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Hurdal porphyry-Molybdenum deposit in Norway. Prospective diamond exploration in West Greenland ... Porphyry-Moly. Development ... – PowerPoint PPT presentation

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Title: Investor presentations


1
World class mining projects in progress

2
Corporate Overview
  • Intex Resources ASA is a Norwegian based mining
    company, primarily focused on non-precious metal
    and mineral projects
  • Listed on the Oslo Stock Exchange in December
    2006 (OSE ITX)
  • NOK 500 million raised at listing
  • Project portfolio
  • Mindoro Nickel-laterite deposit in the
    Philippines
  • Hurdal porphyry-Molybdenum deposit in Norway
  • Prospective diamond exploration in West Greenland
  • Brownfield zinc-copper projects in Norway

3
A World Class Portfolio
Zinc-Copper Exploration
Mindoro NickelDevelopment
Olivine Production royalty
Porphyry-MolyDevelopment
Diamond Exploration
  • 200 mill tonnes Inferred Resource w 0.13 MoS2
    at Hurdal verified by SRK in May 2007
  • Positive scoping study from Aker Kværner November
    2007. Infill drilling program and further
    development underway
  • Additional molybdenite targets being investigated
    for open pit potential
  • Promising brownfield Zn-portfolio acquired
    includes Grimsdalen, Sivilvangen and
    Lergruvebakken mines
  • Several new targets in proprietary geophysical
    database
  • Drilling to commence Winter 2007/2008
  • Positive Pre-feasibility study completed
  • Independent resource verification and highly
    encouraging leach test work completed
  • Full Feasibility study and environmental impact
    assesment now underway
  • Greenfield project fast
    tracked to production by Intex in 12 months
  • Sold to Minelco (subs, of Swedish state-owned
    LKAB) for cash annual production royalty
  • Guaranteed minimum payment of USD 1 mill./year
    from 2008 to 2021
  • Successful kimberlite sampling program in
    Maniitsoq district, W Greenland
  • 18 of 20 samples contained diamonds. Best result
    so far is 80 diamonds in single 24 kg sample.
  • Exclusive Maniitsoq Licence area expanded to
    2,000 sq km in 2007

2
4
Recent Highlights
  • Principal contracts for Mindoro Definitive
    Feasibility study agreed with Aker Solutions, SGS
    and Golder
  • Senior Management changes but no major
    strategic shift
  • Mindoro pre-feasibility study upgraded to new
    location and transport option,
  • 500 kilos limonite ore is currently being tested
    in Canada
  • Experienced project organisation and world class
    consultants in place
  • Promising diamond exploration results from
    Greenland
  • Summer program planned and ready for execution in
    Hurdal and Greenland
  • Cash end Q1 70 mUSD substantial buffer to
    deliver Mindoro to the next stage

5
Main Priorities
  • Focus on substantial risk-reduction for Mindoro
    Nickel through
  • Securing a quality DFS study
  • Securing necessary permits
  • Securing rights for land for processing facility
  • Upgrading and increasing of resources
  • Approaching the right partners for bringing
    Mindoro forward to a world class nickel project
  • Ensuring a project portifolio pipeline that
    sustainable increase value
  • Fulfilling the exploration programs at Hurdal and
    Greenland
  • Sufficient cash till Mindoro is brought to its
    next stage

6
Mindoro Nickel - the Philippines
  • High-tonnage nickel laterite deposit controlled
    100 by Intex Resources
  • More than 2 million tonnes of contained nickel
    metal outlined to date
  • Favourable location near the open sea in a
    central part of the Philippines
  • Listed as one of the Philippine Governments
    priority mineral projects
  • A staged development will lower technical and
    financing risks
  • New technologies and good metallurgy provide
    extra advantages

7
80,000 Tonnes of Nickel Annually
  • Positive Pre-feasibility study
  • Projected production of 40,000 tpa Nickel in
    stage-1, increasing to 80,000 tpa in stage-2
  • Definitive Feasibility Study (DFS) planned for
    2009 - to be managed by Aker Solutions
  • Environmental Compliance Certificate issued
    following an EIA/EIS process
  • MPSA agreements for additional areas
  • Bulk testing and pilot-scale HPAL test work
    planned for 2008 by SGS Lakefield laboratories

8
Milestones going forward
  • 2008
  • Final Pre Feasability Study
  • Location of plant site
  • Test mining and pilot-plant testing
  • Ongoing exploration
  • 2009
  • DFS
  • Appointment of main contractor
  • Commence detailed engineering design
  • Award of local fabrication contracts
  • 2010-2012
  • Prefabrication and Assembly of processing plant
  • Preparation of mine site and plant site
  • Construction of infrastructure facilities
    (harbour, roads)
  • Ramp up of mine operation to 15,000 tpd (4.8 mill
    tpy)

Operations
Production Start
2008
2009
2010
2012
2011
  • Prepare Mine closure plan
  • Environmental Impact Statement for ECC
  • Information, Education and Communication (IEC)
  • Environmental Compliance Certificate
  • Permitting (National and Local)
  • Coordinate development plans with LGUs
  • Development of local enterprises
  • Ongoing mine site rehabilitation and replanting
  • Organizing environmental monitoring committees
  • Ongoing community development and personnel
    training
  • Direct employment of over 5,000 nationals during
    construction

