Metals X Limited · ASX:MLX

Metals X — Shareholder Meeting (November 2013)

32 slides from Metals X's shareholder meeting presentation, Nov 15, 2013

  1. Slide 1: A Diversified Miner

    ASX :MLX OTCQX :MTXXY For personal use only A DIVERSIFIED MINER TIN DIVISION GOLD DIVISION NICKEL DIVISION “World Class - Renison” HGO &SKO – 7.2Moz “World Class – Wingellina” Operating CMGP – 5 Moz Development Ready Strong cash flow Rover 1 – 1.2 Moz 40 yr + Project Other Tin Projects 150,000ozpa+ p

  2. Slide 2: Project Locations

    TIN NICKEL GOLD PROJECT LOCATIONS For personal use only Metals X is an Australian focused diversified miner. MLX 50% 2

  3. Slide 3: Capital Structure

    TIN NICKEL GOLD CAPITAL STRUCTURE For personal use only Major Shareholders Market ASX APAC Resources 24.1% Share Code MLX Jinchuan Group 10.7% Share Price $0.15 Board & Management 8.5% Shares on Issue 1,652M Blackrock Investments 4.4% Market Capitalisation $250M 76% Net Cash (and WC) $50M Top 50 Sha

  4. Slide 4: Tin Division

    TIN DIVISION AUSTRALIA’S ONLY SIGNIFICANT TIN PRODUCER For personal use only 4

  5. Slide 5: Australia's Tin Resources

    TIN AUSTRALIA’S TIN RESOURCES For personal use only Metals X dominates Australia’s known tin resources. 2.5( represents total resource size 2( Renison) 1.5( Grade)(%)Sn)) Outback( Collingwood) Stellar( 1( Rentails) 0.5( Bischoff( Torian( YTC( Cons.(Tin( Monto( Paradigm( Venture( Toronga( 0( 0( 10( 20

  6. Slide 6: Renison – one of the largest tin mines ever mined

    TIN RENISON – one of the largest tin mines ever mined in the world; and For personal use only still going after 45 years. Proposed Proposed Renison Infrastructure Expansion Project Renison Mine Renison Mine Infrastructure Infrastructure 6

  7. Slide 7: Tasmanian Tin Operations (50%)

    TIN TASMANIAN TIN OPERATIONS (50%) MLX For personal use only Renison • Production from 1968: 23Mt @ 1.4% Sn (225Kt recovered) • Reserves 4.12Mt @ 1.28% Sn (53Kt) • Resources 11.6Mt @ 1.76% Sn (204Kt) • 2013/14: 7,500tpa Sn @ A$15,000 est • EBITDA MLX share (50%) ~ $34Mpa at current prices, ~ $56Mpa

  8. Slide 8: One of the Largest Tin Systems in the World

    TIN ONE OF THE LARGEST TIN SYSTEMS IN THE WORLD For personal use only 2 km 8

  9. Slide 9: Significant Expansion Potential

    TIN SIGNIFICANT EXPANSION POTENTIAL For personal use only AREA 4 9

  10. Slide 10: Rentails – The Renison Expansion Project (50%)

    TIN “RENTAILS” – THE RENISON EXPANSION PROJECT (50%) For personal use only Proposed Infrastructure Proposed Renison Expansion Project Renison Mine Renison Mine Infrastructure Infrastructure

  11. Slide 11: Rentails – The Renison Expansion Project (50%)

    TIN “RENTAILS” – THE RENISON EXPANSION PROJECT (50%) For personal use only • A tailings re-treatment project applying new and proven technology. • Total JORC Resource: - 20.6 Million tonnes @ 0.45%Sn, 0.21%Cu. • Production of 5,000tpa Sn and 2,000tpa Cu for 10 years. • EBITDA MLX Share ~$30Mpa at cu

  12. Slide 12: Forecast weeks' supply and prices

    TIN For personal use only Forecast weeks’ supply and prices Weeks’ supply, price in US$/tonne 14.0 Forecast 40,000 Weeks' supply Prices 12.0 35,000 30,000 10.0 25,000 8.0 20,000 6.0 15,000 4.0 10,000 Renison Mine 2.0 Infrastructure 5,000 0.0 0 1990 1995 2000 2005 2010 2015 12 Base graph after Peter

