MONARO MINING NL
MRO - Excellence in Mining and Exploration Presentation - Mr Mart Rampe, Managing Director
Thu, 18 Sep 2008 02:00PM
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MONARO MINING NL (MRO)
ASX code: MRO
Website: http://www.monaromining.com/
Industry: Materials
Principal Activities:
Uranium and gold explorer in the Kyrgyz Republic and of base metals and gold in Eastern Australia.
Address:
31 Market Street, St Martins Tower, Level 7, Suite705
SYDNEY
NSW
Phone: (02) 9264 7344
Fax: (02) 9264 8933
Executives & Directors
Mr Warwick Robert Grigor , Chairman
Mr Mart Rampe , Managing Director
Mr Malcolm Raymond Scott James , Non Exec. Director
Mr Jim Malone , Non Exec. Director
Mr Michael Duncan , Non Exec. Director
Mr Greg Barns , Non Exec. Director
Mrs Anne Adaley , 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
MONARO MINING NL (MRO) Events
Australia/NSW
MONARO MINING NL (MRO)
| Chairman`s Address to Shareholders | Wed, 26 Nov 2008 |
| Results of Meeting | Wed, 26 Nov 2008 |
| Quarterly Activities Report and Cash Flow Report | Wed, 29 Oct 2008 |
| Notice of Annual General Meeting/Proxy Form | Fri, 24 Oct 2008 |
| Appendix 3B | Fri, 24 Oct 2008 |
| Joint Venture with Vale Exploration Canada | Mon, 20 Oct 2008 |
| Annual Report to shareholders | Fri, 10 Oct 2008 |
| Audio Broadcast with Warwick Grigor | Thu, 18 Sep 2008 |
| Excellence in Mining Presentation Re-release | Wed, 17 Sep 2008 |
| Appointment of General Manager USA | Tue, 16 Sep 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.
EXCELLENCE IN MINING AND EXPLORATION PRESENTATION - MR MART RAMPE, MANAGING DIRECTOR, MONARO MINING NL (MRO)
http://www.brr.com.au/event/51315
WEDNESDAY, SEPTEMBER 17 2008, 1:00 PM.
MRO Thanks Chris. Thanks everybody. I would to make -- start this presentation by just outlining quickly what the company is doing in a global sense and in a
10 abroad sense. And then focus more closely to the United States where we have recently acquired a number of a high quality projects or merger with Uranium King. So as a quick snapshot, we are an Australian-based Uanium Exploration and Development Company with a global outlook. But the main objective of course is to advance our projects to production as soon as we
15 can. We have an experienced management team and we are building on that as well. We also have the ability to raise capital for exploration and development on this projects that we have now. Just a quick look at our global reef if you like, our first priority at the moment now is the United States where we got the Apex-Lowboy or deposit the Rio Puerco deposit and a
20 whole host of exploration targets in the United States. In Kyrgyzstan, we have a number of projects that are subject to a memorandum of understanding with Sinosteel and we have also got a number of other projects that we are looking to farm out in due cause. In Australia, we have a strategic alliance with Hapsburg Proprietary Limited and who have a number of projects
25 throughout Queensland and Northern Territory and we looking to build on that as well. We have also been looking at a number of opportunities in Europe and Africa. And to that extent, we are focusing on a couple of things in Bulgaria, Estonia and Nigeria. In general terms, we are a special purpose uranium company with a balance of a production development and
30 exploration projects. We are targeting the most prospective and/or overlooked regions in the world and we believe that we have now a very good basis for determining a good project from otherwise poor projects. We aim to establish a foothold in various countries or projects that have high value projects in on high value uranium and projects in uranium. The aim is to explore develop.
