Anglesey Mining Plc · LSE:AYM
Anglesey Mining — Investor Presentation (June 2024)
33 slides from Anglesey Mining's investor presentation, June 2024
Slide 1: Company Presentation
Company Presentation June 2024
Slide 2: Disclaimer
DISCLAIMER PURPOSE OF PRESENTATION: This presentation has been prepared by Anglesey Mining plc (Company Registered Number 1849957) and should be read in conjunction with the Company’s Annual Report, released by Anglesey Mining plc on 25 September 2023 and subsequent RNS announcements made by the Com
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS Advancing the UK’s largest copper project (16.1Mt at 1.9% CuEq) BASE METALS Permitting process well advanced and significant infrastructure in place PEA 14ktpa CuEq over 12-yrs with pre-tax NPV of $120m (> $270m at spot) Significant exploration upside around the Northern Copper
Slide 4: Board Members
BOARD MEMBERS • New CEO appointed on 1st May 2024 - the Board have complementary skills and experience • Board determined to deliver a value accretive mining operation at Parys Mountain Rob Marsden: Chief Executive Officer Andrew King: Interim Non-Executive Chairman: Appointed May 2024. Mining Engin
Slide 5: Corporate Overview
CORPORATE OVERVIEW Ticker Code AYM Shares in Issue (m) 420.09 Share price (GBp) 1.50 Market Capitalisation (£m) 6.301 Balance Sheet Net Current Assets* (£m) 0.7 Non-current Liabilities* (£m) 3.9 Cash position** (£m) 0.1 Share price as at 24-May-2024 * B/S items from 30-Sep-23 Interim Financials ** A
Slide 6: Parys Mountain - Snapshot
PARYS MOUNTAIN - SNAPSHOT Location, location, location… • Significant local infrastructure in place including roads, rail, port and power (already connected at site) Parys • Classified as ‘Dormant Site’ – same as Hemerdon and Mountain South Crofty, both now permitted Holyhead Port • Previous permits
Slide 7: Recognised Partners
RECOGNISED PARTNERS Highly respected organisations assisting with all aspects of production studies and permitting 15/06/2024 www.angleseymining.co.uk 7
Slide 8: PEA Development Case
PEA DEVELOPMENT CASE PEA released in January 2021 – Low capex, short time-line to production Morris Shaft STOPING PLAN IN RED & DECLINE IN • Base Case ramping up to 3,000tpd BLUE FROM 2021 PEA WHITE ROCK Short construction period, 12-year mine life 0.6m @ 0.5% 14.9m @ 2.6% $99m capex, 3.5-yr pay
Slide 9: Metallurgy
METALLURGY Pre-concentration and conventional flotation to produce metal concentrate • Recent testwork confirms Parys Mountain ores can be upgraded 52% by DMS and 55% via XRT prior to flotation Zinc Lead Copper ZnEq Mass Rejection Metal Loss (%) (%) (%) (%) (%) (%) Bulk Sample 3.6 3.1 0.4 7.5 - - DM
Slide 10: Metal Profile
METAL PROFILE Metal profile supports electrification and decarbonisation of the economy • At 3,000tpd, an average output of c.15ktpa CuEq, peaking at c.20kt CuEq NSR BY METAL (PEA PRICING) ANNUAL OUTPUT IN COPPER EQUIVALENTS 16000 7% 14000 Ag Au 12000 20% Pb Cu 40% 10000 Zn Pb/Ag 8000 Zn Au 6000 400
Slide 11: Current Permitting Status
CURRENT PERMITTING STATUS Permitting process has commenced – existing planning permissions in place • A permit was granted in 1988 to allow sinking of shaft and underground development • Subsequently, the mine portal and spiral decline were permitted in 1991 • Review of existing planning permissions
Slide 12: Respecting the Heritage
