Black Rock Mining Limited · ASX:BKT
Black Rock Mining — Investor Presentation (May 2017)
20 slides from Black Rock Mining's investor presentation, May 3, 2017
Slide 1: Black Rock Mining Limited Corporate Presentation
For personal use only Black Rock Mining Limited (ASX: BKT) Corporate Presentation May 2017 Delivering a compelling low capex, high margin graphite mine
Slide 2: Important Information
Important Information For personal use only The release, publication or distribution of this presentation in certain jurisdictions may COMPETENT PERSONS be restricted by law and therefore persons in such jurisdictions into which this The information in this report that relates to Exploration Results
Slide 3: Table of Contents
Table of Contents For personal use only 1. Overview 2. Capital Structure 3. Mahenge Graphite Project 4. April 2017 Pre-Feasibility Study 5. Peer Comparison 6. Execution 7. Next Steps 8. Summary 3
Slide 4: Black Rock Mining Overview
1. Black Rock Mining Overview For personal use only • Multi generational Resource • The Mahenge Graphite Project has a JORC Compliant Mineral Resource Estimate of 203m tonnes at 7.8% Total Graphitic Carbon (“TGC”) for over 15m tonnes of contained graphite. • A JORC Compliant Reserve has been declare
Slide 5: Capital Structure
2. Capital Structure For personal use only Corporate Information Recent share price performance ASX Ticker BKT Share Price at 28 April 2017 $0.095 Shares on Issue 364.7m Options 47.2m Performance Rights 9.4m Fully Diluted Market Capitalisation $40.0m Cash on hand as at 31 March 2016 $4.0m Enterprise
Slide 6: Mahenge Graphite Project
3. Mahenge Graphite Project For personal use only High-grade resource capable of delivering a multi-generational mine with significant scale • Cascades and Ulanzi JORC Mineral Resource estimate of 164.6m tonnes at 8.2% TGC* • Large, high grade Tanzanian Project supported by close proximity to infras
Slide 7: Pre Feasibility Study
4. April 2017 Pre Feasibility Study For personal use only Industry leading pre production capex, margin, concentrate grade with a multi-generational mine life • Pre production capex of US$90.1m* Table showing the key parameters of the mine • Annual production from phase one of 83.3k tonnes of graphi
Slide 8: Pre Feasibility Study: upside with low price deck
4. April 2017 Pre Feasibility Study For personal use only Potential upside with relatively low price deck assumed in PFS business case Table showing the financial performance of the PFS mine under different sales prices • PFS price deck delivered NPV10 of US$624m. • Importantly concentrate grade is
Slide 9: Mine optimised for capex, opex, annual production
4. April 2017 Pre Feasibility Study For personal use only Mine optimised to deliver right sized capex, opex, annual production Graphs showing the results of over 100 scenario analysis used to determine optimum mine size and grade • Mine optimisation work focused Feed grade 8.9% graphite. on capex, o
Slide 10: Mining risk reduced with low strip ratios
4. April 2017 Pre-Feasibility Study For personal use only Mining risk significantly reduced with low strip ratios and most of resource being mined Graphs showing life of mine strip ratios • Project has relatively high-grade, large resource and very consistent mineralised horizon. • This delivers exc
Slide 11: Light touch mine with best practice mine design
4. April 2017 Pre Feasibility Study For personal use only Light touch mine with best practice mine design • Mine designed using environmental light touch philosophy. • Waste dumps integrated into landforms to act as tailings dam retention and co- dispose of wastes. • No villages proximal to project
Slide 12: Low capex is king
4. April 2017 Pre Feasibility Study For personal use only Low capex is king • Disciplined focus on realistic low pre production capex to ensure financing is achievable and ramp up profile properly matches likely increases in market demand • Meaningful scale supported by large multi-generational Reso
Slide 13: Peer Comparison: industry leading low capex
5. Peer Comparison For personal use only Industry leading low capex with scale comparing favourably to all developers Summary table of key metrics for East African graphite developers Battery Minerals Black Rock Kibaran Resources Magnis Resources Syrah Volt Resources Summary Project Montepuez Maheng
Slide 14: Peer Comparison: highest margin, low opex, high grade
5. Peer Comparison For personal use only Industry leading low capex with highest margin likely due to low opex and high concentrate grade Pre-production capex v steady state annual production Estimated cash costs to port and concentrate grade 98.5% 98.3% 96.3% 96% 95% 95% Battery Kibaran Magnis Blac
Slide 15: Industry leading battery test results and advancement
5. Peer Comparison For personal use only Industry leading battery test results and advancement Mahenge 100 cycle test results Mahenge graphite is returning excellent electrochemical attributes ✓ Near perfect reversible capacity, higher than natural and synthetic graphites on market ✓ Low BET surface
Slide 16: Execution: four streams of focus
6. Execution For personal use only Disciplined focus on four streams to ensure best result for stakeholders • Global search in train to find the right CEO with mining and public markets experience. CORPORATE AND • Head of Strategy recently appointed with significant global strategy and public market
Slide 17: Next Steps: PFS optimisation and third phase
7. Next Steps For personal use only PFS Optimisation to deliver third phase with capability quickly enhanced Proposed timeline to production • Build out team • Complete PFS optimisation study to deliver a third phase to raise overall production to 250k tonnes per annum • Progress potential partner d
Slide 18: Summary
8. Summary For personal use only • Multi generational Resource • The Mahenge Graphite Project has a JORC Compliant Mineral Resource Estimate of 203m tonnes at 7.8% Total Graphitic Carbon (“TGC”) for over 15m tonnes of contained graphite. • A JORC Compliant Reserve has been declared of 48.3m tonnes a
Slide 19: Appendix – Mahenge JORC Mineral Resource Estimate
Appendix – Mahenge JORC Mineral Resource Estimate For personal use only Prospect Category Tonnes TGC Contained TGC (Millions Resource Summary (Millions) (%) tonnes) Tonnes TGC Contained Ulanzi Measured 13.3 8.9 1.2 Category (Millions) (%) Graphite (mt) Indicated 48.0 8.2 3.9 Measured 21.2 8.6 1.8 In
Slide 20: For personal use only
For personal use only John de Vries Simon Hinsley Charlie Bendon Interim CEO Investor Relations Executive Director NWR Communications Tamesis Partners LLP (UK) +61 438 356 590 +61 401 809 653 + 44 7968 167 030 jdv@blackrockmining.com.au simon@nwrcommunications.com.au cbendon@tamesispartners.com