Proactiveinvestors Australia

AusNiCo's Main Projects

AusNiCo discovered ore grade nickel sulphide mineralisation at its Pembroke Prospect on the Black Snake Plateau, 30km south of Kilkivan in South East Queensland during mid 2008.

Location of AusNiCo’s tenements, Pembroke & Silver Valley Discoveries at Black Snake Plateau, 220 km northwest of Brisbane

Commercial Significance

Nickel Sulphides are highly prized, rare discoveries.

There have only been two ore-grade nickel sulphide discoveries in Eastern Australia in the last 55 years, namely the Avebury Nickel Mine in western Tasmania discovered by Allegiance Mining NL in January 1998 and now Pembroke, discovered by AusNiCo in 2008.

Jubilee Mines was purchased by Xstrata for more than $2.2 billion in late 2007 and Allegiance was purchased by Zinifex Limited (now OZ Mining Limited) for more than $840 million in mid 2008.

The world’s largest nickel mine is at Norilsk in north-eastern Siberia and it is arguably one of the most valuable mineral deposits on earth. Norilsk is also a relatively young, Paleozoic aged nickel sulphide deposit which may suggest that these “younger-aged” Paleozoic deposits may be more extensive than previously recognised. AusNiCo does not compare its discoveries with Norilsk which is in a class of its own.

However, the Avebury-style Paleozoic-aged nickel deposits are characterised by large thicknesses of nickel mineralisation at low to moderate grades which are ideally suited to modern, large-scale mechanised mining methods, especially if the deposit is at shallow depths that can be mined by open-pit methods.

AusNiCo’s discovery hole PEM2 at the Pembroke Prospect intersected 50 metres of nickel sulphide mineralisation averaging 0.34% nickel, and at the point that the hole was stopped it was still in the nickel sulphide mineralisation. Within that 50 metres of nickel mineralisation was a four (4) metre zone averaging 1.1% Ni which represents an intercept at ore-grades and widths. AusNiCo considers that it has discovered mineralisation that has strong similarities with the Avebury-style of nickel sulphide deposit.

NON-EXECUTIVE MANAGEMENT

Brian Moller – Non-Executive Chairman

LLB (Hons)

Brian Moller is a corporate partner in the Brisbane based law firm Hopgood Ganim. He was admitted as a solicitor in 1981 and has been a partner since 1983. He practices almost exclusively in the corporate area with an emphasis on capital raising, mergers and acquisitions.

He holds an LLB Hons from the University of Queensland and is a member of the Australian Mining and Petroleum Law Association.

Mr Moller acts for many public listed resource and industrial companies and brings a wealth of experience and expertise to the board particularly in the corporate regulatory and governance areas.

Mr Moller is currently a Non-Executive Director of ASX listed D’Aguilar Gold Ltd and Platina Resources Ltd and Solomon Gold plc, which is listed on the London Stock Exchange (AIM). 

Nicholas Mather – Non-Executive Director

BSc (Hons,Geol), MAusIMM

Nick Mather’s special area of experience and expertise is the generation of and entry into undervalued or unrecognized resource exploration opportunities.  He has been involved in the junior resource sector at all levels for more than 25 years. In that time he has been instrumental in the delivery of major resource projects that have delivered significant gains to shareholders. As an investor, securing projects and financiers, leading exploration campaigns and managing emerging resource companies Mr. Mather brings a wealth of valuable experience.

Mr Mather is currently CEO (and co-founder) of Solomon Gold plc (AIM), Managing Director and co-founder of D’Aguilar Gold Ltd (ASX), Non-Executive Director of Bow Energy Ltd (ASX) and Non-Executive Chairman and founder of Waratah Coal Inc (TSX-V).

As an Executive Director (and founder) of Arrow Energy NL until 2004, Mr Mather was responsible for the generation of its Surat Basin Coal Bed Methane project. Arrow Energy now has a market capitalisation of over $3.5 billion.

Previously as CEO of BeMax Resources NL, Mr Mather was instrumental in the discovery of the company’s Pooncarie mineral sands project in 1998. BeMax Resources now has a market capitalisation of over $275 million.

Mr Mather has also been a non-executive Director of Ballarat Goldfields, having assisted with the recapitalisation of the company in 2002. Ballarat Goldfields was recently taken over by Lihir Gold at a value in excess of $300 million.

John Downie CEO & Managing Director

BE(MECHANICAL), AICD

John Downie has agreed to join AusNiCo on listing of the Company on the ASX. Mr Downie was previously the CEO of Gladstone Pacific Nickel Limited, which was dual-listed on the London and Toronto Stock Exchanges, following a USD40 million raising in 2007. During his time with Gladstone Pacific Nickel, Mr Downie was instrumental in obtaining a project funding proposal for USD2.85 billion, and overseeing the completion of the Final Feasibility Studies and Environmental Impact Statement approval for the company’s projects.

