+ Discovery+ Discovery+ Discovery+ Discovery+ Resource Definition+ Resource Definition+ Resource Definition+ Resource Definition+ Value Capture+ Value Capture+ Value Capture+ Value Capture
Within the world’s greatest base metal province – the Mt Isa Super
Basin in Northern Queensland
June 2017
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Forward Looking StatementsForward Looking StatementsForward Looking StatementsForward Looking Statements
• This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties.
• These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Presentation, are expected to take place.
• Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of our Company, the Directors and our management.
• We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this prospectus will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
• We have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this prospectus, except where required by law.
• These forward looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statements.
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Pursuit Minerals LimitedPursuit Minerals LimitedPursuit Minerals LimitedPursuit Minerals Limited
• Quality assets – to acquire the advanced lead/zinc and copper projects Paperbark and Bluebush in northern Qld, and the Coober Pedy Project in South Australia, from Teck Australia Pty Ltd
• Unique potential – Bluebush hosts what may be the largest zone of zinc mineralisation (>100km2) in Australia, while Paperbark has significant potential to host a major copper oxide or sulphide deposit
• Favourable conditions – declining global production, falling stockpiles, tightening supply in zinc market, worldwide zinc market in deficit in 2016, 2017
• Immediate opportunity – 24-36 month window to secure zinc-lead projects, add and capture value
• Proven location – projects are in the heart of a world-class zinc province
• Critical infrastructure – roads, power and access already in place
• Strong leadership – experienced team with a track record of value creation and realisation from transactions with Teck (e.g. Meridian Minerals, 700% return)
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Company Snapshot (ASX:BUA)Company Snapshot (ASX:BUA)Company Snapshot (ASX:BUA)Company Snapshot (ASX:BUA)
The Transaction
• Re-compliance listing on the ASX with an associated capital raising
• Historical expenditure
• Paperbark expenditure $5.1M
• Bluebush expenditure $6.7M
Capital Raising
• Consolidation pre-capital raising
• $6M raised in conjunction with ASX re-compliance
• $0.20/share
Capital Structure
• 29:1 consolidation
• Shares (at completion): 65,370,885
• Share price: $0.20
• Market capitalisation: $13.1M
• Enterprise value: $7.1M
Board
• Non-Exec. Chairman: Peter Wall
• Managing Dir: Jeremy Read
• Non-Exec Dir: Ian Wallace
• Non-Exec Dir: Adam Blumenthal
Shareholders
• Current shareholders 25.8%
• Seed investors 8.4%
• New shareholders 45.9%
• Teck 19.9%
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Management Track Management Track Management Track Management Track RRRRecordecordecordecord
• Created and managed four ASX listed companies where investor funds have been used to discover and increase mineral resources up to the commencement of mining
• 700% return from the last zinc company we managed, which purchased an asset from Teck (Meridian Minerals)
• Successfully brought together mineral projects and companies to be listed on the Australian, London and Botswana Stock Exchanges
Meridian Minerals Limited (ASX: MII)
• Formed company in 2008
• Capital raised: A$25M
• Share price rose from 2 cents to 14 cents
• Largest shareholder purchased company in 2011
• $76 million returned to shareholders
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Volume
