MINCOR AUDIO BROADCAST VIA BOARDROOM RADIO

Transcription

1 ASX ANNOUNCEMENT Friday, 4 June 2010 MINCOR AUDIO BROADCAST VIA BOARDROOM RADIO MINCOR RESOURCES NL (ASX: MCR) provides Shareholders and other interested parties with the opportunity to listen to an audio broadcast with Mr David Moore, Managing Director presenting at the ASX Small to Mid Caps Conference held in Singapore on 27 May We also attach the presentation as delivered. To listen, simply type the address below into your web browser: brr.com.au/event/ ENDS - Mr David Moore, Managing Director Mincor Resources NL Tel: (08) Mincor is a leading Australian nickel producer. The Company is listed on the Australian Securities Exchange and forms part of the benchmark S&P/ASX 200 Index. Mincor operates two mining centres in the world class Kambalda Nickel District of Western Australia, and has been in successful production since Page 1

2 ASX SMALL TO MID CAPS CONFERENCE Singapore, May 2010

3 IMPORTANT NOTICE DISCLAIMER This presentation ("Presentation") has been prepared by Mincor Resources NL ("MCR") based on information available to it from its own and third party sources and is not a disclosure document. By retaining this Presentation, you (the Recipient) acknowledge and represent to MCR that you have read, understood and accept the terms of this Important Notice. If you do not accept these terms, you should immediately destroy or delete this Presentation. This Presentation does not purport to contain all the information that a prospective investor may require in connection with any potential investment in MCR or its underlying business. Each Recipient must make its own independent assessment of MCR before acquiring any securities in MCR ("Securities"). You should not treat the contents of this Presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters. Before acquiring any Securities, you should consult your own advisers and conduct your own investigation and analysis in relation to MCR. No representation or warranty is made by MCR or any of its advisers, agents or employees as to the accuracy, completeness or reasonableness of the information in this Presentation or provided in connection with it. No information contained in this Presentation or any other written or oral communication in connection with it is, or shall be relied upon as, a promise or representation and no representation or warranty is made as to the accuracy or attainability of any estimates, forecasts or projections set out in this Presentation. No liability will attach to MCR or its advisers with respect to any such information, estimates, forecasts or projections. MCR does not accept responsibility or liability for any loss or damage suffered or incurred by you or any other person or entity however caused (including, without limitation, negligence) gg relating in any way to this Presentation including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused (including without limitation, where caused by third parties), lack of accuracy, completeness, currency or reliability or you, or any other person or entity, placing any reliance on this Presentation, its accuracy, completeness, currency or reliability. MCR does not accept any responsibility to inform you or any matter arising or coming to MCR's notice after the date of this Presentation which may affect any matter referred to in this Presentation. Any liability of MCR, its advisers, agents and employees to you or to any other person or entity arising out of this Presentation including pursuant to the Australian Securities and Investments Commission Act, 2001, Corporations Act 2001 and the Trade Practices Act 1974 or any other applicable law is, to the maximum extent permitted by law, expressly disclaimed and excluded. The distribution of this Presentation may be restricted by law in certain jurisdictions. Recipients, and any other persons who come into possession of this Presentation must inform themselves about, and observe any such restrictions. Future Matters This Presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of MCR. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of MCR may be influenced by a number of factors, many of which are outside the control of MCR. No representation or warranty, express or implied, is made by MCR or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause MCR's actual future results, performance or achievements to be materially different from those expected, planned or intended, Recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects. MCR does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.

4 MINCOR RESOURCES NL OVERVIEW Leading Australian nickel producer Part of benchmark S&P/ASX 200 Index Average Turnover: ~ 1.2M shares daily 200M issued shares, 1.5M employee options Market Cap: ~ $300 million TRACK RECORD Established nickel producer since 2001 Cumulative profits to date: $244M Cumulative dividends to date: $86M Equity production to date: % for 112 KT Ni Total Shareholder Returns since founding (1999): >5,000% SHAREHOLDERS ~ 40% Domestic Institutional Substantial: Black Rock (5.3%); Macquarie (5.2%) ~ 15% Foreign Institutional ~ 45% Domestic Retail

