Central Asia Metals PLC · LSE:CAML
Central Asia Metals — Merger or Acquisition (May 2025)
25 slides from Central Asia Metals's merger presentation, May 21, 2025
Slide 1: Investing in our future
Investing in our future Proposed Acquisition of New World Resources Limited 21 May 2025 1
Slide 2: Disclaimer
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 DISCLAIMER The information contained in this confidential document (“Presentation”) has been prepared by Central Asia Metals plc (the “Company”) in relation to its proposed acquisition of all the shares of New World Resources Limited ("NW
Slide 3: Transaction Overview
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 TRANSACTION OVERVIEW ‒ CAML to acquire New World Resources Limited (ASX: NWC) (‘NWR’) (the ‘Transaction’), which holds the Antler project, a high-grade copper deposit located in Arizona in the US, by way of a scheme of arrangement under P
Slide 4: CAML Pro-Forma Asset Portfolio
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 CAML PRO-FORMA ASSET PORTFOLIO NWR Assets CAMLX Tererro Kounrad Sasa Antler Javelin Aberdeen CASH FLOW GENERATING NEAR-TERM GROWTH LONG-TERM GROWTH ASSETS FROM DEVELOPMENT FROM EXPLORATION Two highly cash generative operations High-grade
Slide 5: Transaction Highlights and Rationale
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 TRANSACTION HIGHLIGHTS AND RATIONALE Transformative transaction ‒ Once in production, more than doubles CAML’s production and cash flow, with average annual payable 01 production from Antler of 30,000 tonnes of copper equivalent and avera
Slide 6: Transformational Transaction
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 TRANSFORMATIONAL TRANSACTION PAYABLE TOTAL RESOURCES AISC UNLEVERED FCF PRODUCTION (Mt Cu-eq) (US$/lb Cu-eq) (US$m) (kt Cu-eq) ~30kt Cu-eq US$0.20/lb US$115m ~0.5Mt Cu-eq production increase once decrease in AISC once UFCF increase once r
Slide 7: Antler – High-Grade Copper Project in a Tier-One Jurisdiction
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 ANTLER – HIGH-GRADE COPPER PROJECT IN A TIER- ONE JURISDICTION ANTLER OVERVIEW Las ‒ Located in a sparsely populated part of northern Vegas AZ Mineral Park NORTH Arizona NV (Waterton Copper) Antler Location ‒ Approximately 200km southeast
Slide 8: Antler Production Profile
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 ANTLER PRODUCTION PROFILE ANNUAL RECOVERED METAL CU-EQ (KT) PRODUCTION BY COMMODITY AND C1 COSTS1 (US$/lb CU-EQ) Recovered Cu-eq (kt) C1 Costs ($/lb Cu-eq) Payable LoM Metal Production 40 Production Lead Gold 3% 37 37 38 4% 37 36 Copper 1
Slide 9: Antler PFS Highlights
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 ANTLER PFS HIGHLIGHTS OPERATIONAL HIGHLIGHTS FINANCIAL HIGHLIGHTS LoM Avg. Payable Metal Production Current Mine Life Post-tax NPV7% Post-tax IRR (Years 2-11) 12.2 Years US$498m 30.3% 30kt Cu-eq LoM Avg. Revenue LoM Avg. EBITDA LoM Mining
Slide 10: Positive Government and Community Engagement by Antler Team
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 POSITIVE GOVERNMENT AND COMMUNITY ENGAGEMENT BY ANTLER TEAM FEDERAL ‒ Site visit by Paul Gosar, newly re-elected Republican Congressman for the 9th District, and previous member of the House Natural Resources Committee, in October 2024 ‒
Slide 11: Antler Permitting
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 ANTLER PERMITTING PERMITTING CONTEXT ANTLER PERMITTING The US administration has invoked emergency powers ‒ Recent executive orders expected to further to boost domestic mining and critical minerals expedite permitting production with rec
Slide 12: Acquisition Financing
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 ACQUISITION FINANCING Funding ‒ The Transaction will be funded from CAML’s existing cash and a new credit facility Existing ‒ At 31 December 2024, CAML had cash in the bank of ~US$68m and US$10m of undrawn overdraft credit Balance Sheet f
