Platinum Australia - ASX · JV with Atla Mining Resources – PLA 30%, earning 70% UG2, Merensky...

PLA www.platinumaus.com 1 PLA www.platinumaus.com

Platinum Australia

ACN 093 417 942

ASX Mid to Small Cap Conference March 2012

PLA www.platinumaus.com 2

Platinum Australia

Listed on ASX 500 Million shares Market Capitalisation - $40 million

9.0%

5.0%

4.5%

4.0%

3.5%

Northcape

Acorn

Matthews

Directors

Vanderspuy

Merrill Lynch

Deutsche

Insinger

Macquarie

Other


Platinum Australia Smokey Hills (70% PLA, ~85% Economic Interest)

Established mine with production capacity of 90,000 ozs per annum at a Cash Margin of US$400/oz with a five year life

Kalplats (PLA earning up to 49%) DFS completed - Total Resource 6.7 Mozs, open pit production of 120,000 ozs pa at a Cash Margin of US$500/oz with an initial 10 year life Resources drilled to only ~200 metres. Significant potential to expand resource along strike, at depth and due to large regional presence (~70 km strike length)

Rooderand (PLA earning 70%) PFS completed - Total Resource 4.2 Moz, open pit production of 115,000 ozs pa at a Cash Margin of US$500/oz with 10 year life followed by ~7 year underground

Panton (PLA 100%) Total Resource 2.4 Moz, proposed open pit & underground operation with production of 90,000 ozs pa


Platinum Australia Total Resources of 14 Mozs 4E PGM (PLA attributable 9.7 Mozs) Production Capacity

Current – 90,000 ozs 4E pa Potential – +300,000 ozs 4E pa within three years (Smokey Hills, Rooderand and Kalplats (PLA attributable ~220,00 ozs 4E) Cash Margin - +US$400/oz 4E (current prices)

Panton PGM Project Large strategic asset containing 2.4 Mozs PGM

Established Management Team in place in South Africa


Supply Primary supply at same level as 2001 South Africa – Strong Rand, Power, Inflation,

Depth, Grade, Skills shortages, Labour unrest Nationalisation – Implementation in

Zimbabwe, South Africa? New Mines – Capital, Lead Time, Country

Risk, Power Depletion of Russian stockpile of palladium

(+1 Moz/year over last 10-15 years)

Market – Key Issues


Demand Global Economic Recovery Autocatalysts – production, diesel/petrol,

legislation Jewellery China – 25% of Platinum, 20% of Palladium,

30% growth in last 5 years 2010 Demand still 10% below peak

Market – Key Issues


Market – Prices


Basket Prices

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Exciting Portfolio of Advanced PGM Projects in South Africa and Australia

Smokey Hills – Shallow underground mine building up to full production in 2012 Kalplats – DFS completed on development of 1.5 Mtpa Open Pit Operation Rooderand – PFS completed on development of 1.2 Mtpa Open Pit and Underground Operation Panton – Review Study underway for 600,000 tpa Open Pit and Underground Operation

Platinum Australia


Platinum Australia Executive Committee

John Lewins Managing Director (Perth)

David Neill Chief Financial Officer (Perth)

Gavin Ferguson Chief Operating Officer (Johannesburg)

Gordon Ramsay GM – Projects & Metallurgy (Johannesburg)

Steve Hunns GM – Exploration (Johannesburg)

John Dawson GM - Finance (Johannesburg)

McMillan Motimele Manager – Stakeholder Relations (Johannesburg)

Richard Wallis GM – Mining & Technical Services (Johannesburg)

William Smart GM – Smokey Hills Mine (Smokey Hills)


Platinum Australia


Smokey Hills Platinum Mine

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Updated Resource Resource Tonnes Grade Content

Million Tonnes 4E g/t ‘000’s 4E Ozs

Snowden – DFS July 2006 Measured 3.6 5.59 650

Indicated 1.9 5.61 344

Total 5.5 5.60 994

Geologix – July 2011 Measured 2.85 5.61 516

Indicated 1.68 5.64 306

Total 4.53 5.63 822


Smokey Hills Platinum Mine Processing

Standard MF2 design for treating UG2 Reef Planned throughput 60,000 tpm Planned production 90,000 ozs 4E per annum in concentrate Shipped to IRS in Rustenburg, South Africa for smelting & refining

