Slide 1: Tin for an Electric Tomorrow - $3.0m Placement
TIN FOR AN ELECTRIC TOMORROW For personal use only Investor Presentation - $3.0m Placement 05 April 2023
Slide 2: Cautionary statement
Cautionary statement 2 For personal use only This Presentation provides general background information about Elementos Limited’s (“Company’s”) activities. That information is current at the Of the Mineral Resources scheduled for extraction in the Study mine production plan, approximately 21% are cla
Slide 3: Tomorrow's tin
Tomorrow’s tin 3 Emerging tin developer on the cusp of defining and funding projects. For personal use only Elementos Limited (ASX:ELT) owns two world class tin projects with large resource bases and significant exploration potential in mining-friendly jurisdictions. Oropesa Project Cleveland Projec
Slide 4: Tin is the metal most impacted by electrification and new green technologies
Tin is the metal most impacted by 4 electrification and new green technologies. For personal use only electric vehicles advanced robotics renewable energy computers & IT energy storage Others Did you know? Tin • Tin is a key electrical contact in Lithium electronic circuits (solder), printed Cobalt
Slide 5: Tin price strength returns late in 2022 – strengthens during 2023
Tin price strength returns late in 2022 – strengthens during 2023 5 Fundamentals appear to be returning to an extremely tight and critical mineral market. For personal use only US$52.5k • LME tin spot prices briefly breached US$50k/t before Chinese COVID lockdowns and global recession fears pulled i
Slide 6: Tin market in deficit
Tin market in deficit 6 Global tin stockpiles remain close to record lows For personal use only Visible Global Tin Stockpiles2 • Tin market appears to be in 5th consecutive LME Tin stockpiles year of deficit 30,000 o Approximately 6,100 t during in 2021 25,000 • Global tin stockpiles remain critical
Slide 7: Current tin market supply
Current tin market supply 7 - No tin market supply growth in 10 years Existing Producers Stalling - Major producers struggling to maintain production levels Tin-in-Concentrate to 2021 ‘000 t3 For personal use only Major Global Tin Concentrate Producers (2021)3 100,000.0 35.00% 350,000 90,000.0 29.28
Slide 8: Yunnan Tin: supply of tin ore unlikely to increase significantly
Largest tin miner & refiner in the world | Yunnan Tin4: 8 “Supply of Tin Ore unlikely to increase significantly in next two years” For personal use only • On February 15 2023, Yunnan Tin Company Limited predicted that due to factors such as declining grades, mining technology limitations, and rising
Slide 9: Technology and green infrastructure is driving tin demand growth
Technology and green infrastructure 9 is driving tin demand growth For personal use only • The technology and green infrastructure solutions are driving global tin • Solar use of tin - solar Ribbon, junction boxes, PV electronics demand (growth rates forecast between 3-4%pa)5. • EV use of tin - powe
Slide 10: Tin market in deficit
Tin market in deficit 10 Global tin stockpiles remain close to record lows For personal use only Refined tin forecast6 Forecast tin deficit6 • Global tin demand is forecast to increase 3-4%pa to service the technology revolution. 550Kt 0 • 3-4%pa growth (vs. historic 1.8%pa) is forecast to cause tin
Slide 11: Environmental, Social and Governance (ESG)
Environmental, Social 11 and Governance (ESG) For personal use only Decisions to report on the Tin Code whilst still The Tin Code reflects leading ESG standards, including; a project developer • ISO (14001, 9001, 45001, 37001) • Established a plan with the International Tin • OECD Guidance for respo
Slide 12: Environmental, Social and Governance (ESG)
Environmental, Social 12 and Governance (ESG) For personal use only Elementos has additionally: 1 Established an ESG sub-committee of the Board of Directors. 3 Improved long-term relationships with the community and committed to the economic development of the mine via our application for the Oropes
Slide 13: Oropesa Tin Project, Spain
Oropesa Tin Project, Spain 13 DFS underway to deliver Europe’s first new significant tin mine by 2025. • Acquired in 2020 from Canadian listed company EuroTin. For personal use only SPAIN • Mining friendly, stable jurisdiction, close to European electronic manufacturing hubs Oropesa Tin Project • Gr
Slide 14: Oropesa secures government support
Oropesa secures 14 government support Key points For personal use only ✓ Andalucían Government assigns Oropesa to its Project Accelerator Unit to accelerate the effective start-up and execution of Oropesa On 9 March 2022, the Junta de Andalucia (Andalucían Government) ✓ The Project Accelerator Unit
Slide 15: Key project approvals submission
Key project approvals submission 15 Key documents, approvals sought and key departments For personal use only Mining • 6 April 2022 ELT subsidiary Minas de Licence Estaño de España (MESPA) submits Exploitation Solicitude Project key approval documents to the Junta de Andalucía Mining Department • Su
Slide 16: Mineral Resource Estimate update
Mineral Resource Estimate update 16 November 2021: MRE tonnage increased by 50% February 2023: MRE confidence increased with, 95% now classified as Measured & Indicated only the JORC Code 2012 on 14 February 2023 grade. This information was first disclosed under 9 All resources calculated using a 0.
