iberian sept 2009 presentation
TRANSCRIPT
September 28, 2009
2
Table of Contents
Forward Looking Statements
Iberian
Key Messages
Key Goals
Corporate Summary
P/NAV
Capital Structure
Condestable Mine
Location
Key Facts
Condestable Mine
Plan View of Infrastructure
Reserves & Resources
3
4
5
6
7
8
9
10
11
12
13
Production
Exploration
Aguas Tenidas Mine
Location
Key Facts
Aguas Tenidas Mine
Process Plant Aerial View
Reserves & Resources
Mineralization
Life of Mine Details
2010 Unit Operating Cost
Breakdown
MATSA Mining Rights
14
15-17
18
19
20
21
22-24
25
26-28
29
30
Iberian
Finances
Capex
Hedging
Trafigura
Future Plans
Board of Directors
Management
Photo Galleries
Appendix
Condestable - Tailings
Condestable - Raul model view
Aguas Tenidas - Sections
Aguas Tenidas - Mine Overview
& Design
32
32
33-34
35
36
37
38
39-41
3
Forward Looking Statements
This presentation contains certain “forward-looking statements” and “forward-looking information” under applicable securities laws.
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward-looking
statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, and
other similar words, or statements that certain events or conditions “may” or “will” occur. Forward looking information may include,
but is not limited to, statements with respect to the future financial or operating performances of the Corporation, its subsidiaries and
their respective projects, the timing and amount of estimated future production, estimated costs of future production, capital,
operating and exploration expenditures, the future price of copper, gold and zinc, the estimation of mineral reserves and resources, the
realization of mineral reserve estimates, the costs and timing of future exploration, requirements for additional capital, government
regulation of exploration, development and mining operations, environmental risks, reclamation and rehabilitation expenses, title
disputes or claims, and limitations of insurance coverage. Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking
statements. Many of these assumptions are based on factors and events that are not within the control of the Corporation and there is
no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such
forward-looking statements include changes in market conditions and other risk factors discussed or referred to in the section entitled
“Risk Factors” in the Corporation’s annual information form dated April 30, 2009. Although the Corporation has attempted to identify
important factors that could cause actual actions, events or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances
or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to
place undue reliance on forward-looking statements.
Unless otherwise stated, the information contained in this presentation is as of September 25, 2009.
4
Iberian– Key Messages
• Base metals producer – copper, lead, and zinc concentrates with gold
and silver credits
• Small peer group for investors
• Two mines in stable countries of operation (Peru and Spain)
• Project debt at Aguas Tenidas paid off
• Upside in both mines, and in exploration
• Goal for future growth, with plans to be multi-mine
• Unique story for investors
“Growing Iberian Minerals as a
major iconic name in the base
metals industry”
Iberian - Key Goals
5
Continue to…
• Maintain Condestable in steady state of production, with local and
regional exploration
• Aguas Tenidas commercial production in Q4, and 30% planned
production increase in 2010/2011
• Complete polymetallic modification by end of 2009
• Corporate and asset opportunities - base metals in North/South
America or Europe/Middle East/Africa region
• Structure hedging/financial transactions for best group benefits
• Leverage the Trafigura relationship
• Focus on key values for social and environmental responsibilities
• Focus on broad recognition
...and above all, to enhance value for all shareholders.
