Hastings Technology Metals Limited · ASX:HAS
Hastings Technology Metals — Investor Presentation (October 2023)
33 slides from Hastings Technology Metals's investor presentation, Oct 5, 2023
Slide 1: FY23 year in review
Australia’s Next Rare Earths Producer Corporate Presentation FY23 year in review Picture: Kurrbili Village FY23 year in review | 1 Hastings Technology Metals Limited | ASX : HAS 5 October 2023
Slide 2: Importance notices and disclaimer
Importance notices and disclaimer All currency amounts are in A$ unless stated otherwise Disclaimer Competent Persons’ Statement This presentation has been prepared by Hastings Technology Metals Limited (“Company” or “Hastings”). This presentation The information in this release that relates to Mine
Slide 3: FY23 year in review
FY23 year in review FY23 year in review | 3 Picture: Maiden flight landing at Yangibana Airstrip (18 May 2023)
Slide 4: A pivotal year
A pivotal year Significant progress made over the past 12 months to support pathway to first concentrate production Q1 Q2 Q3 Q4 Q1 FY24 $110m capital raise via two Mineral Resource upgrade to Appointment of Teck Lim as $210m EPC contract for Appointment of Paul Brown as tranche placement and SPP 29.
Slide 5: FY23 financial summary
FY23 financial summary1 Early works completed to accelerate development of the Yangibana rare earths project in FY24 $260 million $106 million $150 million Capital raised in FY23 – $110 million equity Invested in early infrastructure works at Invested in Neo to support Hastings’ mine to raise and $1
Slide 6: Yangibana Project progress
Yangibana Project progress All primary approvals in place and $106m already invested in early infrastructure works 22% of Stage 1 capital cost already spent on early infrastructure works Kurrbili Village – complete SipHon Well Borefield – complete 294 beds, new admin building, mess, medical 30km pip
Slide 7: FY23 cashflow movements
FY23 cashflow movements1 Significant investment into early infrastructure works at Yangibana and purchase of 20% shareholding in Neo Early works/ infrastructure - Village - Airstrip - Borefield - Access Road - LLT items - Onslow costs Purchase of 20% in Neo 150.0 Wyloo 106.6 Funding Equity Dividends
Slide 8: Project update
Project update FY23 year in review | 8
Slide 9: Yangibana Rare Earths Project
Yangibana Rare Earths Project Stage 2 Hydrometallurgical plant Halls Positioning Hastings to become a significant supplier of critical minerals Creek needed to power the energy transition Broome Port Hedland Two stages 17-year mine life Dampier Stage 1 – Mine and beneficiation plant Ore Reserve – 20
Slide 10: Beneficiation plant EPC contract
Beneficiation plant EPC contract1 Fixed-price contract for construction of beneficiation plant and associated infrastructure $210 million contract Engineering, Procurement and Construction (EPC) contract with GR Engineering Services, Including fixed price portion of $180 million Lower cost Compared
Slide 11: Stage 1 execution schedule
Stage 1 execution schedule Enhanced staged development strategy enabling a quicker pathway to cashflow 2023 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EPC contract executed Enabling Works Start of main (Airstrip, Roads, Village) construction Utilities and services First concentra
Slide 12: Resource and Reserve development
Resource and Reserve development Significant exploration targets providing growth optionality Yangibana Project Mineral Resources and Ore Reserves1 Yangibana Project – total JORC Mineral Resources (30 Oct 22)1 %Nd2O3+ TREO Category Mt %TREO Pr6O11 tonnes 60 Measured 4.97 0.96 0.37 47,721 Indicated 1
Slide 13: Exploration potential
Exploration potential Only ~50sqkm drilled out compared to a total tenement area of ~650sqkm 66km strike length Significant exploration upside with only one-third of strike length (24km) defined as a Resource Exploration focus Expanding mine life beyond initial 17 years to build long-term value for
Slide 14: Financials, economics and ESG
Financials, economics and ESG FY23 year in review | 14
Slide 15: Updated stage 1 metrics
Updated stage 1 metrics1 Results of comprehensive project delivery and capital review in H1 2023 reaffirming attractive project economics 17 years 37,000 tpa Life of mine Production (stage 1 concentrate) $470m $106m Stage 1 capital cost Costs incurred (as at 30 June 2023) $530m - $1,010m 27.5% - 50.
