WIN Metals Ltd · ASX:WIN
WIN Metals — Widgie Nickel — Investor Presentation (August 2021)
32 slides from WIN Metals's investor presentation, August 2021
Slide 1: Corporate Presentation
Corporate Presentation August 2021 Mt Edwards Headframe (c1976) www.widgienickel.com.au Picture: Jim Reeve
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer This presentation has been prepared by Neometals Ltd (for the proposed demerger of Widgie Nickel Pty Ltd (“WIN” or the “Company”)) to assist in informing interested parties about the Company. It should not be considered as an offer or invitation to subscribe for or purc
Slide 3: Widgie Nickel Overview
Widgie Nickel Overview 132N Deposit
Slide 4: Investment Highlights
Investment Highlights 100% owned Mt Edwards Project – Strategically positioned next to major infrastructure ~240km2 tenements covering the highly (road, rail, energy & water) & processing hubs prospective Widgiemooltha Dome Significant Mineral Resources Experienced & dedicated team with relevant nic
Slide 5: Corporate Rationale – Widgie Nickel
Corporate Rationale – Widgie Nickel Located in the established Kambalda District – dedicated management and funding to drive value Widgie Nickel is an aspiring mid-tier nickel producer in the heart of the Kambalda District Widgie Nickel is a demerger from Neometals Ltd (ASX:NMT) • Demerger will dist
Slide 6: Widgie Nickel – Proposed Capital Structure
Widgie Nickel – Proposed Capital Structure Widgie provides the 11 deposits the independent funding and management resources they deserve Capital Structure Unit Shares pursuant to In-Specie Distribution – NMT Shareholders M 130.0 Shares offered under Underwritten Entitlement Issue M 120.0 Total Share
Slide 7: Widgie Nickel – Strategy
Widgie Nickel – Strategy Aiming to be production ready for end of 2023 Aiming to be production ready in 2 years • Undertake work programs designed to increase resource size & confidence of existing resources and commence development studies • Commence further exploration with a goal to discover more
Slide 8: Value Proposition – Widgie Nickel
Value Proposition – Widgie Nickel Tier one jurisdiction and infrastructure support focus on returning Mt Edwards to production Widgie presents investors with a compelling opportunity to gain exposure to the clean energy future Ability to leverage off a large nickel sulphide resource base in a global
Slide 9: Widgie Nickel – Nickel Sulphide Peer Comparison
Widgie Nickel – Nickel Sulphide Peer Comparison Widgie’s Enterprise Value per Nickel tonne compares favourably with ASX listed peers 400 395 kt Ni 2,000 1,781 1,800 350 1,501 1,600 300 1,399 EV / Metal t (A$/t Contained Ni) 1,400 Contained Metal (kt Ni) 250 1,200 210 kt Ni 200 1,000 870 163 kt Ni 80
Slide 10: Proposed Use of Funds & Indicative Timing
Proposed Use of Funds & Indicative Timing 32 Preparing a multi-mine development plan for the upswing in clean energy metals Use of Funds ($k) Year 1 Year 2 Total Mt Edwards Development 2021 2022 2023 Approvals 125 100 225 Resource and Extensional Drilling 5,251 3,511 8,762 Infill and Extensional Dri
Slide 11: Board and Management
Board and Management 33 Experienced & dedicated team with relevant nickel exploration and production track record Andrew Parker Steve Norregaard Felicity Repacholi-Muir Scott Perry Graeme Scott Non-Executive Chair Managing Director and CEO Non-Executive Director Non-Executive Director Company Secret
Slide 12: The Endowment
The Endowment Widgie provides the 11 deposits the independent funding and management resources they deserve Indicated Inferred Total Resources Tonnes Grade Tonnes Grade Tonnes Grade Contained Deposit (kt) (% Ni) (kt) (% Ni) (kt) (% Ni) (t Ni) Widgie 3 626 1.5 626 1.5 9,160 Gillett 1,306 1.7 1,306 1.
