Nico Resources Limited · ASX:NC1
Nico Resources — Shareholder Meeting (November 2024)
27 slides from Nico Resources's shareholder meeting presentation, Nov 29, 2024
Slide 1: AGM Presentation - Wingellina Nickel-Cobalt Project
AGM PRESENTATION For personal use only WINGELLINA - A WORLD CL ASS NICKEL COBALT PROJECT WINGELLINA NICKEL-COBALT PROJECT NOVEMBER 2024 | ASX:NC1
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This investor presentation (Presentation) is dated November 2024 and has been prepared by Nico Resources Limited (ABN 80 649 817 425) (Nico or the Company). Summary Information The Presentation is based upon information available to the Company at the date of this Pre
Slide 3: Company Summary
COMPANY SUMMARY Board and Management Share Price Performance Relative Share Price Performance Peter Cook (Non-Executive Chairman) 0.6 2,000 Ardea Resources Centaurus Metals Sunrise Energy Metals Jonathan Shellabear (Managing Director/CEO) 1,800 Chalice Mining Alliance Nickel Nico Resources 0.5 Nicke
Slide 4: Introduction
INTRODUCTION • Wingellina is one of very few large-scale nickel development projects outside of Indonesia 1 • 1.56 Mt of contained nickel and 123kt of contained cobalt in probable reserves (168.4Mt at 0.93% Ni and 0.07% Co) • An oxide (limonite/goethite), high iron deposit (47% Fe203) with low magne
Slide 5: Wingellina Resources
WINGELLINA RESOURCES • The Wingellina nickel-cobalt oxide resource comprises two main north-westerly striking zones of limonitic and lesser saprolitic (elevated Mg) ore • Independent resource estimate undertaken by ERM Australia (formerly CSA Global) • MRE incorporated detailed geological, geochemic
Slide 6: A Globally Significant Project
A GLOBALLY SIGNIFICANT PROJECT 4,500,000 4.50 WORLD’S LARGEST UNDEVELOPED NICKEL PROJECTS (EX-INDONESIA) 4,000,000 4.00 3,500,000 3.50 3,000,000 3.00 For personal use only Contained Metal (Tonnes Ni Equiv.) 2,500,000 2.50 Ni Equiv. Grade (%) 2,000,000 2.00 1,500,000 1.50 1,000,000 1.00 500,000 0.50
Slide 7: Metallurgical Testwork Summary
METALLURGICAL TESTWORK SUMMARY • ALS Laboratories engaged to undertake bench scale metallurgical testwork1 • Objective is confirmation of selected pilot flowsheet • Ore preparation testwork (assay by size) • HPAL testwork to define optimium conditions (temperature, acid injection, ORP) • Primary Neu
Slide 8: Metallurgical Testwork Summary
METALLURGICAL TESTWORK SUMMARY For personal use only Most of the nickel is contained within the fine fraction which enhances leaching kinetics and requires limited grinding Rejection of course size fractions improves nickel grade and removes acid consuming minerals (gibbsite, magnesite and calcite)
Slide 9: Process Flowsheet
PROCESS FLOWSHEET For personal use only A simple HPAL flowsheet that is well understood 9
Slide 10: Processing Summary
PROCESSING SUMMARY • Project to utilise simplified and proven HPAL technology (now 5th Generation) to produce MHP. • Project supported by onsite acid plant for the creation of sulphuric acid with an energy by-product – around 50% of power requirements by co-generation. • ROM ore will be screened, ov
Slide 11: Infrastructure Summary
INFRASTRUCTURE SUMMARY • Logistics are a key focus – upgrading and sealing of Outback Way is a major benefit to the project • Two logistics options either through the Port of Darwin or Esperance • Esperance is the shorter route • Transport of materials is a key cost (around $0.65/lb of nickel produc
Slide 12: Government & Stakeholder Engagement
GOVERNMENT & STAKEHOLDER ENGAGEMENT Traditional Owners • In July 2010, Hinckley Range, a subsidiary of Nico, signed a landmark mining agreement with the Traditional Owners and the granted Native Title holders of the Project. The agreement was registered as an Indigenous Land Use Agreement in October
Slide 13: Wingellina Project Investment Highlights
WINGELLINA PROJECT INVESTMENT HIGHLIGHTS • The Wingellina Project is a world class, globally significant project - one of very few outside of Indonesia – with significant comparative advantages when compared to other undeveloped projects • The PFS outlined an economic project characterised by: • Rob
Slide 14: Comparative Valuation Snapshot
