Boab Metals Ltd · ASX:BML
Boab Metals — Investor Presentation (April 2021)
33 slides from Boab Metals's investor presentation, Apr 29, 2021
Slide 1: Investor Presentation
For personal use only A Base and Precious Metals Company Focussed on the Development of the Sorby Hills Project Investor Presentation 29 April 2021
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Compliance Statement For personal use only Certain statements in the presentation are or may be “forward-looking statements” and represent the The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Company’s int
Slide 3: Investment rationale
Investment rationale For personal use only Australia’s largest undeveloped, near- Impressive Project Economics Rare ASX exposure to Silver markets surface Lead-Silver deposit Pre-Tax NPV8 A$303m, Pre-Tax IRR 46%, ~1.6- Sorby Hills 54 Million Ounce Silver Resource2 is Granted mining leases, EPA appro
Slide 4: Board and management
Board and management For personal use only Experienced Board and Management with a proven track record in exploration and development. Gary Comb Simon Noon Richard Monti Andrew Parker Chairman Managing Director and CEO Non-Exec. Director Non-Exec. Director Engineer with over 30 years’ Experienced ex
Slide 5: Corporate summary
Corporate summary For personal use only Capital structure (as at 26 April 2021) PFS Confirmed a Strong Low-Risk Base Metal Project Share Price A$0.41 / share with Very Significant Silver Exposure Shares on Issue 152 million shares 475,223 t Payable Lead Market Cap A$62.3 million A$1.4 Billion Revenu
Slide 6: PFS highlights
PFS highlights For personal use only The Sorby Hills PFS released in August 2020 highlights a technically robust project with impressive economics The PFS highlights the low-risk nature of the Sorby Hills Project with a well-defined large-scale Mineral Resource, conventional crush-mill-float process
Slide 7: Project highlights
Project highlights For personal use only Sorby Hills Lead-Silver-Zinc Project Australia’s largest undeveloped, near-surface Lead-Silver-Zinc deposit. • 75%/25% Joint Venture Partnership with China’s largest Lead smelter and Silver producer, Henan Yuguang Gold and Lead Co. Ltd. • Granted pre-native t
Slide 8: High quality Mineral Resource estimate
High quality Mineral Resource estimate For personal use only Large shallow gently dipping Resource with well defined geology Image: Long section looking west through the Sorby Hills Resource Grade Contained Metal Deposit Mt Pb Ag Pb Eq. Zn Pb Ag Pb Eq. Zn % g/t % % kt koz kt kt Total 44.9 3.2 37 4.3
Slide 9: Low-risk Project with significant scope for growth
Low-risk Project with significant scope for growth For personal use only A low-risk Mine Plan underpinned by Conventional processing route producing a 92% Ore Reserves high-quality concentrate • Single stage crush and semi-autogenous grinding (SAG) followed by Sulphide and Ore Pb (%) Pb (kt) Ag (g/t
Slide 10: Effective and efficient Resource definition
Effective and efficient Resource definition For personal use only High impact drilling to maximise the value extracted from the Sorby Hills deposit • The Sorby Hills Mineral Resource is a function Growth and classification of Contained metal within the Sorby Hills Mineral Resource of Boab’s demonstr
Slide 11: Opportunity to increase Sorby Hills mining inventory
Opportunity to increase Sorby Hills mining inventory For personal use only Image: Selected Cross-Sections through the Omega Deposit showing extensions to the Sorby Hill Mineral Resource identified during the Phase V drilling program • Results from the recently completed Phase IV drill program not on
Slide 12: Potential increase in mine size
Potential increase in mine size For personal use only Results of the Phase V drill program together with the ongoing DFS Metallurgical program will act as inputs to an investigation into the potential increase mine life and expand the proposed processing capacity at Sorby Hills The Sorby Hills PFS M
Slide 13: Near mine drilling targets
Near mine drilling targets For personal use only High quality near mine drilling targets • Further drilling is expected to confirm continuity between Norton and Omega deposits. • Four wildcat drillholes in 2018 intersected continuous shallow mineralisation. Follow up diamond drilling included as par
Slide 14: Regional exploration potential
Regional exploration potential For personal use only Eight Mile Creek - Exploration Licence E80/5317 • 100% owned by Boab Metals. • High resolution gravity survey completed over the northern half of • Covers 217 km2 of relatively E80/5317 and data is currently underexplored tenure immediately being
Slide 15: Sorby Hills JV partnership
Sorby Hills JV partnership For personal use only Boab (75% interest) Henan Yuguang Gold and Lead Co., Ltd (25% contributing interest) • Very positive meetings have been held with Joint Venture partner Henan Yuguang Gold and Lead Co., Ltd (“Yuguang”), the largest Lead smelting company and Silver prod
Slide 16: Project financing
