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Disclaimer THIS DOCUMENT (DOCUMENT) IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THE DISTRIBUTION OF THIS DOCUMENT MAY BE RESTRICTED BY LAW. ACCORDINGLY, THIS DOCUMENT MAY NOT BE DISTRIBUTED IN ANY


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Disclaimer

THIS DOCUMENT (“DOCUMENT”) IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THE DISTRIBUTION OF THIS DOCUMENT MAY BE RESTRICTED BY LAW. ACCORDINGLY, THIS DOCUMENT MAY NOT BE DISTRIBUTED IN ANY JURISDICTION EXCEPT IN ACCORDANCE WITH THE LEGAL REQUIREMENTS APPLICABLE TO SUCH JURISDICTION. IN PARTICULAR, YOU MAY NOT DISTRIBUTE, FORWARD, REPRODUCE, TRANSMIT OR OTHERWISE MAKE AVAILABLE THIS DOCUMENT OR DISCLOSE ANY INFORMATION CONTAINED IN IT OR CONVEYED DURING ANY ACCOMPANYING ORAL PRESENTATION (THE “INFORMATION”) , IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR IN ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL. FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. PERSONS INTO WHOSE POSSESSION THIS DOCUMENT COMES ARE REQUIRED BY THE COMPANY TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS. NEITHER GALILEO RESOURCES PLC (“THE COMPANY”) NOR ITS DIRECTORS, OFFICERS, EMPLOYEES, RESPECTIVE AFFILIATES, AGENTS OR ADVISERS ACCEPT ANY LIABILITY TO ANY PERSON IN RELATION TO THE DISTRIBUTION OR POSSESSION OF THIS DOCUMENT IN OR FROM ANY JURISDICTION. The Document and the Information have been prepared by or on behalf of, and is the sole responsibility of, the Company. The Information is being provided to you during an oral presentation and is not a complete record of that discussion. The Information does not purport to be full or complete and does not constitute investment advice. No representation or warranty, express or implied, is given by or on behalf of the Company, its affiliates, agents or advisers or any other person as to, and no reliance may be placed for any purposes whatsoever on, the adequacy, accuracy, completeness, fairness or reasonableness of the Information. None of the Information has been independently verified by the Company, its affiliates, agents or advisers or any other person, and no liability or responsibility whatsoever is accepted by any of them for any loss howsoever arising, directly or indirectly, from any use of the Information or otherwise arising in connection therewith. The Company, its affiliates, agents and advisers do not undertake and are not under any duty to update this Document or to correct any inaccuracies in the Information which may become apparent, or to provide you with any additional information. The sole purpose of this Document is to provide background information to assist you in obtaining a general understanding of the business of the Company. This Document does not constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, securities of the Company in any jurisdiction. It is not intended to provide the basis of any investment decision, financing or any other evaluation and is not to be considered as a recommendation by the Company, its affiliates, agents or advisers that any recipient of this Document purchase or subscribe for any securities in the Company. Each recipient of this Document contemplating any investment in the Company is required to make and will be deemed to have made its own independent investigation and appraisal of the business, results of operations, financial condition, liquidity, performance and prospects of the Company and the merits and risks of an investment in the securities of the Company. The delivery of this Document at any time does not imply that the information in it is correct as of any time after its date, or that there has been no change in the business, results of operations, financial condition, liquidity, performance and prospects of the Company since that date and no obligations is accepted to update any such information after the date of the Document. No person affiliated with the Company, their directors, officers, employees, respective affiliates, agents or advisers has been authorised to give any information or to make any representation not contained in this Document and, if given or made, such information or representation must not be relied upon. The securities of the Company have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered, sold, transferred or delivered, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. In the United Kingdom, this document is directed solely at persons having professional experience in matters relating to investments and who are investment professionals as specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotions Order"), to persons who are high net worth companies, unincorporated associations or high value trusts as specified in Article 49(2) of the Financial Promotion Order (all such persons together being referred to as "relevant persons"). In addition to the foregoing restrictions, this document is made and directed

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This Document may contain forward-looking statements, including, but not limited to, statements as to the Company’s business, results of operations, financial condition, liquidity, performance and prospects and trends and developments in the markets in which the Company operates. Forward-looking statements include all statements other than statements of historical fact and in some cases may be identified by terms such as “targets”, “believes”, “expects”, “anticipates”, “estimates”, “aims”, “intends”, “will”, “may”, “would”, “could” or, in each case, their negative or comparable terms. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. A number of factors, which may be beyond the control of the Company, its affiliates, agents and advisers, could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements in this Document reflect the Company’s view with respect to future events as at the date hereof and are subject to known and unknown risks, uncertainties and assumptions relating to the Company’s

  • perations, results of operations, financial condition, growth, strategy, liquidity and the markets in which the Company operates. No assurances can be given that the forward-looking statements in this

Document will be realised. Forward-looking statements are not guarantees of future performance. The Company, its affiliates, agents and advisers undertake no obligation and do not intend to update any forward-looking statements in this presentation to reflect events or circumstances after the date of this presentation.

