KASBAH RESOURCES LIMITED
KAS - Africa Down Under Conference Presentation - Mr Wayne Bramwell, MD
Mon, 8 Sep 2008 04:30PM
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KASBAH RESOURCES LIMITED (KAS)
ASX code: KAS
Website: http://www.kasbahresources.com
Industry: Materials
Principal Activities:
Mineral exploration
Address:
19 Hardy Street
SOUTH PERTH
WA
Phone: (08) 9463 6651
Fax: (08) 9463 6652
Executives & Directors
Mr Graeme Walker , Non Exec. Chairman
Mr Wayne Bramwell , Managing Director
Mr Peter Hepburn - Brown , Director
Dr Robert Weinberg , Non Exec. Director
Dr Rod Marston , Non Exec. Director
Mr Peter Youd , CFO
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Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
KASBAH RESOURCES LIMITED (KAS) Events
Australia/NSW
KASBAH RESOURCES LIMITED (KAS)
| Investor Presentation | Wed, 19 Nov 2008 |
| Quarterly Activities Report | Thu, 30 Oct 2008 |
| Quarterly Cashflow Report | Thu, 30 Oct 2008 |
| Notice of Annual General Meeting/Proxy Form | Thu, 16 Oct 2008 |
| Full Year Statutory accounts and report to shareholders | Fri, 26 Sep 2008 |
| Africa Down Under - Presentation | Mon, 8 Sep 2008 |
| Change of Director`s Interest Notice | Tue, 26 Aug 2008 |
| Quarterly Activities Report | Mon, 28 Jul 2008 |
| Achmmach Exploration Update - Phase 1 Results | Wed, 18 Jun 2008 |
| Quarterly Activities and Cashflow Reports | Wed, 23 Apr 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
PRESENTATION BY MR. WAYNE BRAMWELL, MANAGING DIRECTOR OF KASBAH RESOURCES LIMITED (KAS)
“Africa Down Under Conference Presentation”
http://www.brr.com.au/event/51102
MONDAY, SEPTEMBER 8, 2008, 4:30 PM
KAS Thanks for that Christian and welcome, and thank you for everyone for turning up at this session of Africa Down Under. I’m going to try and do many
10 things today. First of which is not to put you through death through PowerPoint and also not to read my slides. The next thing I’m going to try to do is finish my talk in under the allocated time, so here we go.
Kasbah Resources is something very dear to my heart. I’m passionate about
15 many things and three most passionate things are tin, Morocco, and Achmmach. This project and this company is very new, a young company and I’d like to give you a brief overview of the company in Achmmach.
20 These images are quite critical. A Kasbah effectively is a fort and they littered all throughout Morocco and they are ancient structures which have resisted many invaders, Romans, Arabs, the French, and Spanish. They’re actually not very good against Australian geologist and so far we’ve been quite successful in the country in taking out some very good opportunities.
25 I wanted to read this slide but the key parts in this slide that I’d like to make is that we build a significant team. The technical, commercial, and financial horsepower in this company is I believe significant including our investment base. The investors, all of which the key ones are identified here, some others would include smelter. We consider as strategic and share a common belief in Tin Morocco and the Achmmach Tin Project.
Key point from this slide is if cash is king, I guess I would be more in the royalty at the moment with AU$5.9 million in the bank.
35 Morocco, we have to keep reminding ourselves that Morocco geographically is in Africa but really is a Mediterranean country, and first and foremost, it’s 14 km from Spain. The history of Morocco is not well known to many people but certainly its history and its proximity to Europe makes this country very, very European in its feel. Politically, economically, and socially there’s more
40 resemblance to Western Europe than it does to Africa.
Following on from the theme at Morocco, it was a Mediterranean country and you get to say that King Mohammed VI. Mohammed VI is 44 years old, and I think he is a very good monarch. He is young and he reflects what is
45 effectively a young country, with a very progressive outlook. His prime focus in his time at the throne and he succeeded his father in 1999 has really been to increase the links that Morocco has with Europe and the West. He’s been successful in doing that in both the political and in the economic front.