6
Iberian - Corporate Summary
• Toronto Venture Exchange listed: IZN
• Headquartered in Toronto, with offices in Geneva, Lima and
Seville
• Domiciled in Switzerland, creating a unique opportunity for the
Iberian Group of companies to optimize the structure of future
transactions
• Operations in Peru and Spain
• More than 2,000 employees and 200 contract workers worldwide
• Strong management and operations teams
• Excellent environmental, social and safety record
• P/NAV Compelling
7
Iberian – Price to Net Asset Value Comparison
0.00x
0.10x
0.20x
0.30x
0.40x
0.50x
0.60x
0.70x
0.80x
0.90x
1.00x
1.10x
1.20x
1.30x
1.40x
Inca P
acific
Chari
ot
Iberian
Anvil
Min
ing
Canden
te
Can
adia
n R
oyaltie
s
Corr
ien
te
FN
X
Fara
llon
Augusta
Taseko
Lund
in
Bre
akw
ate
r
Equin
ox
Poly
Me
t
First
Quantu
m
Qu
adra
Mira
bela
Nic
kel
Capsto
ne M
inin
g
Hudb
ay
Inm
et
Teck R
esourc
es
Kata
nga M
inin
g
Pri
ce
/ N
et
Asset
Valu
e
Producers
Developers
Source: Bloomberg as at September 24, 2009; NAVs based on research analyst consensus.
Common Shares 338.3M
Warrants 7.6M
Options 10.1M
Debenture1 30.0M
Fully Diluted 385.9M
Major Shareholder
Trafigura Beheer B.V 45.93%
1 $25M convertible debt held by Dundee Resources, bearing interest at 6% and convertible at $1.25 maturing July 26, 2011 with an interest rate of 6% payable semi-annually. Convertible at Dundee’s option at any time, in whole or in part, into units of the Company at a conversion price of $1.25 per unit. Each unit will be comprised of one common share and one-half of a warrant, each warrant being exercisable into one common share at $2.00 for a period of two years.
8
Iberian - Capital Structure
IZN three month chart
52 week range $0.94 - $0.19Month range (August) $0.39 - $0.52Market Cap August 31 $131.9MAverage daily volume (3 mo) 586,216
Balance Sheet (in '000s) 30-Jun-09
Cash 34,000
Restricted Cash 3,200
Total Assets 565,000
Long Term Debt 45,300
Convertible Debenture 24,100
Total Debt (app) 130,000
Shareholder's Equity 226,700
9
Condestable Mine - Location
• Consists of two mines– Condestable and Raul.
• located 90km from Lima, with excellent access
to infrastructure
• Copper mineralization at Condestable occurs
in stratiform sulphide-rich replacement
bodies (mantos) and crosscutting sulphide
bearing quartz veins
• Acquired in early 2008, IZN holds 98.7%
ownership
Condestable
Mine
Lima
10
Condestable Mine – Key Facts
• 5th largest copper producer in Peru
• 2009 treatment target – 2,215,000mt, with 1.24% Cu head grade
• 2009 Annual Production Target: 96,400mt of copper concentrates with 26% Cu grade
• Optimized at 6000+ tonnes processed per day
• Low direct costs due to minimal ground support and no required backfilling
• Historically replaced reserves each year with a comprehensive underground drilling program, performed by company personnel
• New 3 year collective labour agreement signed January 2009
11
Condestable Mine
Condestable Mine - Plan view of Infrastructure
12
Condestable
Mine
Raul Mine
Mill
Offices
Tailings Dam #1,
2 and 3Tailings Dam #4
13
Condestable Mine – Reserves & Resources
Proven and Probable Reserves as at June 30, 2008
000’s tonnes % Cu
Proven 6,696 1.27
Probable 3,120 1.30
Total Proven & Probable 9,816 1.28
Stocks (Proven) 262 0.80
Total for Mining Plan 10,078 1.27
Extracted from SRK Consulting 43-101 Technical Report dated January 2009
Mineral Resources as at June 30, 2008
Classification 000's tonnes %Cu
Measured 5,246 1.76
Indicated 2,433 1.82
Total Measured & Indicated 7,679 1.77
Inferred 8,806 1.24
14
Condestable Mine - Production
Production – First 6 Months 2009
• C1 and C3 costs $0.47/lb and $1.07/lb
• Q2 Recovery rate of 91%, and an average
head grade of approximately 1.23% copper
• Capital projects completed
�2009 - Two new six-yard scooptrams, one diamond drill, mill spares (main power transformer and ball mill motor) and completion of the automated plant monitoring and control system. $4.7M announced for the year. Of this, acquisitions of $3.6M are complete, with $2.9M already onsite.
