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Aspire Mining Limited Investor Presentation 1 11 September 2014 For personal use only

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Aspire Mining LimitedInvestor Presentation

111 September 2014

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Important information

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•Nature of this document: This document has been prepared by Aspire Mining Limited (“Aspire”, “AKM”, or the “Company”) and contains summary information about the Companyand its subsidiaries as at the date of release of this document. The information in this document does not summarise all information that an investor should consider when making aninvestment decision. It should be read in conjunction with the Company’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange(“ASX”), which are available at www.asx.com.au or www.aspiremininglimited.com. In attending this presentation or viewing this document you agree to be bound by the followingterms and conditions.

•Not an offer: This document is for information purposes only and does not constitute or form part of any offer for sale or issue for any securities or an offer or invitation to purchaseor subscribe for any such securities. This document and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution,transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

•Not financial product advice: The information contained in this document is not intended to be relied upon as financial product advice or investment advice nor is it arecommendation to acquire Aspire securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making aninvestment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal,taxation and financial advice appropriate to their jurisdiction and circumstances. Neither Aspire nor any of its related bodies corporate is licensed to provide financial product advice inrespect of Aspire securities or any other financial products.

•Forward‐looking statements: This document contains certain “forward‐looking statements”. The words “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “likely”,“intend”, “should”, “could”, “may”, “target”, “plan”, “consider”, “foresee”, “aim”, “will” and other similar expressions are intended to identify forward‐looking statements. Indicationsof, and guidance on, future production, production targets, resources, reserves, capital expenditure and financial position and performance are also forward‐looking statements. Suchforward‐looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are outside the control ofAspire.

•Risks of investment: An investment in Aspire securities is subject to investment and other known and unknown risks, some of which are beyond the control of Aspire, includingpossible loss of income and principal invested. Aspire does not guarantee any particular rate of return or the performance of the Company, nor does it guarantee the repayment ofcapital from Aspire or any particular tax treatment. In considering an investment in Aspire securities, investors should have regard to (amongst other things) the risk and disclaimersoutlined in Aspire’s most recent Annual Report released by Aspire to the ASX on 18 October 2013.

•Unverified information: This document may contain information (including information derived from publicly available sources) that has not been independently verified by theCompany.

•Disclaimer: Neither the Company nor its directors, officers, employees or advisors make any representation or warranty and accordingly no reliance should be placed on the fairness,accuracy, completeness or reliability of the information contained in this document. To the maximum extent permitted by law, the Company, its directors, officers, employees oradvisors do not accept any liability for any errors, omissions or loss (including because of negligence or otherwise) arising, directly or indirectly, from any use of this document or itscontent.

•Financial data: All dollar values are in Australian dollars (A$) and financial data is presented within the financial year ended 30 June unless otherwise stated.

•Effect of rounding: A number of figures, amounts, percentages, estimates, calculations of value and fractions in this document are subject to the effect of rounding. Accordingly, theactual calculation of these figures may differ from the figures set out in this document.

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Important information cont.

