First Tin Plc · LSE:1SN
First Tin — Investor Presentation (December 2022)
28 slides from First Tin's investor presentation, December 2022
Slide 1: Ethical and Reliable Tin Supply for a More Sustainable World
ETHICAL AND RELIABLE TIN SUPPLY FOR A MORE SUSTAINABLE WORLD December 2022 1
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER This document (“Presentation”) has been prepared by First Tin Limited, a private limited company incorporated and registered in England Australian Disclosure and Wales under company number 07931518 (to be re-registered as a public limited company) (“Company”) in connection with a If
Slide 3: Tellerhäuser Deeps Drilling Ahead 2022
TELLERHAUSER DEEPS DRILLING AHEAD 2022 HIGH GRADE POTENTIAL UNDERGROUND RESOURCE EXPANSION FIRST TIN | Corporate Presentation – December 2022 3
Slide 4: Taronga Drilling Update
TARONGA DRILLING UPDATE FIRST TIN | Corporate Presentation – December 2022 4
Slide 5: 2022 a Tough Year but Tin May Have Bottomed
2022 A TOUGH YEAR BUT TIN MAY HAVE BOTTOMED 2022 METALS PRICE PERFORMANCE 2022 TIN PRICE Nickel Lead Zinc Aluminium Copper Tin -60% -50% -40% -30% -20% -10% 0% 10% Source: LME FIRST TIN | Corporate Presentation – December 2022 5
Slide 6: Achievements and Future Milestones
ACHIEVEMENTS AND FUTURE MILESTONES ACHIEVEMENTS TO DATE FOCUS FOR 2023 2022 MILESTONES (FULLY FUNDED) • IPO on LSE and £20 million fundraise • Exploration and resource drilling • Acquisition of the Taronga asset in NSW, Australia • Complete Feasibility Studies on Tellerhäuser and Taronga • Commenced
Slide 7: Corporate Highlights: First Tin Offers
CORPORATE HIGHLIGHTS FIRST TIN OWNS TWO ADVANCED, LOW CAPEX TIN DEVELOPMENT ASSETS IN TIER 1 JURISDICTIONS ESG COMPLIANT: First Tin owns two hard rock assets in the Tier 1 jurisdictions of Germany and Australia; both High-value, non-alluvial and both from non-artisanal production low-capex assets LA
Slide 8: Few Substantial, Economic Tin Deposits in Tier-One Jurisdictions
FEW SUBSTANTIAL, ECONOMIC TIN DEPOSITS IN TIER-ONE JURISDICTIONS TIN SUPPLY/DEMAND LONG TERM DEFICIT EXPECTED Refined tin, ‘000 tonnes 550 Supply Demand 500 450 400 350 Source: International Tin Association 300 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 Source: Internation
Slide 9: Market Moves Back Towards Balance: Demand for Tin in 2023
DEMAND FOR TIN IN 2023 CONSUMER ELECTRONICS WEAK, SOLAR AND EV STRONG International Tin Association: Market Drivers in 2023 CONSUMER SECTORS PRESSURED • High inflation levels in established economies MARKET • Slowing growth in emerging economies MOVES BACK TOWARDS UNDERLYING TECH TRENDS CONTINUE BAL
Slide 10: Tech Trends Making Headway
TECH TRENDS MAKING HEADWAY TIN CONSUMPTION TRENDS ACCELERATE Source: International Tin Association Strong solar growth to continue Global data expansion accelerating Refined tin consumption, ‘000 tonnes Annual size of global datasphere, ZB EVs now 15% of car sales ‒ 2x tin use in electronics 200 30
Slide 11: First Tin: Top Undeveloped Tin Deposits
FIRST TIN TOP UNDEVELOPED TIN DEPOSITS #5 Classification Deposit Tonnage % Sn Contained Tin (Mt) (%) (t) Tellerhäuser 2.0 1.0 19,000 Indicated Gottesberg 2.0 0.48 9,000 BY ITA Taronga 27 0.17 45,000 GLOBAL TIN Total 31 0.24 73,000 RESERVES* Tellerhäuser 3.3 1.0 34,000 Inferred Gottesberg 4.8 0.49 24
Slide 12: Tellerhäuser: Part of a Tin District in Saxony
TELLERHÄUSER PART OF A TIN DISTRICT IN SAXONY Former GDR mine, good conditions underground, major existing infrastructure benefits $49m start-up capex Low CapEx enhances the economics @ $25,000/t tin NPV $173m, C1 cost $12,203/t and IRR 43% Multiple exploration targets in established “Tin Triangle”
Slide 13: Recent Drilling at Gottesberg II
TELLERHÄUSER PART OF A TIN DISTRICT IN SAXONY RECENT DRILLING AT GOTTESBERG II BY FIRST TIN • 73.3m @ 0.49% Sn from 91.7m • 2.5m @ 2.72% Sn from 128.2m • 6.95m @ 1.46% Sn from 143.65m • 6.5m @ 0.98% Sn from 124.7m FIRST TIN | Corporate Presentation – December 2022 13
Slide 14: Tellerhäuser: Significant Leverage to Higher Tin Prices
TELLERHÄUSER SIGNIFICANT LEVERAGE TO HIGHER TIN PRICES HIGH GRADE, UNDERGROUND DEVELOPMENT, 50-YEAR MINING LICENSE SN price Pre-tax NPV8 IRR Capex (US$/t) (US$m) (%) (US$m) $20,000 82 26 49 $25,000 173 43 49 $30,000 264 58 49 $40,000 445 87 49 Pre-Tax NPV8, from 2021 Optimised Scoping Study at Telle
