ANC20-Proceedings-Presentations-Full

Infrastructure works gaining momentum




























































21

MREP unlocks value






Potential Heap Leach Projects













FLYING FOX LG SCATS NEW MORNING




CB MILL FEED “HIGH As”
Product Flexibility

INCREASED
PREGNANT NI SULPHATE SOLUTION POND PAYABILITY


Ni Sulphate Ni Sulphide
‘crude’ 45-50% Ni








LEACH TANKS Max 1,400 tpa Ni
PRECIPITATION PLANT 4,000 tpa Ni

Blended with
flotation
CYCLONES concentrate



22

Exploration - key tenement holdings




























































23

Cosmos nickel exploration






> 9km of prospective host rocks




























▪ Centred within the prolific Leinster – Wiluna Nickel corridor


▪ Additional accumulations of nickel sulphide identified within the

Neptune and Penelope prospects

▪ Adjacent to good infrastructure and developing Odysseus mine












24

Western Gawler project (South Australia)







▪ Exploring within the highly prospective (Ni – Cu)
Fowler Domain, with geological setting similar to
districts hosting Nova-Bollinger and Nebo-Babel.





▪ Significant accumulations (over 250m) of nickel
and copper bearing sulphides intersected within
first diamond drill hole at the Sahara prospect.





▪ An additional three tenements (2378km²) under
application, with the company now able to

explore across 11,898km² of contiguous Fowler
Domain tenure.




▪ Numerous interpreted intrusives to be tested

through FY21 including prospective targets at
Sahara, Firefly, Splendour, Meredith and Mystic.











25

Western Gawler project (South Australia)






SAHARA EARLY RESULTS

▪ Over 250m (downhole length) of nickel and copper-bearing sulphides
intersected within maiden diamond drillhole 20WGDD005.

▪ Broad intervals of elevated nickel sulphide mineralisation returned
including
✓ 104.42m @ 0.21% Ni, 0.12% Cu including 33.97m @ 0.29% Ni,

0.17% Cu

▪ Elevated nickel assays within semi-massive to massive sulphide
accumulations including
✓ 0.24% Ni @ 1.24% Ni and

✓ 0.10m @ 1.38% Ni

▪ Regional-scale high-power Fixed Loop EM survey to commence at
Sahara in August, testing the system 2km along strike and at depth.















Massive sulphide intersected in 20WGDD0005
(340.4 – 340.5m) grading 1.38% Ni




26

Metal Hawk JV







▪ Western Areas has entered into a strategic partnership with
Metal Hawk Ltd on highly prospective base metals tenure
within both the Eastern Goldfields and Albany - Fraser

▪ Kanowna East (earning in to all non-gold rights)

✓ 10km south of high-tenor Silver Swan complex

▪ Emu Lake (earning in to all non-gold rights)

✓ Along strike from Binti Binti Nickel prospect

▪ Fraser South (earning in to all mineral rights)
✓ Southern, underexplored structural continuation of

Albany-Fraser



▪ Stage 1: $3m over 3 years for 51%




▪ Stage 2: $4m over 2 years for total 75%
















27

OPERATIONS






















































28

Flying Fox mine








Reserve 0.40Mt @ 3.0%
Contained nickel 12,020 Ni tonnes


Resource 1.18Mt @ 3.8%
Contained nickel 45,307 Ni tonnes

Mine life (on reserves) 2 years




Key points:

▪ FY20 production – 10.1k Ni tonnes



▪ Has been operating for over 15 years




▪ Significant low grade disseminated resource



















29

Spotted Quoll mine








Reserve 1.20Mt @ 4.0%
Contained nickel 49,600 Ni tonnes

Resource 1.09Mt @ 6.0%

Contained nickel 65,231 Ni tonnes

Mine life (on reserves) 5 years



Key points:


▪ FY20 production – 13.3k Ni tonnes



▪ Production has outperformed reserve tonnes and
grade consistently



▪ Top down mining with paste fill




▪ Resource extension drilling on going – nickel
tonnes being added to Resource










30

Cosmic Boy nickel plant







Concentrator Summary

▪ 12% above name plate capacity of 550,000 tpa

▪ Concentrate grades of between 15.0% to 16.0% Ni


✓ Premium blending product (Fe/Mg ratio >15:1)

✓ Desirable to smelters


MREP Summary

▪ Enhances average concentrator nickel recovery and
generates value from waste tailings streams


▪ Produces additional higher-grade product (45%-50%
Ni), being sold to new, EV battery linked customers –

mainly refineries

▪ Current contract with Sumitomo Metals & Mining.
Combined with several spot sales to other refineries















31

www.westernareas.com.au

ASX:WSA


PO Box 1891 West Perth 6872
+61 8 9334 7777

IGO Limited




Australian Nickel Conference



Peter Bradford – Managing Director & CEO

Tesla Scorecard



“Best car I have ever driven (yet)!”













