We know Rare Earths are there How much?
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Presentation September 2011 Shooting for the stars 1 Disclaimer - - PowerPoint PPT Presentation
We know Rare Earths are there How much? Presentation September 2011 Shooting for the stars 1 Disclaimer THIS DOCUMENT (DOCUMENT) IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THE DISTRIBUTION OF THIS
We know Rare Earths are there How much?
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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. 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Galileo is Focused
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4 Glenover Phosphate Project
Brightwater Quarry Project Calais 470 Santoy 230 Matesang 492 Gamasep 485 Portion 1: Gamaliets 659 Leinster 222 Portion 1: Waldeck West Kapok 733
Projects Exploration sites
We are diverse with one big project: Glenover Phosphate
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Who knew much about Rare Earths two years ago. Chinese changed that!
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Source: Technology Minerals The Rare Earths race is on! Ernst & Young April 2011
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Jul 2010 Beijing slashes export quotas for the second half of 2010, making them 40 per cent lower than 2009 Nov 2010 China resumes shipments of rare earths to Japan Sep 2010 Japanese traders say China has halted rare earth shipments to Japan, following a diplomatic
Dec 2010 Export quotas for the First half of 2011 are kept on par With 2010 on an annualised basis Feb 2011 China’s State Council says it will Strengthen oversight of the Rare earths industry Jul 2011 Beijing brings 2011 export Quotas to the same level as 2010, But a technical change means that Exports will effectively be reduced By about 10 per cent Apr 2011 The Environment Ministry announces Inspections of rare Earth firms Jun-Aug 2011 Many rare earths Processors close for Upgrades to conform To new regulations Aug 2011 Beijing begins a Campaign to find and close Illegal mines. Local governments Are given until November to Close mines in their area
Source FT Research: Chinese Government
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It is all about today’s life
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Early production opportunities, huge medium term potential
Resource Above Surface (indicated/inferred) Below Surface (indicated/inferred) Mineralization P2O5 +33% TREO 1,75% Nb2O5 0.25% 280,000 Breccia Apatite, Monazite, Cerianite P2O5 28-33% TREO 1,75% Nb2O5 0.3% 400,000 Breccia Apatite, Monazite Cerianite P2O5 20-28% TREO 1,6% Nb2O5 0.55% 2,500,000 Breccia Apatite, Monazite Cerianite P2O5 8-20% TREO 1,6% Nb2O5 0.5% 5,000,000 Breccia Apatite, Monazite Cerianite P2O5 3-8% TREO ? 120,000,000 Pyroxenite Laterite Nb2O5 at 0.68% 2,250,000 Pyrochlore, Columbite, Samarskite
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PHOSPHATE/REE INDICATED/INFERRED RESOURCE
We have a big Stockpile already. No mining risk there!
Total Rare Earth Oxides (“TREO”)
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45% 20% 19% 6% 3% 2% 1% 4%
Cerium Neodymium Lanthanum Praseodymium Erbium Yttrium Europium Other
Breakdown of REE contained in above ground stockpile SAMPLE & ANALYSIS (SUMMARY)
Good spread of much sought after elements
Size Fraction Mass (%) discrete Grade (%) Mg Al Si Ca Ti Mn Fe2O3 P2O5 Nb La [ppm] Nd [ppm] Eu [ppm] Y [ppm] Pr [ppm] Ce [ppm] Er [ppm] Total REO [ppm]
49.7 0.56 0.64 3.18 21.10 1.23 0.28 25.81 22.02 0.47 3260 3590 149 266 977 7470 404 16807
36.4 0.39 0.43 2.00 32.20 1.21 0.27 23.88 25.20 0.53 2880 3020 137 268 864 6970 314 15033
13.9 0.62 1.82 3.28 13.60 1.16 0.54 38.46 15.24 0.90 2900 2950 144 318 865 7220 775 16031 100.0 0.51 0.73 2.76 20.82 1.21 0.31 26.87 22.23 0.55 3064 3294 144 274 920 7253 423 16031 Size Fraction Mass (%) discrete Distribution (%) Mg Al Si Ca Ti Mn Fe2O3 P2O5 Nb La Nd Eu Y Pr Ce Er Total REO
49.7 55.0 43.7 57.1 50.4 50.4 44.5 47.7 49.2 42.3 52.9 54.2 51.4 48.2 52.8 51.2 47.5 52.1
36.4 28.0 21.5 26.3 36.3 40.5 31.4 32.3 41.2 34.9 33.9 33.3 34.7 35.6 34.1 34.9 27.0 34.1
13.9 17.0 34.8 16.5 13.3 9.1 24.1 19.9 9.5 22.7 13.2 12.5 14.0 16.2 13.1 13.9 25.5 13.8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
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Good values in stockpiled material
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Glenover Open Cast Mine Developed by Goldfields – mining stopped in 1990’s Glenover Dumps
Lots of action before we got there!
