title goes here tanzania focused, global explorer march 2008 asx: wmt presented by george bauk...
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Tanzania Focused, Global Explorer March 2008
ASX: WMT Presented by George Bauk Managing Director1
Where this presentation contains “forward-looking statements”, these statements are based on information and assumptions and involve expectations or beliefs as to future events or results as understood at the date of this presentation. All forward-looking statements are represented in good faith and have a reasonable basis at the time that they are made. However, such statements are subject to various risks and uncertainties, many of which are beyond the control of the Company, which could cause actual results to differ materially from those represented by the forward-looking statements. Any representation in this presentation should not be relied upon as to its accuracy or completeness nor as a recommendation or forecast by the Company. The Company advises that independent financial advice be sought before concluding any binding decision made in connection with this presentation. The representations made within this presentation should not be construed as either an offer to buy or sell any securities of the Company in any jurisdiction.
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Disclaimer
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Western Metals is
An emerging resource company developing a portfolio of world class projects
A quality team with expertise in strategy, acquisitions, exploration and operations
Well funded with A$29m cash
Investigating numerous acquisitions
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Achieved substantial growth in 18 months
FEBRUARY 2008
Market Cap A$55m
A$29m
U
Cu
Ni
Zn
JUNE 2006Market Cap A$6m
A$3m
SnU
Corporate Profile
Shares on Issue 620m
Listed Options @ 35c (Apr 2010) 85m
Unlisted Options 80m
Share Price (15 Feb ‘08) AUD 8.9¢ (4.6¢ cash backing)
Market Capitalisation A$55m
Cash At Bank (Jan ‘08) A$29m
Top 20 Shareholders 20%
Board and Management 12% (fully diluted)
WMT Share Price & Volume
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16 February 2007 to 15 February 2008
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Introducing the Board and Management
Mr. Peter Smith, Executive DirectorLeadership, Mining EngineeringWMC, Ensham, Rio Tinto
Mr. George Bauk, Managing DirectorLeadership, CommercialWMC, Outokumpu, View Resources, Arafura
Mr. Geoff Chapman, Executive Director Management, GeologistWMC, KCGM, View Resources
Mr. Marc Cardaci, Non-Executive DirectorBusiness Leader, EconomistCEO – CFC Group
Dr. Chris Greig, Non-Executive ChairmanBusiness leader, Chemical EngineerExtensive International Project Experience
Mr. Morgan Ball, Chief Financial OfficerChartered Accountant, Commercial, Finance, M&AErnst & Young, WMC, P&O, Brambles
Mr. Glen Edwards, Exploration ManagerExploration experience in Africa, Australia and Asia, GeochemistIAMGOLD, Newmont, Normandy, Goldfields S.A.
Dr. Ben Grguric, Principal GeologistGeologist, specialist mineralogy & ore deposit studiesWMC, BHPB
Mr. Howard Golden, EGM - Global DevelopmentGlobal experience, GeophysicistBHPB, WMC
Mr. Livinus Komba, Country Manager - TanzaniaExploration geologist (uranium, gold and diamonds)Resolute Mining, Barrick Gold, Tanzania government
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Project Overview
Western Metals Worldwide Operations
Glade UUSA
Lukkacha Cu-Mo-AuPeru
Mtonya UTanzania
W Georgetown Zn-PbAustralia
Zeehan SnAustralia
WMT HeadquartersPerth, AUS
Snowbird Ni Ag-Zn-PbCanada
ProjectsPotential sandstone hosted roll-front
style uranium deposits Subsurface mineralisation identified Many radiometric anomalies on
exploration areasTanzania ranked 12th lowest risk
investment country in Chubb Risk Survey (2007)
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Tanzania Uranium Project
LocationLarge uranium exploration land position - 14,000km2
OwnershipWML will earn 60% by spending A$4m Investment to date A$3.2m42.5% interest on JV areasWML Project Manager all areas
Mtonya Corridor Highlights
Near surface uranium discovered over 7km trend Peak drill Intercept 7m @ 1,233ppm U3O8
Peak specimen grading 6% U3O8 (Henri) Peak trench 1.2m @ 7,723ppm U3O8 (Grandfather)
Regional Highlights
Prospective Tenure – 14,000 km2
Three new prospects discovered Specimen grading 13,400ppm U3O8 (Foxy) Specimen grading 1,080ppm U3O8 (Eland) In-country team established
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Four Uranium Prospects under evaluation
1000m
2 km
7 km
Mtonya Radiometrics - Uranium
Forward Programme to Dec 2008
20,000m drilling High-resolution airborne radiometric survey Helicopter based regional reconnaissance Ground radiometric surveys Geological mapping, trenching & sampling Hydro-geochemical surveys Projected spending A$4 million
A’
A
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Significant results at Mtonya
DrillTarget
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Located in Queensland, Australia
West Georgetown, QueenslandTenements
60 km
West Georgetown FalconTM gravity data modelled at 500m depth
DrillTarget
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14 Base Metals Targets identified
West Georgetown Highlights
FalconTM air-gravity survey complete 14 BHT, IOCG targets identified Structural / Magnetic interpretation and targeting completed on Northern block
Target: Broken Hill Ag-Pb-ZnOlympic Dam Cu-Au-U
Forward Programme to Dec 2008
5,000m drilling Heritage clearance Ground geophysical surveys Projected spending A$2 million
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Drill testing in 2008
SW Tanzania – Mtonya (Uranium) A$2.5m planned
Drilling of prospects in the Mtonya Corridor will be aimed at continued evaluation of areas of known surface and subsurface uranium mineralisation discovered during 2006 & 2007.
Drilling will specifically target the Moysten, Para, Rufus, Grandfather and Mad Fish Prospects.
SW Tanzania – Regional (Uranium) A$1.5m planned
Accelerate regional reconnaissance effort with a view to generating additional targets. Evaluation and drill testing of Pedro, Eland and Foxy Prospects.
West Georgetown - Queensland Australia (Ag-Pb-Zn) A$2m planned
Establish access, complete ground based gravity and electromagnetic surveys and drill test top 10 priority targets.
2008 Exploration – Key Activities
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Growth StrategyV
alue
Time
CurrentExploration
Projects
Acquisition – Project 1
Project 1Upside
Realised
ExplorationSuccess
Acquisition – Project 2
Exploration success generates greatest
leverage Acquisitions
underpin value and accelerate growth
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Well funded emerging resource company with A$29m
Quality team with expertise in strategy, acquisitions, exploration and operations
Detailed 2008 work program of A$10m to advance our existing portfolio of excellent assets
Actively targeting acquisitions to advance growth
Focused on creating shareholder wealth
Contact us
Mr George Bauk
Managing Director
Western Metals Ltd
Unit 7, 100 Railway Road
Subiaco WA 6008
Telephone +61 8 6380 3600
Mobile +61 408 931 746
Ms Ann M Nahajski
Associate Director
Porter Novelli
33 Broadway
Nedlands WA 6009
Mobile: +61 400 205 433