Slide 15: Tellerhäuser: DFS, Exploration and Permitting Update
TELLERHÄUSER DFS, EXPLORATION AND PERMITTING UPDATE • Commencement of extensive diamond drilling programme at Tellerhäuser. First assay results expected during Q4 2022 • Commencement of DFS at Tellerhäuser in August 2022 led by DMT GmbH & Co. KG. Expected for completion by Q4 2023 • EIA pre check su
Slide 16: Taronga: 5th Largest Undeveloped Tin Reserve Globally
TARONGA 5TH LARGEST UNDEVELOPED TIN RESERVE GLOBALLY Ongoing test work on coarse cassiterite, ore-sorting, and selective crushing to reduce the size of the back-end plant $76m start-up capex Open pit and low operating costs enhance the economics @ $25,000/t tin NPV $90m, C1 cost $14,303, IRR 38% Lan
Slide 17: Taronga: Mining Friendly Jurisdiction; Excellent Infrastructure
TARONGA MINING FRIENDLY JURISDICTION; EXCELLENT INFRASTRUCTURE • One of the simplest hard rock tin deposits in the World • Coarse cassiterite (tin ore mineral SnO2) in sheeted veins • Rock tends to break along veins exposing cassiterite • Cassiterite thus liberates easily and simply, largely at crus
Slide 18: Taronga: Large Tonnage, Low Strip Ratio and Simple Metallurgy
TARONGA LARGE TONNAGE, LOW STRIP RATIO AND SIMPLE METALLURGY OPEN PIT, EASY MINERALOGY, FREEHOLD LAND SN price Pre-tax NPV8 IRR Capex (US$/t) (US$m) (%) (US$m) TIN $20,000 12 13 76 PRODUCTION $25,000 90 38 76 • 2,815 tpa $30,000 169 59 76 contained $40,000 326 100 76 Sn in 55% concentrates Pre-Tax N
Slide 19: Taronga: DFS, Exploration and Permitting Update
TARONGA DFS, EXPLORATION AND PERMITTING UPDATE *Dec 2022 update* Taronga Project wins up to A$494,038 grant from NSW Critical Minerals and High-Tech Metals Activation Fund • Commencement of DFS at Taronga started in August 2022 led by Mincore Pty Ltd. The study is expected to be completed by Q4 2023
Slide 20: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE FOREMOST IN EVERYTHING WE DO INDEPENDENT ESG DIGBEE AUDIT SUBMITTED TO BE MANAGED IT MUST BE MEASURED First Tin received its inaugural environmental, social and governance (ESG) rating from Digbee, a leading independent assessment platform for ESG disclosure in t
Slide 21: First Tin: Corporate Summary
FIRST TIN: CORPORATE SUMMARY LSE: 1SN SIGNIFICANT SHAREHOLDERS AusTin Mining Limited 22.6% (OVER 5% Baker Steel Resources Trust 15.4% HOLDING) Directors 8.7% Total 46.7% 9.77p 265.5 £25.9M SHARE MILLION MARKET CAP PRICE SHARES ON ISSUE £16.3M £9.6M CASH EV VALUE NO DEBT Market data as at 18 November
Slide 22: Summary: Why First Tin?
SUMMARY WHY FIRST TIN? • Poised to fill the looming supply gap facing Excellent location tin from 2025 of assets • Mature; ESG compliant tin assets in Tier 1 jurisdictions All necessary infrastructure • Fully funded to deliver significant value in place creation through extensive drill campaigns NO
Slide 23: Appendix
O FIRST TIN APPENDIX
Slide 24: Global Tin Specialists
GLOBAL TIN SPECIALISTS WITH >150 YEARS’ OF EXPERIENCE IN TIN EXPLORATION, DEVELOPMENT, MINING, PROCESSING, AND COMMERCIALISATION MANAGEMENT ADVISORS THOMAS BÜNGER TONY TRUELOVE MARCO ROSCHER ROB KIDD DAVID FOSTER MARK THOMPSON Ph.D. in Metallurgy, B.Sc. Hons (1st) Geology, Ph.D. in Geology, Freiberg
Slide 25: Experienced Board Focused on Corporate Governance, ESG
EXPERIENCED BOARD FOCUSED ON CORPORATE GOVERNANCE, ESG, AND ALIGNING SHAREHOLDER & STAKEHOLDER INTERESTS EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTORS THOMAS BÜNGER CHARLES CATHERINE APTHORPE SEAMUS CORNELIUS INGO HOFMAIER NICHOLAS MATHER Ph.D. in Metallurgy, CANNON-BROOKES B.A. (Hons), CPE/LPC LLB, LL
Slide 26: International Tin Association: Most Likely Development Projects
INTERNATIONAL TIN ASSOCIATION “MOST LIKELY” DEVELOPMENT PROJECTS ITA MOST LIKELY NEW TIN MINES TOP 15 UNDEVELOPED CRIRSCO – COMPLIANT TIN RESOURCES BY TIN CONTENT Capacity Start Up Ore Deposit Country Company Deposit Country Company % Sn (tpa) Year (Mt) Santa Comba Spain Rafaella Resources 100 2021
Slide 27: A Critical Metal for the Future Economy
A CRITICAL METAL FOR THE FUTURE ECONOMY TIN IS VITAL IN ANY PLAN TO DECARBONISE & ELECTRIFY CUMULATIVE TIN STOCKS GLOBAL TIN SUPPLY-DEMAND BALANCE (KT) 16000 14000 SHFE LME 12000 10000 8000 6000 4000 2000 0 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 20
Slide 28: Contact
CONTACT THOMAS BÜNGER Chief Executive Officer thomas.buenger@firsttin.com +49 172 35 15 256 28