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•Production Target Assumptions: The following are key assumptions used to achieve the ODP first year target of 5Mtpa of marketable coking coal. 1) In the eight months prior tocommencement of first year ODP production, a 23 million BCM waste removal programme to pre‐strip overburden to top of coal; 2) A strip ratio of 7.7:1 (BCM waste: tonne of coal); 3)Preferentially targeting the Upper Seam with a relatively high proportion of low ash coal; 4) Mining of 5.2Mt of ROM coal (at a 2% moisture on an as received basis) producing 5Mt ofsaleable coal. This is made up of 40% of washed coal and 60% of by‐pass coal meeting a 13% ash cut‐off; 5) Higher ash coal totalling 2.1Mt will be washed in a 300 tonne per hour washplant to be constructed at the Ovoot Project; and 6) Overall product yield of 90% to be achieved averaging 9% moisture for a less than 10% ash product. 7) The mine design is that usedto support the announced Coal Resource and Reserve update for the Ovoot Project (refer ASX announcement dated 31 July 2013). 8)All capital and operating costs are in 2013 dollars.•Development Timeline: Aspire’s development timeline for its Ovoot Project relies primarily on i) the provision of a rail concession and other approvals from the Government ofMongolia for Northern Railways to build, and operate the Northern Rail Line, connecting the Ovoot Project to the Trans‐Mongolian Railway at Erdenet; and ii) financing of the NorthernRail Line. The timing with respect to the grant of a rail concession is outside of the control of Aspire. Certain activities to further progress the Ovoot Project and Northern Rail Linedevelopment, and which will follow the grant of the rail concession licences, include the completion of detailed engineering work to support definitive financing negotiations. TheCompany’s development timeline to achieve first production by 2018 is indicative and assumes the grant of necessary Government licences, agreements and approvals in 2014.•Competent Persons Statement:In accordance with the Australian Securities Exchange requirements, the technical information contained in this announcement in relation to the JORC Compliant Coal Reserves andJORC Compliant Coal Resource for the Ovoot Coking Coal Project in Mongolia has been reviewed by Mr Ian De Klerk and Mr Kevin John Irving of Xstract Mining Consultants Pty Ltd.The Coal Resources documented in this release are stated in accordance with the guidelines set out in the JORC Code, 2004. They are based on information compiled and reviewed byMr. Ian de Klerk who is a Member of the Australasian Institute of Mining and Metallurgy (Member #301019) and is a full time employee of Xstract Mining Consultants Pty Ltd. He hasmore than 20 years’ experience in the evaluation of coal deposits and the estimation of coal resources. Mr. de Klerk has sufficient experience that is relevant to the style ofmineralisation and type of deposit under consideration to qualify him as a Competent Person as defined in the JORC Code, 2004. Neither Mr. de Klerk nor Xstract have any materialinterest or entitlement, direct or indirect, in the securities of Aspire Mining Limited or any companies associated with Aspire Mining Limited. Fees for work undertaken are on a timeand materials basis. Mr. de Klerk consents to the inclusion of the Coal Resources based on his information in the form and context in which it appears.The Coal Reserves documented in this release are stated in accordance with the guidelines set out in the JORC Code, 2004. They are based on information compiled and reviewed byMr. Kevin Irving who is a Fellow of the Australasian Institute of Mining and Metallurgy (Member #223116) and is a full time employee of Xstract Mining Consultants Pty Ltd. He has morethan 35 years’ experience in the mining of coal deposits and the estimation of Coal Reserves and the assessment of Modifying Factors. Mr. Irving has sufficient experience that isrelevant to the style of mineralisation and type of deposit under consideration to qualify him as a Competent Person as defined in the JORC Code, 2004. Neither Mr. Irving nor Xstracthave any material interest or entitlement, direct or indirect, in the securities of Aspire Mining Limited or any companies associated with Aspire Mining Limited. Fees for workundertaken are on a time and materials basis. Mr. Irving consents to the inclusion of the Coal Reserves based on his information in the form and context in which it appears.The technical information contained in this announcement in relation to the Ovoot Coking Coal Project in Mongolia has been reviewed by Mr Neil Lithgow – Non Executive Director forAspire Mining Limited. Mr Lithgow is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type ofdeposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves.” Mr Lithgow consents to the inclusion in the report of the matters based on this information in the form and context in whichit appears.F

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Corporate structure

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Ownership (Fully Diluted)

30.97%

13.67%

10.81%

17.82%

26.73%

AKM Directors (ex Turbat)

SouthGobi Resources Ltd

Noble Group

Mongolian Shareholders

Others

Ovoot Coking Coal Project

Northern Railways LLC

Erdenet – Ovoot Railway

100% 90% 10%*

Capital Structure (ASX:AKM)

1 As of 30 June 20142 US$5million loan facility provided for Northern Railways LLC (wholly owned subsidiary), fully drawn, as at 30 June 2014.3 Options on issue, exercisable at 5c, expiring 12 February 2015.

UndilutedShare Price (5 September 2014) A$ 0.056Shares Outstanding M 658.2Market Capitalisation A$m 36.9 Options and Performance Rights on Issue M 241.13

Cash A$m 3.51

Debt A$m 5.32

Enterprise Value A$m 38.7

10.8%

* Noble Group have contributed 10% pre‐development costs for the Northern Rail Line and will earn 10% equity position upon the grant of a rail concession to Northern Railways LLC from the Government of Mongolia.

