Slide 1: Nico Resources Investor Presentation April 2022
13 April 2022 ASX:NC1 1
Slide 2: Disclaimer
DISCLAIMER General Disclaimer: This presentation has been prepared by Nico Resources Limited (“Nico” or the “Company”) for the purpose of providing an overview of the Company. The presentation is based upon information available to the Company at the date of this presentation. The Company makes no r
Slide 3: Capital Structure
CAPITAL STRUCTURE 14,000 1.1 1 12,000 A$98 million 0.9 10,000 Volume (000s) 0.8 8,000 Market Capitalisation1 A$/sh 0.7 6,000 0.6 4,000 0.5 0.4 2,000 0.3 0 19-Jan-22 03-Feb-22 17-Feb-22 03-Mar-22 17-Mar-22 31-Mar-22 A$10 million Board & Management Cash1 Non-Executive Chairman Warren Hallam Metals X M
Slide 4: Nico Opportunity
NICO OPPORTUNITY Transforming the Australian nickel industry 1 2 3 One of the largest undeveloped nickel resources / Provide responsibly sourced environmentally Deliver a Trifecta strategy – Optimise, Develop & reserves globally to underpin an independent friendly green metals to the market Produce
Slide 5: Project Highlights
Broome PROJECT HIGHLIGHTS Wingellina is a development-ready, large resource project, with a demonstrated ability to produce nickel & cobalt sulphates, sulphides and hydroxides. The unique characteristics of Port Wingellina provides several investment and development options for NiCo Resources and He
Slide 6: Wingellina
WINGELLINA A company making asset Significant Assets Clear Strategy to deliver a Tier 1 long life (+40Yrs), Sustainably designed with optimization studies ~2Mt of contained Nickel low cost nickel production asset with low carbon for value accretive projects to enhance overall ~154kt of contained Cob
Slide 7: Corporate Strategy
CORPORATE STRATEGY Optimise Develop Produce • New Wingellina feasibility study • The project reserve currently in excess of 40+ Year mine • LOM production strip rate 1:1 with first 20 years 0.5:1 • Additional scoping level analysis life at 40,000tpa Ni and 3,000tpa Co • Free dig operation Average or
Slide 8: Project Optimisation
DOWNSTREAM PROJECT OPTIMISATION REFINING /DISTRIBUTION High Purity MIDSTREAM Aluminium PROCESSING UPSTREAM EXPLORATION/PRODUCTION Hydrometallurgical Crushing & Nickel refinery Screening circuit HPA Refinery pCAM Refinery Decarbonised Energy O/P Mining Market ~1%Ni Ore MHP Ni Sulphate Cobalt Sulphate
Slide 9: Wingellina Production Characteristics
WINGELLINA PRODUCTION CHARACTERISTICS Wingellina Proposed HPAL Operation Strip Ratio 1:1 (0.5:1 for 0-20 yrs) Ore Thickness 80 metres average Tonnes/km2 50-60 Mt Mining Technique Free Dig MgO Low Iron High Low Acid Consumption < 300 Kg/t Ore Blending Not Required 9
Slide 10: High Grade Cobalt Zones
HIGH GRADE COBALT ZONES Evaluation of high-grade cobalt domains within the Wingellina deposit • High grade Co zones represent increased economic value reducing capital payback period • High Grade Co domains include: o 29.7Mt at 0.14% Co and 1.15% Ni (1.57% Ni Eq) for 42,000t Co (0.1% Co Cut-off) o 1
Slide 11: Significant Exploration Side
SIGNIFICANT EXPLORATION SIDE Only 25% of the contact zone has been drilled Wingellina, Irrunytju, WA Ni Co Project Status Development stage Current Work Program Drilling ~10,000m in 2022 Comments Project Currently has a reserve of ~2Mt of contained Nickel. Largest known resource in the belt Claude H
