Boab Metals Ltd · ASX:BML
Boab Metals — Investor Presentation (October 2023)
35 slides from Boab Metals's investor presentation, Oct 13, 2023
Slide 1: Advancing the Sorby Hills Lead-Silver Project Toward a Final Investment Decision
For personal use only Advancing the Sorby Hills Lead-Silver Project Toward a Final Investment Decision 13 October 2023 Boab Metals Limited ASX:BML Boab Metals Limited ASX:BML 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 (9 October 2023) Share Price History For personal use only Share Price Debt 4.0 0.40 Volume (million shares) A$0.10 / share Nil 3.5 0.35 Share Price (A$/share) 3.0 0.30 Shares on Issue Cash 2.5 0.25 174 million shares A$3.0 million (30 Septembe
Slide 4: 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. For personal use only • Supported by rapid growth in utility and renewable energy storage1. 1. www.batteryi
Slide 5: 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. For personal use only • Silver‘s traditional role as a storer of wealth is complemented by its increasing industrial demand. • The use of Silver in solar cells has incr
Slide 6: 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 For personal use only • High quality Mineral Resource with significant near mine and greenfields exploration upside • 150km by existing sealed roads to
Slide 7: DFS results support progress toward a Decision to Mine
Sorby Hills Project DFS results support progress toward a Decision to Mine1 For personal use only 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
Slide 8: High Quality Mineral Resource Estimate
Sorby Hills Project High Quality Mineral Resource Estimate Grade Contained Metal Tonnes Deposit Classification Pb Zn Ag PbEq1 Pb Zn Ag (Mt) For personal use only % % 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
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 For personal use only 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 M
Slide 10: Process Flow Sheet
Sorby Hills Project Process Flow Sheet ▪ Conventional Process Plant design For personal use only supported by extensive metallurgical testwork and process engineering. ▪ GR Engineering Services (“GRES”) selected as preferred tender for Process Plant EPC. ▪ Feed Capacity of 2.25Mtpa (a 50% increase o
Slide 11: Path to Market
Sorby Hills Project Path to Market Agreement for Access and Stevedoring For personal use only 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 S
Slide 12: Project Optimisation Workstreams
Sorby Hills Project Project Optimisation Workstreams ▪ Boab is undertaking a series of Project Optimisation Workstreams in conjunction with Front-End Engineering and For personal use only Design (“FEED“) to explore opportunities further improve Project economics ahead of a Final Investment Decision.
Slide 13: 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 both For personal use only 18,000,000 900,000 above-ground tailings storage within an High grade Silver from the 16,000,000 Norton
Slide 14: Detailed Design and Optimised Plant Layout
Sorby Hills Project Detailed Design and Optimised Plant Layout Primary Crusher ▪ GRES has completed FEED For personal use only Workstreams ▪ FEED output has resulted in: Flotation Circuit • detailed plant design; • optimised site layout; • the issue of tender packages Filter Press for long-lead item
Slide 15: Metallurgical Testwork to enhance Metal Recoveries
Sorby Hills Project Metallurgical Testwork to enhance Metal Recoveries ▪ Phase VII Drilling Program completed. Assay results For personal use only targeted for late October / early November 2023. ▪ Metallurgical drill holes completed at the Norton Deposit. New testwork will target a significant incr
Slide 16: Clean Power Solution
Sorby Hills Project Clean Power Solution ▪ Heads of Agreement executed with Horizon Power For personal use only 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, che
Slide 17: Updated tenders to reprice key contract packages
Sorby Hills Project Updated tenders to reprice key contract packages DFS C1 Operating Costs (%) Mining Costs For personal use only Lead Treatment Charge, 12% Processing, 29% ▪ Mining comprised 44% of the DFS Operating Costs. Logistics, 9% G&A, 7% ▪ Tenders for the Mining Contract were received in 20
Slide 18: Near-term opportunity to upgrade Mineral Resource
Sorby Hills Project Near-term opportunity to upgrade Mineral Resource Phase V – 15 holes not yet included in Mineral Resource Estimate For personal use only ▪ 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
Slide 19: Near-term opportunity to increase production target
Sorby Hills Project Near-term opportunity to increase production target A B For personal use only C D Either “Cross Section” or “cross section” Figure: Norton deposit cross Section showing the position of recently completed drill holes, intercepts and reinterpreted outline of the mineral resource en
Slide 20: Progress towards a Final Investment Decision
Sorby Hills Project Progress towards a Final Investment Decision • FEED Workstreams largely complete. For personal use only • Independent Technical due diligence largely complete. • Optimisation Workstreams delivering positive results. • Mining Leases granted, EPA Approval in place. • Independent ES
Slide 21: Strategic Growth Opportunities: Keep Seismic Target
Boab Metals Limited Strategic Growth Opportunities Keep Seismic Target. For personal use only ▪ 1st drill hole potential discovery hole (2 km south of existing Sorby Hills reserves) ▪ Possible New Zone with scope for extensive development of mineralisation Intersected ▪ Upper Mineralised Zone::~5m o
Slide 22: Strategic Growth Opportunities: Eight Mile Creek
Boab Metals Limited Strategic Growth Opportunities Boab owns a 100% interest the Eight Mile Creek - For personal use only Exploration Licence E80/5317 Key highlights include: ✓ Exploration Tenements ✓ Scout drilling has confirmed the covering 206 km2 of existence of a favourable relatively underexpl
Slide 23: Strategic Growth Opportunities: Manbarrum Project
Boab Metals Limited Strategic Growth Opportunities Boab owns a 100% interest in the Manbarrum Zinc- For personal use only 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
Slide 24: 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 For personal use only Sponsor of the Ord Valley Muster for 2023 and beyond. • Sense of community plays a key role in economic and social well-being of stake
Slide 25: Kununurra Accommodation Facility Agreement
Boab Metals Limited Establishing Deep Roots within the Community and supporting better outcomes Heads of Agreement executed with the Shire of Wyndham For personal use only and East Kimberley (“SWEK”) for the construction and long- term lease of a new accommodation Facility located in Kununurra. Key
Slide 26: Joint Venture
Sorby Hills Joint Venture Boab (75% interest) Henan Yuguang Gold and Lead Co., Ltd (25% contributing interest) For personal use only • 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 Joi
Slide 27: Current focus and upcoming Share Price Catalysts
Sorby Hills Project Current focus and upcoming Share Price Catalysts • Continue engagement with potential financers. For personal use only • Release Assay Results for the Phase VII Drilling Program. • Receive updated Mining and Bulk Earthworks contracts tenders based on updated mining schedule and o
Slide 28: Thank You
For personal use only Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals Thank You
Slide 29: Appendix
For personal use only Appendix Boab Metals Limited ASX:BML 29
Slide 30: Board and Management
Board and Management For personal use only 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’
Slide 31: Definitive Feasibility Study: Capital Costs
Sorby Hills Definitive Feasibility Study Capital Costs Pre-production Sustaining Total Tendered Pricing for 75% of Item For personal use only (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 a
Slide 32: Definitive Feasibility Study: Operating Costs
Sorby Hills Definitive Feasibility Study Operating Costs Total Unit Costs Competitive C1 cash cost of US$0.39/lb Item For personal use only (A$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
Slide 33: 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 For personal use only 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 - -
Slide 34: 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$M 1,789.7 - - 177.1 223.9 227.2 187.0 206.2 221.5 205.6 248.7 92.4 - For personal use only Silver Revenue A$M 691.7 - - 49.1 73.4 8
Slide 35: 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))