Asarian Energy Limited · TSX:ARN
Asarian Energy — Forsys Metals — Investor Presentation (January 2023)
19 slides from Asarian Energy's investor presentation, January 2023
Slide 1: Advancing one of the largest permitted undeveloped uranium projects in the world
JANUARY 2023 Advancing one of the largest permitted undeveloped uranium projects in the world
Slide 2: Forward-Looking Statements
Forward-Looking Statements The data contained in this presentation is provided for information purposes only. Certain information has been compiled from sources believed to be reliable. No information in this presentation is to be construed as an offer to buy or sell securities. The reader agrees to
Slide 3: A Renewed Focus for Growth
A Renewed Focus for Growth ▪ Acquiring and developing mineral ▪ Well capitalized ▪ Strong Board and executive team with properties in Namibia flat structure ▪ Years of building strong relationships ▪ Focused on advancing its Norasa Project ▪ Poised to acquire further local mineral in Namibia with ke
Slide 4: Nearing End of Development Process
Nearing End of Development Process Care & maintenance period following Fukushima Award 25yr Mining Fukushima Norasa DFS Completed C$13M Appointed Namibia TSX listing Released based Ops team License (ML149) event bought deal 2006/7 2008 /9 2011 2012/13 2015 2021 2022/3 2005 to 2007 2008 2009 to 2011
Slide 5: Norasa: Forsys Metals' Flagship Project in Namibia
Norasa: Forsys Metals’ Flagship Project in Namibia ▪ Norasa (comprising Valencia and Namibplaas sites), is potentially one of the largest, fully permitted uranium projects in the world; ▪ Potential to become one of the Top Tier uranium mines in the world; ▪ Most permits, licences and infrastructure
Slide 6: Norasa Potentially the Largest Permitted Uranium Project
Norasa Potentially the Largest Permitted Uranium Project Uranium Projects in Development Uranium Projects in Development by Annual Production Mlbs U3O8 by Uranium Reserves Mlbs U3O8 5.2 90.7 68.4 3.8 3.5 60.3 57.1 3.1 3.0 2.7 47.2 2.4 2.4 42.3 Norasa DASA Etango Mulga Rock Tumas Madaouela Matanga Le
Slide 7: Potential to become a Future Tier 1 Uranium Mine
Potential to become a Future Tier 1 Uranium Mine Largest Uranium Mines by Production (Mlbs U3O8) in 2020 Potential to become 8th largest uranium mine in the world 10.1 10.1 9.1 8.0 7.4 7.0 6.4 5.2 4.9 4.7 4.3 Cigar Lake Husab Central Mining Olympic Dam Katco Inkai Karatau Norasa Somair Beverley Röss
Slide 8: Summary of 2015 Definitive Feasibility Study (DFS)
Summary of 2015 Definitive Feasibility Study (DFS) ❖ Mine Life: 15 years ❖ Total Reserve: 90.7 Mlb (5.2Mlbs/year) ❖ Net Revenue: $5,056.8m ❖ Operating Cash flow: $1.751bn ❖ Operating Costs/lb $34.72 ❖ Pre-Tax NPV: $622.6m ❖ Pre-Tax IRR: 32% ❖ Payback Period: 4.4 years ❖ Production CAPEX: $432.8m ❖ C
Slide 9: Tremendous Leverage to Rising Uranium Prices
Tremendous Leverage to Rising Uranium Prices Pre-Tax NPV8% (US$ million) 89% increase in NPV at $1,175.0 US$15/lb higher price $990.9 $806.7 $622.6 $438.4 $60 $65 $70 $75 $80 Uranium Price (US$/lb U3O8) Tremendous leverage to rising long-term uranium contract prices (no adjustment to DFS mine plan)
Slide 10: Capital Markets Profile
Capital Markets Profile Capital Structure Share Ownership Share Performance of Canadian-Listed Uranium Companies (since Dec 31, 2020) Tickers TSX: FSY, FSE: F2T, NSX: Virginia 236% FSY Global Atomic 148% Forsys Cameco 113% 84% Share Price (Jan 16, 2023) C$0.51 IsoEnergy 80% Fission 74% 52-Week Tradi
Slide 11: Experienced Management & Board
Experienced Management & Board Mark Frewin │ CEO (since 2019) and Director (since 2005) Martin Rowley │ Chairman (since 2007) ▪ Over 35 years of legal experience (both in practice and corporate) with focus ▪ Over 40 years experience in mining projects globally on mining sector transactions ▪ Served
Slide 12: Experienced Project Team in Namibia
Experienced Project Team in Namibia Barbara Mulcahy, Lead process Engineer, Owners Team Pine van Wyk│ Project Leader- Norasa Uranium ▪ Process engineering consultant with over 26 years experience in the metallurgical ▪ Qualified Metallurgical Engineer with over 25 years project experience in African
Slide 13: Norasa is Located in Namibia's Uranium District
Norasa is Located in Namibia’s Uranium District ❖ Namibia is Politically stable, low risk & mining friendly Norasa is situated in the Erongo Region ▪ Government regulation & support to grow mining sector ▪ Fair and balanced tax system Marenica Project Norasa Project ▪ Fraser 2021 Survey of mining ju
Slide 14: Valencia and Namibplaas Uranium Deposits
Valencia and Namibplaas Uranium Deposits Both sites are modelled on open pit designs in the DFS: Valencia Reserves Estimate Classification Mt Grade ppm Mlbs U3O8 U3O8 Proven 16 200 7.1 Probable 139 200 61.3 Total Reserve 155 200 68.4 Namibplaas Reserves Estimate Classification Mt Grade ppm Mlbs U3O8
Slide 15: Overview of Development Plan
Overview of Development Plan ▪ Appointed highly experienced project team in Namibia under Pine van Wyk to drive project locally; ▪ Team includes respected process engineers, mining consultants; geologists and EIA consultants; licence and infrastructure specialists; ▪ Program of review work to update
Slide 16: Mine Planning Review
Mine Planning Review Update, remodel and review key inputs: GEOTECH DATA REMODELLING AUGUST Q4 2022 2023 • Pit shell design • Production rate • Ore handling • OPEX/COST requirements • Slope parameters • Engineering design • Leaching • Mining contractors RFQ • Bore hole mapping • Equipment selection
Slide 17: Project Licences /Permits
Project Licences /Permits ▪ Valencia issued with Mining Licence valid until June Norasa Major Permits 2033 Permit Issued By Date Received Action Required ▪ Namibplaas application submitted for a 25 year Mining Mining Licence Ministry of Mines and 23-Jun-08 No action (Valencia) Energy License in Sept
Slide 18: Reasons to Invest in Forsys
Reasons to Invest in Forsys ➢ Forsys’ Norasa is potentially the world’s largest fully permitted uranium project ➢ Norasa would potentially become 8 th largest uranium project in the world ➢ Currently reviewing 2015 DFS with intention to further improve compelling economics ➢ Namibia is 2nd largest u
Slide 19: Contact Information
NYSE AMERICAN & TSX:VGZ Contact Information www.vistagold.com Richard Parkhouse │ Director of Investor Relations ▪ Email: info@forsysmetals.com ▪ Email: rparkhouse@forsysmetals.com ▪ Telephone: +44 (0) 1252 781 030 ▪ Mobile: +44 7730493432 forsysmetals.com 19 TSX:FSY