Western Plains Resources Ltd South Australian Iron Ore Projects Bob Duffin, Executive Chairman Mining SA Conference - Whyalla 3 December 2008
IMPORTANT NOTICE � This presentation contains forward looking statements concerning the projects owned by WPG. Statements concerning mineral resources and ore reserves may also be deemed to be forward looking statements in that they involve elements based on specific assumptions � Forward looking statements are not statements of historical fact, and actual events or results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on WPG’s beliefs, opinions and estimates as of the date they are made and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or reflect other future developments � Data and amounts shown in this presentation relating to capital costs, operating costs and project timelines are based on consultant reports, contractor quotes and internally generated estimates � Port user charges are assumptions but cannot be relied upon until port operators finalise their own plans � WPG cannot guarantee the accuracy and/or completeness of the figures or data in this presentation � All dollar amounts indicated in this presentation are in Australian dollars unless otherwise stated. November 30, 2008 2 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 2
Key Corporate Information Directors: – Bob Duffin (executive chairman) – Heath Roberts (executive) – Gary Jones (executive) – Bob Richardson (non executive) – Len Dean (non executive) – Dennis Mutton (non executive) – Lim See Yong (non executive ) Executives – Martin Jacobsen (COO) – Greg Harding (CFO) Issued shares 80.8m – Myles Fang (Business Development - China) – Ian White (GM – Special Projects) – Larissa Brown (Assistant Secretary) Unlisted options 12.5m Cash: $4.2m (30 September) Directors control 26m voting shares plus Fully diluted 93.3m options Good core group of top 50 shareholders Market $37m capitalisation (at $0.40/share) November 30, 2008 3 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 3
Our Iron Ore Projects • DSO: Peculiar Knob ML 6314 and Buzzard and Tui (MC 3810) deposits at Hawks Nest • Magnetite: Kestrel (MC 3809) and Goshawk, Harrier, Eagle, Kite and Falcon (EL 3196) at Hawks Nest • Peculiar Knob ML is 90 km S of Coober Pedy, 30 km E of the Stuart Highway, 15 km NW of OZ Minerals’ Prominent Hill mine and 85 km E of the Adelaide- Darwin railway line • Hawks Nest tenement EL 3196 (within which MCs 3809 and 3810 lie) is 115 km SSE of Coober Pedy, straddles Stuart Highway and is 45 km east of the railway line • It is approximately 600 km by rail from Wirrida siding to Port Bonython, 800 km to Adelaide and 2,150 km to Darwin • Road/rail haulage from PK to Port Bonython virtually identical to Portman’s Koolyanobbing - Esperance road/rail haulage distances November 30, 2008 4 4 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 4
Status of Approvals • Peculiar Knob ML granted June 2008 • PK Native Title Mining Agreement signed Sept 2007 and registered • PK BFS completed Sept 2007 • PK MPLs ready to be lodged; MARP in final stages of preparation • Compensation agreements nearing completion • Department of Defence has approved WPG’s mining and infrastructure plans for PK and formal agreement now being documented • Hawks Nest DSO permitting ~12 months behind PK • Buzzard BFS finished August 2008 and Kestrel magnetite project (both at Hawks Nest) scoping study completed April 2008 • MOU with Port of Darwin signed; also investigating Port of Adelaide, both as short term options until Port Bonython commissioned • In October 2008 Flinders Ports consortium was granted right to progress development of Port Bonython; must complete study by February 2009 November 30, 2008 5 5 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 5
Strategy • Develop PK as stand-alone operation ASAP initially at 2 mtpa – subject to finalisation of funding/offtake and interim port access it is ready to go • Bring Buzzard/Tui DSO into production 1-2 years later when Port Bonython ready and ramp PK up to 3 mtpa so that total DSO sales increase to 4.5 mtpa for 10 year DSO project life • Continue exploration to expand DSO resource/reserves and extend life • Conduct BFS on magnetite deposits with a view to commencing magnetite concentrate exports at a minimum of at least 6 mtpa from 2012 for >30 year project life – upside is >10 mtpa for >30 years • Develop potential for downstream value add processing of magnetite – pellets, DRI, pig iron etc November 30, 2008 6 6 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 6
