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PAN ASIA
Exploring a Better Future
PAN ASIAINVESTOR PRESENTATION
27 August 2021
TM
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“The new science takes us from a colonial vision of nature as an enemy to pillage and enslave, to a new vision of nature as a community to nurture. The right to exploit, harness, and own nature in the form of property is tempered by the obligation to steward nature and treat it with dignity and respect. The utility value of nature is slowly giving way to the intrinsic value of nature.”
Jeremy Rifkin, The Third Industrial Revolution: How Lateral Power Is Transforming Energy, the Economy, and the World
Exploring a Better Future 2
PAN ASIAFor
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COMPANY PURPOSE
WHY we existWe are here to be part of the new energy and technology revolution.
Pan Asia Metals enters the revolution with conviction, integrity and determination, always retaining sustainability as a core goal.
Because we believe that this will bring better returns for all our stakeholders.
Exploring a Better Future 3
PAN ASIAFor
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COMPANY PURPOSE
HOW we matterWe are exploring for the metals that make a difference in the world.
Pan Asia Metals explores for the battery critical metals that will power the new energy future.
Any impact we’ll have will always be offset by the goods we’ll help to produce, activities that will help local communities and production that will benefit the global society.
Exploring a Better Future 4
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Exploring a Better Future 5
PAN ASIA
WHAT we doWe have 3 highly prospective exploration projects in the Southeast Asian Tin-Tungsten Belt.
Pan Asia Metals is currently exploring future opportunities for Lithium and Tungsten.
Unlike most exploration companies, Pan Asia Metals has positioned itself with the potential to add value to what we mine, producing advanced, higher-margin, products.
Our ultimate aim is to refine our value added product into precursor chemicals: highly refined metals to sell on to battery manufacturers in the critical and lucrative EV and LIB markets.
Our longer-term goal is to be involved in this part of the supply chain.
We’re also exploring ways to improve the future of the communities we engage with.
Pan Asia Metals has also firmly positioned itself as a local company, with 10+ years’ presence in the region, and a resident team of 7 Thai employees: 3 geologists, 1 liaison officer and 3 admin and accounting staff. We also use local contractors and often employ a large casual workforce when exploring.
We are well-known and respected in the local business community and across many of the relevant Ministries and Departments of Thailand.
We believe that local relationships are key to our success. And we don’t just mean donating money. We mean committing serious time and effort to engage with the community in areas that are important to them, from respecting their heritage and safeguarding their health, to supporting their sports teams and co-shaping their children’s education.
COMPANY PURPOSE
Bangkok
Phuket
Ranong
THAILAND
Reung Kiet Lithium Project (100%)
Bang Now Lithium Project (100%)
Khao Soon Tungsten Project (100%)
The South East Asian Tin - Tungsten Belt comprises several types of granite provinces1
1. Source: after Cobbing et al. (1986) and Gardiner et al. (2014)
We see the two as inseparable halves of EXPLORING A BETTER FUTURE.
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Exploring a Better Future
PAN ASIA
6
PROBLEM
Exploring a Better Future 6
PAN ASIA
The world is changing.
Technology is moving at a breakneck pace to keep up with new demands of a sustainable world, and humanity urgently needs metals like Lithium and Tungsten to connect and protect the planet.
The number of mobile devices operating worldwide is expected to reach 17.72 billion by 2024, an increase of 3.7 billion devices compared to 2020.1
Electric cars are fast becoming the new reality: most new car sales could be EVs by 2050, and almost all cars could be electric by 2070.2
And mining is changing with it.
Mining is essential to achieving a new energy future, but there is a real need to ensure no errors of judgement are made that could leave the industry’s reputation tainted.
Mining companies need to be more mindful than ever that it’s not just what they produce that matters, but the way in which they go about it -- with utmost respect for the land and the people on it.
They need to build longstanding agreements with local communities, instilling trust in them and forging confidence with governments, investors and the public alike.
For both these urgent reasons, Ethical Energy is of paramount importance.For
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PAN ASIA
A view to success.
Pan Asia Metals have successfully navigated Thailand’s stringent exploration approval processes, engaging all the necessary stakeholders to secure exploration licenses. We are currently exploring the Southeast Asian Tin-Tungsten Belt in an ethically responsible manner.
