Boab Metals Ltd · ASX:BML
Boab Metals — Investor Presentation (October 2024)
29 slides from Boab Metals's investor presentation, Oct 11, 2024
Slide 1: A near-term producer in Australia with a margin highly leveraged to the Silver Price
A near-term producer in Australia with a margin highly leveraged to the Silver Price For personal use only Corporate Presentation October 2024 ASX: BML boabmetals.com Delivering metals for a sustainable future
Slide 2: Disclaimer
2 Disclaimer Forward-Looking Statements Compliance Statement For personal use only Certain statements in the presentation are or may be “forward-looking statements” and The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore represent the Company’s intentions, projectio
Slide 3: Boab Metals Corporate Summary
3 Boab Metals Corporate Summary Share Price History 5.0 0.25 For personal use only Capital Structure (3 October 2024) 4.0 0.20 Share Price (A$/sh) Volume (M Shares) Share Price Debt A$0.10 /share Nil 3.0 0.15 2.0 0.10 Shares on Issue Cash 233 million shares A$4.3 million1 1.0 0.05 3 October 2024 (un
Slide 4: A near term producer of Lead & Silver: Investment Highlights
4 Sorby Hills Project A near term producer of Lead & Silver Investment Highlights For personal use only • Located 50km northeast of Kununurra,, Western Australia and 150km by existing sealed roads to the Wyndham Port. • High quality 47.3Mt Mineral Resource1 • 1.5Mt contained Lead at 3.1% • 0.2Mt con
Slide 5: High Quality Resource Estimate
5 Sorby Hills Project High Quality Resource Estimate Grade Contained Metal Tonnes Deposit Pb Zn Ag PbEq1 Pb Zn Ag For personal use only (Mt) % % g/t % kt kt koz A 0.6 5.3% 0.1% 23 6.1% 31 6 427 B 2.7 3.6% 0.3% 20 4.3% 97 8 1,720 Omega 17.2 3.3% 0.4% 34 4.5% 566 71 18,948 Norton 21.1 2.8% 0.4% 34 4.0
Slide 6: FEED Study completed June 2024
6 Sorby Hills Project FEED Study completed June 2024 FEED Study Highlights For personal use only Lead A$264m pre- C1 cash cost 546 thousand payable tonnes production Capex A$1,803 Million Revenue US$0.36/lb payable Pb underpinned 75% Incl. net Silver credit of by tendered pricing US$0.37/lb payable
Slide 7: Development Ready
7 Sorby Hills Project Development Ready ▪ GRES has recently completed For personal use only Primary Crusher FEED Workstreams. ▪ FEED output has resulted in: ▪ detailed plant design and; Flotation Circuit optimised site layout; and ▪ updated EPC pricing consistent with EPC Filter Press pricing adopte
Slide 8: Boab option to acquire 100% Interest
8 Sorby Hills Project Boab option to acquire 100% Interest Terms of the Agreement (See ASX Announcement 23 September 2024) +218kt Concentrate For personal use only • 12-month option for Boab to acquire Yuguang’s 25% interest in Sorby Hills, increasing Boab’s current 75% interest in Sorby Hills to 10
Slide 9: 53Moz - A significant Silver Resource
9 Sorby Hills Project 53Moz - A significant Silver Resource Comparison of contained Silver in undeveloped Australian Silver deposits For personal use only 200 140 180 120 Contained Silver in Resource (Moz) 160 Resource Grade (g/t Ag) 140 100 120 80 100 60 80 60 40 40 20 20 0 0 Reserve Ounces Contain
Slide 10: Confirmed Low-Cost producer
10 Sorby Hills Project Confirmed Low-Cost producer Independently confirmed as a 1st Quartile Project For personal use only on the Global Lead cost curve 2027 Lead Cost Curve (ex-works basis) 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile ▪ Low risk open cut mining and high process plant through
Slide 11: Exposure to Silver Price
11 Sorby Hills Project Exposure to Silver Price Operating Costs covered by a historically non-volatile For personal use only Lead Price leaves the Operating margin fully leveraged to Silver price movements. US$/lb US$/oz Viewed differently, the Sorby Hills Project may be considered 2.0 Increasing Si
Slide 12: Silver: The most conductive metal on earth
12 Silver The most conductive metal on earth • Silver‘s traditional role as a Strong demand for use in solar cells and the storer of wealth is For personal use only electronic components of electric vehicles complemented by its increasing industrial demand. • The use of Silver in solar cells has inc
Slide 13: Supplying the proven Battery Metal
13 Sorby Hills Project Supplying the proven Battery Metal Lead demand growth underpinned by mature and For personal use only emerging vehicle technologies 1. www.batteryinnovation.org/resources/lead-battery-market-data/ “…. low voltage 12V lead- Forecast Light Vehicles Sales versus Lead Demand1 base
Slide 14: Significant Intercepts post MRE 2021
14 Sorby Hills Project Significant Intercepts post MRE 2021 Phase V – 15 holes not yet included in Mineral Resource Estimate For personal use only ▪ SHRC_123 (Beta): 27m @ 3.47% Pb & 37g/t Ag from 34m: ▪ Incl. 3m @ 7.04% Pb & 95g/t Ag from 35m; 5m @ 5.60% Pb & 44g/t Ag from 45m; and 6m @ 4.50% Pb &
