Slide 1: Whim Creek Copper-Zinc Project Definitive Feasibility Study 2023
For personal use only W H I M C R E E K CO P P E R - Z I N C P R O J E C T DEFINITIVE FEASIBILITY STUDY 2023 ASX: ANX APRIL 2023
Slide 2: Disclaimer
Anax Metals Limited DFS DISCLAIMER This presentation has been prepared by Anax Metals Limited (the Company) based on information from its own, and third-party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, despatch
Slide 3: Introduction
Anax Metals Limited DFS INTRODUCTION For personal use only www.anaxmetals.com.au Email: info@anaxmetals.com.au
Slide 4: DFS Project Highlights
Anax Metals Limited DFS ANAX SUSTAINABLE PILBARA COPPER - WHIM CREEK DFS Project Highlights1, 2 , 3 For personal use only Whim Creek Project owned by ANX (80%) and Develop (20%) Pre-Production Capital Free Cashflow of $71M $340M Working Capital $14M 8 year mine life NPV7: $224M 55 ktpa concentrate I
Slide 5: Capital Structure
Anax Metals Limited DFS CAPITAL STRUCTURE As of 31 March 2023 For personal use only Share Price Market Capitalisation Top 5 Shareholders $0.076 $31.1M BEARAY PTY LTD (As at 31 March 2023) J P MORGAN NOMINEES AUSTRALIA HSBC CUSTODY NOMINEES (AUSTRALIA) DIRECTORS Shares On Issue Cash JETOSEA PTY LTD 4
Slide 6: Anax Team
Anax Metals Limited DFS ANAX TEAM BOARD MANAGEMENT For personal use only Andrew McDonald - Manager Projects Wendy Beets - Manager Project Generation Dan O’Hara - Environmental Manager Jenine Owen - Chief Financial Officer Philip Jackson Geoff Laing Steven Wood - Company Secretary (Barriste
Slide 7: ESG
Anax Metals Limited DFS ESG For personal use only ENVIRONMENTAL SOCIAL GOVERNANCE Anax is actively pursuing a low carbon Strong community involvement Experienced and diverse board development strategy for Whim Creek Anax is co-funding the refurbishment of the Focus on risk management Env
Slide 8: Growth Opportunities
Anax Metals Limited DFS GROWTH OPPORTUNITIES For personal use only RESERVE GROWTH POTENTIAL Evelyn open from 170m vertical depth Salt Creek open from 400m vertical depth PROCESSING HUB TO SERVICE THE PILBARA Whim Creek location is ideal to service the base metal province Anax’s sorting strat
Slide 9: Processing Hub – The Centre of the Pilbara Base Metals Province
Anax Metals Limited DFS WHIM CREEK PROCESSING HUB – THE CENTRE OF THE PILBARA BASE METALS PROVINCE For personal use only The planned and existing infrastructure are ideally suited for a regional processing hub Whim Creek will have the facilities to treat oxide, transitional and primary sulphide
Slide 10: Definitive Feasibility Study
Anax Metals Limited DFS WHIM CREEK DEFINITIVE FEASIBILITY STUDY For personal use only www.anaxmetals.com.au Email: info@anaxmetals.com.au
Slide 11: Whim Creek Overview – An Established Mining Site
Anax Metals Limited DFS WHIM CREEK – AN ESTABLISHED MINING SITE 1 Whim Creek Overview For personal use only Location 120 km from Port Hedland and Karratha Mineralisation VMS Site infrastructure Haul Roads, Workshops, Offices, Bore field, Crushing Plant, Heap and Ponds, SX and EW plants, Power-house
Slide 12: Operational and Financial Metrics
Anax Metals Limited DFS OPERATIONAL AND FINANCIAL METRICS 1 For personal use only PARAMETER UNIT OUTCOME Nameplate Process throughput Tpa 400,000 Mine Life Years 8 Ore Reserve Mt 4.55 LOM Production Schedule (Reserves + Inferred Resources) M 4.82 Copper Metal in Reserve / LOM Schedule ktpa 62 / 65 Z
Slide 13: DFS
Anax Metals Limited DFS WHIM CREEK PROJECT DFS For personal use only DFS completed to Robust results in a Anax management Anglo American +/-15% accuracy highly inflationary of the DFS debt funding on all cost development supported by package subject to elements market industry experts the details of
Slide 14: The Anax Flowsheet – Using Technology to Deliver a Robust Project
