Vanadium Resources Ltd. · ASX:VR8
Vanadium Resources — Shareholder Meeting (November 2024)
23 slides from Vanadium Resources's shareholder meeting presentation, Nov 29, 2024
Slide 1: Steelpoortdrift Vanadium Project 2024 Annual General Meeting Presentation
Steelpoortdrift Vanadium Project 2024 Annual General Meeting Presentation November 2024 ASX:VR8 www.vr8.global
Slide 2: Disclaimer
Disclaimer This presentation does not constitute investment advice. This presentation has been prepared by Vanadium Resources Limited (“the Company” or ASX:VR8) to provide summary information about the Company and its activities as at the date of this presentation (November 2024). Neither this prese
Slide 3: Corporate Overview
Corporate Overview Top Shareholders Board of Directors Corporate Structure (ASX: VR8) 1 Matrix Resources (Zhejiang) Co Ltd 9.6% Jurie Wessels – as at 27 November 2024 2 J Wessels & Danterne Pty Ltd1 8.5% Executive Chairman 3 Raubex Pty Ltd 7.9% John Ciganek 4 Romfal Sifat Pty Ltd 5.0% Managing Direc
Slide 4: A World-Class Vanadium Mine
A World-Class Vanadium Mine One of the world’s largest DFS 1 indicates robust financial Outcropping ore body with a low Uses conventional & proven and highest-grade vanadium outcomes, with post-tax NPV7.5% of strip ratio & projected bottom concentrate & Salt Roast Leach deposits, located in the US$1
Slide 5: DFS Delivers World Class Vanadium Project
DFS Delivers World Class Vanadium Project1 US$1.21bn US$1.05bn US$152m 42% (A$1.9bn) (A$1.62bn) (A$237m) NPV7.5% (post-tax) Attributable 86.49% NPV2 Yearly Free Cashflows IRR (post-tax) 27 months US$211m US$3.24 US$9.50 (A$329m) (Deloitte forward mid-range) incl. contingency Payback Start up Capex C
Slide 6: Our Current Plan and Long-Term Vision
Our Current Plan and Long-Term Vision Open Pit Mining Concentrator Plant Salt Roast Leach >98% V2O5 Flake & Additional Products 99.5% V2O5 Powder 1.6kt – 3.5kt ROM ore per Crushing, milling & Kiln roasting & chemical Potential to expand production to year at average grade of magnetically separating
Slide 7: Why Vanadium?
Why Vanadium? Listed as a Critical Mineral in Australia, the US, UK and European Union, Vanadium demand is expected to grow significantly from its energy storage capabilities Vanadium Flow Batteries (VFBs) Steel & Alloys VFBs forecast to represent up to 20% of total battery capacity1 Over 90% of
Slide 8: Forecast growth in ESS and VFBs by GWh
Forecast growth in ESS and VFBs by GWh Long term forecast for battery ESS additions by type (GWh)1 1,600 Actual / Forecast 1,400 Energy storage systems (ESS) capacity, measured in gigawatt-hours (GWh), is 1,200 expected to grow significantly through to 2050 due to the increasing deployment of 1,000
Slide 9: Existing Vanadium Supply & Demand vs Vanadium Prices
Existing Vanadium Supply & Demand vs Vanadium Prices Existing Vanadium Supply – Demand, (V2O5 tonnes, (a), (e)) (LHS) 1 vs In 2018, demand shock occurred due to new Vanadium pentoxide prices, Europe (Real '23 US$/lb (a)) (RHS) 2 Chinese regulations aimed at improving the quality of construction mate
Slide 10: Cost of Production (US$/lb V2O5)
International Cost Curve Vanadium Pentoxide Production Costs, 2022 Cash cost of US$3.24/lb V2O5 places the Project within the lowest quartile of the $10 Source: Project Blue 2023 international cost curve for vanadium $9 pentoxide Cost of Production (US$/lb V2O5) $8 $7 $6 Well placed to remain cashfl
Slide 11: Future Proofing Production Profile
Future Proofing Production Profile Future Proofing Production Profile: VR8 has elected to modify the backend of its SRL plant, so that it can produce: 21% 98% V2O5 (suitable for steel market) ~9x increase in demand for 99.5% V2O5 (suitable for VFB market). Demand by end use (V205 / t) vanadium
Slide 12: Enhanced Realised Sales Pricing & Value
Enhanced Realised Sales Pricing & Value Ammonium Metavanadate (AMV) Chinese Vanadium Product Pricing Pre-cursor for the manufacture of V2O5 (CNY/t) 1 160000 Intermediate compound used to produce vanadium products and alloys 136000 V2O5 Flake – 98% 120000 The basis of Steelpoortdrift’s 2022 DFS
Slide 13: Latest Project Optimisation & EPC-F Developments
Latest Project Optimisation & EPC-F Developments Project optimisation has been completed by VR8’s world-class management team, following a comprehensive internal review of the DFS Significant efficiencies for the Project were identified as a result of: o Plant modifications to the concentrator;
Slide 14: Competitive Funding Process Established - Incorporating CEIG
Competitive Funding Process Established - Incorporating CEIG Competitive offtake Competitive offtake and strategy equity process ongoing. & strategic equity Discussions continue with Matrix and other Chinese, European, Japanese, Korean & South African parties. Debt financing Debt financing process o
Slide 15: South Africa as a Mining Jurisdiction
South Africa as a Mining Jurisdiction Recent Improvements in S.A. S.A. Advantages vs Rest Of Africa Improving Power & Infrastructure Energy Supply No black outs for 150 days & South Africa has a grid (ESKOM) which mining road repairs are fixing pot-holes. operations are able to utilise. Growing Opti
Slide 16: Location – in the Bushveld Complex
Location – in the Bushveld Complex This world-renowned mining location is host to several mining operations with multiple major companies active in the area and is in close proximity to existing infrastructure. Other Mines in the Bushveld Complex Vametco – Vanadium Mine Rhovan – Vanadium Mine Tweefo
Slide 17: Resources & Ore Reserves
Resources & Ore Reserves Global Mineral Resource of 680Mt at 0.70% V2O5 Total Ore Reserve of 77Mt at 0.72% V2O5 Mineralisation outcrops at surface and dips shallowly (~10º) – less waste to mine, low strip ratios (0.88x waste : ore) and cheaper mining cost Orebody able to achieve a high-grade
Slide 18: Location of Mineral Resources & Ore Reserves
Location of Mineral Resources & Ore Reserves The final pit design and Ore Reserves based on LOM of 25 years Location and Classification of Location and Classification of (designed to match Mining Right term) Mineral Resources Ore Reserves Final pit design was based on Pit 17, which highlights po
Slide 19: Investment Highlights
Investment Highlights Strong financials with attributable NPV of US$1.05bn, IRR of Offtake & strategic equity process for Phase 1 continues, high 42% and payback period of 27 months demand has the potential for excess to be allocated to Phase 2 Commenced process of assessing debt funding appetite of
Slide 20: Appendix
Appendix November 2024 VANADIUM \ ; RESOURCES
Slide 21: Board of Directors
Board of Directors Jurie Wessels has 26 years’ experience in the exploration industry and co-founded a number of exploration and mining companies, including Bauba Resources Ltd (BAU.J), which owns three operating chrome mines, GoldStone Resources Ltd (GRL.L), which company is mining the Homase-Akrok
Slide 22: Management Team
Management Team JOHN CIGANEK KYLA GARIC JURIE WESSELS Managing Director & Executive Chairman Company Secretary Chief Executive Officer Tim Feather has over 25 years of experience in corporate finance. Following a law degree at the University of Nottingham, he qualified as a chartered accountant with
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