Akora Resources Ltd. · ASX:AKO
Akora Resources — Shareholder Meeting (May 2025)
22 slides from Akora Resources's shareholder meeting presentation, May 15, 2025
Slide 1: AGM Investor Presentation – Robust PFS
For personal use only AGM Investor Presentation – Robust PFS 15 May 2025 Paul Bibby Managing Director www.akoravy.com ASX:AKO
Slide 2: Disclaimers
Disclaimers The information in this Presentation is of a general nature and does not purport to be complete nor does it contain all the information which a Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially For per
Slide 3: AKORA Resources: high-grade iron ore projects in Madagascar
AKORA Resources is focused on the development of high-grade iron ore For personal use only projects in Madagascar. Flagship Project - Bekisopa, Start-Up Project – DSO Future – DRI Concentrate. Iron ore for tomorrow’s steel making. 3
Slide 4: Stage One Development
Stage One Development PFS confirms Bekisopa’s Stage One 2Mtpa high- For personal use only grade direct shipping iron ore operation has strong economics. PFS shows the capital investment delivering revenues of A$1.25 Billion and A$0.5 Billion cash flow (pre-tax)*. Bekisopa Direct Shipping Ore operati
Slide 5: PFS confirms DSO project has strong economics
PFS confirms DSO project has strong economics ^*. At a benchmark price of * Annual Production Initial Mine Life Revenue For personal use only US$100 / tonne 2Mt 6 years US$789M Average 61.6% Fe grade We believe that further Capital Cost NPV10 (pre-tax) IRR (pre-tax) drilling will confirm additional
Slide 6: Bekisopa's high-grade iron DSO is close to surface
Bekisopa’s high-grade iron DSO is close to surface. DSO Outcrop Trench 36: High-grade lump and fines iron ore For personal use only ~67% Fe* DSO weathered zone, 2.2m at ~66% Fe* Iron ore for tomorrow’s *AKO Prospectus, ASX Announcement 11/12/20 steel making. 6
Slide 7: Start-Up Capital cost of US$60.6M
Start-Up Capital cost PFS Capital costs (US$) of US$60.6M. Contingency 7.8M Government 3% Social Fund 1.85M EPCM 6.8M For personal use only Port 2.3M Roads 29.4M 29.4M • The capital cost breakdown developed by AKORA and WAI covers all activities from mining through to ship loading. • PFS Capital cos
Slide 8: Simple shallow open pit mining
Mining for the Bekisopa DSO will be simple shallow open pit excavation using For personal use only shovel and truck with no drill and blasting. • Mobile crushing and screening equipment to be used initially with magnetic separation after Year 3. • Contract truck haulers to deliver product to the exi
Slide 9: DSO lump and fines product
Over life of mine, the DSO operation delivers 40% Lump at 61.8% Fe and 60% Fines product at 61.4% Fe. For personal use only Geotechnical studies show that the DSO reserve will not require drill and blasting, just conventional truck and shovel mining then crushing and screening to produce Lump Lump F
Slide 10: C1 cash cost of US$42.3/t
C1 cash cost of PFS operating cash costs by operating centre, Life of Mine Average ($US/t). US$42.3/t is cost G&A 3.00 competitive compared to Port and Transhipping 8.60 potential peers. (contractor) For personal use only Haulage to port 24.00 (contractor) • The operating cost breakdown developed by
Slide 11: PFS Long-Term Benchmark Price – US$100/t
PFS Long-Term Benchmark Price – US$100/t For personal use only Potential Margin Iron ore for tomorrow’s steel making. 11
Slide 12: Start-up capital delivers strong ongoing cash flow
Start-up capital Pre-Tax cash flow (US$M) of US$60.6M delivers strong, ongoing cash For personal use only flow – US$310m. Capital Payback – 1.8 Years. Iron ore for tomorrow’s steel making. 12
Slide 13: PFS production with future expansion tonnes
PFS production tonnes with future expansion Annual Product Tonnes tonnes from presently Inferred tonnes that For personal use only have a high probability of conversion to Indicated Resource tonnes +1Mt Product delivers additional US$21M NPV. Iron ore for tomorrow’s steel making. 13
Slide 14: Haul road pathway to the Port of Toliara
The PFS has identified a suitable haul road pathway of new and existing roads from For personal use only Bekisopa to the Port of Toliara. • 25km of new roads from the mine site to the Zomandoa River crossing, followed by 80km of existing road to be upgraded to the township of Satrokala. • Then a fur
Slide 15: New bypass road from RN7 highway to Toliara Port
New bypass road from RN7 highway to be used to access Toliara Port. This public road, financed by the World Bank, has been under For personal use only construction over the last 12 months and is scheduled for completion mid-2026. The Malagasy Ministry of Public Works has launched a Notice of Express
Slide 16: Mobile conveyor loading transshipping barge at Toliara Port
At Toliara Port, a mobile conveyor will load a 10,000wmt transshipping barge. For personal use only • The barge will transport the product to the export vessel in deep waters outside the bay of Toliara and be unloaded by the ship’s gear. • As shipments reach 2Mtpa from Year 3, transshipping will uti
Slide 17: Madagascar can easily ship to Asian steelmakers
Madagascar can easily ship to Asian steelmakers as well as DRI pellet manufacturers around the world. For personal use only Iron ore for tomorrow’s steel making. 17
Slide 18: Pathway to Final Investment Decision in mid-2026
Pathway to Final Investment Decision in mid-2026 and first shipment in Q3 of 2027. For personal use only Next steps: • Permit renewals and transformation to Mining Licenses, Main Bekisopa tenement first to be renewed under the updated Mining Code. • Road approvals, land access and port agreements •
Slide 19: DSO sits above an expansive multi-decade inferred resource
Bekisopa’s DSO sits above an expansive multi- decade inferred resource*. For personal use only Iron ore for tomorrow’s *ASX Announcement 11/10/23 steel making. 19
Slide 20: Stage Two Development
Stage Two Development Future production anticipates a very low For personal use only impurity premium-priced +68% Fe concentrate for Direct Reduced Iron- Electric Arc Furnace (DRI- EAF) technology. DRI-EAF technology reduces carbon emissions significantly. Iron ore for tomorrow’s steel making. 20
Slide 21: AKORA's compelling investment case
AKORA’s compelling investment case For personal use only DSO Start-Up Low capex High margin, Strong cash flow. Premium Grade Low Impurity DRI Concentrate Long mine life for decarbonising the steel industry Iron ore for tomorrow’s *Scoping Study, ASX Announcement 14/11/23 steel making. 21
Slide 22: Contact us
Contact us Paul Bibby For personal use only Managing Director paul.bibby@akoravy.com AKORA Resources Ltd 12 Anderson Street West, ACN 139 847 555 Ballarat ASX: AKO Victoria 3350. Join the conversation Follow us Subscribe to our investor @AkoraResources https://www.linkedin.co relations platform m/co