Slide 15: Keep Seismic Target
Keep Seismic Target 15 Sorby Hills Project ▪ Follow-up drilling upholds potential for a new discovery (2 km south of existing Sorby Hills Reserves). Keep Seismic Target ▪ New Zone located within favourable structural and stratigraphic setting. Discovery located 2km from the existing ▪ Initial interc
Slide 16: Strategic Growth Opportunities: Manbarrum Zn-Pb-Ag Project
16 Sorby Hills Project Strategic Growth Opportunities Manbarrum Zn-Pb-Ag Project Vision to establish a long-life presence in the east For personal use only ▪ located 25km east of the Sorby Hills Project. Kimberley Region ▪ Mineral Resources declared at two prospects Figure: Location of the which are
Slide 17: Investment Opportunity: Near Term News Flow and Ongoing Activities
17 Boab Metals Investment Opportunity For personal use only Near Term News Flow and Ongoing Activities ▪ Execute Offtake Agreement(s). 11% - FEED vs DFS NPV ▪ Assessing opportunities to further de-risk project 11% NPV based on the same macroeconomic assumptions however, Significantly higher again us
Slide 18: Thank You
18 For personal use only Thank You Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals Boab Metals Limited ASX:BML 18
Slide 19: Establishing Deep Roots within the Local Community
19 Boab Metals Establishing Deep Roots within the Local Community For personal use only Boab is extremely proud to be the Naming Rights Sponsor of the Ord Valley Muster for 2023 and beyond. • Sense of community plays a key role in economic and social well-being of stakeholders across the east Kimber
Slide 20: Board and Technical Team
20 Board and For personal use only Technical Team Gary Comb Simon Noon Richard Monti Andrew Parker Chairman Managing Director Non-Exec. Director Non-Exec. Director and CEO Board and Management Engineer with over 30 Experienced mining Geologist with over 30 Lawyer with significant with a proven track
Slide 21: Appendix
21 Appendix For personal use only Appendix Boab Metals Limited ASX:BML 21
Slide 22: Low Risk Open Pit Ore Reserve
22 Sorby Hills Project Low Risk Open Pit Ore Reserve FEED Study Production Target For personal use only Total Waste ROM Pb Ag PbEq Strip Pit (Mt) (Mt) (Mt) (%) (g/t) (%) Ratio Pit A 4.1 3.7 0.5 3.7 16.4 4.3% 8.1 Pit B 14.8 12.6 2.3 3.2 17.4 3.8% 5.5 Omega South 21.1 18.3 2.8 2.9 29.5 3.9% 6.5 Omega
Slide 23: Sorby Hills Feed Study Life of Mine Physicals
23 Sorby Hills Feed Study Life of Mine Physicals PHYSICALS SUMMARY Unit Total 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 For personal use only ROM Mined Mt 18.3 - 0.4 2.1 2.3 2.4 2.5 2.3 2.0 1.1 3.0 0.3 - Waste Mined Mt 134.6 - 3.8 11.7 14.3 25.7 25.4 21.0 17.3 13.0 4.2 0.2 - % Meas
Slide 24: Sorby Hills Feed Study Life of Mine Cashflows
24 Sorby Hills Feed Study Life of Mine Cashflows FINACIAL SUMMARY Unit Total 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 For personal use only Lead Revenue A$M 1,803 - - 198 225 260 215 207 208 165 226 98 1,803 Silver Revenue A$M 693 - - 59 69 131 121 57 62 71 82 40 693 Total Revenue
Slide 25: Sorby Hills FEED Study Capital Cost Breakdown
25 Sorby Hills FEED Study Capital Cost Breakdown For personal use only Total upfront capital cost of A$264M Item Pre-Production Sustaining Total (A$M) (A$M) (A$M) including A$22.7M contingency EPC Contract 134.9 - 134.9 ~66% of capital costs underpinned by Site Ests/ Bulk Earthworks 31.9 4.9 36.9 te
Slide 26: Sorby Hills FEED Study Operating Cost Breakdown
26 Sorby Hills FEED Study Operating Cost Breakdown For personal use only Competitive C1 cash cost of US$0.36/lb Item Total Unit Costs (A$M) payable Pb (including Silver Credits). A$/t ore US$/lb payable Pb Logistics 117 6.4 0.07 ~80% of Mining Costs underpinned by Mining 547 30.0 0.31 tendered prici
Slide 27: Peer Comparison
27 Sorby Hills Project Peer Comparison M&I Inf Total Primary Reserve Grade Grade For personal use only Project Ticker Owner Resource Resource Resource Source Commodity (tonnes) (g/t) (g/t) (M tonnes) (M tonnes) (M tonnes) Bowdens Silver SVL Silver Mines Limited 30 68 157 43 200 29 Company Presentati
Slide 28: Resource Classification by Deposit
28 Sorby Hills Project Resource Classification by Deposit Grade Contained Metal For personal use only Tonnes Deposit Classification Pb Zn Ag PbEq1 Pb Zn Ag (Mt) % % g/t % kt kt koz Inferred 0.6 5.3% 1.0% 23 6.1% 31 6 427 A Sub Total 0.6 5.3% 0.1% 23 6.1% 31 6 427 Measured 1.4 3.8% 0.3% 19 4.5% 52 4
Slide 29: Metal Equivalent Calculations
29 Metal Equivalent Calculations For personal use only The contained metal equivalence formula is It is Boab’s opinion that all elements included in the metal equivalent calculation have a reasonable based on the Sorby Hills FEED Study including: potential to be recovered and sold. The formula used