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NEOMETALS LTD Investor Presentation 2019

Oct 14, 2019

65430_rns_2019-10-14_f029fb4b-ae94-4188-abab-9647db08db84.pdf

Investor Presentation

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Disclaimer
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Summary information: This document has been prepared by Neometals Ltd (“Neometals” or “the Company”) to provide summary information about the Company and its associated entities and their activities current as at the date of this document. The information contained in this document is of general background and does not purport to be complete. It should be read in conjunction with Neometals’ other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au.

Forward-looking information: This document contains ~~,~~ opinions, projections, forecasts and other statements which are inherently subject to significant uncertainties and contingencies. Many known and unknown factors could cause actual events or results to differ materially from the estimated or anticipated events or results included in this document. Recipients of this document are cautioned that forward-looking statements are not guarantees of future performance.

Any opinions, projections, forecasts and other forward-looking statements contained in this document do not constitute any commitments, representations or warranties by Neometals and its associated entities, directors, agents and employees, including any undertaking to update any such information. Except as required by law, and only to the extent so required, directors, agents and employees of Neometals shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatever nature arising in any way out of, or in connection with, the information contained in this document.

Financial data: All figures in this document are in Australian dollars (AUD) unless stated otherwise.

Not financial product advice: This document is for information purposes only and is not financial product or investment advice, nor a recommendation to acquire securities in Neometals. It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making any investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction.

Investment risk: An investment in securities in Neometals is subject to investment and other known and unknown risks, some of which are beyond the control of Neometals. The Company does not guarantee any particular rate of return or the performance of Neometals. Investors should have regard to the risk factors outlined in this document.

Compliance Statement:

The information in this document that relates to Mineral Resources or Exploration Results at the Mt Edwards Project has been extracted from ASX Releases set out below. The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Releases set out below:

19/4/2018
5/08/2019
9/10/2019		 Mt Edwards Nickel – Mineral Resource Estimate
Mt Edwards Nickel – Drill Results
Further Nickel Drill Results at Mt Edwards

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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Executive Summary
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Purpose – “Neometals innovatively develops opportunities in minerals and advanced materials essential for a sustainable future”

  • Project developer listed on ASX (ticker NMT)

  • Focus on mineral/materials for the EV and ESS sectors

  • Established in 2002, team of 20, Perth HQ and research laboratory in Montreal

  • Team with proven track record in project facilitation and development:

    • Developed Mt Marion into the world’s 2[nd] largest spodumene producer

    • Staged sell-down with total project returns to ~A$200M on outlay of A$3M

  • Returned A$45M to shareholders in last 4 consecutive financial years*

  • Cash of ~A$113.7M* plus ~A$8.9M in investments vs current mkt cap of A$108M

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* As at 30 June 2019
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What we do
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  • Neometals is pursuing multiple opportunities - strategy is clear

  • Story is not complicated, but approach is different:

  • We identify value – organic (Li refinery/battery recycling) and M&A (Mt Edwards)

  • We build value – with the drill bit/in laboratory then evaluation studies

  • We realise value – with partners to achieve optimum scale, risk and return

  • We return value – dividends and buy backs

  • First-class balance sheet to fund a pipeline of advanced projects (pilot/DFS stage)

  • Assembled a first-rate team with relevant industry experience to develop an ecosystem to deliver technical and economic solutions – pathways to cashflow

  • We align our project development activities with that of underlying markets

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Value Generation
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  • Core projects (final stages of evaluation):

  • Lithium-Ion Battery Recycling Project (Pilot-stage, 100% NMT);

  • Lithium Refinery Project (DFS Stage, MOU 50:50 JV); and

  • Barrambie Titanium and Vanadium Project (DFS, 100% NMT).

  • Exploration and long-term projects include:

  • Suite of mineral/material related technology developments; and

  • Mt Edwards Nickel and Lithium exploration project (WA).

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We have strong conviction in the long term
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lithium battery/EV/ESS thematic….
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  • 99 Megafactories – 2027 GWh

  • 2027 GWh could require 1.3 Million tonnes of Ni in 2028 at 100% Capacity

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Ni

  • Widgiemooltha Nickel – Back to the Future

  • • Lithium Refinery ProjectMt Edwards Project Neometals – 100% Nickel Mineral Rights

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Mt Edwards Nickel and Lithium Project
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  • Brownfields Ni and Li exploration project

  • Significant historic Ni production and current inventory. Indicated and Inferred Mineral Resource of 7.39Mt @ 1.7% Ni for ~ 123,000 t contained Ni*

  • Located 80km south of Kalgoorlie. Access to sealed roads, rail and energy infrastructure

  • Tenements cover area of 240km[2] across the highly prospective Widgiemooltha Dome

  • Identified high-grade nickel sulphides (4m at 6.3% Ni) in recent in-fill drilling

  • Exploration confirms the presence of multiple fertile lithium-caesium-tantalum pegmatites but Li exploration not high priority at present

