tasman corporate - presentation
DESCRIPTION
Tasman Metals Ltd (TSX.V : TSM; Frankfurt : T61; Pink Sheets : TASXF) is a Canadian mineral exploration and development company focused on Strategic Metals in the European region.TRANSCRIPT
TASMANTASMANTASMANMETALS LIMITED
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Strategic metals, strategic locations
Corporate DisclaimerCorporate Disclaimer1
Some of the statements contained in the following material may be "forward‐looking statements." Allstatements, other than statements of historical fact, that address activities, events or developments thatTasman Metals Ltd (“Tasman”) believes, expects or anticipates will or may occur in the future areforward‐looking statements. Forward‐looking statements are often, but not always, identified by the useforward looking statements. Forward looking statements are often, but not always, identified by the useof words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" andstatements that an event or result "may," "will," "can," "should," "could," or "might" occur or beachieved and other similar expressions. These forward‐looking statements reflect the currentexpectations or beliefs of Tasman based on information currently available to Tasman.
Forward‐looking statements are subject to a number of risks and uncertainties that may cause the actualresults of Tasman to differ materially from those discussed in the forward‐looking statements, and evenif such actual results are realized or substantially realized, there can be no assurance that they will havethe expected consequences to, or effects on Tasman. Factors that could cause actual results or events todiffer materially from current expectations include among other things failure to successfully completediffer materially from current expectations include, among other things, failure to successfully completeintended financings, capital and other costs varying significantly from estimates, production rates varyingfrom estimates, changes in world metal markets, changes in equity markets, uncertainties relating to theavailability and costs of financing needed in the future, equipment failure, unexpected geologicalconditions, imprecision in resource estimates, success of future development initiatives, competition,operating performance of facilities environmental and safety risks delays in obtaining or failure to
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operating performance of facilities, environmental and safety risks, delays in obtaining or failure toobtain necessary permits and approvals from government authorities, and other development andoperating risks. Any forward‐looking statement speaks only as of the date on which it is made and,except as may be required by applicable securities laws, Tasman disclaims any intent or obligation toupdate any forward‐looking statement, whether as a result of new information, future events or results
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Although Tasman believes that assumptions inherent in the forward‐looking statements are reasonable,forward‐looking statements are not guarantees of future performance and accordingly undue relianceshould not be put on such statements due to the inherent uncertainty therein.
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Corporate Overview & StrategyCorporate Overview & Strategy2
Focused on “high‐tech” metals including Rare Earth Elements
“Th EU i hi hl d d t i t f “hi h
COM(2008) 699 : The raw materials initiative — meeting our critical needs for
growth and jobs in Europe
(REE) in Europe;
The European Commission is
“The EU is highly dependent on imports of “high-tech” metals such as cobalt, platinum, rare earths,
and titanium. Though often needed only in tiny quantities, these metals are increasingly essential
to the development of technologically sophisticated prod cts in ie of the gro ingThe European Commission is
acting to promote domestic supply capacity of REE’s;
sophisticated products in view of the growing number of their functionalities. The EU will not master the shift towards sustainable production and environmentally friendly products without
such high tech metals.
Tasman’s portfolio is unique in the EU, with the capacity to
Brussels, 4.11.2008
European Minerals Conference : Critical raw materials for the EU Report
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the EU, with the capacity to deliver “high‐tech” metals from politically stable, mining friendly
“Today’s report provides very valuable input for our efforts to ensure that access to raw materials for enterprises will not be hampered. We need fair play on external markets, a good framework to foster sustainable raw materials supply from
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The only 43‐101 REE resource in
to foster sustainable raw materials supply from EU sources as well as improved resource
efficiency and more use of recycling. We aim to make sure that Europe’s industry will be able to continue to play a leading role in technologies and innovation and we have to ensure that we
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ymainland Europe
and innovation and we have to ensure that we have the necessary elements to do so.''.
Mr Antonio Tajani, EC Vice-President for Industry and Entrepreneurship, June 2010
Strong Mining Countries, No CompetitionStrong Mining Countries, No Competition3
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Tasman Tasman –– On the Short ListOn the Short List4
RARE EARTH COMPANY SYMBOL SHARES ISSUED MARKET CAPITAL KEY PROJECT STATUS COUNTRY
M l I MCP Z 82 253 700 3 971 208 636 MOUNTAIN PASS DEVELOPMENT USA
Bloomberg REE Index With % Weighting
Molycorp Inc MCP‐Z 82,253,700 3,971,208,636 MOUNTAIN PASS DEVELOPMENT USA
Lynas Corp Inc LYC‐ASX 1,655,499,093 3,162,003,268 MT WELD DEVELOPMENT AUSTRALIA
Avalon Rare Metals Inc AVL‐T 92,269,320 691,097,207 THOR LAKE PFS CANADA H
Rare Element Resources Ltd RES‐V 41,926,102 575,645,380 BEAR LODGE PFS USA
Arafura Resources Ltd ARU‐ASX 290,640,342 383,645,251 NOLANS BORE PFS AUSTRALIA
Quest Rare Metals Ltd QRM‐V 58,176,266 357,784,036 STRANGE LAKE PFS CANADA H
Greenland Min and En Ltd GGG‐ASX 280,456,517 344,961,516 KVANEFJELD PFS GREENLAND
Great Western Min Gp Ltd GWG‐V 356,181,292 327,686,789 STEENKAMPSLRAAL EXPLORATION SOUTH AFRICA
Alkane Resources Ltd ALK‐ASX 249,028,158 306,304,634 DUBBO FS AUSTRALIA
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Tasman Metals Ltd TSM‐V 55,376,402 304,016,447 NORRA KARR EXPLORATION SWEDEN
Frontier Rare Earths Ltd FRO‐T 89,080,080 285,056,256 ZANDKOPSDRIFT EXPLORATION SOUTH AFRICA
Hudson Resources Inc HUD‐V 61,904,266 103,380,124 SARFARTOQ EXPLORATION GREENLAND
H
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Navigator Resources Inc NAV‐ASX 414,982,248 80,921,538 CUMMINS RANGE EXPLORATION AUSTRALIA
Matamec Explorations Inc MAT‐V 113,430,186 53,879,338 KIPAWA EXPLORATION CANADA
= peralkaline syenite
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• Closing prices as at 15 Feb 2011• Tasman makes no claims as to the accuracy of this information• http://www.techmetalsresearch.com/2011/01/the-bloomberg-rare-earth-mineral-resources-index/
= peralkaline syenite= carbonatite= apatite pegmatite (?)= monazite bearing vein
Tasman Tasman –– Highest HREE % of Advanced ProjectsHighest HREE % of Advanced Projects5
100%
Bloomberg REE Index Projects With % HREE
80%
90%
60%
70%
>10% HREE Projects
40%
50%
LREE
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20%
30%
HREE
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0%
10%
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Norra Norra KärrKärr : Key Features For Early Development: Key Features For Early Development6
Excellent infrastructure, with roads, and power at site and a nearby port.
