MINOTAUR 1
Minotaur's points of difference
Enviable recordof exploration success
Focus and quality of core assetsunderpins exploration potential in Queensland and South Australia
Business model based on JV partnerships optimises cash reserves andmaximises exploration breadth
In the top 5% of most active'junior miners' for exploration activity through FY2016
History of responsible capital management with astrong balance sheet
High profile share register includingSprott, OZ Minerals, Sandfire and FMR InvestmentsExtensive work programs with OZ Mineralsunderway at flagship Eloise JV and around Prominent Hill mine
Iris (part of the Eloise JV with OZ Minerals)confirmed as a new Iron Sulphide Copper-Gold discovery
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Corporate snapshot
Strong mining shareholders, smart mining money and high quality JV partnersAbout Minotaur Exploration (ASX: MEP)
Primary focus on copper and gold explorationin Queensland and S.A.
Well regarded for explorationtechnical excellence
Supportive andhigh quality JV partners
Monetising non-core assets(S.A. and W.A. projects)
Share price performance over last 12 months
Share price (Ac per share) Volume (m)
Major shareholders
Sprott Inc. (TSX: SII) a global resources fund
Yarraandoo Private Australian mining investor
OZ Minerals ASX-listed copper-gold miner with a market capitalisation of c. A$1.8bn
FMR Investments Owner/operator of the Eloise Copper Mine, Queensland
Sandre Resources ASX-listed copper miner with a market capitalisation of c. A$0.8bn
12.9%
6.2%
3.8%
1.4%
1.2%
Top 20 35%
JV partners and collaborators
OZ Minerals Australian copper-gold producer
Sandre Resources Australian copper-gold producer
JOGMEC Japan Oil, Gas and Metals National Corporation; Japanese Government entity
Sumitomo Metal Mining OceaniaMajor global metals producer & rener
14 21
12 18
10 15
8
6
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Recent period of outperformance and increased
2 liquidity post drilling program announcements
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9 Financial information
6 Number of shares 212.4m
Market capitalisation A$20.6m
3 Share price (14-Nov-16) A$0.097
-
Nov-15 Feb-16 May-16 Aug-16 Nov-16
MEP daily volume Minotaur ASX 300 Metals & Mining Index (rebased)
Source: IRESS
Cash (30-Sep-16) A$2.9m
Enterprise value A$17.1m
Listed investments (14-Nov-16) A$0.6m
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Exploration funding model
Minotaur's business model is based on JV funding; minimising cash depletion and maximising exploration optionsStrategic alliances with high prole partners (OZ Minerals, Sandre, JOGMEC, Sumitomo) expand Minotaur's project capacity and maximise the impact of Minotaur's exploration options
Minotaur maintains exploration expenditureat a level consistently greater than the typical 'junior miner'2
Minotaur's operational cash flows vs. junior miner average (A$m)1
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Minotaur cash ows
5
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(5)
FY2016 expenditure Minotaur Junior miner average Exploration expense A$5.0m A$1.2m
Admin expense A$1.3m A$1.2m
Admin / exploration 0.26x 1.0x
(10)
Average junior miner cash ows2
(15)
FY 2012 FY 2013 FY 2014 FY 2015 FY 2016
Development Other operating cash ow (JV receipts, R&D refunds, etc.) Admin Exploration
Source: Appendix 5Bs, Bloomberg, IRESS
Notes:
Chart totals correspond to quarterly exploration plus administration expenditure by Minotaur and the average of junior miners
Junior miners includes ASX-listed metals & mining companies with a market capitalisation of
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Minotaur Exploration Ltd. published this content on 17 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 November 2016 08:23:12 UTC.
Original documenthttp://www.minotaurexploration.com.au/sites/default/files/documents/MEP_ASX-2016AGM%20Presentation.pdf
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