Metals X Limited · ASX:MLX
Metals X — Denver Gold Forum September 2016
20 slides from Metals X's conference presentation, Sep 20, 2016
Slide 1: Westgold Resources Limited: Australia's Newest Gold pure-play
Westgold Resources Limited Australia’s Newest Gold pure-play Denver Gold - September 2016
Slide 2: Metals X Limited: diversified Australian miner
Metals X Limited Is a diversified Australian Miner with significant gold and base metals operations 1. Rapidly expanding gold producer (current r/r 250,000 oz pa). 2. Globally significant Tin producer (~3,500 tpa Sn). 3. Significant Copper Producer (~35,000tpa Cu). 4. Development ready - world class
Slide 3: Simplifying a Complex Corporate Structure
Simplifying a Complex Corporate Structure 3
Slide 4: Creating a Significant Gold Pure-play Company
Creating a Significant Gold Pure-play Company 4
Slide 5: Top Domestic Gold Producer; Mineral Resources and Ore Reserves
Top 10 Domestic Gold Producer Total Mineral Resources Estimates – JORC 2012 Group Total (excl. Rover) Tonnes (Mt) Grade (g/t) Gold (M’n oz) Measured 2.97 3.32 0.32 Indicated 130.1 2.20 9.2 Inferred 89.8 2.04 5.9 TOTAL 222.9 2.15 15.4 Total Ore Reserves – JORC 2012 Group TotaL (excl. Rover) Ton
Slide 6: 4 Processing Plants – 5.5mtpa capacity
4 Processing Plants – 5.5mtpa capacity Higginsville Gold Operations (5.8yrs) South Kalgoorlie Gold Operations (3yrs) Resource - 33.6 Mt @ 2.0g/t = 2.2 million ounces Resource - 50.9 Mt @ 2.3g/t = 3.7 million ounces Reserves - 7.57 Mt @ 1.78 g/t = 0.43 million ounces Reserves - 3.5 Mt @ 3.7 g/t = 0.3
Slide 7: Outstanding Growth Profile
Outstanding Growth Profile • Higginsville Gold Operations (incl. Mt Henry) ~ 100,000 oz per annum (steady 5.8+ yrs life) AISC estimate US$950/oz (A$1250/oz) • South Kalgoorlie Operations (incl. Cannon) ~ 100,000 oz per annum (steady 3.0+ yrs life) AISC estimate US$900/oz (A$1180/oz) • Central Murchi
Slide 8: Westgold Corporate Snapshot – On Listing
WESTGOLD CORPORATE SNAPSHOT – ON LISTING Shares on Issue ~ 606 million Un-merged Co. Market Cap = US$685m Share Price ~ $1.00 ($A$900m) Less ½ cash US$68M (A$90M) Market Cap. US$ 460 million (~A$600 million) Less Base Metals Assets US$ 150M (A$200M) Enterprise Value US$ 375M Residual Gold Co Value (
Slide 9: Mineral Resources (Million Oz's)
Mineral Resources (Million Oz’s) Average 9.95Moz Source Data PCF Aug 2016 9
Slide 10: Ore Reserves (Million Oz's)
Ore Reserves (Million Oz’s ) Average 3.3Moz Source Data PCF Aug 2016 10
Slide 11: % of Resource in Reserves
% of Resource in Reserves Average 33% Source Data PCF Aug 2016 11
Slide 12: EV / Oz of Gold Resource
EV / Oz of Gold Resource Average US$120/oz (A$157/oz) Source Data PCF Aug 2016 12
Slide 13: EV / Oz of Gold Reserves
EV /Oz of Gold Reserves Average US$370/oz (A$489/oz) Source Data PCF Aug 2016 13
Slide 14: Price/NAV
Price/NAV Average 0.93x AVERAGE OF BROKER RESEARCH SUPPLIED BY HARTLEYS, CANNACORD, GENUITY AND SOMERS & CO 14
Slide 15: Market is US$ Gold Price Reactive (6mth view)
Market is US$ Gold Price Reactive (6mth view) 15 15
Slide 16: Westgold Resources Limited: A formidable Australian Gold Miner
Westgold Resources Limited A formidable Australian Gold Miner 1. 15.4+ million oz Resource base (excl. polymetallic equiv’s). 2. 2.9 million oz Reserves. 3. Production 250,000ozpa going to 450,000oz pa (next 2 years). 4. Net Cash & Working Capital $120+, Debt Free. 5. Excellent Margins – US$380/oz (
Slide 17: Metals X remains
Metals X remains pr IETALS X LIMITED acw 110150055 COPPER MILLS PrYLTD RENISON RENTAILS scram es6558 MTBISCHOFF 17
Slide 18: Metals X Limited: A formidable Diversified Base Metals Miner
Metals X Limited A formidable Diversified Base Metals Miner 1. Big Resource and Reserve base in Tin, Copper Nickel, Cobalt. 2. Only listed Tin producer in the western world (~3,500tpa Sn). 3. Significant Copper Producer (~35,000tpa Cu). 4. 100% of one of largest undeveloped Ni-Co-Fe deposits in worl
Slide 19: 2 for 1 Deal
2 for 1 Deal A substantial Top 10 – Australian Gold Producer A formidable diversified base metal miner A pure-play gold set for international re-rate A leading tin producer (unique), copper producer, a massive option on Ni & Co. 19
Slide 20: Thanks for listening!
Thanks for listening! General Disclaimer This presentation has been prepared by Metals X Limited (“Metals X” or the “Company”). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Company. This presentation contains forecasts