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A balanced portfolio

A portfolio of international interest projects

  • Glenover (South Africa): advanced stage

project showing robust technical and financial fundamentals – Preliminary Economic Assessment (PEA) completed

  • Gabbs (Nevada, USA): Recent proposed

acquisition of Nevada bulk mining proposition – major independent resource established and significant potential to increase

Gold/Copper Rare Earth/Phosphate

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SLIDE 4

Galileo’s ongoing strategy

Moving with the times

  • Current financing problems presents opportunities
  • Option to acquire Gabbs property in Nevada, USA at sunk costs + 10 % premium
  • Raw date acquired would cost a minimum of US$30 million from a standing start
  • Glenover now well understood and placed in market
  • Glenover 33% owned attributable NPV @ 5% discount US$260 million
  • Strategic partner being sought for Glenover project
  • Add value St. Vincent by increasing current reserve and testing porphyry concept

Dr

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The Porphyry Story

The majority of future copper to come from this source

  • Copper production is rapidly moving to this type of deposit
  • Huge low grade bodies which are capital intensive to work
  • Lack of global expertise for smaller underground high grade projects
  • Gabbs +/- 4 million oz gold equivalent or 700,000 tonnes of copper equivalent
  • Copper hedges gold
  • Porphyry generally in low political risk countries
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Geology and Mineralisation

Big systems

* Source www.incaminerals.com

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Copper Fundamentals

Nobody is going to give up their fridge or cell phone

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World distribution of porphyry deposits Generally in safer places

* Source www.incaminerals.com

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Today’s projects are more politically threatened than ever before

CT NT T

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Projects

Can’t do much damage here

GABBS PROJECT

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Exploration Upside

Many models to test

  • Additional “Sullivan-like” porphyry deposits likely exist across the Gabbs Project
  • Similar geologic signatures combined with induced polarizations surveys indicate

a large “feeder” porphyry at depth in a central area of the claims package

  • Adjacent to existing infrastructure (Paradise Peak mothballed mill, power

substation, roads, etc)

  • Strong potential to create a large regional play through acquisitions and staking

programs

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  • St. Vincent Project Portfolio

All projects have enormous potential

acquired from Newcrest Resources in 2010

Gabbs:

Au-Cu Resource Au-Cu Targets Au Targets

Silverton:

Au Targets

Crow Springs:

Cu porphyry target

Ferber:

Cu-Au Target

Sand Springs:

Cu-Au Target

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SLIDE 13

Gabbs Claim Package

Discoveries close enough together for central mill

Lucky Strike Gold Ledge Sullivan

Car

Body

Paradise Peak Mill and Mine

  • Gabbs claims package consists of 355 unpatented lode claims and 1 patented lode claim covering 6,900

acres (28 km²)

  • Property contains 4 distinct areas of mineralisation

Sullivan Deposit, porphyry deposit

Lucky Strike Prospect, porphyry target

Car Body Prospect , epithermal target

Gold Ledge Prospect, porphyry target

  • Adjacent to Paradise Peak mill and mine, which produced 1.6 million ounces of gold and 42 million ounces
  • f silver from 1986 to 1994
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Independent Resource Statement

Large basic resource, plenty to work with

Gabbs, Nevada - USA

Cut-off Au g/t Oxide/Non- Oxide Tonnage (1,000t) Au (g/t) Cu (ppm) Au Eq (g/t) Cu Eq (%) 0.20/0.10 167,942 0.37 2,213 0.74 0.43

GMVs Gabbs $5 072 839 522

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Significant Drill Intercepts

Nice start

Zone Hole Intercept

Sullivan SD-1 88 m @ 1.43g/t Au and 0.28% Cu from 56 m Sullivan SD-2 89.7 m @ 0.76 g/t Au, 0.29% Cu Sullivan SD-4 100 m @ 0.40 g/t Au and 0.29 % Cu from 93 m South Gold Ledge GD-5 154 m @ 0.16 g/t Au and 0.14 % Cu from 12 m Lucky Strike G-43 54.8 m @ 0.52 g/t Au, 0.26% Cu Lucky Strike G-44 53 m @ 0.80 g/t Au and 0.34 % Cu from 108 m Car Body G-4 39.7 m @ 0.80 g/t Au Car Body G-17 38 m @ 0.49 g/t Au from 96 m Car Body G-28 41.1 m @ 1.12 g/t Au

Gabbs project

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2008 Induced Polarisation

Hole Summary

450m depth

  • IP survey results show extensive coincident resistivity and chargeability anomalies
  • Supports thesis of a potential gold-copper porphyry at depth to the north of Gold

Ledge and to the west of Sullivan

  • St. Vincent proposes four deep core holes to test this
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SLIDE 17

Investment Highlights – St. Vincent

Significant acquisition in troubled times

  • Nevada-based mineral exploration and development company
  • Seasoned management team with proven track record for growth
  • Excellent mining jurisdiction
  • Significant 43-101 compliant resource established at flagship Gabbs

Project

  • Highly prospective geology with significant historic exploration

work completed by previous companies (including Newcrest)

  • Numerous unexplored epithermal and porphyry targets,

including a possible porphyry feeder system at depth

  • Multiple near-surface untested IP anomaly targets
  • Advantageously located near Paradise Peak former producing

mine and milling infrastructure

  • Aggressive and focused exploration plan
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SLIDE 18

Importance Of REE

The long-term fundamental remain intact

Source: U.S. Department of Energy, Critical Materials strategy, Dec. 2010

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SLIDE 19

Note: IMCOA – “Reserve figures encompass a wide range of mineral qualities and do not necessarily comply with the internationally recognized codes for the definition of reserves.”