Anax Metals Limited DFS THE ANAX FLOWSHEET – USING TECHNOLOGY TO DELIVER A ROBUST PROJECT For personal use only DE-COUPLING OF MINING AND PROCESSING Maximizing mining rates Ensuring the concentrator feed is ALWAYS the highest grade ore available Maximizing metal unit production through the con
Slide 15: Development Schedule
Anax Metals Limited DFS WHIM CREEK PROJECT DEVELOPMENT SCHEDULE PLANNED SCHEDULE For personal use only 15-18 MONTHS pre and post FID Task M-3 M-0 M15 Commence EPCM pre-tender Identify and pre-select long lead items Recruit owner's team key personnel Receipt of regulatory approvals Financial Investme
Slide 16: Production Schedule
Anax Metals Limited DFS WHIM CREEK PROJECT PRODUCTION SCHEDULE 1 DFS Outcomes - Physicals For personal use only CRUSHING AND MINE LIFE LOM TONNES 3 YEARS OPEN PIT SORTING 8.5 years 4.8MT 5.5 years UG (1 year overlap) 800 ktpa DFS CONCENTRATING PFS Mons Cupri, Whim Creek, 400 ktpa Evelyn, Salt Creek
Slide 17: Mons Cupri Open Pit
Anax Metals Limited DFS WHIM CREEK PROJECT MONS CUPRI OPEN PIT 1 For personal use only TOTAL STRIP RATIO 2.55 Mt @ 1.09% Cu, 4.6 to 1 1.29% Zn, 0.56% Pb, 29 g/t Ag and 0.19 g/t Au CRUSHING AND SORTING CONCENTRATING Filled from Month 11 Filled in Month 5 (ore sorting) MINE LIFE 3 MINED STAGES 27 mont
Slide 18: Whim Creek Open Pit
Anax Metals Limited DFS WHIM CREEK PROJECT WHIM CREEK OPEN PIT 1 For personal use only TOTAL STRIP RATIO 720 Kt @ 1.54% Cu 7.3 to 1 (1.14% Zn) MINE LIFE OPEN PIT MINING 21 months (overlaps Completed after ~36 with MC at beginning months and Evelyn at end) Whim Creek Pit Design 1. Refer to ASX announ
Slide 19: Evelyn Underground
Anax Metals Limited DFS WHIM CREEK PROJECT EVELYN UNDERGROUND 1 For personal use only TOTAL INDICATED 583 kt 85% PRIMARILY STOPES UNCONSOLIDATED Some stopes to be dev. waste and/or filled with cemented heap material aggregate LONGHOLE OPEN STOPING 20m level spacing, retreat mining (bottom up) Evelyn
Slide 20: Salt Creek Underground
Anax Metals Limited DFS WHIM CREEK PROJECT SALT CREEK UNDERGROUND 1 Underground – Salt Creek For personal use only LOM ORE INDICATED 973kt 80% STOPES MINE LIFE Some stopes to be 3.5 years (6m overlap filled with cemented with Evelyn) aggregate PRIMARILY UNCONSOLIDATED MINE METHOD dev. waste and/or M
Slide 21: Crushing, Ore Sorting and Classification
Anax Metals Limited DFS CRUSHING ORE SORTING AND CLASSIFICATION 1 For personal use only Process Units Quantity CRUSHING / SCREENING ROM ore feed tpa 800,000 Utilisation % 70 ROM ore feed tph 130 Screened ore (8mm – 60mm) to primary ore tph 98 sorters Screened fines (<8mm) to jigging tph 33 ORE SORTE
Slide 22: Concentrator Plant
Anax Metals Limited DFS CONCENTRATOR PLANT 1 For personal use only Process Units Quantity Mill feed (ore sorter pre-concentrates and IPJ gravity tpa 400,000 concentrates) Utilisation % 92 Feed rate to mill tph 50 Copper concentrate (to sale) tph 5 Lead concentrate (to sale) tph 2 Zinc concentrate (t
Slide 23: Capex
Anax Metals Limited DFS WHIM CREEK PROJECT CAPEX 1 For personal use only Pre-Production Capex Deferred (operations funded) Capex Capital cost Capital cost Main Area Main Area ($M) ($M) Non-process infrastructure (incl. camp, fit out, power, water 9.4 Non-process infrastructure (incl. camp expansion,
Slide 24: Operating Costs
Anax Metals Limited DFS WHIM CREEK PROJECT OPERATING COSTS 1 LOM $/t For personal use only Item $M Ore Mining - OP 143.4 43.7 Contractor mining costs 124.6 Owner’s costs 9.4 General and admin 9.4 Mining – UG 241.5 156.3 Contractor mining costs (Capital Development + Production) 206.0 Owner’s costs 1
Slide 25: Financial and Economic Outcomes