Cheap as chips to operate










Insane performance











Ever evolving technology











More to come – Tesla self drive










2

EV demand has implications for metals



Nickel facing strong demand pull from EV sector








Tesla’s focus on nickel is clear Class 1 Nickel Supply and Demand Outlook 2


kt
“Technically, our cells should be called nickel-graphite, because 2,500

the primary constituent in the cell as a whole is nickel.”



2,000
“Tesla will give you a giant contract for a long period of time, if
you mine nickel efficiently and in an environmentally sensitive

way.”
1,500

Elon Musk – Tesla CEO


1,000






Tesla Cathode Cost Breakdown 1 500



35% 25% 5% 35%
-
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Nickel Lithium Cobalt Processing EV demand Stationary storage demand
Consumer electronics demand Non-battery demand
Flexible non-battery demand Production capacity



1) Source: Tesla Battery Day Presentation 2020
2) Source: BloombergNEF 3

1) Source: India Gate, New Delhi, India, Intelligent Living

Making A Difference



Focused on high margin, high quality assets producing metals critical to clean energy














Globally Relevant Vertically Integrated

supplier of metals that are critical to energy to produce battery grade chemicals and

storage and renewable energy cathode precursors










Quality Products Proactively Green

desired by end users made safely, ethically, using renewables, energy storage and EV

sustainably and reliably mining equipment to reduce carbon footprint









Delivered by people who are bold, passionate, fearless and fun –
a smarter, kinder, more innovative team










5

Our Portfolio



Aligned to clean energy metals, focused on nickel and copper















Ni ✓ Critical for lithium ion batteries
✓ Increasing nickel intensity in LiBs




✓ Established stainless steel demand
Nickel ✓ Underinvestment in new supply














Cu ✓ Critical for reticulation of electricity



✓ Key component in electric motors
✓ Underinvestment in new capacity
Copper












6

Nova Operation


















7

Nova



FY20 production exceeded guidance, costs within guidance








FY20 Results






Nickel Production 1

30,436t










Copper Production 1


13,772t










Cash Costs


A$2.41/lb Ni (payable)









1) Nickel and Copper production figures are reported on an in-concentrate basis
8

Nova



Track record of operational delivery









Quarterly Production & Cash Costs


Tonnes Cash Cost
9,000 $4.50


8,000 $4.00


7,000 $3.50


6,000 $3.00

5,000 $2.50


4,000 $2.00


3,000 $1.50

2,000 $1.00


1,000 $0.50


- $0.00




Nickel in concentrate production
Copper in concentrate production
Cash Costs (A$/payable lb Ni)


9

Nova



Outstanding financial results since commercial production










Nova Financial Results

EBITDA Margin
A$M
56% 600

593


500
504


Free Cash Flow Margin 400


46% 300 349 351 321




256 251
200
196

Total Free Cash Flow 100

93
A$665M

0
FY18 FY19 FY20
Revenue and other income Underlying EBITDA

Underlying Free Cash Flow



10

Nova



Operationally de-risked – mine is fully developed and grade control drilled






























































1) Refer: Annual Update of Exploration Results, Mineral Resources and Ore Reserves released to ASX on 30 January 2020
11

Nova



Optimisation programs to improve safety, productivity and cost













Safety and wellbeing of our people is our

priority











Smart Solutions leveraging the latest

technologies











Enduring focus on maximising

metallurgical recoveries













12

Exploration



Enduring commitment to discovering the mines of the future































































13

Fraser Range Exploration



Significant opportunity to unlock value through discovery































































14

Fraser Range Exploration



Nova near-mine








Utilising the latest technology to explore

under deep cover







Multiple magmatic intrusions identified over
the Nova Mining Lease







Drill core from Nova mine lease targets showing polyphase magmatic
sulphides within mafic intrusions




























