Slide 1: Sorby Hills Lead-Silver Project Definitive Feasibility Study
For personal use only Sorby Hills Lead-Silver Project Definitive Feasibility Study 25 January 2023 Boab Metals Limited ASX:BML
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Compliance Statement For personal use only Certain statements in the presentation are or may be “forward-looking statements” and The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore represent the Company’s intentions, projections
Slide 3: The Proven Battery Metal
The Proven Battery Metal Pb Lead The primary component of the 12V batteries found in traditional and electric vehicles. For personal use only • Demand growth underpinned by mature and emerging vehicle technologies. • Supported by rapid growth in utility and renewable energy storage1. 1. www.batteryi
Slide 4: The Most Conductive Metal on Earth
The Most Conductive Metal on Earth Ag Silver Ideal metal for use in solar cells and the electronic components of electric vehicles. For personal use only • Silver‘s traditional role as a storer of wealth is complemented by its increasing industrial demand. • The use of Silver in solar cells has incr
Slide 5: Study Highlights
Sorby Hills Definitive Feasibility Study Study Highlights For personal use only • Strong pre-tax economics including A$705M net cash flow, NPV8 A$370M, IRR 35%, and average EBITDA of A$119M per annum. • High-confidence study with up-to-date tendered pricing for 75% of Capital Costs. • A$245M pre-pro
Slide 6: Achievements and Opportunities
Sorby Hills Definitive Feasibility Study Achievements and Opportunities For personal use only • 78% increase in Measured Resources and a 12% increase in Ore Reserves highlights the Project's economic feasibility. • Potential to improve Resource and Production Target as a result of the final Phase V
Slide 7: Progress towards a Final Investment Decision
Sorby Hills Definitive Feasibility Study Progress towards a Final Investment Decision For personal use only • Independent Technical due diligence completed on the Mineral Resource and Metallurgical testwork program. • Mining Leases granted, EPA Approval in place. • Independent ESG status review agai
Slide 8: Joint Venture
Sorby Hills Joint Venture Boab (75% interest) Henan Yuguang Gold and Lead Co., Ltd For personal use only (25% contributing interest) • Yuguang Gold and Lead Co., Ltd (“Yuguang”) is Asia’s largest electrolytic lead producer and China’s largest Silver producer.1 • Initially invested in Sorby Hills Joi
Slide 9: High Quality Mineral Resource Estimate
Sorby Hills Definitive Feasibility Study High Quality Mineral Resource Estimate For personal use only Tonnes Grade Contained Metal Deposit Classification Pb Zn Ag PbEq1 Pb Zn Ag (Mt) % % g/t % kt kt koz Inferred 0.6 5.3% 1.0% 23 6.1% 31 6 427 A Sub Total 0.6 5.3% 0.1% 23 6.1% 31 6 427 Measured 1.4 3
Slide 10: Production Target and Reserve Estimate
Sorby Hills Definitive Feasibility Study Production Target and Reserve Estimate For personal use only DFS Production Target Open Pit Mining. Pit Total Waste ROM Pb Ag PbEq Strip (Mt) (Mt) (Mt) (%) (g/t) (%) Ratio Pit A 4.1 3.7 0.5 3.7 16.4 4.3% 8.1 18.3Mt Production Target(4.8% PbEq1) Pit B 14.8 12.
Slide 11: Life of Mine Production Profile
Sorby Hills Definitive Feasibility Study Life of Mine Production Profile For personal use only Mining Schedule 1,800,000 6.0% 120 1,500,000 5.0% 100 Lead Grade (%) Silver Grade (g/t) Tonnes Mined 1,200,000 4.0% 80 900,000 3.0% 60 600,000 2.0% 40 300,000 1.0% 20 - 0.0% 0 01-Jan-23 01-Jan-24 01-Jan-25
Slide 12: Significant Resource and Reserve potential
Sorby Hills Definitive Feasibility Study Significant Resource and Reserve potential For personal use only Near-term opportunities to increase Production Target A B B A Figure: Norton deposit cross Section showing the position of recently completed drill holes, intercepts and reinterpreted outline of
Slide 13: Metallurgical Testwork
Sorby Hills Definitive Feasibility Study Metallurgical Testwork For personal use only Summary of Comminution Testwork results Comprises DFS testwork UCS SG DWi Rod Wi Ball Wi undertaken on 1,420kg of Ore Type mPa t/m3 kWh/t kWh/t kWh/t diamond core samples taken Fresh (average) 31.6 2.72 5.40 15.33
Slide 14: Process Flow Sheet
Sorby Hills Definitive Feasibility Study Process Flow Sheet For personal use only 2.25Mtpa Process Plant Conventional Process Plant supported by extensive metallurgical testwork and process engineering. Ball Mill: Available Year 1 Operating from Year 2 GR Engineering Services (“GRES”) selected as pr
Slide 15: Infrastructure
Sorby Hills Definitive Feasibility Study Infrastructure For personal use only On-Site infrastructure includes: • Tailings Storage Facility (“TSF”); • Mine Water settling pond; • Water Storage Facility; • Evaporation Ponds; and • Water Treatment Plant. Off-Site Infrastructure includes: • Accommodatio