Power Eskom power connected (8 MVA with up to 12.5 MVA for future) 8 MVA Diesel Generating Capacity Installed

Water Lebalelo Water Scheme – 60,000 m3 per month 20 km pipeline


Smokey Hills Platinum Mine Underground Mine

Moved from contract mining to Owner Operator in January 2012 Ramp up in underground production scheduled to achieve design in June Quarter 2012 Access via six adits developed on reef - mechanised using jumbos, LHD’s and trucks Conventional narrow reef mining, hand held production drilling, winch cleaning, tramming to surface by LHD and truck Average Design Head Grade over life of mine ~4.8 g/t 4E PGM


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Owner Operator Underground Mine Performance in 2012



Planned Production 5.5 years at average of ~90,000 ozs 4E per annum (2012 Planned 70,000 ozs 4E) Estimated Average LOM Cash Costs US$850/oz 4E Average Basket Price in 2011* US$1,300/oz 4E Margin US$450/oz

* Platinum US$1730/oz; Palladium US$730/oz; Rhodium US$2,000/oz; Gold US$1,570/oz;



Local Community Mine Ownership – 9% Employment – +1,000 at full production Social and Labour Plan (SLP) commitments of ZAR14 million including:

Sealing of ~2.5 km of local district road (underway) Construction of classrooms for local schools (scheduled for 2011/12) Construction of new soccer pitch and stands (scheduled for 2011/12) Water infrastructure (awaiting completion of work by Government) Training & Development, scholarships and bursaries (ongoing)


JV with ARMplatinum – PLA earning up to 49% 330 km West of Johannesburg Stella Layered Intrusive (“SLI”) within the Kraaipan Greenstone Belt Multiple PGM bearing “magnetite” reefs Large Regional Presence

Kalahari Platinum Project


Kalahari Platinum Project

DFS Results Base Case November 2011

ZAR US$ ZAR US$

Capital Cost Million 1,145 150 1,145 140

Throughput t/annum 1,500,000 1,500,000

Grade g/t 3E 2.96 (Ave 3.3 first five years) 2.96 (Ave 3.3 first five years)

Site Opex Per ton 214 28.2 214 26

Per oz 3,155 415 3,155 385

Basket Price Per oz 7,606 1,001 9,430 1,150

NPV10 Million 530 70 1,347 164

Cash Flow Million 1,598 210 3,205 391

IRR % 24.4 24.4 41 41

Definitive Feasibility Study

Base Case – Platinum US$1500/oz; Palladium US$500/oz; Gold US$1100/oz; ZAR7.6:US$1

November 2011 – Platinum US$1610/oz; Palladium US$635/oz; Gold US$1725/oz; ZAR8.2:US$1


Kalahari Platinum Project Capital cost ~ZAR1.1 Billion (~US$1,200/annual oz 3E production) Production ~120,000 ozs 3E per annum (first five years) Site operating costs ~US$400/oz 3E Total cost including smelting and refining - ~US$600/oz 3E (at Base Case Metal Prices and Exchange Rate) Initial 10 year life based on current Measured and Indicated Resources (~50% of current resource) Potential for major extension of life with further drilling Power available from Eskom from 2014 Mining of bulk sample from existing trial pit and pilot plant testwork planned for 2012


Rooderand Platinum Project JV with Atla Mining Resources – PLA 30%, earning 70% UG2, Merensky and Pseudo/Tarentaal Reefs Pre Feasibility Study completed April 2011 Definitive Feasibility Study drilling program completed July 2011 Updated Resource due March 2012 DFS due for completion First half 2012 Over 350 diamond drill holes completed since November 2009


Rooderand Platinum Project

PFS Results Base Case November 2011

ZAR US$ ZAR US$

Capital Cost Million 968 129 968 118

Throughput t/annum 1,200,000 1,200,000

Grade g/t 4E 3.46 (Open Pit) 4.39 (u/ground) 3.46 (Open Pit) 4.39 (u/ground)

Site Opex Per ton 605 80 605 74

Per oz 5,025 670 5,025 613

Basket Price Per oz 11,812 1,575 11,013 1,343

NPV10 Million 1,616 215 1,598 195

Cash Flow Million 4,485 598 4,362 532

IRR % 40 40 41 41

Pre Feasibility Study

Base Case – Platinum US$1,800/oz; Palladium US$800/oz; Rhodium US$2,400; Gold US$1,330/oz; ZAR7.5:US$1