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Aspire is a junior, well placed to benefit from renewed interest in Mongolia’s resources growth

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The location, size and quality of the Ovoot Coking Coal Project offers:

Close proximity to access both European and Asian markets

Sits along a proposed international rail corridor connecting Russia‐Mongolia‐China

Access to infrastructure – proposed rail, existing rail capacity upgrades, and power. Mongolian railway development driven and supported by Mongolian‐Russian‐Chinese Governments

Low operating costs in the early years and low capital cost to initial production

Initial offtake interest 48% more than initial production (Chinese and Russian customers)

Aspire is well placed to grow Mongolian interests:

50% ECJV ownership in Nuurstei Coal project. Exploration programme commenced.

Moratorium lifted on Exploration licences in Mongolia

Further exploration potential at Ovoot may grow Coal Resources

Ovoot is one of the largest undeveloped metallurgical coal assets that is poised to benefit from national investment and infrastructure agreements between Mongolia, Russia and China seeking to increase trilateral trade 263% by 2020

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An emerging Mongolia coking coal developer

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Company Focus:“To develop World Class Coking Coal Projects”

• Northern location provides opportunity for Ovoot to access European and seaborne coking coal markets

• Noble Group/Aspire Joint Venture “ECJV” to explore and develop coal assets

• Planned upgrade of TMR will allow capacity for Ovoot coking coal south to China

• Moratorium on Exploration Licences lifted 

• New potential exploration projects identified to grow Aspire’s project portfolioF

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“Developing the railway network will help Mongolia to open up rich, but for now, hard to access deposits and make broader and more effective use of its potential as a transit country” President V. Putin

7Source: Railway Gazette.com “Ulaanbaatar railway modernisation strategy” dated 4 September 2014

Mongolian, Chinese and Russian Governments have recently signed agreements covering co‐operation in transport and infrastructure, mining, education and communications

Russian‐Mongolia to modernise and extend Mongolia’s rail network and investigate, amongst other projects the extension of:1. The TMR to 100mtpa capacity, dual track, potentially electrified2. Railway from Erdenet – Ovoot – Arts Suuri – Kyzyl, and3. Increase Russian transit freight via Mongolia to 20mtpa by 2020.

Other advantages for Mongolia following China‐Mongolia‐Russia agreements include:1. Plan to study second Russia/Mongolia rail link through Arts Suuri – Ovoot Project – Erdenet 2. Access to 6 seaports in north China3. Cross‐border rail transport between Asia and Europe4. Chinese financing for infrastucture5. Increase Mongolian trade with both China and Russia to US$20bn by 2020 (+263%)6. Recognition of Mongolia as a transit corridor

….infrastructure developments coupled with relaxed mining and investments laws in Mongolia support future mineral sector growthF

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Gazprom, CNPC to decide on gas pipeline to China via Mongolia

Sources: Gazprom website, ITARTASS News Agency, “Gazprom, CNPC to decide on gas pipeline to China via Mongolia, dated 3 September 2014.

• Kyzyl – Arts Suuri –Northern Rail Line is a direct route for a gas pipeline, given existing infrastructure and location to gas fields

• Urengoy gas field the focus of Gazprom developments – 2ndlargest gas field in the world containing ~10 trillion cubic metres of gas

Mongolia is now part of deliberations for a gas pipeline transiting its territory for future supply from Russia to reach China

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Mongolia – a major trade and transit route

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• Mongolia’s rail network is being extended to provide for additional capacity and proposed railway to facilitate increased Mongolian exports and Russian transit freight to China

• Recent years have seen significant amount of rail construction activity

• Feasibility study along Erdenet – Ovoot – Arts Suuri rail link will be undertaken following Russia‐Mongolia Agreements

Rail Route Current StatusTavan Tolgoi – Sainshand Under construction, to be completed by 2017. Sainshand – Ereentsav, Nomrog, Bichil(via Hoot)

Working group assessment underway.

Ukhaa Khudag – Gashuun Sukhait Under construction. To be completed end of 2015.Trans‐Mongolian railway upgrade from Ulan Ude (Russia) – Jining (China)

Feasibility study underway. Phase 1 upgrade (up to 34Mtpa capacity) to be completed end of 2015. Phase 2 dual track up to 100mtpa and potentially electrified (subject of UBTZ and RZD feasibility study.

Erdenet – Ovoot PFS and on‐ground field study completed.

Working group established with UBTZ to discuss tie‐in at Erdenet and capacity allocation.