Sweden is a mining friendly jurisdiction.
The inferred Mineral Resource comprises a large volume amenable t it i ito open pit mining;
An unusually high proportion of high value heavy rare earth oxides (HREO) exceeding 50%;
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oxides (HREO), exceeding 50%;
Enrichment of yttrium and dysprosium, two elements in scarce supply and strong demand
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Norra Kärr is unusually low in uranium and thorium relative to peer company projects The mine site will not require any
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peer company projects. The mine site will not require any special permitting or monitoring for radioactivity.
Capital StructureCapital Structure7
CANADA: TSXv : TSM
SHARES ON ISSUE: 58,000,000
FULLY DILUTED: 64 027 343FULLY DILUTED: 64,027,343
52 WEEK HIGH/LOW: $5.90 / $0.40
INSIDERS: 16%
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RECENT PRICE: C$ 4.40
MARKET CAP: C$ 250 M
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CASH: C$ 14.5 M
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Tasman’s Management TeamTasman’s Management Team
DIRECTORSDIRECTORS8
DIRECTORSDIRECTORSMark Saxon (President & CEO)
B S (H ) GDi A Fi MA IMM MAIGB.Sc.(Hons), GDipAppFin, MAusIMM, MAIG
David Henstridge (Non Executive Chairman)B.Sc (Hons), FAusIMM, MAIG, MGSAust
Robert Atkinson BComm
Ni k D M (CFO)Nick DeMare (CFO)BComm CA
Michael Hudson
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c ae udsoB.Sc.(Hons), GDipAppFin, FAusIMM, MSEG, MAIG
ALSOALSO
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Les Heymann – REE MetallurgistNick Nicolaas (Mining Interactive) – IR
Share Price HistoryShare Price HistoryAVG DAILY VOLUME
AVG DAILY VALUE MONTH
319,000 $1,433,000 January 119
TSM : $ 260 millionAVL : $ 830 millionRES : $ 590 millionQ $
287,900 $1,305,100 December 10
703,000 $1,725,000 November 10
389,000 $747,000 October 10
470,700 $744,500 September 10
30th November 2010 : First TSM Resource
QRM : $ 390 million181,100 $199,200 August 10
127,800 $94,600 July 10
47,500 $36,200 June 10
91,800 $99,100 May 10, $ , y
109,200 $144,500 April 10
413,500 $465,900 March 10
23,600 $13,900 February 10
32 600 $22 200 January 10
10th Dec 2009 : Drilling
Chinese – Japanese Dispute
32,600 $22,200 January 10
31,000 $20,500 December 09
62,700 $43,800 November 09
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10 Dec 2009 : Drilling
Molycorp Lists
10c25c 60c $1.50
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4th March 2010 : First Drill Results Chinese Announcement of Quotas
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Recent TSM financing
REE’s REE’s –– Where They Fit InWhere They Fit In10
Periodic Table Of ElementsPeriodic Table Of Elements
om Lanthanide
RARE EARTH ELEMENTS
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Series
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LIGHT RARE EARTH ELEMENTS(LREE)
HEAVY RARE EARTH ELEMENTS(HREE)
OTHER STRATEGIC METALS
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Strategic Metals Strategic Metals –– Critical for Green EconomiesCritical for Green Economies11
Strategic metals, including “Rare Earth Elements” (REE’s) sought due to their critical role in high‐tech applications and energy efficient technologies “TECHNOLOGY ENABLERS” ;
REE’s are essential in production of hybrid/electric cars, solar panels, wind turbines, compact fl t li hti hi h t th t hflorescent lighting, high strength magnets, phones and computers but “INVISIBLE METALS”;
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Due to their unique properties, REE’s cannot be substituted, and generally used in volumes too small to be currently considered for recycling;
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Market is complex, non‐transparent, contract d i Si il t h i l l t i i
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driven. Similar to chemical supply, not mining;
Expanding REE ConsumptionExpanding REE Consumption12
Invisible Metals.......
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Source : Neo Materials
REE’s REE’s –– They Are Not All the SameThey Are Not All the Same13
La oxide 99% FOB = $115.00 / kg
Ce oxide 99% FOB = $120.00 / kgEE’S
Rechargeable Batteries
Catalysts, Glass Polishing Met
als
Pr oxide 99% FOB = $200.00 / kg
Nd oxide 99% FOB = $200.00 / kg
LIG
HT
RE
Magnets, Glass Colouring
Magnets, Lasers, Glass
K
ey
Sm oxide 99% FOB = $150.00 / kg
Eu oxide 99% FOB = $1000.00 / kg
S
L
Magnets, Lighting, Lasers
Red Phosphors (Screens, Lighting)
Gd oxide 99% FOB = $150.00 / kg
Tb oxide 99% FOB = $1050.00 / kg
VY R
EE’S
Green Phosphors, Magnets
Nuclear Reactors, Medicines
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Dy oxide 99% FOB = $650.00 / kg
Y oxide 99.9% FOB = $145.00 / kgHEA
V High Temp Magnets, Lasers
Phosphors, Lasers
r
** REE’s DO NOT OCCUR IN NATURE IN SAME RATIO THEY ARE CONSUMED
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Ag metal = $1050.00 / kg
Cu metal = $10 / kg
Nor
raK
arr** REE’s DO NOT OCCUR IN NATURE IN SAME RATIO THEY ARE CONSUMED
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Au metal = $46,000.00 / kg
g $ g
Source: Metals Pages, March 2011
REE’s REE’s –– A Growing Market, Tightening SupplyA Growing Market, Tightening Supply14
Total global demand in 2010 was approximately 135,000 tonnesof rare earth oxides (“REO”), of which 95% came from China. An average “basket” price of US$70 was achieved with a totalaverage basket price of US$70 was achieved with a total market value in excess of US$ 8 billion ;
Annual production in 2015 is projected to be up to 215,000 tonnes, which at current prices, suggests a market value of US$ 15 billion (gold and silver have a market values $112B and $18B respectively) ;
China controls REE supply in its own commercial interest.Production and export quotas and taxes on REE’s aim to encourage domestic consumption.