Rare Earth Fundamentals

Not that big and too China dominant

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Rare Earth Fundamentals

Anything high tech develops new need for REE

Source: IMGOLD

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Glenover Rare Earth Project

Established site

Phosphate open pit Open pit stockpiles Recent drilling Available process equipment

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Aerial photograph of old pit

Big former pit – easy access to new ore

100 200 50 Metres

Mine Area and Apatite-Haematite Breccia Ore Stockpiles

Ore Stockpiles Ore Stockpiles

1.34 million m3 2.0-2.5 million tonnes

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Independent Resource Statement

Big resource of critical REE

Glenover, South Africa

Total *** Mt %TREO %P₂O₅ Glenover Resource 10.4 2.13 18.7

***measured + indicated + inferred + 0.27Mt inferred in open pit

GMVs sub total $9 406 062 916

Combined GMV total $14 478 902 438

GBM Minerals Engineering Consultants Limited is an independent firm of consulting engineers that specialises in assisting clients with the development, design and construction

  • f new mining projects and the refurbishment of existing ore

processing plants and associated infrastructure. The Company’s expertise is in the design, engineering, project management, procurement and construction of such plants. Our personnel are currently providing technical services to the mining industry in Africa, the Americas, Asia, Australia, Europe, Former Soviet Union, Greenland, the Middle East and Russia. GBM was formed in 1994 by the employees of a large UK-based engineering consultant following the closure of that consultant’s Mining Projects Centre in London. The Centre had operated as a stable unit with the employees and other consultants working together on international projects for several years. The Company’s employees have all worked for significant periods in the mining industry, worldwide, and are familiar with the current work practices and technologies for treatment of mineral bearing

  • res.
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SLIDE 24

REO Distribution

Good split of desired rare earth Oxides

Ce, 46% Nd, 22% La, 17% Pr, 6% Sm, 3% Eu, 1% Gd, 1.8% HREOs, 3%

HREOs >0.5% dist’n

heavy rare earth oxides

LREOs 97%

Light rare earth oxides

Y, 2%

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Project economics

Very robust PEA model, currently being optimised

Mine Life 24 years Fixed Capital $233M Revenue $275M pa $37/kg REO Operating Income $133M pa $17/kg REO Operating Cost $20/kg REO Cash flow (post tax) $72M pa IRR 34.5% NPV @ 5% $783M 8% $512M

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Key parameters

This simply shows that REE operations are all about processing

Project operating costs

AREA UNIT COST $/T PROPORTION % MINING (CONTRACT) 10* 3 PROCESSING 313 93 OTHER ** 14 4 TOTAL 337 100

Processing costs

ITEM UNIT $/T ANNUAL $M OPERATING COST OF TOTAL % REAGENT 289 116 92 OTHER 24 10 12 TOTAL 313 126 110

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SLIDE 27

Scandium (Sc) potential

Scandium comes out in the process and may play a major contribution

  • Recoverable Sc grade to FePO4 = 63 g/t ore
  • Sc US$14/g a; $14 000/t
  • Price is 25% of gold
  • Au equivalent ~16g/t ore
  • Sc in-situ GMRV b in ore $882/ t ore

a http://www.chemicool.com/elements/scandium.html b Gross metal recoverable (to FePO4) value

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Peer Comparison of REE Deposit

Well positioned in the league of expectation

  • Market analysis indicates that 5 REE will remain in undersupply for the next decade:
  • Neodymium, Europium, Dysprosium, Terbium and Yttrium = Critical Rare Earth Oxides (CREO)
  • Amount of in situ CREO in a deposit provides a useful metric to compare deposits
  • The CREO yield from both the Glenover and Xiluvo deposits rank in the top quartile of the 42 advanced REE projects currently under development*
  • More significantly, the value** of the CREO in the Glenover and Xiluvo are higher than deposits having higher CREO yields

* Project data from TMR’s Advanced REE Projects Index on 6 July 2012 (www.techmetalsresearch.com) ** using estimated REE oxide prices for 2015 (Nd $80;Eu $625;Tb $605;Dy $295;Y $56 per kg oxide)

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Compelling Investment Case

Balanced portfolio with near term production projects

  • Quality, near cash flow, strategic position projects
  • Combined gross value of metal in projects US$ 14.5 billion
  • Strong international interest in both Glenover and St. Vincent
  • Mining costs are projected to be low since resources are open pittable and in the

case of Glenover some resources are in surface stockpiles

  • Geological setting provides in both situations provides major upside
  • Complimentary exploration projects of high potential contained in St. Vincent

portfolio

  • The data packages acquired with St. Vincent and Glenover are the result of work

carried out by major mining companies and therefore can be relied on

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SLIDE 30

Thank you very much www.galileoresources.com