�2008 - New primary crusher, improved tailings thickener, lesser dependence on fresh water wells
• Sustaining Capex 2010 in range of $4-5M
Production Unit April May June Q2 2009
Year to Date 2009
Concentrate DMT 7,509 8,596 8,204 24,309 48,649Contained copper t 1,818 2,092 2,063 5,973 12,087Fine gold oz 1,315 1,507 1,592 4,414 9,072Fine silver oz 17,692 20,667 21,143 59,502 121,199
15
Condestable concessions
Raul concessions
Local exploration concessions
District exploration concessions
CONCESSIONS Number Size (Ha)
Raul concessions 43 6,600
Condestable concessions 3 1,960
Local exploration concessions 16 4,600
District exploration concessions 47 33,560
Total 109 46,720
Condestable Mine - Exploration Concessions
5 KM5 K
M
Results from the most recent VinchosEste drill program are expected at the end of September, 2009.
Iberian has exploration planned for 2010, on concessions surrounding the mine and regionally.
16
VINCHO ESTE PROJECT; 2009
Exploration area 150 HA
RAUL-CONDESTABLE PROJECT; 2009
Exploration area 127 HA
SAN MARCOS PROJECT; 2009 – 2010
Exploration area 300 HA
VINCHO SUR PROJECT; Stand By
Exploration area 150 HA
PACAY PROJECT; Stand By
Exploration area 300 HA
Condestable Mine – Local Exploration
17
Condestable 53
Condestable 10
Condestable 27
mine
10 K
M
CONDESTABLE 10
Exploration area 500 HA
CONDESTABLE 27
Exploration area 900HA
CONDESTABLE 53
Exploration area 600 HA
Condestable Mine – District Exploration
18
Aguas Tenidas Mine - Location
• Located in the Andalucia province of Huelva in southwest Spain, Aguas Tenidas is 100% owned by MATSA, a wholly owned Spanish subsidiary of IZN
• Aguas Tenidas is 80km from Huelva, which contains a major port facility and smelter
• Historically a producing mine, Aguas Tenidas was re-discovered in the 1980’s
• The deposit is part of a roughly east-west striking chain of VMS deposits
• MATSA currently has more than 400 company employees and more than 200 contract workers on site
19
Aguas Tenidas Mine – Key Facts
• New NI 43-101 report for the Aguas Tenidas Mine – outlines plans to target 2.2mtpa production
• Purchased the underground division of Insersa, giving the Company control
• 5 year underground mining operating permit (including blasting) for production ore
• Permanent process plant permit covering the life of mine
• Grant documentation finalized and presented - €10,092,472
• Copper and polymetallic circuits are operational
• Metallurgic recoveries for copper meet or exceed expectations
• Polymetallic circuit converted to copper/lead bulk and zinc concentrate
• Further optimization of the polymetallic circuit underway – completion in Q4
• Commercial production target Q4
• Exploration potential on strike and in vicinity
• Large Exploration potential in JV with Cadillac Ventures
20
Aguas Tenidas Mine
Aguas Tenidas Mine – Process Plant Aerial View
21
22
Aguas Tenidas Mine – Reserves
Reserve Category
Cupriferous Polymetallic
Tonnes Mt
Cu % Zn % Pb % Ag g/t Au g/tNSR
Euro/tTonnes
MtCu % Zn % Pb %
Ag g/t
Au g/tNSR
Euro/t