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Export licences for REE’s were reduced by 35% in 2009 from 2008 levels, and 40% in 2010 from 2009 levels;
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J i ti l ki l d h d
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Japan is actively seeking new supply sources and has expressed concern at China’s market strength.
REE Production and PricingREE Production and Pricing15
1970 1980 1990 2000 2010
Molycorp / Lynas Corp projected
Low REE prices are a thing of the past. Chinese production costs are rising rapidly due to: • Wage pressures• Cost of inputs rising – chemicals and energy• Environmental mitigation and remediation
180,000
REO
US $ 70
light REE production
• Environmental mitigation and remediation• Industry consolidation• Clamp down on illegal mining
120,000
Tonnes of REO exported from
China
Tonn
es o
f R
US $ 30
80,000
pChina shown with yellow bars. Exports have fallen sharply under quota system.
Average REO pricing
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C a(production)
US $ 30
40,000
Average REO pricing shown with black line and US $ in 2009 equiv.
30 582 t
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ROW (production) US $ 5
30,582 t
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MAR 2011Modified from: USGS, IMOCA, Lynas Corporation Ltd, Laurentian Bank
Ce/La was >75% REO production in 2010; HREE comprise 15% of total volume
60
d
REE’s REE’s –– Prices StrengtheningPrices Strengthening16
55
50a,
Ce,
Pr,
Nd
Price movements for selected rare earth oxides
Eu, D
y
45
40 600
L Q1 2001 – Q3 2010
35
30
500
40025
20
400
300
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15
10
200
100
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
5
0
100
0
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LanthanumOxide
CeriumOxide
DysprosiumOxide
NeodymiumOxide
EuropiumOxide
Global Rare Earths Consumption in 2015Global Rare Earths Consumption in 201517
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Tasman’s potential contribution – Dy, Y, Zr, Nd, Eu, Tb
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Source: IMCOA
as a s pote t a co t but o y, , , d, u, bTotal market trade about $2 billion, critical to >$200 billion supply chains
EU is Responding to Supply CrisisEU is Responding to Supply Crisis18
The EU has recognized development of high‐tech/high‐capital industries are dependant on secure REE supply. A series of Working Papers have defined critical metals and speculated future supply optionscritical metals and speculated future supply options
European supply has not been secured. High‐tech manufacturing industries in EU remain fully exposed to Chinese output.
Source: Critical Raw Materials for the EU: report of the Ad-Hoc Working Group
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Supp
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Economic Importance
REE’s are Front Page News in EuropeREE’s are Front Page News in Europe19
October 26, 2010U.S. and EU Urged to Join
Forces on R E MetalsBERLIN — The United
January 26, 2011EU considers tough stance
on raw materials The European Union will
January 31, 2011EU looks for new mineral
strategiesRecycling and more efficient
January 31, 2011German groups seek rare-earth deal with KazakhstanGerman companies thatBERLIN The United
States and Europe shouldwork together with industry toreduce dependence onChina for crucial mineralsbecause global trade bodies
The European Union willconsider stockpiling rawmaterials and will confrontany country that restrictssupplies, according to aEuropean Commission
Recycling and more efficientuses of rare earth minerals isthe best method available tothe European community alawmaker said.
German companies thatwant secure access to REE’sare gearing up for acooperative agreement withKazakhstan, they said onMondaybecause global trade bodies
are ill-equipped to solve theproblem of withheld supplies,officials and executives saidTuesday at a high-levelconference
European Commissionstrategy document.
"The EU will continue topursue barriers hamperingthe sustainable supply of raw
A committee examiningenergy and industry in theEuropean community lookedat how best to conserve rareminerals that help drive the
Monday.
Worried by restrictionsimposed by China, theworld's leading producer ofthe critical elements used inconference.
Germany has been the mostvocal country in Europe inraising concerns about thepotential economic impact of
the sustainable supply of rawmaterials to the EUeconomy," said a draft paperseen by Reuters on Tuesday(25 January), which will feedinto a strategy review to be
minerals that help drive theEuropean economy.
"We need not be dependenton any single country," hesaid "For the transition let's
the critical elements used inhigh-tech products,companies have beenworking for half a year on thedeal, Eckard Cordes, head ofthe distribution group Metro
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potential economic impact ofshortfalls of rare earth andother metals, and itseconomy minister was afeatured speaker at theconference organized by the
into a strategy review to belaunched before April.
Shortages of rare earthminerals, used in high-techand defence production
said. For the transition let sfind win-win solutions.”
the distribution group Metro,told a press conference.
http://www.expatica.com/de/news/german-news/german-groups-seek-rare-earth-deal-with-kazakhstan 126808 html
http://www.upi.com/Science_News/Resource-Wars/2011/01/31/EU-looks-for-new-mineral-strategies/UPI-75681296485402/
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and defence production,have sent jitters around theworld since dominantproducer China restrictedexports.
kazakhstan_126808.html75681296485402/
http://www.nytimes.com/2010/10/27/business/energy-
/ ? &
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http://www.euractiv.com/en/sustainability/eu-considers-tough-stance-raw-materials-news-501587
environment/27rare.html?_r=2&src=busln
Scandinavia Scandinavia –– The Home of REE’sThe Home of REE’s20
The region is well endowed with REE, including former mines. Many REE’s were first discovered in Sweden, including cerium, erbium, holmium, lanthanum, scandium, terbium, thulium, ytterbium, yttrium.
