First Tin Plc · LSE:1SN
First Tin — Investor Presentation (March 2023)
17 slides from First Tin's investor presentation, Mar 10, 2023
Slide 1: High Margin, Advanced Tin Projects in Australia and Germany
HIGH MARGIN, ADVANCED TIN PROJECTS IN AUSTRALIA AND GERMANY Investor Presentation Q1 2023
Slide 2: Disclaimer
Disclaimer This document (“Presentation”) has been prepared by First Tin Limited, a private limited company incorporated and registered in England and Wales Australian Disclosure under company number 07931518 (to be re-registered as a public limited company) (“Company”) in connection with a presenta
Slide 3: Investment case
Investment case COMPELLING VALUATION VERSUS GLOBAL TIN PEERS • 100% ownership of two low capex tin development projects in low-risk jurisdictions FIRST TIN OFFERS • Quick and de-risked path to production due to established reserves and simple mineralogy • Definitive Feasibility Studies on both asset
Slide 4: Financial Overview
Financial Overview A robust cash position of £13.8 million as at 31 December 2022 2022 2021 £ £ Non-current assets • Comprehensive loss for the period of £3.1m (2021: Intangible assets 27,367,552 3,380,913 £1.2m) Investments - 1,543,670 Property, plant and equipment 1,589,748 28,851 28,957,300 4,953
Slide 5: Highly experienced board
Highly experienced board MANAGEMENT & BOARD OWN >10% OF FIRST TIN ALIGNMENT WITH SHAREHOLDERS Thomas Buenger Charles Cannon-Brookes Catherine Apthorpe Seamus Cornelius Ingo Hofmaier Nicholas Mather Chief Executive Officer Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Execu
Slide 6: Why tin? Why now?
Why tin? Why now? LONG-TERM TIN DEFICIT EXPECTED FROM 2024 EV boom continues* Strong solar growth to continue* Global EV sales, ‘000 Refined tin consumption, ‘000 tonnes 2020 2021 2022 China Other EU US • Tin is a critical metal, vital in any plan to decarbonise and 1000 30 electrify the world 800 2
Slide 7: Tin Bull Markets
Tin Bull Markets DOMINIC FRISBY’S ANALYSIS OF TIN BULL MARKETS Tin is in the middle of an extraordinary bull market. Tin bull markets typically see 800-900% appreciation trough- peak, implying a $112,000/Tonne target VS. a cycle low of $14,000 in 2020. Currently tin is around $23,000/Tonne represent
Slide 8: Global tin supply
Global tin supply A LIMITED NUMBER OF SUBSTANTIAL, ECONOMIC TIN DEPOSITIS IN TIER ONE JURISDICTIONS Together, First Tin’s assets represent the 5th largest undeveloped tin reserves globally, outside Russia, Kazakhstan and the Democratic Republic of Congo. Source: International Tin Association FIRST T
Slide 9: Taronga – Australia
Taronga – Australia FIFTH LARGEST UNDEVELOPED TIN RESERVE GLOBALLY JORC resource estimate 2021 TARONGA IS A LOW RISK ASSET IN A LOW RISK JURISDICTION Assay Contained Metal Category Mt (% Sn) (Tonnes) Indicated 26.9 0.17 45,200 Freehold Land Ownership Low Risk Inferred 9.4 0.13 12,000 Total 36.3 0.16
Slide 10: Taronga – Australia
Taronga – Australia TARONGA IS LOCATED IN A RENEWABLE ENERGY ZONE Taronga work programme for 2023 Wind & Solar resource availability • Resource update mid 2023 • The project sits in the New England renewable energy zone • Complete EIS and DFS by end 2023 (REZ, one of NSW’s priority REZs) • Regional
Slide 11: Tellerhäuser - Germany
Tellerhäuser - Germany SIGNIFICANT LEVERAGE TO HIGHER TIN PRICES High grade, underground development, 50-year mining license SN price Pre-tax NPV8 IRR Capex (US$/t) (US$m) (%) (US$m) $20,000 82 26 49 $25,000 173 43 49 $30,000 264 58 49 $40,000 445 87 49 Pre-Tax NpV8 from 2021 Optimised Scoping Study
Slide 12: Tellerhäuser & Gottesberg
Tellerhäuser & Gottesberg PART OF A TIN DISTRICT IN SAXONY, GERMANY Recent Drilling Tellerhäuser Deeps 5.9m @ 0.40% Sn (incl. 1.4m @ 1.26% Sn) 0.65m @ 0.34% Sn and 1.5m @ 0.75% Sn (incl. 0.6m @ 1.43% Sn) 4.7m @ 0.44% Sn (incl. 1.0m @ 2.02% Sn) 3.85m @ 0.63% Sn (incl. 1.35m @ 1.49% Sn) Gottesberg 73.
Slide 13: Sustainable supply
Sustainable supply ASSURED PROVENANCE, TRACEABLE, ESG-COMPLIANT SUPPLY OF CRITICAL RAW MATERIAL OUR VALUES OUR VISION OUR PRIORITIES INTEGRITY A conflict-free source of tin through sustainable, • SAFETY - a core value; we aim for a fatality, • Do what is right injury and illness free workplace. prof
Slide 14: Corporate overview
Corporate overview Significant shareholders over 5% Market LSE and FSX Number of Total share Stakeholders Shares % Ticker 1SN Clara Resources Australia Ltd 60,000,000 22.6% Shares in Issue 266m Baker Steel Resources Trust Limited 37,128,014 13.98% Market Cap £27.19m Listing Date 8 April 2022 Directo
Slide 15: Peer comparison
Peer comparison ENTERPRISE VALUE PER TONNE OF CONTAINED TIN RESOURCE $3 000 $2 500 Graph shows that First Tin is $2 000 ~ $100/Tonne of contained tin vs two $1 500 UK peers Andrada and Cornish Metals at ~ $800/Tonne $1 000 $ 500 $- Alphamin Metals X Cornish Metals Andrada Mining First Tin Stellar Re
Slide 16: Investment case
Investment case COMPELLING VALUATION VERSUS GLOBAL TIN PEERS • 100% ownership of two low capex tin development projects in low-risk jurisdictions FIRST TIN OFFERS • Quick and de-risked path to production due to established reserves and simple mineralogy • Definitive Feasibility Studies on both proje
Slide 17: Contact
CONTACT THOMAS BÜNGER Chief Executive Officer thomas.buenger@firsttin.com +49 172 35 15 256