musgrave minerals- resources & energy symposium 2012
TRANSCRIPT
Resources & Energy Symposium
Broken Hill 2012
ASX : MGV
Rob Waugh – Managing Director
Value Opportunity
Seven key elements:
1. Great land package – First mover - Underexplored
2. Huge greenfield potential
3. Strong financial position ~$14.8M cash
4. A strong, experienced team
5. Excellent targets – currently drilling
6. High quality register
7. Value opportunity
Project Location
Moorilyanna Prospect
Large
hydrothermal
Copper, Gold,
Silver footprint
Near surface
regolith
intersections
including:
12m @ 0.20% Cu
10m @ 0.23% Cu
Moorilyanna Near Surface Copper
Two
Mineralised
Copper
Zones
Combined
strike extent
over 8km
Zones up to
80m wide
from surface
Close to Road and Rail
Caprica East Mineralised Copper Zone
Mineralised
Copper Zone
over
>900 metres
strike
Six IP Targets
Co-incident with
Geochemistry
3,000m RC
Drilling
Assays Pending
Inverted
Chargeability Model
Assays Pending
Deering Hills Project Location
Deering Hills Drilling Sulphides Intersected
• Magmatic sulphide within Giles Complex mafics in drilling
• Nickel & Copper sulphide as veinlets and
disseminated ‘blebs’ at surface
• Analogous setting to Voisey’s Bay (136Mt @ 1.6% Ni, 0.8% Cu)
Drilling has confirmed we are in the right environment
Deering Hills New Targets
Diamond Drilling Commenced – Results Pending
15 priority VTEM targets
3 high
conductance anomalies confirmed with ground EM – work continuing
All targets under shallow sand cover
“Target cluster”
Ni, Cu, PGE Anomalies
Deering Hills Pallatu Area
VTEM conductivity image
High conductance targets
Targets marginal to Giles Complex intrusives in areas of thin sand cover
Drilling – awaiting assay results
Shallow , Highly Conductive Targets
Mt Woodroffe Project Location
Mt Woodroffe Targets
New Targets
Twelve priority VTEM targets
Co-incident with Cu, Ni, Co, Pt anomalies in stream sediment sampling
Targets all proximal to Giles Complex intrusives
Explorable Area Doubled
Additional 7,300km2 - Pipeline of Future Opportunities
Huge Land Holding
Largest Landholder in Province with >50,000km2
Effective Exploration
Systematic testing of high quality Tier 1 targets – Multiple projects
Currently drilling – results awaited
Majority 100% owned
MGV – Experienced operators
Effective / systematic exploration
ACTIVITY May Jun Jul Aug
Airborne Surveys
Geological Mapping
Geochemistry
Gravity
Ground EM
Drilling
Active Exploration
Maximising the Probability of Success
New Areas, Concepts
& Technology • Camp scale target areas
New tenement grants
• New geological framework
• VTEM & Gravity 3D
• Geochemistry advances
• Ground EM & IP
• Vacuum drilling
• Niton
• Links with CET, Adel Uni
= NEW TARGET AREAS
Project
Areas • Deering Hills
• Mimili
• Mt Woodroffe
• Mt Woodward
• Bryson Hill
Drill Targets • Moorilyanna
• Caprica East
• Caprica West
• Picon
• Deering Hills
• Pallatu
• Valen
• Galen
• Ulkesh
Prospects • Moorilyanna
• Pallatu
Advanced
Projects
Target Generation
Target Definition Target
Testing Prospect Identification
Advanced
Project
Concept
Studies
Commodity Focus Copper, Nickel, Gold
Strategy 100% MGV
Province Scale Landholding
First Mover
Ability to make the major
discovery
Keys Search Space
People
Funding
Process
Experienced Management & Technical Team
Graham Ascough BSc, MAusIMM, PGeo (Non-Executive Chairman) Geoscientist with >20 year’s exploration experience (Ex Falconbridge)
Robert Waugh MSc, BSc, MAusIMM, MAIG (Managing Director) Geologist with >20 years of exploration experience (Ex WMC & BHP) including 9
years in the Musgrave region
Kelly Ross BBus, CPA, GradDipCSP (Non-Executive Director) Accountant and Chartered Secretary with over 25 year’s experience in the mining
industry
John Percival (Non-Executive Director) Over 25 year’s experience in broking, investment and merchant banking including
15 years as investment manager of Barclays Bank New Zealand Limited
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Donald Stephens BA(Acc), FCA (Company Secretary) Chartered Accountant with over 25 year’s experience as a corporate adviser across
various industry sectors including mineral exploration
Justin Gum PhD, MAIG (Exploration Manager) Geologist >19 years of exploration experience including manager of PIRSA’s
Musgrave Team
Institutions 9%
Cornerstone Investors
36%
Directors 5%
Other Investors
50%
Fully Diluted
Corporate Snapshot & Share Structure
Shares on Issue 121 Million
Share Price (17th May 2012) $0.08
Cash on Hand (31st March 2012) ~$14.8M
Debt $0
Market Cap. (@8c) $9.7M
Enterprise Value -----
Options on Issue Expiry Ex. Price Number
Total 2016-17 $0.25 - $0.50 16,025,000
Currently trading below cash backing
Cash Backing ~12c
Corporate Snapshot & Share Structure
* The top 20 shareholders hold 54.3%
Top 10 Shareholders % Holding
Mithril Resources Investments Pty Ltd 7.7
Independence Group NL 7.5
Goldsearch Ltd 7.2
Acorn Capital Ltd 6.4
Barrick (Australia Pacific) Limited 5.0
Integra Mining Limited 4.6
JP Morgan Nominees Australia Ltd CI A/C 4.4
Argonaut Resources NL 2.1
Mr WD Goodfellow 1.3
Mr SH Koppe 1.0
47.2%
as at 17th May 2012
Listed on ASX April 29th, 2011 ASX Code : MGV
121M Shares 41M (36%) held by Cornerstone Investors …………..of which 32
million escrowed for 12 months
The Opportunity
In a very prospective under-explored region, MGV has :
1. Province scale landholding
2. Huge greenfield potential
3. Excellent targets
4. A strong, experienced team
5. Strong financial position (cash)
6. A high quality register
Disclaimer This presentation has been prepared by Musgrave Minerals Limited (Musgrave Minerals). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Musgrave Minerals has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Musgrave Minerals. Any forward-looking statements included in this document involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and may be unknown to, Musgrave Minerals. In particular, they speak only as of the date of this document, they assume the success of Musgrave Minerals strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements are based. Recipients of this document (Recipients) are cautioned to not place undue reliance on such forward-looking statements. Musgrave Minerals makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Musgrave Minerals and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Musgrave Minerals and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information. All amounts in A$ unless stated otherwise.
Competent Person’s Statement The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Robert Waugh. Mr Waugh is Managing Director of the Company and is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and a member of the Australian Institute of Geoscientists (AIG). Mr Waugh has sufficient industry experience to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Waugh consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.