Boab Metals Ltd · ASX:BML
Boab Metals — Shareholder Meeting (November 2024)
22 slides from Boab Metals's shareholder meeting presentation, Nov 26, 2024
Slide 1: 2024 Annual General Meeting Presentation
A near-term producer in Australia with a margin highly leveraged to the Silver Price For personal use only 2024 Annual General Meeting Presentation 26 November 2024 ASX: BML boabmetals.com Delivering metals for a sustainable future
Slide 2: Disclaimer
2 Disclaimer Forward-Looking Statements Compliance Statement For personal use only Certain statements in the presentation are or may be “forward-looking statements” and The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore represent the Company’s intentions, projectio
Slide 3: 2024 Year in Review
3 2024 Year in Review Progress toward a Final Investment Decision at Sorby Hills For personal use only ✓ Completion of a Front-End Engineering & Design Study (“FEED Study”) delivering 11% - FEED vs DFS NPV Based on the same macroeconomic assumptions improved project economics1. Past 12 Months ✓ Agre
Slide 4: FEED Study completed June 2024
4 Sorby Hills Project FEED Study completed June 2024 FEED Study Highlights For personal use only Lead A$264m pre- C1 cash cost 546 thousand payable tonnes production Capex A$1,803 Million Revenue US$0.36/lb payable Pb underpinned 75% Incl. net Silver credit of by tendered pricing US$0.37/lb payable
Slide 5: Project Sensitivities
5 Sorby Hills Project Project Sensitivities Macroeconomics For personal use only 1,000 900 As at 25 November 2024 800 700 • Lead: US$2,022/t • Silver: US$30.6/oz Project NPV8 600 • FX: 0.65 AUD:USD 500 • Spot Lead TC: US$30/t1 400 300 200 NPV8 = A$493m 100 - 1. Source: What do the record low base me
Slide 6: Agreement to acquire 100% Interest
6 Sorby Hills Project Agreement to acquire 100% Interest +218kt Concentrate For personal use only Terms of the Agreement 12-month option for Boab to acquire remaining 25% interest in Sorby Hills existing JV partner. +137kt Payable Lead Full control over joint venture budgets and work programs +4.3Mo
Slide 7: Capital Cost Reduction Initiative
7 Sorby Hills Project Capital Cost Reduction Initiative For personal use only Boab is assessing multiple opportunities to reduce the capital expenditure for Sorby Hills. Potential purchase of the DeGrussa Process Plant from Sandfire Resources has been identified as highly prospective and fit-for-pur
Slide 8: Corporate Summary
8 Boab Metals Corporate Summary Share Price History 10 0.25 For personal use only Capital Structure (25 November 2024) 9 8 0.20 Share Price Debt Share Price (A$/sh) Volume (M Sahres) 7 A$0.13 /share Nil 6 0.15 5 Shares on Issue Cash 4 0.10 233 million shares A$3.9 million1 3 2 0.05 Market Cap Perfor
Slide 9: Final Investment Decision Milestones
9 Sorby Hills Project Final Investment Decision Milestones For personal use only ✓ Completed Project FEED Study ✓ Secured option to acquire 100% of the Project Recent achievements ✓ Identified material capital reduction opportunity provide Boab with • Q4/2024: Secure cornerstone Offtake and Financin
Slide 10: Thank You
10 For personal use only Thank You Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals Boab Metals Limited ASX:BML 10
Slide 11: Appendix
11 Appendix For personal use only Appendix Boab Metals Limited ASX:BML 11
Slide 12: Board and Technical Team
12 Board and For personal use only Technical Team Gary Comb Simon Noon Richard Monti Andrew Parker Chairman Managing Director Non-Exec. Director Non-Exec. Director and CEO Board and Management Engineer with over 30 Experienced mining Geologist with over 30 Lawyer with significant with a proven track
Slide 13: High Quality Resource Estimate
13 Sorby Hills Project High Quality Resource Estimate Grade Contained Metal Tonnes Deposit Pb Zn Ag PbEq1 Pb Zn Ag For personal use only (Mt) % % g/t % kt kt koz A 0.6 5.3% 0.1% 23 6.1% 31 6 427 B 2.7 3.6% 0.3% 20 4.3% 97 8 1,720 Omega 17.2 3.3% 0.4% 34 4.5% 566 71 18,948 Norton 21.1 2.8% 0.4% 34 4.