35 We add value. We take it through the production. If we did not, we did not farm out or maybe go down in IPO route in (due cause). Tactics being employed, we obviously listed on ASX but we are also listed on a Frankfurt Exchange, also now in American Exchange. We are advancing that to a level 2 in due cause. We are acquiring projects with a view to maximising the
40 leverage and then in certain instances, they risk that emphasis by bringing in strategic partners. Also at the same time, we bring in joint venture partners we could add value by adding here the personnel or properties and through corporate activities such as a UKL merger, we can add projects which not only include high quality prospects but also high quality people. Main focus at
45 the moment is to get into a production as soon as we can. So generally speaking, this is a timeline for the rest of the year in 2009. We want to complete the level 2 listing in the USA. We want to complete the deal with Sinosteel so that they can come in to work on our projects in Kyrgyz. We are looking to validate our Apex Project in the United States by doing some validation drilling and increasing the JORC compliance. We are looking at consolidation in countries like Bulgaria, Nigeria and Estonia. And in 2009, we’re looking to spin up possibly those projects that the have dropped off the priority list from our point of view so that we can concentrate on our
5 production properties. At the same time, we are looking for Europe and the United States for investors who come into the company. At the moment the capital structure is outlined here, we got just a90 million shares in issue, we got contributing shares and options to 10.5 million, current share price is 25 cents, market cap 21, and we got a cash balance of about 5. We are looking
10 at a number of productions scenarios. The USA in particular has given us the option to look at short-term production particularly at the Apex and Rio Puerco deposits. In the Kyrgyz and Bulgaria they are possibilities for production given the correct circumstances. But these are realistic objectives and realistic possibilities for us. Turning now to the United States, the merger
15 with Uranium King just recently completed. It has really added another dimension to our potential to grow the company. The United States is really a very project area which got huge potential as we have seen it. In general terms, in many instances, the United States in terms of mineral exploration for uranium seems to be quite way behind the Australian experience. And we
20 have found that this represents quite an opportunity for us. In particular, the two projects that are most advanced, very close to taking the next step to facilitate that process we have just hide is Denis Geldard as the Country Manager. He is a mining engineer with vast experience in the Australian scene -- huge amount of experience and was one of the pioneers of heap
25 leach operations gold in Australia. So we are now poised to take these projects to the next level. Just quickly focusing now on some of the projects that we are talking about -- in Nevada, we have the main projects, which is the Apex-Lowboy. We have alternate, not alternate but ore bodies or ore positions not far away as well, which we will be developing and exploring in
30 due cause. And we are currently now in the process of a commencing our pre-feasibility study for the Apex. The Apex at the moment contains approximately 1.4 million pounds. This gives you a bit of an overview of the country. A bit of a history indicates that approximately 100,000 pounds have already been mined ‘60s at a fairly high grade. The current JORC in third
35 resources roughly1.5 million pounds at a700 ppm. We are looking at heap leach of that leach options full force development. It is a very shallow ore body. Strip ratio is probably around 1:1. Fairly simple geology, a fairly simple mineralogy and the work that has been done underneath -- under the scoping study that was completed in 2007 showed very good recoveries in a very
40 quick period of time. CAPEX roughly of 24 million, operating cost $22 dollars per tonne and an IRR of 72%. The geology is fairly simple as indicate. The deposits lie at the contact between high background granitoid intrusives and phylites and shales, which are the reductant, the mineralogy is simple. In the current state of the project, we are just about to initiate the pre-feasibility
45 study which will include looking at the existing information, logging some -- further core, remodelling orebody and validation drilling which will take us up to another JORC level. Metallurgical testing, environmental and permitting issues and financial modelling. And we hope to complete middle of next year. Again this comes back to the geology, very simple, you can see where the Apex is at the contact between the granite and the sediments. It is part of a larger trend which covers the Lowboy uranium deposits located to the southwest by about 8 kilometres. And that whole region is still to be properly explored. That gives you an aerial view of the site. You see the blue stippling
5 that outlines the open pit position as we see it now. We have also indicated the position of the tilings and the vat leaching or heap leaching area. The main issues that face us at the moment are the permitting and environment issues and as I said, we hope to get put of the top of those body middle of next year with a view to going into production towards the end of 2009. This
10 again just emphasis where we are at. Some more work has to be done on a regional basis and we hope to eventually increase the size of our resource considerably. Turning now to New Mexico where our main project is the Rio Puerco deposit. And that is a well-developed deposit that has been extensively drilled. We are 4.5 million pounds again, JORC in third resource.
