Nkwe Platinum Limited Arbn 105 979 646
17 June 2008
Australian Securities Exchange Limited Exchange Plaza 2 The Esplanade Perth PERTH WA 6000
Via E Lodgement
COMPANY PRESENTATION
Please find attached a recent Company presentation.
For and on behalf of the Board
Peter Landau Executive Director
AUSTRALIAN OFFICE 34 Parliament Place West Perth WA 6005 Australia
PO Box 684 West Perth WA 6872 Australia
Tel: +61 (0)8 9488 5244 Fax: +61 (0)8 9321 6699
NKWE PLATINUM LIMITED ARBN 105 979 646
REGISTERED OFFICE Clarendon House 2 Church Street Hamilton HM11 For personal use only use personal For PO Box HM666 Hamilton HMCX BERMUDA
NKWE PLATINUM LIMITED Bermuda Regn Number 32747
Web: www.nkweplatinum.com
For personal use only NKWENKWE PLATINUMPLATINUM PLATINUM N Bermuda Rgn No 32747 No Rgn Bermuda LIMITED ARBN ARBN 105 979646 KWE OPPORTUNITY UNIQUE PGM Disclaimer
This Document is Confidential This document may not be reproduced, redistributed or passed on, directly or indirectly, to any other person, or published, in whole or in part, for any purpose without prior written approval from Nkwe Platinum Limited.
Distribution Limitations The distribution of this document in jurisdictions outside of Australia may be restricted by law, and persons into whose possession this document comes should inform themselves about, and observe, all such restrictions.
This Document is not a Prospectus nor an Offer to Subscribe for Shares This document is not a prospectus and does not contain or purport to contain all the information in relation to a transaction that would be contained in a prospectus or that you, the recipient, may require to evaluate the proposal. This is not an offer to subscribe for shares.
No Representation or Warranty is made as to the Accuracy and Completeness of this Document and no Liability Accepted Whilst all reasonable care has been taken to confirm the reliability of the information and opinions expressed herein, no representation or warranty is made as to the accuracy or completeness of this document. Any assumptions, interpretations, estimates and forecasts contained herein involve subjective judgments that may be subject to
significant uncertainties and contingencies and may not prove accurate. Accordingly, any estimates and forecasts For personal use only use personal For may not be achieved, and any statements as to future matters may not prove correct and the differences may be material. In all cases, the recipient must conduct his / her own investigation and assessment and satisfy his / her self as to the completeness, accuracy or reliability of the information herein.
www.nkweplatinum.com ASX:NKP Introduction to Nkwe
Vision • To be among the top four global platinum producing companies operating across the full value chain of platinum production
Mission • To become a leading platinum producer which mines, refines and markets platinum products to contribute significantly towards shareholder wealth, employee satisfaction and community development.
Values • Grow shareholder value • Strive for excellence • Creating a legacy • Good corporate citizen For personal use only use personal For • Enjoy doing business
www.nkweplatinum.com ASX:NKP Corporate Structure
• Listed on ASX, focusing on Platinum Group Metals (“PGM”) • Projects all in Bushveld, South Africa • Regionally diversified PGM Portfolio – East & West B/veld • Critical mass to become Vertically Integrated PGM Producer • HDSA controlled and fully compliant • Fully funded to complete BFS
Genorah Resources Institutions
Nkwe Platinum Ltd
Hoopekrants, GARATAU + De Kom Rooderand, Kliprivier
For personal use only use personal For Nooitverwcht, Eerstegeluk
Nkwe has an option to acquire 59%
www.nkweplatinum.com ASX:NKP Corporate Snapshot
Board and Executive Management Share performance (6 months) Maredi Mphahlele – Managing Director Peter Landau - Director Tony Weber – Technical Director Mxoleli Nkuhlu – Legal Director Sharif Pandor – Non Executive Director Andre van der Merwe – Project Manager Shammy Luvhengo – Bus. Dev. & Investor Relations Staff Sithole – Corporate Affairs Director
Shareholders Capital Structure Genorah Resources 48% No. of shares in issue 185 m Institutional (Free float) 52% Fully diluted* 251 m