Morocco, and you can see from the numbers here, and they add billion dollar investments in the bottom, is clearly open for business. There’s a flood of foreign investment into this country, historically from France and Spain, but now the countries of the GCC and the UAE are leading the charge.
5
Now, we got three projects in Kasbah, two tins and one gold, but I’ll restrict my talk today to relay our flagship project, which is Achmmach.
Achmmach is 2-½ hours drive from the capital of Rabat, where I live, and it’s
10 very well serviced with infrastructure. The project is serviced with high-voltage power. We have a high-voltage power line that runs across our two permits, communications on sight, and access to water. Another one of the key features is that it’s around 40 or 45 km away from a significant population based at Meknes.
15
A lot of people when they think of tin and iron really my job is continue re-education about what tin is now, think about thing such as Puta mugs, tin cans, and Dorothy’s travelling companion here. I mean, what is often forgotten about tin is that tin is an LME traded metal and
20 you can dial up that website any time of the day and see what the price is. What people have forgotten about is that there have been significant changes in this market since 2000, and a lot of the history and what’s known about tin now is actually incorrect. It’s a small market, 400,000 tonnes per annum of consumption and that consumption has changed significantly since 2000.
25 What is interesting is today, people also forget tin is the most valuable of the LME traded metals. Close at 19,395 on LME yesterday and has really started to push nickel out of the way. It’s been significantly higher. It’s been up to US$25,000 a tonne in the last six months, and what is happening in this market, which I could talk about ad nauseum is putting more and more
30 pressure on the price upwards.
It’s pretty hard to find a good product about what tins use for but I’ll manage to do it. You won’t find any pictures of Puta mugs in my presentations and this one shows that tin is a 21st century metal. A 51% is a critical number here,
35 and 51% where it outlines that of all the tins that’s produced in the world, now 51% of it is consumed on electronic industry as tin soda, the days of tin can and packaging and plate being the biggest end use although, I mean, only 70% of all tin now is consumed in that area. This electronic sector and the use of a tin soda is an absolute growth market and growing every year. Really
40 tin is the glue of the 21st century and anyone that’s got a mobile phone, Blackberry or lap top, it might work with a tin.
Again, I have to some how work photos of what the end use of tin is in today’s presentations and it’s pretty hard to find make tin cans look exciting, but this
45 is now a researched market as well. Developing countries are continuing to consume more tin cans for foods, and I think with the pressures on food supply in the world, this is the market which will again keep the demand for tin alone.
This slide here really depicts why we were sort of fell in love with the project when we first saw it as a prospect to working to find a tin project and we’ve looked at many which had over 14,000 m of diamond drilling in it and a exploration shaft with 800 m of underground development was unheard of.
5 We had a good feel about Achmmach when we saw it on paper and we just fell in love with that when we saw it on the ground.
What we have at Achmmach is effectively two mining permits and all the work that’s been done prior to our involvement with this project was done by the
10 Moroccan Mines Department. Their work was very narrowly focused in one area of one permit, and I must say, the more that we look at this, the more we find other opportunities.
This image here really shows our current view or exploration model of what
15 Achmmach looks like. This shape or this conceptual shape has been derived on the existing drilling done largely by the Moroccans. What we’re starting to see here is that this project when we got involve, had 29 holes drilled in it, over 2 kilometres of strike, and this system is around 9 kilometres long. This is sort of the model that we are now testing with our drilling and trying to
20 target all blocks within this shape. The most critical point to note from this slide here is the existing underground drive in the far west of the project and that really now is the focus of our drilling.
People, as I think about Morocco and the things I think about is the movie
25 Casablanca, and I can tell you it’s nothing like the movie. Bogart and his friends here basically have seen Kasbah progress through three phases of drilling and we’ve only started drilling in this country in November last year. The objective for us and the process really hasn’t changed since we listed this company last year, and that’s to push this thing forward to increase the
30 size of the JORC resource that we have, and push this project to a position where we can make a decision on development.
