Building a leading global resources group Corporate Presentation November 2014

Building a leading global resources group
Tigers Realm Metals Pty Ltd
Corporate Presentation
November 2014
This presentation contains important information and should be read in its entirety.
All currency figures are in A$ unless otherwise noted.
Corporate Overview
Building a leading global resources group
Overview
TRG Structure
Tigers Realm Group (TRG) is a private resources house which seeks to
generate superior returns via the acquisition, development and operation
of minerals and metals projects globally.
Investors in Tigers Realm Minerals Pty Ltd (TRM), TRG’s parent entity,
acquire exposure to a diversified portfolio of exciting resources projects
and a pipeline of new opportunities.
TRM identifies and acquires equity interests in high quality mineral
resources projects in the pre-operating phase when the opportunity
exists to unlock significant multiples of value.
The TRM team comprises highly experienced technical and commercial
professionals with proven track records in identifying and advancing
mining projects through resource delineation, feasibility studies,
financing and construction into profitable operations.
TRM
5.4%
NexGen
80%
Amaam &
Amaam Nth
100% Rook,
Earning 70%
Radio
TRM, in conjunction with its network of independent technical
consultants, conducts rigorous due diligence of all potential acquisition
opportunities.
TRM has strong relationships with a number of large funds able to
provide financial support for significant investments.
An investment in TRM also provides investors with the potential for a
direct exposure to group assets via in-specie distributions or other
corporate transactions involving acquisitions of shares in TRG entities.
32.9%
TRMetals
13.3%
TRCoal
Direct Project
Interests
100%
TRCopper
28%
Carube1
Earning 80%
Beutong
100%
Jamaica
Legal entity
Project
1. Prior to potential transaction with TSX-V company
Note: simplified structure – a number of 100% owned holding companies are not shown
2
Building a world class copper and gold business
Important information and disclaimer
This presentation (“Presentation”) has been prepared by Tigers Realm Metals Pty Ltd (“Company”) and is provided solely for information purposes. By viewing this Presentation, you agree to be bound by
the following conditions:
•
This Presentation is not a prospectus or disclosure document and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any
securities or an inducement to enter into any investment activity, nor shall any part or all of this Presentation form the basis of, or be relied on in connection with, any contract or investment decision in
relation to any securities.
•
The information contained in this Presentation has not been independently verified. The Company does not make any representation or warranty, express or implied, as to the fairness, accuracy,
correctness or completeness of the information, opinions and conclusions contained in this Presentation.
•
To the maximum extent permitted by law, the Company and its related bodies corporate and affiliates, and their respective directors, officers, employees or agents, disclaim any liability (including,
without limitation, any liability arising out of fault or negligence) for any loss or damage arising from any use of the information contained in this Presentation, including any error or omission, or
otherwise arising in connection with it.
•
The information in this Presentation is subject to change without notice. Subject to any obligations under applicable law, the Company does not undertake any obligation to update any information in this
Presentation.
Qualified Person
The disclosure of scientific and technical information regarding the Beutong Copper Project in this presentation was prepared by or reviewed by Stephen Hughes, P.Geo., the Company’s Regional Exploration