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*See full information for Mt Edwards JORC Mineral Resource information on page 28

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Project Flythrough
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Mt Edwards Project History
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  • First significant Nickel discovery was the Mt Edwards (26N) by INAL ( International Nickel Australia Ltd ) in November 1967

  • Over the next 2 years eight separate nickel sulphide occurrences were identified in the area

  • Used airborne and ground EM and IP surveys, and soil sampling to make discovery

  • Back to the future. Pretty much the same methods still used today – just better systems ie DHEM

  • Historical production from 4 mines in the project area:

  • Mt Edwards 26N (WMC) - 951,568t @ 2.7% Ni, 25,633t Ni

  • Widgie 3 (WMC) - 82,661t @ 2.17% Ni, 1,792t Ni

  • 132N (WMC) – 32,174t @ 3.54% Ni, 1,138t Ni

  • Armstrong (CN) – 1,500t @ 1.8% Ni, 270t Ni

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*See full information for Mt Edwards JORC Mineral Resource information on page 28

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Mt Edwards Project History
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  • Divested by WMC, Consolidated Nickel acquired 2006

  • 2006 to 2008, 38 geologists working on Nickel exploration in the region.

  • All exploration stopped immediately in 2008 when the Nickel Price slashed (GFC).

  • Since 2008 little serious exploration undertaken.

  • During this time lots of knowledge lost

  • Neometals have made a concerted effort in last 12 months to re-establish a validated database (9,700+ drill holes, 36,000 soil samples).

  • Reviewing and re-estimating the Mineral Resources*

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*See full information for Mt Edwards JORC Mineral Resource information on page 28

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Mt Edwards (26N) Nickel Mine
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  • Mt Edwards (26N) was mined by WMC in 2 phases (1980 to 1986, and 1990 to 1994).

  • Produced 951,568 tonnes at 2.7% Nickel for 25,633 tonnes of nickel metal.

  • Mining ceased in due to Geotech issues with the decline, however Nickel remains (particularly at depth), and the shaft remains.

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  • Open at depth and has areas of very high Nickel Tenor

• Significant Intercepts 16m @ 3.90% Ni from 195m (MED8-819W1) 17m @ 4.14% Ni from 507.4m (MED8-810) 7m @ 4.49% Ni from 121.9m (MED19-7)

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*See full information for Mt Edwards JORC Mineral Resource information on page 28

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Max Ni Pierce Points – Eastern Dome Mines
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FY19 Exploration – Zabel & 132N Deposits
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  • Small, considered drill programs to confirm and increase confidence in the Mineral Resources, and identify high-grade mineralisation.

  • FY19 drilled the 132N, Zabel deposits

  • Recently Widgie 3 and Gillet, results pending

  • Significant intercepts*:

132N

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15.6 m @ 1.24% Ni from 269m

Zabel

11 metres @ 2.64% Ni from 108m including 4 metres @ 6.23% Ni 3 metres @ 2.0% Nickel from 88m includin 1 metre 5.1% Ni g @

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*Please refer to ASX announcement 5 August 2019 titled “Mt Edwards Nickel – Drill Results”

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SepQ19 Exploration – Munda Deposit
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  • Nickel Mineral rights to the Munda Project, M15/87

  • Located right in the middle of the tenement package.

  • Diamond Core drilling here (8.2m @ 2.5% including 2.3m @ 6.11 % Ni)*

  • Revised Nickel Mineral Resource pending

Munda tenement M15/87 location (top) and Recent drill hole locations (bottom)

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*Please refer to ASX announcement 10 October 2019 titled “Further Nickel Drill Results at Mt Edwards”

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SepQ19 Exploration – Munda Deposit
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Photo of diamond core from drill hole EMD002. Massive Nickel Sulphide (2.3m grading 6.11% Nickel) is clearly identifiable above a sharp contact with the underlying basalt*

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Max Nickel Pierce Points – Eastern Dome Resources
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Neometals Regional Exploration Strategy
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  • May 2019 engaged Newexco to assist in future discoveries

  • Many targets left untested (+50 historical targets)

  • Newexco have noted that previously many inferior geophysics techniques were used (DHEM - coil sensors not fluxgate / Squid)

  • Several targets generated from ground EM (Moving and Fixed loop) remain untested

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Summary of Ground Geophysics over Mt Edwards Project
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Targeting high-grade Ni within existing
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  • Initial findings of review of historic geophysics are:

  • Inferior DHEM coil sensors used, recommend resurvering with fluxgate/SQUID

  • Majority of historic TEM have been carried out using wrong frequency 5 Hz vs ideally1Hz (below)

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  • Fixed-Loop EM poor screening technique (conductors shaded red) poor correlation with recently drilled targets (in blue)

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Regional Exploration – Lake Eaton Prospect
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  • Neometals conducted exploration at Lake Eaton prospect Directly NW of Cassini

