Wa1 Resources Ltd · ASX:WA1
Wa1 Resources — Diggers & Dealers Mining Forum 2025
24 slides from Wa1 Resources's conference presentation, Aug 5, 2025
Slide 1: Luni Niobium Project: A Once in a Generation Discovery
Nb For personal use only LUNI NIOBIUM PROJECT A ONCE IN A GENERATION DISCOVERY DIGGERS AND DEALERS MINING FORUM 2024 Best Emerging Company CORPORATE PRESENTATION AUGUST 2025
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER Nature of Document: This presentation has been prepared and issued by WA1 Resources Not an offer: This presentation and its contents are not an invitation, offer, solicitation or Ltd (WA1, the Company) to provide general information about the Company. The recommendat
Slide 3: For personal use only
Nb The Luni niobium deposit was discovered late 2022, with the first ferroniobium sample produced in 2024 and an Indicated MRE reported mid-2025 100% owned by WA1 For personal use only A$73M in cash to advance key Project workstreams1 Strong share register of long-term institutional investors Board
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT CAPITAL STRUCTURE BOARD OF DIRECTORS Share price (4 August 2025) A$16.40 Kathleen Bozanic Non-Executive Chair For personal use only Shares on issue 68.4M Paul Savich Managing Director Performance rights 0.4M Tom Lyons Executive Director Market capitalisation (undiluted) A$1,121M L
Slide 5: Luni Mineral Resource Estimate
LUNI MINERAL RESOURCE ESTIMATE1 ▪ The Luni niobium deposit now contains a substantial Indicated MRE: ▪ 73 Mt at 1.38% Nb2O5 within a total MRE of 220 Mt at 1.0% Nb2O5 For personal use only 200 46% of contained ▪ The Indicated MRE contains a high-grade subset of: 73 Mt niobium classified at 1.38% as
Slide 6: Niobium Industry Ferroniobium Flowsheets
NIOBIUM INDUSTRY FERRONIOBIUM FLOWSHEETS ▪ The three existing niobium mines follow a similar flowsheet to produce a ferroniobium end-product for direct use in the steelmaking process For personal use only ▪ WA1 is applying a similar conventional flowsheet which is utilised at the three existing mine
Slide 7: Proof of Concept Ferroniobium Testwork
PROOF OF CONCEPT FERRONIOBIUM TESTWORK1 1 2 3 CONVERSION TO REFINING For personal use only BENEFICIATION FERRONIOBIUM (Hydrometallurgy) (Pyrometallurgy) Crushing, Grinding and Conversion Vessel Calcining (Aluminothermic Reaction) LUNI Desliming MINERALISATION Phosphate Flotation HCl Wash (Stage 1) N
Slide 8: Product Mix Enables Opportunity
PRODUCT MIX ENABLES OPPORTUNITY1 CONVERSION TO REFINING TO REFINING BENEFICIATION FERRONIOBIUM NIOBIUM OXIDE (Hydrometallurgy) For personal use only (Pyrometallurgy) (Hydrometallurgy) Crushing, Grinding and Conversion Vessel Calcining HF Leach LUNI Desliming (Aluminothermic Reaction) MINERALISATION
Slide 9: From Emerging to Essential in Years
FROM EMERGING TO ESSENTIAL IN 60 YEARS RESOURCE GRADE OF KEY NIOBIUM PRODUCERS1 (Nb2O5) KEY NIOBIUM PRODUCTION2 2.5% 125 Niobium production (FeNb eq. ktpa) For personal use only Products: FeNb Nb2O5 100 75 Two producers dominate global Products: FeNb 50 niobium output Products: FeNb 25 - 1964 1969 1
Slide 10: Modern Steelmaking Demands More Ferroniobium
MODERN STEELMAKING DEMANDS MORE FERRONIOBIUM NIOBIUM DEMAND BY TYPE1 ▪ Global ferroniobium production is currently ~115ktpa with a price of ~US$30,000/t1 For personal use only ▪ Ferroniobium (FeNb) is an alloy typically containing ~65% Nb ▪ Ferroniobium is primarily utilised as a micro-alloy in high
Slide 11: Niobium in Modern Steelmaking
NIOBIUM IN MODERN STEELMAKING ▪ Ferroniobium is a micro-alloy which is added to steel in quantities as low as 0.02% Nb1 Eiffel Tower3 – France (1889) For personal use only Used 7kt of wrought iron ▪ Niobium is the most efficient micro-alloy for grain refinement Could be built using 2kt of niobium-al
Slide 12: The Only Replacement for Steel Is Better Steel