Manager, who is a Qualified Person in accordance with the requirements of NI 43-101.
Competent Persons statement
The information in this presentation relating to resources within the Beutong Copper Project is based on information provided by Duncan Hackman, an employee of Hackman and Associates Pty Ltd. Duncan
is a member of the Australian Institute of Geoscientists and has sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity undertaken to qualify
as a Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2004 Edition). Duncan Hackman
consents to the inclusion in the Presentation of the matters based on his information in the form and context in which it appears.
Forward-looking statements
This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, ‘intends’ and other variations of such 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, 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 the Company. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including uncertainty in estimating
mineral resources due to the preliminary stage of the Company’s assessment of its projects, actual demand, price fluctuations, the ability to produce and transport products profitably, fluctuations in foreign
currency exchange rates, operational problems, political risks, economic and financial market conditions in various countries and regions, industry competitors and activities by governmental authorities such
as changes in taxation or regulation. The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained
in this Presentation will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
The Company does not intend 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 Presentation, except where required by law.
These forward-looking statements are subject to various risk factors that could cause the Company’s actual results to differ materially from the results expressed or anticipated in these statements.
4
Company Overview
Overview
TRMetals is focused on developing and expanding its portfolio of high
quality copper and gold assets and executing a liquidity event for
shareholders within the next 6-12 months.
Key projects include:
 Beutong Copper Project (Aceh, Indonesia)1
 Strategic Investments (28% of Jamaican focused coppergold explorer, Carube Resources)
Tigers Realm Metals Group Structure2
Tigers Realm
Minerals (TRM)
33%
Maiden JORC compliant resource estimated by TRMetals in
Q3 2012
505Mt at 0.59% Cu Eq. (0.3% Cu cut-off)3
Higher grade core of 153Mt at 0.76% Cu Eq.3
Mineralisation open in all directions
Carube
Resources
Other TRMetals
Shareholders
46%
TRMetals
TRMetals continues to pursue high quality, long life assets with
competitive capital and operating costs
Beutong
Copper
Mt Kellett PE
Fund
21%
100%
TRCopper
28%
Carube Resources
Beutong
Option to
earn 80%
Jamaica
100%
Project Locations
Potential for large scale porphyry copper and gold deposit
Significant intersections from current drilling campaign at
Bellas Gate Project:
 260m at 0.44% Cu and 0.19g/t Au including 107.0m of
0.59% Cu and 0.34g/t Au
 112.0m at 0.48% Cu and 0.33g/t Au including 59.0m of
0.55% Cu and 0.49g/t Au
 297.0m at 0.40% Cu and 0.24g/t Au including 55.0m of
0.67% Cu and 0.59g/t Au
1.
2.
3.
Jamaica Copper
(Copper/Gold)
TRMetals currently owns a 40% interest in the Beutong project and can earn up to 60% upon payment of A$2.9M to the project vendor
and up to 80% upon payment of a further A$1.5M to the project vendor and completion at TRMetals’ cost of a bankable feasibility study.
Simplified structure diagram – some interposed holding companies are not displayed.
See Footnote on page 13 regarding CuEq. calculation
Beutong
(Copper/Gold)
5
Board and Senior Management
Highly experienced technical and commercial professionals with proven track records
