Wa1 Resources Ltd · ASX:WA1
Wa1 Resources — Investor Presentation (January 2024)
39 slides from Wa1 Resources's investor presentation, Jan 18, 2024
Slide 1: West Arunta Project Equity Raising Presentation
41 Nb Niobium 92.906 WEST ARUNTA PROJECT A ONCE IN A GENERATION NIOBIUM DISCOVERY IN A WORLD-CLASS MINING JURISDICTION EQUITY RAISING PRESENTATION JANUARY 2024 Not for release to US wire services or distribution in the United States
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER Nature of Document: This presentation has been prepared and issued by WA1 Resources Ltd Not financial product advice: Neither the Company nor any of its related bodies corporate is (WA1, the Company) to provide general information about the Company. The information i
Slide 3: Important Notices and Disclaimer (cont.)
IMPORTANT NOTICES AND DISCLAIMER (CONT.) Not an offer in the United States: This presentation may not be released to US wire services or distributed in the United States. The New Shares have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in t
Slide 4: A Globally Significant Critical Mineral Discovery
A GLOBALLY SIGNIFICANT CRITICAL MINERAL DISCOVERY Two high-grade niobium discoveries in a world-class mining jurisdiction Niobium is a critical mineral Nb 41 which is essential to a low-carbon Niobium 92.906 economy in value-add materials and battery technologies Investor Presentation | Page 4
Slide 5: Investment Highlights
INVESTMENT HIGHLIGHTS 41 Nb Niobium 92.906 TWO HIGH-GRADE CRITICAL MINERAL ESTABLISHED TEAM OF CARBONATITE ESSENTIAL TO A LOW PROJECT ADVANCEMENT UPCOMING MILESTONES DISCOVERIES CARBON ECONOMY PROFESSIONALS P2 Extension Ongoing regular assay results and $15 $15m Further Luni placement Extensions e
Slide 6: Corporate Snapshot
CORPORATE SNAPSHOT PROFORMA CAPITAL STRUCTURE EQUITY RAISING A$40m ISSUE PRICE A$10 HIGHLY MOTIVATED DISCIPLINED CAPITAL PRO-FORMA SHARES ON ISSUE 61.3M BOARD & ALLOCATION OPTIONS1 AND PERFORMANCE RIGHTS 3.7M MANAGEMENT PRO-FORMA MARKET CAP (UNDILUTED) A$613.4M CASH (PRO-FORMA)2 A$56.7M ENTERPRISE V
Slide 7: Leadership Team
LEADERSHIP TEAM BOARD OF DIRECTORS MANAGEMENT TEAM Gary Lethridge, Non-Executive Chairperson Lucas Stanfield, Project Manager Significant corporate experience from discovery to production Experienced mining engineer with more than two decades of experience in mine Ex-Jubilee Mines and LionOre
Slide 8: Equity Raising
Equity Raising
Slide 9: Overview of Equity Raising
OVERVIEW OF EQUITY RAISING WA1 is conducting a A$40m institutional placement at an offer price of A$10.00/sh WA1 is conducting a placement of new fully paid ordinary shares (“New Shares”) to raise A$40 million (before costs) Offer (“Placement” or “Offer”) structure WA1 will issue 4 million New S
Slide 10: Sources and Uses
SOURCES AND USES Sources and uses of funds West Arunta Project Activities to advance initial Mineral Resource estimate Sources of funds A$(m) currently targeted for Q2-2024 Institutional placement 40.0 Further extensional drilling at the Luni carbonatite Cash and equivalents 18.7 Follow-up dri
Slide 11: Indicative Equity Raising Timetable
INDICATIVE EQUITY RAISING TIMETABLE Event Date1 Placement Trading halt Wednesday, 17 January 2024 Launch of the Offer Wednesday, 17 January 2024 Trading halt lifted and announcement of completion of Placement Thursday, 18 January 2024 Settlement of New Shares Wednesday, 24 January 2024 Allotment of
Slide 12: Two exceptionally high-grade discoveries of a critical mineral
Two exceptionally high-grade discoveries of a critical mineral
Slide 13: West Arunta Project Location
WEST ARUNTA PROJECT LOCATION The West Arunta Project comprises two mineralised carbonatite discoveries located in Western Australia, one of the world’s pre-eminent mining jurisdictions Key access is via the Mid-State Highway, 1,300km to Port Hedland and 800km to Alice Springs The 2022 drill pr
Slide 14: The Anatomy of a Carbonatite
