Boab Metals Ltd · ASX:BML
Boab Metals — Investor Presentation (August 2023)
31 slides from Boab Metals's investor presentation, Aug 7, 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 Diggers & Dealers 2023 Boab Metals Limited ASX:BML Boab Metals Limited ASX:BML 10/08/2022 1
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 Limited Corporate Summary Capital structure (4 August 2023) Share Price History Share Price Debt 4.0 0.40 A$0.21 / share Nil 3.5 0.35 Volume (million shares) Share Price (A$/share) 3.0 0.30 Shares on Issue Cash 2.5 0.25 174 million shares A$4.6million (30 June 2023) 2.0 0.20 1.5 0.15 Mar
Slide 4: Lead: The Proven Battery Metal
The Proven Battery Metal Pb Lead The primary component of the 12V batteries found in traditional and electric vehicles. • Demand growth underpinned by mature and emerging vehicle technologies. • Supported by rapid growth in utility and renewable energy storage1. 1. www.batteryinnovation.org/resource
Slide 5: Silver: The Most Conductive Metal on Earth
The Most Conductive Metal on Earth Ag Silver Ideal metal for use in solar cells and the electronic components of electric vehicles. • Silver‘s traditional role as a storer of wealth is complemented by its increasing industrial demand. • The use of Silver in solar cells has increased nearly 150% (8.3
Slide 6: Sorby Hills Project: A near-term producer of Lead and Silver
Sorby Hills Project A near-term producer of Lead and Silver • Located 50km northeast of Kununurra in the East Kimberley Region of Western Australia. • High quality Mineral Resource with significant near mine and greenfields exploration upside. • 150km by existing sealed roads to the Wyndham Port. •
Slide 7: DFS results support progress toward a Decision to Mine
Sorby Hills Project DFS results support progress toward a Decision to Mine A$245m pre- C1 cash cost Lead production Capex US$0.39/lb payable Pb 543 thousand payable tonnes underpinned 75% Incl. net Silver credit of A$1,790 Million Revenue by tendered pricing US$0.38/lb payable Pb Average Annual Prod
Slide 8: High Quality Mineral Resource Estimate
Sorby Hills Project High Quality Mineral Resource Estimate Tonnes Grade Contained Metal Classification Deposit 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
Slide 9: Production Target and Reserve Estimate
Sorby Hills Project Production Target and Reserve Estimate 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
Slide 10: Updated Tailings Strategy to enhance Metal Production
Sorby Hills Project Updated Tailings Strategy to enhance Metal Production 20,000,000 1,000,000 Cumulative Payable Lead / Silver The DFS tailings strategy incorporated 18,000,000 900,000 High grade Silver from the both above-ground tailings storage within 16,000,000 Norton deposit delivered earlier 8
Slide 11: Near-term opportunities to increase production target
Sorby Hills Project Near-term opportunities to increase production target A B C D C D B A Figure: Norton deposit cross Section showing the position of recently completed drill holes, intercepts and reinterpreted outline of the mineral resource envelopes Figure: Assay results from recent drill holes
Slide 12: Phase VII Drilling Program Complete
Sorby Hills Project Phase VII Drilling Program Complete Phase VII Drilling Program nearing completion. Exploration drill holes targeting extension to mineralisation adjacent to the proposed Norton open pit have shown encouraging results. Assay results targeted for late Q3 2023. Metallurgical drill h
Slide 13: Strategic Acquisitions: Eight Mile Creek
Boab Metals Limited Strategic Acquisitions Boab owns a 100% interest the Eight Mile Creek - Exploration Licence E80/5317 Key highlights include: ✓ Exploration Tenements ✓ Drilling has confirmed the covering 206 km2 of existence of a favourable relatively underexplored stratigraphic setting and tenur
Slide 14: Strategic Acquisitions: Manbarrum Project
Boab Metals Limited Strategic Acquisitions Boab has acquired a 100% interest in the Manbarrum Zinc-Lead-Silver Project Key highlights include: ✓ Manbarrum is strategically ✓ Mineral Resources declared located 25km east of the at two prospects within the Sorby Hills Lead-Silver Zinc Manbarrum project
Slide 15: Process Flow Sheet