Directors
Senior Management
Owen Hegarty
Chairman
40+ yrs industry experience, including
senior executive roles with Rio Tinto.
Founder and CEO Oxiana. Director
Fortescue, AusIMM. Founder TRM, TRCoal.
Tony Manini
CEO
25+ yrs industry experience including 14 yrs
Rio Tinto. Senior executive at Oxiana/OZ
Minerals. Founder TRG, TRCoal. Chairman
TRCoal.
David Forsyth
Company Secretary
40+ yrs industry experience, including
Oxiana/Oz Minerals. Experience covers
engineering, project development and
mining.
Stephen Hughes
Regional Exploration Manager
Geologist with 17+ yrs mineral
exploration, project generation and
evaluation, resource and mine geology
experience at Freeport and Oxiana.
John Chomley
General Manager - Business
Development
Chemical Engineer with 20+ yrs industry
experience including key member of
Oxiana Business Development Team.
Jim Dynon
General Counsel
Commercial Lawyer with 30+ years industry
experience including BHPB General Counsel
– Iron Ore & Uranium & BHPB Chief Legal
Officer Petroleum.
Peter Colbert
Chief Consultant – Projects and Studies
Metallurgist, 35+ yrs in operations,
project development and technical
services. Key role in Prominent Hill
copper mine development.
6
Team Track Record
Creating significant value through exploration and development
Case Study
Commodity
Country
Project
Type/Scale
Sepon
Gold
Laos
Exploration Discovery
PFS, BFS
Development, Expansion
5Moz Au Resource
1.5Mt-3.5Mtpa CIL
200,000ozpa
Sepon
Copper
Laos
Exploration Discovery
PFS, BFS
Development, Expansion
2Mt Contained Cu Resource
SX-EW
80,000t Cu Cathode
Australia
Mine Acquisition
Brownfields Discoveries
Major Resource Expansion
Contained Resource of 1.4Mt Zn,
800kt Cu, 1Moz Au, 44Moz Ag
Annual Production of 140kt Zn, 18kt
Cu, 48Koz Au, 3Moz Ag, 13Kt Pb
Australia
Exploration Acquisition
Resource Drill out
Major Resource Expansion (x6)
PFS,BFS, Development
2.5Mt Contained Cu Resource
7.4Moz Au Resource
8Mtpa Cu-Au Concentrate
~ 100,000t Cu, 150,000oz Au pa
Golden Grove
Cu-Zn-Au-Ag
Prominent Hill
Copper / Gold
Okvau
Gold
Cambodia
Exploration Discovery
Initial Resource
Divested
1.2Moz Au Resource
Martabe
Gold
Indonesia
Exploration Acquisition
Major Resource Expansion (3 to 8Moz)
PFS,BFS, Development
8Moz Au Resource
4.5Mtpa CIL
250,000ozpa
Amaam and
Amman North
Coking Coal
FE Russia
Exploration Discovery
Resource Drill out
Resource Expansion, PFS
536Mt Coking Coal Resource
Total Exploration Target
175Mt – 695Mt
Beutong
Copper/Gold
Indonesia
Exploration Acquisition
Resource Drill out
2.4Mt Contained Cu, 2.1Moz Au,
20Moz Ag Resource
7
Team Track Record – Oxiana Limited
Creating significant value through exploration stage acquisition and development
Oxiana significantly
outperformed industry
benchmarks from 2000
to 2008 by acquiring
exploration stage
projects and developing
them into large scale
producing assets.
ACQUIRED MARTABE
Indexed share price
Oxiana progressed from
a small exploration
company valued at $3m
to a globally significant
diversified base and
precious metals mining
house valued at $6b.
ZINFEX AND OXIANA
(OZMINERALS) MERGER
Sepon
2MT Cu Resource
5Moz Au Resource
Prominent Hill
2.5Mt Cu Resource
7.4Moz Au Resource
CONSTRUCTION COMMENCES AT
PROMINENT HILL
Golden Grove
1.4Mt Zn Resource
800kt Cu Resource
1Moz Au Resource
ACQUIRED GOLDEN GROVE
During this period, Owen
Hegarty (TR Metals
Founder and Chairman)
was awarded the
AusIMM Institute Medal
and G.J. Stokes Medal
for achievement and
leadership in the
minerals industry.
ACQUIRED PROMINENT HILL
Martabe
8Moz Au Resource
FIRST COPPER AT SEPON
FIRST GOLD AT SEPON
ACQUIRED SEPON
2000
2001
2002
OXIANA
2003
BHP
2004
RIO
2005
2006
2007
2008
TODAY
ASX 200 Resources
8
8
Strategy
Build a significant Copper and Gold mining company
1.
2.
3.
Deliver liquidity to shareholders