Slide 17: 2023 Mineral Resource Estimate update
2023 Mineral Resource Estimate update 17 Increasing the MRE Confidence for the DFS For personal use only 2022 in-fill drilling program has resulted in such a high confidence 2023 Mineral Resource Estimate. • Achieved aim of upgrading all the Inferred Resources, that were located within the 2022 Opti
Slide 18: Oropesa remains prospective for additional tin & zinc mineralisation
Oropesa remains prospective for 18 additional tin & zinc mineralisation For personal use only Overall model boundaries depicting Company currently drilling the location of the eight 2023 shallow exploration drill holes at Oropesa Tin possible MRE extensions Project, Spain • Eight-hole (1,000m) explo
Slide 19: 2023 Exploration Drilling intersects semi-massive to massive sulphide mineralisation
2023 Exploration Drilling intersects semi-massive 19 to massive sulphide mineralisation in first planned hole For personal use only Further polymetric mineralisation Drill hole ADD_04 has returned two significant zones of polymetallic (Tin, Zinc and Copper) mineralisation 12: intersected outside Oro
Slide 20: Optimisation Study (2022)
Optimisation Study (2022) 20 High Level Summary $45K/t outline For personal use only Based on JORC Resources (Nov- 2021) 18.86Mt 0.40% Sn [75.4kt Sn] Out of pit dump US$30,000/t Pit Shell 82% conversion High density oak tree habitat Process plant Production Target (2022) 15.50Mt 0.37% Sn [56.8kt Sn]
Slide 21: Oropesa Optimisation Study – Mining Summary
Oropesa Optimisation Study – Mining Summary 21 Total LoM tin metal production 38,550t For personal use only Life of mine Tonnage averages Annual ore mined Annual ore sorter feed Annual processing Annual tin concentrate Annual tin metal production plant feed (62%) 1,250,000t 1,250,000t 1,000,000t 5,4
Slide 22: Optimisation Study Costs
Optimisation Key Costs Outputs 22 Study Costs C1, C2, C3 & All-In-Sustaining-Cost For personal use only (AISC) Summary Construction Capital US$86m Cost Area US$/tonne US$/tonne Low capital Clearing, Topsoil & Mining Preparation Sn Conc. $113 Sn Metal $180 cost Annual operating costs Mining $4,599 $7
Slide 23: Life of mine: mining and rehabilitation animation
Life of mine 23 Mining and rehabilitation animation For personal use only ✓ 1.5 years construction ✓ 13 years mining operations ✓ Full rehabilitation scheduled ✓ Basis of DFS ✓ Basis of mining licence and environmental approvals Video Link
Slide 24: Strong partners delivering DFS
Strong partners delivering DFS 24 The project has partnered with over 50 experienced and qualified local companies Driving success and ensuring strong local partnerships For personal use only Study & Project Leads Technical Partnerships Engineering Partners Site & Laboratory Contractors Environmenta
Slide 25: DFS Technical Programs
DFS Technical Programs 25 For personal use only Elementos has completed many 01 Pilot scale metallurgical test work feasibility development programs to 02 Geotechnical works program provide critical input data to its Oropesa Definitive Feasibility Study. 03 Hydrogeological (groundwater) works progra
Slide 26: DFS metallurgical test work successfully completed
DFS metallurgical test work successfully completed 26 Offtake discussions based on concentrate spec from pilot scale results ongoing For personal use only • Pilot-scale metallurgical test work confirms conventional and Pilot Plant Metallurgical Upgrade Results modern tin flowsheet for Oropesa Projec
Slide 27: Mineral Processing Plant Contract Awarded to Duro Felguera
Mineral Processing Plant Contract 27 Awarded to Duro Felguera (DF) For personal use only On 20 September 2022: Elementos has awarded Duro Felguera an Early Contractor Involvement (ECI) contract to Spanish Engineering, Procurement and Construction (EPC) contractor Duro Felguera to develop Oropesa Tin
Slide 28: Oropesa project timeline
Oropesa project timeline** 28 Definitive Feasibility Study commenced For personal use only 2H CY2021 1H CY2022 2H CY2022 1H CY2023 2H CY2023 Updated Mineral Resource Estimate Completion of resource drilling, modelling and estimation Optimisation Study Finalise the Basis of Design for DFS Confirm thr
Slide 29: Cleveland Tin Project, Tasmania