Slide 16: Clean Power Solution
Sorby Hills Definitive Feasibility Study Clean Power Solution For personal use only Heads of Agreement executed with Horizon Power with respect to a future Power Purchase Agreement for Sorby Hills. Key Indicative Terms • Delivery of firm power over a 10-year term with a purchaser option to extend; a
Slide 17: Path to Market
Sorby Hills Definitive Feasibility Study Path to Market For personal use only Agreement for Access and Stevedoring Service executed with Cambridge Gulf with respect to Wyndham Port. Term extending to April 2034 with an automatic rollover on a 12-monthly basis. Wyndham Port is located 150km by existi
Slide 18: Capital Costs
Sorby Hills Definitive Feasibility Study Capital Costs For personal use only Pre-production Sustaining Total Tendered Pricing for 75% of Item (A$M) (A$M) (A$M) Capital Costs to reduce the risk Early Works / Bulk Earthworks / Road Construction 9.9 15.7 25.6 of pre-FID cost escalation. Process Plant a
Slide 19: Operating Costs
Sorby Hills Definitive Feasibility Study Operating Costs For personal use only Total Unit Costs Competitive C1 cash cost of US$0.39/lb Item (A$M) A$/t ore US$/lb payable Pb payable Pb (including Silver Credits). Mining 591 32.4 0.34 Processing 391 21.4 0.22 ~80% of Mining Costs underpinned by G&A 88
Slide 20: Life of Mine Physicals
Sorby Hills Definitive Feasibility Study Life of Mine Physicals For personal use only PHYSICALS SUMMARY Unit Total FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 ROM Mined Mt 18.3 - - 2.1 2.1 2.3 2.5 1.9 2.2 1.8 3.3 - - Waste Mined Mt 134.6 - - 11.7 11.6 12.2 24.3 26.1 25.6 19.6 3.5 - -
Slide 21: Life of Mine Cash Flows
Sorby Hills Definitive Feasibility Study Life of Mine Cash Flows For personal use only FINANCIAL SUMMARY Unit Total FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 Lead Revenue A$M 1,789.7 - - 177.1 223.9 227.2 187.0 206.2 221.5 205.6 248.7 92.4 - Silver Revenue A$M 691.7 - - 49.1 73.4 8
Slide 22: Indicative Timeline to Production
Sorby Hills Definitive Feasibility Study Indicative Timeline to Production For personal use only Milestone Date DFS Completion Jan 2023 Project Finance Secured May 2023 Board / JV Approval to Commence Project May 2023 First Ore Aug 2024 First Shipment of Lead-Silver Concentrate Sep 2024 Dates for Ke
Slide 23: Thank You
For personal use only Simon Noon – Managing Director & CEO info@BoabMetals.com www.BoabMetals.com www.linkedin.com/company/boab-metals Thank You
Slide 24: Appendix
For personal use only Appendix Boab Metals Limited ASX:BML Copyright ©BOAB 24
Slide 25: Board and Management
Board and Management For personal use only Gary Comb Simon Noon Richard Monti Andrew Parker Chairman Managing Director Non-Exec. Director Non-Exec. Director and CEO Board & Engineer with over 30 Experienced mining Geologist with over 30 Lawyer with significant Management with a years’ experience in
Slide 26: Corporate Summary
Boab Metals Limited Corporate Summary For personal use only Capital structure (24 January 2023) Share Price History Share Price Debt 10.0 0.50 A$0.29 / share Nil Share Price (A$/share) Volume (million shares) 8.0 0.40 Shares on Issue Cash 6.0 0.30 174 million shares A$4.2million (31 December 2022) 4
Slide 27: Establishing Deep Roots within the Community
Boab Metals Limited Establishing Deep Roots within the Community For personal use only Boab is extremely proud to be the Naming Rights Sponsor of the Ord Valley Muster for 2023 and beyond. • Sense of community plays a key role in economic and social well-being of stakeholders across the east Kimberl
Slide 28: Supporting better outcomes
Boab Metals Limited Supporting better outcomes For personal use only For many children, living in a rural or remote area of Australia means they will have significantly lower educational outcomes, which have a profound effect on their future. Boab Metals has been partnering with Teach Learn Grow (TL
Slide 29: Strategic Acquisitions: Eight Mile Creek
Boab Metals Limited Strategic Acquisitions For personal use only Boab owns a 100% interest the Eight Mile Creek - Exploration Licence E80/5317 Key highlights include: ✓ Exploration Tenements ✓ Drilling has confirmed the covering 206 km2 of existence of a favourable relatively underexplored stratigra
Slide 30: Strategic Acquisitions: Manbarrum
Boab Metals Limited Strategic Acquisitions For personal use only Boab has acquired a 100% interest in the Manbarrum Zinc- Lead-Silver Project Key highlights include: ✓ Manbarrum is strategically ✓ Mineral Resources declared at located 25km east of the Sorby two prospects within the Hills Lead-Silver
Slide 31: Metal Equivalent calculation
Metal Equivalent It is Boab’s opinion that all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold. The formula used to calculate lead equivalent grade is: calculation Metal Eq (percent) = G pri + (G pri × [∑i R i Si Vi G i ]/(Rpri Spri Vpri G p