Metals X Limited · ASX:MLX
Metals X — Investor Presentation (September 2019)
29 slides from Metals X's investor presentation, Sep 13, 2019
Slide 1: Investor Update
Investor Update 13 September 2019
Slide 2: Cautionary Statement & Disclaimer
CAUTIONARY STATEMENT & DISCLAIMER This Presentation has been prepared by Metals X Limited (“Metals X”, “MLX” or the “Company”). GENERAL DISCLAIMER This Presentation contains summary information about the Company’s activities current as at the date of this Presentation. The information in this Presen
Slide 3: A Diversified Base Metals Business
A DIVERSIFIED BASE METALS BUSINESS Redeveloping Nifty into a significant “new” “Awaking the Giant” by growing the long life copper mine by unlocking the world class Renison Tin Operations to substantial geological upside through meet the increasing global demand for development into new mining areas
Slide 4: Corporate Overview
CORPORATE OVERVIEW Capital Structure Current Share Price & Market Volume Shares on issue 689,060,508 Share price (as at 12 September 2019) A$0.21 0.35 25,000,000 Daily Volume Traded On-Market Daily Close Price - MLX Market capitalisation (as at 12 September 2019) A$144.7M 0.30 20,000,000 Daily Volum
Slide 5: Renison Tin Operations
RENISON TIN OPERATIONS Optimising A World-Class Tin Mine (Awaking the Giant!) 5
Slide 6: Optimising a World-Class Tin Mine
OPTIMISING A WORLD-CLASS TIN MINE MLX owns 50% of Renison (through Bluestone Mines Tasmania JV): – One of the worlds largest underground tin mines – Currently producing 7,500 – 8,000 tonnes/ year of tin in concentrate – Rentails project could contribute a further 5,400 tonnes of tin per year when
Slide 7: Stable Production, Opportunity to Improve
STABLE PRODUCTION, OPPORTUNITY TO IMPROVE Stable Production Metrics Renison Tin 2017/18 2018/19 2019/20 A$21.4M in site EBITDA during FY19 (MLX share) Operations Actual Actual Guidance Tonnes Mined Mt 0.8 0.8 0.9 Realised sales price margin of 37% over AISC in June 2019 quarter Grade Mined % Sn
Slide 8: FY2020 - Key Focus Areas
FY2020 - KEY FOCUS AREAS Optimising the Mine Schedule To Increase Mine Grades • Continued focus on resource definition drilling at high grade targets including Bell 50 & Leatherwood • Bell 50 recently returned a BMTJV record intersection of 30.1m @ 4.58% Sn within hole U6966* Grade • Bringing the hi
Slide 9: Area 5 Optimisation Study
AREA 5 OPTIMISATION STUDY New Area 5 high-grade resource defined during 2018/2019 - 4.47Mt at 1.91% Sn for 85,200 tonnes of contained tin# Represents a substantial opportunity to increase both mine production and mill feed grade Mining Optimisation Study underway with the aims of determining t
Slide 10: Regional Exploration – Targeting a New Tin Mine
REGIONAL EXPLORATION – TARGETING A NEW TIN MINE 44,000E 43,000E Blow-Federal Target Surface exploration recently recommenced at Renison after a 5 year hiatus Lead Focus is on “near-mine” target identification, with subsequent work to be 67000N undertaken across the under-explored 45km2 Mining Le
Slide 11: Rentails – A Potential Step Change in Tin Production
RENTAILS – A POTENTIAL STEP CHANGE IN TIN PRODUCTION Rentails project is investigating the options to re-process the Renison Operational Renison tailings which comprise an Ore Reserve of 22.3Mt at 0.44% Sn and Tailings Dam 0.23% Cu (99Kt of Sn metal and 51Kt of Cu metal) Represents one of the la
Slide 12: Nifty Copper Operations
NIFTY COPPER OPERATIONS Renovating & Developing a Significant Copper Mine 12
Slide 13: Exploration, Renovation, Development & Production
EXPLORATION, RENOVATION, DEVELOPMENT & PRODUCTION Acquired from Aditya Birla in late 2016 Substantial infrastructure in place and geological upside predicted Operation was heading towards closure Maintenance being neglected and poor operating environment evident Geological potential being unlo
Slide 14: Geological Potential Unlocked
GEOLOGICAL POTENTIAL UNLOCKED Drilling to date has increased resource confidence resulting in a 65% increase in Ore Reserves Investigation of additional Ore Reserve expansion opportunities underway – eg Southeast Region Nifty Resource remains open and/or poorly defined to the east and west wit
Slide 15: Aggressively Developing into New Mining Areas