Cleveland Tin Project 29 Tasmania For personal use only • Cleveland Tin Project (100%-owned) located in Burnie mineral rich north-west Tasmania. • Operated as an underground mine by Aberfoyle Resources from 1968 to 1986. Cleveland Mine Kara (W, Fe) Tin & copper JORC resources1 Mt Bischoff (Sn) Indic
Slide 30: Historic Cleveland Underground Workings
Historic Cleveland Underground Workings Cleveland Tin Project 30 Tin / Copper Resource Tin, Copper and Tungsten For personal use only • Exploration Lease surrounded by existing critical infrastructure. • A Strategic Review has commenced to reassess the techno- economic possibilities of restarting th
Slide 31: Cleveland Tin Project: tungsten potential identified in hole C2119
Cleveland Tin Project 31 Tungsten potential further identified in hole C2119 For personal use only • Extended deeper beyond the Battery Lode (tin- copper) to test for potential extensions to the Foley’s Zone of tungsten Mineral Resource and Exploration Target. • A significant zone of visible wolfram
Slide 32: Cleveland Tin Project: fluorite potential confirmed
Cleveland Tin Project 32 Fluorite/Fluorspar potential confirmed within deposit For personal use only • Fluorite (aka. Fluorspar) is listed as a critical mineral by USA, Canada, Japan, China and the European Union. • Significant fluorite levels at Cleveland first confirmed during mineralogical analys
Slide 33: Our portfolio is critical
Our portfolio is critical 33 Tin, tungsten, zinc, copper, and fluorite in demand. For personal use only Economies where our minerals are listed as “critical”. The minerals in our portfolio are rated “critical” United States Tin Canada Tin European Union Tungsten China Tin Japan Tin by many major eco
Slide 34: Investment highlights
Tin for an electric tomorrow 34 Investment highlights For personal use only Tin commodity price strength has returned Total Mineral to support the project Resource Estimate economics. for Oropesa updated DFS being undertaken for DFS following infill 2023 tin prices are with strong study drilling. ba
Slide 35: Corporate overview
Corporate overview 35 For personal use only Share price Market capitalisation Shareholder distribution (Jan 2023) $A0.22c A$39.2m 31 Mar 2023 31 Mar 2023 Directors 52 week high $0.955, low $0.22 13% JM Financial Group 6% Shares on issue Cash 178.1m A$4.0m McCusker Holdings 5% 31 Dec 2022 31 Dec 2022
Slide 36: Strong Leadership
Strong Leadership 36 Our team has extensive experience in the mining and resources sector, including project acquisition, development and construction For personal use only Andy Greig Joe David Brett Smith Calvin Treacy Corey Nolan Non-Exec Chairman Managing Director Non-Exec Director Non-Exec Direc
Slide 37: Key offer information
Key offer information 37 For personal use only Offer structure and size Indicative timetable1 • Placement to professional and sophisticated investors to raise Trading halt and announcement of Monday, 3 approximately A$3 million within Elementos’ current placement capital raise April 2023 capacity un
Slide 38: Use of funds
Use of funds 38 For personal use only Proceeds from the Offer will be applied to: Uses • Support the completion of the Oropesa Tin Project Definitive Completion of the Oropesa Tin Project Feasibility Study (DFS), further project maturation, including; Definitive Feasibility Study (DFS), further proj
Slide 39: Key risks
Key risks 39 For personal use only Key risks Government Approvals Various third party approvals are required in order to advance the Company’s projects. Currently, the Company’s interest in the Oropesa Tin Project is held via an investigation permit and, in order to progress the project, the Company
Slide 40: Disclaimer
Disclaimer 40 For personal use only Forward-looking statements Competent Person Statement This document may contain certain forward-looking statements. Such statements are only predictions, based on certain The information in the report to which this statement is attached that relates to mining and
Slide 41: Get in touch
Get in touch For personal use only Joe David Elementos Limited Level 7, 167 Eagle Street Managing Director Brisbane Queensland 4000 +61 (0)7 2111 1110 Phone: +61 7 3212 6299 jd@elementos.com.au elementos.com.au