Aurelia Metals Limited · ASX:AMI
Aurelia Metals — H1 FY21 Earnings Presentation
31 slides from Aurelia Metals's earnings presentation, Feb 25, 2021
Slide 1: Aurelia Metals H1 FY21 financials
~~ aurelia METALS Ltd. Aurelia Metals H1 FY21 financials ASX: AMI This presentation has been approved for release by the Board of Directors of Aurelia Metals
Slide 2: Forward looking statements
Forward looking statements This presentation has been prepared by Aurelia Metals Limited ("AMI" or the “Company’). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those
Slide 3: H1 FY21 financial results
aurelia METALS Ltd. H1 FY21 financial results
Slide 4: Underlying net profit after tax
• • • • • • 1. Underlying net profit after tax
Slide 5: H1 FY21 financial result snapshot
H1 FY21 financial result snapshot auretia “- METALS Led. als Earnings Revenue EBITDA Underlying EBITDA EBITDA Margin Underlying EBITDA Margin Statutory NPAT Underlying NPAT Basic earnings per share Cash Flow Operating Mine Cash Flow Net Mine Cash Flow Group Cash Flow units ASM ASM ASM % % ASM ASM cp
Slide 6: Revenue drivers
Revenue drivers Realised price benefits across all metals * Higher prices achieved on all metals, with gold delivering the biggest benefit = Majority of higher sales volumes gains from Peak zinc output = Benefits from Peak Pb / Zn circuit upgrade demonstrated strongly * — Realisation costs impacted
Slide 7: Net Profit drivers
Net Profit drivers Strong underlying NPAT flowing from revenue benefits and cost efficiencies = Underlying NPAT up 164% to A$41.1M, excl. transaction & integration costs = 28% increase in development metres at Peak accounts for majority of increased mining costs = Higher processing and transport cos
Slide 8: Cash Flow drivers
Cash Flow drivers Strong cash flow generation ; Cash Flow Waterfall Analysis (A$M) 100 = Balance date net cash position of A$52.6M 60 Dargues Investment (excluding A$8.2M right of use leases) (30 bss) June 2019: A$79.1M) 80 a (17.3) . stern ain Hi 418 = Combining investment in growth and 70 si guty
Slide 9: Current year outlook
aurelia METALS Ltd. Current year outlook
Slide 10: FY21 guidance
FY21 guidance Recently updated with lower expected AISC and inclusion of Dargues FY21 group updated FY21 Dargues FY21 group updated COROT (incl Dargues) (17 Dec 20-30 Jun 21) (excl Dargues) (2 teu p ae FY20 group actual Gold (koz) 100 - 113 20-23 80-90 80-90 92 Lead (kt) 21.9- 24,4 - 21.9- 24.4 21.9
Slide 11: Kairos on track
Kairos on track Mining of high grade Peak ore source set to commence = Development and ventilation of Kairos orebody in full swing = — First stoping ore from Kairos expected early June 21 quarter = Significant, high grade ore source (with strong gold tenor) = Extensional and depth repeat upside to K
Slide 12: Federation Project update
aurelia METALS Ltd. Federation Project update
Slide 13: Updated Federation Resource
—wsw ENE—> Updated Federation Resource Supported by nearly 55,000m of drilling = Updated Federation MRE: 3.5Mt at 5.5% Pb, 9.8% Zn, 1.4g/t Au, 7g/t Ag & 0.3% Cu" = 35% increase in tonnage (+0.9Mt) and 134% increase in contained gold (+91koz) = Outstanding polymetallic-equivalent average grade of 19.