5 MINCOR RESOURCES NL FINANCIALS FY2010 Half-Year Profit: $14.2M FY2010 Half-Year EBITDA: $39.9M FY2010 Half-Year free cash: $24M (after capex, dividends) Dividends: FY2009-6cps total, FY2010: 3cps interim March 2010 Cash + Net receivables: $110M Debt: No debt ASSETS FUTURE VISION Major position in world-class Kambalda Nickel District Four operating nickel mines, a fifth re-opening in June Dedicated, experienced and successful work-force Copper, Zinc and Gold exploration assets outside Kambalda Grow the successful Kambalda Nickel Business Grow a pipeline of substantial gold and base metal assets outside of Kambalda Goal: Australia s Premier Mid-Cap Mining Company Purpose: Maximise Total Shareholder Returns

6 MINCOR OFFERS: Cashflow, Profits and Dividends Cumulative Half Year Profits Cumulative Half Year Dividends Jun 01 Dec 01 Jun 02 Dec 02 Jun 03 Dec 03 Jun 04 Dec 04 Jun 05 Dec 05 Jun 06 Dec 06 Jun 07 Dec 07 Jun 08 Dec 08 Jun- 09 Dec- 09

7 MINCOR OFFERS: Cashflow, Profits and Dividends With strong leverage to the Nickel Price Nickel Mincor

8 MINCOR OFFERS: Cashflow, Profits and Dividends With strong leverage to the Nickel Price An established and sustainable business Cumulative Nickel Production and Year-End Reserves T o n n e s Year End Reserves Cumulative Nickel Mined Pre-Mining

9 MINCOR OFFERS: Cashflows, Profits and Dividends With strong leverage to the Nickel Price An established and sustainable business In a dynamic, exploration-driven Growth Company: $16 million FY2010 exploration budget Game-changing exploration plays in world-class Kambalda District New discoveries at Mariners New discoveries at Miitel One of Australia s most active base metal explorers

10 OPERATIONS AND EXPLORATION

11 MINCOR IN KAMBALDA Northern Division: Production capacity approximately 8-10K tonnes nickel in ore pa Southern Division: Production capacity approximately 8-10K tonnes nickel in ore pa June 09 Nickel Inventory: - Resource: % Ni = 153,700 tonnes Ni - Reserve: % Ni = 45,400 tonnes Ni

12 KAMBALDA DOME UNRIVALLED ENDOWMENT Host to four of the six biggest high-grade g nickel sulphide ore bodies in Australia. Two-thirds of Mincor s Kambalda Dome holdings have not been effectively drilled. 350, , , , , , ,000 - The 14 biggest high-grade nickel sulphide ore bodies in Australia. The 3 biggest occur around the Kambalda Dome Ranked approximately by contained metal: includes past production and current Mineral Resources

13 NORTH KAMBALDA FIRST US-NOB TARGET

14 NORTH KAMBALDA FIRST US-NOB TARGET

15 THE MIITEL EXPLORATION WINDOW South Miitel: Two new ore bodies discovered? Drill-out underway North Miitel: Latest drilling opens new potential. Drilling underway The Awakening Giant existing reserves of 616,000 tonnes of 2.7% nickel, includes 148,000 tonnes in new N29 discovery. Re-entering production from June/July Recent drill results open discovery potential to north and south.

16 Immediate re-opening of Miitel approved Ramp-up to full production starts July 2010 Initial 4-year Ore Reserve: 616, % Ni for 16,400 tonnes nickel metal Nickel production of 4,500-5,500 tonnes pa South Miitel: Two new ore bodies discovered? Drill-out underway North Miitel: Latest drilling opens new potential. Drilling underway Production capacity strengthened th by presence of 3 independent production centres within the mine Substantial mine-life extensions highly likely

17 SOUTH MIITEL EMERGING DISCOVERIES N29 Ore Body N18 Ore Body

18 SOUTH MIITEL EMERGING DISCOVERIES

19 NORTH MIITEL EMERGING DISCOVERIES

20 NEW POTENTIAL IDENTIFIED AT MIITEL New drill-hole SMD10 suggests flatter plunge to Miitel channel structure than previously thought This creates opportunity to drill-test Miitel Contact from Mariners underground workings Success would double the size of Miitel, and provide rapid access to the new ore body from Mariners 4 km untested potential strike length 4 km mined and/or drilled strike length 67,000 of nickel in mined and unmined reserves??? Interpreted location of Miitel channel at Mariners mine, assuming a 5 o plunge as indicated by SMD10. Easily drillable from under-ground locations in Mariners Mine. Interpreted and untested location of Miitel channel assuming a 5 o plunge, as indicated by SMD10 SMD10 Key drill-hole indicating the Miitel channel structure may have a flatter plunge than previously thought. No drilling deeper than 300 metres south of this point

