Highfield Resources Limited · ASX:HFR
Highfield Resources — Shareholder Meeting (May 2021)
29 slides from Highfield Resources's shareholder meeting presentation, May 27, 2021
Slide 1: Constructing the Next European Potash Mine
For personal use only Constructing the Next European Potash Mine AGM Presentation | May 2021
Slide 2: Competent Persons Statement for Muga Potash Project
For personal use only COMPETENT PERSONS STATEMENT FOR MUGA POTASH PROJECT This presentation was approved by Mr Ignacio Salazar, CEO of Highfield Resources. The information in this presentation that relates to Ore Reserves is based on information prepared by Dr Mike Armitage, the Chairman of SRK Cons
Slide 3: Welcome
Welcome For personal use only Welcome to the Annual General Meeting of Highfield Resources Limited Mr Richard Crookes - Chairman
Slide 4: Highfield Resources Board and CEO
Highfield Resources Board and CEO For personal use only Richard Crookes, Chairman Pauline Carr, Non-Executive Director Roger Davey, Non-Executive Director Brian Jamieson, Non-Executive Director Isaac Querub, Non-Executive Director Ignacio Salazar, CEO
Slide 5: Questions
Questions For personal use only Questions to the Board or the Company’s auditor- Mr Andrew Forman, regarding the financial report or specific to the resolutions being presented today will be addressed throughout the formal section of the meeting. All other general questions will be addressed after t
Slide 6: Voting – online poll
Voting – online poll For personal use only The real-time online poll is now open. Voting on the poll will remain open until after the Corporate Presentation has concluded.
Slide 7: Ordinary business
Ordinary business For personal use only To consider the Financial Statements for the financial year ended 31 December 2020 and accompanying reports of the Directors and Auditor.
Slide 8: Resolution: Adoption of the Remuneration Report
Resolution 1 : Adoption of the Remuneration Report For personal use only To consider and, if thought fit, pass, with or without amendment, the following resolution as a non-binding ordinary resolution: ‘That the Company adopt the Remuneration Report for the year ended 31 December 2020 as set out in
Slide 9: Resolution: Re-election of Mr Roger Davey as Director
Resolution 2 : Re-election of Mr Roger Davey as Director For personal use only To consider and, if thought fit, pass, with or without amendment, the following resolution as an ordinary resolution: ‘That Mr Roger Davey, having voluntarily retired in accordance with clause 12.11.1 of the Constitution
Slide 10: Resolution: Re-election of Mr Brian Jamieson as Director
Resolution 3 : Re-election of Mr Brian Jamieson as Director For personal use only To consider and, if thought fit, pass, with or without amendment, the following resolution as an ordinary resolution: ‘That Mr Brian Jamieson, having voluntarily retired in accordance with clause 12.11.1 of the Constit
Slide 11: Resolution: Re-election of Mr Isaac Querub as Director
Resolution 4 : Re-election of Mr Isaac Querub as Director For personal use only To consider and, if thought fit, pass, with or without amendment, the following resolution as an ordinary resolution: ‘That Mr Isaac Querub, having voluntarily retired in accordance with clause 12.11.1 of the Constitutio
Slide 12: Resolution: Approval of 10% Placement Facility
Resolution 5 : Approval of 10% Placement Facility For personal use only To consider and, if thought fit, pass, with or without amendment, the following resolution as an ordinary resolution: ‘That pursuant to and in accordance with Listing Rule 7.1A and for all other purposes, shareholders approve th
Slide 13: Ignacio Salazar, CEO and Olivier Vadillo, Head of Investor Relations
Corporate Presentation For personal use only Ignacio Salazar, CEO Olivier Vadillo, Head of Investor Relations
Slide 14: Constructing the Next European Potash Mine
For personal use only Constructing the Next European Potash Mine Corporate Presentation | May 2021
Slide 15: Competent Persons Statement for Muga Potash Project
For personal use only COMPETENT PERSONS STATEMENT FOR MUGA POTASH PROJECT This presentation was approved by Mr Ignacio Salazar, CEO of Highfield Resources. The information in this presentation that relates to Ore Reserves is based on information prepared by Dr Mike Armitage, the Chairman of SRK Cons
Slide 16: Highfield Resources and the Muga Project
