Black Rock Mining Limited · ASX:BKT
Black Rock Mining — Investor Presentation (February 2022)
22 slides from Black Rock Mining's investor presentation, Feb 8, 2022
Slide 1: Mahenge Graphite Mine: Naturally Better Graphite Investor Update
Black Rock Mining Mahenge Graphite Mine For personal use only Naturally Better Graphite: Investor Update February 2022
Slide 2: Important notices
Important notices This presentation has been prepared by Black Rock Mining Limited (Black Rock or the Company). For personal use only The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which
Slide 3: Black Rock and the Mahenge Graphite Mine Table of Contents
Black Rock and the Corporate overview: Black Rock at a glance 4 For personal use only Black Rock team 5 Mahenge The outlook for graphite 6 Graphite A snapshot of the Mahenge graphite mine 11 Mine Premier Location 12 Graphite Uses 13 Table of Contents Why Black Rock? 14 ESG Focus 15
Slide 4: Black Rock at a glance
Black Rock at a glance Capital structure ASX ticker BKT Premium graphite player Share price (7 February 2022) $0.23 For personal use only Shares on issue 868.6 M Developing the Tier 1 scale Mahenge graphite project in Tanzania (2nd largest reserve globally) Options and performance rights 73.5 M Mark
Slide 5: Black Rock team
Black Rock team Board of Directors Management For personal use only Richard Crookes, Non-exec Chairman: Geologist with over 30 years’ Steuart McIntyre, GM Corporate Development: Mining analyst with over 15 executive experience in the resources and finance industries; raised capital years experience.
Slide 6: Graphite in batteries
Graphite in Graphite is the dominant anode material, regardless of battery chemistry batteries For personal use only LFP NMC 111 NMC 532 NMC 811 NCA 17% 15% 16% 16% 11% There is more 29% 43% graphite in Li-ion Cathode (+) 68% 73% batteries by volume 83% 29% 24% than any other 27% 8% material, regard
Slide 7: Natural graphite increasing in batteries
Natural Growing importance of natural graphite in batteries 100% graphite For personal use only 75% 48% increasing in 58% 41% 50% batteries 25% 39% 48% 49% 0% The use of natural 2020 2025 2030 graphite in batteries Natural graphite Synthetic graphite Silicon LTO Other has been growing Demand for LIB
Slide 8: Battery demand growth
Battery Battery Raw Material Demand Growth (kt) demand 6,000 5,903 For personal use only growth 5,000 4,241 4,000 3,689 A synchronised global technology 3,000 2,869 change is underway 2,645 and is expected to 2,000 drive strong demand 1,652 for battery materials 1,000 914 693 654 506 342 185 0 2020
Slide 9: Strong outlook for natural graphite
Strong Structural deficits in natural graphite predicted from 2023 outlook for 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500,000 For personal use only natural 0 graphite Market Balance (ktpa) -500,000 -1,000,000 Demand expected to -1,500,000 exceed supply in 2023, with ma
Slide 10: Graphite prices on the move
Graphite -194 graphite price FOB China up >60% over the last 12 months prices on the US$/t For personal use only 900 move 800 In the last 12 months, 700 the price for -194 fines 600 in China is up >60% to ~US$805/t, with most 500 of the increase in the last 3-4 months 400 28-Jan-21 28-Apr-21 28-Jul-
Slide 11: A snapshot of the Mahenge Graphite Mine
A snapshot of the Mahenge Graphite Mine Simple open pit mine development with outstanding forecast returns1 For personal use only US$1.2B 45% 83ktpa NPV10 real post tax, post 16% FC Post-tax, ungeared, real IRR Module 1 production (1Mtpa) US$116M 340ktpa 95 – 99%+ TGC purity 59% +80 mesh, 41% -80 Mo
Slide 12: Premier location
Premier location For personal use only AFRICA Well positioned in Dar es Salaam East Africa’s growing Graphite belt Mahenge Graphite Mine Mahenge offers a unique TANZANIA combination of high quality geology and world class geography
Slide 13: Graphite Uses
Graphite Price increases with flake size Uses For personal use only Black Rock has a diversified product SMALL FLAKE (FINES) LARGE FLAKE JUMBO FLAKE mix with 60% Lithium-Ion Batteries Flame Retardants Flame Retardants exposure to the high Paint & Coatings Refractories Gaskets & Seals margin large fl
Slide 14: Why Black Rock?
Why Black Rock ? For personal use only Unique competitive advantages driven by Geology and Geography GEOLOGY GEOGRAPHY ★ Mahenge’s 212mt resource makes it the 4th largest graphite ★ Access to key infrastructure, Grid Power, Rail, Airstrip, Water resource in the world and Tailings disposal (dry stack
Slide 15: ESG Focus
ESG Focus Digbee ESG engaged For personal use only to ensure best practice Customer Markets A new greener source Higher grade concentrate reduces manufacturing of graphite Hydro Electric Power Low carbon power supply, and transport footprint and energy consumption Reduced community vehicle int
Slide 16: Graphite Playbook
Graphite MAJORITY OF PRE-CONSTRUCTION INVESTMENT PILOT PLANT QUALIFICATION Playbook CUSTOMERS & For personal use only OFF-TAKES GOVERNMENT Free-Carried Interest Shareholding Agreement Sequential EPC development that is customer driven DRILLING SOCIAL LICENCE STUDY WORK MINING LICENCE & FINANCING APR
Slide 17: Development Timetable
Development The wet season in Tanzania typically runs until late May Timetable For personal use only Formal debt process underway, aiming to have debt in place by mid CY22 Aiming to have debt finance in place for Black Rock is targeting 50-60% debt via traditional project finance Module 1 by m
Slide 18: Advancing Next Steps
Advancing Project milestones: Next Steps Grant of SML to unify existing MLs (already agreed with Govt) For personal use only Complete early works and Resettlement Action Plan Continue to recruit for key roles, particularly in Tanzania Black Rock expects to complete a number of Offtake mile
Slide 19: Black Rock: The premier graphite exposure
Black Rock: The premier graphite exposure A world-class deposit with a superior development strategy For personal use only 01 Upstream focus with highly economic mine project 06 Premier location and logistics options 02 Deep evaluation work for Tier 1 scale project 07 Fit-for-purpose project executi
Slide 20: For personal use only
For personal use only John de Vries Richard Crookes Managing Director and CEO Chairman E: richard.crookes@blackrockmining.com.au T: +61 438 356 590 E: jdv@blackrockmining.com.au Steuart McIntyre A: 45 Ventnor Avenue GM Corporate Development West Perth WA 6005 T: +61 413 555 609 E: sm@blackrockmining
Slide 21: Appendix
For personal use only Appendix
Slide 22: Offtake Agreements
Offtake Mahenge Offtake for Module 1 (83ktpa) Agreements 100.0 For personal use only 90.0 Almost 90% of 80.0 15.0 15.0 15.0 15.0 15.0 Mahenge’s Module 1 70.0 production is under 60.0 15 15 15 binding offtake or 50.0 45 45 option 30 30 30 40.0 30.0 20.0 26.6 26.6 26.6 26.6 26.6 10.0 0.0 Year 1 Year 2
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