The 3rd annual Resources & Energy Investment Symposium (REIS) is on 19-22 May, once again held in the unique city of Broken Hill; Last year’s event exceeded the expectations of all that attended - including over 350 delegates, 12 keynote speakers and more than 30 resource companies presenting their investment opportunities. A focus for this year’s symposium will be on the current economic climate including its challenges and opportunities, not only in the Australian resources industry, but Australia’s position in the international market.

1. Cobalt – 2011 Supply Source
‘World class’
cobalt/pyrite deposits
near Broken Hill
Pyrite could fuel the future Broken Hill
Sulphuric acid
Cobalt
Energy
Hematite Cinder
Ceramics
Dr Ian Pringle
Managing Director
20 May, 2013
Broken Hill Prospecting Limited
(ASX:BPL)

2. Disclaimer This presentation contains forward-looking statements that involve subjective judgement and analysis and accordingly,
are subject to significant uncertainties and risks, many of which are outside the control of, and are unknown to, Broken Hill
Prospecting Pty Ltd ( “BPL”). In such circumstances, the forward-looking statements can be identified by the use of forward-looking
words such as “may”, “will”, “expect”, “intend”, “seek”, “estimate”, “believe”, “continue” or other similar words.
No representation, warranty or assurance is given or made in relation to any forward-looking statement by BPL or it’s representatives,
In addition, no representation, warranty or assurance is given in relation to any underlying assumption or that any forward-looking
statements will be achieved. Actual future events may vary materially from the forward-looking statements and the assumptions on
which the forward-looking statements are based. Accordingly, presentation readers are cautioned not to place undue reliance on
such forward-looking statements as a result of the uncertainties.
In particular, BPL wishes to caution readers that these forward-looking statements are based on economic predictions and
assumptions on reserves, mining method, production rates, metal prices and costs (both capital and operating) developed by BPL
management in conjunction with consultants.
This presentation and the forward-looking statements made in this presentation, speak only as of the date of the presentation.
Accordingly, subject to any continuing obligations under the Corporations Act and the New Zealand and Australian Stock Exchange
Listing Rules, BPL disclaims any obligation or undertaking to publicly update or revise any of the forward-looking statements in this
presentation, whether as a result of new information, or any change in events, conditions or circumstances on which any such
statements is based.
The exploration target and potential being reported under Section 18 of the JORC Code is based on assessments of prospects within
BPL’s tenure which are supported by drilling, geophysics, geological studies, imagery analysis, metallurgical test-work and
preliminary modelling. However, the potential quantity and grade is conceptual in nature, there has been insufficient exploration to
define a Mineral Resource and it is uncertain if further exploration will result in discovery of a Mineral Resource.
Competent Person Statement The review of exploration activities and results contained in this report is based on information
compiled by Dr Ian Pringle, a Member of the Australasian Institute of Mining and Metallurgy. Dr Pringle is the Managing Director of
Broken Hill Prospecting Pty Ltd and also a Director of Ian J Pringle & Associates Pty Ltd, a consultancy company in minerals
exploration. He has sufficient experience which is relevant to the style of mineralization and types of deposits under consideration and
to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Dr Pringle has consented to the
inclusion in this report of the matters based on his information in the form and context in which it appears.
。
IMPORTANT NOTICES

3. Location - important for future development
 Located 25km SW of Broken Hill in
western NSW
 Main highway to Adelaide cuts the
northern part of the project
 Main railway beside the deposits
 Exploration license (EL6622) and
two mining leases (ML86, ML87)
 Geophysics (IP survey) and Pyrite
Hill resource confirmation drilling
completed in late 2011
 Drilling in 2012 & 2013 intersected
spectacular zones of cobalt
mineralisation NE of Big Hill
 The Railway Prospect is a new and
very large deposit which will likely
become a significant world cobalt
and sulphuric acid producer
Pinnacles mine

4. Project Geology – Co in surface deposits
PYRITE HILL
Inf Res; 16.4Mt at 1.83lb/t Co
(plus 14-24Mt potential)
BIG HILL
Inf Res; 4.4Mt
at 2.00lb/t Co
(open to NE &
at depth)
RAILWAY
Inf Res; 14.9Mt at 1.83lb/t Co
(plus 23-35Mt potential)
View on next slide

