Metro Mining Limited · ASX:MMI
Metro Mining — Shareholder Meeting (May 2024)
20 slides from Metro Mining's shareholder meeting presentation, May 21, 2024
Slide 1: AGM Presentation May 2024
NOT FOR DISTRIBUTION IN THE US For personal use only ASX: MMI AGM Presentation May 2024
Slide 2: Disclosures
Disclosures IMPORTANT INFORMATION The purpose of this presentation is to provide general information about Metro Mining Limited (Metro or the Company) and its subsidiaries and business. NO OFFER OF SECURITIES This presentation is for information purposes only and does not constitute or form any part
Slide 3: ASX MMI: Tremendous Progress Made over the Last Year
ASX MMI: Tremendous Progress Made over the Last Year Recent Share Price Performance1 Shares on Market A$0.050 Share Price1 Issue Capitalisation For personal use only A$0.045 A$0.043 5,818 million A$247 million $0.043 A$0.040 A$0.035 Performance Pro-forma Net Warrants2 Rights Debt4 A$0.030 Metro anno
Slide 4: Unique exposure to Australian bauxite at operational inflection point
Unique exposure to Australian bauxite at operational inflection point Rare opportunity for an upstream Critical Minerals portfolio….. 1 Unique to ASX: large scale, 7+ million WMT, low-cost, high-grade, Australian bauxite producer For personal use only 2 Simple Strategy: Execute pathway to lowest cas
Slide 5: 7+ million WMT, low-cost, high-grade, Australian bauxite producer
ASX MMI: 7+ million WMT, low-cost, high-grade, Australian bauxite producer – unique to ASX Clear vegetation & Return overburden & replace remove overburden topsoil - then revegetate Large-scale, high-quality resource For personal use only “Weipa” style bauxite from well-known West Cape York platea
Slide 6: Strategy: Mt/a expansion provides pathway to lowest global delivered cost supplier to China
Strategy: 7 Mt/a expansion provides pathway to lowest global delivered cost supplier to China within steepening cost curve China Seaborne Bauxite Supply and Costs 2022 and 20261 For personal use only 100 2022 2026 90 80 2026 2022 70 US$/DMT CIF Shandong 60 50 40 30 20 10 0 0 50 100 150 200 Supply (M
Slide 7: Decarbonization expected to drive Global Aluminium demand up by ~40% by 2030
Decarbonization expected to drive Global Aluminium demand up by ~40% by 20301 Aluminium central to long-term renewable energy generation/storage, Global Aluminium demand expected to rise by ~40% by 20301 Electric Vehicles (EVs) and electrification thematics 35 2020 2030 For personal use only Trans
Slide 8: Robust supply / demand backdrop for bauxite price
Robust supply / demand backdrop for bauxite price China imports a good proxy for APAC traded market Australian bauxite price around US$55/DMT+, up 39% since Jan ’221 Record bauxite imports to China in 2023, up 13% y-o-y 75 AUS HT GUINEA LT Indonesia has ceased all bauxite exports, constraining
Slide 9: Track record of 6.0+ M WMT run-rate, guiding to 6.3 to 6.8 M WMT in 2024
Track record of 6.0+ M WMT run-rate1, guiding to 6.3 to 6.8 M WMT in 2024 30000 For personal use only 7 Mt /a run rate 25000 6 Mt /a run rate 5 Mt /a run rate 20000 15000 10000 5000 0 Mar 24 Apr 24 May 24 Jun 24 Jul 24 Aug 24 Sep 24 Oct 24 Nov 24 Dec 24 Jan 25 Feb 25 Sources: (1) Run rate achieved i
Slide 10: Offtake underpins expanded production: 100% contracted in 24
Offtake underpins expanded production: 100% contracted in 2024 New contracts with Lubei Chemical and a leading Aluminium producer add to existing baseload customers for 2024 offtake of 6.9 Mt For personal use only Longstanding baseload customers Xinfa Contract offtake - Xinfa Group and Xiangsen Al
Slide 11: 7+ million WMT capacity operational in Q2 2024
7+ million WMT capacity operational in Q2 2024 MINING & HAULAGE SCREENING BARGE LOADING TOWAGE TRANSHIPPING 7.5 Mt/a 9 Mt/a 8 Mt/a 7.5 Mt/a 9 Mt/a For personal use only OPERATIONAL NOW OPERATIONAL NOW OPERATIONAL NOW OPERATIONAL NOW OPERATIONAL NOW Mining HME: 9 Mt/a Screen loading: 9 Mt/a Barge Loa
Slide 12: Cash generation inflection point: on-track to achieve average site EBITDA of A$15/WMT in 2024
Cash generation inflection point: on-track to achieve average site EBITDA of A$15/WMT in 2024 Economies of scale & evolution of freight book drives forecast margin potential up For personal use only $70 $68 $60 Current Spot Cargo Price $57 $5 2023 2H Average Pricing $53 $50 DFS Pricing $6 $6 $21 $40
Slide 13: Strong, simplified, flexible balance sheet post equity for debt raise
Strong, simplified, flexible balance sheet post “equity for debt” raise: Senior debt repayments due from Mar ’25 Capital raising significantly strengthens balance sheet For personal use only Net Junior Debt Accelerated debt repayments Mar ‘24 Warrants Proceeds of Pro Forma Repayment Offer $25m rep
Slide 14: This debt reduction raise frees up cash flow & resources to pursue value-creation opportunities
This debt reduction raise frees up cash flow & resources to pursue potential value-creation opportunities earlier Strategic Target Mining assets, new OFT Ikamba and wobbler screening circuit have significant latent capacity 0.5 M WMT/a Latent capacity in key For personal use only areas of flow she
Slide 15: Highly experienced board with strong governance, bulk commodity operations and project experience
Highly experienced board with strong governance, bulk commodity operations and project experience For personal use only Douglas Ritchie Fiona Murdoch, Andy Lloyd Simon Wensley Mark Sawyer Independent Independent Independent CEO & Managing Non-Executive Non-Executive Chair Non-Executive Director Non-
Slide 16: Highly experienced management team with a strong performance culture
Highly experienced management team with a strong performance culture Executive Leadership Team For personal use only Diverse Broader Team 360 Simon Wensley Nathan Quinlin employee & contractor Robin Bates CEO & Managing Director Chief Financial Officer workforce CoSec and General Counsel 34 years
Slide 17: New Apron/Wobbler Feeder Screening Circuit - in Operation
New Apron/Wobbler Feeder Screening Circuit- in Operation 12 May Wobbler circuit commission start 15 May first production For personal use only 1500 tonnes per hour already achieved- using only one side for loading Various ore types and moistures already tested- no issues. 17 | ASX : MMI | Ma
Slide 18: Ikamba – Offshore Floating Terminal in Operation
Ikamba – Offshore Floating Terminal in Operation For personal use only 28 April OFT Ikamba Operational 1500 tonnes per hour barge unload already achieved Trialling different ways of 2 transhippers working together 27,800 tonnes per day combined already achieved Targeting 6 to 7 days betwee
Slide 19: Welcome to Ikamba Ceremony – May 2024
Welcome to Ikamba Ceremony – 1 May 2024 For personal use only 19 | ASX : MMI | May 2024 I
Slide 20: For Further Information Contact
For personal use only For Further Information Contact: Investor Relations: Peter Taylor Peter@nwrcommunications.com .au Ph: +61 (0) 4120 3631 Company Secretary: Robin Bates info@metromining.com.au Ph: +61 (0) 7 3009 8000 Postal Address: GPO Box 10955, Brisbane QLD 4000