Altamin Limited · ASX:AZI
Altamin — Investor Presentation (October 2024)
43 slides from Altamin's investor presentation, Oct 31, 2024
Slide 1: Capital Raising Presentation – 31 October 2024
NOT FOR RELEASE TO U.S. WIRE SERVICES OR rsonal use only DISTRIBUTION IN THE UNITED STATES ASX: AZI ALTAMIN LIMITED ABN: 63 078 510 988 Capital Raising Presentation – 31 October 2024
Slide 2: Disclaimers
Disclaimers Important Information and Disclaimer Not an offer The following notice and disclaimer applies to this investor presentation (“Presentation”) and you are therefore advised to read this carefully Neither this Presentation nor any of its contents will form the basis of any understanding, pr
Slide 3: Disclaimers
Disclaimers Past performance Investment risk Past performance metrics and figures (including past share price performance of AZI), as well as pro forma financial information, included in There are a number of risks specific to the Entitlement Offer, Altamin and of a general nature which may affect t
Slide 4: Disclaimers
Disclaimers JORC Code Information in this Presentation It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Statements made in this Presentation are made only as at the date of this Presentation. The information
Slide 5: Executive Summary
rsonal use only Executive Summary Overview of Altamin, Recent Developments, New Strategic Direction and Capital Raising
Slide 6: Overview of Altamin – Key Points
Overview of Altamin – Key Points Altamin Limited (Altamin, ASX:AZI) is focused on the evaluation and development of critical and strategic mineral projects in Italy. Proposed acquisition of a 100% interest in the Gorno Project facilitates realisation of value and limits dilution risk.* rsonal use on
Slide 7: Recent Developments & New Strategic Direction
Recent Developments & New Strategic Direction Recent Developments New Strategic Direction rsonal use only Altamin to acquire Appian’s 29.85% in Vedra Metals Srl (Vedra), the #1: Maximise value from Gorno while minimising dilution risk. special purpose joint-venture company established for the Gorn
Slide 8: Company Projects
rsonal use only Company Projects Gorno Project and Lazio Project
Slide 9: Gorno Project – Background and Transaction Details
Gorno Project – Background and Transaction Details Management estimates that the Gorno ML application could be submitted by June 2025 and thereafter the timing for award of a ML and approvals before FID can vary substantially. rsonal use only Funding before FID could therefore change materially
Slide 10: Gorno Project – Likely Next Steps
Gorno Project – Likely Next Steps* Under the transaction terms, Altamin will immediately initiate a sales process for the Vedra and rsonal use only Gorno assets. In tandem, Altamin will evaluate re-commencing the ML workstreams (pending the outcome of the current Cime EL process) for submission
Slide 11: Gorno Project – Benefits of the Appian Transaction
Gorno Project – Benefits of the Appian Transaction* Acquisition of the 100% interest enables Altamin to minimise the dilution from further pre-FID funding under the Vedra SJVA terms rsonal use only Altamin gains greater control over value realisation for shareholders. The sales process for the
Slide 12: Gorno Project Upside
Gorno Project Upside Recent channel sampling returned high-grade assays from areas outside the ore block model (OBM) rsonal use only of the existing JORC resource. Highlight assay results include: o VCH017: 2.8m @ 43.2% Zn, 6.5% Pb, 68g/t Ag o VCH067: 2.4m @ 44.2% Zn, 10.2% Pb, 175g/t Ag o VCH09
Slide 13: Lazio Project – New Strategic Focus
Lazio Project – New Strategic Focus Internal business plan using available data from geothermal exploration drilling and reservoir testing rsonal use only and conceptual analysis of engineering flowsheets for SOP and lithium indicates significant potential value. MOU with IREN has been extended
Slide 14: Why Lazio is Appealing and Next Steps
Why Lazio is Appealing and Next Steps Key Positives rsonal use only Lazio is a unique geothermal brine project host to potentially significant quantities of potassium potentially capable of producing SOP and lithium in the EU using environmentally friendly methods. Extensive pilot testing in the 197