5. No residence within >10km, limited land use Environmental impacts are manageable
Already has MLs (and EL) Excellent future mine site location
Very well located to rail and road …………. View towards EAST
Railway
Cobalt
Deposit
Offset
Cobalt
Deposit
Big Hill
Cobalt
Deposit
Broken
Hill
Pyrite Hill Cobalt Deposit
View towards EAST
View towards WEST
Pt Pirie

6. Project Geology – Co in surface deposits
PYRITE HILL
Inf Res; 16.4Mt at 1.83lb/t Co
(plus 14-24Mt potential)
BIG HILL
Inf Res; 4.4Mt
at 2.00lb/t Co
(open to NE &
at depth)
RAILWAY
Inf Res; 14.9Mt at 1.83lb/t Co
(plus 23-35Mt potential)

7. Railway Prospect
BED001
IP plan with conductivity (colour)
and chargeability (contours)

8. Cobalt –pyrite continues at depth
High-grade cobalt-
pyrite extends at
depth along the
western margin of
the Railway Cobalt
Deposit
2013 drilling
at BED001

9. Comparable size to the Broken Hill Ore body?
PYRITE HILL
Inf Res; 16.4Mt at 1.83lb/t Co
(plus 14-24Mt potential)
BIG HILL
Inf Res; 4.4Mt
at 2.00lb/t Co
(open to NE &
at depth)
RAILWAY
Inf Res; 14.9Mt at 1.83lb/t Co
(plus 23-35Mt potential)
The Railway Cobalt
Deposit ‘footprint’ ....
shaping up to be of
similar size to the
Broken Hill ore body
Long section through the BH orebody
?

10. What is cobalt? ...... A metal of the future
 Cobalt (Co) has special qualities... hard, heavy, high melting temperature
 Co is a ‘Strategic Metal’ in the USA, China, Japan and European Union
 Co’s price range over last 5 years: $12-$50/lb ($22,000-$110,000/t)
 Co is widely used in the following applications:
 superalloys & metals for turbines, jets, military, aircraft, space.
 rechargeable batteries (electric cars, mobile
phones, laptops....). Many lithium-ion
batteries contain up to 60% Co
 a strong magnetic
(better than Ni and Fe)
 pigments used for bright blue
colouring
 in vitamin B12 (blood and brain)
 a catalyst, in jewellery,
medical isotopes,
cosmetics, etc.

11. Why are BPL’s cobalt deposits special?
 Cobalt is mostly produced as a bi-product from some copper or nickel mines
 From the estimated 98,000t (216mlb) Co produced in 2011;
o >60% came from the Democratic Republic of Congo (DRC), >40% was refined in China
o Over 80% consumed by the USA, Japan, China and the EU. None mined in the USA, Japan, EU
 The DR Congo: 50% of the world’s known total cobalt resources, 60% Production
o In early April 2013 DRC announced a ban on exporting cobalt concentrate
o Current uncertainty of future Co supply for growing world demand. Co prices risen to US$27,500/t
DR Congo Canada
Others China
Russia Zambia
Australia Cuba
Morocco New Caledonia
Brazil
2011 Cobalt Mine Production
Source: USGS Mineral Commodity Summary 2012

12. Cobalt price trend on LME
Source; London Metals Exchange
DRC announced ban on
cobalt exports

13. Concentrate Scoping Studies have boosted development options
 Completed by GHD in Nov 2012
 Scoping studies have identified
robust economics for production
of pyrite concentrate for pyrite
roasting to produce sulphuric
acid, cobalt & hematite cinder
for steel/cement
 Five fast-track, low cost
development options identified
at nominal processing rates of
1.5 – 7.5 million tonnes per
annum
 First step in ongoing cobalt
development, infrastructure and
marketing evaluation

14. A staged development? with combination of the following ore processing options:
 Start-up production of 1.5Mtpa of 35% pyrite product from mining, crushing and
transportation of high-grade cobalt-pyrite ore.
 Estimated capital cost of A$6.5 million
 Estimated operating cost of A$14.3 million per year
 Benefits include; low capital investment, negligible water use, low power
requirement, early cash flow
 Flotation processing of 1.5Mtpa of cobalt-pyrite ore feed for production of 300,000tpa of
85-90% pyrite concentrate.
 Estimated capital cost of A$74 million
 Estimated operating cost of A$17.8 million per year
 Flotation processing of 7.5Mtpa of cobalt-pyrite ore feed to produce 1.5mtpa of 85-90%
pyrite concentrate.
 Estimated capital cost of A$190 million
 Estimated operating cost of A$50.9 million per year
 Potential estimated revenue return for concentrate processing using an
established sulphide roast facility is $44 per tonne of ore feed and a 1.6 year pay-
back period
Pyrite to produce sulphuric acid – Key Points

