Asarian Energy Limited · TSX:ARN
Asarian Energy — Forsys Metals — Investor Presentation (September 2024)
32 slides from Asarian Energy's investor presentation, September 2024
Slide 1: Corporate Presentation: Accelerating the Norasa Uranium Project in Namibia
Corporate Presentation SEPTEMBER 2024 Accelerating the Norasa Uranium Project in Namibia forsysmetals.com 1 TSX:FSY
Slide 2: Forward-Looking Statements
Forward-Looking Statements The data contained in this presentation is provided for information purposes only. Certain information has been compiled from sources believed to be reliable. No information in this presentation is to be construed as an offer to buy or sell securities. The reader agrees to
Slide 3: Forsys' Overview
Forsys’ Overview Forsys Metals Corp. Forsys is positioned to become a top tier Credentials uranium producer § Explorer / developer § Exciting uranium market and nuclear take-off is § TSX listed since 2007 incentivising Uranium explorers and investors § 100% owned uranium deposit assets in Namibia ac
Slide 4: Uranium Demand is Driving New Bull Market
Uranium Demand is Driving New Bull Market WNA supply / demand reference scenario * Strong Growth in U3O8 Price § In 2022/23, only 76% of world reactor fuel requirements were covered by primary uranium supply § By mid-2020s, restart of idled capacity expected, however decreased supply from existing m
Slide 5: Namibia: Well-Established Mining-Friendly Jurisdiction
Namibia: Well-Established Mining-Friendly Jurisdiction vpolitically stable and low risk jurisdiction § Government regulation, fair tax & support to grow mining sector § Fraser 2021 Survey of mining jurisdictions (1st in Africa, 26th in World) v 3rd largest producer in 2022 * § 2nd largest producer o
Slide 6: Namibia's Uranium District
Namibia’s Uranium District Norasa is situated in the Erongo Region vNamibia hosts three Tier-1 operational mines Trekkorie Mine § CNNC’s Rössing Mine (48 years in production) Elevate Uranium Norasa Project § CGN’s Husab Mine (7 years in production) Project Namibplaas § Paladin’s Langer Heinrich Mine
Slide 7: Norasa Comprises Valencia and Namibplaas Deposits
Norasa Comprises Valencia and Namibplaas Deposits v ML 149 Valencia: 25 year licence until June 2033 v EPL 3638 Namibplaas is valid until November 2026 v Environmental Clearance Certificate ECO2300417 § Valid to 23 May 2026 for mine development and accessory works on ML149 and prospecting activities
Slide 8: Summary of 2024 Mineral Resources Estimate
Summary of 2024 Mineral Resources Estimate Mass Average Grade Material Content Contained Metal U Class Deposit Mt eU3O8 U3O8 tonnes (metric) (ppm) Mlbs Valencia East Valencia Main 7.6 171 2.9 1,099 Measured Namibplaas Norasa 7.6 171 2.9 1,099 Valencia East Valencia Main 144.3 134 42.6 16,368 Indicat
Slide 9: Uranium Resources - Valencia
Uranium Resources - Valencia forsysmetals.com 9 TSX:FSY
Slide 10: Uranium Resources - Namibplaas
Uranium Resources - Namibplaas Rock Type Model Mineralised Model Namibplaas Constrained Resources U3O8 Grade Model Norasa Constrained Resources NORASA TOTAL Classification Cut-off Tonnes Grade U3O8 Cont’d Category (ppm U3O8) (Mt) (ppm U3O8) (Mlbs) 40 7.6 171 2.9 Measured 60 7.6 172 2.9 100 6.9 180 2
Slide 11: Exploration Drilling Showing Significant Upside Potential
Exploration Drilling Showing Significant Upside Potential • Valencia South: resource drilling intersected returning average of 210 ppm U3O8 over a 253 m interval, including 16m at 655 ppm U3O8. Additionally, intersected 363 ppm eU3O8 over 43m from 366 to 409 metres and 213 ppm U3O8 over 53m from 179
Slide 12: Cross-Sections Show Multiple Seams >400 ppm
Cross-Sections Show Multiple Seams >400 ppm Valencia South and Valencia West targets Valencia East Target forsysmetals.com 12 TSX:FSY
Slide 13: Pit Design Block Model
Pit Design Block Model v The updated resource block model is used to assess open pit economic models. Pit slope design parameters are being reviewed to include lithological logging and geomechanical test work from additional drilling; v Mineralisation is strongly associated with alaskite intrusions,
Slide 14: Process Overview
Process Overview v Overview of the processing stages v Inputs: § Mined ore (> cut off grade) § Reagents & consumables § Utilities v Outputs: § Waste rock dumps (< cut off grade) § Ripios – leach residue on storage dump § Drummed U3O8 product forsysmetals.com 14 TSX:FSY
Slide 15: Heap Leach Offers Compelling advantages over Tank Leach
Heap Leach Offers Compelling advantages over Tank Leach v Present trend to develop heap leach projects for uranium in Namibia - Bannerman; Husab Mine (low grade); Rossing Mine (low grade ) v Advantages: ü Simpler flowsheet with Lower Capex and Opex compared to tank leach ü No milling – lower power d
Slide 16: First Landmark Box Cut Rock Blast at Valencia
First Landmark Box Cut Rock Blast at Valencia v Initial blast for the development of a box cut at Valencia (ML-149) v With the blast the company advanced the groundwork to extract a large bulk sample of fresh ore (> 20,000 tons) for large column and heap leach pilot test work. v Attended by governme
