Metro Mining : Investor Update January 2017

Investor Presentation 31 January 2017 Simple project, attractive fundamentals, proven team, near term production and compelling economics

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Transformational acquisition of project neighbour Gulf completed December 2016

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Bauxite fundamentals & price outlook remain strong driven by growing China seaborne demand

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Simple DSO project well located in Cape York with key freight advantage to China

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Excellent economics confirmed by 2016 PFS for standalone Metro operation - low capex (~A$40m), high margins with average annual EBITDA of ~A$134m over 13 year LOM*

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Attractive off-take secured with Xinfa, China's second largest bauxite importer

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Clear development pathway being accelerated and optimised by proven team

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Compelling investment proposition with production on track for H1 2018

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• MMI confirms all material assumptions underpinning the production target and corresponding financial information continue to apply & have not materially changed as per Listing Rule 5.19.2.

  Logical consolidation creating globally significant reserve base

  48

  Project Locations JORC Reserves (Mt)*

  97

  48

  THA	38.4%	40.4%	39.4%
  RxSi	6.4%	6.3%	6.3%

  Metro Bauxite Hills Project

  3

  Gulf Skardon River Project

  Combined Bauxite Hills Mine

  *For further Reserve and Resource details see appendix.

  Combined project has significant synergies

  Key Project Attributes

  Metro Bauxite Hills Project

  Gulf Skardon River Project

  Combined Bauxite Hills Mine

    

  Native Title & Land Access

  -  

  Existing Infrastructure

  Environmental

  Approval Pending

  5Mtpa

  • 5Mtpa



5Mtpa

10Mtpa - pending

 - 

Strategic Investor Support

Off-take  - 

 - 

Transhipment Solution

BFS  - In progress

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