derek fisher: opportunities in western australia (day 2 - session 5: global hotspots)

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GLOBAL MINING INVESTMENT CONFERENCE 2010 STATIONERS’ HALL ● CITY OF LONDON ● TUESDAY-WEDNESDAY, 28-29 SEP 2010 www.ObjectiveCapitalConferences.com Investment Conferences Opportunities Western Australia Derek Fisher – CEO, Moly Mines DAY 2 – SESSION 5: GLOBAL HOTSPOTS (PART 1)

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Day 2- Session 5: Global HotspotsOpportunities in Western AustraliaObjective Capital Global Mining Investment Conference 2010Stationers' Hall, City of London28-29 September 2010Speaker:Derek Fisher - Moly Mines

TRANSCRIPT

Page 1: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

GLOBAL MININGINVESTMENT CONFERENCE 2010

STATIONERS’ HALL ● CITY OF LONDON ● TUESDAY-WEDNESDAY, 28-29 SEP 2010

www.ObjectiveCapitalConferences.com

Investment Conferences

Opportunities Western Australia Derek Fisher – CEO, Moly Mines

DAY 2 – SESSION 5: GLOBAL HOTSPOTS (PART 1)

Page 2: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

Other sponsors & participating organisations:

GLOBAL MININGINVESTMENT CONFERENCE 2010

Lead sponsors:

Media partners:

Page 3: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

3MOLYMINESLIMITED

Global Mining Investment Conference28th - 29th September 2010

An Opportunity -Building Two Mines

Page 4: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

4Disclaimer

This presentation includes “forward-looking statements” as that term within the meaning of securities laws of applicable

jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some

cases beyond Moly Mines’ control. These forward-looking statements include, but are not limited to, all statements other than

statements of historical facts contained in this presentation, including, without limitation, those regarding Moly Mines’ future

expectations. Readers can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,”

“continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “risk,” “should,”

“will” or “would” and other similar expressions. Risks, uncertainties and other factors may cause Moly Mines’ actual results,

performance, production or achievements to differ materially from those expressed or implied by the forward-looking

statements (and from past results, performance or achievements). These factors include the failure to complete and commission

the mine facilities, processing plant and related infrastructure in the time frame and within estimated costs currently planned;

variations in global demand and price for molybdenum and copper; fluctuations in exchange rates between the U.S. dollar and

the Australian dollar; failure to recover the resource and reserve estimates of the Project; the failure of Moly Mines’ suppliers

and service providers to fulfil their obligations under construction, supply and tolling agreements; unforeseen geological,

physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes,

labour shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable

terms; and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking

statements. We assume no obligation to update such information.

Page 5: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

5

500km

Australian Iron Ore Regions

W e s t e r n A u s t r a l i a

N o r t h e r nT e r r i t o r y

Q u e e n s l a n d

N e w S o u t hW a l e s

V i c t o r i a

T a s m a n i a

S o u t h A u s t r a l i a

A u s t r a l i a

Pilbara

Yilgarn

South AustraliaMidwest

Pilbara Premier producing region + 350Mt in 2009 +600Mt in 2015 Numerous stranded deposits

Midwest Emerging production region Planned new port & rail

development (Oakajee) 5Mt in 2009 (Geraldton) ~45Mt in 2015 (Oakajee &

Geraldton)

Yilgarn Exports through Esperance Kwinana port redevelopment 8Mt in 2009 (Esperance) ~30Mt in 2015 (Esperance &

Kwinana)

South Australia Oldest production in Australia Needs port & rail for expansion

S p i n i f e x R i d g e M o

P e r t h

Page 6: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

6

Spinifex R idge Mo

Pilbara Region – Western Australia

50km

Marble Bar

Port Hedland

Newman

Paraburdoo

Pannawonica

RoebourneKarratha

Dampier3 2

1

BHPFMGRio Tinto

Railway Lines Railway Lines

4

5

Balmoral South

Cape Lambert

Balla Balla

Poondano

Ridley

Spinifex Ridge Iron

Abydos (Atlas Iron)

Wodgina

Abydos (Giralia)

