Akora Resources Ltd. · ASX:AKO
Akora Resources — Noosa Mining Conference 2025
24 slides from Akora Resources's conference presentation, Jul 21, 2025
Slide 1: Akora to Present at Noosa NightCaps to Launch Noosa Mining Conference
Akora Resources Limited info@akoravy.com PO Box 28 ACN 139 847 555 Ballarat Victoria 3350 ASX: AKO Australia www.akoravy.com ASX RELEASE 21 July 2025 Akora to Present at Noosa NightCaps to Launch Noosa Mining Conference AKORA Resources Limited’s new Managing Director and Chief Executive Officer, Pet
Slide 2: Cleaner iron ore for greener steel
Cleaner iron ore for greener steel AKORA Resources (ASX: AKO) is an Australian resources company focused on the development of four high-grade iron ore projects in Madagascar. The Company’s flagship Bekisopa Iron Ore Project has a 194.7 million tonne (Mt) Inferred JORC Resource (ASX Announcement 11
Slide 3: Investing in Tomorrow's Steel
For personal use only Investing in Tomorrow’s Steel Peter Bird Managing Director www.akoravy.com ASX:AKO 21 July 2025
Slide 4: Disclaimers
Disclaimers The information in this Presentation is of a general nature and does not purport to be complete nor does it contain all the information which a Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially prospec
Slide 5: Unlocking Madagascar's High-Grade Iron Potential
AKORA Resources Unlocking Madagascar’s High-Grade Iron Potential For personal use only 194.7Mt Inferred Resoures1 plus Exploration Target 500Mt + 1.0Bt2 Flagship Project : Bekisopa Project Stage 1 – Start-Up Project – DSO “the enabler” Stage 2 – Direct Reduced Iron (DRI) Concentrate. Future Pipeline
Slide 6: Stage One Development
Stage One Development PFS confirms Bekisopa’s Stage One 2Mtpa high-grade direct shipping For personal use only iron ore (DSO) operation has strong economics. PFS shows the capital investment delivering revenues of A$1.25 Billion and A$0.5 Billion cash flow (pre-tax)*. Bekisopa Direct Shipping Ore op
Slide 7: PFS confirms DSO project has strong economics
PFS confirms DSO project has strong economics ^*. We believe further Annual Production Initial Mine Life Revenue For personal use only drilling will confirm 2Mt 6 years US$789M additional mine life, Average 61.6% Fe grade and the vision for a multi decade high- Capital Cost NPV10 (pre-tax) IRR (pre-
Slide 8: Bekisopa's high-grade iron DSO is close to surface
Bekisopa’s high-grade iron DSO is close to surface “Low Strip Ratio” with upside potential For personal use only DSO Outcrop Trench 36: High-grade lump and fines iron ore ~67% Fe* DSO weathered zone, 2.2m at ~66% Fe* Iron ore for tomorrow’s *AKO Prospectus, ASX Announcement 11/12/20 steel making. 6
Slide 9: Start-Up Capital US$60.6M
Start-Up Capital US$60.6M Pre-Feasibility Study – Capital Costs (US$M) Mining 1.2 Processing (crush, screen, magnetic) 4.8 For personal use only Facilities 6.5 EPCM 6.8 • The capital cost breakdown developed by AKORA and Port 2.3 WAI* covers all activities from mining through to ship Roads 29.4 load
Slide 10: Simple shallow open pit mining for Bekisopa DSO
Mining for the Bekisopa DSO will be simple shallow open pit excavation using For personal use only shovel and truck with no drill and blasting. • The project has a very low strip ratio of 0.52:1 over the initial 6 year life. • Mobile crushing and screening equipment to be used initially with magneti
Slide 11: Lump and fines product over life of mine
Over life of mine, the DSO operation delivers 40% Lump @ 61.8% Fe and 60% Fines product @ 61.4% Fe. For personal use only Geotechnical studies show that the DSO reserve will not require drill and blasting, just conventional truck and shovel mining then crushing and screening to produce Lump Lump Fin
Slide 12: PFS operating cash costs by operating centre
PFS operating cash costs by operating centre, Life of Mine Average ($US/t). C1 cash cost of US$42.3/t Mining (contractor) 4.40 is cost competitive compared Processing (crush, screen, magnetic) 2.30 to potential peers. Port and Transhipping 8.60 For personal use only (contractor) Haulage to port 24.0
