Slide 1: Pilbara Focused Manganese Developer & Explorer
For personal use only Pilbara Focused Manganese Developer & Explorer July 2024 ASX:BCA Scoping Study Results Presentation blackcanyon.com.au
Slide 2: Disclaimer & Forward-Looking Statements
Disclaimer & Forward-Looking Statements The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. The opinions and recommendations in this presentation are not intended to represen
Slide 3: Manganese Developer and Explorer
Manganese Developer and Explorer For personal use only Substantial Global MRE totaling Traditional manganese Scoping Study at the KR1 314 Mt @ 10.5% Mn containing concentrate for the Mn and KR2 deposits 33.1 Mt Mn. alloying industry. Essential for alloys used in the demonstrate positive results stee
Slide 4: Corporate Overview
Corporate Overview ASX:BCA Graham Ascough $5.5m $1.2m $4.3m Non-Executive Chairman Geophysicist Market Cap Cash Enterprise Value Mr Ascough is a resources executive and geophysicist with more than For personal use only (as at 01/07/2024) (End of March Quarter) 30 years’ experience. He is presently N
Slide 5: Black Canyon a Manganese focused Growth Story
Black Canyon a Manganese focused Growth Story For personal use only 2021 2022 2023 2024 Exploration Target 160–215 Mt @ 11–12% Mn Flanagan Bore MRE Battery Grade HPMSM BCA IPO Mid 2021 Manganese concentrate grades 104 Mt @ 10.5% Mn Achieved between 30 and 33% Mn Scoping Study confirms KR1 & KR2 Posi
Slide 6: Black Canyon in the Australian Manganese Context
Black Canyon in the Australian Manganese Context Largest manganese Mineral Resources Estimate in Western For personal use only Australia and second largest in Australia. All discovered by Black Canyon in the past 2 years. Three drill programs completed for 569 holes for 20,064m. Tonnes Grade M
Slide 7: Asset Overview – 2,100km2 of Granted Licenses
Asset Overview – 2,100km2 of Granted Licenses High Grade (52.9% Mn) Rock Chip samples from Wandanya (BCA 100%) Wandanya Outcrop (BCA 100%) For personal use only KR1 Target - E46/1383 (BCA 100%) KR1 Outcrop (BCA 100%) INVESTOR PRESENTATION BCA ASX Announcement 05/07/2023 High-grade Manganese Rock Chi
Slide 8: Looking South – KR1 Deposit
For personal use only Looking South KR1 Deposit (BCA 100%) 8 INVESTOR PRESENTATION
Slide 9: KR1 and KR2 Scoping Study Results
KR1 and KR2 Scoping Study Results Financial Performance Summary Unit LOM Initial LOM (years) 16 Total LOM Revenue (A$ M, real) 2,781 For personal use only Total LOM EBITDA (A$ M, real) 654 NPV @ 8% - before tax (A$ M, real) 340 IRR - before tax (%, real) 70 Project Capital Expenditure (A$ M, real) 8
Slide 10: KR1 and KR2 Scoping Study Results – CAPEX and OPEX
KR1 and KR2 Scoping Study Results CAPEX LOM OPEX/t (CIF) Cost A$/t A$/t Mn Item Description CA Operating Cost C1 $US/DMTU (A$M) LOM CONC Process Plant Mine to ROM Haulage 5.21 20.45 0.42 For personal use only Crushing 5.9 Milling Costs 5.82 22.87 0.46 Processing 34.4 Grade Control and rehandle 1.5 5
Slide 11: KR1 and KR2 Scoping Study Results – Operating Cashflow
KR1 and KR2 Scoping Study Results Operating Cashflow Average Annual Cashflow = $A46m Higher cashflows are anticipated in years 1 – 3 due to very low strip ratios from the KR1 starter pit that also For personal use only coincides with higher ore feed grades in the upper portion of the deposit. Si
Slide 12: KR1 and KR2 Scoping Study Results – Enhancements and Funding
KR1 and KR2 Scoping Study Results Project Enhancements Project Funding ($84m CAPEX) For personal use only Additional development of higher-grade, low-strip-ratio BCA Funding is expected to come from traditional equity and controlled resources within a 20-30km radius debt instruments, including c
Slide 13: Beneficiation Metallurgical Testwork
Beneficiation Metallurgical Testwork Crushing and washing testwork Significant manganese grade uplifts from feed grades of 11% and 15% Mn upgraded to approximately 23% and 24% Mn through Simplified Flowsheet For personal use only scrubbing and washing – an important first step for beneficiation. P
Slide 14: Schematic Beneficiation Process Summary