THE ANATOMY OF A CARBONATITE Formed from deep mantle-derived magmatic intrusion Defined by their composition, being rich in carbonate minerals and often occurring as plugs within intrusive complexes, or as dykes, sills, breccias or veins May be mineralised with niobium, REE, phosphorus, tantal
Slide 15: Luni - A Tier 1 Mineralised Carbonatite
LUNI - A TIER 1 MINERALISED CARBONATITE The Luni carbonatite is an approximately 3.5km by 1.5km intrusive system The carbonatite is characterised by a discrete, very-high amplitude gravity anomaly with a limited but coincident magnetic response Luni is also located at the intersection of two i
Slide 16: Luni – Shallow High-Grade Blanket
LUNI – SHALLOW HIGH-GRADE BLANKET1 Over 30,000m drilled in the 2023 field season LUNI CABONATITE PLAN VIEW Drilling has focussed on defining a relatively shallow GRAVITY GREYSCALE A’ (from as little as 30m depth) zone of high-grade niobium (RESU200M) AND STRUCTURAL mineralisation extends over 2k
Slide 17: Luni - Southeast Target Zone
LUNI - SOUTHEAST TARGET ZONE1 LURC23-042, a reconnaissance drillhole located 200m south of LURC23-043, ended in high-grade mineralisation with the final metre returning 1m at 3.7% Nb2O5 This drillhole was terminated at 120m due to drilling conditions and was unable to adequately test the vertica
Slide 18: P2 – Satellite Carbonatite Discovery
P2 – SATELLITE CARBONATITE DISCOVERY1 First drill hole (announced October 2022) at the P2 Target discovered a mineralised carbonatite system Assay results received from a follow-up RC drill program (announced December 2023) confirmed the potential for a large mineralised carbonatite system Min
Slide 19: Mineralogy and Metallurgy
MINERALOGY AND METALLURGY Five composite samples have undergone detailed Liberation of Niobium Niobium mineralogical assessment using QEMSCAN and XRD niobium Next steps minerals content minerals Dominant high-purity, primary niobium bearing >85% of -150 to minerals observed in the samples Prelim
Slide 20: Key Project Workstreams
KEY PROJECT WORKSTREAMS Drilling Process Testwork Environmental Mineral Resource estimate Mineralogical and Baseline studies have expected Q2-24 with infill and metallurgical testwork commenced extensional drilling scheduled underway Transport Studies Water Power Solution Multiple transport corridor
Slide 21: Key infrastructure established for ongoing exploration and development activities
Key infrastructure established for ongoing exploration and development activities Investor Presentation | Page 21
Slide 22: WA1's ESG Focus
WA1’S ESG FOCUS 41 Nb Niobium 92.906 POSITIVE IMPACT ON THE CRITICAL MINERAL BUSINESS ETHICS AND COMMUNITIES WITHIN THE EXPLORATION ENABLING CORPORATE GOVERNANCE LANDS WE OPERATE DECARBONISATION Investor Presentation | Page 22
Slide 23: The only replacement for steel is better steel
41 Nb Niobium 92.906 The only replacement for steel is better steel Investor Presentation | Page 23
Slide 24: Global Niobium Supply
GLOBAL NIOBIUM SUPPLY GRADE OF KEY NIOBIUM PRODUCERS1 ( Nb2O5) GLOBAL PRODUCTION2 2.5% 100 Ferroniobium production eq. 80% GLOBAL SUPPLY BY PRODUCER3 75 (ktpa) 11% 8% 50 25 1.0% - 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 0.4% HISTORIC PRICING BY PRODUCT (US$/KG) 50 FERRONIOBIUM (6
Slide 25: CBMM – Araxá Niobium Mine
CBMM – ARAXÁ NIOBIUM MINE1 The Araxá niobium deposit was discovered in 1953 and is located approximately 6km from the city of Araxá in the state of Minas Gerais, Brazil The carbonatite complex is circular in shape with an average grade of 2.5% Nb2O5 within its shallow high-grade enriched blanket
Slide 26: Niobium Market Distribution
NIOBIUM MARKET DISTRIBUTION FeNb supply1 FeNb demand2 Listed as critical3 CANADA 8% EUROPE 20% JAPAN CHINA S. KOREA 35% 13% NORTH IDENTIFIED BY MANY AMERICA 18% COUNTRIES AS A CRITICAL 11% MINERAL DUE TO SUPPLY BRAZIL CONCENTRATION 91% WEST ARUNTA 80% PROJECT EU Critical Mineral Rankings - 20234 US
Slide 27: Ferroniobium Demand