Mt Webber

McPhee Creek

Nullagine

Roy Hill

1

2

3

4

5

6

7

8

9

10

11

12

13

Iron Ore ProjectsIron Ore Projects

Marillana

Phils Creek

FerrAus

Mindy Mindy

Hope Downs

Western Turner

Rocklea

Brockman 4

West Pilbara

Western Creek

Blacksmith Iron

Solomon Deposits

Western Hub Deposits

Daltons

14

15

16

17

18

19

20921

22

23

24

25

26

27

Deepwater PortsDeepwater Ports

1

2

3

Port Hedland

Cape Lambert

Dampier

1

3

4

5

6

78

910 11

12

1314

15

16

1718

20

1921

22

23

24

25

26

2

27

Iron Ore MinesIron Ore Mines

BHP Billiton

Fortescue (FMG)

Rio Tinto

Atlas Iron

Citic Pacific

4

5

Anketell Point Port

Cape Preston

FMG (Proposed)Hancock (Proposed)API (Proposed)

Tom Pr ice

Page 7: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

7Pilbara Region – Western Australia

1

2

3

4

5

6

7

8

9

10

11

12

13

Iron Ore ProjectsIron Ore Projects

14

15

16

17

18

19

20921

22

23

24

25

26

27

Balmoral South

Cape Lambert

Balla Balla

Poondano

Ridley

Spinifex Ridge Iron

Abydos (Atlas Iron)

Wodgina

Abydos (Giralia)

Mt Webber

McPhee Creek

Nullagine

Roy Hill

Marillana

Phils Creek

FerrAus

Mindy Mindy

Hope Downs

Western Turner

Rocklea

Brockman 4

West Pilbara

Western Creek

Blacksmith Iron

Solomon Deposits

Western Hub Deposits

Daltons

Name Owner Resource (Mt)

1600

1560

455.9

10

2010

7

22.7

42.7

40

44

52.1

89.1

2420

1630

15.1

191

-

1450

60

89

35

742

52.4

511

2450

-

40

Capacity (Mtpa)

12

15

6 – 10

1 - 2

15

1

3

2 – 3.6

3

3

-

3 - 5

55

15 – 25

1.5

10

-

30

-

10

-

30 - 40

-

-

60 – 160

-

2

Type

M

M

M

H

M

H

H

H

H

H

H

H

H

H

H

H

-

H

H

H

H

H

H

H

H

H

H

Deposit Type, M = Magnetite, H = Hematite

Spinifex R idge Mo

50km

Marble Bar

Port Hedland

Newman

Paraburdoo

Pannawonica

RoebourneKarratha

Dampier3 2

1

4

5

1

3

4

5

6

78

910 11

12

1314

15

16

1718

20

1921

22

23

24

25

26

2

27

Tom Pr ice

Page 8: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

8Port Hedland - Overview

Airport

Port Hedland

South HedlandGre

at

Northern

Highway

4

3

2

1

1

4

5

6

7

89

Proposed OuterHarbour Development

FMG

Sh

ip

Loa

din

g C

onve

yor

Berths \ Wharfs - Existi ng Berths \ Wharfs - Existi ng

Publ ic

Finucane Island

PHPA1

PHPA3 - Dampier Salt

Nelson Point

Anderson Point

Name Operator

2

3

1

2

3

4

5

Berths \ Wharfs - Existi ng Berths \ Wharfs - Existi ng

Publ icUtah Point (Public)

