Metals X Limited · ASX:MLX
Metals X — Investor Presentation (September 2025)
23 slides from Metals X's investor presentation, Sep 19, 2025
Slide 1: Australia's Premier Tin Producer
AUSTRALIA’S PREMIER TIN PRODUCER PRESENTATION SEPTEMBER 2025 metalsx.com.au ASX|MLX
Slide 2: Cautionary Statement & Disclaimer
Cautionary Statement & Disclaimer This Presentation has been prepared by Metals X Limited (“Metals X”, “MLX” or the “Company”) and authorised for release by its Board. GENERAL DISCLAIMER PAST PERFORMANCE This presentation should be read in conjunction with the Annual Report at 31 December 2024, Past
Slide 3: Board
Board Peter Gunzburg Grahame White Patrick O’Connor Brett Smith Independent Independent Independent Executive Non-Executive Chairman Non-Executive Director Non-Executive Director Director Mr. Gunzburg has more than 40 Mr. White is a construction and Mr. O’Connor is an Mr. Smith has over 33 years’ ye
Slide 4: Company Highlights
Company Highlights Released 2024 ESG Report developed “with reference to” the international Global Reporting Initiative Standards (GRI). 1 Metals X completed a $5 million investment in Elementos Limited (ASX: ELT) through a private placement. As a result of this transaction, Metals X now owns 19.98%
Slide 5: Capital Structure Overview
Capital Structure Overview Top 20 Shareholders At 30 June 2025 21.55 886,391,538 $483M $259M1 $148M Issued Shares Closing Revenue Market Cap Available Cash 20,874,529 $0.54 $53M $162M2 $0.058 78.45 Total Shares Repurchased Net Assets NPAT Enterprise EPS and Cancelled per Share Value Remaining MLX Ho
Slide 6: Financial Summary
Financial Summary Share Price Performance Tin Customers $600 $0.60 $500 $0.50 $400 $0.40 40% $300 $0.30 $200 $0.20 $100 $0.10 60% $0 - 30-Jun-20 30-Jun-21 30-Jun-22 31-Dec-22 31-Dec-23 31-Dec-24 30-Jun-25 12-months 12-months 12-months 6-months 12-months 12-months 6-months Yunan Tin Group Malaysian S
Slide 7: Renison – A World Class Tin Operation
Renison – A World Class Tin Operation • Only ASX listed tin producer. • A significant tin operation in a favorable jurisdiction. • Renison Bell Proved and Probable Reserve 8.210Mt at 1.37% Sn for 112,200 tonnes of contained tin.7 • Mine life remains at approximately 10 years, with an annual producti
Slide 8: Renison Tin Mine
Renison Tin Mine The Renison tin mine was discovered by George Renison Bell in 1890, initially producing alluvial cassiterite. Hard rock mining commenced in 1936, with continuous operation at the current plant site since 1965. Bluestone Mines acquired Renison Renison in 2004, restarting operations i
Slide 9: Renison Tin Operation Production Summary
Renison Tin Operation Production Summary (100%) Production Unit HY 2025 FY 2024 FY 2023 Ore mined t ore 353,422 801,193 778,638 Grade of ore mined % Sn 1.52 1.91 1.65 Ore milled (after sorter upgrade) t ore 344,975 665,334 649,548 RENISON SET A NEW Grade of ore processed Mill recovery % Sn % 1.86 80
Slide 10: Rentails
Rentails The Rentails project is a tailings retreatment initiative at the Supporting Infrastructure Renison tin mine in Tasmania, aiming to extract tin and copper from 25 million tonnes of historic tailings8 using new Re-Processed processing facilities. The project is in the regulatory approval Tail
Slide 11: Ringrose
Ringrose Mineralisation at Ringrose is located about 750 metres south of existing development and occurs over approximately 250 metres down dip and 300 metres strike length. High-grade mineralisation is interpreted to be associated with an east-west, south- dipping structure named Acacia. Mineralisa
Slide 12: Ringrose – Best Intersections to date
