HONE YMOON URANIUM PROJE CT
So uth Austra lia
INVE ST OR PRE SE NT AT ION
F e b rua ry 2017
HONE YMOON URANIUM PROJE CT So uth Austra lia INVE ST OR PRE - - PowerPoint PPT Presentation
HONE YMOON URANIUM PROJE CT So uth Austra lia INVE ST OR PRE SE NT AT ION F e b rua ry 2017 DISCL AIME R The information contained in this presentation or subsequently provided to any recipient of this presentation whether orally or
HONE YMOON URANIUM PROJE CT
So uth Austra lia
INVE ST OR PRE SE NT AT ION
F e b rua ry 2017
The information contained in this presentation or subsequently provided to any recipient of this presentation whether orally or in writing by or on behalf of Boss Resources Limited (“Boss”) or its respective employees, agents or consultants (Information) is provided to the recipients on the terms and conditions set out in this notice. The purpose
This presentation does not constitute investment advice and has been prepared by Boss without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each recipient must make his/her own independent assessment and investigation of Boss and its business and assets when deciding if an investment is appropriate and should not rely on any statement or the adequacy and accuracy of any information. This presentation is in summary form and does not purpose to be exhaustive. This presentation should be read in conjunction with Boss’ periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available to download at www.asx.com.au. Boss makes no representation or warranty (either expressed or implied) as to the accuracy, reliability or completeness of the Information. Boss and its directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the presentation, except liability under statute that can not be excluded. This presentation may contain forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are
recipients are cautioned not to place reliance on forward-looking statements. This presentation does not constitute in any way an offer or invitation to subscribe for securities in Boss pursuant to the Corporations Act 2001 (Cth) and has not been lodged with the Australian Securities and Investment Commission. The information in this document relating to the Expansion Study is extracted from the announcements entitled ‘Positive Expansion Study Results Progress The Honeymoon Uranium Project To PFS’ dated 28 September 2016. The information in this document relating to the Mineral Resources is extracted from the announcements entitled ‘Substantial Increase And Upgrade In Honeymoon Uranium Resource’ dated 20 January 2016 , ‘Boss Increases Honeymoon Uranium Project Resource’ dated 8 April 2016, ‘Maiden Resource of 5.2Mlb for Jason’s Deposit’ dated 14 June 2016 and is available to view on www.bossresources.com.au. The information relating to the Exploration Target is extracted from the announcement entitled ‘Honeymoon Project Exploration Update’ and dated 8 December 2015. The information relating to the Exploration Results for the Jasons Deposit is extracted from the Company’s announcements dated 6 December 2016, 8 December 2016, 14 December 2016 and 3 February 2017. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that, in the case of Mineral Resources or Ore Reserves, all the material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. The Exploration Target is conceptual in nature as there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource under the JORC Code 2012. The Exploration Target is not being reported as part of any Mineral Resource or Ore Reserve.
2
“T he re ’ s re a lly o nly o ne te c hno lo g y tha t we kno w o f tha t supplie s c a rb o n-fre e po we r a t the sc a le mo de rn c iviliza tio n re q uire s, a nd tha t is nuc le ar powe r”
e n Ca lde ira o f Sta nfo rd Unive rsity’ s De pa rtme nt o f Glo b a l E c o lo g y
urope , North Ame ric a , Russia , South Kore a a nd Ja pa n
me rg ing e c onomie s re quire a n e ne rg y mix of nuc le a r, c oa l, g a s a nd re ne wa ble s to me e t the ir g rowing 24 hour powe r re quire me nts to ha ve he a lthc a re , e duc a tion, tra nsporta tion a nd c ommunic a tion syste ms Nine Mile Point Nuc le ar Station is a nuc le ar po we r plant with two nuc le ar r e ac to r s lo c ate d in the to wn of Sc r iba, appr
the ast o f Oswe go , Ne w Yor k, o n the sho r e o f L ake Ontar io.
OPE RABL E RE ACT ORS DE CE MBE R 2013
PL ANNE D RE ACT ORS
UNDE R CONST RUCT ION
Hinkle y Po int C nuc le ar po we r station is a pr
uc t a 3,200 MWe nuc le ar po we r station with two E PR r e ac to r s in So me r se t, E ngland.
the ne xt de c a de from 374,067MWe to 636,693MWe
2020, re pre se nting a 58% inc re a se
Gr
anium c onsume d by r e ac tor s and the ur anium pr
ld mine s, as has be e n the c ase for many ye ar s. L
le ad time s for ur anium mine de ve lopme nt 5 – 7 ye ar s, c ouple d by r e c e nt low ur anium pr ic e s making it e c onomic ally c halle nging to br ing on ne w pr
Daya Bay Nuc le ar Powe r Plant is a nuc le ar powe r plant lo c ate d in Daya Bay in L
ic t, She nzhe n, Guangdong, China; and to the nor th e ast o f Ho ng Kong.