(RAB, BAC Platinum Fund, Evolution, Market Capitalisation US$155m For personal use only use personal For New City Investments, Credit Suisse) Cash* US$8m (Another US$12m from sale of De Wildt to XStrata – Settlement July 08) *Option to acquire 59% interest in Southern Farms – 250m shares
www.nkweplatinum.com ASX:NKP Another The projects
Existing Infrastructure N • Power
Johannesburg
• Water POLOKWANE SOUTH AFRICA
Polokwane Smelter • Roads PPL
Cape Town MOKOPANE Lebowa • Security Twickenham Marula Northam • Communications Messina Amandelbult Modikwa
Union GARATAU EERSTE Smelter GELUK ROODERAND - RUIGHOEK
Waterval Smelter
BRPM DE WILDT Two Rivers Eland Implats Everest South Rustenburg RUSTENBURG TINDERBOX - KLIPRIVIER PRETORIA Kroondal Crocodile River Marikana Lonmin
For personal use only use personal For Western Limb Eastern JOHANNESBURG Limb
www.nkweplatinum.com ASX:NKP Flagship projects
Clapham JUBILEE 118 KT Groothoek k 256 KT e IMPLATS Twyfelaar o Garatouw farm Tjate Project h 119 KT s r T a K Marula mine Dsjate a 0 n 5 249 KT in 2 • Merensky Reef – 2.83 g/t 4E over 242cm W Driekop MINING LEASE 253 KT AREAS / PROPERTIES • Depth - 350m NKWE Platinum
DE KOM ANGLO Platinum • UG2 - 7.63 g/t 4E over 79cm U 252 KT G 2 IMPALA Platinum
M c • Depth - 700m h Zwemkloof e r SEKHUKHUNE Farms r o e m 283 KT n Maandagshoek i JUBILEE Platinum s ti k 254 KT te y Merensky Reef outcrop s R e GARA e a m UG2 chromitite seam Eerste Geluk farm Groot Vygenboom e f Mooihoek 284 KT TOUW 255 KT • Merensky Reef - 2.90 g/t 4E over 218cm 282 KT NKWE • Depth - outcrops at surface ANGLO PLATINUM PLATINUM Genoakop Modikwa mine • UG2 - 7.45 g/t 4E over 77cm 285 KT Hendriksplaats 281 KT • Depth - 300m. 3 0 + HOOGSTE PUNT Onverwacht 290 KT HOEPA 292 KT
k KRANTZ m 291 KT Drilling Summary Houtbosch Geluks Location 323 KT
Winterveld • 50 holes with in excess of 30 650m of 293 KT SOUPIANA core drilled and logged 325 KT • 227 reef intersections in total including NOOIT- VERWACHT EERSTE deflections 324 KT GELUK 327 KT STEELPOORT
For personal use only use personal For • Resource definition program for the current feasibility study targets both MR KENNEDY'S VALE and UG2 Het Ford Project 329 KT De Goedecerwacht
www.nkweplatinum.com ASX:NKP JORC Resource and Target Mineralisation
Clapham JUBILEE 118 KT Groothoek k 256 KT e IMPLATS Twyfelaar o Tjate Project h 119 KT • Independent SRK Mineralisation Potential s T r a K Marula mine Dsjate a 0 n 5 249 KT in 2 W Report – 5 Farms potential target Driekop MINING LEASE 253 KT AREAS / PROPERTIES mineralisation of 100m ounces (3PGE+Au) NKWE Platinum DE KOM ANGLO Platinum U 252 KT G with 30% discount factor applied 2 IMPALA Platinum
M c h Zwemkloof e r SEKHUKHUNE Farms r o e m 283 KT n Maandagshoek i JUBILEE Platinum s ti k 254 KT te y Merensky Reef outcrop s R e GARA e a Groot Vygenboom m UG2 chromitite seam e Mooihoek TOUW f • Latest initial JORC inferred resource for 284 KT 255 KT 282 KT portions of the southern Eerste Geluk and NKWE ANGLO PLATINUM PLATINUM Genoakop Modikwa mine Nooitverwacht farms 285 KT Hendriksplaats 281 KT 3 0 Discounted 3PGE+Au + HOOGSTE PUNT Onverwacht 290 KT HOEPA 292 KT
Resource Grade Ounces k KRANTZ m 291 KT Tonnage (3PGE+Au) (Moz) Houtbosch Merensk y Geluks Location 323 KT Inferred 35.7 4.1 4.7 Winterveld UG2 293 KT SOUPIANA Inferred 32.1 7.7 7.7 325 KT NOOIT- Total / average 66.9 5.8 12.4 VERWACHT EERSTE 324 KT GELUK 327 KT STEELPOORT
For personal use only use personal For Disclaimer: It is important to realise that the “mineralisation potential” statement is not a Minerals Resource statement, but reflects the amount of mineralisation that the Project has the potential to host given the known KENNEDY'S VALE Het Ford Project Merensky/UG2 reef characteristics of adjacent mining operations. 329 KT De Goedecerwacht
www.nkweplatinum.com ASX:NKP Estimated Resources
KLIPRIVIER Eastern Limb UG2 Resource ~ 5.3 m oz • Pt/Pd = 1.5:1 • Open pit potential – 6 km outcrop GHOST MOUNTAIN
KLIPRIVIER DE WILDT – sold to Xstrata – US$12m (July 2008) TINDERBOX • UG2 Resource ~ 4.4 m oz • Pt/Pd = 3.5:1 • Footwall mineralization – wide reef mining
Western Limb
ROODERAND ROODERAND • Merensky; UG2; Pseudo Reefs ~ 4.5 m oz DE WILDT For personal use only use personal For • Pt/Pd = 2:1
www.nkweplatinum.com ASX:NKP Corporate Strategy