15 This project is located in a very substantial uranium belt called the Grants Mineral Belt which historically has produced some 340 million pounds of uranium ore. It is a fantastic region in terms of its potential. And we are well positioned to take advantage of not only developing our own mine there but also taking advantage of the opportunities that exist with other place in the
20 area who have some significant resources. This is just focusing now on to the Grants Mineral Belt at themselves. You can see that the Rio Puerco is (likely headed) on a western side there which is the western extremity of the belt. There are numerous uranium deposits and mines. Historically, mines are still in place. Some of those deposits, anything up to 20 to 30 million pounds of
25 mineralisation have already been done -- defined. So it is a hugely prospective region and we are hugely well positioned in terms of developing further resources on our own block of ground which is the focus of this project. The slide here, you see our tenements in the shaded blocked area. On the western side, we have approximately 15 million pounds of uranium
30 defined in the Bernabe Montano deposits. That is currently out of reach because it is an Indian reservation country. And on the eastern side, we have also have the Marquez deposit, again, a very large, well defined deposit. So our Rio Puerco is certainly positioned both geologically, very extremely favourable area. The mine itself has undergone significant exploration back
35 on the ‘60s and ‘70s. In today’s dollar term, it is something like $40 million was expended on developing this mine. There are hundreds and hundreds of drill holes in this mine. We are still in the process of digitising this information and getting the standard of the information to a level that we can utilise. But it is an extremely exciting deposit. We put this into a second category at the
40 moment because we believe that the Apex is more attune to quick development whereas this is more of a long-term project over the next year or two but certainly in terms of potential, it is really -- got some huge legs about it. The American experience. We are going now to look at some of our other projects in the Kyrgyz Republic. Here, we have eight licenses that we have
45 worked on various levels of activity over last year or two. Three of these licenses are subject to a memorandum of understanding with Sinosteel. That memorandum was rust recently revalidated with the expectation that will complete the transaction agreement by mid-October and so allowing Sinosteel to commence substantial exploration on those three licensed areas. Just focusing on a couple of those projects -- our Aramsu Project located here, previous work by the Russians are identified some 325 tonnes of metal. It is hosted in a fracture zone between graphitic slides and intrusives. And we have recently completed drilling as well as cleaning out the old shelves and at
5 its -- with the view to detail sampling and mapping. On a regional basis, the Aramsu is just one of many prospects within that license area. And again, we just have not done a justice in terms of exploration because those prospects that we have indicated there have very good indications of further mineralisation. Just moving on, still with the Aramsu, geophysics that we have
10 completed -- have indicated a number of geophysical anomalities which we are yet to test. That is for the next full season. In our Sumsar licence, we have an extensive development of stratabound lime mineralisation which contains the Shekafter Uranium Mine. We have done geophysics over this area. And this is just an example of what we have done today. There is a line
15 profiles across the deposit, and the region. Each line represents some several kilometres. The Shekafter Mine there you can see has been picked up by the (IP surveys). And as a result, we can then identify other anomalies within that general area which are circled. Again, these profiles indicate the anomalism that we have over picked up. Moving to Australia, two main
20 uranium projects are located in Queensland as the territory. We are looking for IOCG or unconformity style mineralisation. In Queensland, we are focusing on the IOCG deposits. We have identified some major structural features base on magnetic and gravity data. Some of those areas are now being targeted and followed up on ground field work with a view to generating
25 drilling targets for the next season. This is the model that we are using. We have basement conditions, fractured intrusive granites. These are the focus for IOCG deposits as they manifest themselves by geophysics. In the territory, we got two projects. Again, adjacent to or within the Pine Creek is inclined, world class uranium province. At Fog Bay, we have recently
30 completed an area of survey which we have identified coincident magnetic and radiometric anomalies. The Liver Pool deposits around the recent applications but well located in terms of the geology and the location towards -- location in terms of the several major ore deposits that have already been discovered there. At Fog Bay, these blocked areas indicate the coincident
35 mag and radiometric anomalies. We have just recently completed a follow up on these areas by ground survey work. And we have now in the process of looking at the data with a view to drilling targets for next year. Again, this is the model that we have been using and can formally style, fracture generated, intrusive related. Thanks very much.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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