Proven 2.41 2.16 0.80 0.17 21.90 0.30 70.90 2.44 0.87 6.48 1.86 62.90 0.87 82.20
Probable 6.40 2.32 0.99 0.24 28.20 0.43 77.80 7.96 1.28 6.48 1.98 70.80 0.78 101.50
TOTAL 8.81 2.27 0.94 0.22 26.50 0.40 75.90 10.40 1.19 6.48 1.95 69.00 0.80 97.00
Aguas Tenidas – Proven and Probable Mineral Reserves at 30th June, 2009
Note – In determining mining reserves, reserves were blocked out on the basis of contained NSR value, with reference to the combined
stoping and processing costs. The NSR values were calculated using metal prices of $4.500/t Cu, $1,650/t Zn, $1,650/t Pb, $12.50/oz Ag,
$750/oz Au. Copper ore is split approximately 82% : 18% Cupriferous : Stockworks
Extracted from Report 43-101 Technical Report on the Mineral Resources and Reserves of the Aguas Tenidas Mine Project – Spain,
Prepared for Iberian Minerals Corp. by Adam Wheeler, 11 September 2009
Reserve Category Total Tonnes MT
Proven 4.85
Probable 14.36
Total 19.21
23
Resource Category Mt Cu (%) Zn (%) Pb (%) Ag (g/t) Au (g/t)
Cupriferous Type
Measured 5.40 1.9 0.9 0.2 23.0 0.4
Indicated 6.76 2.4 1.1 0.3 32.1 0.5
Total M & I 12.16 2.2 1.0 0.2 28.1 0.4
Polymetallic Type
Measured 5.39 0.6 6.7 1.8 56.3 0.8
Indicated 7.13 1.3 7.8 2.3 80.1 0.8
Total M & I 12.52 1.0 7.3 2.1 69.8 0.8
Stockworks
Measured 0.93 2.0 0.3 0.1 9.4 0.1
Indicated 1.89 1.7 0.1 0.1 6.1 0.1
Total M & I 2.82 1.8 0.2 0.1 7.2 0.1
Aguas Tenidas – Measured and Indicated Mineral Resources at 30th June, 2009
Aguas Tenidas Mine – Resources
Extracted from Report 43-101 Technical Report on the Mineral
Resources and Reserves of the Aguas Tenidas Mine Project – Spain,
Prepared for Iberian Minerals Corp. by Adam Wheeler, 11
September 2009
Notes:
- Measured and indicated resources shown are
inclusive of reserves
- Mineral Resources were evaluated using the
following cut-off grades:
- Polymetallic 3% Zn
- Cupriferous 1% Cu
- Stockworks 1% Cu
Combined Resources
Class Total Tonnes Mt
Measured 11.72
Indicated 15.78
Total 27.5
Aguas Tenidas Mine – Inferred Resources
24
Class Mt Cu % Zn % Pb % Ag g/t Au g/t
Cupriferous Main Zone 1.34 3.52 0.61 0.08 23.00 0.44
Western Extension 6.25 1.99 1.51 0.50 37.70 0.67
Total 7.59 2.26 1.35 0.42 35.10 0.63
Polymetallic Main Zone 0.87 1.24 10.33 2.63 111.20 0.88
Western Extension 1.94 1.64 4.00 1.31 64.70 0.56
Total 2.81 1.52 5.96 1.72 79.10 0.66
Stockworks 690800-691060 0.22 1.38 0.05 0.02 4.60 0.03
Aguas Tenidas – Inferred Mineral Resources at 30th June, 2009
Extracted from Report 43-101 Technical Report on the Mineral Resources and Reserves of the Aguas Tenidas Mine Project – Spain,
Prepared for Iberian Minerals Corp. by Adam Wheeler, 11 September 2009
Notes: - Measured and indicated resources shown are inclusive of reserves
- Mineral Resources were evaluated using the following cut-off grades:
- Polymetallic 3% Zn
- Cupriferous 1% Cu
- Stockworks 1% Cu
Total Inferred Resources
Total Tonnes Mt 10.62
Aguas Tenidas Mine - Mineralization
25
Zn/Pb/Cu Massive Sulphides
Cu Massive
Sulphides
Cu - Stockwork
Aguas Tenidas Mine – Life of Mine 2009-1018