RESPECTING THE HERITAGE Remaining resources are underground and located outside of the historic mining site • All future mining will be underground • There are no plans to do any surface or open pit mining • Preservation of existing heritage areas, Sites of Special Scientific SSSI’s Interest (SSSI’s
Slide 13: Future Opportunities
FUTURE OPPORTUNITIES Limited modern work opens up significant opportunities for exploration upside • Production studies are the initial focus, but we are keen to explore the VMS system further E E • Very limited modern exploration work has been conducted over the field • Review of regional targeting
Slide 14: Underexplored VMS System
UNDEREXPLORED VMS SYSTEM Sporadic exploration followed by infill drilling of White Rock and Engine Zone 80 70 Infill Exploration Number of holes drilled 60 50 40 30 20 10 0 • Northern Copper Zone first identified in 1961 drilling • White Rock and Engine Zone discovered 1980 – 1981 • Since 1961, a to
Slide 15: Potential for Parys Mountain to Grow
POTENTIAL FOR PARYS MOUNTAIN TO GROW Parys Mountain compared to Golden Grove (WA, Aus) and Rosebery (Tas, WA) Parys Mountain Golden Grove Rosebery ~16Mt ~48Mt ~50Mt U/G Discovered – 1962 Discovered – 1971 Discovered – 1893 Opened - 1990 Opened - 1936 ? ? ? ? • The underground resources were all disc
Slide 16: Potential Exploration Opportunities
POTENTIAL EXPLORATION OPPORTUNITIES Open at depth and along strike • A significant number of global VMS mines have been extended once operations commence Morris Shaft Total contained metal 114kt 0.34Mt CuEq CuEq 14.9/2.6 E A White Rock Extension 280mRL B Engine Zone Extension 600m 168kt CuEq 16.8/0.
Slide 17: Historical Drill Hits
HISTORICAL DRILL HITS Northern Copper Zone and Southern Contact (Garth Daniel) unfinished business • These zones needs further drilling to confirm grades and continuity (all Inferred resource category) Selection of High Grade Intersections Selection of Broad Lower Grade Intersections Hole ID Depth W
Slide 18: Multiple Target Horizons
MULTIPLE TARGET HORIZONS Garth Daniel Zone Central Zone Northern Copper Zone High-grade polymetallic High-grade polymetallic Cu dominant stockwork, massive sulphides similar to massive sulphides (same veinlets hosting cp-py-qtz Engine Zone stratigraphic level as Engine (feeder to Central Zone) Zone)
Slide 19: Northern Copper Zone History
NORTHERN COPPER ZONE HISTORY M-series holes discovered the lode in 1962 • Internal resource estimate of 17Mt @ 0.71% Cu in 1968, with ‘potential’ scale implied at 60 – 200Mt Morris Shaft WHITE ROCK AMC22 H3 AMC14 M4 280mRL 600m AMC17 AMC15 H32 H33 AMC19 A15 H30 H35 A12 AMC16 NORTHERN AMC9 A3A H34 M1
Slide 20: Potential High-Grade Extension
POTENTIAL HIGH-GRADE EXTENSION Morris Shaft 4600E 1962 1968 - 1972 1973 - 1975 1981 - 1985 2004 - 2008 H3 2012 280mRL 600m 1.8m @ 11.7% 3.3m @ 9.0% IM6 A13 AMC9 2.0m @ 1.4% A12 2.0m @ 1.0% AMC9A A14 1.6m @ 2.5% 0.9m @ 12.1% A29 2.4m @ 5.8% 6.0m @ 3.9% NO 19.4m @ 3.9% 0.3m @ 3.7% NO 4.8m @ 5.4% DRILL
Slide 21: H1 2024 Drilling of Northern Copper Zone
H1 2024 DRILLING OF NORTHERN COPPER ZONE • Northern Copper Zone has demonstrated potential to host a significant copper resource View of the 4600mE section line looking west • Drilling is clearly validating the geological model with mineralised zones occurring where anticipated • NCZ002 intersected
Slide 22: Drill Results Confirm Geological Model and Highlight Potential Resource Upside
