Title: Platinum Exploration
1 Platinum Exploration
Agricola Resources plc
2- Agricola Resources is involved
- in platinum exploration and
- development
- New Management Team
- Trading on OFEX AGC
- Exploration to commence
- in Shetland, Sweden and
- Northern Ireland
3- Directors
- Robert Young Executive Chairman
- Aged 59, he holds a first class honours degree in
geology and chemistry, a MSc in Mineral
Exploration and Mining Geology and a PhD in
geochemistry. He has over 30 years of varied
experience in the mining industry in Europe and
South East Asia. Positions held included director
of Minerex Limited (Ireland), chief metals
geologist for Shell Metals (Indonesia) and
founding Managing Director of Cambridge Mineral
Resources PLC and Angus Ross PLC. - Richard Newstone Finance Director and
Company Secretary - Aged 54, he is a Chartered Accountant in public
practice. He has previous management experience
of coal mining in Scotland and in the past also
worked on taxation aspects of the North Sea Oil
Industry. - Gavin Burnell Non Executive Director
- Aged 26, he has worked within the smaller-cap
equities market, particularly OFEX, for the last
four and half years. He acts as a consultant to
Ruegg Co. Limited which has won OFEX Corporate
Advisor of the Year for the last two years. He is
also Managing Director of Woodland Capital
Limited, an investment company specialising in
investments in smaller companies, both private
and public. - Gavin has good experience of the small cap sector
both in advising companies, structuring
fundraisings and raising finance and an excellent
knowledge of the OFEX market and its mechanics.
Mr Burnell will be a great asset in assisting the
Company to achieve its development plans.
4- Corporate Advisor
- Ruegg Co Limited
- 39 Cheval Place
- London SW7 1EW
- Operating Office
- 1 Green Hill
- Little Thetford
- Ely, Cambs, CB6 3HD
- Website
- www.agricolaresources.com
- Company Number
- 4018807
5- Issued Share Capital
- 68,403,137 Ordinary Shares at 1p
- Warrants
- 26,879,240 at a price of 1p per share
- allotted any time until 31st October 2005
- Major Shareholdings
- B.Rowan 24.24
- T. Anderson 14.62
- Resources
- Investment
- Trust plc - 11.94
6Platinum and Palladium Market
- In 2003 the platinum market remained in deficit
for the fifth consecutive year, due to the large
usage of autocatalysts in the automotive
industry. - This has resulted in the price of platinum
doubling since January 2000. The continuing
market deficit has driven the price up to US 850
per oz in February 2004. - The outlook for platinum remains sound. The
automotive and jewellery sectors remain the
pillars of the market. Automotive usage will grow
due to stricter emission standards worldwide and
increasing diesel vehicle sales. The return of
economic growth worldwide will also bolster
platinum use. - Platinum (Pt) is one of a group of six precious
metals known as the platinum group elements
(PGE), which also includes palladium (Pd),
rhodium Rd), iridium (Ir), ruthenium (Ru) and
osmium (Os). - Auto industry demand for palladium is expected to
increase in 2004
7Platinum price chart - US
8Palladium price chart - US
9- Shetlands
- On the 26th February 2004 Agricola signed an
option agreement with Beowulf Gold PLC to acquire
its interest in the agreement with Sandisons for
acquiring exclusive exploration rights for a
Platinum Group Elements (PGE) property in the
Shetland Islands, Scotland. - The Sandison Property, covers about 8 square
miles on the Island of Unst, the most northerly
inhabited island in the British Isles. - If Agricola exercises the option with Beowulf it
will pay 7.5 million Agricola shares and will
agree to pay a US1.0 per ounce royalty on any
platinum production from the property
10 Platinum Exploration on the Isle of Unst
Agricola Resources plc
11? Unst
12The Isle of Unst
?Baltasound
Exploration area
13? Baltasound
14Unst, principle ophiolitic rocks
Mineralogy
Dunite a peridotite consisting almost wholly of
olivine and containing accessory pyroxene and
chromite Harzburgite a peridotite composed of
olivine and subordinate orthopyroxene with
accessory opaque oxides Wehrlite a peridotite
comprising olivine and diopsidic clinopyroxene
Gabbro a pyroxene gabbro altered to a mixture
of actinolite, after pyroxene, and saussuritised
plagioclase
15 The Baltasound area
Quoys
Loch of Cliff
Talc on basal thrust
Basement Metasediments
Talc on basal thrust
Weherlite
Harolds Wick
Harolds Grave
Cliff
Crussa Field
The Heogs
basal thrust
Dunite
Nikka Vord
Harzburgite with Dunite pods
Chromite quarries
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18 19 The Baltasound area
Quoys
Loch of Cliff
Talc on basal thrust
Basement Metasediments
Talc on basal thrust
Weherlite
Harolds Wick
Harolds Grave
Cliff
Crussa Field
The Heogs
basal thrust
Dunite
Nikka Vord
Harzburgite with Dunite pods
Chromite quarries
20Eastern type Mineralisation
PGE enrichment which is Os, Ir, Ru dominant. This
has a magmatic signature with a higher
temperature phase, not dissimilar to PGE patterns
which are associated with ophiolite complexes,
worldwide. This mineralisation is associated
with chromites from several quarries in the
central and eastern parts of the Baltasound area
and is best developed at a location known as
Harolds Grave quarry.
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22Western type Mineralisation
(Positive slope)
Eastern type Mineralisation
(Negative slope)
Diagram courtesy of the British Geological Survey
23 The Baltasound area
Quoys
Loch of Cliff
Talc on basal thrust
Basement Metasediments
Talc on basal thrust
Weherlite
Harolds Wick
Harolds Grave
Cliff
Crussa Field
The Heogs
basal thrust
Dunite
Nikka Vord
Harzburgite with Dunite pods
Chromite quarries
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25Sweden
- Large geological potential
- Underexplored prospective ground
- Modern mineral legislation
- Excellent infrastructure
- Political and economic stability
- Long history of mining
- Good information service
- Skilled and productive workforce
- No royalties, 23 corporate tax
26Sweden Mafic intrusions anomalous in PGE Au
2721g/t Platinum at outcrop
KläppsjÖ mafic intrusion
28Ireland
- The Governments of both Northern Ireland and
the Republic of Ireland are firmly committed to
encouraging exploration and development in an
environmentally friendly manner - Tyrone Igneous Complex
- Prospective for ophiolite-
- related Platinum Group
- Minerals
29Geological Map Of Ireland
30The Future
- The Directors will work hard to increase the
shareholder value of the Company through 2004 and
beyond. - The OFEX Market will be open to four market
makers in the third quarter of 2004 - J. P. Jenkins Ltd.
- Teather Greenwood
- Hoodless Brennan
- Winterflood
- This will make OFEX open to institutional
investors and thus it will become more dynamic. - If institutional investment is not forthcoming on
OFEX, Agricola Resources PLC will apply to the
AIM Market of the London Stock Exchange.