26
Ore 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Total
Co
pp
er
Ore
s (M
assive
Sulp
lide
&
Co
pp
er
Stockw
ork)
kt 641 1,180 1,369 1,284 1,287 825 781 798 538 305 8,810
% Cu 2.06 2.07 2.22 2.21 2.31 2.40 2.51 2.57 2.23 2.09 2.27
% Zn 0.71 0.96 1.14 1.07 0.58 1.04 0.91 0.84 0.98 1.24 0.94
% Pb 0.17 0.20 0.25 0.23 0.12 0.25 0.25 0.25 0.30 0.38 0.22
Ag
(g/t)21.5 24.2 27.2 24.9 19.3 27.7 32.4 30.0 34.7 33.9 26.5
Po
lyme
tallic
Ore
kt 254 748 833 939 951 1,375 1,419 1,402 1,662 913 10,399
% Cu 1.00 0.93 1.03 1.22 0.94 1.19 1.27 1.24 1.33 1.30 1.19
% Zn 5.26 6.05 5.89 4.82 6.66 6.68 6.51 6.92 6.97 7.05 6.48
% Pb 1.11 1.62 1.58 1.43 2.08 1.92 2.04 2.13 2.24 2.20 1.95
Ag
(g/t)45.2 58.2 63.4 57.9 64.8 66.1 71.5 73.3 78.2 76.1 69.0
Total Ore (kt) 900 1,928 2,202 2,223 2,238 2,200 2,200 2,200 2,200 1,218 19,209
Years 2010 to 2018 Based on Table 19-3 Page Nº 110 NI 43-101 Technical Report Sept 11th, 2009
Aguas Tenidas Mine - LOM Processed Ore & Key Ore Grades
27
610,142
1,295,0001,365,000
1,265,000 1,250,000
830,000 775,000800,000
535,000
85,000
253,550
740,000
835,000 935,000 950,000 1,370,000 1,425,000 1,400,000 1,665,000
817,000
2.1% 2.0%2.2% 2.2% 2.3% 2.4% 2.5% 2.6%
2.3%
2.2%
5.3%
5.9% 5.9%
4.8%
6.6% 6.7%6.5%
6.9% 7.0%
7.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2,009 2,010 2,011 2,012 2,013 2,014 2,015 2,016 2,017 2,018
Tm
s
Processed Ore LOM
Polymetallic Copper %Cu Cupriferous %Zn Polymetallic
Aguas Tenidas Mine – LOM Metal Production (tonnes metal)
28
9,879
25,382
29,975 30,18228,424
26,648 27,438 27,92324,037
8,3245,454 7,175 7,462 8,225
14,560 16,092 15,532 19,5879,436
8,233
42,104
49,164
44,554
50,848
75,275 74,97377,448
91,126
43,860
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Tm
s
Metal Production Life-of-Mine
Copper Lead Zinc Cu in Bulk
Aguas Tenidas Mine – 2010 Unit Operating Cost Breakdown
29
OPERATING COST ESTIMATE 2010
Area $US/t
Mining 22.79
Labour 8.41
Contract 2.75
Power 1.14
Consumables 10.50
Process Plant 19.39
Labour 3.45
Electrical Power 4.25
Reagents 4.56
Grinding Media 3.22
Other Consumables 3.07
Tailings 0.84
Paste Plant 0.53
General & Administration 6.85
Total Operating Cost 49.57
• C1 + C3 costs will be available after commercial production
Aguas Tenidas – MATSA Mining Rights
30
Aguas Tenidas
31
Iberian - Finances
Key Points
• Consolidated Reserves 29Mt +
• MATSA Resources 27Mt + (CMC replaces annually)
• Production 2010 (est): 50,000t+ copper, 42,000t+ zinc & 5,400t+ lead
• No project debt
• Flexibility in dealing, with no bank covenants/restrictions
• Bought deal financing completed in May 2009 - $40M
• Current funding of $20-30M to be debt financed
• No planned equity financing
• SocGen $70M facility at Condestable balance, at June 30, 2009 approximately $52M; being repaid at $6M per quarter
• Trafigura NPI at Condestable (46% of net profits 2011-2014) is in range of US $11M (assuming current year figures)
Iberian - Capex 2009/2010
32
Aguas Tenidas Capex 2009/2010:
Mine Infrastructure k$ (8,314,759) (10,840,788)
