Slide 1: Half Yearly Results Presentation
For personal use only Bathurst Resources Half Yearly Results Presentation February 2018
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by and issued by Bathurst Resources Limited (Bathurst or BRL or Company) to assist it in informing interested parties about the Company and its progress which is current as at the date of this For personal use only presentation. This presentation is for
Slide 3: Overview of Bathurst Resources
Overview of Bathurst Resources Bathurst Resources is a leading New Zealand coal producer with domestic, export coking For personal use only and opportunities to expand export production. Capital Structure Share Price Performance Share Price (23 Feb 2018) $0.16 Shares Outstanding (Bn) 1.513 Market Ca
Slide 4: Highlights
Highlights Bathurst has delivered on its strategy across operations, safety performance and financial outcomes as well as expansion via acquisition at a low point in the cycle For personal use only Consolidated Consolidated Zero Lost Time Revenue exceeds EBITDA exceeds Injuries Recorded $100m $40m O
Slide 5: Bathurst Financial Results
Bathurst Financial Results Results in line with guidance released and reflects a strong business For personal use only Financial Metrics 31 Dec 17 31 Dec 16 Change $m $m $m Consolidated Revenue attributable to BRL 100.6 21.5 79.1 Consolidated EBITDA attributable to BRL 40.4 5.2 35.2 Operating Profit
Slide 6: Operations
For personal use only Operations
Slide 7: Leading Presence in New Zealand
Leading Presence in New Zealand Bathurst has established itself as the pre-eminent coal producer in New Zealand For personal use only Maramarua Auckland Rotowaro Stockton Buller Westport Wellington Canterbury Christchurch Takitimu Invercargill 1 65% BRL ownership of the Rotowaro, Maramarua, and Stoc
Slide 8: Stockton (65% BRL)
Stockton (65% BRL1) Stockton is an open cut mine located on the West Coast of New Zealand producing a low- ash metallurgical coal for export For personal use only Customer Base Stockton Production (FY18) 1.0 mt Unit Cost (FOB) NZ$95/t FTE 209 Crown Rehab. Indemnity NZ$44.5m Resource 69.2 mt Volume P
Slide 9: North Island Domestic (65% BRL)
North Island Domestic (65% BRL1) Open cut mines located in the Waikato region of New Zealand producing a high-quality, low-ash coal for the local steel market For personal use only Rotowaro Production (FY18) 700 kt Margin NZ$30/t FTE 123 Crown Indemnity NZ$15.3m Resource 9.7 Mt Reserve 2.0 Mt Marama
Slide 10: South Island Domestic (100% BRL)
South Island Domestic (100% BRL) Open cut mines located in the Canterbury and Southland regions of New Zealand producing a high-quality, low-ash coal for the domestic market For personal use only Takitimu Production (FY18) 225 kt Margin NZ$30/t1 FTE 45 Resource 5.3 Mt Reserve 1.8 Mt Canterbury Produ
Slide 11: Sales Profile
Sales Profile Significant footprint in New Zealand Coal For personal use only SALES PROFILE BY MARKET SALES PROFILE BY REGION 1 Export Domestic 1.0 mtpa 1.2 mtpa South Island Domestic 0.4 mtpa Export - SALES PROFILE BY PRODUCT USE Stockton Electricity 1.0 mtpa 0.2 mtpa North Island Domestic Food 0.8
Slide 12: FY18 Bathurst Updated Metrics
FY18 Bathurst Updated Metrics The following are the forecast metrics for the Bathurst assets based on the FY18 operating plans For personal use only Stockton North Island South Island BRL Domestic Domestic Equity Production 0.9mt Product2 850kt Product 400kt Product 1.6mt Product Cash cost (av) $NZ9
Slide 13: Consolidated EBITDA Guidance Update
Consolidated EBITDA Guidance Update The graph depicts the forecast EBITDA for Bathurst by quarter. For personal use only FY18 EBITDA forecast has been upgraded to NZ$90m. Quarterly EBITDA $35,000 $30,000 Q4 assumes HCC price of USD180/tonne $25,000 (NZD'000) $20,000 $15,000 September only $10,000 $5
Slide 14: Future Growth Areas
For personal use only Future Growth Areas
Slide 15: Buller Project
Buller Project The combination of the BT Mining assets with Bathurst’s existing Buller Plateau assets will unlock material synergies for the Company For personal use only Item With Without Synergies Synergies CHPP nil $100m Access to Rail $6m $50m Rail loadout nil $25m Water $3m $3m treatment Worksh
Slide 16: Buller Project timetable
Buller Project timetable A short development cycle1 at low capital cost to bring on stream For personal use only 6 • Increase Resource definition – large diameter washability holes months Evaluation • Complete Feasibility Study 36 • Transport route months • Mining Areas Consenting 36 • Initial Boxcu
Slide 17: Conceptual Development Plan - Denniston
Conceptual Development Plan - Denniston For personal use only 17
Slide 18: Conceptual Development Plan - Marshalls
Conceptual Development Plan - Marshalls A natural southern extension of the Cypress area of Stockton For personal use only Development of an open cut pit within the Upper Waimangaroa Permit. Resource can be integrated into the current Stockton market plan. Key component for a Deep Creek blend and sh
Slide 19: Conceptual Development Plan – Deep Creek
Conceptual Development Plan – Deep Creek This area is a blend of BT Mining and Bathurst held resources with access back to For personal use only Stockton infrastructure Development of an open cut pit within the Upper Waimangaroa Permit and incorporating comparable coal within the BRL Buller explorat
Slide 20: Route to Market
Route to Market Ties all the assets together to establish a long term project pipeline For personal use only 20
Slide 21: Bathurst Resources Capital Structure
Bathurst Resources Capital Structure Issued Ordinary Shares 1,513,164,577 For personal use only Potential Ordinary Shares Face Value # of notes Maturity/ Coupon Per note # potential vesting date conversion # ordinary shares shares Convertible Notes $4.0m NZD 3,483 22 July 2019 8% 45,455 158,318,182
Slide 22: Competent Person Statements
Competent Person Statements Bathurst Resources Competent Person Statement • The information on this report that relates to mineral resources for Deep Creek and the mineral reserves for Escarpment Export, Stockton and Whareatea West is based on For personal use only information compiled by Sue Bonham