Slide 1: Oropesa Tin Project DFS & Ore Reserve Presentation - Updated
Elementos Limited Level 7, 167 Eagle St ABN 49 138 468 756 Brisbane Queensland 4000 ASX: ELT Phone +61 (0)7 2111 1110 elementos.com.au admin@elementos.com.au 28 April 2025 Oropesa Tin Project DFS & Ore Reserve Presentation - Updated Elementos Limited (Elementos) refers to its announcement dated 22 A
Slide 2: Delivering Europe's only mine-to-metal tin supply
For personal use only Delivering Europe's only mine-to-metal tin supply Oropesa Tin Project DFS & Ore Reserve Investor Presentation April 2025 ASX:ELT elementos.com.au
Slide 3: Cautionary Statement
Cautionary Statement. ASX:ELT This Presentation provides general background information about Elementos Limited’s (“Company’s”) activities. That information is current This Presentation contains a series of forward-looking statements and forecast financial information. The words “expect”, “potential
Slide 4: Rare and unparalleled exposure to tin metal
Elementos Limited (ASX:ELT) gives investors a ASX:ELT rare and unparalleled exposure to tin metal Offering Investors a unique opportunity: Cleveland Project For personal use only 1. Exposure to tin, a critical base metal with Tasmania, Australia un-substitutional properties for electrical Mine Statu
Slide 5: Major upcoming value drivers
Exploration Upside Elementos (ASX:ELT) Construction & Operations ASX:ELT Further exploration major upcoming value drivers extensions & FID Construction regional Final Permits Investment & Oropesa Tin Project Primary Smelter Decision Operations For personal use only ‘Nearing the development Finish Li
Slide 6: Only integrated mine-to-metal tin project in development within the EU
Oropesa is the only ASX:ELT Manufacturers across integrated mine-to-metal tin Europe are seeking non- conflict, responsibly project in development sourced and secure supplies of tin to produce: within the European Union. For personal use only Electrical 51% solder This unique supply-chain will provi
Slide 7: Advancing strategy to mine, smelt and sell high quality tin ingots
Advancing strategy to mine, ASX:ELT smelt and sell high quality tin ingots into the European market entirely from Spain. For personal use only • Tin ingots delivered in Europe attract a significant price premium (~US$950-US$1,000/t) above LME spot price. • Fully aligned with the strategic and politi
Slide 8: Definitive Feasibility Study confirms robust project design and economics
Definitive Feasibility Study ASX:ELT Market cap# vs Oropesa DFS NPV8% comparison confirms robust project design and economic outcomes.* NPV8 A$270M Market For personal use only Based on a reference *Refer ASX Release dated 4 April 2025 Oropesa Tin Project: Definitive Feasibility Study (DFS) Results
Slide 9: DFS NPV8% shows significant tin price upside
DFS NPV8% shows ASX:ELT Oropesa DFS NPV8% (vs ELT market capitalization) at variable referenced tin prices significant tin price ^London Metals Exchange (LME) Tin Official Prices, Cash offer, 2 April 20205 lme.com/tin A$825M at consensus > price * LT Consensus = Long-term consensus pricing reference
Slide 10: DFS tin production cash costs confirm competitive operating cost basis
DFS tin production ASX:ELT US$/tonne US$/tonne US$/tonne Cost Area US$ million cash costs confirms a ROM Ore Sn Conc. Sn Metal competitive operating Clearing, Topsoil & Mining Preparation $595,537 $0.04 $9 $15 cost basis. For personal use only Mining $250,715,680 $15.71 $3,958 $6,267 The Operating C
Slide 11: DFS capital costs estimated at €149.3M
DFS capital costs estimated at ASX:ELT DFS capital cost estimate EUR€ US$ A$ €149.3M (inc.10.4% contingency). Mining (inc Pre-Strip) 18.3 19.2 31.8 The Capital Cost Estimate has been developed Process Plant 45.2 47.5 78.6 For personal use only through mature design, clear scopes, distinct packaging
Slide 12: Project layout design
Project layout ASX:ELT design. Responsible, matured For personal use only and fully-costed. • Highly mature level of design & compliance. • Low level of external 11 disturbance, external facilities targeted at low disturbance areas. • Responsible approach to all aspects, including; water, trees, noi
Slide 13: Integrated site 3D designs
Integrated site 3D designs ASX:ELT Masterplan modelling ensures efficient design and interaction of major and minor packages. For personal use only 3D-Modelled areas: Open Pit, waste dumps, haul roads, ROM pad, civil pads, crushing, screening and 12 material handling infrastructure, stockpiles, ore
Slide 14: Oropesa is one of the few tin developers with an Ore Reserve
Oropesa is one of the few tin ASX:ELT Maiden Ore Reserve^> developers with an Ore Reserve and the only project in Europe Maiden Ore Reserve^> For personal use only Maiden Ore Reserve Estimate Contained Tin Metal Total Total 15.90Mt 57,894t 0.36% Sn 0.36% Sn 38% 62% 13 Mineral Resources*> 76% convers
