Transcript Slide 1

Tanzania Focused, Global Explorer
March 2008
ASX: WMT
TITLE
GOES
Presented
by George
Bauk
HERE
Managing Director
1
Disclaimer
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.
2
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
3
Achieved substantial growth in 18 months
U
Cu
Ni
Zn
U
Sn
A$29m
A$3m
Market Cap A$55m
Market Cap A$6m
JUNE 2006
FEBRUARY 2008
4
Corporate Profile
Shares on Issue
Listed Options @ 35c (Apr 2010)
Unlisted Options
Share Price (15 Feb ‘08)
Market Capitalisation
Cash At Bank (Jan ‘08)
Top 20 Shareholders
Board and Management
620m
85m
80m
AUD 8.9¢ (4.6¢ cash backing)
A$55m
A$29m
20%
12% (fully diluted)
WMT Share Price & Volume
Volume
(millions)
Price
(AUD)
140
0.50
0.45
120
0.40
100
0.35
0.30
80
0.25
60
0.20
0.15
40
0.10
20
0.05
0
0.00
16 February 2007 to 15 February 2008
5
Introducing the Board and Management
Dr. Chris Greig, Non-Executive Chairman
Business leader, Chemical Engineer
Extensive International Project Experience
Mr. George Bauk, Managing Director
Leadership, Commercial
WMC, Outokumpu, View Resources, Arafura
Mr. Peter Smith, Executive Director
Leadership, Mining Engineering
WMC, Ensham, Rio Tinto
Mr. Geoff Chapman, Executive Director
Management, Geologist
WMC, KCGM, View Resources
Mr. Marc Cardaci, Non-Executive Director
Business Leader, Economist
CEO – CFC Group
Mr. Howard Golden, EGM - Global Development
Global experience, Geophysicist
BHPB, WMC
Mr. Morgan Ball, Chief Financial Officer
Chartered Accountant, Commercial, Finance, M&A
Ernst & Young, WMC, P&O, Brambles
Mr. Glen Edwards, Exploration Manager
Exploration experience in Africa, Australia
and Asia, Geochemist
IAMGOLD, Newmont, Normandy, Goldfields S.A.
Dr. Ben Grguric, Principal Geologist
Geologist, specialist mineralogy & ore deposit studies
WMC, BHPB
Mr. Livinus Komba, Country Manager - Tanzania
Exploration geologist (uranium, gold and diamonds)
Resolute Mining, Barrick Gold, Tanzania government
6
Project Overview
Western Metals Worldwide Operations
Snowbird Ni Ag-Zn-Pb
Canada
Glade U
USA
Lukkacha Cu-Mo-Au
Peru
Mtonya U
Tanzania
W Georgetown Zn-Pb
Australia
WMT Headquarters
Perth, AUS
Zeehan Sn
Australia
7
Tanzania Uranium Project
Location
Large uranium exploration land position 14,000km2
Ownership
WML will earn 60% by spending A$4m
Investment to date A$3.2m
42.5% interest on JV areas
WML Project Manager all areas
Projects
Potential sandstone hosted roll-front
style uranium deposits
Subsurface mineralisation identified
Many radiometric anomalies on
exploration areas
Tanzania ranked 12th lowest risk
investment country in Chubb Risk
Survey (2007)
8
Four Uranium Prospects under evaluation
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
9
Significant results at Mtonya
Forward Programme to Dec 2008
7 km
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
2 km
1000m
Mtonya Radiometrics - Uranium
10
Located in Queensland, Australia
Drill
Target
West Georgetown, Queensland
Tenements
60 km
11
14 Base Metals Targets identified
Drill
Target
West Georgetown FalconTM gravity data modelled at 500m depth
12
Drill testing in 2008
West Georgetown Highlights
FalconTM air-gravity survey complete
14 BHT, IOCG targets identified
Structural / Magnetic interpretation and
targeting completed on Northern block
Target:
Forward Programme to Dec 2008
5,000m drilling
Heritage clearance
Ground geophysical surveys
Projected spending A$2 million
Broken Hill Ag-Pb-Zn
Olympic Dam Cu-Au-U
13
2008 Exploration – Key Activities
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.
14
Growth Strategy
Acquisition –
Project 2
Exploration success
generates greatest
Exploration
Success
leverage
Acquisitions
Value
underpin
value and
Project 1
Upside
Realised
accelerate growth
Acquisition –
Project 1
Current
Exploration
Projects
Time
15
Focused on creating shareholder wealth
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
16
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
E:[email protected]
Mobile: +61 400 205 433