Blackstone Minerals Ltd · ASX:BSX
Blackstone Minerals — Investor Presentation (February 2025)
26 slides from Blackstone Minerals's investor presentation, Feb 6, 2025
Slide 1: Blackstone Minerals to Merge with IDM International and Explore Mankayan
Blackstone Minerals to Merge with IDM International and Explore the World Class Mankayan Copper-Gold Porphyry Project Investor Presentation February 2025
Slide 2: Disclaimers
DISCLAIMERS These presentation materials and the accompanying verbal presentation (together, the Presentation Materials) have been prepared by Blackstone Minerals Limited (ACN 614 534 226) (Company) as at 5th February 2025 and statements are current only as at that date. Information in the Presentat
Slide 3: Disclaimers
DISCLAIMERS COMPETENT PERSON STATEMENT The information in this report that relates to Exploration Results and Mineral Resources at the Mankayan project in the Philippines is based on information compiled by Mark Berry, a Competent Person who is a Member of the Australian Institute of Geoscientists.
Slide 4: Transaction Highlights
Transaction Highlights Looking forward. Mining green. A South East Asia base metals merger of equals An exciting opportunity to explore the world class Mankayan copper-gold porphyry project Recent drilling with assays pending and significant opportunities for further exploration success Strategicall
Slide 5: Mankayan Copper-Gold Project
Mankayan Copper-Gold Project Looking forward. Mining green. A rare opportunity with scale and high-grade Mankayan is a world class mineral district Historic world class drill intercepts ▪ Mankayan is one of the largest high-grade ▪ 911m @ 1.00% CuEq1 (0.51% Cu & 0.63g/t Au) from 156m [MMD-11] undeve
Slide 6: Blackstone to Merge with IDM International
Blackstone to Merge with IDM International Looking forward. Mining green. Merger of equals to create South East Asia’s premier base metals developer Rationale ▪ Blackstone has an established base metals mine development team that can be utilised to unlock the full potential of the TA KHOA world clas
Slide 7: Mankayan – A Massive High-grade Porphyry
Mankayan – A Massive High-grade Porphyry Looking forward. Mining green. A rare combination of scale, high-grade optionality, location & team Mankayan Copper-Gold Project Overview ▪ Located in Northern Luzon, ~340km from Manila by road and near the centre of the Mankayan mineral district ▪ 2.5km alon
Slide 8: Philippines is Open for Business
Philippines is Open for Business Looking forward. Mining green. A new chapter in the Philippine mining sector ▪ Philippines is party to ASEAN regional trade agreements, including an investment chapter with trading partner Australia ▪ On President Ferdinand Marcos Jr’s election in 2022 metal producti
Slide 9: Social Licence to Operate at Mankayan
Social Licence to Operate at Mankayan Looking forward. Mining green. In-country team driving local collaboration and engagement ▪ IDM International signed a 25-year Mineral Production Sharing Agreement mining license renewal in March 2022 ▪ IDM International signed a Memorandum of Agreement with the
Slide 10: Lepanto – Mankayan's Next Door Neighbour
Lepanto – Mankayan’s Next Door Neighbour Looking forward. Mining green. Mankayan is located 2.5km from an operating gold mine & Far Southeast Lepanto Lodes ▪ Held 100% by Lepanto Consolidated Mining Company (Lepanto) a 100% Filipino-owned gold producer ▪ Located 2.5km from Mankayan project ▪ Produce
Slide 11: Transaction Overview
Transaction Overview Looking forward. Mining green. ▪ All scrip merger of equals via the acquisition of 100% of the fully paid ordinary shares in IDM International Ltd (IDM International) by way of an IDM International Scheme of Arrangement (Scheme) ▪ Under the Scheme, IDM International shareholders
Slide 12: Proforma Capital Structure
Proforma Capital Structure Looking forward. Mining green. Bezant Resources 12% Proforma Capital Structure Existing BSX shares on issue m 601.0 IDM Minority Shareholders Nanjia Civetta IDM International offer shares m 692.1 19% 10% Total shares on issue m 1,293.1¹ Implied Market Cap at $0.029 $m 37.5
Slide 13: Indicative Scheme Timetable
Indicative Scheme Timetable Looking forward. Mining green. Event Date Announcement of the Scheme 6 February 2025 IDM Provides draft Scheme Booklet to ASIC 19 March 2025 First Court Hearing 8 April 2025 Scheme booklet dispatched to IDM International shareholders 10 April 2025 Scheme Meeting 16 May 20