Slide 13: Mt Edwards Regional History
Mt Edwards Regional History Historically produced 31,000 Nickel Tonnes across 4 mines from 1980 to 2008 Prior to Neometals Acquisition First significant Nickel discovery was Mt Edwards (26N) by INAL (International Nickel Australia Ltd) in November 1967 Historical Nickel production of 30,986 from fou
Slide 14: Widgie South- Base Load
Widgie South- Base Load Widgie Townsite, Gillett and Widgie 3 comprises ~44% of the current Mt Edwards Mineral Resource Widgie Townsite | Mineral Resource of 2.48Mt @ 1.6% Ni for 39.3kt Ni Widgie 3 & Gillett | Mineral Resource of 1.93Mt @ 1.6% Ni for 31.7kt Ni 14
Slide 15: Higher Grade Satellite - Armstrong
Higher Grade Satellite - Armstrong Rapid development timeframe possible Currently on care and maintenance and studies sufficiently advanced to be capable of being accelerated to production Mineral Resource of 663kt @ 2.1% Ni for 13.2Kt Ni Located on a granted mining lease High grade massive ore com
Slide 16: Higher Grade Satellite – Munda
Higher Grade Satellite – Munda Untouched nickel mineralisation- High Grade Munda nickel mineralisation co-exists with gold mineralisation. Small existing pit mined for gold – 1980's. Opportunity for mining gold and nickel concurrently - share costs 320,000t @ 2.25 Ni for 7.14Kt of Ni Open at depth H
Slide 17: Higher Grade Satellite - 132N
Higher Grade Satellite - 132N Massive nickel in 132N pit wall Pit dry, mineralisation readily accessible Located on a granted mining lease Mineral Resource of 460kt @ 2.0% Ni for 9.05Kt Ni High grade massive ore component Open at depth Residual nickel sulphide mineralisation in the southern wall of
Slide 18: Widgiemooltha Regional Exploration
Widgiemooltha Regional Exploration Multiple High Priority Targets to be followed up upon listing Database review and regional prospectivity assessment compiled by industry leading, Newexco Exploration Newexco report identified: • Numerous historical anomalies that remain untested • More than 40 walk
Slide 19: Metallurgy
Metallurgy Conventional flowsheet in a proven nickel district Conventional Testwork Flowsheet Over 40 years of successful Ni concentrate production from mines around the Widgiemooltha dome (Mt Edwards historical production 1,190,000 tonnes at 2.6% Ni processed at Kambalda concentrator) Further confi
Slide 20: Future Nickel Demand
Future Nickel Demand Right commodity, right jurisdiction, right time… Passenger EV Fleet Forecast1 Australia is a Globally Significant Nickel Producer 60 Australia currently accounts for ~7% of global nickel production1 and for ~21% 50 of known Reserves1 Other 40 EVs (millions) USA Tier 1 Jurisdicti
Slide 21: Environmental, Social and Governance
Environmental, Social and Governance 32 Widgie Nickel is determined to implement industry leading ESG standards Team Develop a positive culture that values clear communication, teamwork and respect Exploration, Development & Production Implement best practice environmental standards for all onsite d
Slide 22: Investment Summary
Investment Summary Focussed strategy to deliver Mt Edwards back into production Post listing Widgie Nickel will Upcoming news flow driven by clearly defined value drivers Aim to grow resource size and confidence in existing resources Continuous drilling for 2 years planned Explore to unveil more min
Slide 23: Widgie Nickel
Widgie Nickel Critical metals for a cleaner future www.widgienickel.com.au [email protected] +61 8 9322 1182 Level 1, 1292 Hay Street, West Perth 6005 WA
Slide 24: Appendices
~ NZ WIDGIE NICKEL Critical metals for a cleaner future Appendices WIDGIE NICKEL
Slide 25: Widgie South Trend
Widgie South Trend Widgie Townsite, Gillet and Widgie 3 comprises ~44% of the current Mt Edwards Mineral Resource Widgie South Trend includes the Widgie Townsite, Widgie 3 and Gillett deposits and the Gillett West, Rhona and Widgie 3 South prospects Located on Mining Lease M15/94 south of the commun
Slide 26: Widgie Townsite
Widgie Townsite 32 Largest unmined body of mineralisation identified - Adjacent conductors identified (Nth extent of Gillett potentially) 26
Slide 27: Widgie 3
Widgie 3 32 Remnant mineralisation below pit – open at depth and 280m east to Gillett Open in both directions and down dip 27
Slide 28: Gillett
Gillett 32 Unmined since discovery in 2006. Significant scope to expand along strike & down dip 28
Slide 29: Mt Edwards-26N
Mt Edwards-26N 32 Decline to ~500vm intact, unmined lower grade shoot accessible off decline 29
Slide 30: Geological Overview – Resources
Geological Overview – Resources 30
Slide 31: Mineral Resource Estimate
Mineral Resource Estimate 32 Mt Edwards Global Nickel Mineral Resource Compliance Statement Indicated Inferred Total Resources Widgie Nickel has prepared the presentation materials based on information available to it at the time of preparation. No representation or warranty, express or implied, is
Slide 32: Peer Comparison Data
Peer Comparison Data JORC Resource and financial data used in peer comparisons Total Resources Financial Data Ownership Tonnes Grade Contained Market Cap Cash Debt Enterprise Value Company / Asset Company / Asset (%) (kt) (% Ni) (t Ni) (A$M) 18 (A$M) (A$M) (A$M) Duketon Mining 8.3 1.1% 93.6 Duketon