Slide 15: Oropesa will observe the highest environmental benchmarks
Oropesa will observe the ASX:ELT The entire operations has been efficiently highest environmental designed to achieve responsibility goals benchmarks in construction, above the requirements of applicable operations and rehabilitation. legislations For personal use only • Compact pit and dump designs
Slide 16: Partnerships with community and industrial partners
Elementos continues to form strong ASX:ELT Partnerships with key partners and partnerships with community with stakeholders industrial partners. Andalucia Government maintains it’s support for the Administration Smelting Partner For personal use only Oropesa tin project, reaffirming its position in
Slide 17: The Cleveland tin mine continues to prove-up more minerals
The Cleveland tin mine ASX:ELT continues to prove-up more base, precious and critical minerals For personal use only 100%-owned historical mining operation in mineral rich north-west Tasmania. • Operated as underground tin (and by-product copper) mine for 27-years. Current Mineral Resources include:
Slide 18: Large set of tin, copper and tungsten Resources & Reserves
Large set of tin, copper and ASX:ELT tungsten Resources & Reserves already defined For personal use only 1All resources calculated using a 0.35% Tin cut-off Tin & Copper JORC Resources1 grade. This information was first disclosed under the JORC Code 2012 on 31 July 2018. Indicated Inferred Total 6.2
Slide 19: 2024 greatly expanded Cleveland's prospectivity
2024 greatly expanded ASX:ELT Cleveland’s prospectivity For personal use only 1. Shallow copper, gold, silver, zinc, tin target currently beingg drilled 2. Further tin & copper 18 intersection identified outside of Mineral Resource 3. Over 465m of Tungsten & Critical Mineral targets confirmed
Slide 20: 2025 drilling underway targeting copper, gold & silver
2025 drilling underway is ASX:ELT targeting copper, gold & silver. Shallow target drilling underway at 100%- owned Cleveland Tin mine in Tasmania. For personal use only • 3 x ~200m drill holes testing for extensions to the high-grade copper-gold intersection recovered in hole C2123 in 20244 followin
Slide 21: The tin market remains supply constrained
The tin market remains ASX:ELT 14-years of Global Production to 2024 supply constrained, after Tonnes of contained tin-in-concentrate years of 350,000 underinvestment. For personal use only Major tin suppliers are struggling to 300,000 meet historic volumes - magnified by constant supply disruptions
Slide 22: Supply constraints continue to drive tin prices
Supply constraints ASX:ELT LME & SHFE Cash/Spot Tin Prices continue to drive tin prices US$/tonne despite only moderate tin US$40.0k demand growth due to For personal use only global inflationary SHFE US$31,690/t 21 APRIL 2025 US$37.5k pressures. US$35.0k Tin prices have shown steady growth US$32.5k
Slide 23: Team delivering multibillion dollar mining projects
Our team has delivered multibillion dollar ASX:ELT mining and natural resource projects around the world. For personal use only 22 Andy Greig Joe David Calvin Treacy Corey Nolan Non-Exec Chairman Managing Director Non-Exec Director Non-Exec Director As Bechtel Australia’s former Managing Director, J
Slide 24: Corporate overview
Elementos Limited (ASX:ELT) ASX:ELT Corporate overview For personal use only Share price Market capitalisation (undiluted) Major shareholders (October 2024) ANDY GREIG (ELT CHAIRMAN), 19.9% A$0.079 A$18.7M 17 April 2025 17 April 2025 52 week high $0.18, low $0.05 23 Shares on issue Cash GOM PROPERTI
Slide 25: Disclaimer
Disclaimer. ASX:ELT Competent Person Statements For personal use only The information in this Presentation that relates to Mineral Resources for the Cleveland Project has been extracted from the Company’s ASX Announcement on 30 August 2024 “Cleveland tungsten mineralisation updated”. The information
Slide 26: Connect with us
Elementos Ltd Level 7, 167 Eagle Street ASX:ELT ABN 76 075 103 221 Brisbane Queensland 4000 ASX:ELT Phone: +61 7 3212 6299 Connect For personal use only with us. 25 Joe David Managing Director eNews jd@elementos.com.au Join the conversation Follow us Subscribe to our e-news: www.x.com/ElementosTin w
Slide 27: Appendix-A: Oropesa Mineral Resource Estimate & Maiden Ore Reserve Tables
Appendix-A: Oropesa Mineral Resource Estimate4 & ASX:ELT Maiden Ore Reserve Tables19 For personal use only OROPESA TIN PROJECT FEB-2023 MINERAL RESOURCE ESTIMATE4 Resource Classification Sn% Resource Tonnes Contained Tin Metal (tonnes) MRE Contribution (%) Measured 0.36 7,418,212.0 26,800.5 38% Indi
Slide 28: Appendix-B: DFS Reference Tin Prices, Consensus Pricing, Spot Pricing
Appendix-B: DFS Reference Tin Prices, Consensus Pricing, Spot Pricing For personal use only