Boab Metals Ltd · ASX:BML
Boab Metals — Investor Presentation (August 2024)
28 slides from Boab Metals's investor presentation, Aug 5, 2024
Slide 1: Moving the Sorby Hills Lead-Silver Project Toward Production
Moving the Sorby Hills Lead-Silver Project For personal use only Toward Production A near-term producer with a margin highly leveraged to the Silver Price boabmetals.com Corporate Presentation August 2024 Delivering metals for a sustainable future. Corporate Presentation August 2024
Slide 2: Disclaimer
2 Disclaimer Forward-Looking Statements Compliance Statement For personal use only Certain statements in the presentation are or may be “forward-looking statements” and The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore represent the Company’s intentions, projectio
Slide 3: Corporate Summary
3 Boab Metals Corporate Summary Share Price History 3.0 0.30 For personal use only Capital Structure (2 August 2024) 2.5 0.25 Share Price Debt Volume (M Shares) Share Price (A$/sh) 2.0 0.20 A$0.094 /share Nil 1.5 0.15 Shares on Issue Cash 1.0 0.10 234 million shares A$5.7 million1 30 June 2024 0.5 0
Slide 4: A near term producer of Lead and Silver
4 Sorby Hills Project A near term producer of Lead and Silver • Located 50km northeast of Kununurra in the East Kimberley Region For personal use only of Western Australia (Tier 1 Jurisdiction) • High quality 47.3Mt Mineral Resource1 • 1.5Mt contained Lead at 3.1% • 0.2Mt contained Zinc at 0.4% • 53
Slide 5: Sorby Hills JV Partnership
5 Sorby Hills JV Partnership Boab Metals Ltd (75% interest) Henan Yuguang Gold and Lead Co., Ltd For personal use only (25% contributing interest) • Yuguang Gold and Lead Co., Ltd (“Yuguang”) is Asia’s largest electrolytic lead producer and China’s largest Silver producer.1 • Initially invested in S
Slide 6: High Quality Resource Estimate
6 Sorby Hills Project High Quality Resource Estimate Grade Contained Metal Tonnes Deposit Pb Zn Ag PbEq1 Pb Zn Ag For personal use only (Mt) % % g/t % kt kt koz A 0.6 5.3% 0.1% 23 6.1% 31 6 427 B 2.7 3.6% 0.3% 20 4.3% 97 8 1,720 Omega 17.2 3.3% 0.4% 34 4.5% 566 71 18,948 Norton 21.1 2.8% 0.4% 34 4.0
Slide 7: Low Risk Open Pit Ore Reserve
7 Sorby Hills Project Low Risk Open Pit Ore Reserve FEED Study Production Target For personal use only Total Waste ROM Pb Ag PbEq Strip Pit (Mt) (Mt) (Mt) (%) (g/t) (%) Ratio Pit A 4.1 3.7 0.5 3.7 16.4 4.3% 8.1 Pit B 14.8 12.6 2.3 3.2 17.4 3.8% 5.5 Omega South 21.1 18.3 2.8 2.9 29.5 3.9% 6.5 Omega M
Slide 8: FEED Study completed June 2024
8 Sorby Hills Project FEED Study completed June 2024 FEED Study Highlights For personal use only Lead A$264m pre- C1 cash cost 546 thousand payable tonnes production Capex A$1,803 Million Revenue US$0.36/lb payable Pb underpinned 75% Incl. net Silver credit of by tendered pricing US$0.37/lb payable
Slide 9: Confirmed Low-Cost producer
9 Sorby Hills Project Confirmed Low-Cost producer Independently confirmed as a 1st Quartile Project For personal use only on the Global Lead cost curve 2027 Lead Cost Curve (ex-works basis) 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile ▪ Low risk open cut mining and high process plant throughp
Slide 10: Exposure to Silver Price
10 Sorby Hills Project Exposure to Silver Price With a Resource containing 53 Moz of Silver, Sorby Hills is one For personal use only of the largest undeveloped Silver Deposits on the ASX US$/lb US$/oz ▪ Forecast Project 2.0 50 Operating Costs covered by a historically non- Sorby Hills AISC ex Lead
Slide 11: Silver: The most conductive metal on earth
11 Silver The most conductive metal on earth • Silver‘s traditional role as a Strong demand for use in solar cells and the storer of wealth is For personal use only electronic components of electric vehicles complemented by its increasing industrial demand. • The use of Silver in solar cells has inc
Slide 12: Supplying the proven Battery Metal
12 Sorby Hills Project Supplying the proven Battery Metal Lead demand growth underpinned by mature and For personal use only emerging vehicle technologies 1. www.batteryinnovation.org/resources/lead-battery-market-data/ “…. low voltage 12V lead- Forecast Light Vehicles Sales versus Lead Demand1 base
Slide 13: Development Ready
13 Sorby Hills Project Development Ready ▪ GRES has recently completed For personal use only Primary Crusher FEED Workstreams. ▪ FEED output has resulted in: ▪ detailed plant design and; Flotation Circuit optimised site layout; ▪ the issue of tender packages for long-lead items; and Filter Press ▪ u
Slide 14: Significant Intercepts post Mineral Resource Estimate