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Milestone Stage Detail Development Costs (USD) Project CAPEX (USD) Duration (mo) Cumulative Duration (mo) Milestone 1 Accuracy to 15% Conceptual Mineralogy Scoping Study 90,000 4 12 Resource Definition A/S: Drilling B/S: Drilling 812,000 TBC 8 Pre- Feasibility Minerals Engineering Hydromet 420,000 8 Milestone 2 Accuracy to 30% Definitive Feasibility Pilot Plant 3,300,000 12 18 Milestone 3 Ballpark accuracy Beneficiation Ore Dressing Pre- concentratio n TBC 14 32 Mixed REO TBC 14 32
Refining N/A 24 42
Moving fast to supply the market demand
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PIT1 – Contains a reserve of 4.3 million tons of good quality aggregate at a thickness of 30m – Potentially mine the pit at depths up to 60m – 90% of the rock comprising Pit 1 is fully exposed PIT2 – Contains a resource of 5.8 million tons of good quality aggregate – Easily extractable at an average depth of 30 m
aggregates Good position and complements main Glenover mission, aim is to minimise equity dilution to shareholders
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Exploration Site Location Rights details and status
Remainder portion 1 Waldeck West no 254 110km from Upington, Northern Cape, RSA Prospecting right granted for Manganese and Iron Ore Remainder portion 1 Gamaliets no 659 30km from Olifantshoek, Northern Cape, RSA Prospecting right granted for Manganese and Iron Ore Kapok 733 140km from Upington, Northern Cape, RSA Letter of grant received for Manganese and Iron Ore prospecting right ; Holder to pay rehab guarantee for right to be granted Gamasep 485 24km from Olifantshoek, Northern Cape, RSA Letter of grant received for Manganese and Iron Ore prospecting right ; Holder to pay rehab guarantee for right to be granted Leinster 222 13km from Hopetown, Northern Cape, RSA Letter of grant received for Manganese prospecting right; Holder to pay rehab guarantee for right to be granted Santoy 230 80km from Kuruman, Northern Cape, RSA Letter of grant received for Iron Ore prospecting right; Holder to pay rehab guarantee for right to be granted Matesang 492 100km from Kuruman, Northern Cape, RSA Letter of grant received for Manganese and Iron Ore prospecting right ; Holder to pay rehab guarantee for right to be granted Calais 470 JN 95km from Mafikeng, Northwest, RSA Letter of grant received for Manganese and Iron Ore prospecting right ; Holder to pay rehab guarantee for right to be granted Farm 313 Near Umtata, Eastern Cape, RSA Mining right granted for Stone Agregate
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Good rights in highly prospective environments
Mission clear. Direction clear. Getting on with it
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Colin Bird (British) Executive Chairman
Colin Bird is a chartered mining engineer with multi commodity mine management experience in Africa, Spain, Latin America and the Middle East. He has been the prime mover in a number of public listings in the UK, Canada and South Africa and is currently non-exec chairman of Jubilee Platinum plc. Colin was the founder and Chairman of the highly successful Kiwara plc.