The REE mineral bastnäsite originates from the Swedish village of Bastnäs, where cerium ore was mined in the late 1800’s ;
Scandinavia shows good examples of a range of REE deposit styles, including:
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Iron‐REE Deposits: iron oxide with skarn +/‐ apatite
Carbonatites with Y, Ba, La, Se
Pegmatites
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Peralkaline igneous rocks
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Per Teodor Cleve Carl Gustaf Mosander
Scandinavian REE Projects Portfolio Scandinavian REE Projects Portfolio 21
Tasman has applied for 100% ownership of a strong portfolio of REE projects in Sweden,
BIG
Projects characterized by:
Finland & Norway. BIG
SOK
excellent existing infrastructure;stable jurisdictions
OTA
mining friendly countriesgreen‐energy focused regions
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KORSAR
ALN
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traditional deposit stylesformer REE producing area
NOR
BASSilmet REE Plant
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NOR
NOR: Norra KärrSAR Sä
OTA: OtanmakiSOK S kli
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security of the European Union.SAR: SärnaKOR: Korsnäs ALN: Alnön
SOK: SokliBIG: Biggejav'ri
Norra Norra KärrKärr (Sweden) (Sweden) –– Fast track PotentialFast track Potential22
MAJOR PORT
CHEMICAL PLANT
MAJOR MINE
NORRA KARR
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Intrusion outline
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100 km0.25 km
Norra Norra KärrKärr (Sweden) (Sweden) –– Fast track PotentialFast track Potential23
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No helicopters;No barges;No float planes;
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Accommodation;Freehold land;
Norra Norra KärrKärr (Sweden) (Sweden) –– Project HistoryProject History24
Discovered in 1906;
Explored by Boliden AB for nepheline in p y pthe late 1940’s;
Explored by Boliden in 1970’s for Zr/Hf.
Relinquished in 2001 and data only made available in 2009;
Declared “project of National Interest” in 2002;
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Tasman claimed the ground in mid –2009;
First drilling in December 2009 – 26
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First 43‐101 compliant resource
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pNovember 2010;
2010 Drilling Results2010 Drilling Results25
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2010 Drilling Results 2010 Drilling Results –– Cross SectionsCross Sections26
C
D
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200 metre spaced sections
E
Norra Norra KärrKärr (Sweden) : 43(Sweden) : 43--101 Resource101 Resource27
TREO % Cut-off
Million Tonnes TREO %
% of HREO in
TREOZrO2 % HfO2 %
Tonnes of Contained
TREO
0.6 16.2 0.66 52% 1.80 0.033 106,900
0.5 38.4 0.60 52% 1.75 0.034 230,400,
0.4 60.5 0.54 53% 1.72 0.034 326,700
0.3 77.9 0.50 54% 1.70 0.035 389,5000.3 77.9 0.50 54% 1.70 0.035 389,500
0.2 99.3 0.45 53% 1.60 0.034 446,800
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Inferred Resources at Norra Kärr based on 26 drill holes, published November 2010 by Pincock Allen & Holt
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See www.tasmanmetals.com for more information
;) g g
Norra Norra KärrKärr –– Mineralized Rock TypesMineralized Rock Types28
Elevated grade rocks : 0.5 ‐ 0.8% TREO with 1.3 ‐ 2.3% Zr2O3
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NKA0904 : 14.1m Partial melt/pegmatite within grennaite, 2 types of eudialyte visible, some fluorescent
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catapleite
Norra Norra KärrKärr –– Mineralized Rock TypesMineralized Rock Types29
Modest grade rocks : 0.2 ‐ 0.3% TREO with 1.5 ‐ 2.5% Zr2O3
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NKA0902 : 113.5m Mid olive green grennaite with blueish fluorescent catapleite laths in various orientations.
Norra Norra KärrKärr –– Mineralized Rock TypesMineralized Rock Types30
High grade rocks : >0.8% TREO with 2.0 – 4.0 % Zr2O3
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NKA0902: 38.8m Mafic mineral rich interval with high REE. Arfedsonite with aegirine growths. Veins of semi‐massive eudialyte.
Norra Norra KärrKärr (Sweden) (Sweden) –– 2010 Drilling Results2010 Drilling ResultsS C O 0900 2 02 6 9 @ 0 3 % O 6 6% O 9 % 2O
31SECTION B NKA09007 42.4m ‐ 102m: 56.9m @ 0.35% TREO, 64.6% HREO, 1.94% Zr2O
106.2m ‐ 149.3m: 43.1m @ 0.27% TREO, 63.7% HREO, 1.42% Zr2ONKA09008 3.1m ‐ 22.4m: 19m @ 0.29% TREO, 63.7% HREO, 1.80% Zr2O
28.4m ‐ 52.9m: 25m @ 0.33% TREO, 63.2% HREO, 1.81% Zr2O64.5m ‐ 98.6m: 34m @ 0.26% TREO, 65.0% HREO, 1.42% Zr2O113.0m ‐ 139.7m: 27m @ 0.28% TREO, 61.3% HREO, 1.17% Zr2O
NKA09009 22.4m ‐ 44.7m: 22m @ 0.25% TREO, 63.6% HREO, 1.27% Zr2O