15

Pipeline of Nickel Opportunities



Kimberley and Raptor Projects







Kimberley Project (WA) Raptor Project (NT)














































Both projects are highly prospective for Nova-like, nickel sulphide discoveries






16

Opportunities for Our People



IGO’s enduring commitment to graduate and professional development













2020 Graduate Program


12 participants

9 disciplines


















Highly engaged team with strong

alignment to IGO values


















17

Tropicana


















18

Tropicana



Strong operational performance from a Tier-1 gold asset








FY20 Results Boston Shaker Underground now operational







Gold Sold (IGO 30%)
141,169oz











All In Sustaining Cost (AISC)

A$1,171/oz










FY20 EBITDA Margin Margin

60%











19

Tropicana



Strategic Review underway focused on delivering value for all shareholders














Motivated by conviction that

Tropicana is not fully valued

in IGO portfolio
















Initial phase focused on

technical review to inform

strategy and decision making

















20

Concluding Comments



Focused on building a clean energy metals business

























Growth strategy Tropicana Strategic
Nova continues to

generate outstanding focused on exploration Review under way to
and disciplined,
unlock value for all
free cash flow
accretive M&A shareholders


























21



Cautionary Statements & Disclaimer









• This presentation has been prepared by IGO Limited (“IGO”) (ABN 46 092 786 304). It should not be considered as an offer or invitation to subscribe for or purchase any securities in IGO or
as an inducement to make an offer or invitation with respect to those securities in any jurisdiction.
• This presentation contains general summary information about IGO. The information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with
IGO’s other periodic and continuous disclosure announcements lodged with the ASX, which are available on the IGO website. No representation or warranty, express or implied, is made in
relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in this presentation.
• This presentation includes forward looking information regarding future events, conditions, circumstances and the future financial performance of IGO. Often, but not always, forward looking
statements can be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue" and "guidance", or other similar words and
may include statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Such forecasts, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are beyond IGO’s control, which may cause
actual results and developments to differ materially from those expressed or implied. Further details of these risks are set out below. All references to future production and production
guidance made in relation to IGO are subject to the completion of all necessary feasibility studies, permit applications and approvals, construction, financing arrangements and access to the
necessary infrastructure. Where such a reference is made, it should be read subject to this paragraph and in conjunction with further information about the Mineral Resources and Ore
Reserves, as well as any Competent Persons' Statements included in periodic and continuous disclosure announcements lodged with the ASX. Forward looking statements in this
presentation only apply at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information IGO does not
undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is
based.
• There are a number of risks specific to IGO and of a general nature which may affect the future operating and financial performance of IGO and the value of an investment in IGO including
and not limited to economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of environmental approvals, regulatory risks,
operational risks, reliance on key personnel, reserve and resource estimations, native title and title risks, foreign currency fluctuations and mining development, construction and
commissioning risk. The production guidance in this presentation is subject to risks specific to IGO and of a general nature which may affect the future operating and financial performance of
IGO.
• All currency amounts in Australian Dollars unless otherwise noted.
• Quarterly Financial Results are unaudited.
• Net Debt is outstanding debt less cash balances and Net Cash is cash balance less outstanding debt.

• Cash Costs are reported inclusive of Royalties and after by-product credits on per unit of payable metal basis, unless otherwise stated.
• IGO reports All-in Sustaining Costs (AISC) per ounce of gold for its 30% interest in the Tropicana Gold Mine using the World Gold Council guidelines for AISC. The World Gold Council
guidelines publication was released via press release on 27 June 2013 and is available from the World Gold Council’s website.

• Underlying EBITDA is a non-IFRS measure and comprises net profit or loss after tax, adjusted to exclude tax expense, finance costs, interest income, asset impairments, gain/loss on sale of
subsidiary, redundancy and restructuring costs, depreciation and amortisation, and once-off transaction costs.

• Free Cash Flow comprises Net Cash Flow from Operating Activities and Net Cash Flow from Investing Activities. Underlying adjustments exclude acquisition costs, proceeds from investment
sales and payments for investments and mineral interests.


