Cinepänz 2014 LINK - JugZ

MOZAMBIQUE MINERALS, AUSTRALIAN EXPERTISE,
UNIVERSAL POTENTIAL
General Shareholders Meeting
28 November 2014
Corporate Snapshot
Capital Structure
Share Price Graph (ASX:TON)
At 27 November 2014:
Shares on Issue - 310,101,731
Unlisted Options – 11,203,600 (ex. at $0.10)
Unlisted Options – 5,000,000 (ex. $0.70)
Unlisted Options – 5,000,000 (ex. $1.00)
Performance Rights – 15,000,000
27 November 2014
Directors & Major Shareholders
Alan Jenks – Non Executive Chairman
Brad Boyle – CEO & Managing Director
Alf Gillman – Executive Director
Directors Hold: 43,338,110 shares (~14%)
Top 20 shareholders hold 46%
Diamond drill core from the Nicanda Hill prospect at Balama North project.
Investment Highlights
World’s largest Graphite & Vanadium
Deposit
Telecommunications
Approx 60 kms
to Pemba
Approx 230 kms
to Pemba
Airport
Triton holds 80% interest in 3 Graphite Projects in
Mozambique, moving to 100% as of recently
signed acquisition deal with Grafex Ltd
•
6 granted exploration licenses and 2
applications, covering a total area of about 1,150
square kilometres
•
Large flake Graphite identified at the Balama
North, Balama South and Ancuabe projects
•
Multi-element deposit: Graphite, Vanadium, Zinc
and Titanium.
•
Easy access to sites and adjacent to all required
infrastructure for future project development
needs, including Pemba natural deep water port
•
Strong Local Community and Federal
Government support
•
Rapid development program underway at
Nicanda Hill deposit
Deep Water Port
Mains Power
Water
•
Main Highway
International Airport
Overview of the Balama and Ancuabe exploration license areas
Nicanda Hill Graphite & Vanadium Deposit
The Nicanda Hill Mineral Resource estimate comprises 1,457 Million Tonnes (Mt) at an average
grade of 10.7% Total Graphitic Carbon (TGC) and 0.27% Vanadium Pentoxide (V2O5), classified
Inferred or Indicated.
15%TGC cut off in the Nicanda Hill deposit, 28.1Mt of graphitic material, average grade of
15.8%TGC contained in Mutola, Grande and Macico (MGM) high grade graphite zones.
Nicanda Hill JORC Resource (21 October 2014) completed in accordance with the JORC Code, 2012 edition,
summarised in Table 1.
Classification
Tonnes
Grade
Contained Graphite
Grade
Contained V2O5
(Mt)
(TGC%)
(Mt)
(V2O5%)
(Mt)
Indicated
328
11.0
36.1
0.26
0.85
Inferred
1,129
10.6
119.7
0.27
3.05
Total
1,457
10.7
155.9
0.27
3.93
Nicanda Hill October 2014 Mineral Resource Estimate Table (reported using block model zero cut-off grade). Note that some of the numbers may not equate fully due to the effects of rounding.
Competent Person’s Statement
The information in this report that relates to Mineral Resource estimate at the Nicanda Hill deposit on Balama North project is based on, and fairly represents, information and supporting documentation prepared by
Mr Mark Drabble, who is a Member of the Australasian Institute of Mining & Metallurgy. Mr Drabble is not a full-time employee of the Company. Mr Drabble is employed as a Consultant from Optiro Pty. Ltd. Mr
Drabble has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the
2012 Edition of the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code)’. Mr Drabble consents to the inclusion in this report the exploration results and the supporting information
in the form and context as it appears.
Nicanda Hill Deposit (Cont.)
•
Nicanda Hill deposit defined in 6 months from
commencement of drilling
•
Hydrothermal (Mutola) zone averages nearly 12% TGC and
Macico and Grande high grade graphite zones average 11%
TGC
•
Graphite mineralisation open along strike and at depth
•
Nicanda Hill mineralisation foot print 6.2kms long (5.2km²)
•
The horizontal width of the graphite mineralization at surface
is expanded to 1,100m and still remains open to the
northwest
•
High grade large flake graphite intersected (up 34.1% TGC) in
Diamond Drilling.
•
Diamond drilling confirms mineralisation from surface to
over 400 vertical metres, open at depth
•
Environmental and Social Impact studies underway
•
DUAT License application submitted
•
Preparing Mining License application
•
Finalising tenders for process engineering, mine and
transport infrastructure design. DFS by end of 2015
Plan showing conceptual pit outline associated with the high grade Mutola, Grande and Macici graphite zones.
Nicanda Hill Deposit(Cont.)
Nicanda Hill Cross section N7 showing arrangement and geometry of resource model with conceptual open pit overlays
Nicanda Hill Deposit(Cont.)
Shallow open pit operation, focused initially, on the MGM graphite zones and accessed by three separate ramps. The
shallow nature of the open pit operation combined with a dilution grade averaging 8%TGC, represents exceptionally low
technical risk.
Average grades for the first five years to be in excess of 13%TGC.Initial waste to ore strip ratio averages 0.84:1, with the Life
of Mine (LOM) strip ratio be approximately 1:1. The majority of the waste material averages approximately 8%TGC.
Conceptual open pit design by Optiro for a 30 year mine life. The pit is approximately 3kms long and averaging 200m wide and
60m deep
Scoping Study Results
KEY OUTCOMES
The key outcomes from the positive and robust Optiro Scoping Study report are
outlined and summarised below:

