Metals X Limited · ASX:MLX
Metals X — Investor Presentation (February 2015)
22 slides from Metals X's investor presentation, Feb 9, 2015
Slide 1: Rapidly Expanding Gold Producer + Commodity/Risk Diversification
ASX: MLX OTCQX: MLXEF GR: FG5 Rapidly Expanding Gold Producer + Commodity /Risk Diversification
Slide 2: A Stable & Strong Company
CORPORATE PROFILE A Stable & Strong Company ASX: MLX OTCQX: MLXEF GR: FG5 1. Rapidly expanding gold producer (& expanding). 2. Globally significant tin miner. 3. Development ready - world class nickel-cobalt project. 4. Strong Balance Sheet & Fiscal Position ~A$120M cash, strong cash-flow, no corpor
Slide 3: Corporate Snapshot
CORPORATE SNAPSHOT Shares on Issue ~ 416 million Key Financials (2014 FY) : Revenue of $238.6M, up 247% Share Price $1.15 EBITDA of $71.7M, up 679% Market Cap. ~A$480 million Profit of $37.4M, up 332% Enterprise Value ~A$360 million Net Operating Cash Flow $73.4M, up 640%. ASX 300 Company Return on
Slide 4: A Diversified Miner – Australia Focussed
A DIVERSIFIED MINER – AUSTRALIA FOCUSSED Large Resource Backing Base Metals Tassie Tin (50%) 140 Kt Sn 40 Kt Cu Wingellina 2,067 Kt Ni 161 Kt Co 99 Mt Fe2O3 Rover 1 – IOCG 112 Kt Cu 9.5 Kt Bi 4 Kt Co Explorer 108 384 Kt Zn 237 Kt Pb 4.2 Moz Ag Precious Metals - Gold Commodity and Revenue 5 Gold Proj
Slide 5: Significant Gold Producer (& expanding)
Significant Gold Producer (& expanding) 5 Gold Projects 1. Higginsville Gold Operations – in production. 2. South Kalgoorlie Operations – in production. 3. Central Murchison Gold Project – in production mid-2015. 4. Central Tanami Gold Project (up to 75%) – targeting production end-2015. 5. Rover 1
Slide 6: Gold – Higginsville Gold Operations
GOLD HIGGINSVILLE GOLD OPERATIONS Mineral Resource (30 June 2014) 13.3 Mt @ 2.88 g/t Au 1.23 Million Oz Ore Reserve (30 June 2014) 4.54 Mt @ 3.67 g/t Au 535,000 Oz Trident underground mine is key production source. Procession of lower grade open pits. Good exploration potential Higginsville Mar 2014
Slide 7: Gold – South Kalgoorlie Operations
GOLD SOUTH KALGOORLIE OPERATIONS Mineral Resource (30 June 2014) 50.3 Mt @ 1.98 g/t 3.2 Million Oz Ore Reserve (new estimate underway) HBJ underground mine re-started. Procession of smaller open pits started. Remaining Low grade stocks (0.4mt). Mining JV’s and toll processing. South Kal Mar 2014 Q J
Slide 8: Australian dollar demise widens gold margins
Australian dollar demise widens gold margins. A$ Gold Price $1,325/oz - $1,635/oz Range $310/oz Margin $355/oz US$ Gold Price $1,140/oz - $1,382/oz Range $242/oz 8
Slide 9: Gold – Central Murchison Gold Project
GOLD CENTRAL MURCHISON GOLD PROJECT 128 million tonnes @ 2.1 g/t Au; Total Mineral Resource Est. 8.5 million ounces 21.2 million tonnes @ 3.0 g/t Au; Total Ore Reserve 2.05 million ounces 5.0 million tonnes @ 4.0 g/t Au; Inferred Resource in Dev’mnt Plan 0.41 million ounces Initial Project Life 13 y
Slide 10: Gold – Central Murchison Gold Project
GOLD CENTRAL MURCHISON GOLD PROJECT CMGP 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 7 Year Total Gold Produced 98,000 oz 220,000oz 205,000 oz 200,000 oz 236,000 oz 261,000 oz 268,000 oz 1,488,000oz Total Cost of Sales A$1450/oz A$950/oz A$1,238/oz A$1,289/oz A$1,126/oz A$1
Slide 11: Gold – Central Tanami Gold Project
GOLD CENTRAL TANAMI GOLD PROJECT Metals X to acquire 75% Interest. 1. 25% Direct upfront interest acquired for $11M in cash and 4M MLX shares. 2. Additional 50% interest earned by sole funding to commercial production. 3. Metals X is manager and operator for and on behalf of the parties from the out