('000) Share Price
MII 700% return
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Transaction timetableTransaction timetableTransaction timetableTransaction timetableEvent Date
Capital Raising Prospectus is lodged with ASX 19 June
Fund raising Road Show 20-27 June
Opening date of prospectus offer 20 June
General Meeting to approve Proposed Acquisition 30 June
Prospectus Offer Closes 30 June
Settlement of the Proposed Acquisition 18 July
Issues of Securities Under the Offer 18 July
Dispatch of Holding Statements 19 July
Expected date for reinstatement to quotation on ASX 24 July
Item Budget
Exploration Expenditure $2,814,000
Acquisition Costs $400,000
Repayment of existing liabilities $372,937
Expenses of the offer $567,350
Administration and Compliance Costs $1,239,420
Working Capital $606,293
TOTAL $6,000,000
2 Year Budget2 Year Budget2 Year Budget2 Year Budget
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Project PortfolioProject PortfolioProject PortfolioProject PortfolioProjects
• Paperbark — zinc and copper• Bluebush — zinc• Coober Pedy — copper and gold
Location
• Paperbark — 25km SE of Century Mine• Bluebush — 72km NE of Century Mine• Coober Pedy — Central South Australia
Regional Infrastructure
• Mothballed Century Mine processing plant*• Power line to Century Mine• Slurry pipeline to the coast*• Road access• Airstrip** Assets being acquired by New Century Resources Limited — Pursuit
would need to negotiate access
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Development StrategyDevelopment StrategyDevelopment StrategyDevelopment Strategy
Bluebush Project
• Confirm the zinc mineralisation system contains economic widths
and grades of zinc, with the potential to deliver a world class zinc
deposit
• Locate the focus of Australia’s largest zinc system
Paperbark Project
• Assess the potential to define a copper oxide mineral resource
suitable for early cash flow
• Define a copper sulphide mineral resource, following up the only
drill hole into 17 strike/km of copper anomalism, which delivered
6m @ 1.1% Cu, 10 g/t Ag
• Upgrade, extend, enhance (heavy media separation) the JB Mineral
Resource (10Mt @ 3% Pb+Zn*) to deliver a financeable project
* Refer to ASX Announcement by Burrabulla Corporation, 24th April, 2017 Page 32
Coober Pedy Project
• Confirm the rocks at the Cyclops Prospect are the same age as
Prominent Hill and Olympic Dam
Corporate
• Participate in rising zinc project valuations as the zinc price
continues to firm over the next 12-36 months
• Take advantage of access to infrastructure and the
consolidation of mineral resources and infrastructure in North
Qld
• Create and capture value within a 24-36 month period
• Aim to deliver minimum returns of 500%
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Why Zinc and Lead?Why Zinc and Lead?Why Zinc and Lead?Why Zinc and Lead?
ZnZnZnZn
9 0 % 9 0 % 9 0 % 9 0 % of p e a kof p e a kof p e a kof p e a k
PbPbPbPb
8 5 % 8 5 % 8 5 % 8 5 % of p e a kof p e a kof p e a kof p e a k
NiNiNiNi
4 2 % 4 2 % 4 2 % 4 2 % of p e a kof p e a kof p e a kof p e a k
CuCuCuCu
6 8 % 6 8 % 6 8 % 6 8 % of p e a kof p e a kof p e a kof p e a k
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Zinc MarketZinc MarketZinc MarketZinc Market
• Mine closures (Century, Lisheen) 4% decrease in mine supply
• Aust zinc production decreased by 43% in 2016
• 5.5% decrease in refined zinc production in 2016
• 2016 zinc market deficit of 286kt
• 2017 predicted zinc market deficit of 226kt
• Refined zinc consumption increased by 3.6% in 2016
• Lack of new zinc discoveries
• Stronger for longer positive zinc cycle
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When to Capture When to Capture When to Capture When to Capture VVVValue?alue?alue?alue?
Example of last zinc price cycle
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Mt Isa Super Basin Mt Isa Super Basin Mt Isa Super Basin Mt Isa Super Basin –––– Worlds Worlds Worlds Worlds PPPPremier remier remier remier ZZZZinc inc inc inc PPPProvincerovincerovincerovince• Mt Isa Super Basin is a world-class
metallogenic province and the world’s greatest base metal province
• Hosts six major zinc-lead SEDEX deposits, world class copper deposits and several sub-economic zinc-lead deposits
• Also hosts world-class manganese, bauxite, uranium, phosphate, silver and copper deposits
• Close proximity to the recently closed Century mine in an area of excellent mining-associated infrastructure
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Bluebush ProjectBluebush ProjectBluebush ProjectBluebush Project
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Bluebush Zinc Bluebush Zinc Bluebush Zinc Bluebush Zinc –––– Lead ProjectLead ProjectLead ProjectLead Project
• Potentially the largest sediment hosted deposit in the Mt Isa Province with more than 100km2 of greater than 1% Zn
• Locate setting where mineralisation has been best concentrated, proximal to the intersection of an original extensional basin normal fault and a large-scale, basin-tapping transverse fault
• Abundant space to locate high grade deposit of McArthur River or Century style, grade and size
• Basin a second order sedimentary basin bound by the Tin Tank and Elizabeth Creek faults
• Original extensional basin normal faults, important for mineral deposit formation as occurred at the world-class Century zinc mine south-west of Bluebush.
• Several major NW and NE faults cross through the project area that could have provided pathways for mineralised fluids, in a similar way to the mineralising event at the Century deposit
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Bluebush Zinc Bluebush Zinc Bluebush Zinc Bluebush Zinc –––– Lead Lead Lead Lead Project (drill targets)Project (drill targets)Project (drill targets)Project (drill targets)
• Four drill targets for ~2,000m with the potential to deliver a world-class zinc-lead deposit
– PRL-01: Coincident gravity and EM anomalies and following up BBDD051 along syn-depositional NW fault
– PRL-02: Gravity anomaly and following up of BBDD047 along syn-depositional NW fault towards basin margin
– PRL-03 & 04: Area of known PC thickening (i.e BLBD 22) developed along syn-depositional NW fault
Century
118Mt @ 10.2% Zn, 1.5% Pb
Outline of ~1% Zn Outline of ~1% Zn
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Bluebush Zinc Bluebush Zinc Bluebush Zinc Bluebush Zinc –––– Lead Lead Lead Lead Project (Drill Project (Drill Project (Drill Project (Drill TTTTargets)argets)argets)argets)
Hole Interval (m) Zn % Pb % Depth (m)
BBDD0047 13 1.0 0.4 195
11 2.3 0.1 283
Hole Interval (m) Zn % Pb % Depth (m)
BBDD0051 17 1.4 0.3 231
6 2.6 1.6 258
5 3.4 2.1 279
1 12.8 1.9 282
Hole Interval (m) Zn % Pb % Depth (m)
BBDD0031 32 1.2 1.9 331
3 5.4 - 454
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Paperbark ProjectPaperbark ProjectPaperbark ProjectPaperbark Project
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Paperbark Paperbark Paperbark Paperbark ProjectProjectProjectProjectCopper Oxide and Sulphide Potential
• Three highly anomalous surface copper zones delineated by rock chip and soil samples over two 7-10km long zones
• Potential to quickly define copper oxide deposit capable of production via low cost heap leach processing
• Grunter Copper Zone:
– 7km long anomalous copper zone, virtually untested
– Similar structural setting to Gunpowder copper deposit
– Only one drill hole completed so far to test copper potential at Gunter South and it intersected: 6m @ 1.1% Cu & 10g/t Ag
• Torpedo Copper Zone:
– 10km long, +100ppm copper anomaly from soils
– Completely untested
• Barramundi Copper Zone:
– Large (1km x 200m), highly anomalous copper prospect
– Similar structural setting to Gunpowder copper deposit
– Completely untested
• Drilling targets defined/Exploration program ready
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Paperbark Paperbark Paperbark Paperbark ProjectProjectProjectProjectZinc Potential
• JORC inferred mineral resource of 10.4Mt @ 2.7% Zn, 0.2% Pb, 1g/t Ag at 1.5% Zn cut-off grade* defined at the JB Prospect
• Previous drilling focussed on stratigraphic contained mineralisation, whereas it is the structures which are key and these were never properly tested
• Surface zinc anomalies never tested at the JE Prospect
• JE Prospect taps a deeper, more fundamental structure, more capable of generating higher zinc grade mineralisation, with more room to generate larger tonnages