Slide 17: Accelerating Valencia
Accelerating Valencia Focusing effort on Valencia into production asap Speed to market given surge in uranium prices v Project team comprising over 27 specialist professionals: exploration and resource modeling geologist, mining engineers, mineral process engineers and metallurgists renders Start wi
Slide 18: Forsys Metals Corp: Capital Markets Profile
Forsys Metals Corp: Capital Markets Profile Share price Capital Structure @ 9th September 2024 Tickers TSX: FSY, FSE: F2T, NSX: FSY Retail Institutional 42% 54% Share Price (August C$0.54 19, 2024) 52-Week Trading C$0.37 – C$1.13 Range Management Basic Shares 195.2M 4% Outstanding Options 7.7M1 FD S
Slide 19: Project Progress Highlights
Project Progress Highlights Status Highlights n Mineral Resource Estimate 2024 New MRE reported to 43-101 2/3rds complete showing significant n Exploration drilling upside 1st blast completed on >70 000 tonnes n Box cut rock blast overburden n Mine plan completion In process of finalisation Amendmen
Slide 20: Workstream Progress Q3 2024
Workstream Progress Q3 2024 • Nearby aquifer pump tested, water supply established for pilot • Completed Heap vs. Tank Leach tradeoff study heap leach plant General • Produced updated MRE Utilities • Routes for all linear infrastructure assessed • NamPower proposal due end September 2024 • Produced
Slide 21: Experienced Management & Board
Experienced Management & Board Mark Frewin, CEO (since 2019) & Director (since 2005) Martin Rowley, Chairman (since 2007) Over 35 years of legal experience (both in practice and corporate) with § Over 40 years experience in mining projects globally focus on mining sector transactions § Served as Dir
Slide 22: Namibia Project Team
Namibia Project Team Pine van Wyk│ Project Leader- Norasa Uranium Barbara Mulcahy, Lead process Engineer, Owners Team § Qualified Metallurgical Engineer with over 25 years project experience in African § Process engineering consultant with over 26 years experience in the mining industry in Senior Op
Slide 23: Experienced Project Team in Namibia
Experienced Project Team in Namibia Hafeni Hiveluah│ EPL/ ML Administrator Carren van Wyk│ Finance Manager (Owners Team) § Geoscientist with over 21 years of experience in multiple leading mining companies in SA & Nambia, Ongopolo Mining and Processing Ltd, Debmarine § Postgraduate Diploma in Manage
Slide 24: Forsys Metals: Investment Rationale
Forsys Metals: Investment Rationale v Valencia deposit permitted for mine development and operation. Valencia Orebody permitted v Low-risk jurisdiction with stable regulations and strong government & social support Mining friendly Jurisdiction v Namibia is 2nd largest producer of uranium in 2022 Str
Slide 25: Contact Information
NYSE AMERICAN & TSX:VGZ Contact Information www.vistagold.com Richard Parkhouse │ Director of Investor Relations § Email: info@forsysmetals.com § Email: rparkhouse@forsysmetals.com forsysmetals.com 25 TSX:FSY
Slide 26: Appendix 1: Sector Dynamics
Appendix 1: Sector Dynamics forsysmetals.com 26 TSX:FSY
Slide 27: Uranium Bull is incentivising miners and investors
Uranium Bull is incentivising miners and investors Despite recent drop, U3O8 back to pre-Fukushima Uranium miners and spot prices have accelerated since 2019 Ø Rising demand and geopolitical instability are supporting higher uranium prices in 2025: invasion of Ukraine and coup in Niger disrupted nuc
Slide 28: The Uranium market has a structural supply deficit
The Uranium market has a structural supply deficit Electricity demand to increase by 165% by 2050 WNA supply / demand reference scenario * 80,000 76,838 World Electricity Demand (Terawatt-hour – 70,000 60,000 165% 50,000 40,000 29,033 30,000 TWh) 20,000 10,000 0 2010 2021 2022 2030E 2040E 2050E * Wo
Slide 29: Uranium Supply and demand imbalance may grow
Uranium Supply and demand imbalance may grow Mine supply remains well short of world demand needs Ø Unprecedented number of nuclear plant restarts, extensions and new builds is increasing demand for uranium Ø There are 440 operational reactors globally with 60 under construction and a further 92 pla
Slide 30: Global Net Zero goals align with nuclear growth
Global Net Zero goals align with nuclear growth Nuclear became centre stage in the net zero agreement at COP28 Largest uranium Producing Nations United Kingdom Canada EU 2050 China 3% 2050 2050 14% Belgium Finland Japan Niger 4% 13% 46% 35% 2050 Russia 5% Spain Germany 6% 20% 6% Russia Uzbekistan 7%
Slide 31: Appendix 2: Namibia Project Team
Appendix 2: Namibia Project Team forsysmetals.com 31 TSX:FSY
Slide 32: Namibia Project Team
Namibia Project Team Owners Team CEO Key Consultants Mark Frewin Contractors 01 Project Management Pine Pine van Wyk Willem Carren Exploration Specialist 12 Business Development Project Controls Dr. Rainer Elmies Pine van Wyk Willem Steyn 10 Legal & Land Access 11 Business Modelling ENSafrica: Wolf
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