SECTION C NKA09019 85.5m ‐ 149.5m: 64.0m @ 0.47 % TREO, 63.6 % HREO, 2.32 % Zr2ONKA09020 31.2m ‐ 149.4m: 118.1m @ 0.39 % TREO, 64.2 % HREO, 2.22 % Zr2ONKA09021 1.6m ‐ 139.6m: 138.0m @ 0.44 % TREO, 62.3 % HREO, 2.03 % Zr2ONKA09022 0.6m ‐ 86.0m: 85.4m @ 0.31 % TREO, 62.6 % HREO, 1.70 % Zr2ONKA09023 3.9m ‐ 39.9m: 36.0m @ 0.30 % TREO, 62.2 % HREO, 1.51 % Zr2O
SECTION D NKA09001 0.8m ‐ 40.6m: 39.80m @ 0.34% TREO, 56.2% HREO, 1.36% Zr2ONKA09002 0.5m ‐ 113.6m: 113.1m @ 0.42% TREO, 57.6% HREO, 1.57% Zr2ONKA09003 3.0m ‐ 146.1m: 143.1m @ 0.47% TREO, 49.5% HREO, 1.38% Zr2ONKA09004 2.5m ‐ 151.8m: 149.3m @ 0.61% TREO, 45.8% HREO, 1.69% Zr2ONKA09005 8.5m ‐ 152.1m: 149.3m @ 0.65% TREO, 55.7% HREO, 2.1% Zr2ONKA09006 75.5m ‐ 150.4m: 74.9m @ 0.48% TREO, 60.4% HREO, 1.82% Zr2ONKA09014 2.6m ‐ 106.2m: 103.6m @ 0.60% TREO, 54.2% HREO, 1.81% Zr2O
SECTION E NKA09016 2.3m ‐ 21.9m: 19.4m @ 0.39 % TREO, 43.6% HREO, 1.26% Zr2O52.4m ‐ 149.7m: 97.3m @ 0.50 % TREO, 50.3 % HREO, 1.43 % Zr2O
NKA09017 24 6 78 3 53 7 @ 0 44 % TREO 52 3 % HREO 1 36 % Z 2O
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NKA09017 24.6m ‐ 78.3m: 53.7m @ 0.44 % TREO, 52.3 % HREO, 1.36 % Zr2ONKA09018 2.7m ‐ 28.25m: 25.6m @ 0.36 % TREO, 50.7 % HREO, 1.25 % Zr2ONKA09024 2.9m ‐ 51.3m: 48.4m @ 0.51 % TREO, 40.3 % HREO, 1.34 % Zr2O
116.4m ‐ 140.9m: 24.5m @ 0.44 % TREO, 43.7 % HREO, 1.25 % Zr2ONKA09025 2.5m ‐ 22.6m: 20.1m @ 0.25 % TREO, 63.3 % HREO, 1.18 % Zr2O
32.3m ‐ 123.8m: 91.5m @ 0.53 % TREO, 44.6 % HREO, 1.41 % Zr2O
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SECTION F NKA09010 4.4m ‐ 66.5m: 62.1m @ 0.81% TREO, 56.0% HREO, 1.72% Zr2ONKA09011 11.8m ‐ 19.5m: 7.7m @ 0.66% TREO, 51.8% HREO, 1.51% Zr2O3
28.2m ‐ 132.9m: 104.7m @ 0.67% TREO, 58.7% HREO, 2.1% Zr2O3NKA09012 43.6m ‐ 88.8m: 45.2m @ 0.44% TREO, 60.8% HREO, 1.72% Zr2O
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103.5m ‐ 121.7m: 18.2m @ 0.57% TREO, 47.4% HREO, 1.47% Zr2O129.1m ‐ 152.5m: 23.4m @ 0.34% TREO, 61.1% HREO, 2.11% Zr2O
NKA09013 125.6m ‐ 135.6m: 10m @ 0.31% TREO, 48.6% HREO%, 0.88% Zr2ONKA09015 5.9m ‐ 24.0m: 18.1m @ 0.67 % TREO, 54.1% HREO, 1.56% Zr2O
200 m
Norra Norra KärrKärr –– Metal DistributionMetal Distribution32
NKA0905 NKA0910 NKA0911 NKA0901 NKA0902 NKA0903 NKA0904% % % % % % %
From 8.4m 4.4 m 28.2 m 0.8 m 0.5 m 3 m 2.6 mTo 152.0m 66.5 m 132.9 m 40.6 m 113.6 m 146.1 m 151.8 mInterval 143.6m 62.1 m 104.7 m 39.8 m 113.6 m 143.1 m 149.3 mTREO 0.65 0.81 0.67 0.34 0.42 0.47 0.61H% 55.7 55.9 58.7 56.2 57.6 49.4 45.8
La2O3 554 8.6 715 8.9 548 8.2 319 9.4 367 8.8 524 11.1 659 10.8Ce2O3 1369 21.2 1564 19.4 1210 18.1 662 19.6 800 19.2 1112 23.6 1489 24.5Pr2O3 168 2.6 204 2.5 154 2.3 94 2.8 103 2.5 148 3.2 201 3.3Nd2O3 689 10.7 834 10.3 658 9.9 358 10.6 425 10.2 542 11.5 752 12.4Sm2O3 192 3.0 240 3.0 196 2.9 96 2.9 117 2.8 132 2.8 185 3.0
E 2O3 26 0 4 33 0 4 27 0 4 14 0 4 17 0 4 18 0 4 24 0 4Eu2O3 26 0.4 33 0.4 27 0.4 14 0.4 17 0.4 18 0.4 24 0.4Gd2O3 216 3.3 276 3.4 217 3.2 112 3.3 141 3.4 144 3.1 198 3.3Tb2O3 42 0.6 59 0.7 48 0.7 25 0.7 30 0.7 30 0.6 38 0.6Dy2O3 294 4.5 410 5.1 352 5.3 176 5.2 216 5.2 208 4.4 253 4.2Ho2O3 60 0.9 91 1.1 80 1.2 43 1.3 51 1.2 48 1.0 55 0.9E 2O3 199 3 1 267 3 3 254 3 8 134 4 0 161 3 9 147 3 1 166 2 7
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Er2O3 199 3.1 267 3.3 254 3.8 134 4.0 161 3.9 147 3.1 166 2.7Tm2O3 28 0.4 40 0.5 39 0.6 22 0.6 25 0.6 24 0.5 25 0.4Yb2O3 182 2.8 252 3.1 239 3.6 131 3.9 150 3.6 144 3.1 153 2.5Lu2O3 23 0.4 33 0.4 32 0.5 18 0.5 20 0.5 20 0.4 21 0.3Y2O3 2423 37.5 3057 37.9 2620 39.3 1178 34.8 1548 37.1 1466 31.2 1865 30.7
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ZrO2 2.08 1.72 2.07 1.35 1.26 1.50 1.69Hf_ppm 301 278 338 259 263 260 265Nb_ppm 442 649 598 234 326 299 400Ga_ppm 94 82 76 80 76 96 107
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Th_ppm 6 6 7 18 5 8 7U_ppm 12 8 9 9 6 13 16
Spring 2011 Drilling ProgramSpring 2011 Drilling Program33
Section B
Section BC
Section C
• increase the resource size with down dip drilling
Section CD
• increase the confidence with infill drilling
Section D
Section DE
• many assays awaited
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Section ECompleted DDH:songoing program
R i i DDH
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Section EF
Section F
Remaining DDH:sOngoing program
DDH:s earlier drill-program
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Section FG
0 200m
Norra Norra KärrKärr –– Metallurgical ProgressMetallurgical Progress34
Dubbo could hold key for eudialyte deposits(Thursday 22 April 2010 – MiningNewsNet by Tania Winter)
Advancement made at similar deposits – Tasman work well under way
(Thursday, 22 April 2010 – MiningNewsNet by Tania Winter) A RENOWNED rare earths specialist believes work being undertaken by Alkane Resources on its Dubbo zirconia project in New South Wales could hold the key to treating the world’s eudialyte deposits and open up a new source for heavy lanthanides (REE’s).
