Eastern Platinum Limited · TSX:ELR
Eastern Platinum — Investor Webinar (November 2023)
27 slides from Eastern Platinum's conference presentation, Nov 22, 2023
Slide 1: Advancing PGM Projects in South Africa
Advancing PGM Projects in South Africa Investor Webinar November 22, 2023 TSX:ELR | JSE:EPS
Slide 2: Forward Looking Statements
Forward Looking Statements The information contained in this Presentation is provided for informational purposes only and does not constitute an offer to sell, or This Presentation contains certain statements that may be “forward-looking statements” or “forward-looking information” within the the so
Slide 3: Eastplats Highlights
Eastplats Highlights Eastern Platinum Limited (Eastplats) owns, directly egend impopo ush eld ompl ex and indirectly, a number of platinum group metals pera tions (PGM) and chrome assets in South Africa roje cts ilometres All Eastplats’ properties are situated within the auteng orth est Bushveld Com
Slide 4: Leadership Team
Leadership Team MANAGEMENT Wanjin Yang Wylie Hui Haiying Wang Chief Executive Officer Chief Financial Officer & Corporate Secretary Vice President . . Mr. Yang is a senior. exploration geologist with over 30 years’ of Mr. Hui brings over 25 years of financial and operational experience to his Haiyin
Slide 5: Chrome & PGM Demand
Chrome & PGM Demand Chrome • Properties of chrome: hard and resistance to corrosion Clean energy technologies may impact need for • Common uses of chrome: kitchen appliances, food chrome & PGMs processing equipment, medical and dental tools, and clean energy technologies Source: International Energy
Slide 6: Focus on PGM
Focus on PGM Market Outlook1 • Internal combustion engines (ICE) to remain a large, but declining component of the drivetrain mix through the 2030s • Growth in vehicle production driven by battery electric vehicles (BEV) and fuel cell electric vehicles (FCEV), the latter of which still require PGMs
Slide 7: PGM-Focused Portfolio
PGM-Focused Portfolio CROCODILE RIVER MINE (CRM) KENNEDY’S VALE/SPITZKOP MAREESBURG • Located on the western limb of the BCX • Project is situated on the eastern limb of the • Property lies in the southern part of the BCX, covering 11,683 hectares eastern limb of the BCX, covering 2,129 • Approx. 70
Slide 8: High-quality Chrome and PGM Project Pipeline
High-quality Chrome and PGM Project Pipeline Crocodile River Mine Retreatment Project - Chrome Retreatment Mareesburg Project - PGM Underground - PGM Main Plant • Remining Zandfontein tailings area to • Circuit D operations began Q4 2020 by • Circuit A to be commissioned during 2024 recover chrome p
Slide 9: Financial Results
Financial Results Focus on operational efficiency initiatives to lower costs and improve bottom line Revenue Mine Operating EPS 90 Income 0.08 80 30 0.06 70 25 0.04 60 0.02 20 50 0 40 15 -0.02 30 -0.04 10 20 -0.06 5 10 -0.08 0 0 -0.1 2020 2021 2022 YTD 2023 2020 2021 2022 YTD 2023 2020 2021 2022 YTD
Slide 10: Crocodile River Mine - Revenue & EBITDA
Crocodile River Mine - Revenue & EBITDA Revenue US$000s EBITDA US$000s Revenue US$000s EBITDA US$000s 40,000 Chrome Revenue PGM Revenue EBITDA 12,000 10,000 35,000 8,000 PGM to account for 30,000 6,000 25,000 4,000 65% of Revenue by 2,000 2025-2026 20,000 - 15,000 (2,000) (4,000) 10,000 (6,000) 5,00
Slide 11: Chrome and PGM Production
Chrome and PGM Production Tailings retreatment project Q3 2023 Total Project to Chrome production 2019 2020 2021 2022 (YTD) Q3 2023 (YTD) Total tailing re-mined Tonnes 1,778,525 2,328,732 2,504,777 2,548,785 1,766,928 10,927,747 Total chrome concentrate Tonnes 588,006 987,003 773,274 602,112 377,110
Slide 12: Zandfontein Mine Facility Map
Zandfontein Mine Facility Map 0 250 500 m TSX: ELR | JSE: EPS 12
Slide 13: Zandfontein Plant & Equipment
Zandfontein Plant & Equipment TSX: ELR | JSE: EPS 13
Slide 14: Mineral Reserves and Resources
Mineral Reserves and Resources Mineral Reserves January 1, 2022 Delivered 4E grade 4E content tonnes kt g/t kg koz Proved 2,282 4.75 10,829 348 Probable 12,298 3.48 42,777 1,375 Total 14,580 3.68 53,605 1,723 Mineral Resources January 1, 2022 Mineral resource cut-off of 1.7 g/t 4E applied Geo Loss M
Slide 15: Crocodile River Mine – Economic Highlights
