Igo Limited · ASX:IGO
Igo — Australian Nickel Conference 2023
23 slides from Igo's conference presentation, Oct 4, 2023
Slide 1: ASX Release: Presentation to Australian Nickel Conference
ASX RELEASE 4 October 2023 PRESENTATION TO AUSTRALIAN NICKEL CONFERENCE IGO Limited (ASX: IGO) (IGO or the Company) is pleased to attach a copy of the presentation provided to the Australian Nickel Conference which is being held in Perth this week. IGO’s Acting Chief Executive Officer, Matt Dusci, w
Slide 2: IGO Limited Australian Nickel Conference
IGO Limited Australian Nickel Conference Matt Dusci – Acting Chief Executive Officer 4 October 2023 IGO IGO LIMITED LIMITED | ASX: IGO
Slide 3: Cautionary Statements & Disclaimer
Cautionary Statements & Disclaimer • This presentation has been prepared by IGO Limited (“IGO”) infrastructure. Where such a reference is made, it should be sold) per tonne sold are inclusive of ore mining costs, (ABN 46 092 786 304). It should not be considered as an offer read subject to this para
Slide 4: Our Strategy
Our Strategy Aligned to our purpose – Making a Difference To be a globally relevant supplier of products critical to the clean energy transition Diverse suite of products Made safely, ethically, sustainably and reliably Vertically Integrated Linking upstream and downstream into the supply chain Net
Slide 5: Our Portfolio
Our Portfolio Diverse, Australia based clean energy metals portfolio with a pipeline of growth Greenbushes Lithium Operation Upstream Nova Operation Forrestania Operation Kwinana Lithium Hydroxide Refinery Downstream IBMF pCAM Facility (Study) Cosmos Project Greenbushes Expansions Growth Kwinana Lit
Slide 6: Nickel Market
Nickel Market Strong market dynamic over the medium to long term Primary Nickel Supply/Demand Balance (Kt Ni)1 8,000 Rapid expansion of Indonesian supply (of Class 2 500 nickel) has delivered surplus nickel unit supply over 7,000 250 the short term – transitioning to deficit by 20281 1.5Mt Deficit 6
Slide 7: Nickel Market
Nickel Market Growth in Indonesian supply has been significant Primary nickel supply by geography (Kt Ni)1 3,500 70% 3,000 60% 35% 35% Nickel supply from Indonesia has increased significantly 2,500 36% 36% 50% 37% 5% since 2015, now accounting for ~45% of global supply 2,000 41% 4% 5% 40% 46% 4% 8%
Slide 8: Nickel Market
Nickel Market Type and source of nickel is becoming increasingly important Carbon intensity of nickel sources (KgCO2 equiv. per kg Ni)1 70 Product provenance, ESG credentials and supply chain ~5x more carbon intensive diversity are of critical importance to battery 60 60 manufactures and OEMs 50 45
Slide 9: Financial Results
Financial Results Record financial performance delivered in FY23 FY23 NPAT FY23 Underlying EBITDA FY23 Underlying Free Cash Flow A$549M A$1,987M A$1,098M 5491 549 2 1,098 Gain on sale of Tropicana 1,987 252% 177% 331 363 155 717 311 312 278 460 475 76 164 341 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21
Slide 10: Sustainability
Sustainability Advancing our commitment to sustainability Community FY23 Corporate giving contributions: $800k FY23 Spend with Aboriginal owned & managed businesses: $8.3M Dow Jones Sustainability Index – Australia Dow Jones Sustainability Index – Asia Pacific Decarbonisation Internal carbon price i
Slide 11: Nickel Business
Nickel Business IGO Limited | Australian Nickel Conference
Slide 12: Our Nickel Business
Our Nickel Business Building an integrated nickel business Strong portfolio of production assets… …with significant organic growth & value creation opportunities. Nova Operation Forrestania Operation Cosmos Project Downstream Exploration Production Production Feasibility study & partnering Ongoing p
Slide 13: Nova
Nova Strong operational and financial delivery in FY23 Nova Production & Costs1,2 FY23 Performance 35Kt $6.0/lb Production delivered just below guidance, with 30Kt costs within guidance $5.0/lb • 22,915t nickel 25Kt $4.0/lb • $3.54/lb cash costs 20Kt $3.54/lb $2.78/lb $3.0/lb • EBITDA Margin: 62% $1
Slide 14: Forrestania
Forrestania Solid performance over FY23 Forrestania Quarterly Production & Costs1 FY23 Performance 4,000t $12.0/lb $10.97/lb Production and costs delivered within guidance: $10.27/lb 3,500t $8.70/lb $10.0/lb • 11,931t nickel $8.67/lb 3,000t • $9.65/lb cash costs $8.0/lb 2,500t • FY23 EBITDA margin:
Slide 15: Cosmos
Cosmos Project development progressing | Project review underway Project development progressed during FY23 Processing plant construction >85% complete Shaft and key shaft infrastructure >85% complete Paste fill plant completed, commissioned and handed Underground chambers for materials hand
Slide 16: Integrated Battery Materials Facility
Integrated Battery Materials Facility The next phase of our downstream strategy Proposed IBMF will convert nickel sulphide into IGO PCAM Battery Industry Ni Sulphide cathode precursor for the battery sector. Concentrate ProcessTM Material End product Key work undertaken to date: Multiple campaigns
Slide 17: Downstream Nickel
Downstream Nickel Disruptive pathway for moving nickel from mine to battery Traditional Route IGO Integrated Approach Nickel Concentrate Nickel Concentrate (including low-quality concentrates typically rejected by smelters) Fragmented Supply Chain Smelting Integrated Facility IGO ProcessTM • High Ca
Slide 18: Lithium Business
Lithium Business IGO Limited | Australian Nickel Conference
Slide 19: Greenbushes
Greenbushes Outstanding operational and financial performance in FY23 Greenbushes Production (100%) FY23 Performance Spodumene Planned total capacity concentrate ~2.5Mtpa Strong yearly production delivered within guidance: CGP4 • Spodumene production of 1.49Mt ~520ktpa (520ktpa) Subject to FID • Cas
Slide 20: Kwinana Refinery
Kwinana Refinery Train 1 performance delayed, but rectification works are progressing Train 1 FY23 production of 1,884t of lithium hydroxide was below expectations due to operational challenges Rectifications works are being progressed, with production ramp-up expected to continue during FY24 Train
Slide 21: Summary
Summary IGO Limited | Australian Nickel Conference Page 20
Slide 22: Summary
Summary Building a globally relevant clean energy metals business High quality portfolio of production, development and exploration assets across the battery metals space Outstanding FY23 financial results with record NPAT, underlying EBITDA and free cash flow Strong financial position has enabled r
Slide 23: Making a Difference
Making a We believe in a world where people power makes How? Developments in battery storage technology amazing things happen. are enabling the full potential of renewable energy to be realised, by allowing energy produced from the Where technology opens up new horizons and clean sun, wind and other