Awaiting grant of concession.Ovoot – Arts Suuri – Kyzyl Feasibility studies to be completed by working 

group formation between UBTZ and RZD.Source – State Policy on Railway Transportation Presentation dated 2011, by Ministry of Road, Transportation, Construction and Urban Development. Business Council of Mongolia Newswire Issue 306‐307 “Erdenes TT set for greater export” dated 10 January 2014, Montsame.gov.mn “Engineering Design of Far East Route Railways to be completed coon” dated 6 January 2014, Eurasia Daily Monitor Vol 11 Issue 15 “The Mongolian Russian Chines Northern Railway Corridor” dated 24 January 2014, InfoMongolia “Mongolia and China agree to establish Gashuun Sukhait Railway Joint Venture” dated 8 April 2014. RZD website, The Economic Times, United Nations Economic Commission for Europe –Transport Division “Euro‐Asian Transport Links Project”. Reuters “Mongolia eyes economic boost from China’s President dd 21 Aug 2014. Aljazeera News, “Putin visits Mongolia to boost trade ties” dd 3 Sept 2014

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10Note1: Source ‐ IMC Montan presentation “Russian Coking Coal Development – An Update” dated 19‐20 June 2013Note2: Source – Reserve estimate for Elegest, Mezhegey and Tsentrany reported by Severstal Resources presentation “Cokin Coal market Perspectives” dated May 15, 2013.Note3: PortNews “RF Defense Minister Sergei Shoigu suggests shifting of coal flows from Eastern to Southern direction” article dated 4th April 2014.

Large potential rail users to the north

Once Northern Rail Line is built to the Ovoot Project, only 475km rail link is required to create a more efficient link between Russia and China

Project Estimated Reserves

Owner

Elegest2 895 Mt Tuva Energy Industrial Corporation (TEPK)

Kaa Khem1 200 Mt En+ Group

Mezhegey2 765 Mt Evraz

Tsentralny2 639 Mt Severstal

Total 2,499 Mt

• Rail provides a direct route to China for “Elegest” coal

• Shorter distance from Russia (Kyzyl) to China by approximately 1,253km

• Freight from Kyzyl may form a part of the targeted 20mtpa “transit freight” set by Russia to achieve by 2020

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Northern rail line

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• Part of an international rail corridor between Russia‐Mongolia‐China

• Connects the Ovoot Project and Northern Mongolia directly onto the Trans‐Mongolian Railway and Trans‐Siberian Railway

• Negotiate for BOOT (Build Own Operate Transfer) rail agreement

• Major transport corridor in Russia and Northern Mongolia (passing through Orkhon, Bulgan, Khuvsgul and Zavkhan provinces)

• Open access multiple bulk commodity users, freight and passenger

• Erdenet – Ovoot Railway:

• Up to 30 Mtpa Capacity (multiuser)

• 547km length

• 220km south of the Khuvsgul Lake

• >120km south of the defined Tourism zone in the KhuvsgulProvince

• US$1,300 million Capex1 estimate + contingencies

• Estimated Commencement 2018*

Note 1: Capex estimate according the  Revised Rail PFS completed in April 2013. Total alignment is 595km which includes bypass loops. As part of its Opex estimates, Aspire will pay to Northern Railways the normal commercial tariff to access  Northern Rail Line.

*Future development is contingent on the grant of rail agreements and permits from the Government of Mongolia.

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Potential rail financing structure

12* Aspire’s current ownership interest in Northern Railways, which is expected to reduce as Strategic Investors are introduced in the financing process.

Equity

Export Credit

Banks

Strategic Investor/s

10.8%

90%*

10%

Northern Rail Line

Financing Situation Preliminary Stages:• Non‐binding Expressions of Interest 

received totalling US$1,300m

• Indicates broad level of interest in financing railway

• Definitive discussions can commence once rail agreements and permits are granted from Government of Mongolia

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Ovoot is a simple development plan with low capex, low opex

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Mine CAPEX and OPEX Estimates

Initial Production up to 5 Mtpa

CAPEX US$144m (incl. contingency and working capital)Note2

Commencement 2018Note6

Production growthpotential

up to 10MtpaNote1

Life of Mine 21 yearsNote1

OPEX (Avg first 2 years)

OPEX (Avg first 5 years)