Slide 13: PFS Long-Term Benchmark Price – US$100/t
PFS Long-Term Benchmark Price – US$100/t For personal use only Potential Margin Iron ore for tomorrow’s steel making. 11
Slide 14: Highly Investable Opportunity
Highly Investable Opportunity • Start-up capital of US$60.6M “unlocks” US$310M cash flows for For personal use only initial 6 years • Resource Growth additional drilling is expected to significantly expand the resources and long term returns • Attractive investment case compelling metrics for financ
Slide 15: Resources Base and Growth Upside
Resources Base and Growth Upside • PFS production provides strong base for growth For personal use only • Strong geological continuity with a high conversion confidence • Targeted drilling is expected to upgrade existing Inferred Resources and grow known Target areas +1Mt Product delivers additional
Slide 16: Haul road pathway to Port of Toliara
The PFS has identified a suitable haul road pathway of new and existing roads from For personal use only Bekisopa to the Port of Toliara. • 25km of new roads from the mine site to the Zomandoa River crossing, followed by 80km of existing road to be upgraded to the township of Satrokala. • Then a fur
Slide 17: New bypass road from RN7 highway to Toliara Port
New bypass road from RN7 highway to be used to access Toliara Port. This public road, financed by the World Bank, has been under construction For personal use only over the last 12 months and is scheduled for completion mid-2026. The Malagasy Ministry of Public Works has launched a Notice of Express
Slide 18: Mobile conveyor loads transshipping barge at Toliara Port
At Toliara Port, a mobile conveyor will load a 10,000wmt transshipping barge. For personal use only • The barge will transport the product to the export vessel in deep waters outside the bay of Toliara and be unloaded by the ship’s gear. • As shipments reach 2Mtpa from Year 3, transshipping will uti
Slide 19: Strategic Export Advantage
Strategic Export Advantage For personal use only • Well positioned to supply global steel and DRI pellet manufacturers globally. • Established port infrastructure enables efficient shipping across Asia, Middle East and Europe Iron ore for tomorrow’s steel making. 17
Slide 20: Strategic Focus - Next Steps
Strategic Focus - “Next Steps” Key focus for H2 CY 2025 & Early 2026 MoU with Government of Madagascar For personal use only • Agree key enabling framework to support project development Permitting / Agreements • Permit renewals and transformation to Mining Licenses, Main Bekisopa tenement first to
Slide 21: Expansive multi-decade inferred magnetite resource
Bekisopa’s DSO sits above an expansive multi- decade inferred magnetite resource*. 194.7Mt Inferred Resoures + Exploration Target 500Mt + 1.0Bt 1 2 For personal use only 1. JORC Compliant Mineral Resource Estimate released in April 2022. 2. Exploration Target refers to Exploration Potential in accor
Slide 22: Stage Two Development
Stage Two Development • Premium Priced +68% Fe Concentrate for Green Steel Technologies For personal use only • Low impurity DRI-grade product targets growing premium priced Fe concentrate for Direct Reduced Iron- Electric Arc Furnace (DRI-EAF) technology. DRI-EAF technology reduces carbon emissions
Slide 23: AKORA's Compelling Investment Case
AKORA’s Compelling Investment Case DSO operation offers Strong metrics and fast pathway to positive For personal use only cashflow • Revenue : cost ratio exceeds 2:1 • Minimum life of 6 years with only ~40% of the mineralised DSO style trend fully evaluated • AKORA is trading at 5% of NPV US$147m ba
Slide 24: Contact us
Contact us Peter Bird For personal use only Managing Director peter.bird@akoravy.com AKORA Resources Ltd 12 Anderson Street West, ACN 139 847 555 Ballarat ASX: AKO Victoria 3350. Join the conversation Follow us Subscribe to our investor @AkoraResources https://www.linkedin.co relations platform m/co