Metals X Limited · ASX:MLX
Metals X — Investor Presentation (July 2017)
29 slides from Metals X's investor presentation, Jul 19, 2017
Slide 1: Corporate Presentation July 2017
PROUDLY POSITIONED AS AN AUSTRALIAN MINER ASX:MLX CORPORATE PRESENTATION JULY 2017
Slide 2: Disclaimer
DISCLAIMER General Disclaimer This presentation has been prepared by Metals X Limited (“Metals X” or the “Company”) and was published on ASX on 19 July 2017. The presentation is based upon information available to the Company at the date of this presentation. The Company makes no representation and
Slide 3: Profile
PROFILE An ASX 300 listed Australian diversified base metals company ► Market capitalisation of ~ $465 million ► Global top 10 primary tin producer (AISC margins of > $9,000/t) Renison Tin Operations in Tasmania (MLX 50% owner) Expansion (ore sorting) commenced, increasing production 15 – 20%
Slide 4: Corporate Overview
CORPORATE OVERVIEW Capital Structure (ASX: MLX) Board & Management Shares on issue 606M Non-Executive Chairman Peter Newton Share price $0.77 Managing Director Warren Hallam Market capitalisation $465M Executive Director Steve Robinson Major indices MSCI Small cap, ASX 300 Non-Exec Director Simon He
Slide 5: Nifty Copper Operations
NIFTY COPPER OPERATIONS A well established copper producer with outstanding near-mine and regional upside 5
Slide 6: Nifty Overview
NIFTY OVERVIEW Significant copper producer (~ 25,000tpa Cu growing to 40,000tpa Cu) ► Acquired September quarter 2016 by off-market takeover ► Established infrastructure - 2.5Mtpa concentrator, large underground mine, +3.5Mt underground conveyor and crusher, camp, sealed airstrip, buildings ► Nifty
Slide 7: Nifty Resource and Reserve Estimates
NIFTY RESOURCE AND RESERVE ESTIMATES Nifty Sulphide Mineral Resource Estimate Tonnes (Mt) Grade( %) Copper (Kt) Measured 20.30 1.81 367 Indicated 15.35 1.37 210 Inferred 11.55 1.18 136 TOTAL 47.20 1.51 713 Nifty Ore Reserve Estimate Tonnes (Mt) Grade (%) Copper (Kt) Proved 4.04 1.72 70 Probable 5.71
Slide 8: Expanding the Nifty Underground Mine
EXPANDING THE NIFTY UNDERGROUND MINE Recent drilling by Metals X has confirmed mineralisation extensions 250m to the west, 200m to the east and down plunge Drill hole Location 23L Refer to ASX Announcement of 11 July 2017 8
Slide 9: Nifty Western Extensions
NIFTY WESTERN EXTENSIONS Mineralisation to the west has been defined across mining Levels 12 to 18 (~ 140 vertical metres) Refer to ASX Announcement of 11 July 2017 9
Slide 10: Nifty East and Down-Plunge
NIFTY EAST AND DOWN-PLUNGE Mineralisation extended 200m east and down plunge and step-out drilling is underway 700m down-plunge to test further extensions Refer to ASX Announcement of 11 July 2017 10
Slide 11: Nifty East Limb Extension (Upper Levels)
NIFTY EAST LIMB EXTENSION (UPPER LEVELS) Infill drilling has already outlined 0.6Mt @ 1.83% Cu over top 2 levels only - drilling program targeting mineralisation on lower levels starts August 2017 Ore block currently being mined Refer to ASX Announcement of 11 July 2017 ► Immediate potential for sig
Slide 12: Regional Exploration
REGIONAL EXPLORATION Large land holding with excellent exploration potential ► 3,220 km2 with defined copper, cobalt, lead/zinc targets & exploration upside ► Significant previous exploration – minimal spend past 20 years ► Metals X regional exploration program 3D IP interpretation for Nifty and M
Slide 13: Finch Prospect
FINCH PROSPECT Defined “Nifty-lookalike” target ► Located approximately 20km SE of Nifty ► Situated on what is interpreted as the continuation of the syncline hosting Nifty ► Drilling commenced June 2017 ► Prior shallow drilling identified anomalous copper blanket analogous to the supergene minerali
Slide 14: Maroochydore Prospect
MAROOCHYDORE PROSPECT Substantial Mineral Resource containing 486,000t copper and 19,000t cobalt ► Located 85km SE of Nifty ► Magnetics, 3D IP and Gravity surveys completed, VTEM survey underway ► Large oxide resource already defined (0.5Mt Copper) with significant cobalt (19Kt Co) ► Sulphide resour
Slide 15: Renison Tin Operations
RENISON TIN OPERATIONS Australia’s only tin producer and one of only a few listed tin producers in the world Rentails Project (planned) Proposed Infrastructure Renison Mine & Infrastructure Renison Mine Infrastructure 15
Slide 16: Renison Tin Mine (MLX 50%)