32

Competent Person’s Statements









• Any references to IGO Mineral Resource and Ore Reserve estimates should be read in conjunction with IGO’s Annual Update of Exploration Results, Mineral Resources and Ore Reserves
dated 30 January 2020 (Annual Statement) and lodged with the ASX for which Competent Person’s consents were obtained, which is also available on the IGO website.
• The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements released 30 January 2020 and,
(i) in the case of estimates or Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement
continue to apply and have not materially changed, (ii) the Competent Person’s consents remain in place for subsequent releases by the Company of the same information in the same form
and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent, and (iii) the form and context in which the Competent Person’s findings are
presented have not been materially modified from the original ASX announcement.















































24

12 Months On: Funded, Permitted, Approved & Ready To Go



October 2020 | David Southam, Managing Director

Important Notice Disclaimer




This presentation (Presentation) has been prepared by Mincor Resources NL (MCR) and is authorised by the Board of Directors of MCR.

By retaining this Presentation, you (the Recipient) acknowledge and represent to MCR that you have read, understood and accept the terms of this Important Notice. If you do not accept these terms, you should immediately destroy
or delete this Presentation. This Presentation does not purport to contain all the information that a prospective investor may require in connection with any potential investment in MCR or its underlying business. Each Recipient must
make its own independent assessment of MCR before acquiring any securities in MCR (Securities). You should not treat the contents of this Presentation, or any information provided in connection with it, as financial advice, financial
product advice or advice relating to legal, taxation or investment matters. Before acquiring any Securities, you should consult your own advisers and conduct your own investigation and analysis in relation to MCR.
No representation or warranty is made by MCR or any of its advisers, agents or employees as to the accuracy, completeness or reasonableness of the information in this Presentation or provided in connection with it. No information
contained in this Presentation or any other written or oral communication in connection with it is, or shall be relied upon as, a promise or representation and no representation or warranty is made as to the accuracy or attainability of
any estimates, forecasts or projections set out in this Presentation. No liability will attach to MCR or its advisers with respect to any such information, estimates, forecasts or projections.
MCR does not accept responsibility or liability for any loss or damage suffered or incurred by you or any other person or entity however caused (including, without limitation, negligence) relating in any way to this Presentation
including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused (including without limitation, where caused by third parties), lack of accuracy, completeness,
currency or reliability or you, or any other person or entity, placing any reliance on this Presentation, its accuracy, completeness, currency or reliability.

MCR does not accept any responsibility to inform you or any matter arising or coming to MCR's notice after the date of this Presentation which may affect any matter referred to in this Presentation. Any liability of MCR, its advisers,
agents and employees to you or to any other person or entity arising out of this Presentation including pursuant to the Australian Securities and Investments Commission Act 2001, Corporations Act 2001 and the Competition and
Consumer Act 2010 or any other applicable law is, to the maximum extent permitted by law, expressly disclaimed and excluded.
The distribution of this Presentation may be restricted by law in certain jurisdictions. Recipients, and any other persons who come into possession of this Presentation must inform themselves about, and observe any such restrictions.

Future Matters
This Presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of MCR. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based
on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of MCR may be influenced by a number of factors, many of which are
outside the control of MCR. No representation or warranty, express or implied, is made by MCR or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or
partially or that any particular rate of return will be achieved.

Given the risks and uncertainties that may cause MCR's actual future results, performance or achievements to be materially different from those expected, planned or intended, Recipients should not place undue reliance on these
intentions, expectations, future plans, strategy and prospects. MCR does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.

Monetary values: Unless otherwise stated, all dollar values are in Australian dollars (A$).

For further details, please contact: Media Inquiries: Registered Address:
David Southam Nicholas Read Ground Floor, 9 Havelock Street
Managing Director Read Corporate West Perth
Mincor Resources NL Tel: +61 8 9388 1474 WA 6005
Email: [email protected]
Tel: +61 8 9476 7200

2

Company Overview







Mincor – ASX Code: MCR as at 1 October 2020 Financial Information

Shares on issue ~431.3m
$0.95
$0.90
$0.85
$0.80
$0.75 Share price (1 October 2020) A$0.85
$0.70
MCR Share Price $ $0.60 Market cap (1 October 2020) ~$366.6m
$0.65
$0.55
$0.50
$0.45
$0.40
$0.35
$0.30 Cash at 30 September 2020 ~A$101.0m
Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20