Matamec Successfully Recovered REE‐Y‐Zr from Eudialyte Concentrates from the Kipawa Deposit2010‐08‐09: Matamec is pleased to announce that the Matamec research doing metallurgical testwork has successfully recovered rare earth,2010 08 09: Matamec is pleased to announce that the Matamec research doing metallurgical testwork has successfully recovered rare earth, yttrium and zirconium values from eudialyte concentrates originating at its Zeus property. This is a significant result because REE‐Y‐Zr were considered very difficult to recover from eudialyte due to the formation of a silica gel in the leaching step during processing.
Matamec Successfully Leaches 89.2% of the Rare Earths From Eudialyte Zone of the Kipawa Deposit2010‐10‐18: Matamec Explorations Inc. ("Matamec" or the "Company") (tsx venture:MAT) is pleased to report improved rare earth leach
Tasman to using SGS Lakefield Due i
p ( p y ) ( ) p p precoveries from a sample collected at its REE‐Y Kipawa deposit. Whole rock material from the Eudialyte zone was processed at SGS Lakefield Research yielding rare earth leach recoveries of 89.2%. The heavy rare earth yield was 85.6%.
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SGS can assist in.....
• Mineralogical analysesMi l i
to Current Experience
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– Plant tests• Basic engineering
Norra Norra KärrKärr –– Mineralogical StudyMineralogical Study35
Combined
2315.560
Tasman Comp
Tasman Metals Ltd12565-001 / MI5008-DEC10
-20um-106/+75um+150um26.1
9
-75/+20um28.329
-150/+106um10.684
19.6133
Mass Size Distribution (%)Particle Size
SurveyProjectSampleFraction
COARSE FINE
Sample Sample Fraction Sample Fraction Sample Fraction Sample Fraction Sample FractionEudialyte 6.2 1.0 5.0 0.6 5.8 1.0 6.2 1.7 6.2 1.9 7.3Catapleiite 3.6 0.6 3.3 0.3 2.9 0.5 3.0 1.0 3.4 1.2 4.7Zircon 0.6 0.1 0.4 0.0 0.3 0.1 0.4 0.1 0.4 0.3 1.3REE Silicates-Carbonates 0.2 0.0 0.2 0.0 0.2 0.0 0.2 0.1 0.2 0.1 0.3Quartz 0.2 0.0 0.1 0.0 0.2 0.0 0.1 0.1 0.2 0.1 0.5Nepheline/Microcline 29.9 7.6 38.6 3.5 32.9 4.6 29.7 7.3 25.9 7.0 26.7Mi l M
REE’S
Nepheline/Microcline 29.9 7.6 38.6 3.5 32.9 4.6 29.7 7.3 25.9 7.0 26.7Na-Al Silicates 34.4 6.4 32.9 3.6 33.6 5.5 35.8 9.9 35.0 8.9 34.2Clinopyroxene 23.0 3.6 18.3 2.4 22.8 3.6 23.4 7.7 27.1 5.7 22.0Other Silicates 0.9 0.2 0.8 0.1 0.7 0.1 0.7 0.2 0.8 0.3 1.1Oxides 0.3 0.0 0.1 0.0 0.1 0.0 0.1 0.1 0.2 0.2 0.8Carbonates 0.4 0.0 0.2 0.0 0.3 0.0 0.3 0.1 0.4 0.2 0.8Other 0.2 0.0 0.1 0.0 0.2 0.0 0.2 0.1 0.2 0.0 0.1T t l 100 0 19 6 100 0 10 6 100 0 15 5 100 0 28 3 100 0 26 1 100 0
Mineral Mass (%)
Total 100.0 19.6 100.0 10.6 100.0 15.5 100.0 28.3 100.0 26.1 100.0EudialyteCatapleiiteZirconREE Silicates-CarbonatesQuartzNepheline/Microcline
653
8
8
7
23
24261297
474315149
43
5218151856
57
1273
65
Mean Grain Size by
642017
AVL
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pNa-Al SilicatesClinopyroxeneOther SilicatesOxidesCarbonatesOther
6
885
914 7
6
25268
35 20
46121722
141525
47
35
5856
16182234
6863
Frequency (µm)
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QEMSCANTM method rapidly classifies minerals in a crushed sample, showing % of each phase. Here, coarse to fine fractions have been classified separately to show grinding
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variations. In total representative sample, we see 4.3% eudialyte, 2.5% catapleiite, 0.6% zircon. Equivalent data for Thor Lake shown for comparison.
Norra Norra KärrKärr –– Metal Distribution/Deportment StudyMetal Distribution/Deportment Study36
Eudialytewt% SiO2 ZrO2 Al2O3 Y2O3 Nb2O3 La2O3 Ce2O3 CaO MnO FeO Na2O K2O Cl Total
Average 52.37 12.41 0.29 2.74 0.75 0.68 1.57 7.45 2.79 2.32 2.22 0.44 0.38 86.37Min 48 53 11 35 0 21 1 47 0 40 0 40 0 86 5 79 2 03 1 13 0 51 0 15 0 28 84 40Min 48.53 11.35 0.21 1.47 0.40 0.40 0.86 5.79 2.03 1.13 0.51 0.15 0.28 84.40Max 55.39 14.11 0.40 3.55 1.26 1.18 2.62 8.68 5.03 3.38 8.81 0.81 0.48 89.39
CatapleiiteAverage 39.30 36.05 0.94 3.42 0.38 0.07 1.27 5.79 0.33 0.15 1.11 0.02 0.02 88.83
Min 29.25 32.36 0.00 0.00 0.00 0.00 0.01 0.99 0.00 0.00 0.00 0.00 0.00 84.39Max 49 54 39 30 2 67 8 68 1 22 0 14 3 85 16 60 1 26 0 42 4 55 0 04 0 04 95 69
Elemental Deportment (Mass % Zr) Tasman Comp
Max 49.54 39.30 2.67 8.68 1.22 0.14 3.85 16.60 1.26 0.42 4.55 0.04 0.04 95.69
Yttrium is a good proxy for HREE distribution. Data shows good
60 0
70.0
80.0
90.0
100.0Zr
)concentration into eudialyte.
