Presentation Building a Significant Diversified Mid-Cap Producer - PDF document

13 June 2007 Presentation – Building a Significant Diversified Mid-Cap Producer Attached is a copy of a presentation to be delivered by Bruce Hooper, Exploration Manager, at the RBC Capital Markets Conference in Toronto on Wednesday 13 June. A copy of this presentation will be posted on Perilya’s website at www. perilya.com.au. For Further Information: Darryl Edwards Company Secretary Perilya Limited ACN 009 193 695 Phone: 61 8 6210 2018

RBC Capital Markets Conference Toronto, June 2007 Building a significant diversified mid-cap producer

Slide 2 Overview - launch platform for sustainable growth • An Australian resource company • The fourth largest ASX listed zinc and lead producer • Solid earnings foundation at Broken Hill • Strong balance sheet • Advanced development pipeline • Exploring at Flinders, Mount Oxide and Broken Hill • Evaluating M & A opportunities Corporate Broken Hill Flinders Mount Oxide Growth

Slide 3 Zinc production growth profile 250,000 Beltana Flinders Resource High Grade & Intermediate Ore Potential (Reliance, Aroona & Moolooloo) 200,000 Broken Hill North Mine Deeps North Mine Potential 150,000 Contained Zinc Potosi Resource Potosi Upside (tonnes) 100,000 Broken Hill Southern Broken Hill Operations Southern Operations Reserves Resources & Upside 50,000 - 2007 ~ 2015 Corporate Broken Hill Flinders Mount Oxide Growth

Slide 4 Growth Mount Oxide Flinders Financial performance Broken Hill Corporate

Slide 5 Company S tructure AS X : PEM PEM Relative Share Price Performance Index (A$) ASX/200 250 196M Shares on issue: 200 4.5M Options: 150 A$862M Market Capitalisation: 100 (Undiluted at $4.40 per share) 50 0 Jun 2006 Sep 2006 Dec 2006 Mar 2007 Jun 2007 Key Shareholders: Geographic Analysis of Share Register (May 2007) 80 Korea Zinc: 10.0% 60 Shares (m) Barclays Global Investors: 9.7% 40 Delta Partners: 5.6% 20 Board & Employees: 2.7% 0 Australia UK North Europe (ex Asia New Unknown America UK) Zealand Corporate Broken Hill Flinders Mount Oxide Growth

Slide 6 Operating Operating Tampang (Cu, Au) Projects Tampang (Cu, Au) Projects Exploration Exploration Mount Oxide (Cu) Mount Oxide (Cu) Dee Range (Cu, Zn) Dee Range (Cu, Zn) Beltana Beltana (Zn) (Zn) Flinders (Zn) Flinders (Zn) Broken Hill Broken Hill (Zn, Pb, Ag) (Zn, Pb, Ag) Potosi (Zn, Pb, Ag) Potosi (Zn, Pb, Ag) North Mine Deeps North Mine Deeps (Zn, Pb, Ag) (Zn, Pb, Ag) Corporate Broken Hill Flinders Mount Oxide Growth

Slide 7 Broken Hill – operations and potential Developing Operating Potosi Exploration Decline Southern Operations & North Mine 1.6mt @ 13.0% Zn 11.6mt @ 7.3% Zn Resource Reserve 4.8% Pb 3.1% Pb (as at 30 Jun 2006) (as at 30 Jun 2006) 47.7g/t Ag 43g/t Ag Exploration decline Project status 1.9Mtpa Production rate advanced 385m from portal 5 years Mine life North Mine Deeps Redevelopment 120 kt Zn Ave annual metal 4.2mt @ 11.2% Zn 70 kt Pb Resource production 13.7% Pb 2 Moz Ag (as at 30 Jun 2006) 214g/t Ag Pre-feasibility Project status study due Sept Qtr Corporate Broken Hill Flinders Mount Oxide Growth

Slide 8 Broken Hill exploration - targeting 10+ year mine life Piesses • A$12M exploration budget 2007/08 Knob − extend existing resources Potosi Flying − identify new satellite ore bodies Doctor North Mine − major new discovery Round Hill City Southern Operations 5 km Mill Stirling Vale Southern Ops 1130 Extensions Smiths Sam Deeds Perilya Broken Hill Mining Lease Henry George Surface projection of ore bodies Existing Operations Exploration targets Monarch Flat Corporate Broken Hill Flinders Mount Oxide Investment

Slide 9 Broken Hill infrastructure the foundation for growth - spare concentrator capacity Southern Operations Potosi Mine Southern Operations Potosi Mine 1.9 Mt per annum 0.2 – 0.4 Mt per annum 1.9 Mt per annum 0.2 – 0.4 Mt per annum North Mine North Mine North Mine Deeps North Mine Deeps 0.1 – 0.2 Mt per annum 0.1 – 0.2 Mt per annum 0.2 – 0.4 Mt per annum 0.2 – 0.4 Mt per annum Satellite open pitable Satellite open pitable deposits ?? deposits ?? Broken Hill Concentrator 2.8 Mt Capacity North Mine Deeps evaluating Potosi Mine North Mine Southern Operations existing Corporate Broken Hill Flinders Mount Oxide Growth

Slide 10 Potosi Mine - targeting 4mt @ 10-12% zinc and 3-5% lead North Corporate Broken Hill Flinders Mount Oxide Growth

Slide 11 S outhern lodes - 3D predictive modelling • Built geological understanding of ore zones • Modelled blocks for untested priority stratigraphy • Each large block potentially contains a 10 Mt deposit Potential 10 Mt deposits Corporate Broken Hill Flinders Mount Oxide Growth