Slide 13: Next Steps
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 NEXT STEPS Working with NWR to complete the Transaction, expected in September 2025 DFS under way with NWR progressing numerous workstreams prior to Transaction completion, including metallurgy, processing, mining and infrastructure desig
Slide 14: Contact Details
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 CONTACT DETAILS INVESTOR RELATIONS MANAGER Richard Morgan rm@caml.uk +44 (0) 207 898 9001
Slide 15: Appendix
CENTRAL ASIA METALS PLC Appendix
Slide 16: Antler Mineral Resource Estimate (May 2025)
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 ANTLER MINERAL RESOURCE ESTIMATE (MAY 2025) Antler Sulphide Domain is the basis of the PFS mine plan released in 2024 Cu-eq Cu Zn Pb Ag Au Classification Mt (%) (%) (%) (%) (g/t) (g/t) Antler Sulphide Domain Measured 4.53 3.63 1.79 4.50 0
Slide 17: CAML 2024 Overview
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 CAML 2024 OVERVIEW EBITDA EBITDA MARGIN COPPER US$101.8m 47% PRODUCTION EBITDA 13,439t US$88.8m CASH FREE CASH FLOW US$67.6m US$65.7m COPPER EBITDA DEBT FREE SALES MARGIN REVENUE PROFIT AFTER TAX 13,521t 73% US$214.4m US$50.8m GROUP CAPEX
Slide 18: Kounrad Copper Operation
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 KOUNRAD COPPER OPERATION Kounrad Mine Eastern Dumps 7 5 6 2 20 SX-EW 9-10 plant 13 Western Dumps 21a 15 1a 16 Kounrad village 22 18
Slide 19: 2024 Kounrad C1 Copper Cash Cost
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 2024 KOUNRAD C1 COPPER CASH COST 2024 C1 cash cost US$0.80/lb 2024 2023 2024 2023 (2023: US$0.74/lb) Cost US$m US$m US$/lb US$/lb US$0.06/lb YoY increase, owing to: Reagents 3.7 3.3 0.13 0.11 – 33% of C1 cash cost increase is due to 377t
Slide 20: Sasa Zinc and Lead Mine
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 SASA ZINC AND LEAD MINE - Skarn-hosted lead-zinc deposit in North Macedonia - Mining mainly cut-and-fill and long-hole stoping with paste fill - Tailings disposal prioritises underground fill and dry-stack system, with the remainder going
Slide 21: 2024 Sasa Run-of-Mine Costs
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 2024 SASA RUN-OF-MINE COSTS 2024 RoM unit costs US$64.6/t 2024 2023 (2023: restated US$56.2/t) C1 cash cost 2024 2023 US$m US$m US$8.4/t YoY increase, owing to: RoM t 762,456 805,621 – Reduction in RoM ore extracted by 43,165t, contributi
Slide 22: Returns to Shareholders
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 RETURNS TO SHAREHOLDERS STRONG FINANCIAL PERFORMANCE WITH A FLEXIBLE BALANCE SHEET 400 ‒ Since IPO CAML has returned ~US$380m 350 in dividends (188p per share) 300 ‒ Dividends paid far exceed the total of 250 US$214m in equity raised from
Slide 23: Sustainability – Strategy and Progress
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 SUSTAINABILITY – STRATEGY AND PROGRESS PILLAR TARGET During 2024, CAML: Zero human rights abuses ENSURING ETHICAL - Published its fifth annual BUSINESS Zero cases of bribery and corruption Sustainability Report Implement Group-wide suppli
Slide 24: Mineral Resource Estimates for Svinja Reka and Golema Reka - Sasa
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 MINERAL RESOURCE ESTIMATES FOR SVINJA REKA AND GOLEMA REKA - SASA Sasa’s technical services team has updated the Mineral Resource Estimate (MRE) for the Svinja Reka and Golema Reka deposits as of 31 December 2024. Classification Deposit M
Slide 25: Svinja Reka Ore Reserve Statement
CENTRAL ASIA METALS PLC | TRANSACTION PRESENTATION | MAY 2025 SVINJA REKA ORE RESERVE STATEMENT The following Ore Reserve Statement has been prepared by Sasa’s technical services team based on a life of mine (LoM) plan that includes a transition from the sub level caving mining method to cut and fil
Central Asia Metals — Merger or Acquisition (May 2025) on 6ix