15.  The dynamics of the sulphuric acid market is complex, involving the interplay of
by-product supply and variable demand. There are major variations in pricing
between regions because of transport and raw material availability.
 The production of phosphate fertiliser materials is the major end use for
sulphuric acid, accounting for nearly 52% of total world consumption in 2011.
The remainder is consumed by a wide range of industries including; plastics,
fibres, oil refining, metals and mineral processing.
 Future growth in sulphuric acid use is anticipated with an increasing
population as developing countries switch to higher nutrition food crops that
require soil improvement.
 Overall, there has been a general increase in demand for sulphuric acid and
world consumption increased by about 58% between 1990 and 2011. Declining
acid consumption has occurred in Russia and Europe since the late 1980s but
there has been a considerable increase in demand by socialist Asia
(China, Cambodia, N Korea, Laos, Mongolia and Vietnam) since 1990.
 China dominates sulphuric acid production to feed domestic demand
 Australia is a net importer (>400,000t imported in 2012) and has a growing
local market
Sulphuric acid is industry’s most used chemical

16.  Future processing by ‘roasting’ of BPL’s cobalt-pyrite could
produce electric power with a carbon-neutral footprint.
 A ‘clean’ energy bonus is possible for future cobalt and H2SO4
processing.
 Steam from exothermic heat generated by pyrite concentrate
‘roasting’ and sulphuric acid production could be used for electric
power generation for future on-site processing and infrastructure.
 Sale of surplus, sustainable, zero-carbon energy generated by
this process could also add considerable revenue.
 For a typical 2,000 MTPD sulphuric acid plant it is possible 18-
24MW of surplus electricity could be produced.
Future processing could also generate electric power

17. Corporate snapshot
Main office: Sydney, L14, 52 Phillip Street
Public capital raising of $A4.5m
Commenced Trading 17 Feb 2011
ASX Code: BPL and BPLOA
Current cash: AUD0.6m
Share price, 16 May 2013: 6.1-7.0 cents
Shareholders Shares (m) %
So Co Limited 34.37 42%
New Talisman Gold Mines Ltd
(previously Heritage Gold NZ Ltd)
17.93 22%
Top 20 63.65 77%
Total shareholders: 620
Directors/Management
Creagh O’Connor (Chairman)
Dr Ian Pringle (MD)
Geoff Hill (Alternate: Matt Hill)
Peter Atkinson
Rob Barnes
Corp Advise Consultant
Geologist
Finance
Geologist
Geologist
Francesco Girotto
John Elliot
Wolf Leyh
Ralph Stagg
Company secretary
Consultant Geologist
Consultant Geologist
Resources Consultant
Capital
Shares total
Listed
Unlisted
82,581,900
29,257,511
53,324,389
Options total
Listed (20c, 17/2/14)
Unlisted (20c, 17/2/16)
Unlisted (24c, 17/2/13)
46,340,950
11,190,950
33,650,000
1,500,000
Co

18. Why is Broken Hill Prospecting an excellent investment?
 BPL’s pyrite could provide an industry ‘backbone’ for the future Broken Hill
 BPL has 100% of world-class cobalt-pyrite resources
 Location – BPL’s deposits are within sight (500m) of the Sydney-Adelaide rail and
close to mining city and infrastructure
 Cobalt - increasing use in batteries, superalloys and many other evolving
technologies but...security of Co supply as DRC restrictions start to bite.
 Sulphuric acid – strong market demand for fertiliser and mineral processing
 Electric power – potential to produce all process energy requirements as well as
supply electric power to the national grid.
 Other potential value adding bi-products;
– Feldspar for ceramics/tiles
– High-grade iron ore (hematite) residue
for use in steel or cement industries

19. Deposits are unique and of world class size ……….
Dr Ian Pringle
Managing Director
0408 548767
Broken Hill Prospecting Ltd
is listed on the ASX and NZX
(ASX: BPL)
Please visit our website www.bhpl.biz
to find out more about BPL, our
deposits, our plans and the
cobalt industry.
“Broken Hill Prospecting Ltd is well positioned to
take advantage of increasing world cobalt demand,
uncertainty of cobalt and acid supplies and rising
cobalt price as it develops into a low cost cobalt and
sulphuric acid producer.”
Big Hill 3km
Railway (central)
Pyrite Hill 5km