November 2011 – Platinum US$1,610/oz; Palladium US$635/oz; Rhodium US$1,660/oz; Gold US$1,725/oz; ZAR8.2:US$1


Pre Feasibility Study Resource 28.8 Mt @ 4.55 g/t for 4.2 Moz 4E PGM Outcrop to depth of ~500 m Open Pit 9.6 Mt @ 3.49 g/t to Max depth ~180 metres Underground focus on UG2 - 7.3 Mt @ 4.39 g/t 4E over ~1.2 m stope width Simple MF1/MF2 Flowsheet Eskom power available immediately

Rooderand Platinum Project


Located in the Kimberley region of Western Australia Resource of 14.3 Mt @ 5.2 g/t PGM, 0.27% Ni & 0.08% Cu Open Pit followed by Underground Mining Use of “Panton Process” to achieve 75 – 80% recovery into high grade concentrate ~2,000 g/t PGM & 50% Ni + Cu Potential production up to 90,000 ozs PGM per annum based on throughput of 600,000 tpa Ownership – 100% Platinum Australia

Panton PGM Project


Metal Prices have increased between 250% and 500% since completion of BFS Technical and Commercial Project review due for completion December 2011 Mining update TetraTech, Plant update DRA Pacific Initial indications – Open Pit increased in size by up to 50% to 1.9 million tonnes ore providing 3 year life ahead of u/ground mine Strategic Review of development options

Panton PGM Project


Platinum Australia Project Status Resource Target

Production Comments

Smokey Hills

Product 0.8 Moz 4E PGM 5.6 g/t

90,000 oz/a

In build up U/ground to ~200m

PLA 70% (85% economic)

Kalahari Platinum

DFS 6.7 Moz 3E PGM High Grade 3.2 Moz @ 3.1 g/t

~120,000 oz/a Open Pit to ~200m then u/ground to ?

PLA 49% (earning)

Rooderand Platinum

PFS 4.2 Moz 4E PGM 4.55 g/t

~115,000 oz/a Open Pit to ~150m then u/ground to ~500m PLA 70% (earning)

Panton Project

Review of DFS

2.4 Moz PGM 5.2 g/t

~90,000 oz/a Open pit to 120m then u/ground to ~600m

PLA 100%

Total 14.1 Moz PLA ~9.7 Moz

~415,000 oz/a PLA ~310,000 oz/a

Open Pit or Shallow Underground


Platinum Australia

Project Resource Target Production

Est. Opex LOM US$/oz 4E

Initial Capex US$/annual oz 4E

Smokey Hills 0.8 Moz 4E PGM 5 g/t

90,000 oz/a

US$850 US$500

Kalahari 6.7 Moz 3E PGM incl 3.2 Moz @ 3.1 g/t

~120,000 oz/a ~US$600 ~US$1,200

Rooderand 4.2 Moz 4E PGM 4.55 g/t

~115,000 oz/a ~US$650 ~US$1,000

Panton 2.4 Moz PGM 5.2 g/t

~90,000 oz/a ~US$1,000 ~US$1,800

Total 14.1Moz

Total ~415,000 oz/a

Industry ~US$1,300

Industry +US$3,000

Projects


Platinum Australia Smokey Hills Platinum Mine

Expected move to positive cash flow in June Qrt 2012 LOM Expected Annual Production – 90,000 ozs 4E (Planned production for 2012 – 70,000 ozs 4E) LOM Cash Cost US$850/oz, Basket (ave 2011)US$1,300/oz, Margin US$450/oz

Kalahari Platinum Project Commence development in late 2013, with first production early 2015 Capital cost ~ZAR1.1 Billion Annual Production 120,000 ozs @ US$600/oz 3E (est. Cash Cost)

Rooderand Platinum Project Commence development in late 2012, with first production early 2014 Capital cost ~ZAR1 Billion Annual Production 115,000 ozs @ US$650-700/oz 4E (est. Cash Costs)

Panton Project Project Review to be completed in first Quarter 2012 Strategic Review first Quarter 2012


Deposit Total Resource Main Reef Resource High Grade Resource Tonnes Grade Ozs Tonnes Grade Ozs Tonnes Grade Ozs

