First Tin Plc · LSE:1SN
First Tin — Sydney Mining Club (September 2024)
16 slides from First Tin's conference presentation, Sep 5, 2024
Slide 1: High Value, Advanced Tin Projects in Australia and Germany
HIGH VAL UE, ADVANCED TIN P ROJE CTS I N AUSTRALIA AND GERMANY Sydney Mining Club 5th September 2024
Slide 2: Disclaimer
Disclaimer This document (“Presentation”) has been prepared by First Tin plc a public limited company incorporated and not immediately returning it or attending the accompanying verbal Presentation, you are deemed to represent, registered in England and Wales under company number 07931518 “Company”)
Slide 3: Key messages
Key messages ➢ Structural changes driving Tin’s importance: • Strong demand growth from multiple sectors • Constrained supply in geopolitically unstable areas ➢ New geo-politically secure supply is fundamental to address supply constraints and deficits. ➢ First Tin offers: • The most advanced new ti
Slide 4: Tin – strong demand growth, but limited project pipeline
Tin – strong demand growth, but limited project pipeline… TIN DEMAND FORECAST NEW PROJECT PIPELINE (Refined Tin Use, ‘000 tonnes) (Tin-in-Concentrate, ‘000 tonnes, start year) 510 10 2029 490 9 8 2024 470 Solar 7 6 2027 450 EV ? 5 2027 5G 2026 ? 4 430 2027 ? 3 2025 410 2 Baseline 1 390 0 370 350 202
Slide 5: Structural supply deficit with higher prices for new supply
…leading to a structural supply deficit with higher prices for new supply GROWING DEFICIT IN TIN SUPPLY-DEMAND BALANCE Cash Cost Curve and Tin Price (Refined Tin, kt) ( USD/tonne – Real 2022) 550 50000 45000 500 40000 Higher prices, with fly-ups to induce 35000 new capacity 450 30000 25000 20000 400
Slide 6: First Tin – advanced projects and 4th largest undeveloped tin resources
First Tin – advanced projects and 4th largest undeveloped tin resources* TARONGA, NSW, AUSTRALIA SAXORE, GERMANY Reserves Tonnage Assay Contained Tin Tellerhäuser Classification (Mt) (% Sn) (Tonnes) Contained Resource Tonnage Assay % % ppm ppm Tin Proved 26 0.14 36,000 Category (Mt) (% Sn) Fe2O3 Zn
Slide 7: Taronga: the world's next new tin mine
Taronga: the world’s next new tin mine A LOW-RISK ASSET IN A LOW-RISK JURISDICTION Key Milestones ➢ Definitive Feasibility Study Freehold Land Ownership* Low Risk completed Open pit, low Strip Ratio Mining Low Cost ➢ MLA lodged and Native Title clearance received Simple Mineralogy and Processing Low
Slide 8: Attractive economics and upside potential
Attractive economics and upside potential Indicative Taronga Pre-Tax NPV Staircase (AUDm)* Further upside: 645 • Brownfield expansions • Fine tin Recovery 251 259 flotation circuit Convert Inferred resources as per improvements** • Higher tin pit optimisations price 345 40 41 243 115 50 52 Ext. dril
Slide 9: Competitive costs with high margin
Competitive costs with high margin Cost and Margin Staircase Competitor Comparisons Price/Cost USD AISC*/tonne Tin: 40,000 • Alphamin: US$13,900 2023 “lowest 35,000 Spot Tin Price: US$ 33,097/t tin sold quartile” 30,000 • Taronga: US$15,843**, DFS • Metals X: US$18,296**, 2023 25,000 52% 20,000 Full
Slide 10: Wide and Continuous Mineralisation with Low Strip Ratio
Wide and Continuous Mineralisation with Low Strip Ratio Taronga Cross Section 5000N Measured Indicated Current Pit Design • Wide and continuous mineralised zones • Accessible, open in all directions • Low strip ratio due to topography - ~1:1 • (Tower of Big Ben shown for scale) Sources: Taronga DFS
Slide 11: Mineralogy allows easy liberation and beneficiation of the cassiterite
Mineralogy allows easy liberation and beneficiation of the cassiterite… Crushing fractures along quartz veins exposing cassiterite FIRST TIN SYDNEY MINING CLUB PRESENTATION | SEPT 2024 10
Slide 12: Simple, low-tech, low cost process flow sheet
…through a simple, low-tech, low cost (<A$6/t ore) process flow sheet Conventional Mining Coarse Rejects Crushing Circuit Screening 2.5Mtpa 0.03% Sn 5.0Mtpa -800mm -12mm +2.8 mm 0.13% Sn -2.8 mm 2.5Mtpa 0.22% Sn 1.7Mtpa +0.4 mm Screening 0.16% Sn 0.9Mtpa -0.4 mm 0.35% Sn 0.2Mtpa 1.4% Sn Basic 1.0Mtp
Slide 13: Taronga at the centre of a broader northern NSW tin district
Taronga is at the centre of a broader northern NSW tin district offering longer term brownfield developmental potential FIRST TIN SYDNEY MINING CLUB PRESENTATION | SEPT 2024 12
Slide 14: Tellerhäuser, Germany – a high grade, polymetallic resource
Tellerhäuser, Germany – a high grade, polymetallic resource Recent Drilling Tellerhauser Deeps - Dreiberg 1.4m @ 1.26% Sn 1.0m @ 2.02% Sn 1.35m @ 1.49% Sn Gottesberg 73.3m @ 0.49% Sn 6.95m @ 1.46% Sn FIRST TIN SYDNEY MINING CLUB PRESENTATION | SEPT 2024 13
Slide 15: Investment case
Investment case • 100% ownership of two low capex tin development FIRST TIN GROWTH HORIZONS projects in low-risk OECD jurisdictions with existing infrastructure, which offers greater security of supply • Quick and de-risked path to production due to established reserves and simple mineralogy • Taron
Slide 16: Contact
CONTACT BILL SCOTTING Chief Executive Officer Bill.scotting@firsttin.com +44 773 499 3547