Boab Metals Ltd · ASX:BML
Boab Metals — RIU Conference 2024
23 slides from Boab Metals's conference presentation, Feb 13, 2024
Slide 1: Advancing the Sorby Hills Lead-Silver Project Toward a Final Investment Decision
For personal use only Advancing the Sorby Hills Lead-Silver Project Toward a Final Investment Decision RIU Conference - 13 February 2024
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Compliance Statement For personal use only Certain statements in the presentation are or may be “forward-looking statements” and The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore represent the Company’s intentions, projections
Slide 3: Corporate Summary and Share Price History
Boab Metals Corporate Summary Share Price History 8.0 0.80 For personal use only Capital Structure (12 February 2024) 6.0 0.60 Share Price Debt Volumne (millions) Share Price (A$/sh) A$0.115 / share Nil 4.0 0.40 Shares on Issue Cash 183 million shares A$2.3 million (31 December 2023) 2.0 0.20 Market
Slide 4: High Quality Resource Estimate
Sorby Hills Project High Quality Resource Estimate Grade Contained Metal Tonnes Deposit Pb Zn Ag PbEq1 Pb Zn Ag For personal use only (Mt) % % g/t % kt kt koz A 0.6 5.3% 0.1% 23 6.1% 31 6 427 B 2.7 3.6% 0.3% 20 4.3% 97 8 1,720 Omega 17.2 3.3% 0.4% 34 4.5% 566 71 18,948 Norton 21.1 2.8% 0.4% 34 4.0%
Slide 5: Low Risk Open Pit Ore Reserve
Sorby Hills Project Low Risk Open Pit Ore Reserve DFS Production Target For personal use only Total Waste ROM Pb Ag PbEq Strip Pit (Mt) (Mt) (Mt) (%) (g/t) (%) Ratio Pit A 4.1 3.7 0.5 3.7 16.4 4.3% 8.1 Pit B 14.8 12.6 2.3 3.2 17.4 3.8% 5.5 Omega South 21.1 18.3 2.8 2.9 29.5 3.9% 6.5 Omega Main 57.7
Slide 6: Definitive Feasibility Study Highlights
Sorby Hills Project Definitive Feasibility Study DFS Highlights For personal use only Lead A$245m pre- C1 cash cost 543 thousand payable tonnes production Capex A$1,790 Million Revenue US$0.39/lb payable Pb underpinned 75% Incl. net Silver credit of by tendered pricing US$0.38/lb payable Pb Average
Slide 7: Development Ready
Sorby Hills Project Development Ready ▪ GRES has recently completed FEED For personal use only Primary Crusher Workstreams ▪ FEED output has resulted in: ▪ detailed plant design; Flotation Circuit ▪ optimised site layout; ▪ the issue of tender packages for long-lead items; and Filter Press SAG Mill
Slide 8: Confirmed Low-Cost Producer
Sorby Hills Project Confirmed Low-Cost producer Independently confirmed as a 1st Quartile Project For personal use only on the Global Lead cost curve ▪ Forecast Project ex works 2027 Lead Cost Curve (ex-works basis) Operating Costs covered by 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile a his
Slide 9: Supplying the Proven Battery Metal
Sorby Hills Project Supplying the proven Battery Metal Lead demand growth underpinned by mature and For personal use only emerging vehicle technologies 1. www.batteryinnovation.org/resources/lead-battery-market-data/ “…. low voltage 12V lead- Forecast Light Vehicles Sales versus Lead Demand1 based b
Slide 10: Significant Intercepts post Mineral Resource Estimate 2021
Sorby Hills Project Significant Intercepts post Mineral Resource Estimate 2021 Phase V – 15 holes not yet included in Mineral Resource Estimate For personal use only ▪ SHRC_123 (Beta): 27m @ 3.47% Pb & 37g/t Ag from 34m: ▪ Incl. 3m @ 7.04% Pb & 95g/t Ag from 35m; 5m @ 5.60% Pb & 44g/t Ag from 45m; a
Slide 11: Keep Seismic Target
Sorby Hills Project Keep Seismic Target Keep Seismic Target ▪ 1st drill hole indicates potential for a new discovery (2 km south of Potential Discovery located 2km from the existing Sorby Hills Reserves). For personal use only existing Sorby Hills Deposits ▪ New Zone located within favourable struct
Slide 12: Strategic Growth Opportunities
Sorby Hills Project Strategic Growth Opportunities Manbarrum Zn-Pb-Ag Project Vision to establish a long-life presence in the east ▪ located 25km east of the Sorby Hills Project. For personal use only Kimberley Region ▪ Mineral Resources declared at two prospects Figure: which are zinc and silver do
Slide 13: Delivering Silver Exposure to Investors
Sorby Hills Project Delivering Silver Exposure to Investors The Sorby Hills Project and Boab Metals offer For personal use only rare ASX exposure to Silver Price movements ▪ Boab’s share price has BML Share Price vs AUD Silver Price historically demonstrated a 9.0 0.90 strong correlation with the 8.
