Metals X Limited · ASX:MLX

Metals X — Investor Presentation (April 2014)

20 slides from Metals X's investor presentation, Apr 28, 2014

  1. Slide 1: An Emerging Diversified Miner

    ASX: MLX OTCQX: MTXXY GR: FG5 For personal use only AN EMERGING DIVERSIFIED MINER TOP 10 AUSTRALIAN GOLD PRODUCER AUSTRALIA’S LARGEST TIN PRODUCER DEVELOPMENT & GROWTH PROJECTS STRONG FISCAL POSITION

  2. Slide 2: Corporate Structure

    CORPORATE STRUCTURE Market ASX For personal use only Share Code: ASX MLX 6-month Aust Gold Index OTCQX MTXXY GR FG5 Share Price $0.20 Shares on Issue 1,655M Market Capitalisation $330M Net Cash (and WC) $75M Enterprise Value ~$255M 6-month Mining & Metals index Liquidity ~ 3M per day Major Sharehold

  3. Slide 3: An Emerging Diversified Miner

    AN EMERGING DIVERSIFIED MINER Diversified For personal use only Base Metals Precious Metals - Gold Renison 153 Kt Sn Higginsville (HGO) 1.55Moz Au 40 Kt Cu South Kal (SKO) 5.69Moz Au Wingellina/Claude Hills 2,067 Kt Ni 161 Kt Co Central Murchison 5.01Moz Au 99 Mt Fe2O3 Rover 1 – IOCG 0.38Moz Au Rove

  4. Slide 4: Precious Metals Gold Projects

    PRECIOUS METALS GOLD 4 Gold Projects For personal use only 1. Higginsville Gold Operations – in production (ex. Alacer Gold). 2. South Kalgoorlie Operations – in production (ex. Alacer Gold). 3. Central Murchison Gold Project – completed DFS. 4. Rover 1 Gold Project – pre-feasibility stage. …….Excit

  5. Slide 5: Higginsville Gold Operations

    PRECIOUS METALS HIGGINSVILLE GOLD OPERATIONS Higginsville Gold Operations (“HGO”)- For personal use only mainly underground operation (Trident & Chalice), 1.3Mtpa CIP Plant, 1.5Moz Resource, producing at circa 150,000ozpa. Mar 2014 Qtr Dec 2013 Qtr Gold Produced 45,141 oz 42,442 oz Total Cost of Sal

  6. Slide 6: South Kalgoorlie Operations

    PRECIOUS METALS SOUTH KALGOORLIE OPERATIONS South Kalgoorlie Operations (“SKO”) is an open pit For personal use only & potential underground operation. 1.2Mtpa Plant – toll processing and owner processing. 5.7Moz resource base in multiple known ore sources. Mar 2014 Qtr Dec 2013 Qtr Gold Produced 3,

  7. Slide 7: Central Murchison Gold Project

    PRECIOUS METALS CENTRAL MURCHISON GOLD PROJECT DEVELOPMENT READY 100,000 OZ PA PROJECT For personal use only Total Mineral Resource Initial Ore Reserve 61.6Mt @ 2.52g/t 4.96Moz 15.5Mt @ 2.36g/t 1.2Moz Big Bell DFS Results (2012): • NPV8 A$142M. • Average Life of Mine cash operating costs of A$980 pe

  8. Slide 8: Rover – IOCG (Tennant Creek)

    PRECIOUS METALS ROVER 1 – IOCG (TENNANT CREEK) Total Mineral Resource 1.2Moz Gold Eq.: 6.8Mt @ 5.6 g/t Au. Eq. (1.73 g/t Au, 2.07 g/t Ag, 1.21% Cu, 0.14% Bi, 0.05% Co) For personal use only Bonanza Gold intercepts 15.75m @ 29.4g/t Au High Grade Copper 21m @ 6.9% Cu, 0.9g/t Au Virgin Discovery at Fea

  9. Slide 9: Building a Significant Gold Producer

    PRECIOUS METALS BUILDING A SIGNIFICANT GOLD PRODUCER For personal use only 350,000 oz per annum + ROVER 1 350,000 + CMGP 300,000 250,000 HGO SKO 200,000 Ounces Produced 150,000 100,000 50,000 0 2014 2015 2016 2017 2018 Rover*(planned) 0 0 20000 40000 60000 CMCP (planned) 0 80000 100000 100000 100000