Harriet Point – RGP5

Burgess Point - RGP6

South West Creek

FMG Extensions

Name Operator

106

7

8

9

10

Wharfs Faci l ity Handling AreasWharfs Faci l ity Handling Areas

Publ ic

BHP - Finucane Island

BHP – Nelson Point

FMG

Utah Point

Name Operator

FMG Ra i lway

BH

P R

a ilw

ay

BHP Ra i lway

B H P Ra i lw a y

1

2

3

4

Page 9: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

9Port Hedland – Existing & Future Berths

Berths \ Wharfs - Existi ng Berths \ Wharfs - Existi ng

Port Hedland

BH

P R

ailw

ay

BHP Rai lway

Shipping

Chan

nel

FMG

Sh

ip

Load

ing

Conv

eyor

12

3

4

5

6

7

9

10

8

Publ ic

1

2

3

4

5

Finucane Island

PHPA1

PHPA3 - Dampier Salt

Nelson Point

Anderson Point

Name Operator

Berths - Under Constructi on Berths - Under Constructi on

Publ ic6

7

Utah Point

Harriet Point

Name Operator

Berths - Proposed Berths - Proposed

8

9

Burgess Point

South West Creek

FMG Extensions

Name Operator

10

Page 10: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

10Port Hedland – Port Infrastructure

Nelson Point BHP

Nelson Point BHP

Finucane IslandBHP

Finucane IslandBHP

Anderson Point FMG

Anderson Point FMG

Page 11: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

11Port Hedland – Nelson Point (BHP)

Page 12: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

12Company Overview – Building Two Mines

Spinifex Ridge Iron Ore Project Construction near complete

Iron ore shipments commence Q4 2010

Strong project cashflows

Spinifex Ridge Molybdenum Project US$500M Project Finance Loan Facility

due 30 September 2010 (extension under review) to fund immediate construction

Funding secured through major strategic shareholder

Mt Newman (Fe)

Woodie Woodie(Mn)

Telfer(Au, Cu)

Paraburdoo (Fe)

Tom Price (Fe)

Marble Bar

Nifty (Cu)

Port Hedland

Dampier

Broome

Spinifex Ridge

Yarrie (Fe)

100kms

Karratha

W e s t e r nA u s t r a l i a

1

95Cloudbreak (Fe)

Major Road

Rail

Major Port

Gas Pipeline

Australia 1

Strategic partner cornerstone growth plans Vision to build a major world class

mining group

Hanlong Group US$5 billion investment pool

Page 13: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

13Sichuan Hanlong Group

Privately owned

Resource Interests – Zn, Mo, Cu, Coal, Au

Electricity production, infrastructure development, pharmaceutical production, food and alcoholic beverages, real estate development, environmental technology, tourism development and high tech industries

RMB 9.5 billion revenue 2008 (A$1.5 billion)

12,000 employees

Moly Mines Limited

Hanlong VisionMoly Mines Limited International Mining House

Major world Mo company

Page 14: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

14Corporate Overview

Capital Structure at 30 June 2010

ASX/TSX Ticker MOL

Market Cap A$250M

Ordinary Shares 363.9M

Unlisted Options 79.2M

Cash A$58M

Surplus Assets A$30M

10 Year Shareholder Loan US$60M

Shareholders

Hanlong Group 56.9%

Australian Register 31.9%

Canadian Register 11.2%

Unlisted Options

Hanlong Group 35.5M

TCW 23.8M

Institutions 14.0M

Employees 5.9M

Page 15: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

15Spinifex Ridge Location

Moly Mines Limited

Mt Newman (Fe)

Woodie Woodie(Mn)

Telfer(Au, Cu)

Paraburdoo (Fe)

Tom Price (Fe)

Marble Bar

Nifty (Cu)

Port Hedland

Dampier

Broome

Spinifex Ridge

Yarrie (Fe)

100kms

Karratha

W e s t e r nA u s t r a l i a

1

95Cloudbreak (Fe)

Major Road

Rail

Major Port

Gas Pipeline

Australia

1

Page 16: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

16Tenure

Spinifex Ridge Iron Ore Project

Felsics

Basalt

Granite

Granite

Granite

Ultramafic

Iron Formation

Basalt

Ultramafic

Basalt ML – Mining Leases

GPL – General Purpose Lease

EL – Exploration Licence

Basalt

Basalt

Basalt

Rockchip Sample

1.5kms

56.1% Fe

55.2% Fe

61.4% Fe 61.9% Fe

59.2% Fe

Iron Formation61.6% Fe

55.1% Fe

60.2% Fe

55.8% Fe

64.7% Fe

Iron Ore ResourceIron Ore Resource

5.3 Mt @ 59% Fe5.3 Mt @ 59% Fe

Molybdenum-Copper ResourceMolybdenum-Copper Resource

652Mt @ 0.05% Mo, 0.08% Cu652Mt @ 0.05% Mo, 0.08% Cu

Page 17: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

17Integrated Project Development Schedule

Construction

Operations & “FOOS”

