Vhm Limited · ASX:VHM
Vhm — Shareholder Meeting (November 2023)
27 slides from Vhm's shareholder meeting presentation, Nov 20, 2023
Slide 1: VHM Limited Annual General Meeting
VHM Limited Annual General Meeting 20 November 2023 I THE WESTIN BRISBANE, 111 Mary Street, Brisbane Queensland ASX:VHM Acknowledgement of Country VHM acknowledges the Australian Aboriginal and Torres Strait Islander peoples as the first inhabitants of the nation and the traditional custodians of th
Slide 2: Disclaimer and forward-looking statements
Disclaimer and forward-looking statements Important Information This presentation has been prepared by VHM Limited ACN 601 004 102 (Company). It contains general Forward looking statements are based on numerous assumptions regarding VHM Limited’s present and future background information only which
Slide 3: Agenda
Agenda 1 Chairman’s Address 2 Board Introduction 3 Review of Operations 4 Market Outlook Appendices A Financials B JORC Tables 3
Slide 4: Chairman's address
Chairman’s address Don Runge Non-Executive Chairman Pictured: Graham Howard and Don Runge during the ASX Listing Ceremony, January 2023 4
Slide 5: Chairman's Address letter
S) VHM Limited 20 November 2023 VHM Limited Annual General Meeting Chairman's Addres: Dear Shareholders, am pleased to say, 2023 hes delivered # number of fundamental milestones for the Compsny. which have led us to this point of entering the public exhibition period for the Goshen Rare Earths and M
Slide 6: Board Introduction
be Board Introduction
Slide 7: Board and management team
Board and management team Michael Sheridan BEc, LLB, LLM, GradDipAppFinInv Chief Financial Officer 30+ years’ operations and financial experience as executive, having worked at senior management levels in publicly listed companies, predominantly in the international resources sector (mining and oil
Slide 8: Operations Update
| Operations Update x ek:
Slide 9: FY 2023 in review
FY 2023 in review Pivotal year ASX:VHM EES Exhibition Q3 2023 Q4 2023 H1 2024 • Listed on ASX - A$30 million1 • High-grade interim drilling results from • Drilling Results Indicate New High-Grade • ANSTO Testwork Demonstrates High Cannie6 Ore Body at Nowie10 Extractions of REM2 • Entered Memorandum
Slide 10: Goschen Project highlights
Goschen Project highlights The DFS Refresh1 demonstrates the Goschen Project economics to be compelling 5Mtpa 9.4ktpa >20 years REMC Conventional open cut Target annual production rates for mining methods rare earth mineral concentrate excavation, load and (REMC) haul 8.5ktpa 134.5ktpa MREC HMC Targ
Slide 11: Hydromet Pilot Plant results demonstrate potential
Hydromet Pilot Plant results demonstrate potential Exceptional recoveries meet specifications required by Western strategic offtake partners Market leading recoveries achieved at ANSTO producing a high purity mixed rare earth carbonate (MREC) product >97% critical light rare earths Nd/Pr Goschen
Slide 12: Goschen Project permitting and approval pathway
Goschen Project permitting and approval pathway We are here Planning Approvals & Construction Operation Closure 2018 – 2020 2021 – 2022 2023 2024 2024– 2026 2026 – 2044 2045 Feasibility studies Prepare EES EES Inquiry & Advisory Production Phase 1A End of mining Prepare EES Prelimina
Slide 13: Exploration
Exploration VHM confirms a major new critical mineral province Company Mineral Resources & Reserves 820 Mt1 Mineral Resource estimate 210 Mt2 Ore Reserve 590 Kt1 TREO +Y2O3 Victoria Notes Operations (1) Company Mineral Resource estimate at 30 June 2023 (2) Global Reserve last updated and released 29
Slide 14: VHM's ESG credentials
VHM’s ESG credentials Flagship Goschen Project: Building a sustainable mine operations from the start Environmental Stewardship Local Community Engagement As part of the Goschen EES process, VHM has identified existing environmental and cultural values surrounding A community benefits program is und
Slide 15: Accelerating Goschen towards production in 2025
Accelerating Goschen towards production in 2025 Public exhibition of Approvals Construction Construction First production Environment Effects (Phase 1 and 1A) commences commences on (Phase 1) Statement for Final Investment (Phase 1) Hydromet Circuit permitting Decision (Phase 1A) Q4 2023 H1 2024 H2
Slide 16: Market Outlook
Market Outlook
Slide 17: EV Demand by region
EV Demand by region Emission and EV market share targets will continue to grow demand for EV and EV plug-in outlets exponentially 56% reduction in fleet-wide Automotive manufacturers are making long-term commitments to GHG emissions by 2032 supply chain changes that are already exceeding supply fore
Slide 18: Market outlook: Forecasted global production – NdPr
Market outlook Forecasted global production – NdPr Global demand to triple by 2035 Adamas projects by 2035 the global demand for NdPr oxide will reach 260,000 tonnes – nearly triple the global consumption in 2022. By 2035 – the demand-side of the market will necessitate approximately 200,000 ton
Slide 19: Market outlook: Forecasted global production – Zircon
Market outlook Forecasted global production – Zircon TZMI forecasts a modest cyclic overall zircon demand rebound for 2024 with a 2.7% year on year growth rate. TZMI expects long term global demand to grow 2.6% per annum. Global zircon existing global supply of zircon is expected to peak in 20
Slide 20: Priorities 2024
Priorities 2024 Mature operation and finance system for a responsible mining business Take Goschen to Solidify multi-faceted Investment in systems Explore for further Production in 2025 funding framework to enable VHM as a resource growth Responsible Corporate Citizen Australian owned rare earths an
Slide 21: Appendix A Financial Performance
Appendix A Financial Performance
Slide 22: 2023 Financial performance
2023 Financial performance Consolidated Statement of Cash Flows $’000 Consolidated Statement of Profit or Loss $’000 Net cash outflows from operating activities (10,487) Revenue 337 Net cash outflows from investing activities (20,188) Expenditure (18,253) Net cash inflows from financing activities 2
Slide 23: Funding strategy
Funding strategy Multifaceted funding strategy comprising debt, equity and government funding GOSCHEN PROJECT FUNDING DEBT EQUITY Strategic Debt Partners Strategic Export Credit Partnerships Global Debt Markets Equity Capital Markets Government Lending/Grants The Company is confident that a combinat
Slide 24: Appendix B JORC Tables
Appendix B JORC Tables
Slide 25: Company Ore Reserves
Company Ore Reserves 210.2Mt Ore Reserve Note: (1) Any discrepancies in totals are a function of rounding. THM Assemblage and Rare Earth Oxides are reported as a percentage of in-situ THM content. 25 (2) The Ore Reserve was prepared and first disclosed under the JORC Code (2012) in the ASX release d
Slide 26: Company Mineral Resources
Company Mineral Resources 820.4Mt Mineral Resource estimate Total Heavy Oversize THM Assemblage(3) Rare Earth Oxides Mineral Material In Situ THM Bulk Density Mineral Slimes material Area Resource TREO + (THM) >2mm Zircon Rutile Leucoxene Ilmenite Monazite Xenotime La2O3 CeO2 Pr6O11 Nd2O3 Sm2O3 Eu2O
Slide 27: vhmltd.com.au
vhmltd.com.au Level 11, 330 Collins Street, Victoria 3000 For further information contact: Ron Douglas Interim Chief Executive Officer Ron.Douglas@vhmltd.com.au Carly O’Regan Executive General Manager carly.oregan@vhmltd.com.au