Project financing For personal use only Boab is well progressed on preparing the Sorby Hills Project for project financing • Boab has engaged BurnVoir Corporate Finance to advise on, analyse and arrange a project finance solution for the Sorby Hills Project. • The Company has engaged with Australia
Slide 17: Sorby Hills concentrate offtake
Sorby Hills concentrate offtake For personal use only Preliminary Soundings with Tier-1 offtakers have confirmed a strong appetite for the Sorby Hills concentrate • Boab has held preliminary soundings with a select group of potential local and offshore customers for the Sorby Hills Lead-Silver Conce
Slide 18: The Silver & Lead Markets
For personal use only The Silver & Lead Markets Boab Metals Limited ASX:BML 18
Slide 19: Lead and Silver in the clean energy economy
Lead and Silver in the clean energy economy For personal use only Lead Silver Lead batteries are a key in the transition Silver’s industrial applications, particularly to a low carbon economy, applications in emerging green industries, provides a include: supply-demand overlay to the traditional sto
Slide 20: Exposure to the silver market
Exposure to the silver market For personal use only The recent surge in the price of Silver has been reflected in Boab’s share price demonstrating the significance of the precious metal in the value of Sorby Hills The Sorby Hills Mineral Resource Estimate of 44.9Mt at 3.2% Pb, 37 g/t Ag and 0.5% Zn
Slide 21: Undeveloped ASX Listed Silver Resources located in Australia
Undeveloped ASX Listed Silver Resources located in Australia For personal use only Sorby Hills’ 54 Million Ounce Silver Resource is among the largest undeveloped Silver Resources located in Australia 200 Contained Silver Ounces (Millions) 150 100 Sorby Hills 50 - SVL-ASX MCT-ASX RDM-ASX BML-ASX TGN-
Slide 22: Next Steps
For personal use only Next Steps Boab Metals Limited ASX:BML 22
Slide 23: Development timeline providing significant newsflow
Development timeline providing significant newsflow For personal use only On track to become a significant West Australian Lead-Silver producer in 2023 ✓ Support Received from Export Finance Australia ✓ Preliminary Offtake Soundings demonstrate strong demand for Sorby Hills Concentrate ✓ Completion
Slide 24: Thank you
For personal use only Thank you Simon Noon – Managing Director info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals
Slide 25: Appendix
For personal use only Appendix 25
Slide 26: PFS capital and operating costs
PFS capital and operating costs For personal use only Capital Cost Estimate Operating Cost Estimate1 Capital Item A$M Cost Centre A$M A$/t ore A$/lb2 US$/lb2 Pre Production Mining 24.3 Mining 347 23.48 0.33 0.23 Process Plant incl. EPC fee 105.4 Processing 292 19.80 0.28 0.20 Infrastructure 20.5 G&A
Slide 27: PFS life of mine metrics
PFS life of mine metrics For personal use only Item Unit Base Case Item Unit Base Case Economic Assumptions Cash Flow Lead Price US$/t 2,095 Lead Revenue A$M 1,422.3 Silver Price US$/oz 21.10 Silver Revenue A$M 431.1 Exchange Rate A$:US$ 0.70 Gross Revenue A$M 1,853.3 Physicals Royalties A$M (69.5)
Slide 28: Mineral Resource Estimate - April 2021
Mineral Resource Estimate - 6 April 2021 For personal use only Grade Contained Metal Deposit Mt Pb Ag Pb Eq. Zn Pb Ag Pb Eq. Zn % g/t % % kt koz kt kt A 0.6 5.1 22 5.7 0.9 30 411 34 5 B 2.3 3.9 22 4.5 0.3 91 1,608 105 7 Omega 16.6 3.4 34 4.3 0.4 560 18,233 718 69 Norton 20.0 2.7 36 3.7 0.4 545 23,06
Slide 29: Current ore Reserve and PFS mine plan
Current ore Reserve and PFS mine plan For personal use only A low-risk Mine Plan underpinned by 92% Ore Reserves PFS Mining Schedule Ore Pb (%) Pb (kt) Ag (g/t) Ag (Moz) 1,200 6.0% 120 Classification Mt % kt g/t Moz 1,000 5.0% 100 Proved 6.8 4.1 275 53.0 11.5 800 4.0% 80 Silver Grade (g/t) Probable
Slide 30: Metallurgy and processing
Metallurgy and processing For personal use only Production Summary PFS Processing Schedule 500 10.0% 100 Plant Process Crush, Grind and Float 400 8.0% 80 Plant Throughput 1.5Mt p.a. '000 tonnes Silver Grade (g/t) 300 6.0% 60 Lead Grade (%) Average Feed Grade 3.6% Lead, 39.5 g/t Silver 200 4.0% 40 Av
Slide 31: Metallurgy and processing – DMS Option
Metallurgy and processing – DMS Option Optional DMS Circuit For personal use only Optional Dense Media Separation circuit to enhance project economics The PFS considered an alternative processing option whereby low-grade ore is beneficiated via a parallel Dense Media Separation (DMS) circuit to prod
Slide 32: Peer Comparison Supporting Information
Peer Comparison Supporting Information For personal use only Measured Indicated Inferred Total Primary Ticker Project Stage Source Metal Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz SVL-ASX Bowdens Feasibility Complete Silver 76.0 45 111 29.0 31 29 23.0 31 23 128.0 40 163 2020 AGM Presentation 27 Nov
Slide 33: Equivalent calculation
Equivalent calculation For personal use only The contained metal equivalence It is Boab’s opinion that all elements Metal equivalents are highly dependent on the included in the metal equivalent calculation metal prices used to derive the formula. Boab formula is based on the Sorby Hills notes that