Nickel Mineral Resources and Ore Reserves as at 30 June 2020


MEASURED INDICATED INFERRED TOTAL
MINERAL
RESOURCES Tonnes Ni (%) Tonnes Ni (%) Tonnes Ni (%) Tonnes Ni (%) Ni tonnes


Total 256,000 3.7 4,420,000 3.8 708,000 3.9 5,203,000 3.8 196,100


PROVED PROBABLE TOTAL
ORE RESERVES
Tonnes Ni (%) Tonnes Ni (%) Tonnes Ni (%) Ni tonnes


Total 19,000 2.9 2,445,000 2.9 2,465,000 2.9 71,100



* For Mincor’s Mineral Resources and Ore Reserves see the appendix for more details, and the latest ASX announcements on 25 June 2020 and 17 August 2020

3

The Mincor Strategy




Focused on high grade nickel sulphide development and production












MINCOR RESO URCES NL – www. mincor. com.au

Overview – Key Ingredients to Restart Nickel Production




The right commodity at the right time






















The right team to High-grade Resource

deliver, strong base in a Tier-1 location
balance sheet
















Proven exploration Tier-1 off-take partner,

upside, emerging committed to nickel
high-grade discovery DFS completed, low
capital intensity


5

Strategy Snapshot – Keeping it Simple










Upgraded
* Cassini North Cassini
discovery hole – Resource

September 2020
Complete
Continue to Long drilling

drill portfolio & Resource
update
Nickel

Restart

Strategy


Off-take Complete
Completed DFS Q1, CY

BHP 2020



Finalise

Funding







* See ASX Announcement dated 9 September 2020

6

2019 Nickel Conference – Key Points









Just 12 months ago, this was our status when we

presented at the Nickel Conference…




nd
1. Cassini Main – 2 Mineral Resource upgrade announced
2. Cassini North exploration potential emerging


3. Work underway on an integrated restart schedule

4. “Nickel Nirvana” – space between Long and Durkin


5. Cash at Bank – $23.9m


6. Key Government Approvals in process

7. Bortana EV being tested for underground





















7

1. Cassini 12 Months On…….







Cassini Project*

● Mineral Resource: 1.5Mt @ 4.0% Ni for 58.7kt of nickel (4 upgrades in total)*

Ore Reserves: 1.212Mt @ 3.3% Ni for 40.1kt of nickel (maiden and 1 upgrade)*
●

● Total discovery cost around US$0.05/lb of nickel
nd
● Intersections announced in 2 half 2019**:
MDD329W2: 7.3m @ 6.4% Ni,
o
MDD323W2: 15.4m @ 4.7% Ni
o
MDD334: 12.3m @ 5.1% Ni
o
MDD334W1: 8.1m @ 5.7% Ni
o

● 2020 announcements:
MDD339: 17.6m @ 5.0% Ni
o
MDD339W4: 3.5m @ 7.6% Ni
o
Further resource expansion drilling likely from underground locations,
● Cassini 3D image of basalt contact and Resource shapes in red
consistent with the history of growing Kambalda deposits











*For Mincor’s Mineral Resources and Ore Reserves upgrade see the appendix for more details, and the latest ASX announcement on dated 25 June 2020
**For the drilling results referenced above, refer to Mincor’s ASX announcements of 6 September, 25 September, 18 October, 30 October 2019 and 6 January ,18 March 2020 and 17 August 2020



8

1. Cassini Future – Where can Cassini Main go?





History of long-life assets in the Kambalda district which exceeded initial mine life projections



Kambalda District Nickel Deposits – Starting Inventory vs. Historical Production (Nickel Grade vs Contained Nickel)



5.5
Chart Legend
Lunnon
5.0 Mincor’s Cassini Mineral Resource

Starting mining inventory at deposit
4.5 Historical production from deposit


Graph depicts how selected
Cassini
Cassini
4.0 Miitel (Nov 19) (Jun 20) ?? Long Kambalda deposits have
(under IGO
Nickel ownership) grown over time from initial
Grade Long Otter / Juan mining inventory to overall
(Approx.
(%) 3.5 Cassini 317kt Ni)
(Aug 18) historical production from
the deposit
3.0 Miitel Cassini ranks amongst the
Otter starting Mariners Mariners Lunnon
mining (Silver Lake) highest grade nickel
inventory sulphide deposits in the
2.5 (before Juan
was discovered) Kambalda mining district
and is the first significant
2.0 discovery in decades in the
10 30 50 70 90 110 130 150 170 district
400
Source: Historical Mincor filings. Company Announcements. Sternship Advisers research. Contained Nickel (kt)




9

2. Cassini North……Another High-Grade Discovery





Cassini North a repeat of Cassini Main?