Anax Metals Limited DFS WHIM CREEK PROJECT FINANCIAL AND ECONOMIC OUTCOMES 1 For personal use only Commodity Price Assumptions 2024 to 2028 (Conrad Partners, 2023) MC, WC and Evelyn Year Copper Zinc Lead Silver Gold Metric Unit (US$/t) (US$/t) (US$/t) (US$/oz) (US$/oz) (Exc. Salt Creek) 2024 8,800 3
Slide 26: Cashflow Sensitivities
Anax Metals Limited DFS WHIM CREEK PROJECT CASHFLOW SENSITIVITIES 1 For personal use only Whim Creek Project Cashflow Sensitivity Analysis -/+ 20% (A$m) Rate of Exchange (174) 261 Cu Price (145) 152 % Cu (128) 128 Operating Costs (126) 126 Zn Price (56) 56 % Zn (47) 47 Capital (22) 22 Pb Price (9) 9
Slide 27: Growth
Anax Metals Limited DFS GROWTH For personal use only www.anaxmetals.com.au Email: info@anaxmetals.com.au
Slide 28: Reserve Growth Potential – Evelyn and Salt Creek
Anax Metals Limited DFS RESERVE GROWTH POTENTIAL – EVELYN AND SALT CREEK High grade satellite deposits at Evelyn and Salt Creek are open. Anax plans to drill Evelyn in the second half of 2023 For personal use only Evelyn resource open Salt Creek resource open below 170m (vertical) below ~400m (verti
Slide 29: Exploration
Anax Metals Limited DFS WHIM CREEK PROJECT – EXPLORATION 1 Located in highly prospective Archean granite-greenstones of the Pilbara region, encompassing the width of the Whim Creek Greenstone Belt For personal use only Along strike from the De Grey tenements notable for the recent Hemi discovery
Slide 30: Heap Leach
Anax Metals Limited DFS WHIM CREEK PROJECT HEAP LEACH For personal use only The Whim Creek asset has well maintained heap leach infrastructure that will be suitable for bioleaching low- Heap grade sulphides Electrowinning Plant Anax has completed multiple stages of bioleaching test work from ben
Slide 31: Copper – Growth Driven by an Electric Future
Anax Metals Limited DFS COPPER – GROWTH DRIVEN BY AN ELECTRIC FUTURE For personal use only www.anaxmetals.com.au Email: info@anaxmetals.com.au
Slide 32: Copper – Growth Driven by an Electric Future
Anax Metals Limited DFS COPPER – GROWTH DRIVEN BY AN ELECTRIC FUTURE Quantity of copper in projects sanctioned since 2007 40% of future demand growth is from green technologies For personal use only 2007 - 2012: 2013 - 2017: 2018 – 2021: 203 projects sanctioned 75 projects sanctioned 67 projects san
Slide 33: Summary: Why Invest in Anax Metals?
Anax Metals Limited DFS SUMMARY Why Invest in Anax Metals? For personal use only Robust DFS metrics support low capex, fast payback, highly profitable mining operations Potential for Whim Creek to monetise stranded Pilbara base & precious metals projects as regional production hub Whim Creek t
Slide 34: Appendices
APPEDICIES For personal use only Massive sulphide copper-zinc mineralisation in 22AED003 and 22AED004A * *Reported: Everly Underground Mining and Metallurgy Studies Finalised 20 February 2023*
Slide 35: Appendix 1: Resources and Reserves
Anax Metals Limited DFS Appendix 1: RESOURCES AND RESERVES RESERVES For personal use only Ore Cu Zn Pb Ag Au Classification Deposit Mt % % % ppm ppm Mons Cupri 1.06 1.46 1.58 0.68 38 0.28 Proven Sub-total 1.06 1.46 1.58 0.68 38 0.28 Mons Cupri 1.49 0.83 1.08 0.47 23 0.14 Whim Creek 0.72 1.54 1.14 0.
Slide 36: Appendix 3: Source Documents (Whim Creek Processing Hub)
Anax Metals Limited DFS Appendix 3: SOURCE DOCUMENTS (WHIM CREEK PROCESSING HUB) For personal use only Company Name Source Documents Sabre Resources https://www.asx.com.au Artemis Resources: https://wcsecure.weblink.com.au • Whundo • Munni Munni https://www.asx.com.au • Whundo Ayshia https://www.ali
Slide 37: Thanks
Anax Metals Limited DFS THANKS For personal use only Contact: Geoff Laing (Managing Director) Address: Ground Floor West, 20 Kings Park Road E-mail: info@anaxmetals.com.au Phone: +61 8 6143 1840 Website: www.anaxmetals.com.au www.anaxmetals.com.au Email: info@anaxmetals.com.au