Metals X Limited · ASX:MLX
Metals X — Shareholder Meeting (November 2014)
31 slides from Metals X's shareholder meeting presentation, Nov 26, 2014
Slide 1: Annual General Meeting
ASX: MLX OTCQX: MTXXY GR: FG5 For personal use only Annual General Meeting 26 November 2014
Slide 2: AGM 2014 - Final Voting on Resolutions
AGM 2014 - FINAL VOTING ON RESOLUTIONS For personal use only Resolution Topic % For % Against Abst/Excl. &-')(*, #*,(*%,#('*!-+(' #*,(*%,#('#'!!' ('+(%#,#('( )#,% '*++ * (*&#!",+(($ * (*&#!",+%%& ('!*&'',#.%' 2
Slide 3: In the rear view mirror
In the rear view mirror For personal use only Last year in his address at AGM 2013, the Chairman spoke of: – The continued demise in resource equity markets and commodity prices. – Adoption of a conservative course across our 3 key divisions: » TIN - operational improvement, cash generation & reserv
Slide 4: Metal Price Performance – past months
Metal Price Performance – past 12 months For personal use only 4
Slide 5: Metal Price Performance – past months
Metal Price Performance – past 12 months For personal use only 5
Slide 6: A$ demise protects Australian producers from metal rout
A$ demise protects Australian producers from metal rout For personal use only 6
Slide 7: Australian gold equities oversold
Australian gold equities oversold. US$ gold sentiment drives the market. For personal use only 3000 $1,600 $1,400 2500 $1,200 2000 $1,000 1500 $800 XGD - Aust Gold Index A$ - Gold Price A$ gold price flat $600 1000 XAU – Gold index drops 35% in last 3 months. $400 500 $200 0 $0 Jan Feb Mar Apr May Ju
Slide 8: MLX Share price - Outperforming the Metals & Mining Index
MLX Share price - Outperforming the Metals & Mining Index. For personal use only 8
Slide 9: MLX Share price - Outperforming the Aust. Gold Index (XGD)
MLX Share price - Outperforming the Aust. Gold Index (XGD) For personal use only 9
Slide 10: Our Performance
OUR PERFORMANCE For personal use only Shares price high $0.28 Share price low $0.15 Share price – AGM 2013 $0.17 Share Price – AGM 2014 $0.19 THE ONLY TRUE MEASURE OF OUR PERFORMANCE IS THE SHARE PRICE !! 10
Slide 11: Financial Results (FY Ending June 2014)
FINANCIAL RESULTS (FY Ending 30 June 2014) For personal use only Key Financial Highlights (June 30 year end) : • Revenue of A$238.6M, up 247%. • EBITDA of A$71.7M, up 679%. • Profit of A$37.4M up 332%. • Net Operating Cash Flow A$73.4M, up 640%. • Return on Equity of 14.5%. • Net Assets increased to
Slide 12: Corporate Snapshot
CORPORATE SNAPSHOT as of today For personal use only ASX: MLX Shares on Issue (post consol.) 414 Million OTCQX: MTXXY GR: FG5 Market Capitalization $315 Million Enterprise Value ~A$220 Million ASX 300 Company (September re-balance) Top 50 Shareholders 80% Board & Management 45% 12
Slide 13: Globally Significant Tin Miner
1. Globally Significant Tin Miner For personal use only AUSTRALIA’S ONLY SIGNIFICANT TIN PRODUCER d publicly -worl y w e stern o t t h e onl cer f e w, if n tin produ ver y of the listed One 13
Slide 14: Tin Division Tasmanian Tin Projects (50% MLX)
TIN DIVISION TASMANIAN TIN PROJECTS (50% MLX) For personal use only 3 Key Tin Projects (50% owned and managed) 1. Renison Project • Integrated underground mine and tin concentrator. • World renowned as one of the great tin mines. 2. Rentails Project • A planned tailings re-treatment project and down
Slide 15: Tin Division Renison Bell Mine
TIN DIVISION RENISON BELL MINE (MLX 50%) For personal use only The Renison Bell Mine (100%) • In Production since 1968: 23.6Mt @ 1.4% Sn (231Kt recovered tin) • Reserves 5.51Mt @ 1.38% Sn (75.8Kt) – 8 yrs • Resources 11.5Mt @ 1.65% Sn (190Kt) – 16yrs • 2014/15: 7 - 7,500tpa Sn @ US$15,500 TCCS • Lon
Slide 16: Tin Division Renison Expansion Project (Rentails)
TIN DIVISION RENISON EXPANSION PROJECT (RENTAILS – MLX 50%) For personal use only 20.6 Million tonnes @ 0 .45%Sn 0.2 Proposed New Fumer Plant 1%Cu • Project Capital Cost Estimate (Metals X 50% share): – NewExisting Tin FinesRenison Mine Concentrator 2Mtpa ~A40 million Infrastructure – Tin Fumer Plan
Slide 17: Significant Gold Producer (& expanding)