● Cassini Main first intersections were in the hanging-wall


● Cassini North (CN) first intersections were in the hanging-wall

● First on-contact intersection* (MDD350) at CN – 2.5m @ 6.6% Ni

● MDD350 was identified by moderate conductor & only 260m vertical

depth

● DHEM on MD350 has identified a conductor for follow-up

● MDD350 intersected in new channel position

● Cassini North only 700m from planned Cassini Main infrastructure


























* For the drilling results referenced on this slide, see ASX Announcement dated 9 September 2020


10

3. The Integrated Plan 12 months on………..








1. Financially and operationally robust DFS delivered in March 2020

2. Stage 1 early works at Cassini completed


3. Further early works at Northern Operations and Cassini approved

4. Mining Contract executed with Pit N Portal


5. Key staff appointments - General Managers for Cassini, Northern

Operations and Safety


6. Logistics contractor selected & grid power agreement

7. Key State Government approvals received


8. Bortana EV tested for underground, others now following
























11

3. DFS Highlights





Cassini Mine Schedule by Year (Long-Section Looking North-East)

Key DFS Outcomes


• Pre‐tax NPV of $305m and 98% IRR, with $585m EBITDA
7%

• Pre and post tax free cashflow generation of $407m and $315m respectively


• Capital payback from first concentrate production of 12 months


• LOM unit cash costs $3.36/lb (US$2.35/lb) with Cassini averaging $2.71/lb (US$1.90/lb)


• Pre-production capex of $68m, peak funding requirement $97m and LOM capex $179m


• LOM nickel and copper in ore of 71kt and 5kt respectively

Nickel Concentrate Production (tonnes 10,000 16,377 16,312
• Ore Reserves make up 92% of Mineral Inventory (8% Inferred Mineral Resource) 20,000
18,000
• Nickel in concentrate production 63kt (averaging 14ktpa), at 14.9% Ni 16,000
14,000
Conc)
• Peak annual production >16kt nickel in concentrate in FY23 and FY24 12,000

• Cassini upside with recent intersection of 17.6m @ 5.0% Ni excluded from DFS 8,000 10,868 13,756
6,000
4,000
• Significant exploration upside at Durkin North and Long (plus 1.1km space in between) 2,000 5,772
-
FY21 FY22 FY23 FY24 FY25 FY26

Nickel Concentrate Copper Concentrate Cobalt Concentrate
Refer to the ASX Announcement on 25 March 2020 for the Ore Reserves Update (and all relevant tables) and the DFS results. Mincor confirms that all material assumptions underpinning the production targets and forecast financial
information from those production targets, as reported on 25 March 2020, continue to apply and have not materially changed.

12

3. More Early Works




Cassini


● Site clearance for surface infrastructure – ROM, offices, site services


● Electrical and other infrastructure services commencing this week

Northern Operations


● Underground services and minor rehab at Otter

● Electrical and other infrastructure services










Haul Road
Offices and Workshop

Settling Dams
Box-cut
Waste Dump



Waste Dump


Topsoil dump







Site layout – May 2020 Cassini box-cut – May 2020

13

4. Nickel Nirvana – The “Golden Mile of Nickel”






Opportunities under single ownership



● Un-explored 1.1km space in Australia’s largest prolific nickel belt
Mincor seeking to leverage existing Long infrastructure and underground declines
●

● Potential to improve exploration and mining access at Mincor’s Durkin North Ore Reserves through new access from Long Shaft

● Mineralisation may be continuous from Long through to Durkin North – previously untested due to lease boundaries
Long and Durkin form the Northern Operations as detailed in the DFS
●

Potential access to Durkin North and preliminary exploration areas
































*For Mincor’s Mineral Resources and Ore Reserves see the appendix for more details, and the latest ASX announcement on dated 25 June 2020
14