Metals One Plc · LSE:MET1
Metals One — Investor Presentation (July 2024)
19 slides from Metals One's investor presentation, July 2024
Slide 1: Technology Metals for a Green Future
Technology Metals for a Green Future Finland | Norway LON: MET1 JULY 2024
Slide 2: Disclaimer
Disclaimer These presentation slides have been prepared by and are the sole responsibility of Metals One plc (“Metals One” or “the Company”). The directors of the Company have taken all reasonable care to ensure that the facts stated herein are true to the best of their knowledge or belief. The info
Slide 3: Investing in Strategic Metals
Investing in Strategic Metals o EU needs to secure a sustainable supply of strategic raw materials including nickel, copper, cobalt o Legislation sets 2030 benchmarks for local supply, with favourable fast-tracking and financing available o European OEMs require traceable, local, low-carbon sources
Slide 4: Board
Board Non-Executive Chairman Chief Executive Officer Chief Financial Officer Alastair Clayton Jonathan Owen Daniel Maling o Geologist and Corporate Financier with 30-year track record o Fellow of the Geological Society, and Mining Engineer, with o Member of ICAEW and Fellow of the Chartered in UK, A
Slide 5: Key facts: IPO, market cap, resource, carry, PEA
IPO £3M $3Bn 31 July 2023 Market Cap In-Situ Metals 57Mt+ ~£8M 2024 Resource Investment PEA Ni-Cu-Co-Zn Carry 4
Slide 6: Black Schist Project, Finland
Black Schist Project, Finland Metals One drilling in Dec 2023
Slide 7: Black Schist Project, Finland: Building a scalable low-cost strategic metals producer
Black Schist Project, Finland Building a scalable low-cost strategic metals producer Projected strong economics: o Our exemplar Terrafame reported 30.7% EBITDA margin (Q1 2024) during challenging nickel market, reflecting low production costs of black schists o Addition of P5 Inferred Resource to ME
Slide 8: Black Schist Project, Finland: P5 block model
Black Schist Project, Finland P5 block model with conceptual open pit 7
Slide 9: Indicative roadmap to unlocking value
Black Schist Project, Finland Indicative roadmap to unlocking value Assaying Resource Drill Permitting † 2024 2025 2026-2027 2028 2029 PEA Pre-Feasibility Study Feasibility Study Construction Production 2024 2025 2026-2027 2028 ✓ Resource estimate update o Potential EU Strategic Project o Resource d
Slide 10: Undervalued compared to peers
Black Schist Project, Finland Undervalued compared to peers Nickel-Equivalent, Project Owner Market Cap (£M) Stage tons Tamarack, USA Talon Metals (TSX) 290,000 92.0 Explore->Discover Selebi, Botswana Premium Nickel (TSX) 290,000 70.0 Explore->Discover Shakespeare, Canada Magna Mining (TSX) 340,000
Slide 11: Terrafame, our exemplar next door
Black Schist Project, Finland o Founded in 2015, Terrafame* operates one of the world’s largest production lines for battery chemicals based in Finland Terrafame, our exemplar next door… o Capacity to supply nickel sulphate for c.1M EVs/yr, with one of the lowest carbon footprints o Full traceabilit
Slide 12: Norway – Råna Project
Norway – Råna Project Operator drilling in Oct 2023
Slide 13: Norway – Råna Project
Norway – Råna Project nickel • copper • cobalt Råna Intrusion – fully carried work programme* o Proven potential for massive sulphide Ni-Cu-Co mineralisation – disseminated and massive Ni-Cu sulphide mineralisation phases have been identified o Underexplored using modern methods, technology and depo
Slide 14: Norway – Råna Project Update
Norway – Råna Project Update o Partner/operator Kingsrose completed geophysical surveys at Rånbogen prospect in Aug 2023 • Identified highly conductive zones demonstrating potential for massive Ni-Cu-Co sulphide mineralisation o Drilled 12 holes for 4,318 metres, including discovery of massive sulph
Slide 15: Right Metals, Right Location, Right Time
Right Metals, Right Location, Right Time Clear short-term goal to deliver strategic metals resource of scale as precursor to project development Strategic metals Compelling Europe focus – Approx £8M of Experienced value linked to medium-to-long close to fast- multi-project management decarbonisation
Slide 16: Eccleston Yards, Eccleston Place, London
Eccleston Yards, 25 Eccleston Place, London SW1W 9NF [email protected] Beaumont Cornish (Nominated Adviser) Shard Capital (Broker) SI Capital (Broker) Capital Plus Partners (Broker) Vigo Consulting (IR) Follow us on social media linkedin.com/company/metals-one-plc @Metals_one_PLC
Slide 17: JORC Mineral Resource Estimate
Black Schist Project, Finland JORC Mineral Resource Estimate* Tonnes Ni Cu Co Zn Ni Cu Co Zn Mt % % % % kt kt kt kt R1 Inferred 28.1 0.19 0.10 0.01 0.38 53.8 27.9 3.4 180.0 Resource P5 Inferred 29.0 0.18 0.08 0.01 0.33 52.0 24.0 3.5 96.0 Resource TOTAL 57.1 0.18 0.09 0.01 0.35 105.8 51.9 6.9 276.0 *
Slide 18: Finland Farm-In Update
Finland Farm-In Update o Metals One has terminated the farm-in agreement* with Gunsynd Plc (AIM: GUN) after raising £0.9M in May 2024 o Metals One is Operator, currently with 93.75% o As part of the termination agreement: ▪ Metals One has been granted a 3-year option to re-acquire the 6.25% currentl
Slide 19: Norway Farm-In Terms
Norway Farm-In Terms o Up to A$15m of carried JV expenditure over 8 years Completion Milestone o Farm-out agreement between Kingsrose Mining (ASX: KRM) and Råna project-holder Scandinavian Resource Holdings (SRH) Stage 1 (for Incorporation of JV Company with issued (wholly owned subsidiary of Metals