Mine Projects k$ (9,648,104) (778,400)
Mine Equipment k$ (12,010,143) (2,545,200)
Drillings: Mine k$ (2,169,694) 0
Drillings: Surface k$ 0 (1,008,000)
Sulphides Plant k$ (36,022,846) 0
Plant Projects k$ (11,257,172) (2,819,250)
Paste Backfill Plant k$ (4,962,952) (84,000)
Plant Maintenance Workshop k$ 0 0
Electrical Installations k$ (408,664) 0
Buildings, Infrastructure k$ (1,634,703) (280,000)
Tailings k$ (1,215,372) (5,271,360)
Communications k$ (292,477) (280,000)
License k$ (1,218,000) (1,289,070)
Safety k$ (311,420) 0
Spare parts k$ 0 0
INSERSA k$ (9,450,000) 0
Others k$ 69,610 0
Total k$ (98,846,697) (25,196,068)
The cornerstone of Iberian's Hedging Policy is the protection of the Company's
assets. Hedging activity and monitoring is overseen by the Company's Hedging
Committee.
The Hedging Committee continually reviews the markets in which the Company trades, and
depending on circumstances, decides if any additional or altered hedging is appropriate to
enhance the future cash flow of the Company’s operations, and protection of the Company’s
assets.
Condestable Mine hedges are as follows:
Iberian – Hedging
33
CMC
As at Sep. 30/09
Copper Q4 2009 2010 2011 Q1 2012
% of hedgeable 87 89 89 31
tonnes 5000 20475 20625 1750
Avg. Price 4419 4419 3494 3408
Gold Q4 2009 2010 2011 Q1 2012
% of hedgeable 14 14 14 0
ounces 600 2400 2400 0
Avg. Price 741 741 741 0
Silver NO POSITIONS
34
Iberian – Hedging
Aguas Tenidas Mine hedges are as follows:
MATSA
As at Sep. 30/09
Copper
Q4
2009 2010 2011 Copper calls sold
% of hedgeable 30 77 0 2010 5175 t @ $4,200
tonnes 1325 20100 0
Avg. Price 6100 4116 0
Zinc
Q4
2009 2010 2011 Zinc calls sold
% of hedgeable 0 51 0 2010 4900 t @ $1,500
tonnes 0 17350 0
Avg. Price 0 1418 0
NO OTHER POSITIONS IN OTHER METALS
Trafigura – Available Support
• Leverage – project and debt funding
• Expertise in hedging commodities and currencies
• Off-take agreements – single customer at benchmark/spot
• Board expertise – Jeremy Weir and Jesus Fernandez, with invaluable global
insight (2 of 7 board members)
• Traditionally supportive in financing requirements
35
36
Future Plans - Criteria
• Targets in the base metals space
• Focus on copper, zinc, lead with potential interest in nickel
• Mid size with ideally a minimum of 25kt annual production of copper
equivalent units
• Assets preferably in in North/South America or Europe/Middle
East/Africa region
• Producing (preferable) or (second choice) near production stage with at
least a completed bankable feasibility study
• Corporate merger or asset acquisition
37
Board of Directors
Norman Brewster P.Geo, Chairman of the Board, Director – Norman is a geologist who joined IZN in 2002. He also sits on the board of Cadillac Ventures Inc.
Philippe Blavier, Director – Philippe is Chairman of the Company’s Audit Committee and a member of the Remuneration Committee of the Company. He has extensive experience at BNP Paribas, where he was Head of Corporate & Investment Banking and Member of the Executive Committee.