Our long-term vision lives far beyond a mining operation, and resides in the realm of advanced metal production, supplying high-margin, high-purity products to be used in the EV and LIB supply chains.
An eye for empowerment.
In addition to minimising our footprint on the land, Pan Asia Metals sponsors local education through an initiative we’ve launched called ‘The Village Scientist’.
As it grows, with the participation of like-minded individuals and companies operating in the Southeast Asian region and globally, this grassroots program will empower local communities by creating an inspiring learning environment that will reap multiple benefits for the new generation -- and the next.
SOLUTION
As we grow, we’ll help society -- from the village through to the world.
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WHY NOW
Geo-strategic advantages.• Positioned for lower capex and opex operating outcomes = lower production costs• Situated between the advanced industrial economies of Thailand and Malaysia• Close proximity to all process inputs and markets
Positioned to move beyond the mine gate.• Holdings in strategic metals• At or near surface mineralisation• Favourable mineralogy• Low-cost environment• Relatively simple pathways to produce value-added Lithium and Tungsten products
Experienced board and management.• Over 65 years’ Southeast Asian operating experience• Support from Thai based investment• Significant support from Thai Government and local business communities
Advanced exploration assets.• 2 lead projects have been drilled: - Reung Kiet Lithium and Khao Soon Tungsten.• Potential share price catalysts:- Drilling results- JORC mineral resources- Feasibility studies- Portfolio expansion
The Southeast Asian Tin-Tungsten Belt is underexplored.
The region offers a rich selection of low-cost project opportunities, with huge value-added potential.
We’re perfectly positioned to advance our current assets and secure additional ones.
Our 3 current Southeast Asian projects are situated in close proximity to Asia’s rapidly growing EV and LIB markets, to which Lithium and Tungsten are both critical -- offering a big opportunity for Investors.
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MARKET POTENTIAL
Lithium demand growth by end market.
JP Morgan recently noted that 2030 lithium demand would increase 545% over 2020. Demand growth from Electric vehicles would be nearly 10x that of 2020.3
Electric vehicles
43%
Electric vehicles
76%
Batteries (traditional)
11%
Batteries (traditional)
2%
E-Bikes14%
E-Bikes5%
Energy storage
2%
Energy storage
10%Industrial/
other31%
Electric vehicles
68%
Batteries (traditional)
5%
E-Bikes9%
Energy storage
4%
Industrial/other15%
Industrial/other
6%
2020 2025 2030
Lithium Demand Forecast
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PAN ASIA
Global EV Growth forecasts.
JP Morgan has forecast that EV penetration into total vehicle sales will increase from 3% in 2020 to 27% in 2030, while ICE sales would surrender over 50% its market share.3
MARKET POTENTIAL
Global EV Sales Growth and Market Penetration Forecast
PENETRATION - BATTERY RAW MATERIAL DEMAND TO 2030
Global natural graphite demand to grow x 7 to approximately 5.9Mt by 2030(Assuming 45% synthetic graphite into the anode and "conservative view" of silicon use) - UBS Bank (Mar 2021)
16
GRAPHITE FOR DOWNSTREAM BATTERY MARKET 14
GRAPHITE FOR DOWNSTREAM BATTERY MARKET 14MARKET POTENTIAL0
20,000
40,000
60,000
80,000
100,000
120,000
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
Veh
icle
Sal
es (K
)
Units
Pure ICE
Full + Mid Hybrids
PHEVs
BEVs
BEV penetration
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MARKET POTENTIAL
Global LIB demand forecast: exponential growth.
• EV adoption rate is increased from 17% to 20% by 2025 and from 40% to 50% in 2030 going from just over 3m vehicles last year to 46m vehicles in 2030
• Lithium-ion battery demand jumps 174,605 GWh by 2030 with energy storage making up around 6% of the total
• Natural graphite demand grows by a factor of seven by 2030 (assuming 45% synthetic graphite into the anode and “conservative view” of silicon use) to roughly 5.9mt.
Source: UBS Bank – March 2021
CAGR% p.a.
CAGR% p.a.
