Eq Resources Limited · ASX:EQR
Eq Resources — Merger or Acquisition (August 2023)
23 slides from Eq Resources's merger presentation, Aug 15, 2023
Slide 1: Investor Update: Saloro Acquisition / Wolfram Camp Opportunities
INVESTOR UPDATE Webinar: Saloro Acquisition / Wolfram Camp Opportunities August 15th, 2023 ASX : EQR
Slide 2: Disclaimer
Disclaimer Competent Person's Statement • The information in this presentation relates to the most recent Company announcements, details are available through the Company’s website www.eqresources.com.au/. • The Company confirms that it is not aware of any new information that materially affects the
Slide 3: Agenda
Agenda WO3 Mt Carbine Project EQR Plan for Saloro Update Saloro Acquisition: Wolfram Camp: Tungsten Strategic Rationale Cluster Development Saloro Transaction Summary 3
Slide 4: Mt Carbine Project Update
Mt Carbine Project Update Ramp-up Discussion • Ramping up production in line with open pit ore output (130-150t of 50% WO3 concentrate forecast for August). • All plants are working well and holding recovery at +80% on open pit ore. • New XRT Ore Sorter (#3) has increased efficiency and run time on
Slide 5: Agenda
Agenda WO3 Mt Carbine Project EQR Plan for Saloro Update Saloro Acquisition: Wolfram Camp: Tungsten Strategic Rationale Cluster Development Saloro Transaction Summary 5
Slide 6: Strategic Rationale to expand to EU Tungsten Market
Strategic Rationale to expand to EU Tungsten Market at 3420OC highest melting as carbide compound hardest point of all metals element after diamond Tungsten is ranked by the British Geological Surveys, various US Departments, the European Commission, Japan, South Korea and Australia as a 'critical m
Slide 7: Strategic Rationale – Western #1 Producer
Strategic Rationale – Western #1 Producer • Combination of EQR’s Mt Carbine Tungsten Mine (currently Australia’s main export source) and Saloro’s Barruecopardo Tungsten Mine (EU’s largest independent producer) under one roof offers an attractive value proposition: − Creates the largest tungsten conc
Slide 8: Mt Carbine & Barruecopardo – Global Relevance
Mt Carbine & Barruecopardo – Global Relevance • Arguably the two best producing tungsten assets today, with similar characteristics: – Both in Tier 1 locations – Similar mineralogy: Both are hosted in sheeted quartz – Complementary geology: Granite (Barruecopardo) and Metasediments (Mt Carbine) – Id
Slide 9: Extended EQR Marketing Plan (optionality)
Extended EQR Marketing Plan (optionality) • As a producing asset, Saloro provides a high commercial readiness level, under combined management the focus will be on extending EQR’s existing downstream partnerships with Cronimet and Masan Group • Cronimet is a well established FeW producer and -trader
Slide 10: Agenda
Agenda WO3 Mt Carbine Project EQR Plan for Saloro Update Saloro Acquisition: Wolfram Camp: Tungsten Strategic Rationale Cluster Development Saloro Transaction Summary 10
Slide 11: Transaction Summary – Key Terms
Transaction Summary – Key Terms • EQR through its wholly-owned subsidiary, European Tungsten Pty Ltd, agreed to acquire 100% of Saloro for a nominal consideration of EUR1 • European Tungsten also acquired the benefit of all of the intercompany loans owed by Saloro to the Oaktree Group (which is appr
Slide 12: Agenda
Agenda WO3 Mt Carbine Project EQR Plan for Saloro Update Saloro Acquisition: Wolfram Camp: Tungsten Strategic Rationale Cluster Development Saloro Transaction Summary 12
Slide 13: Saloro’s Journey – 2018-2022
Saloro’s Journey – 2018-2022 13
Slide 14: Saloro’s Journey – today
Saloro’s Journey – today 14
Slide 15: Plan for Saloro Operations
Plan for Saloro Operations Optimisation projects initiated and ongoing Early Focus – Sorting & Metallurgical: - Key to work with existing management and execute on complementary skill sets World class - XRT Sorter production plant - First sorter installed; intermittent operations ongoing testing ore
Slide 16: Plan for Saloro Exploration Works
Plan for Saloro Exploration Works World class Geology: production plant - Pit Mapping of Alteration & Fluid Flow Vectors - Structural review of pit - low angle structures & reflection on depth Well established - Regional Mining areas - dumps & potential “Find the next management (high plant availabi
Slide 17: Plan for Saloro Exploration Works
Plan for Saloro Exploration Works “Find the next Barruecopardo” 17
Slide 18: Strong ESG Credentials
Strong ESG Credentials Saloro is operating without incident beside a National Park and inside an EU Nature Network 2000 Bird Protection Zone. Environmental initiatives include: • Site wide and surrounding area Environmental Monitoring • Endangered species marking, census and radio tracking during mi
Slide 19: Strong ESG Credentials
Strong ESG Credentials Saloro has strived from Day 1 to include all stakeholders and interested parties in the development and operation of the mine. Social initiatives include: • Fluid dialogue maintained with all Local and Provincial institutions, and NGO’s • Collaboration Agreement with local cou
Slide 20: Agenda
Agenda WO3 Mt Carbine Project EQR Plan for Saloro Update Saloro Acquisition: Wolfram Camp: Tungsten Strategic Rationale Cluster Development Saloro Transaction Summary 20
Slide 21: Wolfram Camp Opportunity (early stage)
Wolfram Camp Opportunity (early stage) Strategic Rationale: - Within 2-hours from Mt Carbine by good road infrastructure - Potential access to historic processing plant - Able to share management costs - Potential for a processing hub (“tungsten cluster”) - Strong potential for economic deposit - Go
Slide 22: Wolfram Camp Opportunity (early stage)
Wolfram Camp Opportunity (early stage) Tungsten Cluster - Two Primary Exploration Zones Watershed - 477 km2 area Mt Carbine - Over 20 historical prospects and mines - Major areas of Wolfram Camp & Bamford Hill Wolfram Camp Cluster potential - significant deposits defined in region - Historic Waste D
Slide 23: Follow us on
Site Contact: Investor Relations: Kevin MacNeill Peter Taylor Chief Executive Officer NWR Communications T: +61 438 542 260 T: +61 412 036 231 E: kmacneill@eqresources.com.au E: peter@nwrcommunications.com.au Registered Office: Mt Carbine Office: Level 4, 100 Albert Road 6888 Mulligan Highway, South