MAHENGE BEST IN CLASS GRAPHITE PROJECT Mining Journal Conference June 2019 1
Disclaimer The release, publication or distribution of this presentation in certain COMPETENT PERSONS jurisdictions may be restricted by law and therefore persons in such The information in this report that relates to Exploration Results and Mineral jurisdictions into which this presentation is released, published or distributed Resource Statements is based on information compiled by John de Vries, who should inform themselves about and observe such restrictions. is a member of the AusIMM. He is an employee of Black Rock. John de Vries DISCLAIMER has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is This presentation is for informational purposes only and does not constitute undertaking to qualify as a Competent Person as defined in the 2004 and 2012 an offer to sell, or solicitation to purchase, any securities. Such Offer can be Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral made only through proper subscription documentation and only to investors Resources and Ore Reserves’. meeting strict suitability requirements. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. In The information that relates to Mineral Resources is based on and fairly providing this presentation Black Rock Mining Limited ACN 094 551 336 represents information compiled by Mr Lauritz Barnes, (Consultant with (“Black Rock”) has not considered the financial position or needs of the Trepanier Pty Ltd) and Mr Aidan Patel (Consultant with Patel Consulting Pty recipient. Persons needing advice should consult their stockbroker, bank Ltd). Mr Barnes and Mr Patel are members of the Australian Institute of manager, solicitor, attorney, accountant or other independent financial and Mining and Metallurgy and have sufficient experience of relevance to the legal advisors. styles of mineralisation and types of deposits under consideration, and to the activities undertaken to qualify as Competent Persons as defined in the 2012 FORWARD LOOKING STATEMENTS Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Various statements in this presentation constitute statements relating to Barnes, Mr Patel and Mr de Vries consent to the inclusion in this report of the intentions, future acts and events. Such statements are generally classified as matters based on their information in the form and context in which they “forward looking statements” and involve known and unknown risks, appear. uncertainties and other important factors that could cause those future acts, events and circumstances to differ materially from what is presented or The Ore Reserves have been compiled by Black Rock Mining, under the implicitly portrayed herein. Words such as “anticipates”, “expects”, “intends”, direction of Mr John de Vries, who is a Member and Chartered Professional of “plans”, “believes”, “seeks”, “estimates” and similar expressions are intended the Australasian Institute of Mining and Metallurgy. Mr de Vries is a full-time to identify forward-looking statements. Black Rock caution shareholders and employee of Black Rock Mining and holds performance rights in the company prospective shareholders not to place undue reliance on these forward- as part of his total remuneration package. Mr de Vries has sufficient looking statements, which reflect the view of Black Rock only as of the date of experience in Ore Reserve estimation relevant to the style of mineralisation this presentation. The forward-looking statements made in this presentation and type of deposit under consideration to qualify as a Competent Person as relate only to events as of the date on which the statements are made. defined in the 2012 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. 2
Table of contents Corporate Overview 4 Black Rock Mining 6 Why Graphite ? 7 Redefining the Road to Production 8 Enhancing the DFS 9 Financing Mahenge 10 Tanzania Normalising 11 Why invest in Black Rock 12 Summary 13 3
Corporate overview Black Rock Mining Limited is an Australian based company listed on the Australian Securities Exchange (ASX:BKT) with a 100% BKT ASX Ticker Share Price (as at 19 June 2019) A$0.097 interest in the Mahenge Graphite Project Shares on Issue 538.5m located in Tanzania. Options 47m Fully Diluted Market Capitalisation A$57m The Project has a JORC compliant Mineral Top 20 Shareholders c.42% Resource Estimate of 212m tonnes at 7.8% TGC. 8,000,000 0.12 7,000,000 0.1 6,000,000 The Reserve is 70m tonnes at 8.5% TGC and 0.08 5,000,000 supports a mine life of 250k tonnes of 4,000,000 0.06 3,000,000 0.04 graphite per annum for 25 years. 2,000,000 0.02 1,000,000 0 0 The contained graphite of the project is 1/2/18 1/3/18 1/4/18 1/5/18 1/6/18 1/7/18 1/8/18 1/9/18 1/10/18 1/11/18 1/12/18 1/1/19 1/2/19 1/3/19 1/4/19 1/5/19 1/6/19 ranked #2 in terms of Ore Reserves and #4 in terms of Resources 4
Leadership Team Black Rock Mining Corporate JOHN DE VRIES RAYMOND HEKIMA JEFF DAWKINS RICHARD CROOKES CEO, Vice President – Corporate Chief Financial Officer & Non-Executive Executive Director (Tanzania) Joint Co-Secretary Chairman Chartered Accountant with over A geologist with over 30 years Mining Engineer with over 35 Holding qualifications in 25 years commercial and executive experience in the years-experience in mine Environmental Sciences and corporate experience including resources and investments development and operations. Management with over 13 years over 20 years working for industries. Prior roles include Previously, General Manager experience with Government and resources companies with Investment Director at Mining PE Technical Services with St Corporate sectors. Raymond is particular experience in mine Fund EMR Capital, Executive Barbara and integral in the 2014 responsible for overall business development and start up of Director in Macquarie Bank’s turnaround. John has held and operations in Tanzania and offshore projects. Jeff was Metals & Energy Capital Division positions at BHP Ni West, and manages relationships and previously CFO during the and Chief Geologist then Mining was Global Business Manager, interactions with, National financing and development Manager with Ernest Henry Advanced Mining Solutions with Government, Local Government, phase of Archipelago Resources, Mining. Has raised capital and Orica Mining Services. John’s NGO’s and Community relations. Hanking Gold and Blackham financed a number of projects geographic experience includes Resources. Jeff was also CFO at globally, including across Africa. Africa, the Pacific, the FSU, North Peak Resources and most America and South America. recently Battery Minerals. 5
Black Rock Mining MAHENGE - Unique Geology and Geography No overprint mineralisation results in • industries highest and cleanest graphite concentrate Large flake distribution places product in • uncontested and multiple markets Large deposit results in intergenerational • mine life Large grind size permits dry stacking • Proximity to national grid provides access to • grid power Proximity to rail and deep water ports • lowers logistics complexity and costs Well educated local workforce • eliminates commute and camp Map showing location of Mahenge Graphite Project in Tanzania 6
Why Graphite? Demand for energy storage and • expanded applications is likely to double volumes over next decade Growing demand In the expandable market, • urbanization and building renovation Clean Production are driving demand for large flake and purity products EV & Batteries Search for high grade graphite • producers Flake Size opportunity Emerging Product Premium 7
Redefining the Road to Production Engineering approach to eliminating risks drive strong economics which underpin the financing process(s) Worlds first Mining Licence Scoping Offtake Pricing 99.1% TGC Pilot Plant granted Study Framework Purity Mar 2016 Jun 2016 May 2018 Feb 2019 May 2019 Production Apr 2016 Construction Apr 2017 Oct 2018 Mar 2019 Financing Secured Offtake DFS Metallurgical Pilot Plant 2 PFS Customers Enhanced testing secured Largest Pilot Plant run of any First to introduce a staged Graphite mine globally development model Sector first EPC vendor bid plant World first use of Dry Stack to with performance warranty eliminate tropical wet tails dam 8
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