Boab Metals Ltd · ASX:BML
Boab Metals — Diggers & Dealers Mining Forum 2021
35 slides from Boab Metals's conference presentation, Aug 2, 2021
Slide 1: Sorby Hills Lead-Silver Project Investor Presentation
For personal use only Sorby Hills Lead-Silver Project Delivering Metals for a Sustainable Future Investor Presentation - Diggers & Dealers Mining Forum - Booth 87 2 - 4 August 2021
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Compliance Statement For personal use only Certain statements in the presentation are or may be “forward-looking statements” and represent the The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Company’s int
Slide 3: Investment rationale
Investment rationale For personal use only The Proven The Most Conductive Pb Battery Metal The primary component of the 12V batteries Ag Metal on Earth Ideal metal for use in solar cells and the Lead found in traditional and electric vehicles Silver electronic components of electric vehicles. Austra
Slide 4: Board and management
Board and management For personal use only Experienced Board and Management with a proven track record in exploration and development. Gary Comb Simon Noon Richard Monti Andrew Parker Chairman Managing Director and CEO Non-Exec. Director Non-Exec. Director Engineer with over 30 years’ Experienced ex
Slide 5: Corporate summary
Corporate summary Share Price History For personal use only Capital structure (29 July 2021) Share Price A$0.40 / share 10.0 1.0 Share Consolidation Shares on Issue 152 million shares Trading Volume (million shares) 8.0 0.8 Market Cap A$61 million Share Price (A$/share) Debt Nil 6.0 0.6 Cash A$12.95
Slide 6: PFS highlights
PFS highlights For personal use only The Sorby Hills PFS released in August 2020 highlights a technically robust project with impressive economics The PFS highlights the low-risk nature of the Sorby Hills Project with a well-defined large-scale Mineral Resource, conventional crush-mill-float process
Slide 7: Sorby Hills Project highlights
Sorby Hills Project highlights For personal use only Australia’s largest undeveloped, near-surface Lead-Silver-Zinc deposit. ✓ 75%/25% Joint Venture Partnership with China’s largest Lead smelter and Silver producer. ✓ Granted pre-native title mining tenements. ✓ EPA Approved for Open Pit Mine and In
Slide 8: High quality Mineral Resource estimate
High quality Mineral Resource estimate For personal use only Large shallow gently dipping Resource with well defined geology Excluded from PFS Mine Plan Image: Long section looking west through the Sorby Hills Resource Grade Contained Metal Deposit Mt Pb Ag Pb Eq. Zn Pb Ag Pb Eq. Zn % g/t % % kt koz
Slide 9: Low-risk Project with significant scope for growth
Low-risk Project with significant scope for growth For personal use only A low-risk Mine Plan underpinned by Conventional processing route producing a 92% Ore Reserves high-quality concentrate • Single stage crush and semi-autogenous grinding (SAG) followed by Sulphide and Ore Pb (%) Pb (kt) Ag (g/t
Slide 10: Effective and efficient Resource definition
Effective and efficient Resource definition For personal use only High impact drilling to maximise the value extracted from the Sorby Hills deposit • The Sorby Hills Mineral Resource is a function Growth and classification of Contained metal within the Sorby Hills Mineral Resource of Boab’s demonstr
Slide 11: Exceptional Drilling Results
Exceptional Drilling Results For personal use only Significant Drilling Results to date Previous exploration drilling at Sorby Hill has delivered exceptional results. ASX release 14 February 2019 ASX release 14 August 2019 ASX release 30 January 2020 10.0m at 6.6%Pb, 53g/t Ag 14.0m at 13.0% Pb and 8
Slide 12: Opportunity to increase Sorby Hills mining inventory
Opportunity to increase Sorby Hills mining inventory For personal use only Images: Selected Cross-Section through the Omega Deposit showing extensions to the Sorby Hill Mineral Resource identified Diamond drill-rig on site undertaking the Phase V drilling program during the Phase IV drilling program
Slide 13: Potential increase in mine size
Potential increase in mine size For personal use only Results of the Phase V drill program together with the ongoing DFS Metallurgical program will act as inputs to an investigation into the potential increase mine life and expand the proposed processing capacity at Sorby Hills The Sorby Hills PFS M
Slide 14: Preliminary Phase V drilling results
Preliminary Phase V drilling results For personal use only Boab’s Phase V drilling program was designed to investigate high impact opportunities to increase mine life and proposed production capacity at Sorby Hills as part of the ongoing DFS Encouraging preliminary results to date include: • extensi
Slide 15: Regional exploration potential
Regional exploration potential For personal use only Eight Mile Creek - Exploration Licence E80/5317 Exploration Tenements 100% owned by Boab Metals covering 217 km2 of relatively underexplored tenure immediately south of Sorby Hills. • 30 km of along-strike geology highly prospective for deposits s
Slide 16: Strategic Acquisition of Manbarrum Zinc-Lead-Silver Project
Strategic Acquisition of Manbarrum Zinc-Lead-Silver Project For personal use only Boab has entered a binding agreement to acquire 100% of the Manbarrum Zinc-Lead-Silver Project Key highlights include: • Manbarrum is strategically located 25km east of the Sorby Hills Lead-Silver Zinc Project. • Miner
Slide 17: Sorby Hills JV partnership