THE ONLY REPLACEMENT FOR STEEL IS BETTER STEEL For personal use only Steel will not become obsolete, it will continue to be optimised. With niobium, it is future ready. 12 | Refer to appendices for full list of references
Slide 13: Niobium Oxide: Growing Demand, Strategic Value
NIOBIUM OXIDE: GROWING DEMAND, STRATEGIC VALUE1 NIOBIUM DEMAND BY TYPE ▪ Niobium oxide production is currently ~18ktpa with a price of ~US$52,000/t of Nb2O5 For personal use only NIOBIUM OXIDE ▪ Niobium oxide is a critical material and esential across a variety 12% of industries including the defenc
Slide 14: A Critical Mineral Supplied by Few, Demanded by Many
A CRITICAL MINERAL SUPPLIED BY FEW DEMANDED BY MANY Niobium supply1 For personal use only Niobium demand1 Niobium listed as critical2 CANADA 8% EUROPE 20% NORTH AMERICA 17% JAPAN Favourable market CHINA 9% dynamics amplified by 37% current geopolitical climate 11% SOUTH KOREA 6% EU Critical Mineral
Slide 15: The World's Best Niobium Mine
THE WORLD’S BEST NIOBIUM MINE ▪ The Araxá niobium deposit was discovered in 19531 ▪ The mineral rights are jointly owned by the State of Minas For personal use only Gerais and CBMM ▪ CBMM is the sole operator - processing and marketing niobium products from the Araxá mine2 ▪ The State of Minas Gerai
Slide 16: Developing One of Australia's Most Strategic Critical Mineral Projects
DEVELOPING ONE OF AUSTRALIA’S MOST STRATEGIC CRITICAL MINERAL PROJECTS For personal use only Mine Design Process Testwork Environmental Indicated MRE informing mine Ongoing testwork to refine process Targeted surveys and design and ongoing pre- flowsheet development across the studies to support for
Slide 17: Indicated MRE Supporting Mine Design
INDICATED MRE SUPPORTING MINE DESIGN1 ▪ 46% of the niobium contained within the Luni MRE is in the Indicated category 73 Mt For personal use only ▪ The Indicated MRE is being utilised to inform mine design and at 1.38% development studies, and is split between two key zones providing 70 optionality
Slide 18: Drilling to Support Development
DRILLING TO SUPPORT DEVELOPMENT1 ▪ Three drill rigs in operation at Luni, with a focus on resource definition and pre-development activities ▪ Drilling has been completed across a broad area to inform site design and disturbance envelopes For personal use only ▪ Hydrogeological bore installation and
Slide 19: Key Infrastructure Established for Ongoing Development Activities
KEY INFRASTRUCTURE ESTABLISHED FOR ONGOING DEVELOPMENT ACTIVITIES For personal use only 19 |
Slide 20: Caring for Country
CARING FOR COUNTRY On-country studies in partnership with local ranger groups For personal use only 20 |
Slide 21: WA1 in the Community
WA1 IN THE COMMUNITY Creating opportunities in Australia's most remote communities For personal use only 21 |
Slide 22: Advancing an Essential Critical Mineral Project
For personal use only ADVANCING AN ESSENTIAL CRITICAL MINERAL PROJECT FOR THE CONSTRAINED, HIGH-VALUE NIOBIUM MARKET Investors Media Paul Savich Michael Vaughan Managing Director Fivemark Partners WA1 Resources Ltd E: psavich@wa1.com.au E: michael.vaughan@fivemark.com.au Lvl 2, 55 Carrington Street,
Slide 23: Appendix A - References and Notes
APPENDIX A - REFERENCES AND NOTES SLIDE 3 2. Source: Magris Performance Metals “2023 Sustainability Report”, viewed at 1. Cash balance as at 30 June 2025 <https://minedocs.com/27/MagrisResourcesInc-ESG-2023.pdf> on 7/7/2025 2. For full details refer to WA1 website and previous ASX announcements SLID
Slide 24: Appendix B – Mineral Resource & Competent Person Statements
APPENDIX B – MINERAL RESOURCE & COMPETENT PERSON STATEMENTS Tonnes Nb₂O₅ Nb₂O₅ (%) P₂O₅ (%) P₂O₅ (kt) For personal use only (Mt) (kt) Indicated 73 1.38 1,000 11.3 8,200 Inferred 150 0.8 1,200 9.9 15,000 Total 220 1.0 2,200 10.3 23,000 1. Mineral Resources are classified and reported in accordance wi