Fpx Nickel Corp · TSXV:FPX
Fpx Nickel — Investor Presentation (2023)
30 slides from Fpx Nickel's investor presentation, 2023
Slide 1: Low-Carbon Nickel. Made in Canada.
TSX-V:FPX | OTCQB: FPOCF Low-Carbon Nickel. Made in Canada. Q1 2023 fpxnickel.com
Slide 2: Forward Looking Statements
CAUTIONARY NOTE Forward Looking Statements This presentation contains certain “forward looking statements” within the meaning of “forward looking information” under applicable Canadian securities laws, concerning the business, operations and financial performance and condition of FPX Nickel Corp ..(
Slide 3: Baptiste Project: Low-Carbon Nickel. Made in Canada.
BAPTISTE PROJECT Low-Carbon Nickel. Made in Canada. Large Resource, High-Value, Strategic Long Life Low Projected Costs Nickel Product Value Drivers ▪ High-grade nickel product ▪ Potential for lowest ▪ Projected to be among world’s ▪ Potential for lowest quartile 10 largest nickel mines by operating
Slide 4: Nickel Demand Set For Exponential Growth
WHY NICKEL? Nickel Demand Set For Exponential Growth ELECTRIC VEHICLES TO DRIVE SIGNIFICANT DEMAND GROWTH FOR DECADES TO COME 3.7x Demand Growth 507Mt Glencore foresees 3.7x growth in nickel demand = 2019 9.2Mt by 2050 as compared to 2019 levels = 2050 forecasted Needs significant metals supply grow
Slide 5: Global Refined Nickel Supply/Demand & Price
NICKEL SUPPLY & DEMAND Global Refined Nickel Supply/Demand & Price 250 $20 Forecast 200 $18 150 $16 100 $14 000's Tonnes 50 $12 US$ /lb $10 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 $8 -50 $6 -100 $4 -150 $2 -200 Implied Surplus/Deficit '00
Slide 6: Unique Opportunity to Develop a Fully Integrated Nickel Operation
DECAR NICKEL DISTRICT Baptiste Nickel Project Unique Opportunity to Develop a Fully Integrated Nickel Operation ON QC STRATEGIC PRODUCT MI ▪ High-value, clean Ni product ▪ Direct integration into both the NY bypasses smelters to achieve high stainless steel and EV battery markets IN NV OH CO payabil
Slide 7: Decar Nickel District
Kemess Decar Stewart Nickel District Stardust Kwanika Decar Ni District Morrison Road 100km 5km Accessible to hydro- to rail line power grid to Stewart 90km Municipality Mt. Milligan Mine/Project Prince Rupert Fort St. James Rail Burns Lake Kitimat Endako Vanderhoof Prince George Huckleberry Blackwa
Slide 8: Potential for Multiple Large-Scale Nickel Deposits
DECAR NICKEL DISTRICT Potential for Multiple Large-Scale Nickel Deposits Baptiste Deposit Status PFS Completion 2023 Indicated Resource 1,815 Mt at 0.129% DTR Ni, 0.211% Total Ni Inferred Resource 339 Mt at 0.131% DTR Ni, 0.212% Total Ni Van Target Concentrate 63% Ni, 30% Fe, 1% Co Mine Life 35 year
Slide 9: 2022 Mineral Resource Estimate
BAPTISTE DEPOSIT 2022 Mineral Resource Estimate ▪ 2022 mineral resource model incorporates the results of step-out drilling completed in 2017 in the Southeast Zone and 2021 in-fill drilling ▪ Significantly improves Baptiste mine plan by incorporating near-surface higher-grade tonnage in starter pit,
Slide 10: Van Target: Major New Nickel Discovery
VAN TARGET Major New Nickel Discovery ▪ 2021 Maiden Drill Program, 2022 Step-Out Program ▪ Van Target measures ~2.5 km2 based on 54 bedrock surface samples ▪ Van Target located 6 km north of Baptiste ▪ Baptiste Target was ~2 km2 prior to initial drilling in 2010 2021 and 2022 Drilling Results Result
Slide 11: What is Awaruite Nickel?
What is Awaruite Nickel? Not a Sulphide, Not a Laterite Serpentinized Ultramafic Host Rock What’s Different About Awaruite? ▪ Present in host rock at placement: Ni & Co ▪ More physical characteristics to utilize in ▪ Not present at placement: Sulphur mineral processing = easier to recover ▪ Very hom
Slide 12: Mineralization Advantages
DECAR NICKEL DISTRICT Mineralization Advantages Style of Nickel Mineralization Nickel Sulphide Nickel Sulphide Awaruite Key Attributes & Value Drivers HIGH-GRADE LOW-GRADE FPX NICKEL (e.g., Western Australia) (e.g., Canada) Long Mine Life Greater Than 15 years Large volume of production Greater than
Slide 13: Advantages of Two-Stage Process
BAPTISTE PROJECT FLOWSHEET Advantages of 120 ktpd 0.22% Ni Two-Stage Process Simple, two-stage process ▪ Magnetic separation ▪ Conventional flotation 18 ktpd 1.0% Ni High recoveries, high grade product ▪ 85% recovery of Davis Tube Recoverable (“DTR” or magnetic) Ni grade ▪ Ni concentrate grading 63%
Slide 14: Clean, High-Value Nickel Product
DECAR NICKEL DISTRICT Clean, High-Value Nickel Product Conventional Concentrate (63% Ni, 30% Fe, 1% Co) Leaching under moderate Briquetting PREMIUM NICKEL conditions PRODUCT SUITABLE FOR STAINLESS STEEL MARKET AND EV BATTERY MARKET Stainless Steel Market EV Battery Market Ferronickel Briquette Ni-Co
Slide 15: FPX's Competitive Edge for Battery-Grade Nickel Sulphate
BAPTISTE PROJECT FPX’s Competitive Edge for Battery- Baptiste’s Awaruite mineralization promotes a simple 3-stage process with the potential to be Grade Nickel Sulphate (NiSO4) more efficient than the typical 5-stage processes required to convert sulphide and laterite ores into nickel sulphate. Rapi
Slide 16: 2020 PEA Results
BAPTISTE PROJECT 2020 PEA Results Assumptions Confirms Baptiste as $1.72 Billion 35 Years After-tax NPV(8% discount rate) Mine Life One Of The World’s Most 4 Years 99 Million Lbs. Life-of-mine average Robust Large- Payback period (after-tax) annual nickel production scale Nickel Projects $2.74/lb. N
Slide 17: Low Initial Capital Intensity
US$ capital cost per tonne annual Ni production $37,000 BAPTISTE CANADA BAPTISTE PROJECT 2020 PEA estimate US$1.7 Billion Low Initial $53,000 BARO ALTO BRAZIL 2011 US$1.7 Billion Capital $56,000 Intensity RAMU PAPA NEW GUINEA 2012 US$1.8 Billion $60,000 Compared to ONCA PUMA BRAZIL 2011 US$3.2 Billi
Slide 18: 2020 PEA Operating Expenditures
BAPTISTE PROJECT 2020 PEA Operating expenditures (US$/t milled) Estimated Average LOM OPEX Phase 1 Phase 2 Total Baptiste’s enormous scale and low " C1 operating costs of US$2.74/lb, Mining Yr 1 - 21 $2.28 Yr 22 - 35 $2.66 LOM $2.43 has the potential to deliver robust Mineral Processing $2.71 $2.91
Slide 19: The Green Choice For Nickel
BAPTISTE PROJECT The Green Choice For Nickel 70 Estimated Carbon Footprint Tonnes C02/Tonne Refined Ni produced 60 69.00 50 Baptiste Ni Production to have 40 Lowest Carbon 45.00 30 Intensity in global nickel market 20 27.50 10 7.19 2.40 0 FPX Baptiste Nickel Class 1 Nickel Class 1 Nickel Ferronickel
Slide 20: The Green Choice For Nickel
BAPTISTE PROJECT The Green Choice For Nickel Estimated Carbon Footprint Tonnes C02/Tonne Refined Ni by Stage of Production No Smelting Required means 8 7.19 Baptiste Ni Production has a 7 = benefication Lower Carbon Intensity = mining Low-strip ratio and production of Ni product with no 6 smelting r