Slide 12: Laterites vs Sulphides
LATERITES VS SULPHIDES Laterite Hydrometallurgical Flow Sheet Which one is the most favorable ore source? Laterites | Ni-Mn-Co Legend: Sulphides | Ni-Cu-Co-PGE Ore sources Sulphide ores typically occur as Mining economically viable grades of 1-3%Ni in the ground and are concentrated Mining Sulphide
Slide 13: Largest Global Nickel Reserves
LARGEST GLOBAL NICKEL RESERVES Contained NiEq Tonnes Central Musgraves Project 7,000 2.00 Development Projects (8) Contained NiEq Grade Production Projects (8) 6,000 1.50 5,000 Contained NiEq Tonnes '000's NiEq Grade (%) 4,000 1.00 3,000 2,000 0.50 1,000 0 0.00 Note: data sourced from S&P Global Dat
Slide 14: Largest Undeveloped Global Nickel Reserves
LARGEST UNDEVELOPED GLOBAL NICKEL RESERVES Contained NiEq Tonnes Central Musgraves Project 3,500 Brazil/China/Cuba/Coral Triangle/Russia (8) 2 Contained NiEq Grade Australian/ Nth American Projects (7) 3,000 1.5 2,500 Contained NiEq Tonnes '000's NiEq Grade (%) 2,000 1 1,500 1,000 0.5 500 0 0 Note:
Slide 15: Aus/Nth American Significant Undeveloped Nickel Deposits
AUS/NTH AMERICAN SIGNIFICANT UNDEVELOPED NICKEL DEPOSITS Late stage development or Contained Ni Eqv (tonnes) - Resource Ni Eqv grade 100 475 producing primary nickel % projects globally 7,000 1.20% 6,000 1.00% 33 Pre production assets located in 160 Contained NiEq Tonnes '000's 5,000 % Australia or
Slide 16: Undeveloped Australian Nickel Laterite Resources
UNDEVELOPED AUSTRALIAN NICKEL LATERITE RESOURCES Nickel Laterite Reserves Ravensthorpe Pre-Production Murrin Murrin Bubble size: Contained Ni ('000 t) Label: Property name Murrin Murrin, Reserves, Australia 1.5% Central Musgrave, Reserves, Australia Kalgoorlie, Reserves, Australia Murrin Murrin Niwe
Slide 17: Resource & Reserve Statement
RESOURCE & RESERVE STATEMENT Central Musgraves Project (CMP), Western Australia 0.5% Ni cut-off grade Classification Tonnes Grade Metal (t) Wingellina Measured 37,600,000 0.98 368,000 Indicated 130,900,000 0.91 1,193,000 Nickel Inferred 14,100,000 0.87 122,000 Total 182,600,000 0.92 1,684,000 Measur
Slide 18: Timeline
TIMELINE 2022 Mar ‘22 Jun ‘22 Sep ‘22 Dec ‘22 2023 Mar ‘23 Jun ‘23 Sep ‘23 Dec ‘23 PFS Refresh Commence DFS Feasibility Study Or B.F.S (Scope Dependant) Detailed Engineering Resource Drilling - Calcrete Regional Resource Drilling - Claud's Hill Exploration Regional Exploration Targeting Nickel Proce
Slide 19: Wingellina Project Summary
WINGELLINA PROJECT SUMMARY 1 2 Globally significant Nickel and Cobalt Resource Approvals – Mining and infrastructure agreement in tier 1 mining jurisdiction with over over 1.5MT signed. EPA approval granted of contained NI in RESERVES alone 3 Mining – Free dig, very low strip ratio, mining 4 Simple
Slide 20: Decarbonised Future Facing Mine Design
DECARBONISED FUTURE FACING MINE DESIGN Committed to social & Safety environmentally sustainable Committed to the safety of our value creation personal through all phases of development and production Local Partnerships Develop longstanding mutually Designed to deliver an integrated beneficial partne
Slide 21: Transforming The Australian Nickel Industry
“Transforming The Australian Nickel Industry” 21