Jupiter Mines Limited · ASX:JMS
Jupiter Mines — Macquarie WA Forum 2022
26 slides from Jupiter Mines's conference presentation, Nov 30, 2022
Slide 1: Macquarie WA Forum
For personal use only 1 Macquarie WA Forum 30 November 2022 JUPITER MINES LTD | jupitermines.com
Slide 2: Disclaimer
Macquarie WA Forum | Disclaimer 2 Disclaimer For personal use only This presentation is provided for information purposes only. The information in management's current expectations and beliefs and are subject to a number this presentation is in a summary form, does not propose to be complete and of
Slide 3: Overview
Macquarie WA Forum | Overview 3 Overview For personal use only 1 Jupiter is the largest manganese focussed miner on the ASX, through its Introduction Pages 4 - 6 49.9% ownership of Tshipi Borwa, one of the world’s premier Mn mines 2 The market outlook for manganese is constructive for growth Mangane
Slide 4: Introduction
Macquarie WA Forum | Introduction 4 Largest manganese miner on the ASX, with 49.9% ownership of the Tshipi Borwa mine For personal use only Ian Murray, Chairman Peter North, NED Share Price Market Cap ex Gold Road MD Safika Resources Co-founder Board of Directors $0.19 $372m Brad Rogers, MD Patrick
Slide 5: Tshipi is one of the world's premier manganese mines
For personal use only Macquarie WA Forum | Introduction 5 Tshipi is one of the world’s premier manganese mines… • World Class Scale: 4th largest manganese mine in the world • Sustainably Profitable: Low cost producer. Positive cash generation through the cycle • Longevity: 100+ years of mine life at
Slide 6: Aerial Overview of Tshipi and Neighbouring Mines
Macquarie WA Forum | Introduction 6 Aerial Overview of Tshipi and Neighbouring Mines For personal use only
Slide 7: Manganese has multiple uses and is produced in 19 countries
Macquarie WA Forum | Manganese Market 7 Manganese has multiple uses and is produced in 19 different countries globally. South Africa is the largest producer (with 32% of global supply). For personal use only Demand Supply • Manganese has long been classified as a critical element • 19 countries prod
Slide 8: Manganese ores are processed into downstream industrial products
Macquarie WA Forum | Manganese Market 8 Manganese ores are processed into downstream industrial products, which are then used in various industrial manufacturing end market applications For personal use only Demand Share % Mining Processing End Markets Benefits of Mn 2021 2040 CAGR (Act) (Est) Blast
Slide 9: Metallurgical use steady growth; EV battery demand explosive
Macquarie WA Forum | Manganese Market 9 Metallurgical use of manganese will see steady (population level) growth over the next 20 years. EV battery use will see explosive new demand growth… For personal use only % of Mn Demand 20 Year Growth Product & Margin/Volume Market Opportunity for JMS Today O
Slide 10: Very high growth in EV battery production
Macquarie WA Forum | Manganese Market 10 …driven by very high growth in EV battery production, combined with a coming market preference for EV batteries that contain manganese. For personal use only Very High Growth Forecast in EV Battery Production With Manganese Battery Types Set to Dominate Manga
Slide 11: Tshipi is a low risk operation, leading in safety and responsibility
Macquarie WA Forum | Investment Highlights 11 Tshipi is a low risk operation, leading in safety and responsibility For personal use only 1,025 Safe & Reliable TRIFR (Most Recently Reported) Environmental Focus EMPLOYEES 5.00 1 4.50 4.30 4 World Class Safety Performance Best in Class Environmental Ou
Slide 12: Outstanding production and efficiency track record
Macquarie WA Forum | Investment Highlights 12 Tshipi has an outstanding production and efficiency track record… For personal use only Tshipi Production (LHS) & Cash Costs (RHS) 4.0 $2.30 Mined Ore (Mtpa) Mining Cost ($US/dmtu) 3.5 Production , $2.20 3.0 3.7 $2.10 2.5 2.0 $2.00 1.5 $1.90 Cash Cost, 1
Slide 13: One of the largest, lowest cost mines
Macquarie WA Forum | Investment Highlights 13 …placing it as one of the largest, lowest cost and... For personal use only Top 30 Manganese Mines (2021 Mn Ore Production, Mt) 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Sources: CRU Group
Slide 14: Longest life manganese mines in the world
Macquarie WA Forum | Investment Highlights 14 …longest life manganese mines in the world. For personal use only Mine Life (Years Remaining) of Selected Global Manganese Mines 140 Remaining Mine Life (Years) Tshipi, 121 120 100 Tshipi is one of the longest life manganese mines in the world, with 80 1
Slide 15: Significant positive cashflow through the cycle
Macquarie WA Forum | Investment Highlights 15 Tshipi has generated significant positive cashflow through the cycle… For personal use only EBITDA vs Mn Price (FOB, 37%) $700 $7.00 EBITDA ($Am) $5.83 $600 Mn Price (4 Yr $6.00 $500 Ave), $4.23 $5.00 $400 $4.18 $4.00 $300 $3.83 Mn Price, $3.00 1. Signif
Slide 16: 14% dividend yield since IPO
Macquarie WA Forum | Investment Highlights 16 …which has enabled Jupiter to pay a 14% dividend yield since IPO. For personal use only Jupiter Dividends vs % of current market cap Dividends Paid (A$m) $350 90% % of CUrrent Market Cap 82% $300 80% 70% $250 60% $200 50% $150 40% 30% $100 20% $50 10% 1.