  • Anomalous nickel in ultramafic in MERC073

  • Geochemical analysis indicates classic Kambalda style komatiite channel

  • Encouraging sniffs including 1m at

  • 1.22% Nickel at 55 metres

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Please refer to ASX announcement 5 August 2019 titled “Mt Edwards Nickel – Drill Results”

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Regional Exploration – Lake Eaton Prospect
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  • Neometals conducted exploration at Lake Eaton prospect Directly NW of Cassini

  • Anomalous nickel in ultramafic unit in MERC073

  • Geochemical analysis indicates classic Kambalda style komatiite channel

  • Encouraging sniffs including 1m at 1.22% Nickel at 55 metres*

Cross section in line with MERC073 drill trace, mineralised intercepts include 1m at 1.22% Nickel at 55 metres downhole

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  • *Please refer to ASX announcement 5 August 2019 titled “Mt Edwards Nickel – Drill Results”

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Max Nickel Pierce Points – Western Dome Resources
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Company Highlights
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SECURITY

  • Strong balance sheet A$113.7* plus $8.9M investments, no debt

  • Strong board and management team, collectively the largest shareholders

  • History of de-risking development with strong operating and offtake partners

  • History of disciplined capital allocation, value realisation and sharing with shareholders

OPPORTUNITY

  • High impact nickel exploration ongoing in well endowed location

  • Advanced portfolio of minerals and materials required for a sustainable future

  • Innovative value-enhancement and risk-mitigating business models

  • Clear growth strategy – unique and proven approach

  • MCAP discrepancy – value crystallisation as already mature projects secure validation catalysts

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  • As at 30 June 2019

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Thank you

www.neometals.com.au

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Who we are
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NE Board Members

Management Team

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MD / CEO Company Secretary COO CDO GM – Lithium
/ CFO Projects
GM – Marketing GM – Commercial / GM – Process / GM – Metallurgy / GM – Exploration
IR Metallurgy R&D
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Corporate Overview
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ASX: NMT OTC:RDRUY ASX: NMT OTC:RDRUY
Shares on Issue1 m 544.44
Share Price (11-Oct-19) A$ 0.20
Market capitalisation (11-Oct-19) A$m 108.8
Cash (30-June-19) A$m 113.7
Debt (30-June-19) A$m -
Investments (30-June-19) A$m 8.9
Major Shareholders (31-Jul-2019)
David Reed (Non-Executive Director) 9.0%
Westoz Funds Management 2.9%
Global X Lithium ETF 2.0%
Top 20 33.7%
No of Shareholders ~8,000

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12 Month Share Price Performance
0.35 2,000
1,800
0.30 1,600
1,400
0.25 1,200
1,000
0.20 800
600
0.15 400
200
0.10 0
Oct-18 Feb-19 Jun-19 Oct-19
Price $A
Volume (‘000s)
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Note 1: Excludes 11.13m performance rights. Note 2: Loan receivables and investments Source: Neometals

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Mt Edwards Mineral Resource Estimate
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Classification Deposit Tonnes (kt) Nickel % Nickel (t)
Measured Armstrong 10 2.1 210
Measured Total 10 2.1 210
Indicated 132N 110 3.5 3,895
Armstrong 280 2.3 6,495
Widgie Townsite 2,190 1.9 40,720
Indicated Total 2,580 2.0 51,110
Inferred 132N 10 1.8 175
Armstrong 30 4.9 1,475
Cooke 150 1.3 1,950
McEwen 1,070 1.3 13,380
McEwen
Hangingwall		 1,060 1.4 14,840
Zabel 330 1.8 5,780
Mt Edwards (26N) 575 1.4 8,210
Widgie3 625 1.5 9,160
Gillet 955 1.8 17,050
Inferred Total 4,805 1.5 72,020
Grand Total 7,395 1.7 123,340

CompetentPersonAttribution

The information in this report that relates to Exploration Results is based on information compiled by Gregory Hudson, who is a member of the Australian Institute of Geoscientists. Gregory Hudson is an employee of Neometals Ltd .

The information in this Annual Statement for Mt Edwards that relates to Widgie Townsite, Widgie 3 and Gillet Mineral Resources is based on, and fairly represents, information and supporting documentation compiled and prepared by Mr Luke Marshall. Mr Marshall is a sole trader and independent contractor to Neometals Ltd.

The information in this Annual Statement for Mt Edwards that relates to the Mt Edwards Mineral Resources is based on, and fairly represents, information and supporting documentation compiled and prepared by Mr Andrew Bewsher. Mr Bewsher is an employee of BM Geological Services who provides consulting services to Neometals Ltd. Messrs Hudson, Marshall and Bewsher are Members of The Australasian Institute of Geoscientists have sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code.

NOTE : Figures may not sum due to rounding. Significant figures do not imply an added level of precision.

Refer announcement ASX:NMT 19 April 2018 titled: Mt Edwards JORC Code (2012 Edition) Mineral Resource 48,200 Nickel Tonnes Refer announcement ASX:NMT 25 June 2018 titled: Mt Edwards Project Mineral Resource Over 120,000 Nickel Tonnes

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