Highfield Resources Limited · ASX:HFR
Highfield Resources — Shareholder Meeting (May 2025)
21 slides from Highfield Resources's shareholder meeting presentation, May 30, 2025
Slide 1: AGM – Presentation
ASX ANNOUNCEMENT 30 May 2025 ASX:HFR AGM – Presentation Highfield Resources Limited (ASX: HFR) (Highfield or the Company) encloses a copy of a presentation to be delivered by Olivier Vadillo, Head of Corporate Strategy and Business Development, and Carles Aleman, CEO of Geoalcali, at the Company’s A
Slide 2: About Highfield Resources
ASX ANNOUNCEMENT About Highfield Resources Highfield Resources is an ASX listed potash company which is planning on commencing full scale construction of its flagship high margin, low capex Muga Project in Spain having finalised the initial site preparatory work and having received all permits and k
Slide 3: Highfield Resources Annual General Meeting
For personal use only Highfield Resources Annual General Meeting
Slide 4: Disclaimer
Disclaimer COMPETENT PERSONS STATEMENT FOR MUGA ORE RESERVES, MUGA MINERAL RESOURCES and EXPLORATION TARGET For personal use only This update was prepared by Mr. Ignacio Salazar Director of Highfield Resources. The information in this update that relates to the Ore Reserve reported as of 31 October
Slide 5: Highfield Resources
Highfield 7 Resources
Slide 6: Leadership change
Leadership change Carles Aleman - CEO For personal use only • Career Highlights • Well respected industry professional • Over 30 years of international leadership in chemical and mining industries. • Held senior positions at BASF, CIBA-GEIGY, and Pymag- Curtin (as Managing Director). • Former Presid
Slide 7: Continued support from Yankuang
Continued support from Yankuang Visit from Yankuang two weeks ago highlights their continued commitment For personal use only • Yankuang visit • Recent site vist from Yankuang highlights continued commitment to the Project and to the recent developments. • Government commitment • Vice President Tabe
Slide 8: Recent Local and Regional Government initiatives
Recent Local and Regional Government initiatives Recent dialogue highlights the shared commitment to responsible and sustainable resource development. For personal use only • Goyo Mining permits • We are optimising our strategy and current roadmap with regards to our engagement with regional and cen
Slide 9: LOI signed with a subsidiary of China Minmetals for US$300 Million Equity Subscription
LOI signed with a subsidiary of China Minmetals for US$300 Million Equity Subscription This partnership will underline Highfield’s global expansion strategy and strengthens its financial and operational capabilities. For personal use only • Key Agreement • Highfield signed a non-binding LOI with Qin
Slide 10: Additional Financial Support from EMR Capital
Additional Financial Support from EMR Capital Securing Strategic Funding for the Muga Project For personal use only • New Stand-by Loan Facility • Up to €1.15 million secured from EMR Capital • Supports working capital flexibility and general costs during this transition phase. • Convertible Loan No
Slide 11: Appendix
For personal use only APPENDIX
Slide 12: Why Highfield Resources?
Why Highfield Resources? For personal use only Targeting €340 Forecast to be Fully permitted Location is a major million per one of the and shovel strategic The Muga Potash annum EBITDA1 highest margin ready project in advantage. Shallow Potash operation potash mines Spain mineralization. Mine is se
Slide 13: Muga Project Overview
Muga Project Overview For personal use only A potash developer listed on Local Spanish head office and project office with the ASX (HFR) with projects the entire executive team based in Pamplona, near the Muga Project site in Northern Spain Muga Mine Muga is a two-phase project which will produce a
Slide 14: Team
Team Board overview Management overview For personal use only Paul Harris, Independent Non-Executive Chairman Carles Alemán, CEO ▪ Joined Board March 2022. ▪ More than 30 years’ experience working in international focused managerial roles in the chemical sector ▪ Over 25 years’ experience in financi
Slide 15: Potash Market Overview
Potash Market Overview Global food security will be a key theme in the future with population increasing and For personal use only arable land decreasing growing the need for more fertiliser use Potash prices are very strongly corelated to crop prices 2.5 10.0 Crop prices are expected to recover wit
Slide 16: Location is a Key Competitive Advantage
Location is a Key Competitive Advantage Access to Customer Markets For personal use only • Strategically located in the middle of the European market • Potash price premium in Europe ~1,750km from mine to port ~1,700km from mine to port ~6,800 nautical miles Primary Market – U.S. Muga ~8,700 nautica
Slide 17: Other Key Competitive Advantages
Other Key Competitive Advantages For personal use only • Excellent infrastructure in place with immediate access to ports, transport and renewable grid power • Straightforward access to the mine with National Electricity Grid Substation in Sangüesa two ramps, no shafts, no aquifers and shallow miner
Slide 18: Top Quartile Margins
Top Quartile Margins For personal use only Europe trades at a premium to other markets Margin curve forecast for 2026 (real US$) 1,150.0 MOP bulk fob Vancouver US$/t 290.0 1,050.0 Rest of world Highfield Potash Granular MOP bulk cfr northwest Europe 950.0 240.0 (EUR/t converted to US$/t) 850.0 190.
Slide 19: Low Initial Investment
Low Initial Investment For personal use only MUGA has half the capex intensity compared to other global development projects (US$ Per Tonne Of Potash) 2,500 Capex intensity US$/t 2,000 1,500 Average capex (US$/t) 1,000 500 - Milestone Phase Bamnet Narong Southey Jansen Phase 1 Woodsmith Colluli Kola
Slide 20: Outstanding Project Economics
Outstanding Project Economics For personal use only ECONOMICS OPERATIONAL 2 phase planned Excellent logistics with €340 million pa Strategically located NPV8 of €1.82 billion First quartile margin production up to access to renewable EBITDA in full with low cost access 23% IRR (post-tax) position 1M
Slide 21: For personal use only
For personal use only ASX:HFR REGISTERED OFFICE 169 Fullarton Road Dulwich SA 5065 Australia SPAIN HEAD OFFICE Avenida Carlos III, 13-15, 1B, 31002 Pamplona, Spain T: +34 948 050 577 | F: +34 948 050 578 FURTHER INFORMATION Ignacio Salazar CEO T: +34 948 050 577 Olivier Vadillo Investor Relations T: