Investor Presentaiton
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PROJECT HISTORY
MIBA Bid Process & Due Diligence
leads to acquisition of adjacent tenements
Negotiated an Exclusivity Agreement on the MIBA project which adjoins the Rio
Pardo tenement
Did extensive financial and technical due diligence on the MIBA Project (2009- 2010)
Commissioned independent Minproc Reports that demonstrated upgrade potential
to pellet feed grade
Provided good understanding of regional iron ore mineralisation, project parameters
and economics
Offered staged payments of US$250M over 2 years. Vendor rejected this offer in
favour of cash up front offer from Steel do Brazil (May 2010)
Geological due diligence on MIBA project identified the extension of the iron ore
mineralisation onto adjacent ground
Led to acquisition of Rio Pardo (adjacent to MIBA) with much more advantageous
entry price
MINAS NORTE MINERACAO LTDA
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