Crocodile River Mine – Economic Highlights Chrome cashflow upside 90,000 4.50 1.7Moz 4E Reserves (Zanfontein) 80,000 4.00 US $1,502/oz (including TSF) 70,000 3.50 US $1,405/oz(excluding TSF) 60,000 3.00 Cost (4E)(AISC) Recovered Oz Grade (g/t) 50,000 2.50 US $202 m (including TSF) 40,000 2.00 US $18
Slide 16: Zandfontein Underground Soft Restart Plan
Zandfontein Underground Soft Restart Plan 22-year Life of Mine Zandfontein UG Immediate minable stoping Additional capital needed to fully re-start (proved) for 2 years with 10 Zandfontein underground operations stoping crews on average Total plus probable reserves on USD Item 4-5 level Mining Capit
Slide 17: Zandfontein Underground Soft Restart Tonnage Ramp-Up
Zandfontein Underground Soft Restart 12-month ramp Tonnage Ramp-Up 50,000 45,000 40,000 35,000 30,000 TONS/MONTH 25,000 20,000 15,000 10,000 5,000 - Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 17
Slide 18: Valuation Comparison
Valuation Comparison 182.6x EV/RESERVE 2024E1,2 EV/RESOURCE 2024E1,2 Opportunity to Re-rate by: Re-negotiating nion oal payable 112.3x 110.2x 108.3x Re-starting production (initial and full) at Zandfontein underground; EV/RESERVE low capital costs ersus peers 73.9x AVG – 73.2x 66.3x 62.3x 60.2x C
Slide 19: PGM Prill Split Underground Model
PGM Prill Split Underground Model Industrial-driven, benefits from market demand and strong PGM metal price CRM UG2 reef Prill split 4E Zandfontein UG Ore PGM Basket Price Chart – (2000-2023) 4E US$ $4,500.00 Rhodium, Gold, 0.77% 9.86% $4,000.00 $3,500.00 $3,000.00 Palladium, $2,500.00 27.32% $2,000
Slide 20: Focusing on Operational Efficiencies
Focusing on Operational Efficiencies • Long-term price consensus for the global PGM basket is expected to be inline with today’s prices; however, ~ 90% of PGM producers operate at or below this cost ZAR1,997 / milled t ($1,405 / oz 4E) • CRM cost per ounce based CRM on the 2022 technical report, whi
Slide 21: Processing – Plant flow diagram
Processing – Plant flow diagram TSF remined tailings DC Tank Concentrate Tailings Overflow Lamella Thickener Chrome WHIMS plant Cyclones Thickeners Process water tank Concentrate PGM Circuit B Scavenger/ PGM Circuit D Drying belts Stacker Cyclone Tailings Concentrate Tailings PGM concentrate dispatc
Slide 22: Surface and Underground Infrastructure
Surface and Underground Infrastructure Past investment of USD $526m+ and USD $106m+ since new leadership appointed in 2016. Total investment to date over USD $632m Main pump station Explosive storage Vertical shaft Ore silo Main conveyor on 4 level Chairlift Rock winder Man winder TSX: ELR | JSE: EP
Slide 23: High Safety Standards
High Safety Standards Committed to providing a safe working environment Zero Harm Safety Culture ✓ 1.16 million fatality free shifts as of September 2023 (over 10-year period) ✓ Hydropower and nets for support ✓ State of the art support design to improve efficiencies and ergonomics ✓ Modernized scra
Slide 24: Social Labour Plan (SLP) - Going Beyond Mining
Social Labour Plan (SLP) - Going Beyond Mining ZAR4.8m (~US$260k) spent on SLP1 since 2021 Local employment Stakeholder forums SMME business development This project creates In place and operating well Currently in place. Have trained 56 local through the assistance of businesses in tendering, finan
Slide 25: Outlook
Outlook • Ramp-up the Zandfontein underground operations; Share Capitalization (November 10, 2023) • Confirm capital plans to support the full re-opening of Zandfontein underground operations at the CRM; • Complete the optimization of the chrome recovery plant for the 5.9M 201.9M Warrants Retreatmen
Slide 26: Questions?
Questions? Eastern Platinum Limited T: 604 800 8200 F: 604 2104516 info@eastplats.com www.eastplats.com For investor relations inquiries, T: +27 (0) 12 381-1800 contact: Vancouver South Africa Wanjin Yang, CEO 1080 – 1188 West Georgia Crocodile River Mine Wylie Hui, CFO and Corporate Street Zandfont
Slide 27: What Are We Doing Differently?
What Are We Doing Differently? Aspect Previous operations New design Advantage • More effective power • Higher penetration In-stope Drilling Handheld with compressed air Handheld with hydro power • Reduced noise • Reduced heat generation • Sticks • Timberless • Reduced logistics • 1.8m roofbolts • 2