Jesus Fernandez, Director – Jesus has been part of the Trafigura team since 2004 as Manager of the Corporate Finance team, with an emphasis on mining and downstream oil project investments. He joined IZN’s board in 2008.
L. Jack Gunter, P.Eng, FIMM, Director – Jack has over 45 years experience in the mining industry. He has worked previously with Rio Tinto and Phelps Dodge, and also sits on the board of Galantas Gold Corp.
Murray John, Director – Murray is an engineer with more than 25 years experience in the resource industry. He is currently the President & CEO of Dundee Resources.
Jeremy Weir, Director – Jeremy works as Executive Director and Manager at Trafigura, where he has also been head of the metals derivatives trading structured products and risk management departments.
Daniel Vanin, Director – Daniel is the President and CEO of Iberian.
38
Management
Daniel Vanin – P.Eng, President & CEO – Daniel has worked in the mining industry for over 30
years and has strong international mine development and management skills with
extensive experience in Canada, South America, Africa and Russia. He is a
professional mining engineer and graduated from McGill University, Montreal, in
1975. Most recently, Daniel was Executive VP & Chief Operating Officer at High River
Gold. Prior to that, he was Chief Executive Officer of RBG Resources Plc, in Bolivia,
where he managed all operations, project development and construction at the
Vinto smelter and Huanuni tin mine.
David Poynton, Senior Vice-President, General Counsel and Corporate Secretary - David is a
lawyer with more than 20 years experience in private practice with public
companies, private entrepreneurs and the non-profit sector, with a particular
emphasis on, and understanding of the mining industry. David acted as primary
counsel to many TSX and TSX-V issuers before joining Iberian in January 2009.
Jeff Hillis, CFO - Mr. Hillis joined Iberian in June 2009. He has worked in the mining industry
for over 5 years in progressively more senior finance and reporting positions. He
most recently served as CFO of a TSX listed mining company based in
Toronto. Jeffrey is a Chartered Accountant (Ontario, 2001). He worked for three
years in the audit group of Ernst & Young with major clients in the mining industry.
Photo Gallery - Condestable
39
Plant & Concentrator
Underground Fico Ramp undergroundCopper flotation
Crushed ore
Photo Gallery – Aguas Tenidas
40
Underground Underground
Aguas Tenidas View of the two stockpiles
Plant and ore stockpiles
Photo Gallery – Aguas Tenidas
41
Ball & SAG mills
Process Plant
Concentrates awaiting shipping Paste plant
Iberian
Appendix
Tailings Dam 4
Tailings Dams
1,2 and 3
Thickener
8,606 400 m3
Plant
Total capacity 8,606,400 m3
Accumulated to Jul-09 1,444,580 m3
Difference 7,161,820 m3
Volume per month 100,000 m3
Life of the Tailings Dam 6.0 years
Tailings Dam N°4
Tailings Dam 4
Dam Limit (life: 6 years)
Current
Condestable Mine - Tailings
A-1
RP PRINCIPALRP FICO
LV +20
LV -175
LV -55
LV -130
DEEPENING
LV -20
LV -95
LV -215
LV -255
OPEN PIT RAUL
KARINA VEIN
A-2
Condestable Mine – Raul model view
Aguas Tenidas Mine – Plan Section
A-4
X =
69038
0
Plan view of Aguas Tenidas Resource Limits from Adam Wheeler 43-101
A-5
Aguas Tenidas Mine – Long Section
X =
69038
0
Long section view of Aguas Tenidas Resource Limits from Adam Wheeler 43-101
A-6
Aguas Tenidas Mine – Mine Overview & Design
Aguas Tenidas Mine – Overview & Stopes
A-7
Legend
COB : Red
POL : Blue
CSW : Green
Aguas Tenidas – Typical Stoping Method & Sequence
A-8
Aguas Tenidas – Typical Stoping Method & Sequence
A-9
Down Access Gallery
LOS Rings
Slot Gallery W and E
Stope Slot Raise
SOUTH-NORTH SECTION WEST-EAST SECTION