Fe Sales

Hanlong Investment

US$500m Drawdown and Construction

Commissioning

Mo/Cu Sales

Iron Ore Project

Moly Project

2010 2011 2012 2013 2014

Page 18: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

18

Spinifex Ridge Iron Ore Project

Page 19: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

19Spinifex Ridge Site Layout

Waste Dump

ROM Pad,Crushing,Ore Stockpile

Ramp down ridge

Port Hedland (170kms)

Marble Bar(50kms)

NORTH

Spinifex RidgeMolybdenum-CopperDeposit (500m)

430m

Spinifex Ridge Iron Ore Project

DalekDalek

AutonAuton

GallifreyGallifrey

4.3 Mt @ 59.2% Fe4.3 Mt @ 59.2% Fe

Ore ReserveOre Reserve

Page 20: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

20Resource / Reserves & Permitting Status

Resource tonnes Fe(%)

SiO2(%)

Al2O3(%)

P(%)

S (PPM)

LOI(%)

Indicated 5,310,000 58.4 9.3 1.6 0.145 113 4.7

Inferred 2,330,000 57.9 13.4 0.8 0.114 52 2.8

50% Fe cut-off

Mining leases granted

Environmental approvals in place

Mining proposal approved

Initial port access agreement in place

Reserve tonnes Fe(%)

SiO2(%)

Al2O3(%)

P(%)

S (PPM)

LOI(%)

Proven 4,334,000 59.2 8.0 1.8 0.13 122 4.9

Spinifex Ridge Iron Ore Project

Page 21: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

21Construction Near Complete

Haul roads established

Water pipelines laid

Camp procured

Mining contracted

Crushing/screening contracted

Plant commissioning – mid October

Capital cost: <$15M

Spinifex Ridge Iron Ore Project

Page 22: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

22Commencement of Mining

Moly Mines Limited

Page 23: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

23Operations

Mining - BGC Contracted

Mobilize mid September

Mining rate 1MT/A capable of immediate expansion to 1.4MT/A

Crushing – Rapid Crushing Contracted

Mobilize plant October

Haulage – near term award First haulage mid November

Port – Utah Point, Port Hedland

Handover 6 November 2010Spinifex Ridge Iron Ore Project

0

10

20

30

40

50

60

70

2010 2011 2012 2013 2014 2015

Operating Cost Mine Gate US$/T - FOB

Life of mine operating cost FOB: US$47/T

First ore shipment – December 2010

Page 24: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

24Sales

Offtake Hanlong

Steel mills

Forecast Fe prices strong CRU group forecast current spot

prices to remain firm through 2013/2014

Spot FOB price(1): US$129/T

Strong project cashflows support moly project development

(1) Platts IODEX 62% Fe CFR North China 3 September 2010, adjusted for capesize freight

Spinifex Ridge Iron Ore Project

Moly Mines stockpile area at Utah Point, Port Hedland

On track for handover 6 November 2010

Page 25: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

25

China Information

Spinifex Ridge Molybdenum ProjectTransportation of mill sections, Perth

Page 26: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

26

Molybdenum – a metal for our time

Supply No new supply sources – existing by-product

producers at full capacity

The world needs new primary molybdenum mines

Large new mines need high molybdenum prices and strategic partners to be funded

Prices Found a floor at US$15.00/lb

Limited western world demand through GFC

China currently the dominant player and net importer

Limited global stocks

End 2008 and early 2009 price levels prove unsustainable as higher cost marginal produces in China withdraw from market

Demand Global consumption 2009: 437M lb

Consumption grew at 8.2% 2002-2008 before contracting in 2009

Stainless steel

Energy applications

Page 27: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

27

Conventional open pit

Pit design has been optimised to maximise grades early and to fit processing requirements

Favourable mining characteristics:

Deposit is porphyry with continuous mineralization

Minimal grade control or dilution issue – low grade halo de-risks mining

Minimal requirement for selective mining

Mining fleet based on conventional open-pit mining equipment:

