Pacific Lime And Cement Limited · ASX:PLA
Pacific Lime And Cement — Investor Presentation (April 2022)
38 slides from Pacific Lime And Cement's investor presentation, Apr 4, 2022
Slide 1: ASX Announcement: Investor Presentation – Spin Out of Ortus Resources
ASX Announcement 4 April 2022 Investor Presenta�on – Spin Out of Ortus Resources including the Orokolo Bay Iron & Industrial Sands Project Mayur Resources Limited (ASX:MRL) is pleased to release the atached Investor Presenta�on rela�ng to the proposed spin out of its subsidiary Mayur Iron, into a ne
Slide 2: Developing a Low Cost, Net Zero carbon Iron Ore & Industrial Sands business
Developing a Low Cost, Net Zero carbon Iron Ore & Industrial Sands business April 2022 Investor Presentation Not for distribution in the United States
Slide 3: Disclaimer
Disclaimer Important notice and disclaimer This presentation (Document) has been prepared by Mayur Resources Limited (Mayur Resources) in relation to Mayur's wholly owned subsidiary, MR Iron PNG Pte. Ltd. Mayur Iron and together with Mayur Resources, Mayur). This Document contains summary informatio
Slide 4: Disclaimer (cont.)
Disclaimer (cont.) Confidential, no further distribution The information contained in this Document is confidential and is only being made available on a confidential basis. Recipients must establish and maintain effective security measures to safeguard access to or use of the information contained
Slide 5: Background & Value Proposition
Mayur Resources is contemplating a spin-off of its subsidiary Mayur Iron, to be rebranded Ortus Resources Background & Value Proposition Current Planned • Mayur Resources Ltd (ASX:MRL) is a listed diversified mining company with a suite of construction-ready assets in PNG • MRL is pursuing a spin-of
Slide 6: Proposed Spin out Strategic rationale
Proposed Spin out Strategic rationale ✓• In principle Mayur Resources Board support confirmed ✓• Logical separation of Mayur Iron from its Renewables and Industrials businesses, allowing shareholders to ✓• Reviewing regulatory requirements and approvals (ASX, gain separate exposure to different vert
Slide 7: Why Papua New Guinea?
Why Papua New Guinea? Port Moresby Strategically located between Natural Resources are Favourable mining Emerging market China and Australia, PNG is critical to the PNG economy regulations growth opportunities embarking on a growth trajectory already experienced • Strong track record of resource/ene
Slide 8: Mayur Resources - deep experience in PNG
Mayur Resources - deep Developing projects across PNG for over a decade experience in PNG Map of Mayur Resources key projects • Mayur Resources has been developing a nation building project portfolio across PNG over the last 10 years including: PORGERA (AU) RAMU (NI) KIMBE OK TEDI (AU/CU) KAINANTU (
Slide 9: Ortus Resources - Investment Highlights
Ortus Resources - Investment Highlights 1 • Orokolo Bay is a fully-permitted, construction-ready project in PNG targeting production in H1 2023 Orokolo Bay is the • Expected to produce multiple products including magnetite iron ore, DMS, construction sands and zircon concentrate flagship project • O
Slide 10: Orokolo Bay Iron & Industrial Sands Project
Orokolo Bay Iron & Industrial Orokolo Bay and surrounding tenements Sands Project Fully permitted, construction underway • 25-year Environmental Permit in place for the Project • Mining Lease granted in December 20211, main construction work to PORT MORESBY KEREMA commence in 2022, targeting initial
Slide 11: HBS Group – Our Delivery Partner & Investor
HBS has established contracts with major mining companies HBS Group – Our Delivery across PNG Partner & Investor SIMBERI MINE LIHIR MINE • HBS has ‘skin in the game’ as a cornerstone investor in Ortus with a 20% shareholding • Established in 2006, HBS (PNG) has national coverage FRIEDA RIVER PROJECT
Slide 12: Mining Overview
Mining Overview Mine plan sequence At surface deposit facilitates a simple mining process At surface deposit facilitates simple mining process: 1. Clearing/ripping and stockpiling of topsoil and vegetation 2. Prior to mining closely spaced infill drilling to be undertaken to optimise mining process