US$76‐86/tNote2

US$82‐92/tNote2

Total Saleable Product 188 MtNote3

Product Type 100% High Quality Coking Coal

Average Strip Ratio 7.7:1 BCM waste/t (excluding pre‐strip) Note4

Note1: Full scale production based on December 2012 PFS Revision (refer ASX Announcement dated 6 December 2013). Note2: All costs nominal (2013 dollars). Operating costs exclude royalty and includes all freight and border costs FOR China, based on a scheduled saleable production rate of 5mtpa over first five years. Costs assume rail line has been extended to the Ovoot 

Project and 3c/t/km tariff is applied. Refer ASX Announcements dated 13 August 2013 and Quarterly Report for period ended 31 December 2013Note3: Total marketable coal produced over life of mine. Note4: Refer ASX Announcement dated 31 July 2013Note5: Nominal operating costs, based on a scheduled life of mine production rate of 5mtpa. Estimated FOR. Costs assume rail line has been extended to the Ovoot Project and 3c/t/km tariff is applied. Refer ASX Announcements dated 13 August 2013 and 

Quarterly Report for period ended 31 December 2013Note6: Commencement of production is dependant on the construction of the Northern Rail Line. Refer Development Timeline discussion under Slide 3.

Ovoot mine economics expected to result in early mine capital payback

Estimated Capex to produce 5mtpaNote 5 US$ 144m 

‐Mine pre strip $60m

‐Mobilisation $  8m

‐ Site infrastructure $  6m

‐ CHPP and buildings $43m

‐Working capital $13m

‐ Contingencies $14m

Estimated Opex FOR China at 5mptaNote 5 US$92/t

‐Mining and Processing $39

‐ Rail, Port &Marketing $53

Royalty estimate US$8/t

Total US$100/t

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Ovoot coking coal will have a long term cost advantage

14Source: Aspire Mining Ovoot coking coal nominal cost US$82‐92/t (not including royalty) for first 5 years of production. Refer Quarterly Report for period ended 31 December 2013. Note: China Primary Coking Coal price excludes VAT, source: China Coal resource, Shaanxi Fenwei Energy Consulting.*April – June Quarterly HCC price (Source: TEX report)

Metallurgical Coal (HCC + PCI + SSCC)

Ovoot and Mongolian coking coal has a significant geographical advantage that requires rail development to secure

30% of Seaborne metallurgical coal production is uneconomic

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Significant interest in Ovoot coking coal exceeds Ovoot development plan production

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Additional Chinese, Russian, Japanese, Eastern Europe Steel Mills and Coke Plants are being followed up by Aspire

Offtake Customers Potential Offtake under Non‐Binding MOU’s

Chinese up to 6.1 Mtpa

Russian up to 1.3 Mtpa

ODP Production 5 Mtpa

Excess MOU interest 2.4 Mtpa (+48%)

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Strong long term demand from China market inevitable 

16Sources: AME Group, “Coking Coal Market Outlook” presentation to Coaltrans Conference Brisbane dated August 2011

Unamed coal, 2%

Meagre lean, 7%

Lean, 7%

Primary coking coal, 25%

Fat, 10%1/3 Coking, 

13%

Gas fat coal, 7%

Gas coal, 29%

Chinese Coking Coal Reserves• Needs greater proportion of 

hard coking coal for use in larger BFs to maintain productivity

• Lack of “hard coking coal” –especially low‐volatile and high‐fluidity

• Coal industry consolidation –elimination of small coal mines

• Increased competitiveness of imports – new steel industries on China’s coast

• Semi‐soft coking coal will be “dragged in”

Other, 5%

Lean, 12%

Primary coking coal, 31%

Fat, 19%

1/3 Coking, 19%

Gas coal, 14%

Typical Chinese Coke Blend

Source: AME Group, “Coking Coal Market Outlook” presentation to Coaltrans Conference Brisbane dated August 2011

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Ovoot is considered one of the key input sources for Mongolia’s largest industrial complex development

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Sainshand Industrial Complex

• Intended to include coke and steel plants and other industry

• Non‐binding MOU signed for the supply of Ovoot coking coal to Sainshand

• Ovoot recognised as one of the key coal suppliers including Tavan Tolgoi

• Huren Chuluut Iron Ore also regarded as key iron ore supplier to Sainshand which would be an additional user of the Northern Rail Line infrastructure