Crater

Measured 1,337,500 1.89 81,130 695,000 2.52 56,270 459,000 3.50 51,520 Indicated 6,215,500 1.85 370,500 2,414,000 2.37 184,230 2,640,000 2.99 254,000 Inferred 18,663,000 2.11 1,267,900 8,434,000 2.68 726,240 8,540,000 3.26 896,070 Total 26,216,000 2.04 1,719,530 11,543,000 2.60 966,740 11,639,000 3.21 1,201,590

Crux

Measured 7,698,000 1.55 383,370 3,360,000 2.04 220,320 1,716,000 2.96 163,430 Indicated 10,882,000 1.40 489,880 5,239,000 1.62 272,580 1,905,000 2.55 156,030 Inferred 9,458,000 1.35 410,190 4,348,000 1.53 213,860 1,470,000 2.47 116,720 Total 28,038,000 1.42 1,283,440 12,947,000 1.70 706,760 5,091,000 2.66 436,180

Orion

Measured 4,201,000 1.57 211,720 1,983,000 2.15 136,960 995,000 3.29 105,400 Indicated 4,011,000 1.56 202,450 1,841,000 2.15 127,010 856,000 3.42 94,130 Inferred 3,644,000 1.61 189,040 1,773,000 2.14 121,740 869,000 3.28 91,600 Total 11,856,000 1.58 603,210 5,597,000 2.14 385,710 2,720,000 3.33 291,130

Vela Indicated 21,790,000 1.36 949,910 8,474,000 2.09 570,770 4,579,000 3.11 458,090 Inferred 14,872,000 1.32 629,770 6,329,000 2.07 420,800 3,591,000 3.02 348,350 Total 36,662,000 1.34 1,579,680 14,803,000 2.09 991,570 8,170,000 3.07 806,440

Sirius Measured 802,000 1.52 39,070 378,000 2.13 25,810 185,000 3.32 19,740 Indicated 5,305,000 1.49 254,540 2,086,000 2.13 142,960 1,116,000 3.12 111,770 Inferred 3,377,000 1.27 137,880 639,000 2.03 41,620 270,000 3.40 29,510 Total 9,484,000 1.42 431,490 3,103,000 2.11 210,390 1,571,000 3.19 161,020

Mira Indicated 2,708,000 1.42 123,720 931,000 2.31 69,020 461,000 3.55 52,510 Inferred 3,925,000 1.44 181,090 1,315,000 2.49 105,310 731,000 3.60 84,750 Total 6,633,000 1.43 304,810 2,246,000 2.41 174,330 1,192,000 3.58 137,260

Serpens North Indicated 4,962,000 1.41 224,620 2,057,000 1.95 129,180 861,000 3.15 87,180 Inferred 2,741,000 1.47 129,330 1,142,000 1.90 69,630 408,000 3.31 43,460 Total 7,703,000 1.43 353,950 3,199,000 1.93 198,810 1,269,000 3.20 130,640

Serpens South Inferred 10,762,000 1.34 462,020 5,890,000 1.71 324,230 848,000 5.10 138,980 Total 137,354,000 1.53 6,738,130 59,328,000 2.08 3,958,540 32,500,000 3.16 3,303,240

Kalahari Platinum Project Resource


Rooderand Platinum Project Resource Mineral Resource

Category

Reef Type Tonnes (million)

Grade 4E g/t

4E Kg's ('000)

4E Moz

Pt (g/t)

Pd (g/t)

Rh (g/t)

Au (g/t)

Cu (ppm)

Ni (ppm)

Meas + Ind + Inf Merensky 2.81 10.93 30.75 0.99 7.32 2.65 0.58 0.37 1418 2844

Meas + Ind + Inf Upper Pseudo 3.85 3.11 11.97 0.38 2.31 0.43 0.22 0.15 548 1427

Meas + Ind + Inf Lower Pseudo 8.64 1.87 16.19 0.52 1.10 0.58 0.08 0.10 229 1443

Meas + Ind + Inf UG2 13.52 5.35 72.34 2.33 3.13 1.54 0.65 0.02 18 1217

Measured TOTAL 2.62 4.89 12.84 0.41 2.93 1.35 0.55 0.05 108 1320

Indicated TOTAL 6.76 5.30 35.81 1.15 3.18 1.50 0.54 0.07 189 1415

Meas + Indicated TOTAL 9.38 5.19 48.65 1.56 3.11 1.46 0.54 0.07 167 1388

Inferred TOTAL 19.45 4.25 82.60 2.66 2.68 1.10 0.36 0.11 348 1511

TOTAL TOTAL 28.83 4.55 131.25 4.22 2.82 1.21 0.42 0.10 289 1471


Panton PGM Project Resource Reef Type

Mineral Resource Category

Tonnes (million)

