Blackstone Minerals Ltd · ASX:BSX
Blackstone Minerals — Investor Presentation (December 2023)
30 slides from Blackstone Minerals's investor presentation, Dec 5, 2023
Slide 1: Option to Acquire Major Nickel Asset
Looking forward. Mining green. OPTION TO ACQUIRE MAJOR NICKEL ASSET INVESTOR PRESENTATION (ASX:BSX) ASX:BSX
Slide 2: Disclaimers
DISCLAIMERS Looking forward. Mining green. These presentation materials and the accompanying verbal presentation (together, the Presentation Materials) have been prepared by Blackstone Minerals Limited (ACN 614 534 226) (Company) as at 5 th December 2023 and statements are current only as at that da
Slide 3: Disclaimers
DISCLAIMERS Looking forward. Mining green. PROSPECTUS The Company is in the process of preparing a prospectus (Prospectus) for the offer of fully paid ordinary shares in the capit al of the Company (Shares) in relatio n to the capital raising contemplated by the Presentation Materials. A copy of the
Slide 4: Disclaimers
DISCLAIMERS Looking forward. Mining green. FORWARD LOOKING INFORMATION This document contains forward lo oking statements concerning the Company. Forw ard-looking statements are not statements of historical fact, and actual events and result s may differ materially from those described in the forwar
Slide 5: Blackstone Minerals
BLACKSTONE MINERALS Looking forward. Mining green. Looking forward. Mine Mining green. Refinery Ta Khoa Nickel Project (Upstream) • Mine restart with DFS underway Hanoi • Reserve: 48.7Mt at 0.43% Ni for 210kt Ni Integrated developer of low cost, low carbon nickel ▪ Low carbon nickel (9.8kg CO2/kg pC
Slide 6: Vertically Integrated Business Model
VERTICALLY INTEGRATED BUSINESS MODEL Looking forward. Mining green. BLACKSTONE MINERALS – MAJORITY SHAREHOLDER Targeting Global Lithium- Resource: 130Mt at Ta Khoa Nickel ion battery and EV 0.39% Ni for Project, Vietnam market 485kt Ni Ta Khoa Refinery Strategic Nickel in Investments Convert interme
Slide 7: Transaction Highlights
TRANSACTION HIGHLIGHTS Looking forward. Mining green. Option to acquire 100% of the Wabowden nickel sulphide project located in the world-class Thompson nickel belt in Manitoba, Canada Large scale resource with significant growth potential and existing infrastructure Attractive opportunity well matc
Slide 8: Wabowden Location
WABOWDEN LOCATION Looking forward. Mining green. FAVOURABLY LOCATED IN PROVEN MINING JURISDICTION LOCATION • 106km SSW of Thompson, Manitoba (650km N of Winnipeg) ACCESS • Fly to Winnipeg airport serviced by Canadian national carriers, with short flight to Thompson on regional airline • Drive from T
Slide 9: Wabowden Project Overview
WABOWDEN PROJECT OVERVIEW Looking forward. Mining green. SCALE & OPTIONALITY IN WORLD CLASS THOMPSON NICKEL BELT THOMPSON NICKEL BELT • 300km of strike • 2.5Mt of nickel produced over 50 years • Fifth largest nickel sulphide camp in the world WABOWDEN DEPOSITS • Five deposits discovered to date - Bu
Slide 10: Wabowden Project Positioning
WABOWDEN PROJECT POSITIONING Looking forward. Mining green. GLOBALLY SIGNIFICANT NICKEL SULPHIDE DEPOSIT WITH GOOD GRADE AND SCALE Total MI&I Resources (t) 1,000,000 10,000,000 100,000,000 1,000,000,000 10,000,000,000 Fisher East Windarra Eagle's Nest High Grade >1.0% Ni Mt Edwards Tamarack Jaguar 1
Slide 11: Wabowden Development Opportunity