Slide 15: Lazio Project – Indicative Timeline
Lazio Project – Indicative Timeline* Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q1 2027 Q2 2027 Location Study rsonal use only Dynamic Model DRILLING EIA Well Pad Design, RFP, drill contract award Environmental Permits Test Drilling & Dynamic Model Update Q4 2024 Q1 2025
Slide 16: Capital Raising
rsonal use only Capital Raising Details of the Entitlement Offer
Slide 17: Details of the Entitlement Offer
Details of the Entitlement Offer • Accelerated non-renounceable 4-for-5 entitlement offer to eligible shareholders1 to raise up to approximately $8.4 million (“Entitlement Offer”). Offer Size and • Up to approximately 351 million new fully paid ordinary shares (“New Shares”) to be issued under the E
Slide 18: Sources and Uses
Sources and Uses Maximum Subscription1 Commitment Only Subscription1 100% take-up of the Entitlement Offer by eligible shareholders No take-up of the Entitlement Offer by eligible shareholders other than VBS subscribing for 87,843,832 New Shares rsonal use only TOTAL OFFER PROCEEDS RECEIVED 8,426 2,
Slide 19: Indicative Timetable
Indicative Timetable Event Date Trading halt and announcement of the Entitlement Offer Thursday, 31 October 2024 rsonal use only Institutional Entitlement Offer opens Thursday, 31 October 2024 Announce results of the Institutional Entitlement Offer Friday, 1 November 2024 Trading halt lifted and sha
Slide 20: Pro Forma Capital Structure & Financial Position
Pro Forma Capital Structure & Financial Position rsonal use only Item Unit Current Entitlement Offer1 Proforma Position Number of Ordinary Shares M 439 351 790 Market Capitalisation At Offer Price $M $10.532 $8.426 $18.958 Cash & Equivalents (as of 30 Sep 2024) $M $0.676 $8.426 $9.102 Debt (as of 30
Slide 21: Potential Control Implications of the Entitlement Offer
Potential Control Implications of the Entitlement Offer Victor Smorgon Group is the Company’s largest shareholder with voting power of 43.38% of the Company. VBS Exchange (a member of Victor Smorgon Group) has committed to subscribe for at least $2.108 million (87,843,312 New Shares at $0.024 per
Slide 22: Ownership & Management
Ownership & Management Ownership (Prior to Entitlement Offer) Board of Directors rsonal use only Alexander Burns | Executive Chairman Mr Burns was Managing Director of Sphere Minerals Limited from 1998 – 2010. During this period, the company acquired and evaluated iron ore properties in Mauritania,
Slide 23: Altamin Limited
Altamin Limited Level 3, Suite 3.5 9 Bowman Street rsonal use only South Perth, WA 6151 Australia T: +61 (0)8 9321 5000 E: info@altamin.com.au www.altamin.com.au ACN: 078 510 988
Slide 24: Gorno Mineral Resource Estimate
Gorno Mineral Resource Estimate JORC Tonnes Zinc Total Lead Total Silver Domain rsonal use only Classification kt % kt % kt g/t koz Indicated 5,000 6.7 335 1.7 86 33 5,380 Sulphide Inferred 2,060 7.2 149 1.8 38 31 2,040 Subtotal 7,060 6.9 484 1.8 124 33 7,420 Indicated 670 6.0 40 1.8 12 26 560 Oxide
Slide 25: Lazio Mineral Resource Estimate
Lazio Mineral Resource Estimate LCE1 SOPE2 Volume Lithium (Li) Boron as Boric Acid Potassium (K) rsonal use only Category (Li2CO3) (K2SO4) k m3 mg/l kt kt mg/l kt mg/l kt kt Indicated 8,145,000 190 39 208 7,500 1,500 84,000 17,500 39,025 Inferred 150,556,000 90 352 1,874 9,700 36,800 22,000 84,000 1
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Slide 27: Key Risks
Key Risks This section details important factors and risks that could affect the financial and operating performance of the Company. You should consider these factors in light of your personal circumstances, including financial and taxation issues, before making a decision in relation to your Entitl
Slide 28: Key Risks
Key Risks The last closing trading price of Shares on ASX on the day prior to the date of announcement of the Entitlement Offer of $0.03 on 30 October 2024 is not a reliable indicator as to the potential trading price of Shares following completion of the Entitlement Offer. rsonal use only Sharehold
Slide 29: Key Risks