Again, I’ll just spin through these slides pretty quickly, but I’m trying to orient you guys to the three phases of drilling that we’ve done here. Our first phase,
35 the objective was to choose a high-grade heap that the Moroccans had left in their first phase of drilling in the eastern end of the project. What we were looking for there is to test whether there was an opportunity for open-pit mining and a potential fast start on this project.
40 Again, this is their exploration model which is very, very new, and you can see that the eastern end is where the first phase of drilling was trying to target these zones. We are pretty happy with our first round of drilling at Achmmach. I mean, the widths and the grades are very, very encouraging. A good tin line or good mine grade for tin is anywhere between 0.8 and 0.9% tin and north of
45 that is spectacular.
From that phase of drilling as planned, the plan always was to move back to the western end of the project to try and target the zone around the underground development at the Moroccans have done. This underground area, we’re calling the Meknes zone named after one of the imperial cities, and this is again I’m trying to orientate you where we are in space.
This is probably the best slide to look at in terms of you’re looking down
5 through the hill and Achmmach is a hill of 2 kilometres long and we’re faced to drill holes with plant. The target here was to draw drill above and below into the ace of the existing nine mineralisation to try and expand the tonnage and that that ore shape. I’m happy to say we’ve been very successful in doing that so far, and this has kicked our confidence along in this project significantly. In
10 my wildest dreams, I’ve never thought what we would be able to identify widths of 46 and over 30 m of mineralisation, and those types of widths were never seen in a Moroccan drilling. What this had told us with this quick look in this sign is that there are two phases of mineralization in this system. The Moroccans really in their drilling identified one we found something quite
15 different.
Again, just to reinforce that we have been successful in phase two. The target was to expand this ore zone and we’ve done it in three dimensions. It has kicked our confidence along to kick off the phase three drilling which
20 continues to focus in this area, again, trying to expand the tonnage potential in this zone.
I can assure you that I don’t think there’s ever been an iceberg seen off the coast of Casablanca, but the more we work on this project and our knowledge
25 in this project changes everyday, we start to feel that we’ve only just scratched the surface and that there’s a lot more below the surface. I must reiterate, this system is big, It’s 2 kilometres long as to find by the existing drilling. The total system, as you can map it, is 9 kilometres long and the drilling is really quite limited to about 3 to 400 metres below the surface. The
30 reasons why we like it, I don’t need to reiterate it. We get you read these points but we got great faith in many things. The commodity first, this is the market, the tin market, already encourage you to do a little bit of research for the commodity pundits. There are significant things happening in the tin market on the demand and the supply front. The supply front, it’s actually
35 tightening up. The industries had no significant investment in new projects for 10 to 15 years, all of the sudden the demand and use has changed. It’s the normal routine of supply and nothing I predict keep up with increasing demand.
40 Morocco is the place we love, it’s clearly our focus. It’s a pro-development country. The commodity is good and it’s early days for us with Achmmach but we have great faith that it’s getting bigger.
We finalized an acquisition of the gold project in Morocco in July and I should
45 give it the respect of one slide in this presentation even though this presentation is very specific to Achmmach. We will actually start ground work on a Tamlalt Gold Project in November and December, but again, all the work done today it’s been done by the Moroccan Mines Department. It’s a very high quality work, but again, this too has an iceberg feel about it where it’s a very large land package of which they’ve only focused on one area.
Just to get to the end of my presentation, I’m not sure if I achieved the target
5 I’m doing in a short period of time. We’ve only been on the ground since November last year -- phase one and phase two are complete. Phase three started in July and we’ll be in a position to announce that dated JORC Resource in the next quarter.
10 Really, thanks for your time. That’s Kasbah Resources and anyone would like to have a copy of my presentation, it’s at our booth -- booth 61, and if they’re prepared to listen to me talk about the tin market, please buttonhole me at the booth. Thanks.
PRESENTATION CONCLUDED
Contact brr@brr.com.au for more information
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