RENISON TIN MINE (MLX 50%) Long life mine expanding from 7,000tpa to 8 – 8,500tpa tin in concentrate ► Ore Reserve: 5.7Mt at 1.28% Sn (73,000t) ~ 8 years ► Mineral Resource: 11.5Mt at 1.44% Sn (165,000t) ~ 16 years ► Production: 7,000tpa Sn in con at AISC of $18,500/t Sn Expanding with ore sorting
Slide 17: Renison Expansion with Ore Sorting
RENISON EXPANSION WITH ORE SORTING New crushing and ore sorting facility currently being constructed to increase tin production by 15 – 20% ► Earthworks & construction underway Estimated completion April 2018 ► Underground ore production to increase to approximately 920,000tpa Plant to be mainta
Slide 18: Renison Tailings Retreatment Project (Rentails)
RENISON TAILINGS RETREATMENT PROJECT (“RENTAILS”) Feasibility returns robust economics - financing discussions underway 21.6 Mt at 0.45%Sn 0.23%Cu ► Expansion of Renison by re-processing and recovery of tin and copper from historical tailings Ore Reserve: 21.6Mt at 0.45% Sn (100,000t Sn) ~ 11 Year
Slide 19: Wingellina Nickel-Cobalt Project
WINGELLINA NICKEL-COBALT PROJECT Globally significant nickel-cobalt project in the Central Musgrave Region of WA 19
Slide 20: Wingellina Current Status
WINGELLINA CURRENT STATUS Discussions continuing on financing and development ► Ore Reserve of 168Mt at 0.93% nickel and 0.07% cobalt ► Mineral Resource containing 1.9Mt copper and 154Kt cobalt ► Feasibility study (±25%) completed in 2008 40 year mine life at production rate of 40,000tpa Ni and 3,
Slide 21: Significant Cobalt Zones to be In-fill Drilled
SIGNIFICANT COBALT ZONES TO BE IN-FILL DRILLED Evaluation of high grade cobalt domains at Wingellina is ongoing ► High grade cobalt domains within 100m the current nickel resource include: 29.7Mt at 0.14% Co for 41,600t Co (0.1% Co Cut-off) WPRC 0009 30m at 0.31%Co + 1.49% Ni 85.9Mt at 0.11% Co
Slide 22: Synopsis
SYNOPSIS Metals X is a profitable mid-tier base metals producer with ongoing expansion projects and a significant pipeline of additional growth opportunities ► Three world class ore bodies – Nifty (Cu), Renison (Sn) and Wingellina (Ni, Co) ► Brownfields expansion underway in copper and tin Nifty t
Slide 23: Appendix - Mineral Resources - Nifty
APPENDIX - MINERAL RESOURCES - NIFTY Nifty Copper Operations - Nifty Sulphide, Nifty Oxide, Nifty Heap Leach Mineral Resource Statement at 31 March 2017 1 2 Grade Copper Deposit Mineral Resource Category Mt 2 % Cu tonnes Measured 20.30 1.81% 367,000 3 Indicated 15.35 1.37% 210,000 Nifty Sulphide Inf
Slide 24: Appendix - Mineral Resources - Maroochydore
APPENDIX - MINERAL RESOURCES - MAROOCHYDORE Nifty Copper Operations - Maroochydore Copper Prospect Mineral Resource Statement at 31 March 2016 Copper Cobalt Mineral Resource 1 Grade Copper Grade Cobalt Deposit Mt 2 2 Category % Cu tonnes ppm Co tonnes Measured - - - - - 3 Indicated 40.80 0.92% 375,0
Slide 25: Appendix - Mineral Resources - Renison
APPENDIX - MINERAL RESOURCES - RENISON Renison Tin Operations Mineral Resource Statement at 30 June 2016 MLX equity share is 50% of the Mineral Resource estimate shown below Tin Copper Mineral ‘000 Grade Tin ‘000 Grade Copper Deposit Resource 2 2 2 1 tonnes % Sn tonnes tonnes % Cu tonnes Category Me
Slide 26: Appendix - Mineral Resources - Wingellina
APPENDIX - MINERAL RESOURCES - WINGELLINA Wingellina Nickel-Cobalt Project Mineral Resource Statement at 30 June 2016 Nickel Cobalt Fe2O3 Mineral ‘000 Grade Nickel Grade Cobalt Fe2O3 Fe2O3 Project Resource tonnes % Ni ‘000 t % Co ‘000 t % ‘000 t Category Measured 37,567 0.98% 368 0.07% 28.0 45.94% 1
Slide 27: Appendix – Ore Reserves – Nifty & Wingellina
APPENDIX – ORE RESERVES – NIFTY & WINGELLINA Nifty Copper Operations Ore Reserve Statement at 31 March 2017 Ore Reserve Ore Grade Copper Deposit 2 2 Category Mt % Cu tonnes Proved 4.04 1.72% 69,500 1 Nifty Sulphide Probable 5.71 1.47% 84,000 Total 9.75 1.58% 153,500 1. The Ore Reserve is based on th
Slide 28: Appendix – Ore Reserves – Renison
APPENDIX – ORE RESERVES – RENISON Renison Tin Operations Ore Reserve Statement at 30 June 2016 MLX equity share is 50% of the Ore Reserve estimate shown below Tin Copper Ore Ore Ore Grade Tin Grade Copper Project Reserve ‘000 2 ‘000 2 1 % Sn tonnes % Cu tonnes Category tonnes tonnes Proved 1,105 1.2
Slide 29: Appendix – Competent Persons Statements
APPENDIX – COMPETENT PERSONS STATEMENTS Competent Person Statement – Nifty Sulphide Mineral Resource The information in this announcement that relates to Mineral Resources for the Nifty Sulphide Mineral Resource has been extracted from Metals X’s announcement released on 31 May 2017 and is available