Grade *6E g/t

*6E Moz

Pt (g/t)

Pd (g/t)

Au (g/t)

Cu (ppm)

Ni (ppm)

Top Reef Measured 4.40 6.01 0.85 2.46 2.83 0.42 0.28 0.08

Indicated 4.13 6.65 0.88 2.73 3.21 0.38 0.31 0.09

Inferred 1.56 5.11 0.26 2.10 2.35 0.38 0.36 0.13

Top Reef TOTAL 10.08 6.13 2.0 2.51 2.91 0.40 0.30 0.09

Middle Reef Measured 2.13 2.86 0.19 1.36 1.09 0.10 0.18 0.03

Indicated 1.5 3.28 0.16 1.56 1.28 0.10 0.19 0.04

Inferred 0.6 2.38 0.05 1.22 1.07 0.01 0.19 0.05

Middle Reef TOTAL 4.22 2.99 0.4 1.41 1.15 0.10 0.18 0.03

TOTAL TOTAL 14.32 5.20 2.4 2.19 2.39 0.31 0.27 0.08

*6E – Platinum, Palladium, Rhodium, Ruthenium, Iridium & Gold


Platinum Australia “This presentation and information contained in it is being provided to shareholders and investors for information purposes only. Shareholders and investors should undertake their own evaluation of this information and otherwise contact their professional advisers in the event they wish to buy or sell shares. To the extent the information contains any projections the Company has provided these projections based upon the information that has been provided to the Company. The Company does not make any representations as to the accuracy or otherwise of that third party information."

Qualification Statement

We confirm that exploration results contained in this report are based on information compiled by PLA Exploration Staff and reviewed by Peter Allchurch, who is a Fellow of the Australian Institute of Mining and Metallurgy. Peter Allchurch is non-executive Chairman of Platinum Australia Limited. Peter Allchurch has more than 5 years 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’. Peter Allchurch consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to the Crater ,Vela, Orion, Sirius, Mira, Serpens North and Crux Mineral Resource is based on a resources estimates compiled by Mr. Ken Lomberg who was a full-time employee of Coffey Mining and is a Member of the South African Council for Natural Scientific Professions. Mr. Lomberg has more than 15 years experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking and qualifies as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Lomberg consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to the Rooderand Mineral Resource is based on a resources estimate compiled by Mr. Andre Deiss who is a Principal of ExplorMine Consultants and is a Member of the South African Council for Natural Scientific Professions (member no 400007/97). Mr. Deiss has more than 7 years experience which is relevant to the style of mineralisation and type of deposit under consideration and 15 years experience in the activity which he is undertaking and qualifies as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Deiss consents to the inclusion in the report of the matters based on his information in the form and context in which they appears. The information in this report that relates to the Smokey Hills Mineral Resource is based on a resources estimate compiled by Mr. John Murgatroyd who is a Director of Deswik Mining Consultants (Pty) Ltd and is a Member or Fellow of “Recognised Overseas Professional Organisation”. Mr. Murgatroyd has more than 5 years experience which is relevant to the style of mineralisation and type of deposit under consideration and in the activity which he is undertaking and qualifies as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Murgatroyd consents to the inclusion in the report of the matters based on his information in the form and context in which they appears. The information in this report that relates to the Panton Mineral Resource is based on a resources estimate compiled by Mr. Ted Copeland who is a Director of Cube Consulting Pty Ltd. and is a Member of the Australian Institute of Mining and Metallurgy. Mr. Copeland has more than 10 years experience which is relevant to the style of mineralisation and type of deposit under consideration and in the activity which he is undertaking and qualifies as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Copeland consents to the inclusion in the report of the matters based on his information in the form and context in which they appears.

Platinum Australia - ASX · JV with Atla Mining Resources – PLA 30%, earning 70% UG2, Merensky...

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