Specified equipment or alternatives can be readily mobilised by contractors

Conventional comminution and flotation processing

Dry stack tailings – operational/environmental advantages

Low-Risk / Low Cost Open Pit Mining

HighlightsHighlights

Waste 3

Waste 2

Waste 1

Pit

ROM

Plant &Administration

Dry Stack Tailings

Mo Camp / Village

Pit Office/Workshops

Port Hedland (170kms)

NorthNorth

Tunnel

Airstrip

Creek DiversionChannel

High GradeStockpile

High GradeStockpile

Low GradeStockpile

Low GradeStockpile

Australia

Mo \ Cu Pit

Spinifex Ridge Molybdenum Project

Fe Pits

Page 28: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

28Reserves and Mineral Resources

Spinifex Ridge Molybdenum Project

Reserves

JORC / NI43-101 classification Mt Mo% Cu% Ag g/t MoEq%1

Proven reserves 199.7 0.06 0.10 1.5 0.09

Probable reserves 251.1 0.04 0.07 1.1 0.06

TOTAL 450.8 0.05 0.08 1.3 0.07

Resources

JORC / NI43-101 classification Mt Mo% Cu% Ag g/t MoEq%

Measured resources 206.8 0.06 0.10 1.5 0.09

Indicated resources 445.4 0.04 0.07 1.1 0.06

TOTAL 652.2 0.04 0.08 1.2 0.07

Inferred resources 399.0 0.04 0.07 1.1 0.06 Note—Reserves are a sub-set of Resources0.02% Mo cut-off assumed for resources0.03% Mo cut-off assumed for reserves

Relative CompetitivenessRelative Competitiveness

Top 5 primary molybdenum resource globally by contained metal

Mo Equiv. reserve grade is comparable to other western world primary molybdenum projects

Complemented by Iron Ore Fully permitted ready to

build

1 – Mo equivalent calculated on contained metal @ 4QCY09 average metal prices

First 10 yrs0.10%45 yr mine life

Capacity for life extension &

expansion

Page 29: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

29Phase 1 – Startup Project

10 Mtpa

Initial head-grade – 0.07% Mo, 0.11% Cu (1st 10 years)

12-13 Million lbs Mo per year

Utilizes large scale equipment purchased for 20 Mtpa plant

20 month construction period from full project funding

Capital cost - A$528M – A$558M (plus A$70M for power

station if not financed by 3rd party)

Operating cost US$7.20/lb (1) (first 10 years – mine gate)

10 Mtpa Resource Pit Shell

20Mtpa ResourcePit Shell

0.04% Mo Shell 0.09% Mo Shell- High Grade Core

0.02% Mo Shell

Source: NI43-101 Technical Report dated 25 August 2009

(1) – At commercial production.

Page 30: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

30Long Lead Equipment Orders Completed

Spinifex Ridge Molybdenum Project

Page 31: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

31Economics – High and Low Case Scenarios

10 Mtpa Case

Price Scenario EBITDA (A$M) Pre-tax NPV (A$M) Pre-tax IRR (nominal converted)

US$30/lb 455 1,599 30.8

US$23.6/lb (3 Year Average) 319 847 23.2

US$20/lb 243 434 18.5

Expansion Case (to 20 Mtpa)

Price Scenario EBITDA (A$M) Pre-tax NPV (A$M) Pre-tax IRR (nominal converted)

US$30/lb 720 2,466 34.1

US$23.6/lb (3 Year Average) 485 1,332 25.8

US$20/lb 354 709 20.4

Financial analysis based on 20 Mtpa DFS and 10 Mtpa Scoping Study Moly Mines believes long term molybdenum prices required to be > US$20/lb to support new

primary mine development and meet projected supply shortfall

Source: NI43-101 Technical Report dated 25 August 2009 adjusted for forward curves

Page 32: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

32

Mo and Fe Forecast Project Cashflows…..this decade

(50)

0

50

100

150

200

250

300

350

400

450

0

5

10

15

20

25Operating Cash Flow (A$M)Production (Mlb's/T's)

Mo Production (Ib)Fe Production (Tonnes)Annual Operating Cash Flow (A$)

Fe production starts Mo production starts

Mo production continues for 20+ years

Mo cashflow continues

Page 33: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

33Experienced Team

Board of DirectorsBoard of Directors

Over 40 years of worldwide experience in the resource industry, more than 20 years experience as a manager of publicly listed resource companies, in addition to serving as a director of mining companies that developed mines in Australia, Mongolia, Armenia and the DRC.