  13. Slide 13: Tin Supply Will Remain Tight for Many Years

    TIN TIN SUPPLY WILL REMAIN TIGHT FOR MANY YEARS For personal use only Minimal projects in the pipeline, most requiring significantly higher prices for development 1 at feasibility stage 4 at scoping stage ~10 with JORC compliant 2 Years 5 Years 10 Years resources ~60 with historical resources 10 Yea

  14. Slide 14: Gold Division

    GOLD DIVISION For personal use only Higginsville (above) and South Kalgoorlie Gold Operations

  15. Slide 15: Key Attributes of Gold Division - Westgold

    GOLD KEY ATTRIBUTES OF GOLD DIVISION - WESTGOLD For personal use only Four Gold Projects 1. Higginsville Gold Operations – in production (ex. Alacer Gold). 2. South Kalgoorlie Gold Operations – in production (ex. Alacer Gold). 3. Central Murchison Gold Project – completed DFS. 4. Rover 1 Gold Projec

  16. Slide 16: Two Production Centres

    GOLD TWO PRODUCTION CENTRES For personal use only • Higginsville Operations (“HGO”)- mainly underground operation (Trident & Chalice), 1.3Mtpa CIP Plant, 1.5Moz Resource, producing at circa 150,000ozpa. • South Kalgoorlie Operations (“SKO”) is an open pit & potential underground operation. 1.2Mtpa P

  17. Slide 17: Chalice – Ready for additional development

    GOLD CHALICE – Ready for additional development For personal use only Available for stoping Approximate decline face Ready for immediate development Open at depth 17 ~1400 oz/vm

  18. Slide 18: Chalice Mine - High Grade – Limited by Drilling

    GOLD CHALICE MINE - HIGH GRADE – LIMITED BY DRILLING For personal use only Current Decline 1045 R.L Position (0930 R.L) 1020 R.L 1016 R.L Olympus 0988 – 1016 R.L* 167.2kt @ 5.1 g/t for 27.4k Oz 980 Oz / Vm 0988 R.L Olympus 0960 – 0988 R.L* 313.5kt @ 5.8 g/t for 58.7k Oz 2,097 Oz / Vm 0960 R.L Olympu

  19. Slide 19: Existing Trident Reserve – Open at Depth

    GOLD EXISTING TRIDENT RESERVE – OPEN AT DEPTH For personal use only Remnants 700,000 tonnes @ 4.5 g/t 100,000 oz Decline extension 1,300,000 tonnes @ 6.6 g/t Open at 275,000 oz depth 19

  20. Slide 20: Trident Underground Mine – High Grade Reserves

    GOLD TRIDENT UNDERGROUND MINE – HIGH GRADE RESERVES For personal use only Artemis Stoping 95kt @ 12.5 g/t for 38k Oz Helios Stoping (0550 R.L Up – Sept13 onwards) 51kt @ 10.0 g/t for 16k Oz (0550 R.L Up – Sept13 onwards) Current Decline Position (0550 R.L) Artemis 0514 – 0550 R.L* 569 Oz / Vm Helios

  21. Slide 21: Open Pit Probable Reserves

    GOLD OPEN PIT PROBABLE RESERVES For personal use only Ore Diluted Mineable Reserves Grade Ounces (k. Deposit (MT) (g/t) oz) Pluto 0.3 1.6 13.4 Wills 0.1 3.1 6.9 Mitchell 0.8 1.6 40.1 Cowan 0.9 1.7 49.9 Pioneer 0.1 1.5 3.5 Fair Play 0.3 1.8 15.7 Musket 0.2 2.9 16.4 Total 2.5 1.8 145.9 21

  22. Slide 22: South Kalgoorlie Exploration

    GOLD SOUTH KALGOORLIE EXPLORATION For personal use only • World Class Tenure continuously operated for over 25 years. • Major gold bearing faults. • Next 12 months – Toll treatment and process significant stockpiles; – Priorities exploration of identified discoveries and additional targets; – Build su