Schematic Beneficiation Process Summary For personal use only PQ Core - 11.5% Mn INVESTOR PRESENTATION Crushed Dense Media Separation (DMS) – Upgrade to 32% Mn Wash/Scrub – upgrade to 23% Mn BCA ASX Announcement 08/02/2022 Thick Manganese Intersections from Drilling at Flanagan Bore, 21/02/2022 Furt
Slide 15: KR1 & KR2 Potential Development Schedule
KR1 & KR2 Potential Development Schedule 2024 CY 2025 CY 2026 CY Activity For personal use only Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Scoping Study Results Mining License Grant Stakeholder Engagment Environmental Baseline Studies Environmental Approvals Metallurgical Testwork Feasibility Study Offtake Agree
Slide 16: 2024 Work Streams
2024 Work Streams • Offtake agreements with smelters or metal traders • Manganese Ore supply For personal use only • HPMSM processing facility location • Completed Scoping Study at KR1 & KR2 shocks & key criteria • USA: importance of the IRA and • Examine Scale the FTA • KR1 & KR2 Scoping Study • Fe
Slide 17: BCA Investment Summary
BCA Investment Summary Delivering results – Multiple discoveries, MRE upgrades, positive Scoping Study, ML applications, commencement of environmental For personal use only studies and further feasibility studies planned. Manganese is essential to the steel industry and a critical battery mineral, w
Slide 18: Contact
For personal use only Contact Brendan Cummins Managing Director 0400 799 756 brendan.cummins@blackcanyon.com.au ASX:BCA blackcanyon.com.au
Slide 19: Manganese Fundamentals
Manganese Fundamentals World Manganese Production (2022 USGS) Moving in the right direction South Africa Gabon Australia China Analysts expected the Mn ore price to move positively in 2024 Ghana India For personal use only Ukraine (concentrate) Brazil Groote Eylandt operations suspension removed
Slide 20: Manganese (Mn)
Manganese (Mn) Essential for steel and critical for EV Li-ion batteries Fourth most consumed metal by tonnage with 60Mt For personal use only tonnes of ore mined globally on an annual basis. Approx. 90% is used in steel Baseload demand from manufacturing, Mn alloys China with the emergence added to
Slide 21: Flanagan Bore Scoping Study Results (Aug 2022)
Flanagan Bore Scoping Study Results (Aug 2022) Key Financial and Project Metrics For personal use only NPV8 (before tax, real) A$134 million IRR (before tax) 67% Production Targets (LOM) 36.1Mt @ 11.7% Mn Initial Mine Life @ 1.8Mtpa 20 Years Annual Mn concentrate production 500kt Project Capital Exp
Slide 22: Balfour Manganese Field Mineral Resources
Balfour Manganese Field Mineral Resources Black Canyon controls the largest contained Manganese deposits in WA – 33.1Mt of contained Mn For personal use only MREs with strong geological and grade continuity demonstrated along and across strike – some remain open. Large scale mineralised system pre
Slide 23: Balfour Manganese Field - KR1 and KR2 Mineral Resources
Balfour Manganese Field - KR1 and KR2 Mineral Resources Discovered in March, drilled in July, maiden MRE November 2023 For personal use only Strong geological and grade continuity demonstrated along and across strike – some remain open. Large km scale mineralised system presents multiple developme
Slide 24: KR1 & KR2 Deposits (BCA 100%)
KR1 & KR2 Deposits (BCA 100%) KR1 MRE 79 Mt @ 10.0% Mn for 7.8 Mt of contained Mn KR2 MRE 24 Mt @ 11.9% Mn for 2.9 Mt of contained Mn For personal use only INVESTOR PRESENTATION BCA ASX Announcement 27/11/2023 Substantial Maiden Mineral Resource Estimate at KR1 and KR2 Exceeds 100 Mt 24
Slide 25: KR1 & KR2 Deposits (BCA 100%)
KR1 & KR2 Deposits (BCA 100%) KR1 Mineral Resource model and coloured by Mn grade (%) KR2 Mineral Resource model and coloured by Mn grade (%) For personal use only INVESTOR PRESENTATION KR1 Section 7,475,100mN KR2 Section 7,472,200mN BCA ASX Announcement 27/11/2023 Substantial Maiden Mineral Resourc
Slide 26: Australian Mn Resources
Australian Mn Resources Deposit Company Tonnes (Mt) Grade Mn (%) Contained Mn (Mt) Groote Eylandt South 32 127 43.6 55.4 Balfour Mn Field Black Canyon 314 10.5 33.0 For personal use only Butcher Bird Element 25 263 9.9 26.1 Oakover Firebird Metals 176.6 9.9 17.4 Woodie Woodie Consolidated Minerals 4