Slide 12: Gold – Central Tanami Gold Project
GOLD CENTRAL TANAMI GOLD PROJECT CTP Mineral Resource (TAM 2014 Annual Report) Total 25.5 Mt @ 3 g/t Au containing 2.625 million oz. Groundrush – 6.7 Mt @ 4.8 g/t Au containing 1.04 million oz. Development strategy for re-start of commercial production currently being established. 12
Slide 13: Gold Division – Rover IOCG (Tennant Creek)
GOLD DIVISION ROVER 1 – IOCG (TENNANT CREEK) Total Mineral Resource 1.2Moz Gold Eq.: 6.8Mt @ 5.6 g/t Au. Eq. (1.73 g/t Au, 2.07 g/t Ag, 1.21% Cu, 0.14% Bi, 0.05% Co) Latest Results – December 2014 WGRD59-2A1 – 20.87m(TW) @14.5 g/t Au. 6.0% Cu, 0.22% Bi, 0.08% Co Bonanza Gold intercepts 15.75m @ 29.4
Slide 14: Globally Significant Tin Miner
Globally Significant Tin Miner AUSTRALIA’S ONLY SIGNIFICANT TIN PRODUCER b l i c l y w o rld pu tern - l y w es t h e on r f n o t d u c e f e w,i t i n p ro e v e ry l i s ted of t h One 14
Slide 15: Tin Division – Tasmanian Tin Projects
TIN DIVISION TASMANIAN TIN PROJECTS (50% MLX) 3 Key Tin Projects (50% owned and managed) 1. Renison Project • Integrated underground mine and tin concentrator. • World renowned as one of the great tin mines. 2. Rentails Project • A planned tailings re-treatment project and downstream fumer process.
Slide 16: Tin Division – Renison Bell Mine
TIN DIVISION RENISON BELL MINE (MLX 50%) The Renison Bell Mine • In Production since 1968: >24 Mt @ 1.4% Sn (240Kt recovered tin). • Reserves 5.9 Mt @ 1.37% Sn (81Kt) – 8.5 yrs • Resources 11.1 Mt @ 1.58% Sn (175Kt) – 16yrs • 2014/15: 7 – 8,000tpa Sn @ A$18,000/t TCCS • MLX Share (50%) • EBITDA ~ A$
Slide 17: Tin Division – Renison Expansion Project (Rentails)
TIN DIVISION RENISON EXPANSION PROJECT (RENTAILS – MLX 50%) 20.6 Million tonnes @ 0 .45%Sn 0.2 Proposed New Fumer Plant 1%Cu • Project Capital Existing Renison Mine Cost Estimate (Metals X 50% share) : Infrastructure – New Tin Fines Concentrator 2Mtpa ~A$40 million – Tin Fumer Plant 60ktpa ~A$40 mil
Slide 18: Nickel Division – Central Musgrave Project
NICKEL DIVISION CENTRAL MUSGRAVE PROJECT • A major land holding covering the ultrabasic layered intrusives of the Giles Complex in the Musgrave Ranges in Central Australia. • The world class Wingellina Nickel Project – one of the largest undeveloped nickeliferous ‘pure oxide’ limonite accumulations
Slide 19: Nickel Division – Wingellina, A Limonite Not A Laterite
NICKEL DIVISION WINGELLINA – A LIMONITE NOT A LATERITE Wingellina Limonite Typical Austr. Laterites Strip Ratio 1:1 (0.5:1 for 20 years) 3-5 :1 Waste:Ore Ore Thickness (avg.) 80 m 5-15 m Tonnes / km2 50-60 Mt 5-15 Mt Iron / MgO Ratio High Iron / Low MgO Low Iron / Mod-High MgO Acid Consumption < 300
Slide 20: Nickel Division – Wingellina Nickel Project DFS
NICKEL DIVISION WINGELLINA NICKEL PROJECT - DFS Ore Reserves 167.5M tonnes @ 1% Ni, 0.08% Co Annual Metal Production 40,000 tonnes Ni, 3,000 tonnes Co Mine Life 40+ Years Metal Price Assumptions Ni US$20,000/t, Co US$45,000/t Exchange Rate Assumption AUD 0.85 Production Cost US$3.34/lb (after Co cre
Slide 21: The Investment Synopsis
The Investment Synopsis Metals X is an emerging gold miner (Aust Top 10). ASX: MLX OTCQX: MLXEF A diversified company - revenue and profits across several metals. GR: FG5 • Fiscally strong – large cash balance, no debt , no gearing. • Dividend paying. • Fully funded growth options in gold and tin. •
Slide 22: Proudly Positioned as an Australian Miner – General Disclaimer
PROUDLY POSITIONED AS AN AUSTRALIAN MINER 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