Estimated initial capital cost US$110 million which includes contingencies;

LOM free cash flow of US$624/t;

Estimated average mine gate cost of production at US$250/t;

Free on Board cost (FOB) Port of Pemba estimated average cost at US$315/t;

Positive cash flow within 2 months of commission; and

Payback period within approximately 10 months of commission.
Approximately 328Mt of the Nicanda Hill Mineral Resource estimate is in the Indicated Resource Classification. The
Scoping Study is based entirely within this Indicated portion of the global resource.
The mining inventory on which the Scoping Study is based, comprises 51Mt grading 12.4%TGC for a contained 6.3Mt
flake graphite. Vanadium-credits were not included in the Scoping Study but form part of the future project upside.
Preliminary Metallurgical
& Mineralogical Analysis
• High purity graphite concentrate of 94-97%TGC may be produced on site through simple flotation
• Exceptional purity of 99.9%C achievable from graphite concentrate
• Vanadium and zinc occur as credits and may be recovered as a concentrate without difficulty
• Vanadium concentrate grades of up to 0.74% V2O5 achieved to date
• Zinc concentrate grades of up to 7%Zn achieved to date
• Additional metallurgical work underway to refine the recovery processes
• Mineralogical tests demonstrated 23% of the graphite samples were very large flake which are 212µm or larger
• Other base metals, including titanium, in the tailings
• The tests verify low levels of volatiles and impurities
• Graphite concentrates with a weighted average purity of 97.1%TGC,
2.7% Ash and 0.2% Volatiles, no need for chemical treatment
Image of the graphitic material being liberated using a
flotation method at the ALS Metallurgy laboratory
Project Development Timeline
Targeted project timeline for development of the Nicanda Hill graphite deposit, subject to obtaining the relevant funding and regulatory approvals
Further Exploration Potential
•
Charmers, Black Hills, Nacugi and Western prospects to be tested
•
Preliminary data from VTEM survey identifies new P1 and P2 targets Balama North project
•
VTEM survey data pending for Ancuabe and Balama projects
•
Potential to identify further near surface, large flake high grade graphitic mineralisation
Overview of the new anomaly on License 5365 identified by the recent VTEM survey
Corporate Social Responsibility
Balama North Project
Local Villages (Approx. 20,000 people)
•
Mapapulo
•
Nicanda
•
Napavale
•
Nacugi
•
Naropa
Ongoing Support Programs
•
Water Bores
•
Review of School and Medical facilities
•
Sustainability programs being considered
sourced from www.thebutterflytree.org.uk
Employment and Training
•
4 x Mozambique Geologists
•
4 x Mozambique Field Hands/Labourers
•
Approx. 120 local villagers employed over last 18
months
•
Using local service providers
•
•
•
Drilling/Logistics/Transportation/Supplies
Housing/Vehicle hire
Lawyers/Accountants/Customs Agents
Triton geologists and field hands cutting diamond core at Nicanda Hill prospect
Future Outlook
•
Triton in preliminary discussions with a number of groups for potential off-take agreements
with companies in Europe, North America, Japan and China.
•
Triton actively exploring all options and opportunities to secure agreements to provide long
term value for all stakeholders in the graphite and carbon sectors.
•
Ideally located in East Africa, with established infrastructure and local community and
government support.
•
Triton has an aggressive development program for the Nicanda Hill deposit.
•
Predicted strong future global demand for flake graphite and vanadium
Conclusion
•
Nicanda Hill is the largest high-grade flake graphite and vanadium deposit in the world:
1.457 Bt at 10.7% TGC and 0.27% V2O5
•
High grade graphite concentrates of up 97.3% TGC from traditional flotation methods
•
Exceptional purity of 99.9%C achievable from graphite concentrate
•
Vanadium Pentoxide (0.74% V2O5) and Zinc (7%) concentrates from flotation methods
•
Metallurgical, Petrographic test work and Feasibility Studies continue at Nicanda Hill
•
Large flake graphite and Vanadium identified at Balama South and Ancuabe Projects
•
Aggressive development timeline to be in graphite production by Q1 2017
•
Triton is aiming to become a global and market leading low cost high grade graphite and
vanadium producer.
Contact Details
Brad Boyle
CEO & Managing Director
Triton Minerals Ltd
(ACN: 126 042 215)
278 Barker Road, Subiaco WA 6008
Tel: +61 8 6489 2555
Fax: +61 8 9388 1252
[email protected]
Media & Investor Enquiries:
Fortbridge +612 9003 0477
Bill Kemmery
Tel: +61 400 122 449
Email: [email protected]
