Europa Metals Limited · JSE:EUZ
Europa Metals — Investor Presentation (November 2020)
24 slides from Europa Metals's investor presentation, Nov 24, 2020
Slide 1: Toral Pb, Zn & Ag Project, Spain
Lead, Zinc, Silver AIM, Altx: (EUZ) Toral Pb, Zn & Ag Project, Spain Significant Indicated and Inferred JORC (2012) resource, Spain Metallurgy and XRT ore sorting proving up high grade concentrates Scoping Study and PEA complete – PFS underway
Slide 2: Cautionary Statement/Disclaimer
Toral Pb, Zn & Ag Project, Spain Cautionary Statement/Disclaimer This presentation has been prepared by Europa Metals Limited (‘EUZ’, ‘Europa’, ‘EM’ or ‘the To the fullest extent possible Europa and its Directors expressly disclaim any liability arising under Company’, AIM and Altx: EUZ). It should
Slide 3: Company Overview
Toral Pb, Zn & Ag Project, Spain Company Overview Board and Management Europa Metals Ltd* AIM, Altx Listed (EUZ) Australian Registered Ultimate Holding Company ACN 097532 137 Europa Metals Iberia, S.L Ferrum Metals Limited Myles Campion Laurence Read Dan Smith Dr Evan Kirby Jesus Montero (100% subsi
Slide 4: Company Overview
Toral Pb, Zn & Ag Project, Spain Company Overview Board and Management Europa Metals Ltd* AIM, Altx Listed (EUZ) Australian Registered Ultimate Holding Company ACN 097532 137 Europa Metals Iberia, S.L Ferrum Metals Limited Myles Campion Laurence Read Dan Smith Dr Evan Kirby Jesus Montero (100% subsi
Slide 5: Toral Lead, Zinc and Silver Project (Spain)
Toral Pb, Zn & Ag Project, Spain Toral Lead, Zinc and Silver Project (Spain) Province of León - established mining region Close cooperation with Junta of Castilla y León has allowed delivery of multiple work programmes Pro mining jurisdiction >190 Active Investigation permits >30 Mining Licences gra
Slide 6: Toral – Spain, A European Metals Base
Toral Pb, Zn & Ag Project, Spain Toral – Spain, A European Metals Base Close cooperation Province of with Junta of Industrialized Infrastructure León – Castilla y Leon area – regional corridor – Grant process established has allowed mining road, rail & being pursued mining region delivery of experti
Slide 7: Recent News
Toral Pb, Zn & Ag Project, Spain Recent News July/August 2020 November 2020 October 2020 Share consolidation Renewal of Toral Investigation E466,801 Spanish Government Board changes Permit until 15 November 2023 grant secured via a loan: Product Marketing agreement 18 November 2020: Innovation partn
Slide 8: Toral Pb, Zn & Ag Project, Spain
Toral Pb, Zn & Ag Project, Spain Toral Pb, Zn & Ag Project, Spain Indicated resource category** •3.8 Mt @ 8.1% Zn Equivalent (including Pb credits) and 30 g/t Ag NPV approximate indicated resource $ •US$156m (8% discount rate) •Approx. 180,000 . contained tonnes Zinc, 150,000 . contained tonnes Lead
Slide 9: Toral – Block Model
Toral Pb, Zn & Ag Project, Spain Toral – Block Model The updated mineral resource estimate as of August 2020 for the Toral lead-zinc-silver deposit comprises: § High grade core identified in initial work, area has been focus of recent campaigns and successfully upgraded from inferred to indicated. §
Slide 10: Toral – Resource Estimate JORC (2012 Edition)
Toral Pb, Zn & Ag Project, Spain Toral – Resource Estimate JORC (2012 Edition) Table 1: Summary of Indicated and Inferred mineral resources, reported at a 4.0% Zn equivalent cut-off grade (Zn Price:US$2,680/t,US$c/lb1.215, Pb Price Used:US$2,100/t, US$c/lb0.952. Ag Price Used:US$16.2/oz. Figures are
Slide 11: Toral – Metallurgy
Toral Pb, Zn & Ag Project, Spain Toral – Metallurgy Zinc Concentrate § 86% Zn recovery to a 60.0% Zn concentrate Lead/Silver Concentrate § 87% Pb recovery to a 79.2% Pb concentrate; § 85% Ag recovery to 512ppm Ag within Pb concentrate Bulk Concentrate § Analysis indicates that this ore type may be b
Slide 12: Toral – Preferred Mining Option
