Lunnon Metals Limited · ASX:LM8
Lunnon Metals — Euroz Hartleys Rottnest Island Institutional Conference 2024
27 slides from Lunnon Metals's conference presentation, Mar 13, 2024
Slide 1: Euroz Hartleys Rottnest Island Institutional Conference - Investor Presentation
13 March 2024 EUROZ HARTLEYS ROTTNEST ISLAND INSTITUTIONAL CONFERENCE - INVESTOR PRESENTATION Lunnon Metals Limited (ASX:LM8) is pleased to announce that Managing Director, Edmund Ainscough, will present For personal use only to the Euroz Hartleys’ Institutional Conference at Rottnest Island tomorro
Slide 2: Lunnon Metals (LM8) - Grade is King
✓ This slide is 100% editable. Lunnon Metals (LM8) For personal use only Adapt it to your needs and capture your audience’s “Grade is King…” attention. ✓ This slide is 100% editable. Euroz Hartleys Rottnest Island Adapt it to your needs and Institutional Conference capture your audience’s 14 March 2
Slide 3: Important Notice & Disclaimer
Important Notice & Disclaimer 2 This Presentation has been prepared by employees of Lunnon Metals Ltd (“Lunnon”, “LM8” or “the Company”) on its behalf and is a summary only, and contains summary information about Lunnon and its activities, which is current as at the date of this Presentation (unless
Slide 4: Kambalda investment highlights
Kambalda $27M Cash ^ For personal use only Premium location Strong balance sheet Unrivalled discovery record Maintain news flow Premium concentrate Significant Ni Baker deposit Gold Mineral Resource short lead time 23 km2 109,100 t of nickel metal # Economic at current prices between two significant
Slide 5: Nickel price (sentiment)
Nickel price (sentiment) 4 Ni price in US$/t or A$/t not significantly For personal use only different to June 2021 (IPO) ~A$27,800/t Ni x Sentiment most definitely is! Enterprise Value 16/06/2021 (IPO) $28M 11/03/2024 now $23.1M EV/t Ni metal1 IPO Day 1 close $1,154/t2 Max $3,581/t3 Source/data: 1.
Slide 6: Nickel uninvestable in WA? Baker vs Nova-Bollinger
Nickel “uninvestable” in WA? Baker vs Nova-Bollinger 5 Baker (2023)* Nova-Bollinger (2014)# Commodity Price Setting 11 March 2024 Nickel Price: 2014 Key Assumptions Nickel Price: High-grade nickel US$17,500/t / A$26,500 (A$ 0.66)* US$22,040 / A$24,488 (A$ 0.90) For personal use only Grade (Ore Reser
Slide 7: Nickel Sulphide Projects – Kambalda is High Grade
Nickel Sulphide Projects – Kambalda is High Grade 6 Nickel Sulphide Projects - Mineral Resources 3.000 For personal use only Kambalda (LM8.ASX) Kabanga (LZM:NYSE) 2.500 Nova-Bollinger (IGO.ASX) Pre-mining Mineral Resource 2.000 Fisher East (Kinterra) - private Nickel Grade (%) Windarra (POS.ASX) 1.5
Slide 8: Baker-Foster: 3.0Mt @ 3.0%Ni
Baker-Foster: 3.0Mt @ 3.0%Ni (90,600t Ni)* 7 Significant existing infrastructure = low capital cost For personal use only Discovery success ✓ >85km drilling to date ✓ Baker deposit: discovery to Ore Reserve in ~ 1.5 years ✓ 70,100t* Ni metal added @ $0.24/lb Ni^ De-risking ▪ Existing Mining Leases,
Slide 9: Baker is High Grade
Baker is High Grade 8 SIGNIFICANT INTERCEPTS (>1.0% Ni) For personal use only Diamond ✓ 12.75m @ 7.21% ✓ 6.30m @ 7.86% Reverse Circulation ✓ 14.0m @ 4.72% ✓ 14.0m @ 6.49% ✓ 9.0m @ 5.22% ✓ 6m @ 4.66% ✓ 4.0m @ 6.60% ✓ 5.0m @ 5.81% Refer to ASX announcement dated 22/01/2024
Slide 10: Gold in the Foster Belt
1^ Gold in the Foster Belt 9 • LM8 owns majority of gold rights at FBA For personal use only • St Ives/Kambalda is a world-class gold Ni Ni camp in its own right Foster Baker • Over 15Moz*of past gold production since 1980 • Foster-Cooee belt historical focus was nickel (WMC Resources) • Significant
Slide 11: St Ives >15Moz Gold Camp
St Ives >15Moz Gold Camp^ 10 GOLD OUNCES ORE TONNES PERIOD 2023 (000s) 371.8 (Mt) 4.1 • Since inception, exploration by WMC was managed by 2022 2021 376.7 393.0 3.9 4.1 the nickel exploration group (KNO) 2020 385.0 4.8 • District explored for nickel, but then post 1980s, gold also For personal use o
Slide 12: Endowment on the Doorstep
Endowment on the Doorstep 11 Tonnes Au Gold # Open Pit1 kt Grade g/t koz Africa For personal use only 1 46 7.19 10.7 1999-2000 Orchin 2 802 2.83 73 1985-93 Lifeboat 3 235 2.14 16 1993-94 Pinnace 4 140 3.57 16 1998-99 Britannia 5a 150 5.84 28 1990-94 5b Orion 334 3.26 35 West 6 Idough 430 1.70 24 201
Slide 13: Plentiful Gold Prospect
Plentiful Gold Prospect 12 • 6.0m @ 3.02g/t Au (from 64m) • 2.0m @ 24.49g/t Au (from 82m) For personal use only • 3.0m @ 4.78g/t Au (from 89m) • 2.2m @ 2.33g/t Au (from 86.4m) Refer to ASX announcement dated 13/03/2024 Key observations: • Narrow, yet well-developed quartz breccia • Strong pyrite-pyr
