Myanmar Metals

Website: www.myanmarmetals.com.au
Primary ticker: ASX:MYL
Stage of development: Exploration, Development
Commodity: Lead, Silver, Zinc
Project to promote: Bawdwin Project
Project location: Myanmar

Live financials

Cash: AUD$31M
Debt: NIL

Major shareholders:
PERILYA LTD – 18%
YANDAL INVESTMENTS – 11.5%
JP MORGAN NOMINEES AUSTRALIA PTY LTD – 4.17%
CITICORP NOMINEES PTY LIMITED – 3.90%
MARFORD GROUP PTY LIMITED – 2.35%
Management Ownership – 2.5%

Myanmar Metals Limited is an ASX listed mining company with a 51% majority participating interest in the world class Bawdwin deposit located in Shan State, Myanmar. Our vision is to be a leading regional base and precious metals producer. The foundations to realise our vision are: a Tier 1 project in a strategically advantageous location, outstanding exploration potential, a management team with experience and depth, and local partners who substantially de-risk our operations.

Management Profile

 

John Lamb, Chairman & CEO

Mr Lamb’s career spans over 30 years in mining, construction and heavy transport in Australia and Asia. Prior to joining Myanmar Metals as Chairman and CEO in 2017, Mr Lamb held CEO roles in civil construction and heavy transport companies, and Operational General Manager roles at the Century Mine in Queensland and Rosebery Mine in Tasmania. A Chartered Professional Fellow of the Aus.IMM and Order of Merit Graduate of the AICD, Mr Lamb has consulted widely in the resource sector and has served on numerous industry panels and boards. He presently chairs boutique business broker and consulting firm, Tasmania Invest.


What is your rationale for taking part in 121 Mining Investment?

To meet long-term strategic investors who want exposure to the growth we can achieve as we develop and bring into production one of the world’s largest high-grade polymetallic mines. We are seeking investors who share our vision to realise the value of our investment in the Bawdwin Project and to make a valuable contribution to the people of Myanmar.


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

Within a few short months, Myanmar Metals is seeking to have an approval permit from the Myanmar Investment Commission (MIC) which represents the most important government approval required to commence operations at Bawdwin. A final feasibility study will be soon published on the Bawdwin Project, which will demonstrate the exceptionally strong economics of the project. The Company will also be seeking to secure its project financing with the aim to commencing construction before the end of 2020 and be in production by 2022.


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

3 months:

MIC approval to be granted by the Myanmar Government. Feasibility Study completed on the Bawdwin project.

6 months:

Project finance secured in full. Commencement of site construction works.

12 months:

Site construction and mine development works to be well advanced and key plant, equipment and infrastructure in place or in the process of being finalised.


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

Macro-economic factors that impact negatively on investor sentiment.


What do you think makes your company such a compelling investment?

Bawdwin is a tier 1 world-class global mining asset. It is roughly equivalent in size and grade to South 32’s Cannington project, and yet it is in the hands of Myanmar Metals and its local JV partners. This gives our investors a unique opportunity to own and develop a major global mining asset. This one mine has the potential to transform the local and national economy of Myanmar and create thousands of jobs for the Myanmar people, and to substantially increase the flow of foreign investment into the country.

Analyst Insight – provided by Independent Investment Research

Myanmar Metals Limited is an ASX-listed mining company, with a 51% majority participating interest in the world-class Bawdwin deposit located in Shan State, Myanmar.

Prior to the Second World War, Bawdwin was the largest producing lead mine and one of the largest producing silver mines in the world. After the Second World War, the Myanmar state owned mining entity held the mining concession until 2009, when Win Myint Mo Industries Co. Ltd (WMM) acquired the rights to produce from the 38 sq km Bawdwin Concession.

Bawdwin has remained on care and maintenance since this time. In June 2018 Myanmar Metals exercised an option to acquire a 51% participating interest in the project and the Bawdwin Joint Venture (BJV) was formed, with local partners WMM and East Asia Power (Mining) Company Limited (EAP) who each hold a 24.5% interest.

Bawdwin is a tier-1 world-class global mining asset. It is roughly equivalent in size and grade to South 32’s Cannington project, and yet it is in the hands of Myanmar Metals and its local joint venture partners. This gives investors a unique opportunity to own and develop a major global mining asset. This one mine has the potential to transform the local and national economy of Myanmar and create thousands of jobs for the Myanmar people, and to substantially increase the flow of foreign investment into the country.

After completing project scoping studies in 2017 and 2018, the Bawdwin JV finalised the Pre-Feasibility Study on the first phase of mining operations at Bawdwin, the starter-pit, in May 2019. Project studies completed to date indicate a profitable, long-life, low-cost mining operation can be established on an accelerated schedule.

A final feasibility study will be soon published on the Bawdwin Project, which it is hoped will demonstrate the exceptionally strong economics of the project. The company will also be seeking to secure its project financing with the aim to commencing construction before the end of 2020 and be in production by 2022. The company is also seeking to have an approval permit from the Myanmar Investment Commission (MIC), which represents the most important government approval required to commence operations at Bawdwin.