Ringrose Best Intersections to date9 Hole ID Significant Intercept (DH width) S1671 26.93m @ 4.57% Sn from 225.1m S1675 13.3m @ 1.27% Sn from 173.6m S1678 2.4m @ 1.05% Sn from 46.2m; 5.1m @ 0.61% Sn from 136.1m S1679 8.90m @ 1.49% Sn from 136.1m S1681 4.25m @ 1.21% Sn from 218.9m S1682 1.0m @ 1.20%
Slide 13: Future Regional Exploration
Future Regional Exploration • Ringrose – currently drilling x 2 surface rigs – one rig drilling Ringrose infill and testing Acacia high-grade zone; one rig drilling extensions of Ringrose zone to north. • DC target, (EDGI grant) – completed 1 x 800m diamond hole and reaming of historic drill hole (6
Slide 14: Capital Projects
Capital Projects Ventilation Upgrade Mine Dewatering Surface Projects • Works on the Leatherwoods Return Air Raise • Significant progress was made on mine • The tailings dam overhead powerline is now in continued, with installation of ventilation doors, dewatering, with pump system installation serv
Slide 15: Mineral Resources (Renison Tin Operation)
Mineral Resources (Renison Tin Operation) At 31 March 2025 (MLX Share is 50%)10 Contained Metal The Company last undertook its annual review of Tonnes1 Tin Copper Tin Copper mineral resources as at 31 March 2025, Project (Mt) (%Sn) (%Cu) (kt) (kt) The Company confirms it is not aware of any new 31-M
Slide 16: Ore Reserves (Renison Tin Operation)
Ore Reserves (Renison Tin Operation) Ore Reserves Estimates11 (50% MLX) – Consolidate Summary & Annual Comparison The Ore Reserve estimates are a subset of the Mineral Resource estimates Tin Copper The Company last undertook its annual review of ore reserves and mineral resources as at 31 March 2024
Slide 17: Investments
Investments 50% 2.93% 3.11%12 19.99% 8.46% 29.91% 100% 41% RENISON RENTAILS MT BISCHOFF 12. On 24 July 2025 Metals X announced it received valid acceptances in respect of a total of 42,417,600 Greentech shares from Qualifying Shareholders under the Partial Offer, representing approximately 3.11% of
Slide 18: Financial Summary – Investments
Financial Summary Investments Value per Ownership Type Total Cost Number of Valuation Date Company Instrument Valuation Method % Instrument $000 Instruments $000 $ 30 June 2025 CYM - con.note $36,000 4 $10,862,059 $43,448 Fair Value 30 June 2025 CYM - options - 40,600,000 $0.012 $487 Fair Value 30 J
Slide 19: First Tin
First Tin Refer to First Tin PLC website for source documentation which can be found at www.firsttin.com. Page 19
Slide 20: Elementos Limited tin projects
Elementos Limited (ASX:ELT) is ASX:ELT developing two significant global tin projects into production Background Historic tin mine under re-evaluation as tin, tungsten and critical minerals project after recent 2024 drilling intersections of base, critical and precious metals. Oropesa Tin Project Cu
Slide 21: Elementos Oropesa Mineral Resource & Maiden Ore Reserve Tables
Elementos Limited Oropesa Mineral Resource Estimate & Maiden Ore Reserve Tables OROPESA TIN PROJECT FEB-2023 MINERAL RESOURCE ESTIMATE13 April-2025 MAIDEN ORE RESERVE14 Resource Contained Tin MRE Tonnes (M Contained Sn Metal Reserve Resource Classification Sn% Reserve Category Sn% Tonnes Metal (tonn
Slide 22: Competent Persons' Statements
Competent Persons’ Statements COMPETENT PERSONS STATEMENT Metals X Competent Persons Statements The information in this report that relates to Exploration Results and Mineral Resources has been compiled by Bluestone Mines Tasmania Joint Venture Pty Ltd technical employees under the supervision of Mr
Slide 23: Contact
CONTACT ENQUIRIES Mr Brett Smith | Executive Director brett.smith@metalsx.com.au Phone: +61 8 9220 5700 Unit 202, Level 2, 39 Mends Street South Perth WA 6151 Australia metalsx.com.au ASX|MLX