Slide 14: Low Risk Open Pit Ore Reserve
14 Sorby Hills Project Low Risk Open Pit Ore Reserve FEED Study Production Target For personal use only Total Waste ROM Pb Ag PbEq Strip Pit (Mt) (Mt) (Mt) (%) (g/t) (%) Ratio Pit A 4.1 3.7 0.5 3.7 16.4 4.3% 8.1 Pit B 14.8 12.6 2.3 3.2 17.4 3.8% 5.5 Omega South 21.1 18.3 2.8 2.9 29.5 3.9% 6.5 Omega
Slide 15: Sorby Hills Feed Study Life of Mine Physicals
15 Sorby Hills Feed Study Life of Mine Physicals PHYSICALS SUMMARY Unit Total 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 For personal use only ROM Mined Mt 18.3 - 0.4 2.1 2.3 2.4 2.5 2.3 2.0 1.1 3.0 0.3 - Waste Mined Mt 134.6 - 3.8 11.7 14.3 25.7 25.4 21.0 17.3 13.0 4.2 0.2 - % Meas
Slide 16: Sorby Hills Feed Study Life of Mine Cashflows
16 Sorby Hills Feed Study Life of Mine Cashflows FINACIAL SUMMARY Unit Total 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 For personal use only Lead Revenue A$M 1,803 - - 198 225 260 215 207 208 165 226 98 1,803 Silver Revenue A$M 693 - - 59 69 131 121 57 62 71 82 40 693 Total Revenue
Slide 17: Continuing to Deliver Silver Exposure to Investors
17 Sorby Hills Project Continuing to Deliver Silver Exposure to Investors For personal use only ▪ Since the acquisition of the Rolling 30-day average daily % changes in USD Silver price & BML share price since June 2018 Sorby Hills Project in June 6.00% 2.00% 2018, Boab’s share price has exhibited a
Slide 18: Exposure to Silver Price
18 Sorby Hills Project Exposure to Silver Price Operating Costs covered by a historically non-volatile For personal use only Lead Price leaves the Operating margin fully leveraged to Silver price movements. US$/lb US$/oz Viewed differently, the Sorby Hills Project may be considered 2.0 Increasing Si
Slide 19: Sorby Hills FEED Study Capital Cost Breakdown
19 Sorby Hills FEED Study Capital Cost Breakdown For personal use only Total upfront capital cost of A$264M Item Pre-Production Sustaining Total (A$M) (A$M) (A$M) including A$22.7M contingency EPC Contract 134.9 - 134.9 ~66% of capital costs underpinned by Site Ests/ Bulk Earthworks 31.9 4.9 36.9 te
Slide 20: Sorby Hills FEED Study Operating Cost Breakdown
20 Sorby Hills FEED Study Operating Cost Breakdown For personal use only Competitive C1 cash cost of US$0.36/lb Item Total Unit Costs (A$M) payable Pb (including Silver Credits). A$/t ore US$/lb payable Pb Logistics 117 6.4 0.07 ~80% of Mining Costs underpinned by Mining 547 30.0 0.31 tendered prici
Slide 21: Establishing Deep Roots within the Local Community
21 Boab Metals Establishing Deep Roots within the Local Community For personal use only Boab is extremely proud to be the Naming Rights Sponsor of the Ord Valley Muster for 2023 and beyond. • Sense of community plays a key role in economic and social well-being of stakeholders across the east Kimber
Slide 22: Metal Equivalent Calculations
22 Metal Equivalent Calculations For personal use only The contained metal equivalence formula is It is Boab’s opinion that all elements included in the metal equivalent calculation have a reasonable based on the Sorby Hills FEED Study including: potential to be recovered and sold. The formula used