WABOWDEN DEVELOPMENT OPPORTUNITY Looking forward. Mining green. WELL SUITED TO LARGE SCALE & LOW COST BULK MINING BLACKSTONE DEVELOPMENT STRATEGY • Optimise Wabowden as a large-scale, low cost, bulk mining operation underpinned by the large-scale Bowden and Bucko deposits • Leverage existing infrast
Slide 12: Wabowden Infrastructure & Permitting
WABOWDEN INFRASTRUCTURE & PERMITTING Looking forward. Mining green. STRONG PLATFORM FOR FUTURE DEVELOPMENT KEY INFRASTRUCTURE • Modern 364ktpa nickel concentrator in good operating condition including • 2-stage crushing circuit; • Rod mill, ball mill; • Flotation circuit; • Thickening; • Tailings di
Slide 13: Blackstone's Consolidation Strategy
BLACKSTONE’S CONSOLIDATION STRATEGY Looking forward. Mining green. THE WABOWDEN PROJECT WILL PLAY A PIVOTAL ROLE IN FILLING THE TA KHOA REFINERY • The Wabowden Project will have the potential to fill the Ta Khoa Ta Khoa Nickel Refinery, removing dependence on 130Mt @ 0.37% Ni for 485kt Ni 1 third pa
Slide 14: Transaction Terms
TRANSACTION TERMS Looking forward. Mining green. STRATEGIC OPTIONALITY AND ATTRACTIVE ACQUISITION TERMS • 12-month option period EXCLUSIVE • One-off option payment of C$1.1m (rebated from acquisition price) OPTION • Blackstone can exercise option at any time • Acquisition terms agreed with asset pur
Slide 15: Equity Raising Overview
EQUITY RAISING OVERVIEW Looking forward. Mining green. PRO-RATA ENTITLEMENT OFFER TO SUPPORT BLACKSTONE’S PROGRESS • 4-for-13 pro-rata accelerated non-renounceable entitlement offer to raise gross proceeds of $10.2m (“Offer”) Offer Structure • Approximately 145.8m new fully paid ordinary shares (“Ne
Slide 16: Use of Funds and Pro-Forma Capital Structure
USE OF FUNDS AND PRO-FORMA CAPITAL STRUCTURE Looking forward. Mining green. FUNDS FOR WABOWDEN OPTION AND PROGRESS KEY TA KHOA MILESTONES SOURCES & USES PRO-FORMA CAPITAL STRUCTURE Sources A$m Unit Current Pro Forma Cash (30-Sep-23) 6.0 Existing Shares on Issue M 473.7 619.4 Entitlement Offer1 10.2
Slide 17: Indicative Timetable
INDICATIVE TIMETABLE Looking forward. Mining green. SETTLEMENT OF THE INSTITUTIONAL OFFER OCCURS ON TUESDAY, 12 DECEMBER 2023 Institutional Entitlement Offer and Institutional Bookbuild Offer announcement Tuesday 5 December 2023 Institutional Offer Opens Tuesday 5 December 2023 Institutional Offer c
Slide 18: Summary
SUMMARY Looking forward. Mining green. ATTRACTIVE INVESTMENT PROPOSITION Wabowden is a globally significant nickel asset located in a Tier 1 jurisdiction Attractive option and acquisition terms provide Blackstone significant upside and value Wabowden provides significant optionality and can remove B
Slide 19: Join the Blackstone Minerals InvestorHub
Looking forward. Mining green. Join the Blackstone Minerals InvestorHub 1. Head to our Investor Hub or scan the QR code with your smart device 2. Follow the prompts to sign up for an Investor Hub Account ASX:BSX 3. Complete your account profile and link your shareholdings if you are a current www.bl
Slide 20: Appendix: Corporate Snapshot
APPENDIX: CORPORATE SNAPSHOT Looking forward. Mining green. ANALYST COVERAGE BSX BLSTF 473.7m Deutsche Balaton ASX Code OTCQX Code Shares on Issue 15% Fidelity 8% A$0.087 A$41.2m A$6.0m Last Share Price Market Capitalisation Cash as at Minority Nanjia/Civetta (30 November 2023) 30 September 2023 Sha
Slide 21: Appendix: Wabowden Project Resources