CURRE NT NUCL E AR GROWT H PL AN
2020 2025 2040
Boost nuc le a r powe r c a pa c ity by more tha n 70% by 2020 Air Qua lity Impe ra tive – sc uttling of 85 c oa l- fire d powe r sta tions a nd inve sting US$ 365B into re ne wa ble e ne rg y, inc luding nuc le a r Bre a king g round on 6- 8 ne w units pe r ye a r (inc re a sing to 10 pe r ye a r post- 2020)
With insta lle d c a pa c ity o f 6 GWe
RE ACT ORS OPE RAT ING
Ca pa c ity o f 6 GWe
UNDE R CONST RUCT ION
T
PL ANNE D
Boost nuc le a r powe r c a pa c ity by more tha n 29% by 2019 Offic ia l Pla n – 15 GWe insta lle d by 2025 Ura nium buying spre e (long te rm c ontra c ts) – Ca na da , Ka za khsta n, Uzbe kista n) E sta blishme nt of “Stra te g ic Ura nium Re se rve ”
Go ve rnme nt a ppro ve d
PL ANNE D
NUCL E AR POWE R
NRA ha s re c e ive d 26 re a c to r re sta rt a pplic a tio ns
APPL ICAT IONS
F ive re a c to rs a ppro ve d fo r re sta rt
APPROVE D
F
sta rte d
RE ST ART E D
NUCL E AR POWE R
PL ANNE D
Go ve rnme nt a ppro ve d
10
PE RMIT T E D
F ully pe rmitte d ura nium
(1 o f o nly 4 in Austra lia )
T ARGE T
Sig nific a nt e xplo ra tio n ta rg e t Hug e 80+ km po te ntia lly mine ra lise d strike 2,600km2 unde re xplo re d ura nium pro vinc e 57.8mlb U
3O 8 JORC Re so urc e
INF RAST RUCT URE
$170m pla nt a nd infra struc ture in pla c e
L OW CAPE X
E xpa nsio n Study hig hlig hts lo w CAPE X e xpa nsio n US$57M to 2mlb pa a nd AISC o f US$24/ lb F urthe r e xpa nsio n to 3.6mlb pa
BOSS ha s a numbe r of a dva nta g e s ove r its pe e rs a nd like ly to be in produc tion soone r tha n ma ny.
E xisting Share s (ASX:BOE
)
1,007 millio n Pe rformanc e Rights* 60.5 millio n Options (va rio us) 40 millio n Marke t Capitalisation
(a t $0.07)
~$70.5 millio n T
~75%
Sha re ho lde r Bre a kdo wn
10
Sha re Pric e Mo ve me nt
13% 13% 8% 66%
Dire c to rs & Re la te d Pa rtie s Offsho re Ho lding s No mine e Co mpa nie s Hig h Ne t Wo rth & Re ta il
*10 million r ights: shar e pr ic e is gr e ate r than 7.5c for 20 c onse c utive ASX tr ading days. 4.5 million r ights: shar e pr ic e is gr e ate r than 8.5c for 20 c onse c utive ASX tr ading days. 13.3 million r ights: disc ove r y and de c ision to mine of 75kt Ni JORC r e sour c e
ights: disc ove r y and de c ision to mine of 125kt Ni JORC r e sour c e on Sc andinavian Pr
c e of U3O8 in the Me asur e d and Indic ate d c ate gor ie s fr
aste r n T e ne me nts at Hone ymoon Ur anium Pr
c e of U3O8 in the Me asur e d and Indic ate d c ate gor ie s fr
aste r n T e ne me nts at Hone ymoon Ur anium Pr
0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 01-Jul-16 01-Aug-16 01-Sep-16 01-Oct-16 01-Nov-16 01-Dec-16 01-Jan-17 01-Feb-17
11
re so urc e s in Austra lia
Austra lia with e xpo rt lic e nc e
m NW o f Bro ke n Hill, So uth Austra lia
ura nium pro vinc e
nhe rite d ma ssive da ta b a se - o ve r 5,300 drill ho le s – we a lth o f info rma tio n
a rg e ting >100mlb s re so urc e
n-Situ L e a c h re c o ve ry
X a nd OPE X c o sts
HONE YMOON URANIUM PROJE CT
$170M INF RAST RUCT URE AL RE ADY IN PL ACE Water Treatment Plant Camp Workshop Production Facility PLS Ponds Admin Buildings Control Centre Production Well Fields
SIGNIF ICANT E XIST ING HIGH GRADE RE SOURCE S – HIGHE ST GRADE AMONGST ASX- L IST E D PE E RS
Classific ation Million T
U3O 8 ppm Containe d U3O 8 (Mkg) Containe d U3O 8 (Mlb) Me asur e d
1.7 1720 2.95 6.5
Indic ate d
5.9 810 4.80 10.6
Infe r r e d
32.5 569 18.50 40.7
T
40.1 654 26.24 57.8
Note : F igur e s have be e n r
e sour c e s have be e n adjuste d to e xc lude pr e vious pr
Cove r ing the E aste r n and We ste r n T e ne me nt Re gions. Re por te d Above a pr e fe r r e d 250ppm U3O 8 lowe r c ut-off
14
15
L OWE ST CAPE X URANIUM PL AY ON ASX WHIL ST MAINT AINING L OW OPE X
ngine e r ing a nd ANST O
he E xpa nsio n Stud y wa s b a se d o n r
e sults fr
ations.