Anthony Shakesby (British) Finance Director
Mr Shakesby is a graduate chartered accountant, who qualified with Price Waterhouse. He joined a quoted property and leisure company as a corporate planner, before moving as Finance Director to a quoted company in the health food business. He assisted Mr Wollenberg in the reverse takeover of numerous companies. As a self employed business consultant, Mr Shakesby has acted as head of finance to a number of public and private companies in a variety of sectors, including support services, aviation, distribution and
holding company with trading subsidiaries in the UK and Germany.
Andrew Sarosi (British) Technical Director
Andrew is a mineral processing engineer and consultant with 35 years’ experience in developing, managing, commissioning and troubleshooting in gold and silver ore, tungsten, tin, copper and zinc ore processing plants in Saudi Arabia, Ethiopia, South Africa and the United Kingdom. He is currently a consultant to the mineral resources industry and an advisor to Lion Mining Finance
and Schnellmann. Andrew is currently a director of Jubilee Platinum plc.
Christopher Molefe (South African) Non- Executive Director
Christopher is the former Chief Executive Officer of Royal Bafokeng Resources and is currently the Non- executive Chairman of Merafe Resources, a Non-executive Director of Capital Oil and a non-executive director of Jubilee Platinum plc . He has held several positions in corporate banking and industry for the past 20 years, including Manager of Corporate Affairs at Mobil Oil Southern Africa, Executive Director of the Black Management Forum, Financial Analyst at Chase Manhattan Bank, Marketing Manager at African Bank Limited, Executive Manager at Transnet (Propnet), and Executive Director at Dipapatso Media.
Richard Wollenberg (British) Non- Executive Director
Richard Wollenberg was appointed director of The Cardiff Property Plc in 1980, became chief executive in 1981 and chairman in 1989. Richard has over 30 year's experience in property investment and developments and has been actively involved in a number of corporate acquisitions and flotations. He is executive director of Campmoss Property Company Limited and General Industries Plc, which is quoted on PLUS Markets.
Lots of experience, commitment and achievement
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Sound Advisory Team
20 Registered Office
4th floor, 2 Cromwell Place London SW7 2JE
Company Secretary
Anthony Shakesby
Nominated Adviser (and Broker)
Beaumont Cornish Limited 2nd Floor, Bowman House 29 Wilson Street London EC2M 2SJ
Solicitors to the Nominated Adviser
Fladgates 16 Great Queen Street London WC2B 5DG
Reporting Accountants
Saffery Champness Lion House, Red Lion Street London WC1R 4GB
UKSolicitors to the Company
Morgan Cole Bradley Court Park Place Cardiff CF10 3DR
RSA Solicitors to the Company
Falcon & Hume Incorporated Attorneys Block B, 7 Eton Road Sandhurst Sandton Johannesburg
BVI Solicitors to the Company
Appleby Global 2nd Floor 2 Royal Exchange Buildings London EC3V 3LF
Bankers
Bank of Scotland 600 Gorgie Road Edinburgh EH11 3XP Investec Private Bank 2 Gresham Street London EC2V 7QP
Registrars
Neville Registrars Neville House, 18 Laurel Lane Halesowen West Midlands B63 3DA
Public Relations
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Reverse Takeover Aim listed and realistic entry market capitalisation
Well balanced with above average Rare Earth Project
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United Kingdom: Colin Bird 4th Floor 2 Cromwell Place South Kensington SW7 2JE Tel: +44 (0)207 581 4477 Fax: +44 (0)207 589 7806 South Africa: Unit 8, Block B, 1st Floor, Stoney Ridge Office Park, Cnr Witkoppen and Waterford Place Kleve Hill Park, Paulshof, 2068 Tel: +27 (0)11 465 1913 Fax: +27 (0)11 234 6411 info@galileoresources.com Richard Wollenberg 56 Station Road Egham Surrey TW20 9LF United Kingdom Tel: +44 (0)17844 37 444 Fax: +44 (0)1784 439 157 Email: webmaster@general- industries.co.uk
We are easy to reach
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