  23. Slide 23: Central Murchison Gold Project – BFS Completed

    GOLD CENTRAL MURCHISON GOLD PROJECT – BFS COMPLETED For personal use only Big Bell Total Mineral Resource - Mineral Resource 61.6Mt @ 2.52g/t 4.96Moz 43.6Mt @ 2.47g/t Au - Ore Reserves Initial Ore Reserve 9.8Mt @ 2.54g/t Au 15.5Mt @ 2.36g/t 1.2Moz Big Bell Cuddingwarra - Mineral Resource 6.25Mt @ 2.

  24. Slide 24: Scoping Study Outcomes

    GOLD SCOPING STUDY OUTCOMES For personal use only 24

  25. Slide 25: Targeting High Grade – IOCG Mineralisation

    GOLD TARGETING HIGH GRADE – IOCG MINERALISATION For personal use only 474m 3.1% Cu, 0.32g/t Au 548m 9.23g/t Au 475m 549m 9.0% Cu, 1.06g/t Au 10.30g/t Au 476m 10.9% Cu, 1.28g/t Au 550m 9.28g/t Au 551m 6.46g/t Au 477m 21.47% Cu, 1.41g/t Au 552m 478m 26.5g/t Au 0.8% Cu, 0.12g/t Au 553m 8.82g/t Au 479m

  26. Slide 26: Nickel Division – Central Musgraves Project

    NICKEL DIVISION CENTRAL MUSGRAVES PROJECT For personal use only 26

  27. Slide 27: Central Musgrave Project

    NICKEL CENTRAL MUSGRAVE PROJECT For personal use only • A major land holding – oxide & sulphide nickel, copper and platenoids. • A mining agreement covering 18,000km2 (projects + infrastructure). • The world class Wingellina Nickel Project - one of the largest undeveloped nickeliferous ‘pure oxide’

  28. Slide 28: Wingellina Project – Phase Feasibility

    NICKEL WINGELLINA PROJECT – PHASE 1 FEASIBILITY For personal use only Ore Reserves 167.5M tonnes @ 1% Ni, 0.08% Co Annual Metal Production 40,000 tonnes Ni, 3,000 tonnes Co Mine Life 40+ Years Metal Price Assumptions Ni US$20,000/t, Co US$45,000/t Exchange Rate Assumption AUD 0.85 Production Cost US

  29. Slide 29: Wingellina - Current Status

    NICKEL WINGELLINA - CURRENT STATUS For personal use only • Feasibility study (±25%) was completed in 2008. • In 2010 Metals X signed a ground breaking Mining Agreement with the native title holders, the first ever negotiated in the region. • Environmental approvals are underway and expected to comple

  30. Slide 30: Metals X Limited - Scorecard

    TIN NICKEL GOLD CASH INVESTMENTS NO DEBT METALS X LIMITED - SCORECARD For personal use only • A$50M Cash & Investments. • Market Capitalisation ~ A$250M, EV A$200M, Debt Free. • Renison - Strong Cashflows - EBITDA (50% MLX) A$30-55Mpa, 7-8,000tpa of tin. • Rentails Expansion Project (50% MLX) adds E

  31. Slide 31: Disclaimer

    TIN NICKEL GOLD DISCLAIMER For personal use only General Disclaimer This presentation has been prepared by Metals X Limited (“Metals X” or the “Company”). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Company. This presen

  32. Slide 32: Thank You

    ASX :MLX OTCQX :MTXXY For personal use only A DIVERSIFIED MINER TIN DIVISION GOLD DIVISION NICKEL DIVISION “World Class - Renison” HGO &SKO – 7.2Moz “World Class – Wingellina” Operating CMGP – 5 Moz Development Ready Strong cash flow Rover 1 – 1.2 Moz 40 yr + Project Other Tin Projects 150,000ozpa+ p

Metals X — Shareholder Meeting (November 2013) on 6ix