First Tin Plc · LSE:1SN
First Tin — Investor Presentation (December 2023)
17 slides from First Tin's investor presentation, December 2023
Slide 1: High Margin, Advanced Tin Projects in Australia and Germany
HIGH MARGIN, ADVANCED TIN PROJECTS IN AUSTRALIA AND GERMANY Investor Presentation December 2023
Slide 2: Disclaimer
Disclaimer This document (“Presentation”) has been prepared by First Tin plc a public limited company incorporated and not immediately returning it or attending the accompanying verbal Presentation, you are deemed to represent, registered in England and Wales under company number 07931518 “Company”)
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 proje
Slide 4: Highly experienced board
Highly experienced board MANAGEMENT & BOARD OWN c.10% OF FIRST TIN ALIGNMENT WITH SHAREHOLDERS Bill Scotting Charles Cannon-Brookes Catherine Apthorpe Ross Ainger Ingo Hofmaier Nicholas Mather Chief Executive Officer Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive
Slide 5: Why tin? Why now?
Why tin? Why now? LONG-TERM TIN DEFICIT EXPECTED FROM 2026 • Tin is a critical metal, vital in any plan to decarbonise and electrify the world • Demand driven by: — Electric Vehicles - represent 15% of car sales and expected to have a 60% market share in 2030 — Solar – experienced 40% growth year on
Slide 6: Tin supply hiatus in H2 2023
Tin supply hiatus in H2 2023 TWO LARGEST TIN PRODUCERS PROPOSE EXPORT RESTRICTIONS Myanmar: • The Wa State announced a suspension of all mining operations from August 1st 2023 and has confiscated all mineral rights owned privately • Chinese smelters dependent on Wa State tin concentrate supply are f
Slide 7: 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. Taronga is the 8th largest tin resource globa
Slide 8: Taronga – Australia
Taronga – Australia FIFTH LARGEST UNDEVELOPED TIN RESERVE GLOBALLY The updated JORC MRE is reported using a 0.05% tin cut-off to a maximum depth of 300m TARONGA IS A LOW RISK ASSET IN A LOW RISK JURISDICTION below surface, delivering a 240% increase in size on the previous MRE Category Tonnage Grade
Slide 9: Crushing test-work
Crushing test-work CONFIRMS SIGNIFICANT UPGRADING EFFECT FROM SIMPLE COARSE CRUSH, JIG AND SPIRAL PROCESSING • Liberation of cassiterite can be achieved simply - coarse crushing to 12mm and screening at 2.8mm • Due to the selective breakage along veins • The plus 2.8mm fraction is a discard while th
Slide 10: Taronga conceptual flowsheet
Taronga conceptual flowsheet SIMPLE AND COST-EFFECTIVE PROCESSING. NO FINE TIN RECOVERY PROPOSED - THIS MAY BE LOOKED AT LATER TO INCREASE RECOVERY FIRST TIN INVESTOR PRESENTATION | Q4 2023 9
Slide 11: Taronga – Australia
Taronga – Australia TARONGA IS LOCATED CLOSE TO A RENEWABLE ENERGY ZONE Taronga work programme for 2023/24 Wind & Solar resource availability • Resource update mid 2023 ✓ • Wind speed: ~7.8m/s at 150m, capacity factor of ~40% • Advance Feasibility for completion Q1 24, providing up-to-date economics
Slide 12: Tellerhäuser - Germany
Tellerhäuser - Germany SIGNIFICANT LEVERAGE TO HIGHER TIN PRICES JORC resource estimate 2021 Assay Contained Metal Category Mt (% Sn) (Tonnes) Indicated 2.0 1.0 19,000 Inferred 3.3 1.0 34,000 Total 5.3 1.0 53,000 * Resources reported in accordance with JORC 2012 guidelines (details and Table 1 on Fi
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 Ticker 1SN Stakeholders Shares % Shares in Issue 266m Clara Resources Australia Ltd 60,000,000 22.60% Market Cap (as at 20th Dec 2023) £12.6m Baker Steel Resources Trust Limited 37,128,014 13.98% Directors 2
Slide 15: Peer comparison
Peer comparison ENTERPRISE VALUE PER TONNE OF CONTAINED TIN RESOURCE. $2,500 Graph shows $2,000 that First Tin is ~ $57/Tonne of contained tin vs $1,500 UK peer Cornish Metals at ~ $422/Tonne $1,000 $500 $0 ALPHAMIN METALS X CORNISH METALS ELEMENTOS LIMITED STELLAR RES FIRST TIN Enterprise value per
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