CSR Programme
9
Mining and Production Overview Full Value
Creation on Mindoro
  • 1. Mining process
  • Sequential surface mining of 100-150 ha blocks
    annually
  • Haulage to transfer stockpile
  • Terrain reshaping and return of topsoil
  • Mine site rehabilitation and replanting
  • 2. Safe Materials Transfer to the Coast
  • Cable conveyor for transfer of ore materials
    approximately 40 km from high-lands to
    production plant by the coast
  • Environmentally friendly, energy efficient
    transfer option
  • 3. Full Value Creation locally through
    HPAL-technology
  • Use of proven HPAL technology for nickel
    production
  • Acid leach circuit dissolves nickel
  • Acid plant provides up to 80 MW of CO2 -free
    electrical power
  • Mixed Sulphide product

10
2. Safe Materials Transfer to the Coast
  • Ore is transferred to a production plant near the
    coast, involving minimal handling on the mine
    site
  • Two alternative sites are considered as suitable
    plant locations
  • The transport distance is estimated at 40-60 km
    for all alternatives
  • cable conveyors are considered the most
    environmentally friendly and lowest cost solution
  • Social, economic and environmental impact study
    of the transport process is under preparation

11
3. Local Value Creation Through HPAL-technology
  • Use of HPAL-technology will enable value-added
    processing of laterite ore on Mindoro
  • Final location of HPAL plant is yet to be decided
  • Test results suggest 50 higher production
    capacity of two autoclaves than several
    comparable projects
  • Addition of saprolite processing
  • Increased resources and potentially higher
    resource grade
  • 100 increased metals production for 50 more
    CapEx
  • Power production as by-product
  • Acid plant will provide 80 MW of CO2-free
    electrical power
  • Processing plant will have zero carbon footprint
    (self contained power supply)

Illustration of typical HPAL-plant
12
Target Local Value Creation from 2011
  • From mining to production on Mindoro - full local
    value-added benefits
  • Employment of over 5,000 workers during
    construction and over 2,000 during operation with
    priority to Mindoreños
  • Additional significant employment by the
    multiplier effect
  • 2 of total mining revenue to local community
  • Education technology transfer
  • Substantial Tax returns to the local and National
    Government
  • Foreign Exchange Revenue for the National
    Government
  • New infrastructure developments (port, roads,
    hospital, schools)

13
Capital Expenditures
  • Capex Break down Stage-1 Stage-2 total
  • USDm USDm USDm
  • Mining 71 0 71
  • Process plant 603 296 89
  • Process packages 383 268 651
  • Water, Service utilities 146 72 218
  • Process plant infrastructure 122 0 122
  • General Infrastructure 51 14 65
  • Construction services 55 31 86
  • Project costs 276 118 394
  • Contingencies 342 160 502
  • TOTAL CAPEX 2,050 960
    3,010
  • Company adjusted capex 2,400
  • OPEX 2.9 USD/lb 2.2
    USD/Lb
  • Production
  • Nickel (tonnes) 40,000
    40,000 80,000
  • Cobolt (tonnes) 3,000
    700 3,700

14
Target Thriving Host Communities
  • Improved livelihood, agri-development, and
    sustainable resource utilization
  • Basic health initiatives
  • Fresh, clean water supply
  • Sanitation facilities
  • General medical assistance
  • Health surveys and treatment
  • Educational Programmes and support
  • School enrolment for children
  • Vocational training
  • Micro-financing programmes through Intex
    Foundation
  • Supporting ancestral land surveying and titles
    for Indigenous People
  • Disaster assistance programme
  • Flood Assistance Funds
  • Environmental programmes
  • Forest and Wildlife Restoration programmes
  • Environmental monitoring programmes

15
Molybdenum Projects, Norway (100)
  • Hurdal Project
  • The Hurdal molybdenum deposit is located
    approximately 90 km north of Oslo
  • Infrastructure is excellent
  • SRK confirmed quality of Hurdal inferred resource
    data in May 2007
  • Aker Kvaerner UK completed a Mining Scoping Study
    in November 2007
  • 6,000 m infill drilling, metallurgical test work
    and Environmental baseline studies planned for
    2008

SRK confirmed in May 2007, using 0.07 MoS2 cut
off
16
Maniitsoq Diamond Project (100)
  • 2,000 km2 exclusive license area in West
    Greenland, covering the entire Maniitsoq
    Kimberlite Province
  • 5 new kimberlite dykes discovered during field
    reconnaissance in 2006
  • First pass exploration in 2006 returned natural
    diamonds in 18 of 20 samples
  • Of the 67 natural diamonds recovered, 31 stones
    were reported as intact and 36 as fragments
  • Colour classification returned 35 white stones,
    22 as grey and 10 brown
  • Of the 35 white stones 14 were described as
    transparent with no inclusions or cleavages and
    12 as transparent with some inclusions or
    cleavages
  • 2007 exploration program included new systematic
    sampling of all known kimberlite dykes and
    regional reconnaissance

17
Zinc-Copper Exploration, Norway (100)
  • Review of known deposits Grimsdalen,
    Sivilvangen, Lergruvebakken Gruver
  • New targets generated by proprietary database
    Killingdal North and other anomalies
  • Database developed in partnership with Noranda
    Inc.
  • Grimsdalen Typical VMS deposit along a 9 km
    zone. Indicated resource of 6.6 million t with
    2.6 Zn and 0.4 Cu in West zone, and 1.7 million
    t with 1.4 Zn and 0.9 Cu
  • Sivilvangen Indicated resource of 400,000 t at
    4.3 Zn and 0.7 Cu
  • Lergruvebakken Known remaining tonnage of
    540,000 t at 7.8 Zn and 0.74 Cu
  • Killingdal North Outcrops and geophysical
    signatures of up to 3 km in length
  • Drilling being planned for Winter 2007/2008
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