Elevate Uranium Ltd · ASX:EL8
Elevate Uranium — Marenica Energy — Shareholder Meeting (November 2010)
19 slides from Elevate Uranium's shareholder meeting presentation, Nov 19, 2010
Slide 1: Marenica Energy Uranium Project Annual General Meeting 2010
MarenicaMarenica Energy Uranium Limited Project Annual General Meeting g 2010 Melbourne Resource Roundup 2010
Slide 2: Marenica Uranium Project - Right Time, Location and Project
Marenica Uranium Project - Right Time, Time Location and Project Uranium – Attractive Industry Dynamics ¾ 2015 Spot price predicted to move to US $60-70. ¾ Growth from China, India, Russia, Korea and Japan. ¾ Production not keeping up with forecasts . Namibia - Premier Uranium Mining District ¾ Mode
Slide 3: Company Snapshot
Company Snapshot (at completion of RI) Capital Structure Shareholder Profile Share price - A$ 0.095 Ordinary Shares - 499M O ti Options - 64M Minorites <3%, 70.00% Convertible Notes - - $2M (28,571,429 shares if converted) AREVA, 9.4% Fully Diluted - 591.5M Top 20 - 63% Market Cap (U) - A$47M H l Ha
Slide 4: Directors and Management
Directors and Management - Strong technical background John A Young - Chief Executive Officer, Geologist - geologist with + 20 years experience and has worked on a wide variety of mineral and resource projects. Served in senior management and operational positions, recently as CEO and director of AI
Slide 5: Hanlong Mining and Hanlong Group
Hanlong Mining and Hanlong Group Funding/Offtake MOU with one of China’s largest private co’s Group has over 12,000 staff and 30 subsidiary companies. Revenues of over 16 billion RMB. Mining, energy, pharmaceuticals, high technology, food and beverage, chemicals, infrastructure development, tourism
Slide 6: Uranium Market Outlook
Uranium Market Outlook - Nuclear uc ea Renaissance e a ssa ce U Underway de ay The number of operating nuclear reactors in the world (441)has virtually remained unchanged h d ffor th the llastt 30 years. This is about to change with 537 reactors under construction, planned or proposed . Current defi
Slide 7: Uranium Market Price
Uranium Market Price - Nuclear uc ea Renaissance e a ssa ce U Underway de ay Current Long Term price at $63 Expected spot price to move to $65 in 2013 HEU supply to end 2013 7
Slide 8: Current Resource Status
Current Resource Status MEY 2010 • Updated resource for HL (SRK Consulting) •Indicated Area • Mineral Resource estimate of 648 million tonnes at 97ppm for 138M lbs • Includes 30.6Mt @ 175ppm for an Indicated 12 Mlbs U3O8 • Metallurgical Testwork • Scoping S i StStudy d
Slide 9: Results – Scoping Work
Results – Scoping Work 9 Optimised pit shell~ 57Mlbs (270Mt) 9Average grade 107ppm (can be upgraded) 9 Positive economics for large Heap Leach 9ON/Off Leach Pads 9 Bulk Mining methods for 20Mtpa (base case) 9 Mine life up to 13 years 9Assumed Metallurgical recoveries 78% 9 Alkaline leach followed by
Slide 10: Results – Technical Economic Model
Results – Technical Economic Model OPEX estimated to be US$38 HL_UC5mZ per lb Description Units 50ppm Net Operating Cash of US$86M Total Ore processed (Mt) 134.6 Contained U3O8 (Mlb) 57.3 pa Recovered U3O8 (Mlb) 44.9 Mine Life (years) 13 CAPEX estimated to be $260 Ore p processed p per yyear M
Slide 11: Prefeasibility Level test work
Prefeasibility Level test work Metallurgical Optimisation Agglomeration and % upgrade Leach characteristics Reagent and water consumption R Resource I fill Drilling Infill D illi Improve grade and tonnes Improve resource category Mining Optimisation Review Mining costs New Mining Model
Slide 12: Road to production
Road to production 2009 Drilling 2014 Production ¾Establishment of resources ¾Preliminary metallurgy 2010 Scoping study ¾Ore sampling ¾O li 2013/14 Construction C t ti ¾Lab tests Tank L vs Heap L Uranium ¾Positive Economic model Prices & ¾First column tests Demand 2011 Feasibility studies ¾Resource
Slide 13: Marenica exploration 2010
Marenica exploration 2010 13
Slide 14: Marenica exploration 2010
Marenica exploration 2010 MA1 MA2 5 Kms 9 EM Targets MA1 and MA2 in the western Marenica paleochannel 14 9 RC drilling planned
Slide 15: Marenica Target MA3 - Geluk
Marenica Target MA3 - Geluk 15
Slide 16: Exploration Success at MA5
Exploration Success at MA5 16
Slide 17: Marenica Target MA7
Marenica Target MA7 • Major channel hosts Spitzkopje deposit – 12Mlbs and tributary to Trekkopje • Track-etch Radon Survey • RC Drilling 2008 – 600m • Air-core drilling 2010 – 50 to 100m 9 6.4m @ 232ppm U3O8 (MAC347) 9 6.5m @ 119ppm U3O8 (MAC395) 9 7.0m @ 177ppm U3O8 (MAC388) • Ground EM survey and
Slide 18: Marenica Project – The Next 12 Months
Marenica Project – The Next 12 Months • Funding/Offtake MOU with one of China’s largest private co’s •Continue to expand resource base + 100Mlbs • Pre-Feasibility is underway on the Marenica Deposit • Advance Regional drilling on emerging Targets MA1 to MA7 • Continuing evaluation of corporate and p
Slide 19: Disclaimer and Competent Person's statement
Disclaimer and Competent Person’s statement 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
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