Merger or takeover of TR Metals for listed shares – preferred and being pursued

TR Metals – Major shareholder, Board and Management

Concurrent capital raising to fund acquisition of additional project

Leverage listing to grow business
Build a significant copper - gold business with solid cash flow and a strong growth profile

Focus on acquiring a high quality asset with a readily fundable scale/grade profile. Strong
preference for producing or near term development project

Current cyclical downturn is generating greater opportunity and value

Continue progressing Beutong Cu-Au project up the value curve through permitting and
development studies
Maximise value of non-core assets

Carube - shareholding to be retained as a investment. Exit in better market
9
Tigers Realm Metals
Portfolio
10
Beutong Copper Project
Overview
 TRMetals is developing the Beutong
Copper-Gold Project located on the
Island of Sumatra, approximately 180km
south east of Banda Aceh.
 The project comprises a large scale
copper-gold-molybdenum resource with
a high grade core and potential for
significant additional upside.
 Beutong has an initial JORC compliant
Resource of 505Mt at 0.59% Cu Eq.1
(0.3% Cu cut-off) and high grade core of
153Mt at 0.76% CuEq.1 (0.5% Cu cutoff).
 TRMetals has current project ownership
of 40% and an option to earn up to 80%
though a JV with PT Emas Mineral
Murni (PT EMM) a private Indonesian
company.
Beutong
Project
Beutong
Project Site
 The tenement covers an area of 100km2
held under an exploration license (IUP).
 Forest classification over the tenement
allows exploration and open pit mining.
 The tenement covers two porphyry
copper-gold-molybdenum prospects West and East Porphyries and the
Beutong Skarn (copper-gold).
 Excellent infrastructure exists with major
road, grid power and a port located
nearby.
1.
See Footnote on page 13 regarding CuEq. calculation
11
Beutong Copper Project
Large scale Resource with high grade core and significant additional upside
Significant Resource Base:
505Mt at 0.59% Cu Eq.1 (0.3% Cu cutoff)
Higher Grade Core:
153Mt at 0.76% Cu Eq.1 (0.5% Cu cutoff)
Contained Metal:
 2.4Mt Copper
 2.1M Oz Gold
 20M Oz Silver
 137M lb’s Molybdenum
 3.0Mt Copper equivalent
Deposit outcrops at surface and is open to the East, West and at depth
1. See footnote on page 13 regarding CuEq. Calculation (shown below)
CuEq = Cu+(Mo ppm/10000 * 3.8883) + (Au g/t * 0.5089) + (Ag g/t * 0.0063)
12
Beutong Copper Project
Large scale Resource with high grade core and significant additional upside
Classification (JORC 2004)
Mineralisation
Measured
East Porphyry
East Porphyry
Skarn
East Porphyry
West Porphyry
Weak East Porphyry
Weak West Porphyry
Skarn
Total
Total
Total
Indicated
Inferred
Measured
Indicated
Inferred
Total
Classification (JORC 2004)
Mineralisation
Measured
East Porphyry
East Porphyry
Skarn
East Porphyry
West Porphyry
Weak East Porphyry
Weak West Porphyry
Skarn
Total
Total
Total
Indicated
Inferred
Measured
Indicated
Inferred
Total
Beutong Cu 2012 Resource Estimate - Report at 0.3% Cu Lower Cut
Grade
Tonnes (Mt)
Cu Eq (%)
Cu (%)
Au (ppm)
Ag (ppm)
Mo (%)
34
0.77
0.66
0.13
1.76
90
52
0.66
0.56
0.10
1.54
110
7
0.88
0.70
0.28
5.84
8
68
0.62
0.51
0.09
2.07
139
331
0.56
0.43
0.14
0.78
128
6
0.46
0.36
0.06
1.09
153
1
0.44
0.36
0.11