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20.0
30.0
40.0
50.0
60.0
Mas
s (%
Z
86% of Zr is held within eudialyte or catapleiite
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0.0
10.0
REE Silicates-Carbonates 1.2 1.3 1.3 1.4 1.4 0.8
Zircon 12.9 9.1 7.1 7.3 9.0 20.7
Combined +150um -150/+106um -106/+75um -75/+20um -20um
or catapleiite.
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Catapleiite 53.9 58.7 54.0 53.1 54.9 51.3
Eudialyte 32.0 30.9 37.6 38.2 34.7 27.2
Norra Norra KärrKärr –– Liberation BehaviorLiberation Behavior37
BackgroundEudialyteCatapleiiteZirconREE Silicates-CarbonatesQuartzNepheline/MicroclineNa-Al SilicatesClinopyroxeneOther SilicatesOxidesCarbonatesOther
79% of Zr
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silicates were well liberated
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Zr Silicate Exposure % (Normalized)
100%
Norra Norra KärrKärr –– Mineral ExposureMineral Exposure38
60%
80%
Silic
ate)
High degree of exposure allows for efficient
20%
40%
Mas
s (%
Zr-S High degree of exposure allows for efficient
chemical attack on target minerals
0%
Locked 0.4 0.3 0.2 0.1 0.0
<10% Exposed 3.6 2.1 1.2 0.7 2.2
>10% Exposed 5 5 2 9 2 2 1 2 0 7
+150um -150/+106um -106/+75um -75/+20um -20um
>10% Exposed 5.5 2.9 2.2 1.2 0.7
>20% Exposed 6.1 4.0 2.3 1.3 0.9
>30% Exposed 7.2 4.6 3.6 1.7 0.9
>40% Exposed 8.1 5.3 4.2 2.3 1.6
>50% Exposed 7.2 6.3 2.9 1.7 0.7
>60% Exposed 9.4 5.1 5.5 3.2 1.6
>70% Exposed 5 8 7 4 7 7 6 8 5 7
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>70% Exposed 5.8 7.4 7.7 6.8 5.7
>80% Exposed 11.5 13.0 21.0 18.0 11.0
>90% Exposed 35.0 49.1 49.3 63.1 74.8BECZRQNNCOOCom
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Norra Norra KärrKärr Processing ScenarioProcessing Scenario39
Mining 3000 tpdOpen pit, no waste
rockCrushing
Grinding
ConcentrateFlotation
Heavy media 2000 tpdConcentrate Preparation
Heavy mediaElectrostatic
MagneticGravity
pTailings
Transport 90km to port + seaborne
Cracking REE MineralsAcid
Heat
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Leaching
Solid / Liquid Tailings
Water
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P ifi ti Precipitation or
Tailings
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Purification pSolvent ExtractionDy, Y, Zr, Hf, Nd +/- .....
Norra Norra KärrKärr –– Peer ReviewPeer Review40
Deposit Company Status Contained T HREO M Tonnes TREO% HREO% $/T OREKangankunde LYC Inf 759 2 53 4 23 0 7 3 339
Advanced REE projects, sorted by contained tonnes of Heavy REO
Kangankunde LYC Inf 759 2.53 4.23 0.7 3,339Steenkampskraal GWG Hist 2,246 0.25 11.65 7.7 9,511Hoidas Lake GWG M+Ind+Inf 2,563 2.85 2.40 3.8 2,044Cummins Range NAV Inf 2,919 4.17 1.71 4.1 1,403
id d fEco Ridge GEM Ind+Inf 5,218 47.43 0.14 7.9 116Sarfartoq HUD Inf 5,623 14.06 1.53 2.6 1,249Mountain Pass MCP M+Ind+Inf 9,466 31.55 6.55 0.5 5,056Bokan UCU Inf 10,530 3.67 0.75 38.5 703Bear Lodge RES Inf 17,463 15.88 3.45 3.2 2,803Nolans Bore ARU M+Ind+Inf 27,180 30.20 2.80 3.2 2,370Kutessay II RUU Inf 28,800 18.00 0.33 48.5 384Zeus (Kipawa) MAT Ind+Inf 50 970 50 97 0 25 40 0 211
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Zeus (Kipawa) MAT Ind+Inf 50,970 50.97 0.25 40.0 211Zandkopsdrift FRO Inf 69,968 43.73 2.16 7.4 1,824Mt Weld LYC M+Ind+Inf 73,475 17.49 8.07 5.2 6,816Eldor CCE Inf 104,433 117.34 1.74 5.1 1,457
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Nechalacho AVL Ind+Inf 661,518 315.01 1.36 15.4 1,219
Modified from Technology Metals Research, pricing as at Feb 2011
Norra Norra KärrKärr –– Project Timing and MilestonesProject Timing and Milestones41
2010 2011 2013 2014 20152012 2016
Discovery
Resource
Metallurgy
Scoping
Permitting
gy
Pre-Feasibility
Permitting
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Feasibility
Engineering
AMEX LIST
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Construction
Production
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TECHNICAL RISK FINANCIAL RISK
Norra Norra KärrKärr –– Summary CommentsSummary Comments42
Unique In Europe
Excellent Infrastructure, Close To Operating Ports
Mineralized From Surface, 0 Strip For 10 Years
Thick Intersections Of Mineralization, Open At Depth, p p
REE’s Appear To Be In Few Minerals
High % Of HREO, >50%
High % Of Dy And Y – Metals In Demand
High Grade Zr, Hf ‐ Potential Valuable By Products
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REE Refiners In The Local Area, Within EU
Low Radioactivity
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No Sulphide – No Disposal Issues
Potential Support From EU For Fast Tracking
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Local Skilled Communities And Mining Sectors
OtanmäkiOtanmäki ((Finland)Finland) –– PeralkalinePeralkaline Intrusion Intrusion 43
Two projects claimed in the Otamäki district of Finland, covering REE‐Nb‐Ta‐Zr peralkaline intrusion associated mineralization;
Projects were explored in the 1980’s by specialty metals group Rautaruukki Oy. Total drilling across projects exceeds 60 holes for more than 10,000 metres;
Two projects with historic Setting of the Katajakanka project (Google Earth)
resources have been claimed by Tasman:Katajakankas: Historic resource of
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Katajakankas: Historic resource of 0.46Mt @ 2.4% REE, 0.31% Y2O3, 0.76% Nb2O5, 1.1% ZrO2 from 150
