Mount Ridley Mines Limited · ASX:MRD
Mount Ridley Mines — AFR Presentation December 2022
21 slides from Mount Ridley Mines's conference presentation, Dec 21, 2022
Slide 1: Uncovering a Domestic Rare Earths Province
Uncovering a Domestic Rare Earths Province AFR PRESENTATION – DECEMBER 2022 ASX: MRD
Slide 2: Disclaimers & Forward-Looking Statements
DISCLAIMERS & FORWARD-LOOKING STATEMENTS Disclaimer: This presentation has been prepared by Mount Ridley Mines (ACN 092 304 964) (MRD) and is current as at the date of this document. The information contained in this presentation is for informational purposes only and does not constitute an offer to
Slide 3: Our mission is to delineate a globally significant source of critical rare earths
“Our mission is to delineate a globally significant source of CRITICAL RARE EARTHS to transform supply chain security” Peter Christie, Chairman – December 2022 AFR PRESENTATION – DECEMBER 2022 ASX: MRD
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Esperance - Southern Ocean District: a new rare earth elements province PROVINCE SCALE RARE EARTHS MARKET • Peer group has collectively identified a 250 km (East-West) by 60 • China accounts for 60% of REE mining and 87% of km (North-South) clay-hosted REE mineralisation footpr
Slide 5: Corporate Overview
CORPORATE OVERVIEW Opportunity for significant shareholder returns Share Price Shares on Issue Board 0.5c 7,785m Peter Christie Simon Mitchell Market Capitalisation Options1 Guy Le Page Chairman Non-Executive Director Non-Executive Director Accountant & Geologist & Corporate Governance Geologist & C
Slide 6: Mining and Processing: Clay vs Hardrock
MINING AND PROCESSING: CLAY vs HARDROCK CLAY-HOSTED REE STAGE HARD ROCK-HOSTED REE - Requires blasting-higher mining costs - Near surface mining & relatively lower operating costs Mining - Potentially higher strip ratios - HREO dominant - Bastnaesite & Monazite, LREO dominant - Lower TREO grade Mine
Slide 7: Significant Position in Emerging Rare Earths Province
SIGNIFICANT POSITION IN EMERGING RARE EARTHS PROVINCE Mineralisation in drilling > 250 km E-W (Cascade to Splinter) and 60 km N-S (Cowalinya to Marcellus) Cowalinya Circle Valley Newmont Splinter Cascade Marcellus 7
Slide 8: The Mount Ridley Project
THE MOUNT RIDLEY PROJECT Located in a Tier 1 mining jurisdiction Located predominantly on crown land Southern tenements 35km north-east of the deep-water port of Esperance Adjacent to Goldfields-Esperance Highway, railway and gas pipelines 20 km from Esperance Airport Renewable wind and solar energy
Slide 9: Green Production Potential
GREEN PRODUCTION POTENTIAL Green metals produced responsibly Esperance’s Current Mix Western Green Energy Hub (WGH) Following the opening of the Shark Lake Renewables Hub in May 2022, Proposed 50GW, A$100bn renewable energy hub Esperance is currently powered by nearly 50% renewable energy New integr
Slide 10: Excellent Drilling Results Throughout Project
EXCELLENT DRILLING RESULTS THROUGHOUT PROJECT High grades and thick near surface intersections within an area of 1,200 km2 768 drillholes completed for 32,600m Mineralisation encountered over a 40km x 30km (1,200 km2) footprint and remains open in all directions Average grades of 1,062 ppm at 500 pp
Slide 11: Section Through the Mia Prospect
SECTION THROUGH THE MIA PROSPECT Section is 6.4 km wide with holes 400m apart 11
Slide 12: South West REE Projects Deliver Outstanding Grades
SOUTH WEST REE PROJECTS DELIVER OUTSTANDING GRADES Average TREO (ppm) at select cut-off grades across District 2,500 ppm Mt Ridley Mines Ltd (ASX: MRD) O6 Metals Limited (ASX: OD6) Meeka Metals Ltd (ASX: MEK) Heavy Rare Earths Ltd (ASX: HRE) 2,000 ppm 1,911 ppm 1,836 ppm 1,698 ppm Grade - Parts per
Slide 13: High-Value Rare Earths Baskets Across District
HIGH-VALUE RARE EARTHS BASKETS ACROSS DISTRICT Basket value (A$/kg) at spot & historical REO prices $ 140 Mt Ridley Mines Ltd (ASX: MRD) O6 Metals Limited (ASX: OD6) $ 121 Meeka Metals Ltd (ASX: MEK) $ 120 Heavy Rare Earths Ltd (ASX: HRE) $ 113 $ 100 $ 93 $ 83 $ 79 $ 80 $ 72 A$/kg $ 60 $ 60 $ 52 $ 4
Slide 14: REO Basket Distribution
REO BASKET DISTRIBUTION Mt Ridley Mines: The right mix Rare Earths Basket Distribution (by Grade) Rare Earths Basket Distribution (By Value) Tm2O3, 0.2% Yb2O3, 1.5% CeO2, 0.6% Lu2O3, 3.3% La2O3, 0.4% Ho2O3, 0.7% Er2O3, 1.8% Lu2O3, 0.2% Yb2O3, 0.4% Sm2O3, 0.2% Gd2O3, 3.7% Tm2O3, 3.9% La2O3, 15.8% Er2
Slide 15: Processing
PROCESSING Committed to identifying metallurgical solutions Mineralisation is Soluble Beneficiation Longer-Term Met Work • Partial digest weak aqua regia took 80% • Beneficiation studies are underway with • Diamond drilling for metallurgical LREO, 76% HREO and 80% CREO into ANSTO samples, mineralogy
Slide 16: Planned Work Program
PLANNED WORK PROGRAM Aggressive exploration program planned CY22Q4 CY23Q1 CY23Q2 CY23Q3 CY23Q4 1,000m Diamond Drilling 50,000m Regional Aircore Drilling 50,000m Primary Target Expansion Aircore Drilling Metallurgical Studies Environmental Studies Maiden JORC Resource 16
Slide 17: Chinese Rare Earths
CHINESE RARE EARTHS Dependency on politically insecure and zero-growth Chinese HREE production • China currently accounts for 60% of REE mining and 87% of processing Chinese Rare Earth Production Quotas by Hardrock and Clays • REE product supply is vulnerable to Chinese policy/export restrictions (e
Slide 18: Rare Earths Demand - Supply
RARE EARTHS DEMAND - SUPPLY Rare earths are required for green transition 175,000 t • NdPr is required for permanent magnets in EVs and wind turbines 150,000 t 125,000 t 8% CAGR • Each EV contains approx. 1.2 kg NdPr, onshore wind turbines contain approx. 200 kg and offshore turbines contain up to 2
Slide 19: Government Incentives
GOVERNMENT INCENTIVES Governments becoming stakeholders in ex-China REE projects Source: ABC News (2022), AFR (2022), S&P Global market Intelligence (2022), ASX Announcements (2022), AFR (2022), US Department of Defence (2022) 19
Slide 20: Investment Summary
INVESTMENT SUMMARY Positioned to advance new rare earths frontier Drilling Highlights Location Catalysts Outlook Average TREO grade of 1,062 Proximate to deep-water port, 100,000m aircore drilling Increase in demand for CREO ppm (500 ppm TREO cut-off) highway, rail, gas pipeline, program to commence
Slide 21: Contact Information
CONTACT INFORMATION + 61 8 6165 8858 info@mtridleymines.com.au mtridleymines.com.au Level 1, 1297 Hay Street, West Perth WA 6005 AFR PRESENTATION – DECEMBER 2022 ASX: MRD 21