Bci Minerals Ltd · ASX:BCI
Bci Minerals — Shareholder Meeting (November 2023)
26 slides from Bci Minerals's shareholder meeting presentation, Nov 22, 2023
Slide 1: 2023 Annual General Meeting
2023 Annual General Meeting AS < BCI MINERALS
Slide 2: Brian O'Donnell, BCI Chair
Brian O’Donnell BCI Chair (Non-Executive)
Slide 3: Acknowledgement of Country
BCI Minerals acknowledges and has deep respect for the ongoing physical and spiritual connection Aboriginal people have to the land associated with our projects. BCI acknowledges the Traditional Custodians of country throughout Australia and pays respect to the Whadjuk people of the Noongar nation a
Slide 4: BCI Board
BCI Board Chair (Non-Executive) Director (Non-Executive) Director (Non-Executive) Director (Non-Executive) Mr Brian O’Donnell Ms Gabrielle Bell Hon. Mr Richard Court AC Mr Chris Salisbury Managing Director Director (Non-Executive) Director (Non-Executive) Company Secretary Mr David Boshoff Mr Garret
Slide 5: BCI Executive team
BCI Executive team Managing Director David Boshoff Chief Financial Officer Head of External Relations General Counsel / Company Secretary Project Director Kerryl Bradshaw Arron Minchin Stephanie Majteles Tim Deighton 2023 Annual General Meeting 5
Slide 6: Year in review – FY23 Mardie Salt and Potash Project
Year in review – FY23 Mardie Salt and Potash Project Mardie is a future tier 1 solar evaporation project that will be a sustainable supplier of salt and potash for generations. Base Capital 1 Contingency First salt on ship $1421M $208M Mid-2026 Progress update Project approvals and tenure progress
Slide 7: Key project highlights
Key project highlights Mardie is one of the highest quality, largest scale new salt projects globally Attractive market fundamentals Updated and more robust Strong demand Positive Stakeholder capital and operating cost from potential offtakers Relationships estimates with advanced engineering design
Slide 8: Cost and design review
Cost and design review BCI has undertaken a full review of all capital packages, development schedules, production profiles and operational costs to complete a compelling new Base Case. The results of this review are as announced to market in June 20231. Quantitative and technical independent De-ris
Slide 9: Confidence in design
Confidence in design Salt SOP ~15% Design complete Commissioned or completed • SOP Plant • Primary seawater intake station • Village • Ponds 1-5 • Roads The Mardie project has been reconfigured to focus on salt as the initial product, with SOP plant design to be progressed during FY24. ~30% Design c
Slide 10: Attractive and sustainable economic performance
Attractive and sustainable economic performance Targeted Project Cashflows to CY50 (A$M, Real) 800 Long life project 60+ years annuity style cashflows to support debt capacity and long-term equity returns1 600 The Mardie Project is anticipated to deliver: 400 • Project NPV7$2.6Bn1 compared to FID of
Slide 11: Strong salt demand growth from Asia
Strong salt demand growth from Asia From recent engagement with Indonesian counterparties, BCI believes that there is significant demand emerging out of Indonesia compared to Wood Mackenzie ’s forecast. Asian salt demand (2030)1 – volume (Mtpa) and growth2 (%) South Korea +33% China (inland) 6 11 +1
Slide 12: Offtake and strategic partnerships
Offtake and strategic partnerships BCI has a focus on developing long term strategic partnerships with significant customers • Offtake discussions are progressing well with several counterparties throughout the Asian market, reflecting the strong market growth for salt and SOP • BCI executed an offt
Slide 13: Funding progressing well
Funding progressing well Project finance Target Brine production First salt on credit approved, approvals commences Q3, 2023 achieved and ship (FSOS) ponds fill commence 2H 2023 2024 2026 2027 Drawdown Equity Debt finance $85M funding SOP plant H2, First SOP on Con Notes progressed in Q4, 2023 2024
Slide 14: David Boshoff, BCI Managing Director
David Boshoff BCI Managing Director
Slide 15: Vision, purpose, and values
Vision, purpose, and values Our Values: People and Environment and Assets Community Our vision is to be a globally significant, sustainable industrial minerals business, with salt and potash as the initial focus. Our purpose is to create sustainable value for Integrity Performance stakeholders, by p
Slide 16: Health, safety, and wellbeing
Health, safety, and wellbeing Verification of Critical Controls By focusing on lead indicators such as a verification of our critical controls, we BCI places the highest priority on providing a safe and can better anticipate and address potential risks before they evolve, ensuring the health, safety
Slide 17: Project execution supported by first-class partners
Project execution supported by first-class partners 2023 Annual General Meeting 17
Slide 18: Project Progress – an overview
Project Progress – an overview 01 Overall project progress to 30 September 2023: 27.8% 01 03 Marine Structure package Primary seawater Overall 40% complete, Jetty intake station 10% complete Complete 04 02 04 Ponds 1 to 5 Earth works complete, Mardie accommodation 02 excluding rock armour villag
Slide 19: Ponds and transfer station
Ponds and transfer station Ponds one to five are complete and ponds six to nine are under review for award. Rock armour placement has commenced. Preparation works for pump installation have commenced at the transfer station 2/3. . 2023 Annual General Meeting 19
Slide 20: Marine package
Marine package McConnell Dowell has made significant progress on the jetty structure, with the marine structure package at 40% overall and jetty construction at 10%. . 2023 Annual General Meeting 20
Slide 21: Positive Stakeholder Engagement
Positive Stakeholder Engagement Lenders / Investors Approvals Native Title Tenure • Strong debt and equity profile in new • EPA approved the initial project • Key Native Title agreements in • All Definitive Feasibility Study (DFS) base case scope footprint1 place mining tenure granted in Q1 2022, •
Slide 22: Sustainability is a key pillar at BCI
Sustainability is a key pillar at BCI BCI is committed to the responsible use of natural resources, ensuring fair treatment of all people involved with, or impacted by, our operations, and the long-term wellbeing of our environment. Our key sustainability achievements in FY23: • Reduced design footp
Slide 23: In Closing
In Closing Our FY24 Focus BCI is confident in the deliverability of the Mardie Salt and Potash Project Safety Construction • Safety remains the highest priority of BCI, particularly as the construction workforce grows on-site, and pond operations commence in FY24 • Our construction focus will be on
Slide 24: About BCI Minerals (ASX: BCI)
About BCI Minerals (ASX: BCI) Established in 2006, BCI Minerals (BCI) is an Australian-based company developing its 100% owned Mardie Salt and Potash Project. Visit the BCI Minerals website to learn more about who we are or click here to watch our corporate video. T +61 8 6311 3400 E info@bcimineral
Slide 25: Important Notices
Important Notices Not an Offer of Securities This document has been prepared by BCI Minerals Limited ABN 21 120 646 924 (“BCI”) and is provided for information purposes only. This document does not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase or
Slide 26: Important Notices (continued)
Important Notices (continued) Forward-Looking Statements This document contains forward-looking statements regarding project development and operations, production rates, project life, projected cash flow, capital expenditure, operating costs and other economic performance and financial condition as