WIN Metals Ltd · ASX:WIN
WIN Metals — Widgie Nickel — Shareholder Meeting (August 2021)
33 slides from WIN Metals's shareholder meeting presentation, Aug 18, 2021
Slide 1: Neometals EGM: Widgie Nickel Limited Presentation
18 August 2021 NEOMETALS EGM WIDGIE NICKEL LIMITED PRESENTATION For personal use only Please find appended the Widgie Nickel Limited Presentation which will be delivered at the Neometals Ltd EGM today. Authorised on behalf of Neometals by Christopher Reed, Managing Director ENDS For further informat
Slide 2: Corporate Presentation August 2021
For personal use only Corporate Presentation August 2021 Mt Edwards Headframe (c1976) www.widgienickel.com.au Picture: Jim Reeve
Slide 3: 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 4: Widgie Nickel Overview
For personal use only Widgie Nickel Overview 132N Deposit
Slide 5: Investment Highlights
Investment Highlights For personal use only 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
Slide 6: Corporate Rationale – Widgie Nickel
Corporate Rationale – Widgie Nickel Located in the established Kambalda District – dedicated management and funding to drive value For personal use only 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
Slide 7: Widgie Nickel – Proposed Capital Structure
Widgie Nickel – Proposed Capital Structure Widgie provides the 11 deposits the independent funding and management resources they deserve For personal use only Capital Structure Unit Shares pursuant to In-Specie Distribution – NMT Shareholders M 130.0 Shares offered under Underwritten Entitlement Iss
Slide 8: Widgie Nickel – Strategy
Widgie Nickel – Strategy Aiming to be production ready for end of 2023 For personal use only 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
Slide 9: Value Proposition – Widgie Nickel
Value Proposition – Widgie Nickel Tier one jurisdiction and infrastructure support focus on returning Mt Edwards to production For personal use only Widgie presents investors with a compelling opportunity to gain exposure to the clean energy future Ability to leverage off a large nickel sulphide res
Slide 10: 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 For personal use only 400 395 kt Ni 2,000 1,781 1,800 350 1,501 1,600 300 1,399 EV / Metal t (A$/t Contained Ni) 1,400 Contained Metal (kt Ni) 250 1,200 210 kt Ni 200
Slide 11: Proposed Use of Funds & Indicative Timing
Proposed Use of Funds & Indicative Timing 32 Preparing a multi-mine development plan for the upswing in clean energy metals For personal use only Use of Funds ($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 Infi
Slide 12: Board and Management
Board and Management 33 Experienced & dedicated team with relevant nickel exploration and production track record For personal use only Andrew Parker Steve Norregaard Felicity Repacholi-Muir Scott Perry Graeme Scott Non-Executive Chair Managing Director and CEO Non-Executive Director Non-Executive D
Slide 13: The Endowment
The Endowment Widgie provides the 11 deposits the independent funding and management resources they deserve For personal use only 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 Gill
Slide 14: Mt Edwards Regional History
Mt Edwards Regional History Historically produced 31,000 Nickel Tonnes across 4 mines from 1980 to 2008 For personal use only Prior to Neometals Acquisition First significant Nickel discovery was Mt Edwards (26N) by INAL (International Nickel Australia Ltd) in November 1967 Historical Nickel product
Slide 15: Widgie South- Base Load
Widgie South- Base Load Widgie Townsite, Gillett and Widgie 3 comprises ~44% of the current Mt Edwards Mineral Resource For personal use only 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 16: Higher Grade Satellite - Armstrong
Higher Grade Satellite - Armstrong Rapid development timeframe possible For personal use only 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
Slide 17: Higher Grade Satellite – Munda
Higher Grade Satellite – Munda Untouched nickel mineralisation- High Grade For personal use only 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
Slide 18: Higher Grade Satellite - 132N
Higher Grade Satellite - 132N Massive nickel in 132N pit wall For personal use only 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 i
Slide 19: Widgiemooltha Regional Exploration
Widgiemooltha Regional Exploration Multiple High Priority Targets to be followed up upon listing For personal use only Database review and regional prospectivity assessment compiled by industry leading, Newexco Exploration Newexco report identified: • Numerous historical anomalies that remain untest
Slide 20: Metallurgy
Metallurgy Conventional flowsheet in a proven nickel district Conventional Testwork Flowsheet For personal use only 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 conce
Slide 21: Future Nickel Demand
Future Nickel Demand Right commodity, right jurisdiction, right time… For personal use only 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)
Slide 22: Environmental, Social and Governance
Environmental, Social and Governance 32 Widgie Nickel is determined to implement industry leading ESG standards For personal use only Team Develop a positive culture that values clear communication, teamwork and respect Exploration, Development & Production Implement best practice environmental stan
Slide 23: Investment Summary
Investment Summary Focussed strategy to deliver Mt Edwards back into production For personal use only 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 Expl
Slide 24: Widgie Nickel
For personal use only 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 25: Appendices
For personal use only Appendices 24
Slide 26: Widgie South Trend
Widgie South Trend Widgie Townsite, Gillet and Widgie 3 comprises ~44% of the For personal use only 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/
Slide 27: Widgie Townsite
Widgie Townsite 32 Largest unmined body of mineralisation identified - Adjacent conductors identified (Nth extent of Gillett For personal use only potentially) 26
Slide 28: Widgie
Widgie 3 32 Remnant mineralisation below pit – open at depth and 280m east to Gillett For personal use only Open in both directions and down dip 27
Slide 29: Gillett
Gillett 32 Unmined since discovery in 2006. Significant scope to expand along strike & down dip For personal use only 28
Slide 30: Mt Edwards-26N
Mt Edwards-26N 32 Decline to ~500vm intact, unmined lower grade shoot accessible off decline For personal use only 29
Slide 31: Geological Overview – Resources
Geological Overview – Resources For personal use only 30
Slide 32: Mineral Resource Estimate
Mineral Resource Estimate 32 Mt Edwards Global Nickel Mineral Resource For personal use only 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, e
Slide 33: Peer Comparison Data
Peer Comparison Data JORC Resource and financial data used in peer comparisons For personal use only 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