Asarian Energy Limited · TSX:ARN
Asarian Energy — Forsys Metals — Investor Presentation (May 2023)
22 slides from Asarian Energy's investor presentation, May 2023
Slide 1: May 2023 Corporate Presentation
MAY 2023 Advancing one of the largest permitted forsysmetals.com 1 undeveloped uranium projects in theTSX:FSY world
Slide 2: Forward-Looking Statements
Forward-Looking Statements The data contained in this presentation is provided for information purposes only. Certain information has been compiled from sources believed to be reliable. No information in this presentation is to be construed as an offer to buy or sell securities. The reader agrees to
Slide 3: A Renewed Focus for Growth
A Renewed Focus for Growth • Acquiring and developing § Well capitalized § Strong Board and executive team with mineral properties in Namibia flat structure § Poised to acquire further local mineral § Focused on advancing its Norasa Project • Continue building strong assets relationships in Namibia
Slide 4: Nearing End of Development Process
Nearing End of Development Process Care & maintenance period following Fukushima TSX listing Award 25yr Mining Fukushima Norasa DFS Completed C$13M Appointed Namibia License (ML149) event Released bought deal based Ops team 2006/7 2008 /9 2011 2012/13 2015 2021 2022/3 2005 to 2007 2008 2009 to 2011
Slide 5: Norasa: Forsys Metals' Flagship Project in Namibia
Norasa: Forsys Metals’ Flagship Project in Namibia § Norasa (comprising Valencia and Namibplaas sites), is potentially one of the largest, fully permitted uranium projects in the world; § Potential to become one of the Top Tier uranium mines in the world; § Most permits, licences and infrastructure
Slide 6: Norasa Potentially the Largest Permitted Uranium Project
Norasa Potentially the Largest Permitted Uranium Project Uranium Projects in Development Uranium Projects in Development by Annual Production Mlbs U3O8 by Uranium Reserves Mlbs U3O8 5.2 90.7 68.4 3.8 3.5 60.3 57.1 3.1 3.0 2.7 47.2 2.4 2.4 42.3 Norasa DASA Etango Mulga Rock Tumas Madaouela Matanga Le
Slide 7: Potential to become a Future Tier 1 Uranium Mine
Potential to become a Future Tier 1 Uranium Mine Largest Uranium Mines by Production (Mlbs U3O8) in 2020 Potential to become 8th largest uranium mine in the world 10.1 10.1 9.1 8.0 7.4 7.0 6.4 5.2 4.9 4.7 4.3 Cigar Lake Husab Central Mining Olympic Dam Katco Inkai Karatau Norasa Somair Beverley Röss
Slide 8: Summary of 2015 Definitive Feasibility Study (DFS)
Summary of 2015 Definitive Feasibility Study (DFS) v Mine Life: 15 years v Total Reserve: 90.7 Mlb (5.2Mlbs/year) v Net Revenue: $5,056.8m v Operating Cash flow: $1.751bn v Operating Costs/lb $34.72 v Pre-Tax NPV: $622.6m v Pre-Tax IRR: 32% v Payback Period: 4.4 years v Production CAPEX: $432.8m v C
Slide 9: Tremendous Leverage to Rising Uranium Prices
Tremendous Leverage to Rising Uranium Prices Pre-Tax NPV8% (US$ million) 89% increase in NPV at $1,175.0 US$15/lb higher price $990.9 $806.7 $622.6 $438.4 $60 $65 $70 $75 $80 Uranium Price (US$/lb U3O8) Tremendous leverage to rising long-term uranium contract prices (no adjustment to DFS mine plan)
Slide 10: Norasa is Located in Namibia's Uranium District
Norasa is Located in Namibia’s Uranium District vNamibia is Politically stable, low risk & mining friendly Norasa is situated in the Erongo Region § Government regulation & support to grow mining sector § Fair and balanced tax system Marenica Project Norasa Project § Fraser 2021 Survey of mining jur
Slide 11: Valencia and Namibplaas Uranium Deposits
Valencia and Namibplaas Uranium Deposits Both sites are modelled on open pit designs in the DFS: Valencia Reserves Estimate Classification Mt Grade ppm Mlbs U3O8 U3O8 Proven 16 200 7.1 Probable 139 200 61.3 Total Reserve 155 200 68.4 Namibplaas Reserves Estimate Classification Mt Grade ppm Mlbs U3O8