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Kontioaho: Historic resource 4Mt @ 0 52% REE 0 16% Y O 0 12%
Tailings dam of former Otamäki Fe‐V mine
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@ 0.52% REE, 0.16% Y2O3, 0.12% Nb2O5, 2.8% ZrO2 from 250m. 3 km
OtanmäkiOtanmäki ((Finland)Finland) –– PeralkalinePeralkaline Intrusion Intrusion 44
Katajakangas
Better drill intersections include:R‐14: 1.40m @ 2.95% TREO, 0.87% Nb2O5 , 1.28% ZrO2
from 57.4m;R‐19: 0.60m @ 3.60% TREO, 1.01% Nb2O5 , 0.98% ZrO2
from 79.0m;R‐20: 0.80m @ 2.93% TREO, 0.86% Nb2O5 , 1.01% ZrO2
2 km
from 121.6m;
KontioahoBetter drill intersections included:Better drill intersections included:R‐9: 6.90m @ 0.65% TREO, 0.10% Nb2O5 , 3.39% ZrO2
from 3.4m;R‐4: 12.00m @ 0.51% TREO, 0.09% Nb2O5 , 2.45% ZrO2
from 79 8m;
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from 79.8m;R‐3: 11.30m @ 0.64% TREO, 0.15% Nb2O5 , 2.33% ZrO2 ,
from 188.2m;
Principal REE minerals are allanite, fergusonite and xenotime.
Thorium Radiometrics
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La2O3ppm
Pr2O3ppm
Nd2O3ppm
Sm2O3ppm
Eu2O3ppm
Y2O3ppm
ZrO2%
Nb2O5ppm
Ta2O5ppm
Hfppm
Maximum 7,546 2,047 7,312 1,461 221 4,889 2.97 16,730 659 1,120
Average of 44 boulders
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Minimum 1,591 479 1,591 290 12 1,539 0.87 2,517 183 310
Average 4,653 1,305 4,450 885 78 3,329 1.48 9,078 421 530
Korsnas (Finland) Korsnas (Finland) –– Historic REE MineHistoric REE Mine45
Tasman’s Korsnas project surrounds former Pb‐REE mine of Korsnas in central western Finland;
Claims Applications at Korsnas with drill holes
Korsnas in central western Finland;
Historic production of 0.9 Mt @ 3.56% Pb, 0.83% TREO from carbonatite veins comprised of coarse‐grained calcite, feldspar,coarse grained calcite, feldspar, diopside, REE‐bearing apatite, scapolite, fluorite and barite, each
id
Korsnas Mine and Plant
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up to 20m wide;
Host rocks to mineralization are
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A substantial drill hole database
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A substantial drill hole database exists for the project.
1 km
Särna Särna –– PeralkalinePeralkaline Igneous Associated Igneous Associated -- SwedenSweden46
Peralkaline igneous intrusion exposed in a window through younger cover rocks. The exposed area is 3 km by 4 km, interpreted to be larger at depth. Associated with REE bearing peralkaline intrusions of the Oslo Rift ;
The intrusion lies in forestry land in central western
dSweden ;
Early stage project that has
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not been sampled for REE’s. Minerals discovered at site include allanite and apatite
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intrusions.1 km
Tasman Metals Ltd Tasman Metals Ltd -- Key Value DriversKey Value Drivers47
Tasman has 100% ownership of a strong portfolio of REE projects forstrategic metals in a well‐mineralized European terrain. TheS di i REE f li i bi i f i i
The EU is actively supporting the domestic supply of strategic
Scandinavian REE portfolio presents a unique combination of positivefactors that will define the future value of the Company:
The EU is actively supporting the domestic supply of strategic metals to secure their high‐tech industry;
Tasman’s project portfolio lies in mining friendly jurisdictions with strong transparent Mining Law;
Existing infrastructure is “second to none”, with full road/power/water networks and a skilled workforce;
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road/power/water networks and a skilled workforce;
Norra Kärr, the Company’s flag ship property demonstrates a significant open pittable inferred resource, a high Dy, Y, Tb %,
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The Tasman team has extensive operating experience in the Scandinavian district, to bring projects forward effectively.
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Scandinavian district, to bring projects forward effectively.
TASMANTASMANTASMANMETALS LIMITED
CORPORATE OFFICE FOR MORE INFORMATION
Suite 13051090 West Georgia St
Vancouver BC V6E 3V7
CORPORATE OFFICE FOR MORE INFORMATION
Mark SaxonPresident & CEO
Vancouver, BC V6E 3V7 CANADA
Ph: +1 (604) 685 9316 Fax: +1 (604) 683 1585
om i i i C
Fax: +1 (604) 683 1585
INVESTOR RELATIONS
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Nick Nicolaas 1 (604) 657 4058
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+1 (604) 657 4058 [email protected]
Appendix 1 Appendix 1 -- AbbreviationsAbbreviations
REE = rare earth elements, lanthanum to lutetium by atomic weight plus yttrium
LREE = light rare earth elements, lanthanum to samarium by atomic weight
HREE = heavy rare earth elements, europium to lutetium plus yttriump y
TREO = rare earth elements, calculated as oxides, including lanthanum to lutetium plus yttrium
om
including lanthanum to lutetium plus yttrium
HREO = heavy rare earth elements, as per HREE above, calculated as oxides
man
met
als.
co calculated as oxides
LREO = light rare earth elements, as per LREE above, l l t d id
ww
w.ta
sm
MAR 2011
calculated as oxides
Appendix 2 Appendix 2 –– Strategic Metals and UsageStrategic Metals and Usageom
man
met
als.
cow
ww
.tasm
MAR 2011