Over the past 10 years Mr. Liu has built the Sichuan Hanlong Group into a modern and international company . He is well known fort his philanthropic work and has been awarded national recognition. Mr. Liu was named one of the 10 most influential people on the economy of Sichuan in the past 30 years.

Mr. David Craig - ChairmanMr. David Craig - Chairman

An experienced businessman and lawyer, who has held and holds Executive and Board positions in the fields of law, financial services and the resources industry. Appointed as Chairman in 2009

Dr. Derek Fisher – CEO/Managing DirectorDr. Derek Fisher – CEO/Managing Director

Mr. Liu Han – Non-Executive DirectorMr. Liu Han – Non-Executive Director

Over 25 years investment banking experience having held senior executive roles with Merrill Lynch and UBS in New York and London.

Mr. Michael Senft - Independent Non-Executive DirectorMr. Michael Senft - Independent Non-Executive Director

Mr. Liu has appointed Mr. Chen as his alternate director. Mr Chen holds postgraduate degrees in finance and accounting and is fully bilingual. He brings with him extensive cross cultural professional experience.

Mr. Nelson Chen – Alternate Non-Executive DirectorMr. Nelson Chen – Alternate Non-Executive DirectorA experienced executive with responsibility for a broad portfolio of companies including mining, infrastructure, LPG, pharmaceuticals and property development.

Mr. Sun Xiaodong – Non-Executive DirectorMr. Sun Xiaodong – Non-Executive DirectorHolds a Bachelor of Business Administration with Honors from the University of Texas at Austin. Mr. Zhmurovsky is the Senior Vice President within the Energy and Infrastructure Group at TCW.

Mr. Andy Zhmurovsky – Non-Executive DirectorMr. Andy Zhmurovsky – Non-Executive Director

Over 15 years experience in finance and investment working for globally recognised investment banks and financial organisations.

Skilled in capital utilisation and industry integration with extensive global M&A experience.

Mr. Steven Xiao – Executive DirectorMr. Steven Xiao – Executive Director

A mechanical engineer with 40 years experience in the mining and construction industries in Southern Africa, Australia, New Zealand, Canada and Indonesia.

Mr. David Nixon – Independent Non-Executive DirectorMr. David Nixon – Independent Non-Executive Director

Moly Mines Limited

Page 34: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

34

Key ManagersKey Managers

Mr. Collis Thorp – Chief Operating OfficerMr. Collis Thorp – Chief Operating Officer

40 years mining experience, having operated and managed open-pit and underground mines in Australia and internationally. Experience covers precious, base and specialty metal operations, including gold, tin, tungsten, titanium and zircon.

Andrew is a qualified accountant with a Bachelor of Commerce (Accounting and Finance) from the University of Western Australia. Over 16 years corporate, finance and company secretarial experience in the resources industry commencing with Arthur Andersen Chartered Accountants and spending the last 12 years in senior management positions within mining houses.

Mr. Andrew Worland – Company Secretary , General Manager Commercial & Marketing

Mr. Andrew Worland – Company Secretary , General Manager Commercial & Marketing

John is a Chartered Accountant and holds a Bachelor of Science Honours in Mathematics with Applications from Southampton University. John has held mine accountant, commercial manager roles and financial controller roles since 1989 and has held CFO or Company Secretary roles for Australian and AIM listed companies since 2004. Previously held positions with Barrick Gold, Wiluna Mines & Cable Sands.

