Slide 1: RIU Explorers – Fremantle, February 2016
RIU Explorers – Fremantle, February 2016 ASX:MLX
Slide 2: Our Profile
Our Profile ASX 300 Company – Market Cap of ~A$500 million. Top 10 Australian Gold Producer. Largest Tin Producer in Australia. Large portfolio of assets in gold and base metals. Strong and un-geared balance sheet. 2
Slide 3: Project Locations
Project Locations Metals X is an Australian focused diversified miner. Nifty Copper Mine (~27% shareholding) Note: Metals X has made a takeover offer for all the shares in Aditya Birla, owner of the Nifty Copper mine. 3 3
Slide 4: Our Philosophy
Our Philosophy We work for our shareholders. Our share price is the only measure of our success. If we make profit we must share it with our shareholders. Diversification provides stability. Strong and un-geared balance sheet – wary of debt. 4 ç
Slide 5: We work for our Shareholders
We work for our Shareholders APAC Resources Ltd (HK1104) - 22% Jinchuan Group Ltd -10% Blackrock – 8% Skin in the game Board & Management – 8% 475 m shares on issue - market cap ~ $500 m - enterprise value ~ $430 m 5
Slide 6: Our Share Price Performance
Our Share Price Performance 1 year view 2 year view 6
Slide 7: Sharing Our Profits - Dividends
Sharing Our Profits - Dividends FY 2013/2014 FY 2014/2015 7
Slide 8: Big Portfolio of Gold and Base Metals Assets
Big Portfolio of Gold and Base Metals Assets Base Metals Gold Division The Bank Tin Nickel Other Base Higginsville (HGO) Division Division Metals - Mt Henry Project A$60M+ Cash, Explorer 108 Working Capital + South Kal (SKO) - (Pb-Zn-Ag) Cannon/GR Investments Renison Mine Central Murchison (50%) Cur
Slide 9: Gold Division
Gold Division 5 key gold projects Higginsville - Higginsville - South Kalgoorlie - Central Murchison - Fortnum - Rover 1 South Kalgoorlie 4 complete process plants (3 operating – 5.5 Mtpa of capacity) Gold Resource Inventory of over 18 million ounces Central Murchison Ore Reserve Inventory of over 2
Slide 10: Higginsville
Higginsville Modern 1.3Mtpa CIL plant with blended feed stock. Production of over 1 million oz in last 7 years. Operating at 100,00 – 120,000oz p.a level from blended feedstock (open pit and Trident underground mine). AISC circa A$1200/oz region ($400/oz margin) Newly added Mt Henry Project (1m oz +
Slide 11: Higginsville
Higginsville Mineral Resource (30 June 2015) 13.8 Mt @ 2.68 g/t Au,1.18 Million Oz Ore Reserve (30 June 2015) 3.57 Mt @ 2.95 g/t Au 339,000 Oz Mineral Resource (30 June 2014) 43.18 Mt @ 1.19 g/t, 1.66 Million Ozs Ore Reserve 20.2Mt @ 1.42g/t, 0.923 Million Ozs Mt Henry 21.3Mt @ 1.23 g/t Selene 21.4M
Slide 12: South Kalgoorlie
South Kalgoorlie Older 1.2Mtpa CIP plant with blended feed stock. Operated for 25 years – cumulative production of over 2 million oz. Building to 80– 100,000oz p.a level from blended feedstock (HBJ underground mine the main source + blended open pits, LG stocks, & tolling). Profit sharing ventures a
Slide 13: South Kalgoorlie
South Kalgoorlie Mineral Resource (30 June 2015) 45.7 Mt @ 2.25 g/t 3.3 Million Oz Ore Reserve (30 June 2015) 2.2 Mt @ 2.49 g/t 174,000 Oz HBJ Mine 13
Slide 14: Central Murchison
Central Murchison Fully refurbished 2Mtpa CIP plant with blended feed stock. Commenced production in mid-October 2015. First 12 months a build up period with low grade stocks and low grade open pit ores whilst underground mines are developed. This will be higher costs in first years and capital inte
Slide 15: Central Murchison
Central Murchison Key Focus – the Larger Underground Mines Big Bell – Historic 2.6Moz, Current Resource 28.7Mt @ 2.7g/t, 2.6Moz Great Fingall/Crown - Historic 1.5Moz, Current Resource 3.4 Mt @ 6.1g/t, 0.66Moz Comet Mine Paddy’s Flat – Historic 1.3Moz, Current Resource 7.9Mt @ 3.5g/t, 0.89Moz Reedy’s
Slide 16: Fortnum
Fortnum A development ready gold project Production ~ 50,000 – 70,000ozpa. AISC ~A$1200/oz. Mineral Resource (30 June 2014) Target mid-2016 start. 34 Mt @ 1.79 g/t 1.97 Million Oz 1Mtpa Process plant and infrastructure, 100 person camp Immediate Plans Yarlarweelor Open Pit 5.5Mt @ 1.6g/t Starlight U
Slide 17: Rover 1