Slide 14: High-grade gold zones
High-grade gold zones Growing gold endowment and tenor = Mineralised resource outline ranges from 25m to 550m depth = Exceptional high-grade gold results from ongoing drilling including: - 21.6m @ 31.9g/t Au & 44.8% Pb+Zn & 1.6% Cu - 20.5m @ 17.4g/t Au, 44.4% Pb+Zn & 1.3% Cu - 25.5m @ 11.4g/t Au, 37
Slide 15: Scoping Study update
Scoping Study update On track for completion during March 2021 quarter = Progressing well across multiple workstream areas = Conceptual underground mine design, development sequence and production schedules prepared for throughput rate scoping = Metallurgical test work supports a gravity gold circui
Slide 16: Dargues acquisition
aurelia METALS Ltd. Dargues acquisition
Slide 17: Dargues integration
Dargues integration Transition well advanced and platform set = Currently in operational ramp-up phase = Expected to produce an average of 45 - 55koz gold p.a. at average AISC of A$1,150 - 1,350/oz over the next 5 years! = On-strategy acquisition: addition of a third strategic asset, reweighted port
Slide 18: Ramp-up progress
Ramp-up progress Increasing ore volumes and gold output through 2H FY21 Key Dargues Operational Parameters = Process plant is fully operational = Aurelia to drive continued ramp-up of the « Ore Mined _ Ore Gracie Processed underground mine to full targeted rates of: 180 — : = eo 500 - 400 metres per
Slide 19: Upside capture
Upside capture Engage substantial exploration potential and life extension optionality = — Existing resources constrained by volume and density of drilling = Strong likelihood of extensions to the Dargues deposit, both along strike and at depth = Targeted drilling program has commenced = Plan to app
Slide 20: Strategy drivers
aurelia METALS Ltd. Strategy drivers
Slide 21: Key strategic value drivers
Key strategic value drivers auretia “S- Es current operations Progression
Slide 22: Y0 Y1 Y2 Y3
400 400 350 350 300 300 250 250 200 200 150 150 100 100 50 50 0 0 Y0 Y1 Y2 Y3
Slide 23: Progression
Progression Targeted, returns-focused extension of strategy beyond existing assets = Leverage off a strategic asset base in the Cobar Basin and NSW = Maximise returns via life extensions and operating discipline driving margin = Growth profile underpinned by financial discipline and tension for the
Slide 24: Aurelia
aurelia METALS Ltd.
Slide 25: Summary
Summary auretia “S- I
Slide 26: Corporate snapshot
Corporate snapshot Major shareholders Mitsubishi UFJ Eley Griffiths Perennial Value Platypus Colonial First State Shareholder register composition = Australian institutions m International institutions = Other <3 auretia ‘ METALS Led. ASX: AMI Share price (17 February 2021) A$0. 40 Shares on issue 1
Slide 27: The Aurelia portfolio
The Aurelia portfolio Three cashflow producing assets concentrated in NSW with a focus on gold eak Production FY20A. 47 Production FY21F 58 - 64 AISC FY20A 1,737 AISC FY21F 1,000- 1,150 Ore Reserves! 247 NEW SOUTH Reserve grade 2.3 WALES Mineral Resources! 537 7 Resource grade 1.5 Cobar ees me bu D)
Slide 28: Investing in business sustainability
Investing in business sustainability Durability and longevity essential for value creation Safety Aurelia Metals - Safe Metals program Driving a 50% reduction in TRIFR over 2 years Certainty in the controls for fatal hazards Environment Aurelia Metals - Green rules program Certainty in the controls
Slide 29: Contact
Contact Telephone: +61 7 3180 5000 Email: office@aureliametals.com.au Level 17, 144 Edward Street BRISBANE QLD 4000 GPO Box 7 BRISBANE QLD 4001 aureliametals.com.au aurelia METALS Ltd. +
Slide 30: Appendix: Ore Reserves
Appendix: Ore Reserves Peak (30 June 2020) Tonnes | NSR Au Cu zn Ag cies ten La | | | a | Hera (30 June 2020) Tonnes NSR Au zn Ag i Proved 339 169 1.1 18 0.4 07 12 Proved 183 Probable 2,992 251 24 0.8 3.0 3.2 7 Probable 555 187 14 3.0 48 49 Total 3,331 243 2.3 0.9 2.8 2.9 16 Total 1,197 185 1.4 3.0
Slide 31: Appx: Mineral Resources
Appx: Mineral Resources Peak (30 June 2020) Tonnes Au Cu Pb zn Ag ee Measured 1,749 1.8 Indicated 6,538 1.6 1.2 1.5 17 1 Inferred 3,065 1.0 18 0.3 0.4 7 Total 11,351 1.5 1.4 1.0 1.2 10 Hera (30 June 2020) Tonnes Au Pb Zn Ag il Dargues (15 March 2017) Tonnes Au Au Measured 113 Indicated 740 74 175 In