Highfield Resources and the Muga Project For personal use only Local Spanish head office and project office with the entire executive team based in Pamplona, near the Muga Project site Muga Mine The flagship Muga Conventional Muga is a two phase A potash developer Project covers about Underground Ro
Slide 17: Muga is Moving along the Project Life Cycle
Muga is Moving along the Project Life Cycle For personal use only Market Promotion Operating Mine Feasibility study released The mine is operating and Orphan period 2.50 Market speculation on timing of generates cash flow. Some risks After initial speculation is over and permitting and financing rem
Slide 18: Current Status: Pre-Construction ready
Current Status: Pre-Construction ready For personal use only • All Mining Concession documentation has been reviewed with no red flags raised Permitting • Mining Concession Document with Government lawyer for final review and signing • This is the final step in the Mining Concession approval process
Slide 19: Next Steps
Next Steps For personal use only Tendering and planning construction Pre- Construction Contract with construction partner CONSTRUCTION, Debt credit approval COMMISSIONING & HAND-OVER Financing Finalise equity financing OPERATIONAL READINESS Power Townhall Plant Licences Mine gate
Slide 20: Resources
Resources Highfield Resources
Slide 21: Shallow Mineralization, Conventional Mining, with Tier-One Infrastructure in Place
Shallow Mineralization, Conventional Mining, with Tier-One Infrastructure in Place For personal use only 350m Decline access to shallow mineralization; underground Room and Pillar mining. No aquifers Close to the Port of Bilbao (~220km), Spain’s largest port First class infrastructure and access to
Slide 22: Significant Logistical Competitive Advantage
Significant Logistical Competitive Advantage For personal use only Extremely competitive and versatile export options ~1,750km from mines to port Excellent existing Muga will be one of ~1,700km from mines to port infrastructure only two potash mines located in Southern Europe ~6,800 nautical miles ~
Slide 23: Top Quartile Margins in the Industry
Top Quartile Margins in the Industry For personal use only European prices continue to trade at a Margin curve forecast for 2024 (real US$) premium to other markets 400.00 200 350.00 150 300.00 US$/t 100 MOP US$/t 250.00 200.00 50 150.00 0 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 -50 Potash St
Slide 24: Low Capex Intensity and Strong Project Economics
Low Capex Intensity and Strong Project Economics For personal use only Phase 1 capex of €368 million plus Phase 2 capex of €208 million Muga will be about half the capex intensity per tonne of potash compared to other potash producers 1800 1600 1400 Capex intensity $/t 1200 1000 800 600 400 200 0 BH
Slide 25: Strong Financial Position and Equity Markets Support
Strong Financial Position and Equity Markets Support For personal use only EMR Capital, Australian Debt credit of Work ongoing Cash of strong Super, €185 million with A$15.8 supporter and supportive previously Endeavour million as at Highfield’s shareholder approved by financial for 31 March largest
Slide 26: Industry Leading ESG Credentials
Industry Leading ESG Credentials For personal use only ❖ Environmental compliance and commitment through DIA award Environmental ❖ Progressively rehabilitate mine: Backfilling and salt sales Factors ❖ Muga will be the only mine not to leave residue on the surface after production ❖ Strong local supp
Slide 27: Global Potash Prices on the Move at the Right Time
Global Potash Prices on the Move at the Right Time For personal use only Strong market fundamentals Upward price forecasts Soybean prices are the highest in 5 years 02 10 525 02 08 Billion 06 485 Billions of tonnes 01 04 01 445 US$/t 02 00 00 405 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 201
Slide 28: An Investment Opportunity in the Next Major European Potash Mine
An Investment Opportunity in the Next Major European Potash Mine For personal use only Muga Potash Mine Highfield Resources Strong market fundamentals Strong financial position and Global potash prices on the move financial markets support Location is a major strategic advantage Experienced Manageme
Slide 29: For personal use only
REGISTERED OFFICE 169 Fullarton Road For personal use only Dulwich SA 5065 Australia SPAIN HEAD OFFICE Avenida Carlos III, 13-15, 1B, 31002 Pamplona, Spain T: +34 948 050 577 | F: +34 948 050 578 FURTHER INFORMATION Ignacio Salazar CEO T: +34 948 050 577 Olivier Vadillo Investor Relations T: +34 609