DRILL RESULTS CONFIRM GEOLOGICAL MODEL AND HIGHLIGHT POTENTIAL RESOURCE UPSIDE View of the 4800mE section line looking west • NCZ001 intersections include: • 63.0m @ 0.7% CuEq (NCZ): and, • 22.0m @ 3.7% CuEq (Garth Daniel) • Garth Daniel intersection includes: • 4.0m @ 4.9% CuEq (5.2% Cu, 5.0g/t Ag
Slide 23: Grängesberg - Sweden
GRÄNGESBERG - SWEDEN Current stake of 49.75% with a ROFR in place to get to 100% • Prior to closure in 1989, the Grängesberg Mine was the third largest iron ore mine in Sweden mining up to 4Mpta • Located in Bergslagen District, the project hosts a significant resource base of 148Mt at 41.3% Fe (ope
Slide 24: PFS Update Complete
PFS UPDATE COMPLETE PFS Update demonstrates very strong economics • The PFS Update (Jul-22) confirmed reserves of 82.4Mt at 37.2% Fe and 16-yr mine life • Key aspects of the study: • Annual output of 2.5Mtpa producing a premium 70% Fe feedstock • Pre-production capital of $399m, with 3.6-yr payback
Slide 25: Pumped Hydro Storage Option
PUMPED HYDRO STORAGE OPTION MOU with Mine Storage International AB provides significant optionality • Hydro-Storage Options to be studied for Grängesberg • A potential long-term revenue stream from the Grängesberg Mine to enhance the cashflow determined from the July 2022 Prefeasibility Study Update
Slide 26: Highly Strategic Project
HIGHLY STRATEGIC PROJECT A potential secure supply of iron ore for European Electric Arc Furnaces • A highly strategic iron ore asset positioned to assist European steel producers shorten supply chains and reduce carbon emissions • Decarbonising the steel industry will require an increase in high gr
Slide 27: Sweden – Tier 1 Jurisdiction
SWEDEN – TIER 1 JURISDICTION A favourable location to develop a mine Kiruna • Sweden is regarded as one of the best mining locations globally and Malmberget (Fe) (Fe) Aitik is ranked in the top 20 states & provinces globally in the most recent (Cu-Au) Kallak Fraser Institute Investment Attractivenes
Slide 28: Creating a Brighter Future
CREATING A BRIGHTER FUTURE ENVIRONMENT Focus on emissions & use of renewable energy Tailings and water management Respect of local farming industry DIVERSITY COMMUNITY Ensure that no-one is excluded Licence to Bringing employment to local people Enable local suppliers No barriers Exp
Slide 29: Key Focus on Parys Mountain
U1 KEY FOCUS ON PARYS MOUNTAIN • 100% stake • 49.75% stake • 11.9% Equity stake in LIM Labrador Iron Mines Parys Mountain Grängesberg Iron • Resource base of 16.1Mt at • 2022 PFS Update confirms with current market 1.9% CuEq 82.4 Mt reserve supporting valuation of c.US$665k 2.3 – 2.5 Mtpa of • Houst
Slide 30: Appendix 1: Resources & Reserves
APPENDIX 1 Resources & Reserves 15/06/2024 www.angleseymining.co.uk 30
Slide 31: Parys Mountain - Resources
PARYS MOUNTAIN - RESOURCES Engine Zone1 Northern Copper Zone2 Total Measured Indicated Measured Inferred NCZ– Garth Daniel – Deep Engine Zone (Jan-21) Mt % Zn % Pb % Cu g/t Ag g/t Au Mt % Zn % Pb % Cu g/t Ag g/t Au Mt % Zn % Pb % Cu g/t Ag g/t Au 0.45 2.38 1.27 0.52 53 0.48 9.38 0.38 0.24 1.27 5 0.1
Slide 32: Grängesberg – Resources & Reserves
GRÄNGESBERG – RESOURCES & RESERVES Indicated Mt % Fe %P Contained Fe (Mt) RESOURCES 115.2 40.2 0.78 46.3 Total Mt % Fe %P Contained Fe (Mt) Inferred 148.3 41.3 0.81 61.3 Mt % Fe %P Contained Fe (Mt) Notes 33.1 45.2 0.91 15.0 - Cut-off grade 20% Fe - Minimum mining with of 10m applied Probable RESERV
Slide 33: Contact Information
Amglesey Mining i- ——— ax é \ | CONTACT INFORMATION +44. 7531475111 rob.marsden@angleseymining.co.uk |