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Oxidised and low quality coking coals can be upgraded when blended with Ovoot coking coal

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Non‐coking, Thermal Coals, and Semi‐Soft Coking Coals

• Coke oven blend tests conducted on 50/50 blend and 75/25 blend (oxidised coal/Ovoot)

• Used alone, low coking, thermal and oxidised coals are not enough to create a coke end product

• However, when blended with Ovoot coking coal, these coals are upgraded significantly to produce a good coke product

• Under Chinese classification, these blended products are classified as a Primary Coking Coal (JM)

Ovoot coking coal = High Value in Use

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JORC resource & reserve confirm Ovoot as second largest coking coal reserve in country

19Source: Company website, Company annual reports, Project technical reports*Ovoot Project ROM Coal Reserves based on Arb 2% moisture.

JORC Reserve(31 July 2013)

Probable (Mt)(arb 2% moisture)

Total (Mt)

Marketable (Mt)

(arb, 9.5% moisture)

Ovoot Open Pit 247 247 182

Ovoot Underground

8 8 6

Total 255 255 188

JORC Resource(31 July 2013)

Ovoot Open Pit

Ovoot Underground

Total (Mt)

Measured 197.0 0.0 197.0

Indicated 46.9 25.4 72.3

Inferred 9.2 2.6 11.8

Total 253.1 27.9 281.0

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Ovoot could grow larger on additional exploration

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Aspire/Noble group Mongolian joint ventureNuurstei coal project

21Note1: For results from 2011 drilling programme, refer Xanadu Mines Limited (ASX: XAM) ASX Quarterly Report for period ended 31 December 2011 http://www.asx.com.au/asxpdf/20120127/pdf/423z3zfyds2n5s.pdf

Ekhgoviin Chuluu Joint Venture “ECJV”:

• Aspire (50%) and Noble Group (50%)

• Purpose to explore and develop coal assets in Mongolia

• ECJV currently owns 60% of Nuurstei Coal Project, with ability to increase to 90% ownership

• Exploration programme commenced

• Drill holes will build on 2011 drilling programme (conducted by Xanadu Mines LimitedNote1)

• Exploration results expected December 2014 Quarter

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Nuurstei potential for road based operation (pre‐rail)

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• Located close to infrastructure ~10km from Khuvsgul province capital of Moron

• ~ 317 km from railway (at Erdenet), along the proposed Northern Rail Line

• Sealed road completion between Erdenet and Moron expected 2015

• Land at Erdenet available to Aspire can act as a coal stockpile and train load out area

• Pre‐feasibility study to be considered dependant on results from NuursteiExploration programme

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Infrastructure solution is the catalyst for future Ovoot development

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1. The Ovoot project will produce a quality coking coal product required in Mongolia and export markets

2. Recent progressive legislative and policy changes shows GOM support of minerals sector and infrastructure developments

3. Significant infrastructure, trade and financing agreements between Mongolia, Russia and China will benefit the growth of resources industry in Mongolia

4. Over 2.5Bt of coal reserves (Ulug Khem Basin) to the north of Ovoot can also access the proposed Northern Rail Line

5. Northern Rail Line will be part of an international rail network

6. Capacity of Northern Rail Line could be increased to over 30mt capacity for this combined freight task for Mongolian and Russian freight

7. Aspire working with UBTZ to facilitate tie‐in of Northern Rail Line to existing rail and negotiate capacity allocation

8. Additional freight from Northern Rail Line is needed to meet planned UBTZ capacity upgrades

9. Non‐binding financing interest received for US$1.3bn to construct Northern Rail Line

Northern Rail Line is an important link for Russian/Chinese trade and for the future development of the Ovoot Coking Coal Project

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Contact details

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Aspire Mining LimitedABN: 46 122 417 243ASX Code: AKM

Web:  www.aspiremininglimited.com

AUSTRALIALevel 2, Suite 20, 22 Railway RoadSubiaco, Western Australia, 6008

MONGOLIASukhbaatar District, 1st Khoroo, Chinggis Ave‐8 Social Insurance Department BuildingAltai Tower, 3rd Floor, Room 302 West wing, 1st floor, 2nd doorUlaanbaatar Moron, KhuvsgulTel: +976 7011 6828 Tel: +976 9990 1385

David Paull:  Tel:  +61 8 9287 4555(Managing Director) Email: [email protected]

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