FERRONIOBIUM DEMAND NIOBIUM DEMAND BY TYPE1 Global ferroniobium production KEY FERRONIOBIUM MARKETS is approximately 88ktpa and sells for ~US$30,000/t1 Micro-alloyed steels using niobium increase the efficiency of the steel industry OIL & GAS STRUCTURAL PIPELINES Strength improvements allow li
Slide 28: Dematerialisation in Construction
DEMATERIALISATION IN CONSTRUCTION1 THE STEEL INDUSTRY ACCOUNTS FOR 7% OF GLOBAL CO2 EMISSIONS China Zun Tower, Beijing 130,000t total steel used Utilised 40t of FeNb 65% in construction costing US$1.2m2 Adding 0.02% Nb to Saving 12,000t of Steel HIGHER QUALITY STEELS steel componentry valued
Slide 29: Niobium Oxide Demand
NIOBIUM OXIDE DEMAND Niobium oxide is predominately NIOBIUM DEMAND BY TYPE3 produced through additional SPECIALTY NIOBIUM MARKETS treatment applied to refined ferroniobium1 NIOBIUM OXIDE Key established and high- 12% growth markets include2: AEROSPACE SUPERCONDUCTORS Superconductive magnets an
Slide 30: Niobium Oxide Demand – Batteries
NIOBIUM OXIDE DEMAND – BATTERIES NIOBIUM BATTERY TECHNOLOGY NIOBIUM BATTERY LEADERS 10x longer life than traditional batteries – significantly reducing e-waste1,2 Ultra-fast charging – full charge in 6 minutes or less2 Increased stability – up to 20,000 fast charge and discharge cycles without
Slide 31: Key Takeaways
KEY TAKEAWAYS 41 Nb Niobium 92.906 TWO HIGH-GRADE CONCENTRATED ESTABLISHED TEAM OF CONTINUOUS FLOW OF CARBONATITE HIGH-VALUE NIOBIUM PROJECT ADVANCEMENT EXPLORATION RESULTS DISCOVERIES MARKET PROFESSIONALS AND PROJECT NEWS Luni is a globally High-value critical mineral Highly successful board
Slide 32: Advancing an essential critical mineral project for the niobium market
41 Nb Niobium 92.906 Advancing an essential critical mineral project for the constrained, high-value niobium market WA1 Resources Ltd Investors Product Marketing Media Paul Savich Gustavo Macedo Michael Vaughan Lvl 2, 55 Carrington Street, Managing Director Niobium Marketing Advisor Fivemark Partner
Slide 33: Appendix A - References and Notes
Appendix A - References and Notes SLI DE 5 3. Reuters article viewed at https://www.reuters.com/article/us-cbmm-niobium-idUKTRE7811UB20110902 on 14/11/20233 1. Historical price data from <https://au.finance.yahoo.com/quote/WA1.AX/history?p=WA1.AX> and announcements sourced from SLI DE 25 <https://ww
Slide 34: Appendix B - Key Risks
Appendix B – Key Risks Exploration and development The future exploration activities of the Company may be affected by a range of factors including geological conditions, limitations on activities due to seasonal weather patterns or adverse weather conditions, unanticipated operational and technical
Slide 35: Appendix B - Key Risks (cont.)
Appendix B – Key risks (cont.) Regulatory risk The Company’s exploration activities are subject to extensive laws and regulations relating to numerous matters including resource licence consent, conditions including environmental compliance and rehabilitation, taxation, employee relations, health an
Slide 36: Appendix C - Foreign Selling Restrictions
Appendix C – Foreign Selling Restrictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sol
Slide 37: Appendix C - Foreign Selling Restrictions (cont.)
Appendix C – Foreign Selling Restrictions (cont.) Canada (British Columbia, Ontario and Quebec provinces)(cont.) Statutory rights of action for damages and rescission. Securities legislation in certain Provinces may provide a purchaser with remedies for rescission or damages if an offering memorandu
Slide 38: Appendix C - Foreign Selling Restrictions (cont.)
Appendix C – Foreign Selling Restrictions (cont.) New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the “FMC Act”). The New Shares are not being offered or sold in New Zealand (or allotted w
Slide 39: Appendix C - Foreign Selling Restrictions (cont.)
Appendix C – Foreign Selling Restrictions (cont.) United Kingdom (cont.) Any invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) received in connection with the issue or sale of the New Shares has only been communicated or caused to be communicate