Slide 12 Northern lodes - Round Hill Deeps #1 geological target s 2.3m @ 4.0% Pb/Zn 3.1m @ 10.0% Pb/Zn 3.4m @ 7.0% Pb/Zn Corporate Broken Hill Flinders Mount Oxide Investment

Slide 13 Flinders zinc oxide proj ect Rail line - 4,183km 2 landholding Tenements Corporate Broken Hill Flinders Mount Oxide Growth

Slide 14 Flinders zinc proj ect Leigh Creek - deposit location & infrastructure Aroona Operation • Currently mining Beltana Development targets Exploration targets Aroona II • Base case IRR 135% Rail Road • Cluster of deposits Relative scale of Tom Thumb current resource 5 km Reliance Moolooloo Aristotle Beltana Mine Sundown On track loading Wallrider Corporate Broken Hill Flinders Mount Oxide Growth

Slide 15 Flinders – direct shipping ore - separate stockpiling creates blending opportunities Flinders 966kt @ 31% Zn = 300kt metal High Grade Product 150kt @ 38.1% = 57kt metal Intermediate Grade Product MARKETABLE 392kt @ ~ 30% = 110kt metal POTENTIALLY Low Grade Product MARKETABLE Stage 1 - Beltana 242kt @ 21.5% = 53kt metal 376kt @ 32.6% Zn UNMARKETABLE = 123 kt metal Reliance 355kt @ 29.5% Zn = 105 Kt metal Stage 2 Stage 3 Evaluate potential of Evaluate beneficiation deposits along strike Other 235kt @ 30.2% Zn = 71 Kt metal Corporate Broken Hill Flinders Mount Oxide Growth

Slide 16 Mount Oxide - high grade copper proj ect • Major mineralised province • Similar style deposit to Mount Gordon (14.9Mt @ 2.9% Cu) • 747km² landholding • 25km from Mount Gordon operation Corporate Broken Hill Flinders Mount Oxide Growth

Slide 17 Mount Oxide – potentially treble resource to 300kt Cu 15m @ 1.2 % Cu Haemitite Breccia 1m @ 1.6 % Cu Ore Cu Cu % Tonnes % Metal Kt 1.5 2.5 37 33 Inferred 2.5 3.0 75 67 Indicated Total 4.0 Mt 2.8% 112Kt 100% Corporate Broken Hill Flinders Mount Oxide Growth

Slide 18 Mount Oxide - open along strike both north, south & below existing resource ? ? >0.2% Cu >1.5% Cu Current Resource Corporate Broken Hill Flinders Mount Oxide Investment

Slide 19 BROKEN HILL $150M cash FLINDERS • Underutilised mill • High grade zinc • Potosi exploration decline • Low capital cost • North Mine Deeps • Short lead time Pre-feasibility Study • Strong demand for ORGANIC • Near Mine Exploration concentrate / high grade & NEW ore • Regional Exploration BUSINESS M & A GROWTH MOUNT OXIDE • Base metals • 112kt copper resource • Diversify dual asset cash flow • High grade copper & low arsenic COMMODITY MARKETS • 25km from Mount Gordon • Zinc & lead prices operation underpinned by strong $18M debt supply & demand fundamentals Corporate Broken Hill Flinders Mount Oxide Growth

Slide 20 Perilya – investment proposition • Significant production profile • Strong balance sheet • Low geo-political risk • Near term, low capex growth opportunities • Strong zinc, lead and copper markets Lead Price & LME Inventory Levels Zinc Price & LME Inventory Levels 125,000 2,500 750,000 5,000 100,000 2,000 600,000 4,000 Zinc Price (US$/t) LME Stockpiles (tonnes) LME Stockpiles (tonnes) Lead Price (US$/t) 75,000 1,500 450,000 3,000 50,000 1,000 300,000 2,000 25,000 500 150,000 1,000 0 0 0 0 Jan-05 May-05 Sep-05 Jan-06 May-06 Sep-06 Jan-07 May-07 Jan-05 May-05 Sep-05 Jan-06 May-06 Sep-06 Jan-07 May-07 Corporate Broken Hill Flinders Mount Oxide Growth

Slide 21 Perilya – significant cash holdings Cash / Market Cap Cash CBH Zinifex 834.2 Perilya Jubilee 289.5 Jabiru (including $200M convertible note) CBH 251.6 Jubilee Perilya 150.6 Sally Malay 88.0 Sally Malay Zinifex Jabiru 75.4 Pan Aust Kagara 14.6 Kagara Aditya Birla Aditya Birla 6.2 0% 10% 20% 30% 40% 50% 60% - 100 200 300 400 500 600 700 800 900 Source : Perilya & UBS Corporate Broken Hill Flinders Mount Oxide Growth

Slide 22 Perilya –low multiples vs peer group 2009E 2009E EV / EBITDA 2008E PE RATIO 2008E 6.3 10.9 Jubilee Jubilee 7.6 11.3 5.9 9.6 Kagara Kagara 5.8 9.6 5.7 10.7 Zinifex Zinifex 4.2 7.4 4.3 4.0 Aditya Birla Sally Malay 3.2 5.4 2.9 5.5 CBH CBH 3.1 5.3 2.2 7.0 Sally Malay Aditya Birla 2.9 4.8 2.8 5.3 Perilya Perilya 2.5 4.8 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 - 2.0 4.0 6.0 8.0 10.0 12.0 Source : UBS Corporate Broken Hill Flinders Mount Oxide Growth

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