Rover 1 Virgin IOCG discovery. High grade copper-gold-bismuth resource 6g/t gold equivalent/ Resource base of 1.2 million ounces . Pre-feasibility completed – good mining metrics (only 300-600mVD) Latest drilling – bonanza results: Current status: Drilling between 600 & 900m completed Resource updat
Slide 18: Gold Target Growth Capability
GOLD TARGET GROWTH CAPABILITY Target Gold Production - by Project 540,000 490,000 460,000 440,000 600000 50000 500000 320,000 30000 60000 60000 60000 60000 400000 20000 230000 180000 200000 200000 300000 115000 200000 65000 80000 80000 80000 80000 100000 120000 120000 120000 120000 120000 0 CY 2016
Slide 19: Gold: How do we rank? EV per resource ounce
GOLD How do we rank? EV per resource ounce 300.0 250.0 200.0 150.0 100.0 50.0 0.0 Kingsgate Metals X Silver Lake Beadell Millennium Ramelius Newcrest Saracen St Barbara Alkane Oceanagold Regis Doray Norther Star Evolution Resources Resources Minerals Resources Mining Minerals Exploration Corp Resour
Slide 20: Gold: How do we rank? P/NAV
GOLD How do we rank? P/NAV (x) 1.30x 1.21x 1.20x 1.15x 1.10x 1.00x Average 1.01x 0.62x 0.45x NST IGO RRL OGC EVN SAR RSG MLX 20 20 Source Data : Hartley’s Jan 2016
Slide 21: Base Metals Division
Base Metals Division 5 key gold projects: - Renison Tin Mine - Rentails Tin Project - Wingellina Ni-Co-Fe-Sc - Rover Project Cu-Pb-Zn - Nifty Copper (~27% via ABY) 21
Slide 22: Tin: Australia's Only Significant Tin Producer
TIN AUSTRALIA’S ONLY SIGNIFICANT TIN PRODUCER Rentails Proposed Project Infrastructure The Renison Mine (MLX 50%) -ne of the largest tin mines ever operated globally, 45+ years of production. Renison Mine Renison Mine & Infrastructure Infrastructure 22
Slide 23: Tin: Tasmanian Tin Operations (50%)
TIN TASMANIAN TIN OPERATIONS (50%) MLX Renison Project (100%) • Production from 1968: 23Mt @ 1.4% Sn (225Kt recovered). • Reserves 6.7Mt @ 1.29% Sn (86Kt) – 10 yrs. • Resources 12.9Mt @ 1.46% Sn (188Kt) – 18yrs. • 2015/16: 7 - 7400tpa Sn @ A$18,000 TCCS. MLX share (50%) • EBITDA ~ $10Mpa at A$20,000
Slide 24: Tin: Renison Expansion Project (Rentails)
TIN RENISON EXPANSION PROJECT (RENTAILS – MLX 50%) Proposed New Fumer Plant Existing Renison Mine Infrastructure • Reserve: 20.97Mt @ 0.45% Sn (94Kt tin). • Project Capital Cost Estimate (Metals X 50% share): – New Tin Fines Concentrator 2Mtpa ~A$40 million – Tin Fumer Plant 60ktpa ~A$40 million – N
Slide 25: Nickel Central Musgrave Project
NICKEL CENTRAL MUSGRAVE PROJECT 25
Slide 26: Nickel Central Musgrave Project
NICKEL CENTRAL MUSGRAVE PROJECT A major land holding – oxide & sulphide nickel, copper and platenoids. A mining agreement covering 18,000km2 (projects + infrastructure). The world class Wingellina Nickel Project - one of the largest undeveloped nickeliferous ‘pure oxide’ limonite accumulations in th
Slide 27: Nickel CMGP – Feasibility Outcomes
NICKEL CMGP – Feasibility Outcomes Ore Reserves 167.5M tonnes @ 1% Ni, 0.08% Co Annual Metal Production 40,000 tonnes Ni, 3,000 tonnes Co Mine Life 40+ Years Metal Price Assumptions Ni US$20,000/t, Co US$45,000/t Exchange Rate Assumption AUD 0.85 Production Cost US$3.34/lb (after Co credits) Est. Av
Slide 28: The Corporate Strategy
THE CORPORATE STRATEGY Has been: Diversification makes you stronger. Grow and expand our Gold Division. Seek opportunities to enhance our Base Metals Division. Limit Debt & only buy value. Future Considerations to Enhance Shareholder Value: Simplify our corporate structure and asset base. Separation
Slide 29: The Investment Synopsis
THE INVESTMENT SYNOPSIS Metals X is an emerging gold miner (Aust Top 10). A diversified company - revenue and profits across several metals. • Growing Production and increasing margins • Fiscally strong – sufficient cash to fund growth. • ASX 300 & Dividend paying. • Fully funded growth options in g
Slide 30: Proudly Positioned as an Australian Miner
PROUDLY POSITIONED AS AN AUSTRALIAN MINER General Disclaimer This presentation has been prepared by Metals X Limited (“Metals X” or the “Company”). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Company. This presentation