Slide 13: Processing Overview
Processing Overview Process flow sheet for Orokolo Bay^ Tried and tested Process Flow Sheet • Significant metallurgical testing program via large bulk samples • Process Flow Sheet similar to the established and proven Taharoa iron sands mine in New Zealand • Previous Taharoa team integral in process
Slide 14: Logistics Chain Overview
Purari River Logistics Chain MINING LEASE Overview A B Simple, low capital cost logistics • Simple low cost and flexible barging and transshipping solution modelled on Indonesian operations • PNG’s timber industry is currently operating barges in C the Purari River as well as other nearby river syst
Slide 15: Orokolo Bay products and target markets
Orokolo Bay products and target markets Magnetite to Japan Annual Production: Term sheet now in place with major Japanese Magnetite 500 ktpa Magnetite to China trading house for supply of magnetite from Orokolo Construction Sands 1 Mtpa Bay Zircon concentrate Zircon concentrate ~10 ktpa to China ORO
Slide 16: Robust economics
Robust economics Orokolo Bay financial model - March 2022 update March 2022 DFS Financial Evaluation Key pricing inputs^ (average over LOM) • A Definitive Feasibility Study (DFS) was Post tax (real) NPV10 US$131M US$80/t completed for Orokolo Bay in September Iron ore (62%Fe CFR) price 2020* (curren
Slide 17: Robust forecast cashflows
Robust forecast cashflows • Sales revenue based on revenues from multiple products (titano magnetite, zircon concentrate, DMS and construction sands) • Low capital intensity (~2-year payback on initial construction capex) • Staged ramp up profile and strong ongoing cash flows (US$284m in free cash f
Slide 18: Exposure to iron ore & pricing upside
Exposure to iron ore Orokolo Bay magnetite pricing based on a discount off the 62%Fe CFR iron ore index & pricing upside US$/t • Orokolo Bay magnetite price is based on the prevailing 62%Fe CFR iron ore index with discounting formula applied • Discounts are applied to account for iron content and qu
Slide 19: Low-cost Magnetite & benefit of large by-product credits
Iron ore producers Global Cost Curve (US$/t) Low-cost Magnetite & benefit of large by- product credits Orokolo Bay Magnetite Opex (before by- • Low costs driven by near surface mining product credits) • Short distance from pit to port supports US$35.38/t low-cost logistics • Magnetite Opex costs CFR
Slide 20: Orokolo Bay Timeline to production in 2023
Orokolo Bay Timeline to production in 2023 Enabling Works Commence main Construction commenced (HBS) construction works complete Q1 2022 Q2 2022 2022 2023 MRL shareholders Mining Operations First product approval commence shipment (EGM on 13 April 2022) Q4 2022 19 ORTUS RESOURCES Not for distributio
Slide 21: Growth Pipeline
Growth Pipeline A portfolio of Iron and Industrial sands projects from pre-production to exploration • Gulf Project Precinct includes 2 other projects near to Orokolo Bay (Gulf South and Malalaua) offering potential for future expansion together with delivery and operational synergies • Other projec
Slide 22: Ability to provide Net Zero Products
Ability to provide Access to Mayur’s large carbon credit inventory in PNG Net Zero Products • Ortus as a related entity to Mayur Renewables has the ability to gain exposure to the Heads Of Agreement^ and other Emissions from documents entered into between Mayur Orokolo Bay Carbon Credits from Mayur
Slide 23: ESG & Sustainable Development
Sustainable and responsible development is fundamental to our business including ESG & Sustainable conservation of the natural world around climate change and carbon emissions, and Development consideration of our impact on our stakeholders Ortus is implementing various ESG initiatives Environmental
Slide 24: Board & Management
Board & Management An experienced management team with an impressive track Charles Fear Paul Mulder Jason Zoller Hubert Namani CHAIRMAN MANAGING DIRECTOR DIRECTOR INDEPENDENT DIRECTOR record of initiating, developing and managing Charles co-founded Argonaut Limited Paul has 28 years of resources Jas
Slide 25: Investment Highlights - Recap
