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SOUTH BOULDER MINES INVESTOR PRESENTATION

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SOUTH BOULDER MINES INVESTOR PRESENTATION


Executive Summary

SOUTH BOULDER MINES:

  • ASX Listed October 2003 (ASX: STB), (SO3-Ber), (SO3-Fra); and
  • Three outstanding projects: potash, gold and nickel.

PROJECTS:

Colluli Potash Project

  • Potentially “world class” buried evaporite potash project in Eritrea; and
  • Acquisition of an Exploration license granted in July 2009.

Duketon Greenstone Belt Projects, Western Australia.

  • Gold discovery at surface “Terminator Prospect”; and
  • Other excellent targets proximal to Moolart Well (ASX: RRL)
  • Nickel JV with Independence Group (ASX: IGO):
    • IGO earning 70% of nickel upon completion of BFS; and
    • Targeting massive and matrix nickel sulphide deposit, currently drilling, sulphides intersected, announ. 8th Feb.

STRATEGY:

  • Conduct resource confirmation and definition drilling ahead of JORC resources and feasibility studies at Colluli. Drilling scheduled for March, first since 1968; and
  • Follow up RC drilling planned for Terminator at end February and work towards defining an initial JORC gold resource at Terminator POW approved; and
  • JV partner conducting nickel drilling to define JORC resource.

Eritrea

FORMATION

  • The country gained its independence in 1991;
  • UN supervised referendum made it official in 1993;
  • Population ~ 4 million people; 80% dependent on subsistence agriculture;

CURRENTLY

  • Stable Government:
    • Previous minister for mines was in place for 12 years.
  • Supportive government for foreign investment in mining and exploration.

MINING REGIME

  • Mining code based on Northern Territory, Australia, with royalties of:
    • 5% on precious metals; and
    • 3.5% on base metals and salts.
  • Corporate tax rate ~ 38%;

GOVERNMENT INTEREST

  • Government 10% free carry; and
  • After BFS Government has option to purchase an additional 30% equity participation interest at an independently determined price.

Click here for PRESENTATION

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