Boab Metals Ltd · ASX:BML
Boab Metals — Investor Presentation (December 2023)
24 slides from Boab Metals's investor presentation, Dec 19, 2023
Slide 1: Advancing the Sorby Hills Lead-Silver Project Toward a Final Investment Decision
Advancing the Sorby Hills Lead-Silver Project Toward a Final Investment Decision Corporate Presentation - 19 December 2023
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Compliance Statement Certain statements in the presentation are or may be “forward-looking statements” and The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore represent the Company’s intentions, projections, expectations or beli
Slide 3: Corporate Summary
Boab Metals Corporate Summary Share Price History 7.50 0.750 Capital Structure (18 December 2023) 6.25 0.625 Share Price Debt BML Share Price (A$/share) A$0.18 / share Nil Volume (millions) 5.00 0.500 Shares on Issue Cash 3.75 0.375 174 million shares A$3.0 million (30 September 2023) 2.50 0.250 Mar
Slide 4: High Quality Resource Estimate
Sorby Hills Project High Quality Resource Estimate Grade Contained Metal Tonnes Deposit Pb Zn Ag PbEq1 Pb Zn Ag (Mt) % % g/t % kt kt koz A 0.6 5.3% 0.1% 23 6.1% 31 6 427 B 2.7 3.6% 0.3% 20 4.3% 97 8 1,720 Omega 17.2 3.3% 0.4% 34 4.5% 566 71 18,948 Norton 21.1 2.8% 0.4% 34 4.0% 590 96 24,090 Alpha 1.
Slide 5: A near term Lead-Silver producer
Sorby Hills Project A near term Lead-Silver producer Project Highlights • Located 50km northeast of Kununurra in the East Kimberley Region of Western Australia • High quality Mineral Resource with significant near mine upside • Potential New Discovery 2km away from existing Reserves • 150km by exist
Slide 6: Low Risk Open Pit Ore Reserve
Sorby Hills Project Low Risk Open Pit Ore Reserve DFS Production Target Total Waste ROM Pb Ag PbEq Strip Pit (Mt) (Mt) (Mt) (%) (g/t) (%) Ratio Pit A 4.1 3.7 0.5 3.7 16.4 4.3% 8.1 Pit B 14.8 12.6 2.3 3.2 17.4 3.8% 5.5 Omega South 21.1 18.3 2.8 2.9 29.5 3.9% 6.5 Omega Main 57.7 50.3 7.4 3.6 38.7 5.0%
Slide 7: Definitive Feasibility Study
Sorby Hills Project Definitive Feasibility Study DFS Highlights Lead A$245m pre- C1 cash cost 543 thousand payable tonnes production Capex A$1,790 Million Revenue US$0.39/lb payable Pb underpinned 75% Incl. net Silver credit of by tendered pricing US$0.38/lb payable Pb Average Annual Production 2.25
Slide 8: Development Ready
Sorby Hills Project Development Ready ▪ GRES has recently completed FEED Primary Crusher Workstreams ▪ FEED output has resulted in: ▪ detailed plant design; Flotation Circuit ▪ optimised site layout; ▪ the issue of tender packages for long-lead items; and Filter Press SAG Mill Ball Mill ▪ updated EP
Slide 9: Confirmed Low-Cost producer
Sorby Hills Project Confirmed Low-Cost producer Independently confirmed as a 1st Quartile Project on the Global Lead cost curve ▪ Forecast Project ex works 2027 Lead Cost Curve (ex-works basis) Operating Costs covered by 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile a historically non-volatile
Slide 10: Lead Demand
Sorby Hills Project Supplying the proven Battery Metal Lead demand growth underpinned by mature and emerging vehicle technologies 1. www.batteryinnovation.org/resources/lead-battery-market-data/ “…. low voltage 12V lead- Forecast Light Vehicles Sales versus Lead Demand1 based batteries will continue
Slide 11: Significant Intercepts post Mineral Resource Estimate 2021
Sorby Hills Project Significant Intercepts post Mineral Resource Estimate 2021 Phase V – 15 holes not yet included in Mineral Resource Estimate ▪ SHRC_123 (Beta): 27m @ 3.47% Pb & 37g/t Ag from 34m: ▪ Incl. 3m @ 7.04% Pb & 95g/t Ag from 35m; 5m @ 5.60% Pb & 44g/t Ag from 45m; and 6m @ 4.50% Pb & 49g
Slide 12: Keep Seismic Target
Sorby Hills Project Keep Seismic Target Keep Seismic Target ▪ 1st drill hole indicates potential for a new discovery (2 km south of Potential Discovery located 2km from the existing Sorby Hills Reserves). existing Sorby Hills Deposits ▪ New Zone located within favourable structural and stratigraphic
Slide 13: Strategic Growth Opportunities
Sorby Hills Project Strategic Growth Opportunities Manbarrum Zn-Pb-Ag Project Vision to establish a long-life presence in the east ▪ located 25km east of the Sorby Hills Project. Kimberley Region ▪ Mineral Resources declared at two prospects Figure: which are zinc and silver dominated. Location of t
Slide 14: Delivering Silver Exposure to Investors
Sorby Hills Project Delivering Silver Exposure to Investors The Sorby Hills Project and Boab Metals offer rare ASX exposure to Silver Price movements ▪ Boab’s share price has BML Share Price vs AUD Silver Price historically demonstrated a strong correlation with the 7.50 0.750 A$ price of Silver. 6.