Mr. John McEvoy – Chief Financial OfficerMr. John McEvoy – Chief Financial Officer

Mike holds a Bachelor of Science, Mining Engineering, University of Newcastle Upon Tyne, England, a WA Unrestricted Quarry Managers Certificate and a Northern Territory Mine Managers Certificate. Over 30 years of mine management and operations experience in iron ore, manganese and gold for companies including Hamersley Iron (now Rio Tinto) and Dominion Mining. Over 10 years in executive management positions with major mining contractors such as Henry Walker, Boral and Brambles.

Mr. Mike Gloyne – General Manager OperationsMr. Mike Gloyne – General Manager Operations

Experienced Team – Management

Mr. David Pass –Manager MetallurgyMr. David Pass –Manager Metallurgy

Mrs. Barbara Kwiecien –Manager Land AdministrationMrs. Barbara Kwiecien –Manager Land Administration

Mr. Graeme Kininmonth –Manager Health & Safety and Environment

Mr. Graeme Kininmonth –Manager Health & Safety and Environment

David holds a Bachelor of Science and a double major: Extractive Metallurgy and Chemistry from Murdoch University, Western Australia and has over 25 years hard rock mining experience. Prior to joining Moly Mines David spent 12 years with Placer Dome’s (now Newmont Mining) Granny Smith operation holding senior metallurgist, plant operator and processing manager positions. David has also held senior metallurgical roles at Plutonic Gold Mine and with BP Mineral Australia.

Graeme holds a Bachelor of Science from Australian National University and has over 30 years experience including management of project approvals processes in senior environmental and site management positions for Straits Resource ,Sons of Gwalia and Cable Sands.

28 years of international experience within land and tenure administration and land access negotiations. An accredited mediator, she has facilitated her work internationally, specifically with indigenous people.

Ms. Xu ChuanmeiMs. Xu Chuanmei

MA Degree from China University of Geosciences. Ms Xu has extensive experience working with Chinese and international resource sectors, and is highly skillful in intercultural communications and negotiations. She also specialises in international trade and marketing.

Moly Mines Limited

Page 35: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

35Competence and Responsibility

Iron OreThe information in this presentation that relates to drill data and geological interpretation is based on information compiled by Mr Ben Cairns who is a Member of the Australian Institute of Geoscientists. The information in this presentation that relates to Mineral Resources is based on information compiled by Mr Clay Gordon who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Cairns is a full-time employee of the company and Mr Gordon is employed by Mining Assets Pty Ltd.

Both Mr Cairns and Mr Gordon have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Both Mr Cairns and Mr Gordan are Qualified Persons within the meaning of such term under National Instrument NI43-101 . Mr Cairns and Mr Gordon consent to the inclusion in this presentation of the matters based on their information in the form and context in which it appears.

The information contained in this presentation that relates to Mineral Reserves is based on information compiled and verified under the supervision of Mr Roger Pooley who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Pooley is a Senior Mining Consultant with SRK Consulting (Australasia) Pty Ltd, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for purposes of National Instrument 43-101 and as a Competent Person as defined in the 2004 edition of The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves under JORC.

Mr Pooley consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears in this document.

Molybdenum CopperThe information in this release that relates to drill data and geological interpretation is based on information compiled by Dr Derek Fisher, Mr Ben Cairns who are Members of the Australasian Institute of Mining and Metallurgy. The information in this release that relates to Mineral Resources is based on information compiled by Mr Clay Gordon who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Dr Fisher is employed by Trillium Investments Pty Ltd which is contracted to provide management services to Moly Mines, Mr Cairns is a full-time employee of Moly Mines and Mr Gordon is employed by Mining Assets Pty Ltd.

Each of Dr Fisher, Mr Cairns and Mr Gordon have sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. They consent to the inclusion in this release of the matters based on their information in the form and context in which it appears.

Moly Mines Limited

Page 36: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

36

50 Kings Park Rd, West Perth, WA, 6005, AUSTRALIA

Telephone: +61 8 9429 3300 Fax: +61 8 9429 3399

Telephone: +1 416 371 7541

Email: [email protected]

Website:

http://www.molymines.com

Stock market codes: ASX:

MOL, TSX: MOL, FWB: HJ1

Moly Mines Contact Details

Page 37: Derek Fisher: Opportunities in Western Australia (Day 2 - Session 5: Global Hotspots)

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