Investment Highlights - Recap 1 • Orokolo Bay is a fully-permitted, construction-ready project in PNG targeting production in H1 2023 Orokolo Bay is the • Expected to produce multiple products including magnetite iron ore, DMS, construction sands and zircon concentrate flagship project • Offtake dis
Slide 26: Additional Information
®) ADDITIONAL INFORMATION
Slide 27: MRL ASX Announcements – Further Information
MRL ASX Announcements For further information regarding Ortus Resources’ projects please refer to the announcements – Further Information available on the ASX website under the code MRL, including the following: 15 March 2022 Notice Of Shareholder Meeting - Proposed Spin out of Ortus Resources 12 Ja
Slide 28: Orokolo Bay – March 2022 DFS Update
Orokolo Bay – March An NPV sensitivity analysis is presented in the tornado chart below, showing that the project is most sensitive to Operating costs, Iron Ore Price and Construction Sand Price 2022 DFS Update The following other key assumptions were used in the updated financial evaluation and NPV
Slide 29: JORC Mineral Resource and Ore Reserves
JORC Mineral Resource DTR Fe Ti Zircon Fe Ti Zircon Category Mt DTR Mt % % % ppm Mt Mt t Orokolo Bay - Resources Measured 1.64 10.08 11.35 1.94 712 0.17 0.19 0.03 1,170 Western Area (Fe cut off) Indicated 70.1 6.82 9.13 1.17 508 4.78 6.40 0.82 35,587 and Reserves* 5.25% Inferred 137.8 5.43 8.19 1.02
Slide 30: Magnetite (iron ore sands) in Asia Pacific
Magnetite (iron ore sands) in Asia Pacific • Main producers in Asia Pacific are the Hebei Iron & Steel Taharoa & Waikato mines Nanjing Iron & Steel Chengde Iron & Steel • Taharoa exports to Japan and China Panzhihua Iron & Steel Kobe Iron & Steel Rizhao Steel JFE Steel • Titanomagnetite iron sand co
Slide 31: Battery, Titanium & Rare Earth Mineral Potential
Battery, Titanium & Rare Earth Mineral Potential Test works undertaken by METS for Orokolo Bay • Potential for vanadium, titanium and rare earth and Amazon Bay for vanadium and titanium minerals across the Ortus portfolio extraction and potential value uplift • Met test works conducted by METS for v
Slide 32: Battery, Titanium & Rare Earth Mineral Potential (cont.)
Battery, Titanium & Titanomagnetite Concentrate Metallurgical report Conclusion - Rare Earth Mineral Titanomagnetite Concentrate produced from bulk testing program in China “The two concentrates satisfy the quality requirements of the Element TFe TiO2 V2O5 SiO2 S Al2O3 CaO MgO ZrO2 P Cr2O3 Potential
Slide 33: Corporate Structure
Current Future Corporate Structure • Ortus Resources process already Ortus to issues ✓ shares to Mayur commenced to be spun out from Mayur Resources (ASX MRL) as a standalone iron COMPLETE - and industrial mineral sands business STEP 1 STEP 2 Strategic Investor Ortus acquires Mayur • Mayur Iron PNG
Slide 34: Mayur Management Fully Aligned
Mayur Management Current ASX: MRL Shareholding Fully Aligned structure • Mayur was incorporated in 2011 First round investors 21% • Funded by Management for 6 years pre-IPO Board & • Listed on the ASX in 2017 Management Institutional 45% 15% Retail 19% Shares on issue Options (unlisted) Market capit
Slide 35: Risks
Risks There are various risks associated with investing in the Company specifically and in the share market generally. Some of the key risks are summarized below, this is not exhaustive Risk Details Title Risk The Company’s mining and exploration activities are dependent on the maintenance (includin
Slide 36: Risks
Risks Risk Details Product Mix and Pricing Risk Future revenues from the Orokolo bay Industrial Sands project will be derived from the sales of several different mineral products including iron sands, construction sands and heavy mineral concentrate. Whilst some of these products have prices linked
Slide 37: Competent Person Statement
Competent Person Statement The information in this presentation that relates to exploration targets, exploration results, and estimates of mineral resources and ore reserves (as applicable) for the Orokolo Bay Project is based on, and fairly represents, information compiled, and conclusions derived
Slide 38: ey ORTUS
ey ORTUS AW RESOURCES
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