Slide 15: Investment Opportunity
Boal Metals Investment Opportunity Near Term News Flow and Ongoing Activities ▪ Complete ongoing Optimisation Workstreams and Progress The past 12 Months Project Approvals. • Updated Tailings Strategy to reduce execution risk and improve project cashflows. 22% - DFS vs PFS NPV • Metallurgical Testwo
Slide 16: Thank You
Thank You Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals
Slide 17: Board and Technical Team
Board and Technical Team Gary Comb Simon Noon Richard Monti Andrew Parker Chairman Managing Director Non-Exec. Director Non-Exec. Director and CEO Board and Management Engineer with over 30 Experienced mining Geologist with over 30 Lawyer with significant with a proven track years’ experience in the
Slide 18: Definitive Feasibility Study
Sorby Hills Definitive Feasibility Study Capital Cost Breakdown Tendered Pricing for 75% of Item Pre-production (A$M) Sustaining (A$M) Total (A$M) Capital Costs to reduce the Early Works / Bulk Earthworks / Road Construction 9.9 15.7 25.6 risk of pre-FID cost escalation. Process Plant and Non-Plant
Slide 19: Appendix
Appendix Appendix Boab Metals Limited ASX:BML 19
Slide 20: Definitive Feasibility Study
Sorby Hills Definitive Feasibility Study Life of Mine Physicals PHYSICALS SUMMARY Unit Total FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 ROM Mined Mt 18.3 - - 2.1 2.1 2.3 2.5 1.9 2.2 1.8 3.3 - - Waste Mined Mt 134.6 - - 11.7 11.6 12.2 24.3 26.1 25.6 19.6 3.5 - - % Measured % 56.7% -
Slide 21: Definitive Feasibility Study
Sorby Hills Definitive Feasibility Study Operating Cost Breakdown Competitive C1 cash cost of US$0.39/lb Total Unit Costs Item payable Pb (including Silver Credits). (A$M) A$/t ore US$/lb payable Pb Mining 591 32.4 0.34 ~80% of Mining Costs underpinned by Processing 391 21.4 0.22 tendered pricing wi
Slide 22: Resource Classification by Deposit
Sorby Hills Project Resource Classification by Deposit Grade Contained Metal Tonnes Deposit Classification Pb Zn Ag PbEq1 Pb Zn Ag (Mt) % % g/t % kt kt koz Inferred 0.6 5.3% 1.0% 23 6.1% 31 6 427 A Sub Total 0.6 5.3% 0.1% 23 6.1% 31 6 427 Measured 1.4 3.8% 0.3% 19 4.5% 52 4 859 B Indicated 1.3 3.4%
Slide 23: Establishing Deep Roots within the Local Community
Boab Metals Establishing Deep Roots within the Local Community Boab is extremely proud to be the Naming Rights Sponsor of the Ord Valley Muster for 2023 and beyond. • Sense of community plays a key role in economic and social well-being of stakeholders across the east Kimberley Region. • The Ord Val
Slide 24: Metal Equivalent Calculations
Metal Equivalent Calculations The contained metal equivalence formula It is Boab’s opinion that all elements included in the metal equivalent calculation have a reasonable is based on the Sorby Hills DFS including: potential to be recovered and sold. The formula used to calculate lead equivalent gra