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Alan De’ath
President and CEO |
Welcome to Ivernia. Thank you for
taking the time to find out more about our company and
discover why Ivernia makes a solid investment choice.
The World’s Most Significant
Pure Lead Mine
Ivernia is the only significant pure lead producer in
the world. This is due to the unique nature of the
Magellan deposits which host only lead. These deposits
are located very close to the surface making them easily
accessible and adding to the inherent strength of the
operation. The mine is located in the mineral-rich east
Murchison mineral field in Western Australia,
approximately 30 kilometres west of Wiluna and 900
kilometres northeast of Perth.
Magellan
The Magellan mine was placed on care and maintenance in
early 2007 as the Company sought approval to export
through the Port of Fremantle. Final Western Australian
Government approval was received in August 2009. Plans
are now underway for a re-start of the Magellan mine in
early 2010. Magellan will re-emerge as a stronger
operation with an industry-leading method for
transporting its product in sealed shipments, a
strengthened management team and a commitment to
fulfilling its promises to stakeholders. Ivernia firmly
believes the twin commitments – to ensure the highest
levels of social and environment responsibility and to
enhance shareholder value – complement each other and
are fundamental to the way Ivernia conducts its
business.
A Unique Position in the
Industry
On the restart and achievement of target production,
Magellan is expected to account for approximately 2% of
the world’s lead mine production. For a company the size
of Ivernia, this is indeed a unique position.
Favourable Long-term
Fundamentals for Lead
Ivernia’s re-emergence as a significant lead producer
will come at an interesting time in the industry. It
coincides with the impact of many decades of
under-investment in exploration and development for lead
and growing demand for the metal. Over the past five
years, global lead demand has increased by over 330,000
tonnes per year, the result of growing demand for
lead-acid batteries to power motor vehicles and E-bikes,
and provide emergency power for the world’s computer and
telecommunications networks – particularly in China and
other developing countries.
Growth in Base Metals
Magellan means a lot to the future of Ivernia. It
confirms that our team is capable of successfully
acquiring, financing, developing and operating a
world-class mine. Longer term, it provides us with the
strong foundation and healthy cash flow required to grow
our business in base metals.
An Exciting Future
We have work to do before Magellan gets back into
production – and we are focused on getting it done. The
experience that began with news of the pollution at
Esperance has been difficult; it has influenced every
decision we have made subsequently regarding our
go-forward operations – and we believe it makes us a
stronger company on many levels. There is no denying
that the business of lead production has legacy issues
to overcome but we hope that through our actions to
safely manage production, the development of a best
practice sealed shipment process for the safe handling and
transport of this
naturally occurring element, our industry’s reputation
will be enhanced and we will ultimately be seen as a
leader in the industry.
Stay Informed on Ivernia
Thank you for your interest in Ivernia. I encourage you
to sign up for the e-mail notification of our news
releases as they are issued to ensure that you will be
fully informed of our progress going forward. The
sign-up request can be found under the Investors section
of this site.
Sincerely,
Alan De’ath
President and CEO
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