Slide 12: Capital Markets Profile
Capital Markets Profile Capital Structure Share Ownership Share Performance of Canadian-Listed Uranium Companies (since Dec 31, 2020) Tickers TSX: FSY, FSE: F2T, NSX: Virginia 236% FSY Global Atomic 148% Forsys 113% Cameco 84% Share Price (April 24, 2023) C$0.41 IsoEnergy 80% Fission 74% 52-Week Tra
Slide 13: Experienced Management & Board
Experienced Management & Board Mark Frewin │ CEO (since 2019) and Director (since 2005) Martin Rowley │ Chairman (since 2007) § Over 40 years experience in mining projects globally • Over 35 years of legal experience (both in practice and corporate) with focus on mining sector transactions § Served
Slide 14: Experienced Project Team in Namibia
Experienced Project Team in Namibia Barbara Mulcahy, Lead process Engineer, Owners Team Pine van Wyk│ Project Leader- Norasa Uranium § Process engineering consultant with over 26 years experience in the metallurgical • Qualified Metallurgical Engineer with over 25 years project experience in consult
Slide 15: Experienced Project Team in Namibia
Experienced Project Team in Namibia Carren van Wyk│ Finance Manager (Owners Team) Renée van den Berg│ Project Controls & Financial Modelling, (Owners Team) • Postgraduate Diploma in Management: Financial Accounting (UCT) § mechanical engineer (B.Eng, M.Eng, MBA) with over 17 years experience in • Ov
Slide 16: Overall Project Team
Overall Project Team 01 Project Management Pine van Wyk 12 Business Development Project Controls Pine van Wyk Renee van den Berg 10 Legal & Land Access Wolf Wohlers 02 Finance & Admin 03 Geology & Mineral Resources 04 Mining 05 Process Engineering 08 EIA & Permitting 11 Business Modelling Carren van
Slide 17: Mine Development Plan
Mine Development Plan • Re-evaluation of all mining and process engineering aspects • further drilling programs • studies to assess geotechnical aspects and optimize pit design on revised parameters • process options using new technology & tradeoffs between owner or contract mining • tradeoffs re: l
Slide 18: Drilling Plan
Drilling Plan Commenced 4,100 metres drilling program to depths of up to 420 meters which aims to sample ore for optimizing : o resource modelling; o process design; o pit design; RC CORE Valencia Geotechnical: TOTAL m TO DRILL 1,565 675 890 Namibplaas Geotechnical: TOTAL m TO DRILL 550 100 450 Vale
Slide 19: Project Licences / Permits Plan
Project Licences /Permits Plan Norasa Major Permits • Valencia issued with Mining Licence valid until June 2033 Permit Issued By Date Received Action Required Mining Licence Ministry of Mines and 23-Jun-08 No action (Valencia) Energy • Namibplaas application submitted to MME for a 25 year Mining Lic
Slide 20: Key Infrastructure Plan
Key Infrastructure Plan WATER SUPPLY § Engaged with CREO Engineering Solutions for review, update and detail design work POWER SUPPLY § Engaged with CREO Engineering Solutions for review, update and detail design work § 26 km of industrial-grade gravel roads linking Valencia mine to highway complete
Slide 21: Reasons to Invest in Forsys
Reasons to Invest in Forsys Ø Forsys’ Norasa is the world’s largest permitted uranium project Ø Norasa would potentially become 8th largest uranium project in the world Ø Currently re-reviewing 2015 DFS and optimistic to improve already compelling economics Ø Namibia is 2nd largest Uranium producer
Slide 22: Contact Information
NYSE AMERICAN & TSX:VGZ Contact Information www.vistagold.com Richard Parkhouse │ Director of Investor Relations § Email: info@forsysmetals.com § Email: rparkhouse@forsysmetals.com § Telephone: +44 (0) 1252 781 030 forsysmetals.com 22 § Mobile: +44 7730493432 TSX:FSY