First Tin Plc · LSE:1SN
First Tin — Investor Presentation (November 2021)
28 slides from First Tin's investor presentation, November 2021
Slide 1: Green Tin - Sustainable Tin for a Renewable Future
GREEN TIN - SUSTAINABLE TIN FOR A RENEWABLE FUTURE Sustainable tin production from new mines in Germany and Australia into Europe’s supply chain COMPANY PRESENTATION NOVEMBER 2021
Slide 2: The World Desperately Needs Sustainable Sources of Tin
THE WORLD DESPERATELY NEEDS SUSTAINABLE SOURCES OF TIN • 97% of global tin supply is from emerging / developing economies • 40% from artisanal and small-scale miners* First Tin plans to establish sustainable tin production and processing from the Tellerhäuser Project in Saxony, Germany and Taronga P
Slide 3: Tin - A Critical Raw Material for the Fourth Industrial Revolution
TIN - A CRITICAL RAW MATERIAL FOR THE FOURTH INDUSTRIAL REVOLUTION – DECARBONISE AND ELECTRIFY Metals most impacted by new technology Tin Lithium AUTONOMOUS & EV’s ADVANCED ROBOTICS RENEWABLE ENERGY ADVANCED COMPUTING & IT Hydrogen generation New Tin use in Solar Cobalt and Fuel cells Photovoltaics
Slide 4: Sustained Tin Market Deficit
SUSTAINED TIN MARKET DEFICIT DEMAND TO EXCEED 400,000 TPA BY 2025* Tin inventory at critically low levels – days of global consumption in LME and SHFE warehouses* 2.5 days (2500t) Global semiconductor shortage a potentially explosive tin 2Y tin spot price (USD/t) price driver. Tin consumed in semico
Slide 5: Tin Equities Have Doubled in the Past Year
TIN EQUITIES HAVE DOUBLED IN THE PAST YEAR 440% Tin price growth outperforming other commodities AfriTin Mining Limited (AIM:ATM) - Share Pricing Alphamin Resources Corp. (TSXV:AFM) - Share Pricing 340% Metals X Limited (ASX:MLX) - Share Pricing Stellar Resources Limited (ASX:SRZ) - Share Pricing 24
Slide 6: Strong Board and Management Team
STRONG BOARD AND MANAGEMENT TEAM PROVEN RECORD OF DELIVERING EXCEPTIONAL RETURNS TO SHAREHOLDERS CHARLES CANNON-BROOKES THOMAS BUENGER Non-Executive Chairman Chief Executive Officer Mr. Cannon Brookes has over 20 years investment experience. He is a PhD in metallurgy from Freiberg University with mo
Slide 7: First Tin: Globally Significant Tin Projects
FIRST TIN: GLOBALLY SIGNIFICANT TIN PROJECTS First Tin has consolidated three significant assets to create one of the LARGEST UNDEVELOPED TIN PORTFOLIOS GLOBALLY Project Mt Tin % Tin tonnes First Tin total resource >273,000 t Sn TELLERHÄUSER 22.1 0.47 103,400 TARONGA 36.3 0.16 57,200 GOTTESBERG 42.1
Slide 8: Saxony the Mining Capital of Germany
SAXONY THE MINING CAPITAL OF GERMANY • Local Erzgebirge area has 850 years of mining history, including the world’s oldest School of Mines • Currently active mining in the district (marble and fluorite) • EU and German support (FAME project providing EU funding, German research projects funding) • E
Slide 9: Tellerhäuser: One of the World's Most Advanced Tin Deposits
TELLERHÄUSER IS ONE OF THE WORLDS MOST ADVANCED TIN DEPOSITS WITH SUPERB INFRASTRUCTURE Tellerhäuser resource 22.1Mt @ 0.47% Sn Proposed Development Option - Tellerhäuser Looking NW Contained tin* 103,400 t Sn Tunnels and other development 150,000 m 2x internal Shafts 1x adit 400 m 7.8 km Inheriting
Slide 10: Tellerhäuser the Zero Waste Mine
TELLERHÄUSER THE ZERO WASTE MINE* • Processing and waste to be located in underground voids • 3km to Markersbach Pumped Storage Power Plant • NPV of US$208.6m and IRR of 48%1 • Nameplate capacity, 500,000 tpa mine to produce: ‒ 6,500 tpa 50% Sn concentrates 13,000 tpa 45% Zn concentrates Markersbach
Slide 11: Taronga 5th Largest Undeveloped Tin Reserve Globally
TARONGA 5TH LARGEST WORLD CLASS UNDEVELOPED TIN RESERVE GLOBALLY UPSIDE Taronga resource 36.3Mt @ 0.16% Sn Contained tin (excluding Cu and Ag credits)* 57,200 t Sn Pre-Feasibility Study NPV at US$30,000/t tin* US$198 m Permitted for stage 1 mine and pilot plant Development ready Drilling completed t
Slide 12: Taronga Project, Australia: Advanced Project with Significant Upside
TARONGA PROJECT, AUSTRALIA ADVANCED PROJECT WITH SIGNIFICANT UPSIDE • Fifth largest undeveloped tin reserve globally • Open pit resource, Taronga contains: ‒ 57,000t contained tin ‒ 26,000t contained copper ‒ 4.4Moz silver • Pre-Feasibility delivered an NPV of US$198M and IRR of 75.2% • Permitted fo
Slide 13: Taronga Geology and Resources
GEOLOGY AND RESOURCES TARONGA Located in Northern NSW Taronga JORC Resource Estimate 2012 – Tin only Category Mt Assay (%Sn) Contained Metal (tonnes) Indicated 26.9 0.17 45,200 Inferred 9.4 0.13 12,000 Total 36.3 0.16 57,200 Exploration adit by previous owner Newmont Taronga quartz-cassiterite veins