L UE X pro c e ss utilizing $170m e xisting infr
astr uc tur e
X re q uire d - US$7 millio n fo r pla nt re -sta rt plus US$57 millio n fo r the e xpa nsio n to 2mlbs / a nnum
e ~US$24/ lb U
3O 8
ur the r e xpansion to 3.6mlbs / a nnum U
3O 8 in ye a rs 4-5
28 Se pte mb e r 2016) fo r furthe r d e ta ils
aste r n T e ne me nt Re sour c e o f 32.8mlb U3O 8
xplo ra tio n T a rg e t o f 18- 47mlb U3O 8
ike km o f po te ntia l mine ra lisa tio n
ill r e ady tar ge ts - histo ric a l d rilling sho ws nume ro us
inte rc e pts >1,000ppm U
3O 8
hr e e pr ior ity r e gions – Ya rra mb a , Ja so ns a nd L
a wlo rs
–
e a rly po te ntia l fo r re so urc e d e finitio n
illing c omme nc e d o n Ja so n’ s De po sit Q4 2016
–
c urre nt re so urc e ~5mlbs U3O 8 e xpe c te d to inc re a se
–
infill d rill pro g ra m to inc re a se re so urc e s sub sta ntia lly
16
LAWLORS
Historical & Recent Drilling Intercepts
YARRAMBA NORTH JASONS
ML6109 - Honeymoon
.
E XPL ORAT ION POT E NT IAL
y hole s for 8,580m d rille d to F
e b rua ry 2017
–
High gr ade tr e nd >1,300m lo ng id e ntifie d in the
so uthe rn d rill re g io n
–
Ave ra g e g ra d e o f 1,458ppm e U3O 8
–
Ave ra g e thic kne ss o f 2.5m
ille d in southe r n high- gr ade zone
–
Co nfirms ro ll-fro nt re la te d mine ra lisa tio n o n re d o x b o und a ry
–
Mine ra lisa tio n in c o a rse to g ra ve lly sa nd s
ing hole s to b e pla c e d to a llo w fo r
e nviro nme nta l mo nito ring a nd pe rmitting
17
.
F IRST E XPL ORAT ION – SUCCE SSF UL
n T e ne me nt Re sour c e o f 25mlb U3O 8
xplo ra tio n T a rg e t o f 24- 53mlb U3O 8
imite d e xplo ra tio n pe rfo rme d to d a te o n va st pro spe c tive a re a s
ike km o f po te ntia l mine ra lisio n
r ate d:
–
12km str ike le ngth
–
Und e r d rille d hig hly pro spe c tive g ro und
–
F ur the r r e sour c e upgr ade s e stima te d fro m furthe r d rilling
alisation up to 3.5% U3O 8 id e ntifie d
18
E XPL ORAT ION POT E NT IAL
L
Proje c t Ac quisition
T
time s the re so urc e a t a c q uisitio n in De c e mb e r 2015
Re sourc e Upgrade d
L
X a nd OPE X study c o mple te d 2m – 3.6mlb pe r a nnum AISC ~US$24/ lb E xpa nsio n CAPE X US$57m
E xpansion Study
T a rg e t kno wn mine ra lise d a re a s fo r lo w c o st a dditio na l re so urc e
Comme nc e drilling Q4 2016 E xpansion PF S c omple te d Q2 2017 Comme nc e me nt of E xpande d Produc tion e stimate d mid 2019
Proje c t Ac tivitie s Q₃ 2016 Q₄ 2016 Q 1 2017 E nd 2017 Option Study Initial E xploration Re sourc e Upgrade - Jasons PF S E xpansion DF S E xpansion
F E ASIBIL IT Y PL ANNING SCHE DUL E
E xpansion DF S c omple te d Q4 2017
Ne w DF S is e sse ntia lly just a n e xpa nsion study to de rive e c onomie s of sc a le a nd re duc e unit ope ra ting c osts.