2. Significant Gold Producer (& expanding) For personal use only Today - a top10 gold producer in Australia 4 Gold Projects 1. Higginsville Gold Operations – in production (ex. Alacer Gold). 2. South Kalgoorlie Operations – in production (ex. Alacer Gold). 3. Central Murchison Gold Project – in produ
Slide 18: Gold Division Higginsville Gold & South Kalgoorlie Operations
GOLD DIVISION HIGGINSVILLE GOLD & SOUTH KALGOORLIE OPERATIONS For personal use only 18
Slide 19: Gold Division Higginsville Gold Operations
GOLD DIVISION HIGGINSVILLE GOLD OPERATIONS For personal use only Mineral Resource base 13.3 Mt @ 2.88 g/t 1.23 Moz Ore Reserve 4.54 Mt @ 3.67 g/t Au 535,000 oz Trident underground mine is key production source. Procession of lower grade open pits. Higginsville Dec 2013 Q Mar 2014 Q Jun 2014 Q Sep 20
Slide 20: Gold Division South Kalgoorlie Operations
GOLD DIVISION SOUTH KALGOORLIE OPERATIONS For personal use only Mineral Resource base 50.3 Mt @ 1.98 g/t 3.2 Moz Ore Reserve (new estimate underway) HBJ underground mine restarted. Procession of lower grade open pits. and low grade stocks. South Kal Dec 2013 Q Mar 2014 Q Jun 2014 Q Sep 2014 Q 12 Mon
Slide 21: Gold Division: 12 Months of Ownership
GOLD DIVISION For personal use only 12-months of ownership of Alacer’s Australian Business Unit. 180,361 oz at ‘total cost of sales’ of A$999/oz EBITDA (unaud.) of A$106.9 million Versus Guidance 150,000 oz at ‘total cost of sales’ of A$1000/oz (EBITDA estimate A$80 – 85 million) Next year’s target
Slide 22: Gold Division Central Murchison Gold Project
GOLD DIVISION CENTRAL MURCHISON GOLD PROJECT Aiming for Production in mid-2015 For personal use only • 8.5 Moz resource base; • 2.0 Mtpa CIP Plant & Infrastructure; • 2 workers camps (250 persons); • Targeting 4-5 underground mines as core; • Building to 200 - 250,000oz/annum operation. 22
Slide 23: Gold Division Rover – IOCG (Tennant Creek)
GOLD DIVISION ROVER 1 – IOCG (TENNANT CREEK) Total Mineral Resource 1.2Moz Gold Eq.: 6.8Mt @ 5.6 g/t Au. Eq. (1.73 g/t Au, 2.07 g/t Ag, 1.21% Cu, 0.14% Bi, 0.05% Co) For personal use only Bonanza Gold intercepts 15.75m @ 29.4g/t Au High Grade Copper 21m @ 6.9% Cu, 0.9g/t Au Virgin Discovery at Feasi
Slide 24: Gold Division Building a Significant Gold Producer
GOLD DIVISION BUILDING A SIGNIFICANT GOLD PRODUCER For personal use only Capability – up to 500,000oz by end of 2018 FY 600000 + ROVER 1 500000 + CMGP 400000 ROVER 1 HGO 300000 SKO CMGP 200000 SKO 100000 HGO 0 2014/15f 2015/16f 2016/17f 2017/18f 2018/19f ROVER 1 0 0 20000 40000 65000 CMGP 0 50000 15
Slide 25: Australia's best performing gold producer in past months
Australia’s best performing gold producer in past 12 months For personal use only No. 1 25
Slide 26: Nickel Division Central Musgrave Project
NICKEL DIVISION CENTRAL MUSGRAVE PROJECT For personal use only • A major land holding covering the ultrabasic layered intrusives of the Giles Complex in the Musgrave Ranges in Central Australia. • The world class Wingellina Nickel Project – one of the largest undeveloped nickeliferous ‘pure oxide’ l
Slide 27: Wingellina – A Limonite Not A Laterite
NICEL DIVISION NICKEL WINGELLINA – A LIMONITE NOT A LATERITE For personal use only Wingellina Limonite Typical Austr. Laterites Strip Ratio 1:1 (0.5:1 for 20 years) 3-5 :1 Waste:Ore Ore Thickness (avg.) 80 m 5-15 m Tonnes / km2 50-60 Mt 5-15 Mt Iron / MgO Ratio High Iron / Low MgO Low Iron / Mod-Hig
Slide 28: Wingellina Nickel Project - DFS
NICKEL DIVISION WINGELLINA NICKEL PROJECT - DFS For personal use only 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
Slide 29: The Investment Synopsis
The Investment Synopsis For personal use only ASX: MLX Metals X is a diversified miner: OTCQX: MTXXY GR: FG5 • that pays dividends (yielding ~3.6% ungrossed). • that has a strong balance sheet. • who has fully funded growth options in gold and tin. • has diversified metal and revenue exposure. • has s
Slide 30: General Disclaimer
For personal use only 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 Compa
Slide 31: Thank you for your attendance and continued support
ASX: MLX OTCQX: MTXXY GR: FG5 For personal use only Annual General Meeting THANK YOU FOR YOUR ATTENDANCE AND CONTINUED SUPPORT 26 November 2014