Slide 1: Pathway to Profitability and Growth
For personal use only Explore | Define | Mine Pathway to Profitability and Growth August 2021
Slide 2: Forward Looking Statement and Competent Person's Statement
For personal use only FORWARD LOOKING STATEMENT COMPETENT PERSON’S STATEMENT Statements and material contained in this Presentation, particularly those regarding possible or Any information in this report to that relates to the “Metro Mining – Bauxite Hills” Reserves is based on assumed future perfo
Slide 3: Recent Initiatives Transform Company's Future
Recent Initiatives Transform Company’s Future For personal use only 2021 and 2022 de-risked with multiple pathways to Stage 2 Expansion established Main Features Key Implications ✓ Raised A$ 16.9 M through capital raise (minimum ▪ 3.3 to 3.5 Mt sales for 2021, 4 Mt target for 2022 was A$ 10 M) inclu
Slide 4: Evolution of Strategy and Market Positioning
Evolution of Strategy and Market Positioning For personal use only Metro moving rapidly to de-risk cost structure and provide options to Stage 2 Expansion Metro Establishment Strategy Strategic Evolution ✓ Rapid low capex establishment ▪ Low capex approached retained ✓ 3 to 4 Mt/a initial scale ▪ Ph
Slide 5: 2021 Implementation sequence
2021 Implementation sequence Cost reductions and floating crane allow intensified marketing approach For personal use only 5 | ASX : MMI | August 2021 I
Slide 6: New Floating Crane Barge Procured
New Floating Crane Barge Procured A rapidly executed transformational improvement to Metro’s delivered cost base For personal use only ✓ Floating Crane was studied as part of Stage 2 Expansion BFS in 2019 ✓ Recently constructed and commissioned Damen (NL) design barge with Liebherr 35t Crane ✓ Will
Slide 7: Cost reduction underway
Cost reduction underway Immediate focus and good traction on cost saving initiatives at site and corporate For personal use only ✓ 2021 sales and production run rate 3.3 to 3.5 MWMT/a ✓ Established a cash cost “war room” to originate, assign, risk assess and implement ideas rapidly ✓ Mine cost and p
Slide 8: Current Market Expansion Phase Favors Metro
Current Market Expansion Phase Favors Metro Increasing demand from high temperature refineries switching away from domestic bauxite For personal use only ✓ From 2015 to 2019- increasing China domestic bauxite prices, decreasing quality, higher caustic prices, increased availability of imported bauxi
Slide 9: Metro Contestable Market to Grow by 100%
Metro Contestable Market to Grow by 100% Probable >30 Mt/a increase in High Temp segment in China For personal use only ✓ By 2031 CM Group forecast 30 Mt/a increase in Chinese bauxite market but 80 Mt/a increase in imports as inland refineries switch from domestic bauxite ✓ Metro estimate current hi
Slide 10: Metro technical trial support to refineries
Metro technical trial support to 3 refineries ✓ Optimizing alumina refining is a highly technical chemical engineering process and Metro has strengthened its marketing & For personal use only technical expertise ✓ Each refinery has different equipment, reagent costs and operating conditions and a di
Slide 11: Low cost de-risked pathway to stage 2
Low cost de-risked pathway to stage 2 For personal use only The Floating Crane delivers transformational step change in Metro’s economics at the 4 Mt/a scale in Q4 2021 & 2022 FY 2020 FY 2021 (F) FY 2022 (F) FY 2023 (F) 52 1 1 52 Revenue ( A UD / wm t ) 50 4 Indicative 5 Stage 2 Expansion 4 2 Royalt
Slide 12: Floating Crane Pivot Provides Options
Floating Crane Pivot Provides Options For personal use only Options remain open to achieve Stage 2 Expansion 3 to 4 Mt/a scale 6+ Mt/a scale 2023 2 x Floating Crane Capesize Vessel (180 kt) Capex ~A$ 20 M Current Q4 2021 Self Loading geared 1 x Floating Crane Ultraclass Vessel (60 kt) Capesize Vesse
Slide 13: Lowest global delivered cash cost positioning
Lowest global delivered cash cost positioning Metro will enter Q1 with Floating Crane and Target No 1 position with Stage 2 For personal use only China Seaborne Bauxite Supply Cash Cost Curve 2023 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile 100 90 80 Cash Cost CIF China, US$/dmt 70 60 50 40
Slide 14: Appendix: More detail on floating crane barge
For personal use only Appendix: More detail on floating crane barge 14 | ASX : MMI | August 2021 I
Slide 15: Floating Crane Mobilisation and Commissioning
Floating Crane Mobilisation and Commissioning For personal use only ✓ Currently undergoing handover drydocking and equipment commissioning in Shanghai under Damen management ✓ Will complete final inspection and class certification ✓ Establishment items such as bauxite specific grab, sewerage system,
Slide 16: Floating Cranes: common, low risk technology
Floating Cranes: common, low risk technology For personal use only ✓ ~270 Mt/a is transhipped globally ✓ Indonesian coal accounts for two thirds of the volume ✓ Significant bauxite volumes transhipped in Guinea ✓ For example: “Sister ship” Princesse Abby- comparable size and identical crane (CBG350)
Slide 17: Damen Transhipment Crane Barge 6324
For personal use only Damen Transhipment Crane Barge 6324 Actuals 2020 Forecast 17 | ASX : MMI | August 2021 I Source: Damen
Slide 18: Designed to rapidly load large vessels up to Capesize
Designed to rapidly load large vessels up to Capesize (180 kt) Most Chinese ports are Capesize capable- as used to taking iron ore and coal For personal use only 18 | ASX : MMI | August 2021 I
Slide 19: For Further Information Contact
For personal use only Explore | Define | Mine For Further Information Contact: Simon Wensley CEO & MD | Mitchell Petrie CoSec Ph: +61 (0) 7 3009 8000 | Lvl 2, 247 Adelaide St, Brisbane Postal Address: GPO Box 10955, Brisbane Q 4000