Sorby Hills Project 14 Significant Intercepts post Mineral Resource Estimate 2021 Phase V – 15 holes not yet included in Mineral Resource Estimate For personal use only ▪ SHRC_123 (Beta): 27m @ 3.47% Pb & 37g/t Ag from 34m: ▪ Incl. 3m @ 7.04% Pb & 95g/t Ag from 35m; 5m @ 5.60% Pb & 44g/t Ag from 45m
Slide 15: Keep Seismic Target
15 Sorby Hills Project Keep Seismic Target Keep Seismic Target ▪ 1st drill hole indicates potential for a new discovery (2 km south of existing Discovery located 2km from the existing Sorby Hills Reserves). For personal use only Sorby Hills Reserves. ▪ New Zone located within favourable structural a
Slide 16: Strategic Growth Opportunities: Manbarrum Zn-Pb-Ag Project
16 Sorby Hills Project Strategic Growth Opportunities Manbarrum Zn-Pb-Ag Project Vision to establish a long-life presence in the east For personal use only ▪ located 25km east of the Sorby Hills Project. Kimberley Region ▪ Mineral Resources declared at two prospects Figure: Location of the which are
Slide 17: Delivering Silver Exposure to Investors
17 Sorby Hills Project Delivering Silver Exposure to Investors The Sorby Hills Project and Boab Metals offer For personal use only rare ASX exposure to Silver Price movements ▪ Boab’s share price has 9.0 BML Share Price vs AUD Silver Price 1.00 historically demonstrated a 8.0 strong correlation with
Slide 18: Investment Opportunity: Near Term News Flow
18 Boab Metals Investment Opportunity For personal use only Near Term News Flow and Ongoing Activities ▪ Execute Offtake Agreement(s). 11% - FEED vs DFS NPV Based on same macroeconomic assumptions ▪ Assessing opportunities to further de-risk project execution and development timelines. Past 12 Month
Slide 19: Thank You
19 For personal use only Thank You Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals
Slide 20: Establishing Deep Roots within the Local Community
20 Boab Metals Establishing Deep Roots within the Local Community For personal use only Boab is extremely proud to be the Naming Rights Sponsor of the Ord Valley Muster for 2023 and beyond. • Sense of community plays a key role in economic and social well-being of stakeholders across the east Kimber
Slide 21: Board and Technical Team
21 Board and For personal use only Technical Team Gary Comb Simon Noon Richard Monti Andrew Parker Chairman Managing Director Non-Exec. Director Non-Exec. Director and CEO Board and Management Engineer with over 30 Experienced mining Geologist with over 30 Lawyer with significant with a proven track
Slide 22: Appendix
22 Appendix For personal use only Appendix Boab Metals Limited ASX:BML 22
Slide 23: Sorby Hills Feed Study Life of Mine Physicals
23 Sorby Hills Feed Study Life of Mine Physicals PHYSICALS SUMMARY Unit Total 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 For personal use only ROM Mined Mt 18.3 - 0.4 2.1 2.3 2.4 2.5 2.3 2.0 1.1 3.0 0.3 - Waste Mined Mt 134.6 - 3.8 11.7 14.3 25.7 25.4 21.0 17.3 13.0 4.2 0.2 - % Meas
Slide 24: Sorby Hills Feed Study Life of Mine Cashflows
24 Sorby Hills Feed Study Life of Mine Cashflows FINACIAL SUMMARY Unit Total 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 For personal use only Lead Revenue A$M 1,803 - - 198 225 260 215 207 208 165 226 98 1,803 Silver Revenue A$M 693 - - 59 69 131 121 57 62 71 82 40 693 Total Revenue
Slide 25: Capital Cost Breakdown
25 Sorby Hills FEED Study Capital Cost Breakdown For personal use only Total upfront capital cost of A$264M Item Pre-Production Sustaining Total (A$M) (A$M) (A$M) including A$22.7M contingency EPC Contract 134.9 - 134.9 ~66% of capital costs underpinned by Site Ests/ Bulk Earthworks 31.9 4.9 36.9 te
Slide 26: Operating Cost Breakdown
26 Sorby Hills FEED Study Operating Cost Breakdown For personal use only Competitive C1 cash cost of US$0.36/lb Item Total Unit Costs (A$M) payable Pb (including Silver Credits). A$/t ore US$/lb payable Pb Logistics 117 6.4 0.07 ~80% of Mining Costs underpinned by Mining 547 30.0 0.31 tendered prici
Slide 27: Resource Classification by Deposit
27 Sorby Hills Project Resource Classification by Deposit Grade Contained Metal For personal use only Tonnes Deposit Classification Pb Zn Ag PbEq1 Pb Zn Ag (Mt) % % g/t % kt kt koz Inferred 0.6 5.3% 1.0% 23 6.1% 31 6 427 A Sub Total 0.6 5.3% 0.1% 23 6.1% 31 6 427 Measured 1.4 3.8% 0.3% 19 4.5% 52 4
Slide 28: Metal Equivalent Calculations
28 Metal Equivalent Calculations For personal use only The contained metal equivalence formula is It is Boab’s opinion that all elements included in the metal equivalent calculation have a reasonable based on the Sorby Hills FEED Study including: potential to be recovered and sold. The formula used