Slide 14: Investment Opportunity and Near Term News Flow
Boal Metals Investment Opportunity Near Term News Flow and Ongoing Activities ▪ Complete ongoing Optimisation Workstreams and Progress For personal use only The past 12 Months Project Approvals. • Updated Tailings Strategy to reduce execution risk and improve project cashflows. 22% - DFS vs PFS NPV
Slide 15: Thank You
For personal use only Thank You Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals
Slide 16: Board and Technical Team
Board and For personal use only Technical Team Gary Comb Simon Noon Richard Monti Andrew Parker Chairman Managing Director Non-Exec. Director Non-Exec. Director and CEO Board and Management Engineer with over 30 Experienced mining Geologist with over 30 Lawyer with significant with a proven track ye
Slide 17: Capital Cost Breakdown
Sorby Hills Definitive Feasibility Study Capital Cost Breakdown For personal use only Tendered Pricing for 75% of Item Pre-production (A$M) Sustaining (A$M) Total (A$M) Capital Costs to reduce the Early Works / Bulk Earthworks / Road Construction 9.9 15.7 25.6 risk of pre-FID cost escalation. Proces
Slide 18: Appendix
Appendix For personal use only Appendix Boab Metals Limited ASX:BML 18
Slide 19: Life of Mine Physicals
Sorby Hills Definitive Feasibility Study Life of Mine Physicals PHYSICALS SUMMARY Unit Total FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 For personal use only ROM Mined Mt 18.3 - - 2.1 2.1 2.3 2.5 1.9 2.2 1.8 3.3 - - Waste Mined Mt 134.6 - - 11.7 11.6 12.2 24.3 26.1 25.6 19.6 3.5 - -
Slide 20: Operating Cost Breakdown
Sorby Hills Definitive Feasibility Study Operating Cost Breakdown For personal use only Competitive C1 cash cost of US$0.39/lb Total Unit Costs Item payable Pb (including Silver Credits). (A$M) A$/t ore US$/lb payable Pb Mining 591 32.4 0.34 ~80% of Mining Costs underpinned by Processing 391 21.4 0.
Slide 21: Resource Classification by Deposit
Sorby Hills Project Resource Classification by Deposit Grade Contained Metal For personal use only Tonnes Deposit Classification Pb Zn Ag PbEq1 Pb Zn Ag (Mt) % % g/t % kt kt koz Inferred 0.6 5.3% 1.0% 23 6.1% 31 6 427 A Sub Total 0.6 5.3% 0.1% 23 6.1% 31 6 427 Measured 1.4 3.8% 0.3% 19 4.5% 52 4 859
Slide 22: Establishing Deep Roots within the Local Community
Boab Metals Establishing Deep Roots within the Local Community For personal use only Boab is extremely proud to be the Naming Rights Sponsor of the Ord Valley Muster for 2023 and beyond. • Sense of community plays a key role in economic and social well-being of stakeholders across the east Kimberley
Slide 23: Metal Equivalent Calculations
Metal Equivalent Calculations For personal use only The contained metal equivalence formula It is Boab’s opinion that all elements included in the metal equivalent calculation have a reasonable is based on the Sorby Hills DFS including: potential to be recovered and sold. The formula used to calcula