Australian Mines

Primary ticker: ASX:AUZ
Stage of development: Development
Primary minerals: Cobalt, Nickel
Project to promote: Sconi Cobalt-Nickel Project

Live financials

Australian Mines is building Australia’s pre-eminent cobalt and nickel sulphate production company, with both products in high demand for the growing EV sector.
Following an increase in Mineral Resources at Sconi in 2019, the Company updated the mine plan and economics of Sconi.
The Ore Reserve increased by 69% to 57.30 million tonnes, with the mine life now 30+ years.
This results in the project generating AUD13.3 billion revenue over the project life, with AUD5.0 billion total free cashflow.
Sconi has an NPV8 of AUD1.47 billion and a pre-tax IRR of 20%.

Management Profile

Ben Bell, Managing Director

Ben is an experienced company executive, with a career in the Australian exploration and mining sector spanning more than two decades. He is a qualified geologist and geophysicist, with significant management and on-the-ground experience working for listed companies, government agencies and as a respected industry consultant.

Sophia Bolhassan, Investor Relations Manager

Sophia has ten years’ experience in investment banking including strategic planning and business development, as well as previous experience in Mergers and Acquisitions (M&A), and equity capital market transactions support.

What is your rationale for attending 121 Mining Investment?

We are looking for equity investors to assist int he financing of the Sconi Project in Queensland

What recent news would you like to highlight to investors attending?

Following execution of the binding offtake agreement with SK Innovation, the Company is progressing with financing of the Sconi Project. This will likely include debt (private and Government), equity and offtake financing.
The Company plans to complete financing in 2019 and immediately commence construction of the project, with first production from 2021.

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Complete financing of the Sconi Project

6 Months:
Construction underway at Sconi

12 Months:
Construction progressed, advanced Flemington Project in NSW to BFS

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Major challenge is financing a major $1.3 billion project while retaining full ownership

In a sentence, what do you think makes your company such a compelling investment?

Australian Mines provides exposure to the growing electric vehicle sector with nickel and cobalt both commodities required for EV batteries. Once developed, Sconi will be the leading Australian producer of nickel sulphate and cobalt sulphate, with significant cashflow to be generated over the 30+ year project life.