• Five hole drill test planned
* Refer to ASX Announcement by Burrabulla Corporation,
24th April
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Paperbark ProjectPaperbark ProjectPaperbark ProjectPaperbark ProjectJB Prospect – Lead-Zinc Deposit
• 10Mt @ 3% Zn+Pb
• Heavy media separation of ore upgraded mill feed to approx. 15% Pb+Zn
• Potentially able to be mined via an open pit
• 94.8% recovery to produce a 55.6% Zn concentrate
• 90.1% recovery to produce a 60.3% Pbconcentrate
• Low deleterious elements and simple flow
• Century Mill, 25 km away
• Ability to significantly grow existing mineral resource
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Paperbark Project Paperbark Project Paperbark Project Paperbark Project –––– Drill Hole JB008, 6M @1.1% CuDrill Hole JB008, 6M @1.1% CuDrill Hole JB008, 6M @1.1% CuDrill Hole JB008, 6M @1.1% Cu
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Coober Pedy Coober Pedy Coober Pedy Coober Pedy –––– South AustraliaSouth AustraliaSouth AustraliaSouth Australia
• 1,165km2 in the world’s premier IOCG province
• Gawler Craton hosts world-class IOCG deposits
– Olympic Dam
– Prominent Hill – 303Mt @ 1% Cu, 0.71g/t Au
– Carapateena
• IOCG deposits found by drilling gravity and magnetic anomalies
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+ Thank you+ Thank you+ Thank you+ Thank you
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Competent Persons StatementCompetent Persons StatementCompetent Persons StatementCompetent Persons Statement
• The information contained in this presentation relating to exploration results and mineral resources were previously announced to ASX by the Company on 24 April 2017 in an announcement titled ’Burrabulla Corporation Limited to Acquire Base Metal Projects’ (Previous Announcement) with the written consent of Mr Jeremy Read in relation to exploration results and Mr Simon Tear in relation to the mineral resource for the JB Prospect (the Competent Persons).
• The Company is not aware of any new information or data that materially affects the information included in the Previous Announcement. The Company confirms the material assumptions and technical parameters underpinning the mineral resource estimates in the Previous Announcement continue to apply and have not materially changed. The Company also confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified.
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DisclaimerDisclaimerDisclaimerDisclaimer• This Company Presentation (“Presentation”) is for informational purposes only and is not a prospectus, disclosure document or
offer document under the Corporations Act 2001 (Cth) or any other law. This Presentation does not constitute, and is not to be construed as, an offer to issue or sell, or a solicitation of an offer or invitation to subscribe for, buy or sell securities in BurrabullaCorporation Limited ACN 128 806 977 (“BUA”).
• This Presentation is not addressed to, or intended for use by, any person who is not a sophisticated investor or professional investor, as defined in the Corporations Act 2001 (Cth) (Prospective Investor). Any material used in this Presentation is only an overview and summary of certain data selected by the management of BUA. This Presentation does not purport to contain all information that Prospective Investors may require to make an informed assessment of the Company or its securities. Prospective Investors should rely on their own investigations, including of the risks associated with an investment in the Company. Before making an investment, Prospective Investors should consider (with the assistance of professional advice) whether an investment in the Company is appropriate in light of their particular investment objectives and financial circumstances.
• Statements in this Presentation are made only as of the date of this Presentation unless otherwise stated and the information in this Presentation remains subject to change without notice. Reliance should not be placed on information or opinions contained in this Profile. To the maximum extent permitted by law, BUA disclaims any responsibility to inform any recipient of this Presentation on any matter that subsequently comes to its notice which may affect any of the information contained in this Presentation and undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise.
• No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in or derived from this presentation or any omission from this Presentation or of any other written or oral information or opinions provided now or in the future to any person.
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