Key Risks There is no guarantee that these conditions can be satisfied in a reasonable time, if at all. Whilst Altamin is confident that it is able to satisfy its obligations under the Term Sheet, a termination fee of US$500,000 is payable by either Appian or Altamin in certain circumstances where c
Slide 30: Key Risks
Key Risks Project permitting and other regulatory approvals There is a risk that a Gorno Mining Licence is required to implement a sale, or if a sale is unsuccessful, to progress the Gorno Project to FID. The Company is engaged with relevant Italian authorities and consultants to best definine the t
Slide 31: Key Risks
Key Risks Exploration Exploration, by its nature, contains elements of significant risk. Ultimate success depends on the discovery and delineation of economically recoverable mineral resources, establishment of an efficient exploration operation and obtaining customary rsonal use only permitting and
Slide 32: Key Risks
Key Risks The Company has identified a significant Mineral Resource estimate at the Lazio Project of approximately 392 kt of lithium metal or 2,087 kt of lithium carbonate equivalent (LCE), 38,400 kt of boron as boric acid, and 101,500 kt of potassium or 226,345 kt of sulphate of potash equivalent (
Slide 33: Key Risks
Key Risks Development risks Possible future development of a mining operation at the Company’s projects is dependent on a number of factors including, but not limited to, the acquisition and/or delineation of economically recoverable mineralisation, favourable geological rsonal use only conditions,
Slide 34: Key Risks
Key Risks Personnel and labour risks The Company’s success depends to a significant extent upon key management personnel, as well as other management and technical personnel, including those employed on a contractual basis. The loss of the services of certain personnel could rsonal use only adversel
Slide 35: Key Risks
Key Risks Environmental and climate risks The operations and proposed activities of the Company are subject to laws and regulations concerning the environment. As with most exploration projects and mining operations, the Company’s activities are expected to have an impact on the rsonal use only envi
Slide 36: Key Risks
Key Risks Licence to operate Poor environmental, social and governance (ESG) decisions, implementation of policies or practices can materially adversely impact a Company’s social licence to operate. rsonal use only The Company’s continued reputation as a corporate citizen with the support of local s
Slide 37: Key Risks
Key Risks General economic and market conditions The operating and financial position of the Company is influenced by a range of general domestic and global economic and business conditions that are outside the control of the Company. These conditions may include, but are not limited to, political r
Slide 38: International Offer Jurisdictions
International rsonal use only Offer Jurisdictions Australia, Belgium (institutional investors only), China (institutional investors only), Germany, Hong Kong, Italy, Japan, New Zealand, the Philippines, Singapore, Slovakia, Switzerland and the United Kingdom
Slide 39: International Offer Jurisdictions
International Offer Jurisdictions This document does not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Australia except to t
Slide 40: International Offer Jurisdictions
International Offer Jurisdictions Hong Kong WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures rsonal use only Commis
Slide 41: International Offer Jurisdictions
International Offer Jurisdictions Japan The New Shares have not been and will not be registered under Article 4, paragraph 1 of the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948), as amended (the “FIEL”) pursuant to an exemption from the registration rsonal use only requirement
Slide 42: International Offer Jurisdictions
International Offer Jurisdictions Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. rsonal use only Accordingly, this document and any other document o
Slide 43: International Offer Jurisdictions
International Offer Jurisdictions Switzerland rsonal use only The New Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange or on any other stock exchange or regulated trading facility in Switzerland. Neither this document nor any other offering or market