T E AM ASSE T S APPROVAL S L OW COST E xe c utive s with ur
a nium pe dig r e e,
pro je c t ma na g e me nt, de ve lo pme nt, fina nc ing , a nd o pe ra tio na l e xpe rie nc e Ho ne ymo o n Ura nium a sse t in So uth Austra lia Unde re stima te d ura nium pro vinc e
Sig nific a nt str ike e xte nsion pote ntia l
Ne c e ssa ry pe rmits in pla c e
Only non- pr
pr
a lia lic e nse d to be br
pr
He rita g e Na tive T itle mining a g re e me nts a ppro ve d E xpa nsio n Study hig hlig hts lo w CAPE X e xpa nsio n (US$57m)
2mlbpa a nd AISC of US$24/ lb
20
A fully built a nd pe rmitte d ope ra tion is a g re a t a dva nta g e .
Mr Bo we s is a pro c e ss e ng ine e r with 20 ye a rs’ e xpe rie nc e in me tallurg y, pro je c t mana g e me nt and o pe ra tio ns. He ha s wo rke d in Afric a , So uth Ame ric a and Australia fo r the ma jo r mining ho use s o n pro je c ts and plants c o ve ring a wide rang e o f c o mmo ditie s and pro c e sse s. He ha s be e n invo lve d in a numbe ro f te c hno lo g y de ve lo pme nts a nd ha s suc c e ssfully inc o rpo ra te d the se into va rio us pro je c ts a nd o pe ra ting pla nts.
Mr I nwo o d ha s 22 ye a rs’ inte rna tio nal multi-c o mmo dity pro je c t and c o nsulting e xpe rie nc e and ha s c o nsulte d o n uranium pro je c ts in Australia , Afric a , the USA a nd So uth Ame ric a . MrInwo o d is a F e llo w o f the Austra lia n Institute o f Mining a nd Me ta llurg y.
21
van Cr anston Cor
por ate Dir e c tor
MrCra nsto n is a c o rpo ra te la wye r with e xpe rie nc e in pub lic ly liste d e ntitie s inc luding c a pita l ra ising s, o ffe ring s, a nd lia iso n with ma rke t a na lysts a nd inve sto rs.
at Abzalov Dir
e c tor
Dr Ab za lo v ha s a PhD in Ge o lo g y. Ma ra t ha s re c e ntly c o mple te d a n invite d study o f ISL style s o f mine raliza tio n, inc luding tho se in Austra lia . He is a lso a n e x-E xplo ratio n ma na g e r fo r Rio T into E ura sia , with e xte nsive e xpe rie nc e in K a za khsta n ura nium pro je c ts.
Williams Dir
e c tor
MrWillia ms is a n e xplo ra tio nist/ g e o physic ist with o ve r 30 ye a rs e xpe rie nc e . He ha s e xte nsive e xpe rie nc e in We st Afric a , Austra lia , F e nno sc a ndia, a nd Ca na da.
ant Dave y Dir
e c tor
MrDa ve y is a mining e ng ine e r with 20 ye a rs o f se nio r ma nag e me nt a nd o pe ra tio nal e xpe rie nc e in the c o nstruc tio n a nd o pe ra tio n o f Ura nium, g o ld, pla tinum a nd c o a l mine s in Afric a , Austra lia , So uth Ame ric a a nd Russia .
k Hohne n Chair
man
Mr Ho hne n ha s e xte nsive inte rna tio nal b usine ss e xpe rie nc e in a wide rang e
is c urre ntly a Bo a rd me mb e r o f Swa ko p Uranium and wa s the fo unding E xe c utive Chairman o f K a la hari Mine ra ls Plc .
aib Chie f E
xe c utive Offic e r
Mr Cra ib ha s b e e n a ppo inte d to le a d the ne xt sta g e
de ve lo pme nt fo r the Pro je c t. Mr Cra ib is e x-F ina nc e Dire c to r to Swa ko p Ura nium (Pty) L td a nd e x-CF O to K alaha ri Mine rals Plc . Mr Cra ib ha s b e e n he avily invo lve d in the US$2.5 b illio n de ve lo pme nt and c o nstruc tio n o f the ne a r c o mmissio ning Husab ura nium mine in Na mibia.