Furthermore, he developed relationships with a number of Chinese government owned companies and Chinese Design Institutes involved in commodity development in Australia. His ability to successfully negotiate with traditional landowners at Marlborough and the local Gladstone Community, State and Federal Government for EIS approval for the Gladstone Project is well regarded.

Mr Downie has extensive international corporate and project experience, having held the roles of Director of Mines, General Manager, Operations Manager, Managing Director, President and CEO for various resource companies including Barrack Mines NL, Alcoa of Australia Limited, Boral Resources Limited and Austpac Resources NL in a career spanning 30 years. As mines director at the Vales Goro Mine in New Caledonia he developed an in depth understanding of both the nickel laterite and nickel sulphide technology and markets.

Mr Downie is currently the Chairman of Goldminex Limited, which holds extensive exploration tenements in Papua New Guinea.

Stephen Roberts – Non-Executive Director

FPNA, MAICD

Stephen Roberts has a finance, accounting and business development background with over 25 years experience in the resources industry.  Stephen worked for the BHP Billiton group of companies for 17 years before leaving at the end of 2005, having spent the last 4 years as Chief Development Officer in charge of exploration, technology, business development and M&A for their world wide nickel business.  As CDO, he led BHP Billiton’s nickel evaluation and due diligence team in the US$9.2 billion acquisition of WMC Resources.

Stephen is a past Non-Executive Director of European Nickel Plc and is currently Chair and Non-Executive Director of LinkWater and LinkWater Projects, two of the entities involved in the creation of the SE Queensland Water Grid.  He also consults to a number of resource companies, with a particular focus on strategy, M&A and commercial negotiations.

Ben Harrison

Mr Harrison is an associate director with Bizzell Capital Partners. Prior to joining Bizzell Capital Partners he worked in the corporate finance team at a leading corporate advisory firm where he was involved in a number of high profile capital market and M&A transactions in the resources and industrial sectors. Prior to this Mr Harrison worked as an equities analyst specialising in the minerals and energy sectors.

Mr Harrison commenced his career as a project manager for an international engineering consulting firm, working on a number of large infrastructure projects in Australia and Southeast Asia.   He has experience in project management, financial analysis, primary and secondary market transactions and M&A.  Mr Harrison also has experience in private equity and direct investments and is involved at board and management level in investee companies on behalf of Bizzell Capital Partners and its related entities.

Mr Harrison holds a Bachelor of Science, a Master of Applied Finance and Investment and is a member of the Financial Services Institute of Australasia.

EXECUTIVE MANAGEMENT

Priy Jayasuriya - Chief Finanical Officer

Priy Jayasuriya is a Chartered Accountant with over 15 years of experience in public practice and has broad experience over a number of industries. Priy has worked as a chartered accountant in Australia, Singapore and the United States of America and brings a range of expertise in the areas of due diligence, internal control, corporate governance, international financial reporting and statutory compliance.

Having started his career with Ernst & Young, Priy has gained significant experience in mergers and acquisitions, with a strong background in financial management and reporting. Priy holds a Bachelor of Commerce from the University of Queensland and is a member of the Institute of Chartered Accountants in Australia.

Priy works closely with the CEO, COO and Company Secretary on the day to day financial affairs of the company.

Karl Schlobohm – Company Secretary

B.Comm, B.Econ, M.Tax, CA, AICD

Karl Schlobohm is a Chartered Accountant with over 20 years experience across a wide range of industries and businesses.  He has extensive experience with financial accounting, corporate governance, company secretarial duties and board reporting.  Over the past 5 years, Karl has acted as CFO and/or Company Secretary for a number of ASX-listed companies including Linc Energy, Discovery Metals and Meridian Minerals. He is currently the Group Company Secretary for D'Aguilor Gold (ASX:DSR) and Solomon Gold (LSE/AIM:SOLG).

John Roiko – Exploration Manager

BSc(Geol), MAusIMM

Mr Roiko is a Senior Geologist with a wide and varied experience base incorporating accountability for design, implementation and technical supervision of grass roots through to mine-phase exploration and development programs in a spectrum of geologic terranes.  He has more than 28 years experience as an exploration geologist including 15 years with CRA Exploration.  Mr Roiko’s recent roles have included the design and implementation of approximately 9,000m of resource identification RC and oriented diamond core drilling at the Anduramba Porphyry Molybdenum deposit in SE Queensland resulting in JORC compliant Indicated and Inferred Resource of 32Mt @ 0.06% Mo; significant geotechnical input was provided into Mine Planning, Resource Estimation and Environmental Studies.

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