Slide 14: Seasoned Board & Management Team
Seasoned Board & Management Team Looking forward. Mining green. An experienced mining team to build an international base metals business Scott Williamson Joey Ayson Managing Director Executive Board of Directors ▪ Mining Engineer by background with block caving experience at Rio Tinto ▪ Geologist w
Slide 15: Mankayan – A Rare Opportunity
Mankayan – A Rare Opportunity Looking forward. Mining green. Mankayan’s high-grade is rare compared to global undeveloped Cu-Au porphyry projects 0.60 Far Southeast 0.50 Mankayan-HG Marimaca MCB Antakori Altar La Verde Winu 0.40 Copper Grade (%) Los Helados Vizcachitas Canariaco Norte Pebble Haib Ya
Slide 16: ASX Copper Peer Comparison
ASX Copper Peer Comparison Looking forward. Mining green. IDM International has one of the largest copper resources compared to ASX peers 300 9,000 Enterprise Value (AU$) / CuEq1 Resource (t) 270 251 7,803 8,000 250 7,000 210 CuEq1 Resource (kt) 200 6,000 5,682 155 5,000 150 4,322 121 4,000 100 91 9
Slide 17: Summary
Summary Looking forward. Mining green. Attractive Investment Proposition Mankayan is located within a well-known world class mineral district, hosting large porphyry systems with particularly high gold grades The Philippines offers a pro-mining environment with a strong history of successful operati
Slide 18: Contact Us
Looking forward. Mining green. CONTACT US Suite 7, 1297 Hay Street, West Perth, WA, 6005 T: +61 8 9425 5217 F: +61 8 6500 9982 E: admin@blackstoneminerals.com.au www.blackstoneminerals.com.au ASX:BSX
Slide 19: Mankayan Long Section – Copper & Gold
Mankayan Long Section – Copper & Gold Looking forward. Mining green. 19 ASX:BSX 1. CuEq calculation assumes metal prices of US$2.80/lb Cu, US$1,800/oz Au and recoveries of 90% for Cu and 75% for Au as per the existing JORC 2012 Mineral Resource Estimate 2. Refer to ASX Announcement on 6 February 202
Slide 20: Mankayan Cross Sections – Copper & Gold
Mankayan Cross Sections – Copper & Gold Looking forward. Mining green. 20 ASX:BSX 1. CuEq calculation assumes metal prices of US$2.80/lb Cu, US$1,800/oz Au and recoveries of 90% for Cu and 75% for Au as per the existing JORC 2012 Mineral Resource Estimate 2. Refer to ASX Announcement on 6 February 2
Slide 21: Mankayan – High Grade Optionality
Mankayan – High Grade Optionality Looking forward. Mining green. Potential for high-grade and bulk-tonnage mining methods 1 ▪ The Mankayan Copper-Gold Project presents a dual development opportunity with potential for both high-grade and bulk-tonnage mining methods ▪ The high-grade core enables sele
Slide 22: Mankayan Ownership Structure
Mankayan Ownership Structure Looking forward. Mining green. ▪ IDM International owns 64% of the Mankayan project through its subsidiaries – Asean Copper and Gibbous Holdings ▪ Corporate structure meets the requirement under MPSA of 60% local ownership* ▪ IDM have option agreements in place to re-str
Slide 23: Case Study – Masbate Gold Project
Case Study – Masbate Gold Project Looking forward. Mining green. ▪ Philippine Gold Processing & Refining Corp (PGPRC) is a wholly-owned subsidiary of B2Gold that buys all ore from the Masbate Gold B2Gold Corp Project. PGPRC developed and owns the process plant and is responsible for the sale of all
Slide 24: Mankayan Mineral Resource Estimate
Mankayan Mineral Resource Estimate Looking forward. Mining green. 24 ASX:BSX 1. Refer to ASX Announcement on 6 February 2025 for Mineral Resource Estimate information
Slide 25: Global Undeveloped Cu-Au Porphyry Projects
Global Undeveloped Cu-Au Porphyry Projects Looking forward. Mining green. Supporting Information Project Developm Owner Total M&I Inferred M&I Inferred Total Market Cash Debt Enterprise Link to Source ent Stage Resources Cap Value Cu Au CuEq Cu Au CuEq CuEq CuEq AUD AUD AUD AUD Tonnes Tonnes Tonnes
Slide 26: Global Undeveloped Cu-Au Porphyry Projects
Global Undeveloped Cu-Au Porphyry Projects Looking forward. Mining green. Supporting Information Project Development Stage Owner Total Resources M&I Inferred M&I Inferred Total Link to Source Tonnes Tonnes Tonnes Cu Grade (%) Au Grade (%) CuEq Grade (%) Cu Grade (%) Au Grade (%) CuEq Grade (%) CuEq
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