Sorby Hills Project Process Flow Sheet ConventionalProcess Conventional ProcessPlant Plant Design supportedby supported byextensive extensive metallurgicaltestwork metallurgical testworkand andprocess process engineering. engineering. GREngineering GR EngineeringServices Services(“GRES”) (“GRES”) se
Slide 16: Front End Engineering & Design well underway
Sorby Hills Project Front End Engineering & Design well underway Primary Crusher GR Engineering Services (“GRES”) selected as preferred tenderer for Flotation Process Plant EPC. Circuit GRES completing Front End Engineering & Design Filter Press (“FEED”) in preparation for a SAG Mill Ball Mill targe
Slide 17: Local Accommodation Strategy
Sorby Hills Project Local Accommodation Strategy Heads of Agreement executed with the Shire of Wyndham and East Kimberley (“SWEK”) for the construction and long- term lease of a new accommodation Facility located in Kununurra. Key Indicative Terms: • Boab to fund pre-construction work in return for
Slide 18: Clean Power Solution
Sorby Hills Project Clean Power Solution Heads of Agreement executed with Horizon Power with respect to a future Power Purchase Agreement for Sorby Hills. Key Indicative Terms • Delivery of firm power over a 10-year term with a purchaser option to extend; and • Cleaner, cheaper electricity sourced f
Slide 19: Path to Market
Sorby Hills Project Path to Market Agreement for Access and Stevedoring Service executed with Cambridge Gulf with respect to Wyndham Port. Term extending to April 2034 with an automatic rollover on a 12-monthly basis. Wyndham Port is located 150km by existing sealed road from Sorby Hills. Wyndham Po
Slide 20: Progress towards a Final Investment Decision
Sorby Hills Project Progress towards a Final Investment Decision • Front End Engineering & Design (“FEED”) underway. • Independent Technical due diligence completed on the Mineral Resource and Metallurgical testwork program. • Mining Leases granted, EPA Approval in place. • Independent ESG status re
Slide 21: Joint Venture
Sorby Hills Joint Venture Boab (75% interest) Henan Yuguang Gold and Lead Co., Ltd (25% contributing interest) • Yuguang Gold and Lead Co., Ltd (“Yuguang”) is Asia’s largest electrolytic lead producer and China’s largest Silver producer.1 • Initially invested in Sorby Hills Joint Venture in 2010. •
Slide 22: Current focus and upcoming Milestones
Sorby Hills Project Current focus and upcoming Milestones • Complete process plant Front-End Engineering & Design together with GRES ahead of EPC contract award. • Retender Mining and Bulk Earthworks contracts to refine pricing with respective updated mining schedule and optimised site layout. • Wor
Slide 23: Establishing Deep Roots within the Community
Boab Metals Limited Establishing Deep Roots within the Community and supporting better outcomes 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 eas
Slide 24: Board and Management
Board and Management 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 exe
Slide 25: Thank You
Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals Thank You
Slide 26: Appendix
Appendix Boab Metals Limited ASX:BML 10/08/2022 26
Slide 27: Definitive Feasibility Study Capital Costs
Sorby Hills Definitive Feasibility Study Capital Costs Pre-production Sustaining Total Tendered Pricing for 75% of Item (A$M) (A$M) (A$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 Infrastru
Slide 28: Definitive Feasibility Study Operating Costs
Sorby Hills Definitive Feasibility Study Operating Costs Total Unit Costs Competitive C1 cash cost of US$0.39/lb Item (A$M) A$/t ore US$/lb payable Pb payable Pb (including Silver Credits). Mining 591 32.4 0.34 Processing 391 21.4 0.22 ~80% of Mining Costs underpinned by G&A 88 4.8 0.05 tendered pri
Slide 29: Definitive Feasibility Study Life of Mine Physicals
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 30: Definitive Feasibility Study Life of Mine Cash Flows
Sorby Hills Definitive Feasibility Study Life of Mine Cash Flows FINANCIAL SUMMARY Unit Total FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 Lead Revenue A$M 1,789.7 - - 177.1 223.9 227.2 187.0 206.2 221.5 205.6 248.7 92.4 - Silver Revenue A$M 691.7 - - 49.1 73.4 87.3 57.2 86.7 86.7 122
Slide 31: Metal Equivalent calculation
Metal Equivalent It is Boab’s opinion that all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold. The formula used to calculate lead equivalent grade is: calculation Metal Eq (percent) = Gpri + (Gpri × [∑i Ri Si Vi Gi ]/(Rpri Spri Vpri Gpri))