discoveries highlighted by Extract Resources and recently Deep Yellow • Key infrastructure in place • Stable
Slide 8: 8
8
Slide 9: Resource Development
Reso rce Development Resource De elopment • Histroric re-probing • RC drilling 12,000m • RC drilling for extensions to resource. • RC drilling Focus on shallow high grade zones for conversion to indicated. • Resource Upgrade Final Q4 2009 9
Slide 10: Marenica Project – New Drilling Status
Marenica Project – New Drilling Status 2.6m @ 107 ppm eU3O8 from 3.49m in MAR1019 2.0m @ 171 ppm eU3O8 from 0.65m in MAR1045 5.1m @ 125 ppm eU3O8 from 8.79m in MAR1072 10.3m @ 125 ppm eU3O8 from 1.14m in MAR1076 5.0m @ 252 ppm eU3O8 from 1.45m in MAR1077 Extensions confirmed eU O by drilling - miner
Slide 11: Marenica Project – Recent Probe Results
Marenica Project – Recent Probe Results 6.6m @ 302 ppm eU3O8 from 1.20m in M1027 8.1m @ 442 ppm eU3O8 from 5.28m in SP0586 7.2m @ 256 ppm eU3O8 from 1.12m in SP1440 11.3m @ 347 ppm eU3O8 from 0.69m in SP2591 7.7m @ 237 ppm eU3O8 from 0.59m in SP2611 Extensions confirmed by drilling - mineralised 8 9
Slide 12: Metallurgy
Metallurgy • 31 Diamond drill holes completed • SRK confirmed Carnotite dominant mineralogy • 900kg material to Cardiff University • Bottle Roll leach testing recoveries, 55 to 70% • Metallurgical for Scoping Study by SRK Q1 2010 • Ore sorting at ANSTO (3t) 12
Slide 13: Primary Uranium at Phillipus
Primary Uranium at Phillipus 13
Slide 14: Marenica Project – Value Benchmarks
Marenica Project – Value Benchmarks • Kintyre Uranium deposit (WA) – sold by Rio Tinto to CAMECO (70%) and Mitsui (30%) for US$495M - Valuation V l ti off US $6-8/lb $6 8/lb • Mega Uranium sold a 35% stake in Lake Maitland deposit (8.4M lbs) in Western Australia to JAURD and Itochu for US $49M. - Eq
Slide 15: Scaddan Lignite
Scaddan Lignite - Potential for + 500M tonne resource 15
Slide 16: Approach for value realisation
Approach for value realisation: • A sustainable funding program 2010 • Results from Infill drilling • Upgrade inferred resource to indicated • Additional 5000m drilling for targeting primary mineralisation – Exploration p Success at Phillipus p and Springbok p g • Timetable of results: - Resource Up
Slide 17: Contact Details
Contact Details West Australian Metals Ltd 47 Colin Street West Perth Ph: +61 8 9321 7355 www.wametals.com.au17
West Australian Metals — Investor Presentation (November 2009) on 6ix