Sorby Hills JV partnership For personal use only Boab (75% interest) Henan Yuguang Gold and Lead Co., Ltd (25% contributing interest) • Very positive meetings have been held with Joint Venture partner Henan Yuguang Gold and Lead Co., Ltd (“Yuguang”), the largest Lead smelting company and Silver prod
Slide 18: Project financing
Project financing For personal use only Boab is well progressed on preparing the Sorby Hills Project for project financing • Boab has engaged BurnVoir Corporate Finance to advise on, analyse and arrange a project finance solution for the Sorby Hills Project. • The Company has engaged with Australia
Slide 19: Sorby Hills concentrate offtake
Sorby Hills concentrate offtake For personal use only Preliminary Soundings with Tier-1 offtakers have confirmed a strong appetite for the Sorby Hills concentrate • Boab has held preliminary soundings with a select group of potential local and offshore customers for the Sorby Hills Lead-Silver Conce
Slide 20: Establishing deep roots within the local community
Establishing deep roots within the local community For personal use only Boab is extremely proud to be the Naming Rights Sponsor the Ord Valley Muster for 2022 and beyond. ▪ Sense of community plays a key role in economic and social well-being of stakeholders across the east Kimberley Region. ▪ The
Slide 21: The Silver & Lead Markets
For personal use only The Silver & Lead Markets Boab Metals Limited ASX:BML 21
Slide 22: Lead: An underrated battery metal
Lead: An underrated battery metal For personal use only In 2019, 86% of refined Lead production was used in the production of Lead Acid batteries1 Sorby Hills PFS Revenue Split Growth in Lead-Acid Battery Market2 475,223 t 500 50 Payable Lead 400 40 Lead A$1.4 Billion Revenue US$ billion US$32Bn 300
Slide 23: Silver: A precious metal with strong green credentials
Silver: A precious metal with strong green credentials For personal use only Silver‘s traditional role as a storer of wealth is complemented by increasing industrial demand Sorby Hills PFS Revenue Split BML Share Price vs A$ Silver Price 475,223 t 10.0 1.00 BML Trading Volume (Millions) BML Share Pr
Slide 24: Next Steps
For personal use only Next Steps Boab Metals Limited ASX:BML 24
Slide 25: Development timeline providing significant newsflow
Development timeline providing significant newsflow For personal use only On track to become a significant West Australian Lead-Silver producer in 2023 Recent News ✓ Preliminary Offtake Soundings demonstrate strong demand for Sorby Hills Concentrate ✓ Completion of Phase IV drilling reveals signific
Slide 26: Thank you
For personal use only Thank you Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals
Slide 27: Appendix
For personal use only Appendix 27
Slide 28: PFS capital and operating costs
PFS capital and operating costs For personal use only Capital Cost Estimate Operating Cost Estimate1 Capital Item A$M Cost Centre A$M A$/t ore A$/lb2 US$/lb2 Pre Production Mining 24.3 Mining 347 23.48 0.33 0.23 Process Plant incl. EPC fee 105.4 Processing 292 19.80 0.28 0.20 Infrastructure 20.5 G&A
Slide 29: PFS life of mine metrics
PFS life of mine metrics For personal use only Item Unit Base Case Item Unit Base Case Economic Assumptions Cash Flow Lead Price US$/t 2,095 Lead Revenue A$M 1,422.3 Silver Price US$/oz 21.10 Silver Revenue A$M 431.1 Exchange Rate A$:US$ 0.70 Gross Revenue A$M 1,853.3 Physicals Royalties A$M (69.5)
Slide 30: Mineral Resource Estimate - April 2021
Mineral Resource Estimate - 6 April 2021 For personal use only Grade Contained Metal Deposit Mt Pb Ag Pb Eq. Zn Pb Ag Pb Eq. Zn % g/t % % kt koz kt kt A 0.6 5.1 22 5.7 0.9 30 411 34 5 B 2.3 3.9 22 4.5 0.3 91 1,608 105 7 Omega 16.6 3.4 34 4.3 0.4 560 18,233 718 69 Norton 20.0 2.7 36 3.7 0.4 545 23,06
Slide 31: Current ore Reserve and PFS mine plan
Current ore Reserve and PFS mine plan For personal use only A low-risk Mine Plan underpinned by 92% Ore Reserves PFS Mining Schedule Ore Pb (%) Pb (kt) Ag (g/t) Ag (Moz) 1,200 6.0% 120 Classification Mt % kt g/t Moz 1,000 5.0% 100 Proved 6.8 4.1 275 53.0 11.5 800 4.0% Silver Grade (g/t) 80 Probable
Slide 32: Metallurgy and processing
Metallurgy and processing For personal use only Production Summary PFS Processing Schedule 500 10.0% 100 Plant Process Crush, Grind and Float 400 8.0% 80 Plant Throughput 1.5Mt p.a. '000 tonnes Silver Grade (g/t) 300 6.0% 60 Lead Grade (%) Average Feed Grade 3.6% Lead, 39.5 g/t Silver 200 4.0% 40 Av
Slide 33: Undeveloped ASX Listed Silver Resources located in Australia
Undeveloped ASX Listed Silver Resources located in Australia For personal use only Sorby Hills is among the largest undeveloped Silver Resources located in Australia 200 Contained Silver Ounces (Millions) 150 100 Sorby Hills 50 - SVL-ASX MCT-ASX RDM-ASX BML-ASX TGN-ASX IVR-ASX AML-ASX ARD-ASX WRM-AS
Slide 34: Peer Comparison Supporting Information
Peer Comparison Supporting Information For personal use only Measured Indicated Inferred Total Primary Ticker Project Stage Source Metal Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz SVL-ASX Bowdens Feasibility Complete Silver 76.0 45 111 29.0 31 29 23.0 31 23 128.0 40 163 2020 AGM Presentation 27 Nov
Slide 35: Equivalent calculation
Equivalent calculation For personal use only The contained metal equivalence It is Boab’s opinion that all elements Metal equivalents are highly dependent on the included in the metal equivalent calculation metal prices used to derive the formula. Boab formula is based on the Sorby Hills notes that