Slide 14: First Tin Optimisation and Advancement Plans for 2022
FIRST TIN OPTIMISATION AND ADVANCEMENT PLANS FOR 2022 First Tin current total resource >273,000 t Sn plus by-products copper, zinc, silver, indium GERMANY AUSTRALIA • Exploration drilling Auersberg • Exploration drilling at Taronga • Definition drilling at Tellerhäuser • Metallurgical work • Metallu
Slide 15: First Tin 5-Year Outlook
FIRST TIN 5-YEAR OUTLOOK Tellerhäuser Ramp up Taronga production Detail design, EIA submission Taronga further Final permitting DTM, construction exploration Fast track Exploration – development First production The Tin • Tellerhäuser: Downstream Metallurgy Permit Fund Triangle Tellerhäuser Follow t
Slide 16: Compelling Valuation vs Global Tin Peers
COMPELLING VALUATION VS GLOBAL TIN PEERS EV/t tin £5,050.00 Producers £4,050.00 Developers £3,050.00 EV/t tin £2,050.00 £1,050.00 £50.00 Alphamin Metals X Minsur Cornish Metals Afritin PLC First Tin Stellar Resources Company Germany/ Location DRC Australia Peru UK Nambia Australia Australia *As at 1
Slide 17: Investment Highlights
INVESTMENT HIGHLIGHTS Set against a structurally bullish tin market outlook, First Tin provides investors seeking exposure to tin with sustainable supply outside the emerging economies. 1 2 3 High margin Near term, Structural advantages: development sustainable local expertise, capital, assets in lo
Slide 18: Indicative Capital Structure
INDICATIVE CAPITAL STRUCTURE Shares on Issue: Main Shareholders Percentage 198.8 million AusTin 30% fully diluted Baker Steel 18% Cash Management 7% £2 M Arlington 7% Pro-forma market capitalisation HNWI 6% £60 M Sparta 5% FIRST TIN | Corporate Presentation - November 2021 Slide 18
Slide 19: Appendices
APPENDICES fe) FIRST TIN
Slide 20: Geology and Resources
GEOLOGY AND RESOURCES TELLERHÄUSER GOTTESBERG Hydrothermal Tin overprinting Skarn mineralisation 28 km West of Tellerhäuser Tellerhäuser: JORC Resource Estimate 2019 – Tin only Gottesberg: JORC Resource Estimate 2012 Category Mt Tin % Tin tonnes Category Mt Tin % Tin tonnes Indicated 6.9 0.48 33,000
Slide 21: Compelling Valuation
COMPELLING VALUATION Global Tin Comps Showing Market Capitalisation per tonne Company £ Mkt Cap (M) Tin R+R (t) EV/t tin Comment PRODUCERS Afritin PLC £56 95,539 £586 And tantalum and lithium Alphamin £890 178,458 £4,987 Congo DRC Metals X £248 120,300 £2,061 Renison Ore Reserve Minsur £453 281,000
Slide 22: International Tin Association Top Undeveloped Tin Deposits
INTERNATIONAL TIN ASSOCIATION TOP UNDEVELOPED TIN DEPOSITS Undeveloped RESOURCES Undeveloped RESERVES Top 15 Undeveloped CRIRSCO - compliant tin resources by tin content Top 6 Undeveloped CRIRSCO - compliant tin reserves by tin content Deposit Country Company Ore (Mt) % Sn Sn (kt) Deposit Country Co
Slide 23: Tin Use in New Technology
TIN USE IN NEW TECHNOLOGY ESSENTIAL TO DECARBONISE AND ELECTRIFY Electric vehicles, Solar PV installations and the development of 5G will accelerate demand for tin Conservative forecasts predict EV sales to represent 50% of new car sales by 2030 5x increase in electronic components in EV vs ICE 5G i
Slide 24: Global Tin Supply Shortage
GLOBAL TIN SUPPLY SHORTAGE THE PERFECT STORM FOR TIN Global tin supply-demand balance Source: ITA, SHFE, LME, Macquarie Strategy, Jun 2021 VERY CONSTRAINED SUPPLY Years of deficit • Record low tin warehouse stocks – tin supply at critically low levels LACK OF ADDITIONAL PRODUCTION Cumulative Tin sto
Slide 25: Tin Is a Critical Raw Material for the Fourth Industrial Revolution
TIN IS A CRITICAL RAW MATERIAL FOR THE FOURTH INDUSTRIAL REVOLUTION – DECARBONISE AND ELECTRIFY The EU aims to be climate-neutral by 2050 – an economy with net-zero greenhouse gas emissions… The EU can lead the way by investing into realistic technological solutions • 97% of the worlds tin productio
Slide 26: World Tin Deposits - Very Few Substantial Deposits in Tier One Jurisdictions
WORLD TIN DEPOSITS – VERY FEW SUBSTANTIAL DEPOSITS IN TIER ONE JURISDICTIONS TELLERHÄUSER GOTTESBERG TARONGA FIRST TIN | Corporate Presentation - November 2021 Slide 26
Slide 27: Contact
CONTACT THOMAS BÜNGER Chief Executive Officer [email protected]
Slide 28: Legal Disclaimer
LEGAL DISCLAIMER This document (“Presentation”) has been prepared by First Tin Limited, a private limited company incorporated and registered in England and Wales Australian Disclosure under company number 07931518 (to be re-registered as a public limited company) (“Company”) in connection with a pr