1.06
45
5
0.80
0.64
0.24
5.22
10
34
0.77
0.66
0.13
1.76
90
59
0.69
0.58
0.12
2.02
99
412
0.56
0.44
0.13
1.05
129
505
0.59
0.47
0.13
1.21
123
Beutong Cu 2012 Resource Estimate - Report at 0.5% Cu Lower Cut
Grade
Tonnes (Mt)
Cu Eq (%)
Cu (%)
Au (ppm)
Ag (ppm)
Mo (ppm)
28
0.82
0.71
0.13
1.81
91
34
0.75
0.64
0.10
1.64
113
4
1.06
0.84
0.34
6.46
7
35
0.76
0.63
0.11
2.25
159
48
0.67
0.54
0.16
0.83
120
0
0.69
0.55
0.09
1.36
223
0
0.66
0.59
0.08
2.55
33
3
0.92
0.74
0.27
5.59
9
28
0.82
0.71
0.13
1.81
91
38
0.78
0.66
0.13
2.20
101
86
0.71
0.58
0.14
1.60
132
153
0.76
0.63
0.14
1.79
116
Cu (Kt)
227
295
46
349
1,407
22
5
30
227
341
1,813
2,381
Metal
Au (kOz)
Ag (kOz)
138
1,936
175
2,585
59
1,234
203
4,544
1,499
8,334
12
209
5
49
36
791
138
1,936
234
3,819
1,755
13,927
2,128
19,682
Mo (Kt)
3
6
0
9
42
1
0
0
3
6
53
62
Cu (Kt)
200
218
38
220
256
1
1
25
200
256
503
959
Metal
Au (kOz)
Ag (kOz)
115
1,637
111
1,789
48
928
127
2,533
248
1,262
1
9
0
11
30
618
115
1,637
159
2,717
406
4,433
679
8,787
Mo (Kt)
3
4
0
6
6
0
0
0
3
4
11
18
Rounded estimates – rounding may cause apparent computational discrepancies. Significant figures do not imply precision. Nominal lower Cu grade applied.
Note: CuEq. is calculated using the Company derived formula shown below. This was not part of the Resource Estimate Statement provided by the Competent Person.
CuEq = Cu+(Mo ppm/10000 * 3.8883) + (Au g/t * 0.5089) + (Ag g/t * 0.0063)
13
Beutong Copper Project
Significant potential for a large, high quality porphyry Cu-Au deposit
 Drilling completed at Beutong to date clearly indicates
potential for a large, high quality porphyry Cu-Au deposit
similar to those seen elsewhere in Asia Pacific e.g. Batu Hijau
(8Mt Cu, 16Moz Au), Tujah Bukit (6.8Mt Cu, 25Moz Au).
 Recent drilling at Beutong West has confirmed open pittable
mineralisation extending over wide intervals
e.g. 205m at 0.71% CuEq.
 Beutong East mineralisation now extended to over 900
meters depth from surface.
 Potential for expansion of the resource is clearly evident at
both Beutong East (BEP) and Beutong West Porphyry (BWP)
with further drilling.
 Copper and gold grades both increase and have stronger
correlation at depth, suggesting a deeper potassic core to the
system. This is highly attractive from both an exploration and
metallurgical perspective.
 Surface geochemistry (Cu and Mo) and geology highlights
additional new target areas of potential mineralisation.
 High grade poly-metallic mineralization to follow up: 13.5m @
9.1% Zn, 2.75% Pb, 65g/t Ag, 0.32g/t Au, 1.27% Cu
From
WEST PORPHYRY
BEU1700D-01
102.0
BEU1700D-01
150.0
incl. 198.0
BEU1700D-01
366.0
BEU1700D-01
519.0
incl. 587.0
EAST PORPHYRY
BEU0800D-01
111.0
incl. 260.0
BEU0800D-01
452.0
incl. 505.5
incl. 619.0
Significant Assays from recent drilling program
To
Length(m) Cu (%) Au (g/t) Ag (g/t) Mo (ppm) CuEq (%)
135.0
355.0
269.0
396.0
830.0
670.0
33.0
205.0
71.0
30.0
311.0
83.0
0.44%
0.57%
0.75%
1.24%
0.42%
0.56%
0.11
0.11
0.15
0.08
0.16
0.22
0.8
0.8
1.1
2.7
0.5
0.9
35
221
267
87
186
338
0.51%
0.71%
0.93%
1.32%
0.58%
0.80%
390.0
390.0
728.0
526.0
646.0
279.0
130.0
276.0
20.5
27.0
0.54%
0.64%
0.60%
0.78%
0.93%
0.13
0.11
0.11
0.10
0.11
1.2
1.7
4.6
2.3
9.1
83
109
142
285
229
0.64%
0.74%
0.72%
0.94%
1.08%
14
Beutong Copper Project – Multiple Ore Types – Significant Upside

High Grade Cu-Au Skarn
Drill Hole BC007-01
Soils confirm 1.1km strike length,
 33m @ 2.31% Cu, 1.23g/t
only 300m tested

High Grade Porphyry Cu-Au-Mo
Drill Hole BEU0800-03
Drilled over 900 vertical meters of
 343.3m @ 1.06% Cu,
strongly mineralized porphyry

Au and 17.9g/t Ag
0.18g/t Au and 132ppm Mo
High Grade HS Epithermal Cu - Au BEU1700D-01 & BEU0700-03
Intersected numerous high grade
high sulphidation feeders
 10m @ 3.11% Cu, 0.10g/t
Au
 6m @ 0.52% Cu, 3.69g/t Au

High Grade Potassic Cu-Au Core
Drill Hole BEU0900-01
Several small sections drilled to
 3M @ 0.96% Cu, 0.25g/t Au
date. Further testing required
and 183ppm Mo
15
Beutong Copper Project
Licence ownership and status
 The Beutong IUP Exploration licence is currently owned
by private Indonesian PMA company PT EMM, and has
Clean and Clear status from Ministry of Energy and
Mineral Resources.
 TRMetals currently owns 40% of PT EMM via its 50%
holding of Beutong Resources Pte Ltd (BRPL), with the
balance of BRPL and PT EMM owned by joint venture
partner PT Media Mining Resources (MMR).
 PT EMM has been granted a one year suspension of the
IUP exploration licence to June 2015 (expired June 2014).
Currently in the process of converting the IUP exploration
licence to an IUP production licence.
Beutong Project
 The Beutong deposit is covered by forestry classification
Areal Penggunaan Lain (Other Purposes) and is not
encumbered by any forestry restrictions.
Beutong
East Porphyry
16
Beutong Copper Project
Excellent infrastructure – Power, Port and Road
 The Beutong Project is located on the southern edge of the Barisan Mountains, 60 km inland and northeast of the township of
Meulaboh, Aceh.
 Access to the Beutong Project is via partially sealed roads from the regional towns of Meulaboh and Takengon.
 The city of Meulaboh has a population of approximately 50,000 and an active commercial airport.
 A new seaport is currently under construction, located approximately 5km southeast of the Meulaboh city.
 A coal-fired power station, with planned output of 2 x 110MW, has been built approximately 5km southeast of Meulaboh. Power would
be delivered to the project via a 45km 150 kV overhead power line.
Completed 220MW Power Plant.
A new Port is under construction
Beutong
Project
Power Plant
Port
17
Beutong Copper Project
Beutong progress update
Beutong Project – target milestones
Status
East Porphyry Drill program
Maiden JORC Resource
Application for licence revisions
Application for licence conversion
Award of licence revision
Award of licence conversion
Earn 4th equity interest – increasing Project Ownership to 60%
Resource expansion drilling program
H1 2015
Expenditure requirement met
Option Payments of $2.875m due 3-months
post licence conversion
Post licence conversion
18
Beutong Copper Project
2014-2015 Development Program
Beutong next steps:
 Conversion of Exploration Licence to
Production Licence.
 Resource expansion drilling program
 Resource expansion drilling along strike
and to depth on east porphyry
 Resource evaluation drilling on west
porphyry
 Determine economic viability and options for
development:
 Infill drilling to upgrade resource
confidence on east porphyry
 Mine engineering optimisation studies for
open pit and bulk underground operation
 Comprehensive metallurgical test work
 Infrastructure studies – roads, port,
power, water
 Detailed environmental studies
 Continued community and social
engagement programs and studies
CSR Training Site
Water Sampling
19
South East Asia/Pacific – Exceptional Mineral Potential
 Southeast Asia - Pacific is a proven region with a number of world class mining operations as depicted below
 Global mining companies are well represented – Freeport, Barrack, Newmont, Newcrest, RioTinto
 Highly prospective for most metals, particularly Cu and Au, but remains very underexplored
 Close proximity to the worlds major metals consumer markets
 TRMetals team has extensive experience and a highly successful track record of creating value for shareholders the AsiaPacific Region. It is a core competitive strength of TRMetals
2.4Mt Cu 2.1MozAu
20
Carube Resources Inc. - Jamaica Copper Project
Targeting porphyry copper-gold in underexplored terrain
Jamaica Copper Project Overview
 TRMetals and Rodinia Resources combined their Jamaican mineral
license interests with Carube Resources Inc (Carube), a private
Canadian exploration company.
Bellas Gate Project - Conors Prospect
Significant Intersections
 TRMetals holds a 28% interest in Carube.
 Carube holds six under-explored licenses in Jamaica with excellent
exploration potential for epithermal, skarn, oxide and porphyry mineral
systems.
 The Bellas Gate Project (BGP) consisting of two licenses is the subject
of a Joint Venture with OZ Minerals (“OZ”).
 OZ commenced a drilling program focused on four of the 14 high priority
targets defined on the southern part of the BGP in February 2014.
 Carube intends to list on the TSX via a Reverse Take-Over Transaction
with Miocene Metals.
 TRMetals intends to hold its interest in Carube as an investment until
markets improve.
21
Contact details
Tony Manini
Tigers Realm Metals Pty Ltd
Managing Director and CEO
T: +613 8644 1300
[email protected]
tigersrealmgroup.com
22