22
ASX L IST E D ST OCKS - BOSS is hig hly le ve ra g e d to ura nium pric e inc re a se s.
Compa ny Initia l Ca pe x (US$) Mining Pe r mit Re sour c e mlb Gr a de ppm Mining T ype Ma r ke t Ca p 1 (AUD$) E V1 (AUD$) E V / R e sour c e C1 Costs (US$/ lb) Pe ninsula R e sour c e s (ASX:PEN)
$33.0m 2 (sta g e 1)
54 476 ISL 135.7 $161.1 $3.0 $29.2
Be r ke le y R e sour c e s (ASX:BK Y)
$95.7m3
89 514 Ha rd ro c k Ope n pit 293.9 $252.6m $2.8 $13.3
Boss R e sour c e s (ASX:BOE ) Constr uc te d E xpa nsion $57m
58 654 ISL 69.5 $67.8m 4 $1.2 $16.0 T
ne r g y (ASX:T OE)
$193.5m5
84 482 Bulk surfa c e Ope n pit 110.4 $114.5m $1.4 $31.0
Vimy (E ne r g y & Mine r a ls) (ASX:VMY)
$287.6m6
77 520 Surfa c e Ope n pit 76.0 $67.8m $0.9 $31.3
(5) ASX:T OE Announc e me nt 05/ 12/ 2016 – Cost be ne fits fr
(6) ASX:VMY Announc e ment 17/ 11/ 2015 – Re sults Pr e -F e asibility Study – Mulga Roc k Pr
Assume d e xc hange A$1:US$0.75 – e xc luding VMY CAPE X c alc ulation Note s: (1) IRE SS – 01/ 02/ 2017, Quar te r ly Ac tivity/ Cashflow Re por ts 31/ 12/ 2016 (2) ASX:PE N Announc e me nt 12/ 07/ 2016 – Company Pr e se ntation July 2016 (3) ASX:BKY Announc e me nt 04/ 11/ 2016 – Inve stor Pr e se ntation (4) Inc lude s pr
y $6.8m c apital r aise (5) ASX:T OE Announc e me nt 05/ 12/ 2016 – Cost be ne fits fr
(6) ASX:VMY Announc e ment 17/ 11/ 2015 – Re sults Pr e -F e asibility Study – Mulga Roc k Pr
Assume d e xc hange A$1:US$0.75 – e xc luding VMY CAPE X c alc ulation
23
COST ANAL YSIS – ASX Ura nium Compa nie s
Pe ninsula (USA)
ASX:PE N 2.3mlb pa (Sta g e 3) CAPE X $150m AIC $29/ lb
Banne r man (Namibia)
ASX:BMN 7mlb pa (L OM) CAPE X $793m OPE X $38/ lb
A-Cap (Botswana)
ASX:ACB 2.2mlb pa CAPE X $351m OPE X $41/ lb
Be r ke le y (Spain)
ASX:BKY 4mlb pa CAPE X $230m ($95m initia l) AIC $17/ lb
T
alia)
ASX:T OE 2mlb pa CAPE X $240m C1 Co st $31/ lb (AIC no t q uo te d)
Vimy (Austr alia)
ASX:VMY 3mlb pa CAPE X $290m C1 $31 AIC $49/ lb
Boss (Austr alia)
ASX:BOE 2mlb pa CAPE X $57m AIC $24/ lb
Paladin (Namibia)
ASX:PDN In pro duc tio n 4.75mlb pa OPE X $38/ lb
Athabasc a Basin (Canada)
Ultra hig h g ra de 1% plus Ho we ve r ultra hig h c o sts T ypic a l CAPE X ~ $1 Billio n T ypic a l OPE X $20-30/ lb
Kazakhstan
Pro duc e s ~ 40% wo rld ura nium ISL pro duc tio n T ypic a l OPE X $20-30/ lb
Contac t de tails: Dunc an Cr aib Chie f E xe c utive Offic e r +61 (0) 488 038 967 dunc an@bossr e sour c e s.c om.au Suite 23, 513 Hay Str e e t Subiac o, WA 6008 +61 8 6143 6739