Slide 21: Potential Zero-Carbon Mine
BAPTISTE PROJECT Potential Concept illustration of how to sequester CO2 with ultramafic mine waste Zero-Carbon Mine Baptiste offers a tremendous opportunity for lowering the carbon footprint of nickel ▪ Baptiste mill waste (brucite) naturally sequesters (mineralizes) CO2 TAILING LEGEND: ▪ Generates
Slide 22: A Viable Path to Net-Zero Nickel
BAPTISTE NICKEL PROJECT A Viable Path to Net-Zero Nickel Viable options for electric drilling & loading tC02e/tonne Ni eq. Carbon Intensity PEA BASE CASE Emerging options for hydrogen & electric hauling Reaction of only 5% of brucite in tailings to achieve net-zero 22 Low-Carbon Nickel. Made in Cana
Slide 23: Two Paths to Value Creation
2023 - FOCUS ON GROWTH & DISCOVERY Two Paths to Value Creation Baptiste Project Van Target Drilling 1 PFS Completion – Q3 2023 2 Growing a New Discovery Metallurgical Testwork (Q1-Q2) Community Engagement & Site Major New Nickel Discovery PFS metallurgical test program and pilot Evaluations (Ongoing
Slide 24: Advancing Two Deposits from Exploration to Development
BAPTISTE PROJECT TIMELINE Advancing Two Deposits from Exploration to Development Exploration Stage Development Stage Mining Stage High Risk = High Potential Lowered Risk Full Value 10 8 BAPTISTE DEPOSIT The current PEA stage project is undergoing a Relative Value series of engineering 6 VAN TARGET t
Slide 25: Overview of Global Nickel Projects
Overview of Global Nickel Projects BAPTISTE STANDS OUT AS A LARGE, LOW COST, LONG MINE LIFE NICKEL ASSET $5.00 High Cost, Short Mine Life Sunrise $4.50 (Australia) $4.00 Crawford Araguaia (Canada) (Brazil) Global Nickel C1 Operating Cost (US$/lb) Ni $3.50 Turnagain Projects Ranked by Kun-Manie Ta Kh
Slide 26: Overview of Global Nickel Projects
Overview of Global Nickel Projects DECAR'S BAPTISTE PROJECT RANKS HIGHLY AMONG GLOBAL NICKEL PROJECTS 9 8.8 Ratio of Mine Life to Payback (After-Tax) 35-year mine life, 4-year payback 8 for Selected Nickel Projects 7 6.7 6 4.9 4.9 5.0 5.1 5 4.3 4 3.7 3.8 3.4 3.4 3.5 3.0 3 2 1 0 Tamarack Crawford Ta
Slide 27: Price to Asset Value Comparisons
Price to Asset Value Comparisons P/NPV for Nickel Project Developers 0.89x 0.65x 0.58x 0.05x P/NPV 0.13x 0.14x Sunrise Canada Talon Centaurus Noront Energy Metals Nickel Metals Minerals (Wyloo) Market Cap (USD) $85 million $180 million $168 million $331 million $296 million $481 million Asset Baptis
Slide 28: Share Structure & Financial Position
Share Structure & Financial Position Capital Structure TSX-V: FPX | OTCQB: FPOCF 52-week Range: C$ 0.35 –C$ 0.96 Shares Outstanding: 241.2 M (basic) ; 259.0 M (diluted) FPX (TSX-V): 2020-2022 Price Chart Market Capitalization (basic): C$115 million (C$/share) Cash and working capital: ~C$18.5 millio
Slide 29: Executive Team and Board of Directors
PROVEN LEADERSHIP PROVEN LEADERSHIP Executive Team Board of Directors Martin Turenne Peter Bradshaw Jim Gilbert PRESIDENT,CEO & DIRECTOR CHAIRMAN • MBA with 30+ years experience in international M/A and finance • Chartered Professional Accountant (CPA, CA) with • 45+ years’ experience in exploration
Slide 30: Contact
TSX-V:FPX | OTCQB: FPOCF Phone: +1 604-681-8600 ceo@fpxnickel.com Suite 320 – 1155 West Pender Street Vancouver, BC Canada V6E 2P4 Twitter: @FPX_Nickel.com fpxnickel.com