AGGRESSIVELY DEVELOPING INTO NEW MINING AREAS New mining area development is 10% ahead of schedule: – 2,940m completed since May 2019 – Record 720m in July 2019 Priority development headings include: – Western and eastern ends of Region 4 to provide stoping access – Region 5 to provide drilling
Slide 16: Increasing Operational Efficiency
INCREASING OPERATIONAL EFFICIENCY Example 1 - Efficient Fleet Utilisation Example 2 – Metallurgical Improvements Example 3 – Upgrading Key Infrastructure Pre-Reset the mine operated a fleet of seven Reset review identified significant operational Reset review identified paste filling infrastru
Slide 17: Reset Plan – A New Baseline
RESET PLAN – A NEW BASELINE On track for Phase 1 goal of building to a 2Mtpa mining rate during the March 2020 quarter Reset Plan Phase 1 Progress to date 10% ahead of schedule (new mining areas to the east and west) 1 Development of New Mining Areas 2,940m completed since May 2019 Substanti
Slide 18: On Track for Reset Plan Milestones
ON TRACK FOR RESET PLAN MILESTONES Nifty Outlook On track to achieve 2Mtpa mining rate during March Quarter 2020 Mine output to remain flat for September Quarter 2019, with improvement commencing in the December Quarter 2019 – Production is a ‘lag indicator’ – All leading indicators are positive
Slide 19: Paterson Province Exploration
PATERSON PROVINCE EXPLORATION MLX control ~3,000km2 of the highly prospective Paterson Province 350000E 450000E Magnum (Cu-Au) 7700000N Winu (Cu-Au) Recent RioTinto Winu copper-gold discovery highlights province Phanerozoic Canning Basin Cover potential Crofton Granite Neoproterozoic Yeneena Bas
Slide 20: Wingellina Nickel – Cobalt Project
WINGELLINA NICKEL – COBALT PROJECT Massive Latent Value 20
Slide 21: Wingellina Nickel & Cobalt Development Project
WINGELLINA NICKEL & COBALT DEVELOPMENT PROJECT Australian Undeveloped Nickel Laterite Chart Deposits Tier 1 Strategic and scalable asset 1.60% Equivalent Nickel Bubble Globally significant nickel-cobalt project hosting 1.9Mt of contained nickel and Wingellina High Grade Co Domains 154,000t of contai
Slide 22: Appendix
METALS X LIMITED 2
Slide 23: Mineral Resources & Ore Reserves (Nifty)
MINERAL RESOURCES & ORE RESERVES (NIFTY) Nifty Copper Operations – Mineral Resource Statement At 31 March 2019 Deposit Mineral Resource Mt2 Grade Copper Category1 %Cu Tonnes Nifty Sulphide3 Measured 23.43 1.66% 388,100 Nifty Copper Operations – Ore Reserve Statement Indicated 7.12 1.32% 94,300 At 31
Slide 24: Mineral Resources (Maroochydore)
MINERAL RESOURCES (MAROOCHYDORE) Maroochydore Nifty Copper Operations Copper ProspectCopper - Maroochydore – MineralProspect Resource Statement Mineral Resource Statement at 31 At 31 March March 2016 2016 Copper Cobalt Mineral Resource 1 Grade Copper Grade Cobalt Deposit Mt 2 2 Category % Cu tonnes
Slide 25: Mineral Resources & Ore Reserves (Renison)
MINERAL RESOURCES & ORE RESERVES (RENISON) Renison Tin Operations - Mineral Resource Statement At 31 March 2019 (MLX 50% Share) Renison Tin Operations - Ore Reserve Statement At 31 March 2019 (MLX 50% Share) 25
Slide 26: Mineral Resources & Ore Reserves (Central Musgrave)
MINERAL RESOURCES & ORE RESERVES (CENTRAL MUSGRAVE) Central Musgrave Project - Mineral Resource Statement At 30 June 2016 Central Musgrave Project - Ore Reserve Statement At 30 June 2016 26
Slide 27: Appendix – Competent Persons Statements
APPENDIX – COMPETENT PERSONS STATEMENTS Acceptance By attending an investor presentation or briefing, or accepting, accessing or reviewing this Presentation you acknowledge and agree to the terms set out in the Cautionary Statement and Disclaimer. JORC Compliance Statement - Competent Persons Statem
Slide 28: Appendix – Competent Persons Statements
APPENDIX – COMPETENT PERSONS STATEMENTS Competent Person Statement – Nifty Sulphide Ore Reserve The information in this announcement relating to the Nifty Sulphide Ore Reserve has been extracted from Metals X’s announcement released on 28 August 2019 and is available to view at http://www.metalsx.co
Slide 29: Appendix – Competent Persons Statements
APPENDIX – COMPETENT PERSONS STATEMENTS Competent Person Statement – Nifty Sulphide Mineral Resource The information in this announcement that relates to Mineral Resources for the Nifty Sulphide Mineral Resource has been extracted from Metals X’s announcement released on 28 August 2019 and is availa