Slide 17: Range of growth options
Macquarie WA Forum | Investment Highlights 17 Jupiter has a range of growth options, based on a supportive demand outlook* For personal use only Jupiter has a range of organic and inorganic opportunities to grow value. Major Mines in the KMF These options include M&A in the Kalahari Manganese Field
Slide 18: Share price at 4 year lows vs manganese price
Macquarie WA Forum | Investment Highlights 18 Jupiter’s share price is currently at 4 year lows, while the manganese price is 18% above 4 year low levels… For personal use only Jupiter Share Price since 2018 (Blue Line, LHS) vs Manganese Price (Gold Line, RHS) $0.45 $8.00 Mn Price - FOB PE US$/dmtu
Slide 19: Investment Highlights: Summary
Macquarie WA Forum | Investment Highlights 19 Investment Highlights: Summary For personal use only Tshipi is low risk & responsible… …reliable and efficient… …and has 100+ years of mine life remaining. Total Recordable Injury Frequency Rate Tshipi Production (LHS, Mt) and Mining Cost (RHS, US$/t) Mi
Slide 20: Appendices
For personal use only Macquarie WA Forum | Appendices 20 Appendices
Slide 21: Tshipi producing since 2012; Jupiter listed in 2018
Macquarie WA Forum | Appendices 21 Tshipi has been producing since 2012 and Jupiter listed in 2018 For personal use only Development Feasibility Studies First Shipment Jupiter IPO Commences Jupiter Milestones Tshipi Borwa Mine has been producing since December 2012 Jupiter Mines listed on the ASX on
Slide 22: Simple mining and processing flowsheet, exporting via 5 ports
Macquarie WA Forum | Appendices 22 Tshipi has a simple mining and processing flowsheet, exporting via 5 different ports For personal use only Mining Processing Stockpiling & TLO Transport to Ports Ports & Shipping Rail transport to various Lump & Fines Product ports Port Elizabeth (RSA) Open Cut Sto
Slide 23: Track record of stable production, cost and capital efficiency
Macquarie WA Forum | Appendices 23 Tshipi has a track record of stable production, cost and capital efficiency… For personal use only Tshipi Financial Performance (100%, note JMS = 49.9%) Impact of Shipping Cost - Tshipi (100%) Financial Year UoM 2019 2020 2021 2022 Financial Year UoM 2019 2020 2021
Slide 24: Production costs reducing since IPO
Macquarie WA Forum | Appendices 24 …with production costs reducing since IPO, notwithstanding currently elevated shipping costs. For personal use only Growth in Mining Production and Total Production Costs (since FY19) 1.10 1.05 Production Volume Index, • Overall, production costs have been well man
Slide 25: Strong dividend yield and conservative balance sheet
Macquarie WA Forum | Appendices 25 Jupiter has paid a strong dividend yield since IPO and has a conservative balance sheet. For personal use only Jupiter Financial Performance Jupiter: Dividends and Key Ratios Financial Year UoM 2019 2020 2021 2022 Financial Year UoM 2019 2020 2021 2022 Share of Tsh
Slide 26: For more information contact
For personal use only 26 For more information contact: investorrelations@jupitermines.com JUPITER MINES LTD | jupitermines.com