Toral Pb, Zn & Ag Project, Spain Toral – Preferred Mining Option § Sub-Level Longhole Stoping (SLOS) Entry to mine via a principal decline reaching various levels § Access to the mine will be by both ramp (labour, equipment, rock) and vertical shaft (rock hoisting only) § During the initial years of
Slide 13: Preliminary Economic Report highlights
Toral Pb, Zn & Ag Project, Spain Toral – Bara Preliminary Economic Report highlights A graph of mined production, revenues and costs, showing major project milestones is presented 6 120000 Break-even LOM ends on high grade, extensive at depth 5 100000 4 80000 Grade % $,t, '000 3 60000 2 40000 1 2000
Slide 14: Toral – Preliminary Economic Report highlights
Toral Pb, Zn & Ag Project, Spain Toral – Bara Preliminary Economic Report highlights Summary Mining Schedule (Years) Key observations: •Payback in Year 4; •Year 12 ends in high grade zinc; and •Resource expansion potential exists at depth and along strike to the east. Totals 0 1 2 3 4 5 6 7 8 9 10 1
Slide 15: Toral – Preliminary Economic Report highlights
Toral Pb, Zn & Ag Project, Spain Toral – Bara Preliminary Economic Report highlights Financial Metrics $66,038,554 Total Revenue $ 962m USD Operating Cost $ 477m USD $370,476,205 EBITDA $ 471m USD $526,567,734 LOM Capex $ 130m USD Net Cashflow $ 340m USD Pre-Tax NPV (8%) $ 156m USD Pre-Tax IRR 31.3
Slide 16: Toral – Preliminary Economic Report highlights
Toral Pb, Zn & Ag Project, Spain Toral – Bara Preliminary Economic Report highlights 2020 2018 Resource Indicated Tonnes 3.8m - Inferred Tonnes 13m 16m Total Tonnes 17m 16m Av. ZnEq.% 7.3 7.5 Av. Zn% 4.2 3.9 Av. Pb% 3 3.1 Av. Ag g/t 24 24 Mining Rate tpa 700,000 450,000 Grade ZnEq% 7.6% 7.5% Method
Slide 17: Europa – Next 12 months
Toral Pb, Zn & Ag Project, Spain Europa – Next 12 months Current Technical work programme • Additional resource drilling to: oConvert additional Inferred resources to the Indicated category; oIncrease its knowledge base with respect to the potential lower-grade mineralisation zones to potentially br
Slide 18: Peer Group Comparison
Toral Pb, Zn & Ag Project, Spain Peer Group Comparison 18
Slide 19: Summary
Toral Pb, Zn & Ag Project, Spain Summary § Considerable exploration work completed demonstrating potential for progressing high-grade lead, zinc and silver project in Spain § Significant indicated and inferred resource open at depth and along strike § Metallurgical results very promising, with a hig
Slide 20: Toral Pb, Zn & Ag Project, Spain
Toral Pb, Zn & Ag Project, Spain Lead, Zinc, Silver AIM, Altx: (EUZ)
Slide 21: 12-month commodities performance
Toral Pb, Zn & Ag Project, Spain 12-month commodities performance § 12 month performance across all three metals strong § Silver continues to react to high gold prices and global conditions § Zinc supply loses marginal producers, stockpiles low following five year deficit as Chinese steel underpins
Slide 22: History: +40,000m of historic drilling
Toral Pb, Zn & Ag Project, Spain Toral – History + 40 000m 1980’s Core stored Europa of historic Penaroyya to in Spanish Metals drilling 2007 Lundin government Delivers: Lithoteca § Maiden resource published in 2017 in § Metallurgical test programmes complete accordance with JORC (2012 Edition) § Ge
Slide 23: Further information
Toral Pb, Zn & Ag Project, Spain Further information § Hydro geological work to PFS level § Resource drilling to increase confidence levels and size of Measured and Indicated § Environmental, waste management, metallurgy and geotechnical work § G&A, working capital topco and Spain operations 23
Slide 24: De-risking project through PFS
Toral Pb, Zn & Ag Project, Spain De-risking project through PFS Established team have completed significant amounts of exploration work since project acquisition with 2020 work including: § JORC (2012) resources update with new Indicated resources/Phase III metallurgy underway by Wardell Armstrong i
Europa Metals — Investor Presentation (November 2020) on 6ix