• Complete feasibility study on our core projects • Core Project to deliver 1m Oz pa • Develop Independent Smelting/ Refining Capacity • Select Development Partners for mining, smelting and refining • Corporate deals on smaller projects
Nkwe Platinum Limited
Mining Complex Smelting Complex Refining Complex For personal use only use personal For 1 million ounces of PGMs per annum
www.nkweplatinum.com ASX:NKP Timetable schedule
Activity Planned Date JORC Resource Upgrades June 2008 Selection of Strategic Partner June/July 2008 Listing on both JSE and AIM** 3rd Quarter 2008 Exploration Ongoing Pre-feasibility 4th Quarter 2008/ 1st Quarter 2009 Feasibility 4th Quarter 2009 Authorisations/Permitting 4th Quarter 2009
Mine Development 2010 For personal use only use personal For ** Financial Institutions already mandate for this
www.nkweplatinum.com ASX:NKP Project options evaluations
Valuation considerations Technical Considerations Resource/Target > 100m ounces • Access Mineralisation – Decline versus shaft access Grade (RoM) – UG2 4.56 g/t 4E (~60%) – Combination: e.g. decline with raisebore ventilation shaft Grade (RoM) – MR 3.76 g/t 4E (~40%) – Location Capex ~US$1 billion • Configuration: e.g. number of declines, size of shaft, Peak production 1m oz of PGMs etc. (especially with respect to lead and ramp-up times, LoM > 50 years and production rates) Cash operating cost* US$ 900 / PGM oz • Mining – Mining rate(s) Basket Price (Long term) US$ 1420 / PGM oz – On or off reef development (or combination) (Current) US$ 2200 / PGM oz – Mechanised / conventional / hybrid mining methods – Support implications of different mining methods Approx NPV ~US$ 9 billion • Transport
– Wheeled vs track vs conveyor (or combinations) For personal use only use personal For • Sequencing – Evaluate sequencing of construction, production and processing for both Merensky and UG2, * Includes ongoing Capex www.nkweplatinum.com ASX:NKP R/kg Cost Including Capex – Recent
price R550 000/kg For personal use only use personal For
Source: AllanHochreiter
www.nkweplatinum.com ASX:NKP Capex Total for SA Platinum Explorers
(Rbn) For personal use only use personal For
Source: AllanHochreiter
www.nkweplatinum.com ASX:NKP Platinum Market
(000 oz) 2006 2010 2015 2020
Demand Total 6,775 9,736 11,964 12,879
of which: 4,195 5,063 6,087 7,052 Autocats
Jewellery 1,605 3,200 4,350 4,400
Supply Total 6,785 9,015 10,002 12,509
of which: 2,800 3,288 4,040 3,500 AngloPlat
Implats 1,692 2,153 2,127 2,100
For personal use only use personal For Supply shortfall/surplus 10 -721 -1,962 -370
Source: AllanHochreiter
www.nkweplatinum.com ASX:NKP Investment Case
• Excellent, high quality assets • Plan to bring in a reputable technical partner • Experienced management and directors • Fully funded to BFS • Exposure to full PGM value chain • Combination of UG2 and Merensky mining will raise yield in by-products of nickel and copper • Working on potential “early” ounces strategy • Fully compliant with SA legislation • Ability to engage in corporate activity now and in future
• Strong market fundamentals For personal use only use personal For
www.nkweplatinum.com ASX:NKP Peer Group Comparison
120 100.00 90.00 100 80.00 80 70.00 60.00 60 50.00 40.00 40 30.00 (US$/Oz) 20 20.00 10.00 Oz per Cap Mkt
Attributable Oz's (m) Oz's Attributable 0 0.00 Nkw e Anooraq Ridge Eastern Wesizwe Platinum Platinum Aust
Attributable Oz (mOz) Mkt cap/oz (US$/Oz)
Source: Company websites and announcements
For personal use only use personal For Note: Nkwe’s attributable ounces are based on an independent SRK Target Mineralisation Report.
www.nkweplatinum.com ASX:NKP Thank you
Contacts SOUTH AFRICA Tel: +27 (0) 11 445 2161 Name: Shammy Luvhengo Fax: +27 (0) 11 445 2166 Title: Exec GM: Business Development and Investor Relations P.O. Box 11585 Tel No: +27 84 580 9868 or +27 11 445 2161 Vorna Valley E-mail: [email protected] Midrand 1686 Name: Maredi Mphalele Republic of South Africa Title: Managing Director IMS PARK Tel No: +27 83 346 1342 or +27 11 445 2161 No. 6 Eastern Services Road E-mail: [email protected] Eastgate Ext 3 Sandton Name: Peter Landau Johannesburg Republic of South Africa Title: Director Tel No: +44 774 757 7815 or +61 407 751 115 LONDON E-mail: [email protected] Tel: +44 (0) 207 389 8190
Website: www.nkweplatinum.com For personal use only use personal For
www.nkweplatinum.com ASX:NKP