Diamond drill core from Nicanda Hill prospect on License 5966 showing graphite and vanadium.
Competent Person Statement
The information in this announcement that relates to Exploration Results on Balama North project is extracted from the reports entitled ASX Release “Balama North Project Update” created 5 March 2014, ASX Release “Positive Metallurgical Results For Nicanda
Hill” created 16 September 2014, ASX Release “Further Positive Drilling Results From Nicanda Hill” created 9 October 2014, ASX Release “Nicanda Hill Maiden Jorc Resource – 1.457 Billion Tonnes At 10.7%TGC And 0.27% V2O5”, created 21 October 2014, ASX
Release “Solid Drilling Results Continue At Nicanda Hill” dated 30 October 2014, ASX Release “Nicanda Hill Scoping Study”, dated 26 November 2014, ASX Release “Nicanda Hill Update”, dated 28 November 2014 and is available to view on
www.tritonmineralsltd.com.au The reports were issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company confirms that it is not aware of any new
information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources that all 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 announcement.
The information in this announcement that relates to Exploration Results on Ancuabe project is extracted from the reports entitled ASX Release “High Grade Large Flake Graphite Identified at Ancuabe Project” dated 31 October 2013 and is available to view on
www.tritonmineralsltd.com.au The reports were issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company confirms that it is not aware of any new
information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all 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 announcement.
Board
Alan Jenks - Non Executive Chairman
Mr. Alan Jenks has over 20 years experience in early stage investments in the junior resource sector. Mr. Jenks’s has predominantly focused on companies
which have key projects located in the Australian and African continents.
Mr. Jenks obtained a vast knowledge of South African PGM exploration companies in and around the Bushveld complex. Subsequent to this Mr. Jenks in 2001
had the oversight to successfully build a platinum group metals recycling company, Catalytic Converters Recycling Services Ltd (“CCRS”). Mr. Jenks is the
Managing Director of CCRS, which is a company that specializes in the extraction and recovery of precious metals from spent catalytic converters.
Mr. Jenks has become a key cornerstone investor in Triton and has actively supported the growth and development of the Company, including with its move into
the graphite sector with the acquisition of the key graphite projects in Mozambique. Mr. Jenks continues that support of Triton and has established a large group
of UK based investors for the Company.
Brad Boyle – CEO & Managing Director
Mr Boyle is an experienced Managing Director of listed and unlisted resource and energy companies. Mr Boyle is the founder of Monolithic Corporate Group
which is a Legal and Corporate Compliance service company, based in Subiaco. Mr Boyle also has extensive experience as legal counsel and company
secretary. Previously, Mr Boyle acquired a diverse range of corporate and private practice experience acting for mining, commercial and government clients
across a broad range of sectors. He also has extensive litigation experience including representing clients in mediations, Federal, Supreme, District and
Magistrates Courts.
Mr Boyle has previously been the Managing Director of Sprint Energy (ASX:SPS) two Not-For-Profit organizations. Mr Boyle is a Chartered Company Secretary,
having obtained a Graduate Diploma in Corporate Governance and a Graduate Diploma in Business Administration and is a member of the Australian Institute
of Company Directors, WA Law Society and the Australian Corporate Lawyers Association.
Alf Gillman – Executive Director
Mr Gillman has over 30 years of experience as a geologist in gold, base metals and uranium. He has extensive experience in exploration and project
development in various parts of the world including Australia, Papua New Guinea, Africa, the United States, Russia and Central Asia.
For most of Mr Gillman’s career, he has held senior management positions, including Group Exploration Manager of Harmony Gold and he is a Fellow and
Chartered Professional of the Australian Institute of Mining and Metallurgy. Mr Gillman currently serves as Technical Director for Peninsula Energy Ltd (ASX:
PEN), Managing Director of the geological consulting firm Odessa Resources Pty Ltd and is Managing Director of the private exploration company, Dakar Gold
Pty Ltd.
THANK YOU

Download Report