  10. Slide 10: Tin: Australia's Only Significant Tin Producer

    BASE METALS - TIN AUSTRALIA’S ONLY SIGNIFICANT TIN PRODUCER For personal use only b l i c l y w o rld pu tern - l y w es t h e on r f n o t d u c e f e w,i t i n p ro e v e ry l i s ted of t h One 10

  11. Slide 11: Tasmanian Tin Project (50% MLX)

    BASE METALS - TIN TASMANIAN TIN PROJECT (50% MLX) For personal use only Renison Project (100%) • Production from 1968: 23Mt @ 1.4% Sn (225Kt recovered). • Reserves 5.51Mt @ 1.38% Sn (75.8Kt). • Resources 11.5Mt @ 1.65% Sn (190Kt). • 2014: 7 - 7,500tpa Sn @ A$17,000 est. C2 MLX Share (50%) • EBITDA ~

  12. Slide 12: Tasmanian Tin Project (MLX 50%)

    BASE METALS - TIN TASMANIAN TIN PROJECT (MLX 50%) 2.5( For personal use only ZĞŶŝƐŽŶĞůů,ŝƐƚŽƌŝĐнƵƌƌĞŶƚZĞƐŽƵƌĐĞ 2( Grade&(%&Sn)& 1.5( Outback( Collingwood( Stellar( 1( Kasbah( 0.5( Bischoff( Torian( Rentails( YTC Consolidated(Tin( Monto( Paradigm( Toronga( Venture( 0( 0( 10( 20( 30( 40( 50( 60( Millio

  13. Slide 13: Renison Expansion Project (Rentails)

    BASE METALS - TIN RENISON EXPANSION PROJECT (RENTAILS) For personal use only Proposed New Fumer Plant Existing Renison Mine Infrastructure • A tailings re-treatment project applying new and • Project EBITDA MLX $60Mpa at A$25,000/t. proven technology – DFS completed. – Cash Costs: $12,000-$14,000 /t

  14. Slide 14: Central Musgrave Project

    BASE METALS – NICKEL, COBALT, IRON CENTRAL MUSGRAVE PROJECT • A major land holding across the NT/WA/SA borders highly prospective for oxide & sulphide nickel, copper and platenoids. For personal use only • A mining agreement covering 18,000km2 for project development & infrastructure. • The world cl

  15. Slide 15: Wingellina Nickel Project DFS

    BASE METALS – NICKEL, COBALT, IRON WINGELLINA NICKEL PROJECT DFS Ore Reserves 167.5M tonnes @ 1% Ni, 0.08% Co For personal use only Annual Metal Production 40,000 tonnes Ni, 3,000 tonnes Co Mine Life 40+ Years Metal Price Assumptions Ni US$20,000/t, Co US$45,000/t Exchange Rate Assumption AUD 0.85 P

  16. Slide 16: Lead, Zinc, Silver: Explorer 108

    BASE METALS – LEAD, ZINC, SILVER EXPLORER 108 Virgin Pb-Zn-Ag discovery. For personal use only Coarse grained argentiferous galena (Pb + Ag) and sphalerite (Zn). Good metallurgical properties - high flotation recoveries. Ore system open in all directions. Initial Resource at 2.5% cut-off 11.87 Milli

  17. Slide 17: Market Peer Comparisons

    MARKET PEER COMPARISONS Peer Comparison Average EV/EBITDA FY14/CY13 Peer Comparison Average EV/Resource oz 0.400 $0.90 For personal use only 0.350 $0.80 0.300 $0.70 $0.60 0.250 $0.50 0.200 $0.40 0.150 $0.30 0.100 $0.20 0.050 $0.10 0.000 $0.00 Metals X Simple Average Weighted average Metals X Simple

  18. Slide 18: Metals X Limited - Scorecard

    METALS X LIMITED - SCORECARD • Diversified – exposure shared across precious and base metals. For personal use only • Precious Metals - Gold: • 2 Operations Producing Gold. • 2 Growth Assets – Ready for Development. • Base Metals: • Tin Production and Growth (Unique) • Development Ready Wingellina N

  19. Slide 19: Disclaimer

    DISCLAIMER General Disclaimer This presentation has been prepared by Metals X Limited (“Metals X” or the “Company”). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Company. This presentation contains forecasts and forward

  20. Slide 20: Thank you!!

    ASX: MLX OTCQX: MTXXY GR: FG5 For personal use only AN EMERGING DIVERSIFIED MINER Thank you!!

Metals X — Investor Presentation (April 2014) on 6ix