21 MIITEL CHANNEL PROJECTED TO MARINERS Miitel Basal Contact Mariners Basal Contact Mariners mine workings Deepest existing drill-holes from the Mariners workings into the Miitel Contact Mariners N08 ore body Mariners N09 ore body Projected location of the Miitel channel structure assuming a 5 degree plunge Mariners N10 ore body Cross Section View

22 MARINERS EMERGING DISCOVERIES High-production, high- grade, low-cost mine. Already 5 years in production under Mincor over 20Kt nickel produced, so far. Grade improving with depth? Massive further exploration potential. Recent high-grade N10 discovery. Maiden inferred resource 5% Nickel. N10 Discovery N11 Emerging Discovery New emerging highgrade N11 discovery.

23 REGIONAL EXPLORATION PIPELINE

24 TOTTENHAM COPPER Exploration Goals: Expand existing oxide resource to >100,000 tonnes contained Cu; Discover sulphide resource: p target 3% Cu

25 BONAPARTE PROJECT VTEM TARGETS High-quality multielement base metal play. Jogmec sole- funding for 40% Known mineralisation untested potential. Airborne VTEM completed targets along known gossan trends. Drill planning underway

26 MINCOR RESOURCES NL Cashflows, Profits, Dividends Nickel Price Leverage Financial Strength Unlimited it Exploration Upside

27 COMPETENT PERSON S STATEMENT (1) Tabulation and Categorisation of Mineral Resources Referred to in this report. Mineral Resources as of 30 June 2009: MEASURED INDICATED INFERRED TOTAL Resource Tonnes Ni (%) Tonnes Ni (%) Tonnes Ni (%) Tonnes Ni (%) Ni Tonnes Mariners , , , , , , , , ,400 Redross , , , , , , , , , ,200 Miitel , , , , , , , , , ,200 Wannaway , , , , , , , , ,300 Carnilya* , , , , , , ,500 Otter-Juan** , , , , , , , , , ,400 McMahon/Ken , , , , , , , , ,200 Durkin , , , , , , , ,400 Gellatly , , , , , ,000 Stockwell , , , , , , ,800 Cameron , , , GRAND TOTAL , ,632, , ,099, , , ,332, ,059, ,325, ,300 Note that Resources are inclusive of Reserves. Figures have been rounded and hence may not add up exactly to the given totals. * Resources shown for Carnilya Hill are those attributable to Mincor that is, 70% of the total Carnilya Hill Resource. ** Otter Juan includes Coronet and McCloy Resources are estimated to a 1% nickel cut-off. No minimum mining width criteria are used. The Resource estimation is done using inverse distance or kriging methods, depending on the data density. Volume models are constructed using all available data including underground drive and stope mapping. Grade interpolation using assay results from diamond drill core and, in places, underground face samples. The information in this Public Report that relates to Mineral Resources is based on information compiled by Mr Robert Hartley, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Hartley is a permanent employee of Mincor Resources NL. Mr Hartley has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking 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 Hartley consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

28 COMPETENT PERSON S STATEMENT (2) Tabulation and Categorisation of Ore Reserves Referred to in this report. Ore Reserves as at 30 June 2009: PROVED PROBABLE TOTAL Reserve Tonnes Ni (%) Tonnes Ni (%) Tonnes Ni (%) Ni Tonnes Mariners , , , , , , , ,700 Redross , , , , , , ,300 Miitel , , , , , , , ,000 Wannaway , , , , , Carnilya* , , , , , , ,300 Otter-Juan** , , , , , , , ,100 McMahon , , , , , , ,600 GRAND TOTAL , , ,607, , , ,299, ,965, ,000 Figures have been rounded and hence may not add up exactly to the given totals. *Reserves for Carnilya Hill are those attributable to Mincor that is, 70% of the total Carnilya Hill Reserve. **Otter Juan includes Coronet and McCloy. Appropriate dilution for the various mining methods was applied to the Indicated and Measured Resources. Using a 1.5% nickel cutoff and minimum mining width criteria, areas were selected as being mineable. Additional modifying factors to account for ore loss, recovery, further dilution, etc were then applied to achieve an estimated Reserve. The information in this Public Report that relates to Ore Reserves is based on information compiled by Mr Dean Will, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Will is a permanent employee of Mincor Resources NL. Mr Will has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking 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 Will consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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