Mineral Resource Estimates DSO Deposits Category Million Fe P SiO 2 Al 2 O 3 LOl Tonnes % % % % % • Peculiar Knob Measured resource 13.4 63.7 0.01 7.4 0.3 0.5 Indicated resource 4.1 63.4 0.02 8.2 0.2 0.4 Inferred resource 1.5 64.5 0.02 6.0 0.3 0.3 Total resource 19.0 63.7 0.02 7.5 0.3 0.5 Category Million Fe P SiO 2 Al 2 O 3 LOl Tonnes % % % % % • Buzzard Measured resource 12.1 62.1 0.05 8.1 1.4 0.9 Indicated resource 1.5 60.3 0.06 7.9 2.6 1.8 Inferred resource 0.5 62.3 0.07 8.5 1.1 0.8 Total resource 14.1 62.0 0.05 8.1 1.6 1.0 Category Million Fe P SiO 2 Al 2 O 3 LOl Tonnes % % % % % • Tui Measured resource - - - - - - Indicated resource 3.7 60.2 0.08 11.5 0.6 0.8 Note: 55% Fe Inferred resource 0.6 59.9 0.08 11.9 0.7 0.6 resource cut-off Total resource 4.3 60.2 0.08 11.5 0.6 0.08 grade November 30, 2008 7 7 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 7
Mineral Resource Estimates Totals – DSO Deposits Category Million Fe P SiO 2 Al 2 O 3 LOl Tonnes % % % % % Measured resource 25.5 62.9 0.03 7.7 0.8 0.07 Indicated resource 9.3 61.6 0.05 9.5 0.7 0.8 Inferred resource 2.6 63.0 0.04 7.8 0.5 0.5 Total resource 37.4 62.6 0.03 8.2 0.8 0.7 November 30, 2008 8 8 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 8
Ore Reserve Estimates DSO Deposits Category Million Fe P SiO 2 Al 2 O 3 LOl Tonnes % % % % % • Peculiar Knob Proved reserve 13.1 62.7 0.01 7.1 0.3 0.5 Probable reserve 2.3 63.0 0.01 7.0 0.2 0.5 Total reserve 15.4 62.7 0.01 7.1 0.3 0.5 Category Million Fe P SiO 2 Al 2 O 3 LOl Tonnes % % % % % • Buzzard Proved reserve 11.5 60.7 0.05 8.1 1.4 1.0 Probable reserve 1.3 57.4 0.06 8.0 2.6 1.8 Total reserve 12.8 62.3 0.05 8.1 1.5 1.0 Category Million Fe P SiO 2 Al 2 O 3 LOl Tonnes % % % % % • Totals Proved reserve 24.6 61.8 0.03 7.6 0.08 0.7 Probable reserve 3.6 61.1 0.03 7.4 1.1 0.7 Total reserve 28.2 61.7 0.03 7.5 0.8 0.07 NB: Tui not yet included in reserves November 30, 2008 9 9 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 9
Woomera Test Facility • Administered by the Commonwealth Department of Defence • Covers 127,000 km 2 - same size as England • Formerly used for space research; now used for the testing of war materials • There are many pastoral leases, opal diggings and major mines inside it November 30, 2008 10 10 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 10
Woomera Test Facility • We have approval from Defence to operate the Peculiar Knob mine and infrastructure • Expect agreement to be signed in December 2008 • Hawks Nest area is under centre line of range and is more sensitive to Defence • We expect Hawks Nest agreement will take a further 12 months to finalise November 30, 2008 11 11 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 11
PECULIAR KNOB DSO OPERATION November 30, 2008 12 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 12
Peculiar Knob DSO • BFS completed September 2007 • Simple specular haematite deposit; high grade Fe with virtually no impurities • Very sharp break between ore and wall rocks • Lies beneath 15-30 m cover • Effectively all resource reports to reserves • LOM W:O strip ratio 3.6:1 • Lump: fines - 35%:65% November 30, 2008 13 13 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 13
PK Infrastructure November 30, 2008 14 14 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 14
Peculiar Knob Mining November 30, 2008 15 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 15
BUZZARD DSO OPERATION November 30, 2008 16 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 16
Buzzard DSO • Generally similar to Peculiar Knob • Cover about 35m • Metallurgical testwork and mine design completed July 2008 • Effectively all resource reports to reserves • LOM W:O strip ratio 6.3:1 • Lump: fines - 65%:35% November 30, 2008 17 17 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 17
Buzzard Infrastructure November 30, 2008 18 Western Plains Resources Mining SA Conference Whyalla – 3 Dec 2008 18
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