Slide 16: Corporate structure
Corporate structure Separate ring-fenced funding structures, with Wyloo convertible note secured over Neo shares Hastings Technology Metals Limited (ASX: HAS) 100% 100% Commentary • The Yangibana Project encompasses 100% Gascoyne Metals Pty HTM Investments owned tenements through Yangibana Pty Ltd L
Slide 17: Basket price analysis
Basket price analysis Based on market consultants and the expected Yangibana elemental composition Elemental basket price Elemental basket price (US$/kg TREO) (real $2023) Market Consultant $US/kg TREO 80 High NdPr:TREO 70 Up to 52% NdPr in TREO composition in 2-year Historical Average Actual 48.1 c
Slide 18: Concentrate and MREC offtake from thyssenkrupp
Concentrate and MREC offtake from thyssenkrupp Offtake discussions focused on parties with existing hydrometallurgical facilities in Australia and Asia Offtake contract for two-thirds of production MREC : Heads of Agreement / MOU Counterparty thyssenkrupp Materials Trading1 Neo Performance Materials
Slide 19: Funding update
Funding update Significant progress on funding pathway Staged development Completion of Credit commitments feasibility study independent due diligence reports (Jan – May 2023) (Jun – Sep 2023) (Oct – Dec 2023) Comprehensive project delivery Independent Technical Expert (ITE) Indicative commitm
Slide 20: Leading ESG credentials
Leading ESG credentials Outperforming our peers and competitors in sustainability performance Ranked fourth out of 159 Gold Rating – ranked in top five companies in 2022 diversified per cent of companies assessed metals mining subindustry category Formal supporter of the Participant in the Ten Princ
Slide 21: Mine to magnet strategy
Mine to magnet strategy FY23 year in review | 21
Slide 22: Hastings mine-to-magnet strategy
Hastings mine-to-magnet strategy Focused on the staged delivery of the Yangibana Project, with optionality to pursue mine-to-magnet business strategy Stage 1 Stage 2 Stage 3 Mine and beneficiation plant Hydromet plant Mine to magnet strategy Mining Beneficiation Hydrometallurgy Oxide separation RE m
Slide 23: Investment in TSX-listed Neo Performance Materials
Investment in TSX-listed Neo Performance Materials 20% strategic shareholding provides opportunity to create an integrated mine to magnet supply chain Leading global manufacturer of rare earth elements • Owns the only operating commercial rare earth separation facility in Europe, with additional fac
Slide 24: Investment highlights
Investment highlights Yangibana is positioned to supply neodymium and praseodymium needed for permanent magnets for the global energy transition (EVs and wind turbines) and advanced technologies Strong market fundamentals World-class tier 1 asset Development ready NdPr is critical to the global ener
Slide 25: Appendix
Appendix FY23 year in review | 25
Slide 26: Board of directors
Board of directors Highly experienced and credentialed board Guy Robertson Charles Lew Jean Claude Steinmetz Finance Director Executive Chairman Non-Executive Director Joint Company Secretary • Took over HAS in December 2013 and appointed Chairman • Joined the Board in July 2016 • Served on the Boar
Slide 27: Senior management team
Senior management team Paul Brown Teck Lim Tim Gilbert Chief Executive Officer Chief Financial Officer GM Operations • Mining engineer with over 20 years' experience across a range of senior • Chartered accountant with 20 years’ accounting and finance • Senior mining executive with over 40 years’ ex
Slide 28: Unique tier 1 asset
Unique tier 1 asset World-class deposit with unrivalled high percentage of NdPr:TREO in the orebody in a tier one jurisdiction, supplying the critical raw materials for rare earth magnets Average NdPr:TREO Ratio1 NdPr are critical elements Sichuan (China) 14% of the global energy transition Mt Pass
Slide 29: Capitalising on high growth market
Capitalising on high growth market Fueled by the electrification trend – strong growth in NdFeB sintered magnets for electric vehicles and wind turbines Anticipated global REO magnet demand growth by industry1 216kt Key drivers for rare earths • Electric drivetrains and wind energy to represent 59%
Slide 30: Strong demand and supply deficit
Strong demand and supply deficit Significant NdPr supply deficit expected – requiring around 13x Yangibana Projects in the next decade NdPr Oxide – Forecast Supply – Demand Balance Supply Demand Demand • Demand for NdPr oxide expected double over Forecast the next decade, fuelled predominantly by Q2
Slide 31: Two-stage delivery model
Two-stage delivery model Supporting the pathway to becoming Australia’s next rare earths producer by Q2 CY2025 Stage 1 Stage 2 Yangibana Project mine and beneficiation mine plant plant1 and beneficiation Hydrometallurgical plant Mining Beneficiation Hydrometallurgy 20.9Mt Ore Reserve for 17- Crushin
Slide 32: Peer comparison
Peer comparison Average NdPr:TREO ratio over the Life of Mine Mine Ownership Ticker NdPr:TREO ratio Source Yangibana Hastings Technology Metals Ltd HAS:ASX 37% 6 February 2023: ASX Announcement: “Yangibana Ore Reserves Increase by 25%” 5 July 2022: SEDAR Announcement: “Mkango Announces Results of De
Slide 33: Australia’s next rare earths producer
Australia’s next rare earths producer PERTH SINGAPORE Level 6, 197 St Georges Terrace 10 Anson Road Perth WA 6000 #19-02 International Plaza ASX : HAS T: +61 8 6117 6118 Singapore 079903 hastingstechmetals.com FY23 year in review | 33 E: info@hastingstechmetals.com
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