Black Canyon Limited · ASX:BCA
Black Canyon — Investor Presentation (September 2025)
18 slides from Black Canyon's investor presentation, Sep 4, 2025
Slide 1: Pilbara Focused Manganese Developer & Explorer
For personal use only Pilbara Focused Manganese Developer & Explorer September 2025 ASX:BCA blackcanyon.com.au
Slide 2: Disclaimer & Forward-Looking Statements
Disclaimer & Forward-Looking Statements The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. The opinions and recommendations in this presentation are not intended to represen
Slide 3: Manganese Developer and Explorer
Manganese Developer and Explorer For personal use only Essential for alloys used in the Substantial Global MRE totaling Traditional manganese Scoping Study at the KR1 steel industry and critical for 314 Mt @ 10.5% Mn containing concentrate for the Mn alloying and KR2 deposits demonstrate Cathodes in
Slide 4: Corporate Overview
Corporate Overview ASX:BCA Graham Ascough Non-Executive Chairman $0.485 133.2m 7.0m Geophysicist Mr Ascough is a resources executive and geophysicist with more than 30 years’ experience. He is presently Non-Executive Share Price Shares on Unlisted Options Chairman of Geopacific Resources Ltd and Non
Slide 5: Manganese Fundamentals
Manganese Fundamentals World Manganese Production (2022 USGS) Steel Production South Africa Gabon Essential for steel to improve performance with Australia For personal use only approx. 90% used in the production of steel. China Ghana India Every ton of steel produced contains between 6 - 15kg M
Slide 6: Asset Overview
Asset Overview ~ 2,200km2 of Granted Licenses Balfour Mn Field – six manganese discoveries Multiple development options across the Balfour Mn Field with the KR1 and KR2 Scoping Study generating an NPV8 of $340m, IRR of 70%, AISC of US$3.38 dmtu For personal use only and CAPEX of $84.1m Greenfi
Slide 7: High Grade Wandanya Manganese and Iron Discoveries
High Grade Wandanya Manganese and Iron Discoveries (BCA100%) Greenfields Discovery Hydrothermal Mn grades similar to the For personal use only Woodie Woodie Mn Mine, mapped and sampled over 3km strike. Iron enrichment mapped along a 5km corridor, with higher iron grades associated with the Mn al
Slide 8: Manganese and Iron Discovery Drilling Programs
Wandanya Manganese and Iron Discovery Drilling Programs For personal use only Phase 1 discovery drilling completed in September 2024 Phase 2 extension drilling completed in June 2025 to increase the footprint 900m to the north and between 200m and 400m cross strike Phase 3 further extension dr
Slide 9: Significant Phase and RC Drill Results
Wandanya Significant Phase 1 and 2 RC Drill Results For personal use only INVESTOR PRESENTATION 9 BCA ASX Announcement 07/08/2025 Shallow, high-grade Manganese continues across Wandanya and ASX announcement 27/08/2025 Thick, high-grade manganese intersects from Wandanya
Slide 10: Significant Phase RC Drill Results
Wandanya Significant Phase 2 RC Drill Results For personal use only INVESTOR PRESENTATION X-section 7,525,900mN BCA ASX Announcement 07/08/2025 Shallow, high-grade Manganese continues across Wandanya and ASX announcement 27/08/2025 Thick, high-grade manganese intersects from Wandanya 10
Slide 11: Significant Phase RC Results
Wandanya Significant Phase 2 RC Results 480m south of X-section 7,525,900mN For personal use only INVESTOR PRESENTATION X-section 7,525,420mN 11 BCA ASX Announcement 07/08/2025 Shallow, high-grade Manganese continues across Wandanya and ASX announcement 27/08/2025 Thick, high-grade manganese interse
Slide 12: Significant Phase and RC Results
Wandanya Significant Phase 1 and 2 RC Results 700m south of X-section 7,525,420mN 720m south of X-section 7,524,720mN For personal use only INVESTOR PRESENTATION X-section 7,524,720mN X-section 7,524,000mN BCA ASX Announcement 07/08/2025 Shallow, high-grade Manganese continues across Wandanya and AS
Slide 13: Site Photos
Wandanya Site Photos For personal use only Image looking to the northwest showing drill lines along and cross strike of the east dipping manganese horizon INVESTOR PRESENTATION Image looking to the south showing the north-south oriented drill line on the ridge and western boundary of the iron enrich
Slide 14: W2 Prospect Preliminary Metallurgy
Wandanya – W2 Prospect Preliminary Metallurgy Consistent grades and thickness of mineralisation Metallurgical Testwork: density-based beneficiation (HLS) HLS testwork summary of results from the moderate and WDRC013 WDRC027 WDRC032 high-grade composites For personal use only Head HLS Results Sample
Slide 15: Manganese and Iron Discovery Geology
Wandanya – Manganese and Iron Discovery Geology East Pilbara Stratigraphic Column Schematic Wandanya Mineralisation Model For personal use only W E Balfour Manganese Field Wandanya Discovery INVESTOR PRESENTATION Woodie Woodie Woodie Woodie * = Mn Ore Age of the Mn mineralisation at Woodie Woodie be
Slide 16: Exploration Expansion – north, east and south (Ndalamo Acquisition)
Exploration Expansion – north, east and south (Ndalamo Acquisition) For personal use only INVESTOR PRESENTATION BCA ASX Announcement 16/06/2025 Tenement Acquisitions to Consolidate the Wandanya Project 16
Slide 17: Black Canyon a Manganese focused Growth Story based on Exploration Success
Black Canyon a Manganese focused Growth Story based on Exploration Success For personal use only 2021/22 2023 2024 Progress in 2025 Wandanya Metallurgical Testwork BCA IPO May 2021 Battery Grade HPMSM Announced Exploration Target producing concentrate grades Achieved between 45 and 50% Mn Widespread
Slide 18: Contact
For personal use only Contact Brendan Cummins Managing Director 0400 799 756 brendan.cummins@blackcanyon.com.au ASX:BCA blackcanyon.com.au
Black Canyon — Investor Presentation (September 2025) on 6ix