APPENDIX: WABOWDEN PROJECT RESOURCES Looking forward. Mining green. Deposit Tonnes Ni Grade Contained Ni (t) 0.2% Nickel Cut-off Grade Bucko 79,766,697 0.61% 482,589 Bowden 134,525,200 0.51% 682,177 M11A 7,245,100 0.87% 63,358 Apex 3,264,913 0.48% 15,659 Halfway Lake 5,560,350 0.86% 47,908 Total 230
Slide 22: Appendix: World Class Thompson Nickel Belt
Looking forward. Mining green. APPENDIX: WORLD CLASS THOMPSON NICKEL BELT >2.5MT OF NICKEL PRODUCTION OVER >50 YEARS • The Thompson Nickel Belt (TNB) is the fifth largest nickel sulphide camp in the world • Greater than 2.5Mt of historical nickel production • The main Thompson group of nickel sulphi
Slide 23: Appendix: Nickel Supply & Demand Balance
Looking forward. Mining green. APPENDIX: NICKEL SUPPLY & DEMAND BALANCE NICKEL SUPPLY DEFICIT BY 2028 • Short term supply outlook heavily influenced by rapid expansion of Indonesian supply (Class 2), with surplus expected over the short term • Long term Indonesian supply growth not able to keep up w
Slide 24: Key Risks
KEY RISKS Looking forward. Mining green. The Sha res offered under the Prospectus shoul d be considered specula ti ve because of the nature of It is not possible to predi ct what the value of the Company, a Sha re will be following the completion of the Company’s business. There a re numerous risk f
Slide 25: Key Risks (cont.)
KEY RISKS (CONT.) Looking forward. Mining green. Contractual and joint venture risks The Company ma y seek to raise further funds through equity or debt financi ng, joint ventures or other means. The Company’s ability to effi cientl y conduct i ts operati ons in a number of respects depends upon thi
Slide 26: Key Risks (cont.)
KEY RISKS (CONT.) Looking forward. Mining green. Investment in Emerging Markets The Vietna mese economy is vulnerable to ma rket downturns and economi c slowdowns elsewhere in the Some of these jurisdi ctions ha ve experienced, and ma y continue to experience, signi ficant poli ti cal and world, and
Slide 27: International Offer Jurisdictions
INTERNATIONAL OFFER JURISDICTIONS Looking forward. Mining green. New Zealand loca ted outside Canada and, as a resul t, i t ma y not be possible to sa tisfy a judgment agains t the Company or such persons i n Canada or to enforce a judgment obtained i n Canadian courts a gainst the Company or The Sh
Slide 28: International Offer Jurisdictions
INTERNATIONAL OFFER JURISDICTIONS Looking forward. Mining green. Singapore ci rcums tances tha t amount to an offer to the publi c i n Hong Kong wi thin si x months followi ng the da te of i s sue of such securities. This document and any other materials rela ting to the new Sha res ha ve not been,
Slide 29: Undeveloped Nickel Sulphide Projects
UNDEVELOPED NICKEL SULPHIDE PROJECTS Looking forward. Mining green. SUPPORTING INFORMATION R esource R esource M&I R esource M&I I nferred I nferred I nferred Pr oject Owner Development Stage M&I So urce To nnes Co ntained To nnes G r ade Co ntained G r ade Waterton Global Resource Company Release -
Slide 30: Undeveloped Nickel Sulphide Projects
UNDEVELOPED NICKEL SULPHIDE PROJECTS Looking forward. Mining green. SUPPORTING INFORMATION R esource R esource M&I R esource M&I I nferred I nferred I nferred Pr oject Owner Development Stage M&I So urce To nnes Co ntained To nnes G r ade Co ntained G r ade Zanzui Echelon Minerals Ltd. Reserves Deve
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