Aspire Mining : Chair AGM Presentation

Published: 2021-11-30 00:21:12 ET AKM.AX

ASPIRE MINING LIMITED

ersonal use only

OVOOT COKING COAL PROJECT ("OCCP")

WORLD CLASS PROJECT PROVIDING

BEST IN CLASS ESG OUTCOMES

AGM PRESENTATION

NOVEMBER 2021

DISCLAIMER IMPORTANT INFORMATION

NATURE OF THIS DOCUMENT

This presentation has been prepared by Aspire Mining Limited (Aspire or the Company). The information is based on publicly available information, internally developed data and other sources. By receiving this presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer.

onlyIt is the responsibility of all recipients of this presentation to obtain all necessary approvals to receive this presentation and receipt of this presentation will be taken by the Company to constitute a representation and warranty that all relevant approvals have been obtained.

NOT AN OFFER

This presentation is for information purposes only and do not purport to be all inclusive or to contain all information about the Company or any of the assets, current or future, of the Company.

This presentation does not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law.

This presentation also does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any ffer to buy or subscribe for any securities in any jurisdiction nor shall they or any part of them form the basis of or be relied upon

in c nnection therewith or act as any inducement to enter into any contract or commitment with respect to securities.

Any decision to purchase new shares must be made on the basis of each investor's own investigations and inquiries into the Company on the basis of the information to be contained in the prospectus to be prepared and issued to eligible investors and a user vi w of the Company's other periodic and continuous disclosure announcements lodged with the ASX, which are available at

www.asx.com.au.

This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. This pre entation and its contents must not be distributed, transmitted or viewed by any person in the United States or any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

NOT INVESTMENT ADVICE

This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and its contents are not intended to be used for the basis of making an investment decision.

Recipients of this presentation should carefully consider whether the company is an appropriate investment for them in light of their personal circumstances, including their financial and taxation position.

This presentation does not take into account the individual investment objectives, financial situation and particular needs of each ersonalinvestor or shareholder. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither Aspire nor any of its related bodies corporate is licensed to provide financial product advice in

respect of Aspire's securities or any other financial products.

FORWARD LOOKING STATEMENTS

This presentation contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of ma agement made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

Assumptions have been made by the Company regarding, among other things: the price of coking coal, the timely receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the completion of a feasibility study for the Ovoot Coking Coal Project on its exploration and development activities, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company.

ASPIRE MINING LIMITED | AGM PRESENTATION

Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward- looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of coking coal, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

DISCLAIMER

No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this presentation, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. To the maximum extent permitted by the law, the Company disclaims any obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

Competent Person Statements - Ovoot Early Development Project (OEDP)

The technical information contained in this presentation in relation to the JORC Code (2012) compliant Ore Reserves and JORC compliant Mineral Resources for the Ovoot Early Development Project is reported in the Company's ASX announcement dated 11 November 2019.

The Company is not aware of any new information or data that materially affects the information included in this presentation. All material assumptions and technical parameters underpinning the estimates in the ASX Announcement continue to apply and have not materially changed.

Competent Person Statements - Ovoot Coking Coal Project (OCCP)

The technical information contained in this presentation in relation to the JORC Code (2012) compliant Ore Reserves and JORC compliant Mineral Resources for the Ovoot Coking Coal Project is reported in the Company's December 2013 Quarterly Activities Report released to ASX on 31 January 2014.

Competent Persons Statement - Nuurstei Coking Coal Project

The technical information contained in this presentation in relation to the JORC Code (2012) compliant Ore Reserves and JORC compliant Mineral Resources for the Nuurstei Coking Coal Project is reported in the Company's ASX Announcement dated 13 April 2016.

The Company is not aware of any new information or data that materially affects the information included in this presentation . All material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

OUR COMPANY AIM: RESPECT

Aspire aims to be a positive force for improving the ives and the environment in which it operates through:

▲ Respecting the environment and investing in

only

sustainable energy sources for a secure future.

▲ Respect the local culture and support initiatives to

enable herders to maintain their lifestyle.

▲ Respect the land and water and seek to mitigate

use

impacts at all levels of the Company's activities.

▲ Respect the people of the region through providing

meaningful employment, education and training and

improving their health and well being.

▲ Respect the local laws and regulations and seek to

exceed these as a minimum standard.

ASPIRE MINING LIMITED | AGM PRESENTATION

ersonal

ASSET OVERVIEW AND LOCATIONS

Key Information

nlyo

Ownership:

▪

Aspire (100%)

Commodity:

▪

Premium "Fat" Coking Coal

Mine Type:

▪

Open Pit

JORC Reserves

▪

Reserves: 255Mt

OVOOT

& Resources1:

▪

Resources: 281Mt

Tenement Area:

▪

51.4km2 tenement position

▪ 30 Year Mining Licence granted August 2012

▪ PFS completed for a trucking based solution to Erdenet via

use

Status:

the Ovoot Early Development Plan (OEDP).

▪ Front End Engineering for DFS underway

Cash :

▪ A$34m in cash. No Debt

JORC Reserves1 (Mt)

Reserves

ersonal

Proven

Probable

Reserves

Deposit

Ovoot Open Pit

247.0

Ovoot Underground

8.0

Total

255.0

Ovoot Early Development Project

53.8

JORC Resources1 (Mt)

Resources

Deposit

Measured

Indicated

Inferred

Total

Ovoot Open Pit

197.0

46.9

9.2

253.1

Ovoot Underground

25.4

2.6

27.9

Nuurstei

4.7

8.2

12.9

Total

197.0

77.0

20.0

294.0

ASPIRE MINING LIMITED | AGM PRESENTATION

OCCP: PATH TO PRODUCTION

 The OCCP is based on trucking coal to the nearest

railhead at Erdenet

only



Aspire intends to mine and wash "fat coal" and

transport it 560km from the mine-site by road to

Erdenet

▪ Aspire to build a special purpose road to transport

use

washed coking coal to Erdenet

▪ The coal will then be transported a further ~1,000km

by rail wagons to Erlian in Northern China

 Aspire is targeting markets with majority of its fat

coking coal being marketed and sold to steel

customers located in China and Russia

 PFS revised in November 2019 to reflect updated

ersonal

mining and logistics costs and a revised mine schedule

▪ Updated PFS economics of NPV10 (pre tax) US$878m and IRR (pre tax) of 49.4%

Source: Refer to ASX Announcement dated 11 November 2019 in relation to the OEDP PFS

ASPIRE MINING LIMITED | AGM PRESENTATION

Physicals

Unit

Amount

Summary

Waste Mined

M Bcm

253

Strip Ratio (incl. pre-strip)

Bcm/t

4.7

Coal Mined

53.8

Case

Average Yield (10% Moisture)

Extended

Coal Sold (net of 2% loss)

44.7

Operating Expenditure

Unit

Amount

PFS

Mining

US$/t

Trucking

US$/t

Rail + Border Charges

US$/t

C1 Cash Costs

US$/t

Total Cash Costs

US$/t

Sustaining Capital Expenditure

US$M p.a.

3.0

Capital Expenditure

Amount (US$M)

CHPP Plant

Onsite Infrastructure

Offsite Terminals and Blending Facility

Mine Processing & Infrastructure

Waste pre-stripping

Total Mine Capital

Road

165

Total Capital Expenditure

259

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Disclaimer

Aspire Mining Limited published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 05:20:00 UTC.