COMPARATIVE VALUATION SNAPSHOT Nico’s Wingellina project has the largest reserve and highest grade of all comparative companies and quality ore (oxide-type nickeliferous limonite) Project Comparable Values 2,000,000 2.00 $0.030 Note: Bubble size is reserve size of contained nickel equivalent (nickel
Slide 15: Appendices
For personal use only APPENDICES 15
Slide 16: Comparison Deposit Data - Appendix
COMPARISON DEPOSIT DATA – APPENDIX 1 Project Company Location Tonnes Ni Grade (%) Co Grade (%) Cu Grade (%) PGM Grade (g/t) Ni Eq. Grade (%) Source Documents Canada Nickel, Crawford Nickel Sulphide Project NI 43-101 Technical Crawford Canada Nickel Ontario, Canada 1,715,000,000 0.22 0.01 0.00 0.02 0
Slide 17: Company Directors - Appendix
COMPANY DIRECTORS – APPENDIX 2 Peter Cook Jonathan Shellabear Roderick Corps Stewart Findlay Brett Smith BSc (Geology), MSc (Mineral Economics) BSc (Hons) (Geology), MBA, FAusIMM B.Comm B.Chem Eng, MBA, M Res Methodology Non-Executive Chairman Managing Director and Chief Executive Non-Executive Dire
Slide 18: Senior Company Management - Appendix
SENIOR COMPANY MANAGEMENT – APPENDIX 2 Amanda Burgess Fergus Kiley Francois Schmid Len Glumac BEcon, CPA BSc, Geology (Hons) BEng (Hons) (Chemical) B. Eng (Chemical) Company Secretary General Manager - Operations Head of Process Engineering Principal Process Engineer Ms Burgess is an accounting and
Slide 19: Senior Company Management - Appendix
SENIOR COMPANY MANAGEMENT – APPENDIX 2 Matt Jones Max Maczurad Frank Raschella Kim Pervan BSc, Geology (Hons) BSc (Geology) B.Eng (Mechanical) BA, FPRIA Head of Geology Senior Project Geologist Principal Mechanical Engineer Stakeholder Manager Mr Jones is a geologist with 20 years’ Mr Maczurad has b
Slide 20: Nickel Laterite Deposit Styles - Appendix
NICKEL LATERITE DEPOSIT STYLES – APPENDIX 3 WA Goldfields Coral Triangle Wingellina Laterite Laterite Laterite Ferricrete 2 to 10 metres Limonite Ni (%) Mg (%) Fe2O3 (%) Ni (%) Mg (%) Fe2O3 (%) Ni (%) Mg (%) Fe2O3 (%) 0.6 - 1.4 1.5 - 2.5 35 - 45 1.0 - 1.7 1.0 - 4.0 45 0.8 - 1.5 1.5 - 2.5 40 - 50 Hig
Slide 21: Nickel Supply Chain - Appendix
NICKEL SUPPLY CHAIN – APPENDIX 4 Sulphide Pyrometallurgical Flow Sheet Sulphide Hydromet Laterite Flow Sheet Legend Sulphide ores typically Flow Sheet occur as economically Sulphide Ore | Ni-Cu-Co-PGE Limonite Ore | Ni-Co-Mn Saprolite Ore | Ni-Co-Mn Ore sources viable in-situ grades POX of between 1
Slide 22: PFS Key Consultants and Contributors - Appendix
PFS KEY CONSULTANTS AND CONTRIBUTORS – APPENDIX 5 For personal use only 22
Slide 23: PFS Economic Highlights - Appendix
PFS ECONOMIC HIGHLIGHTS – APPENDIX 5 Robust financial and investment metrics for both Base Case and Spot Case Base Case Spot (at the time of PFS release) Assumptions WoodMac / S&P MI (Blend) Nickel price1 US$30,000/t US$21,472/t For personal use only WoodMac / S&P MI (Blend) Cobalt price1 US$50,995/
Slide 24: Wingellina Opex & Capex Summary - Appendix
WINGELLINA OPEX & CAPEX SUMMARY – APPENDIX 5 Low operating costs producing strong cash operating margin and payback of capital within 4 to 5 years Area Description1 AUD/t USD/t USD/lb Area Description AUD M’s USD1 M’s Mining 632.4 423.7 0.19 Processing Plant $812.98 $544.70 Process Plant 8,369.7 5,6
Slide 25: Project Resources and Reserves - Appendix
PROJECT RESOURCES AND RESERVES – APPENDIX 7 Classification Tonnes Ni Grade (%) Co Grade (%) Fe2O3 Grade (%) MgO Grade (%) Ni Metal (k tonnes) Co Metal (k tonnes) Measured Indicated 164,100,000 0.93 0.06 42.8 3.3 1,531 98 Inferred 23,300,000 0.72 0.03 23.0 8.6 166 7.3 Total 187,300,000 0.91 0.06 40.3
Slide 26: Wingellina Project History - Appendix
WINGELLINA PROJECT HISTORY – APPENDIX 8 • The first deposits of nickel oxides in the Musgrave Block were discovered in the Mt. Davies area by South Australian Government geologists in 1954. International Nickel Company (“Inco”) identified that the regional geology was similar to the Sudbury deposit
Slide 27: Contact Details
For personal use only Contact Details Jonathan Shellabear (Managing Director and Chief Executive Officer) Level 6, 190 St. Georges Terrace, Perth, Western Australia jonathan.shellabear@nicorresources.com.au 27