Slide 14: Kambalda's Amazing Potential
Kambalda’s Amazing Potential 13 Kambalda, still a World-Class Ni (and Au!) province ✓ Globally significant nickel & gold camp For personal use only ✓ Unrivalled record of discovery ✓ Excellent local infrastructure & services ✓ Nickel supply chain certainty in Tier One jurisdiction Kambalda Right ass
Slide 15: Lunnon Metals Overview
Lunnon Metals Overview 14 Liam Twigger Non-Executive Chair Edmund Ainscough Managing Director Corporate structure (ASX: LM8) 11 March 2024 only 217.8m $0.23 ~$50m For personal useBoard Ian Junk Deborah Lord Shares on issue Market cap Share price Non-Executive Director Non-Executive Director Ashley M
Slide 16: Appendices
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Slide 17: Only ASX listed Kambalda explorer/developer
Only ASX listed Kambalda explorer/developer 16 Past Nickel Production^: Pre-WMC sale vs Total Life of Mine to date use only 4.3% IGO – Long Shaft 4.1% >440,000t nickel metal mined^ 3.9% after exit by WMC 342 203 3.7% MCR – Widgie/Nth Kamb For personal 3.5% Ni % 3.3% PAN – Lanfranchi 467 101 676 3.1%
Slide 18: Uses of Nickel
Uses of Nickel 17 Nickel: Central to Decarbonisation • For personal use only Nickel possesses physical and chemical properties which make it a valuable alloying material, particularly with chromium and other metals, to produce stainless steel and heat-resisting steel. • Nickel is used in solar (1.3k
Slide 19: Important Notice
Important Notice 18 T h e i n f o r m a t i o n i n t h i s r e p o r t t h a t r e l a t e s t o n i c k e l a n d g o l d g e o l o g y , n i c k e l M i n e r a l R e s o u r c e s , E xp l o r a t i o n T a r g e t a n d E xp l o r a t i o n R e s u l t s , i s b a s e d o n , a n d f a i r l y
Slide 20: Mineral Resources and Ore Reserves Reporting
Mineral Resources and Ore Reserves Reporting 19 This presentation contains references to Lunnon Metals’ Ore Reserves and Mineral Resources, which are shown in a detailed bre akdown below. Mineral Resources* as at 15 January 2024 For personal use only * Mineral Resources are inclusive of Ore Reserves
Slide 21: Baker PFS Key Financial Assumptions
Baker PFS Key Financial Assumptions 20 Price or Rate Assumption Unit Assumption Value (as at 18 May 23) For personal use only Nickel Price1 US$/t 24,000 21,334 Copper Price1 US$/t 7,500 8,302 Cobalt Price1 US$/t 40,000 34,930 Platinum Price1 US$/oz 850 988 Palladium Price1 US$/oz 1,250 1,356 AUD:USD
Slide 22: Major Operating Costs
Major Operating MAJOR Costs OPERATING COSTS 21 FIRST PRINCIPLES, BENCHMARK & RFQ* APPROACH Unit Cost Total LOM Unit Cost For personal use only Item (A$/lb Ni contained A$ Million (A$/t Ore Mined) in concentrate)1 Mining 131.2 214 3.73 Processing (including Surface Haulage)2 46.1 75 1.31 General & Ad
Slide 23: PFS Financial Outcomes
PFS FINANCIAL PFS Financial Outcomes # OUTCOMES# 22 140,000 160,000 Measure Unit Outcome 120,000 140,000 Nickel Contained in Concentrate Ni t 15,970 120,000 For personal use only 100,000 Average Ni Sold Per Annum t Ni pa 4,100 Post tax Free Cash Flow (A$M) Cumulative Con Production (t) 100,000 Gross
Slide 24: Prior ASX Announcements
Prior ASX Announcements 23 This presentation contains references to Lunnon’s Exploration Results and previous announcements. The information in this presentation that relates to previous Exploration Results has been extracted from the following Lunnon ASX announcements, where full details including
Slide 25: Detailed Peer Data (Page 1/3)
Detailed Peer Data (Page 1/3) 24 Project / Company Development Location Measured Indicated Inferred Total Source Deposit Stage Completed Ni Grade Ni Grade Ni Grade Ni Grade For personal use only (kt) (Ni) (kt) (Ni) (kt) (Ni) (kt) (Ni) Crawford Canada Nickel Feasibility Study Ontario, Canada 2,678 0.
Slide 26: Detailed Peer Data (Page 2/3)
Detailed Peer Data (Page 2/3) 25 Project / Company Development Location Measured Indicated Inferred Total Source Deposit Stage Completed For personal use only Ni Grade Ni Grade Ni Grade Ni Grade (kt) (Ni) (kt) (Ni) (kt) (Ni) (kt) (Ni) Ta Khoa Blackstone Pre-Feasibility Vietnam - - 383 0.38% 102 0.36
Slide 27: Detailed Peer Data (Page 3/3)
Detailed Peer Data (Page 3/3) 26 Project / Company Development Location Measured Indicated Inferred Total Source Deposit Stage Completed Ni Grade Ni Grade Ni Grade Ni Grade For personal use only (kt) (Ni) (kt) (Ni) (kt) (Ni) (kt) (Ni) Kambalda Lunnon Metals Pre-Feasibility WA, Australia - - 70 3.1%
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