GLOBAL BATTERY DEMAND FORECAST EXPONENTIAL GROWTH 15
19X
2018 2020 2025 2030
184142
291238
1,329
58 117
1,154
3,562
69 104
3,389 Electric mobility
Energy storage
Consumer electronics
38 5 43 11
30
30
5
19X
2018 2020 2025 2030
184126
291142
1,329
638
3,562
22 2115 366152241208242
1,437
1,012
541
572
China
EU
USA
Rest ofworld
22
32
30
42
In February 2019, Benchmark noted in a report to the US Senate Committee on Energy and Natural Resources, that1,747,800 tonnes of graphite anode would be required to meet annual lithium2028.
GRAPHITE FOR DOWNSTREAM BATTERY MARKET
In February 2019, Benchmark noted in a report to the US Senate Committee on Energy and Natural Resources, that1,747,800 tonnes of graphite anode would be required to meet annual lithium2028.
Global battery demand is expected to grow by a factor of 19 on 2018 consumption to reach nearly 3,600 GWh in a 2030 target case.4
• EV adoption rate is increased from 17% to 20% by 2025 and from 40% to 50% in 2030 going from just over 3m vehicles last year to 46m vehicles in 2030
• Lithium-ion battery demand jumps 174,605 GWh by 2030 with energy storage making up around 6% of the total
• Natural graphite demand grows by a factor of seven by 2030 (assuming 45% synthetic graphite into the anode and “conservative view” of silicon use) to roughly 5.9mt.
Source: UBS Bank – March 2021
CAGR% p.a.
CAGR% p.a.
GLOBAL BATTERY DEMAND FORECAST EXPONENTIAL GROWTH 15
19X
2018 2020 2025 2030
184142
291238
1,329
58 117
1,154
3,562
69 104
3,389 Electric mobility
Energy storage
Consumer electronics
38 5 43 11
30
30
5
19X
2018 2020 2025 2030
184126
291142
1,329
638
3,562
22 2115 366152241208242
1,437
1,012
541
572
China
EU
USA
Rest ofworld
22
32
30
42
In February 2019, Benchmark noted in a report to the US Senate Committee on Energy and Natural Resources, that1,747,800 tonnes of graphite anode would be required to meet annual lithium2028.
GRAPHITE FOR DOWNSTREAM BATTERY MARKET
In February 2019, Benchmark noted in a report to the US Senate Committee on Energy and Natural Resources, that1,747,800 tonnes of graphite anode would be required to meet annual lithium2028.
Global battery demand by applicationGWh in 2030, target case
Global battery demand by regionGWh in 2030, target case
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COMPETITIVE ADVANTAGES
Pan Asia Metals has 3 distinct advantages over the competition:
• We’re in close proximity to our inputs and markets, reducing costs and carbon footprint.
• We’re located between the low cost advanced industrial centres of Thailand and Malaysia.
• We’re positioning to move beyond the mine gate and value-add to what we produce.
Exploring a Better Future 12
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COMPETITIVE ADVANTAGES
Lepidolite has the potential to be the lowest operating cost source of Lithium Hydroxide.Lithium Hydroxide operating cost comparison:5
Processing Lepidolite can be a very low cost source of lithium chemicals. Why:
• Lepidolite is the only source of lithium with a suite of by-products which help reduce overall cost. For a project in the right location, such as SE Asia, the potential by product suite includes tin, tantalum, quartz and feldspar in the concentration phase, and caesium, rubidium, potassium, silica and gypsum in the process phase.
• There are several processing routes for Lepidolite using conventional equipment operating at low pressures and temperatures and using standard re-agents.
• The production of lithium products may be achieved with a near zero waste stream and low to neutral carbon emissions, depending on the source of energy.
Spodumene Concentrate (6% Li2O) Conversion Cost to LiOH
USD $3,5005a USD $3,3555b USD $6,855/t LiOH
Australian Spodumene (Chinese Conversion)
Processing Cost to Li2CO3(technical grade)
Processing Cost to LiOH
USD $4,3725c USD $1,5005d USD $5,872/t LiOH
Brine
USD $3,142USD $3,142/t LiOH5e
Geothermal
Processing Cost to LiOH
USD $1,656 USD $1,656/t LiOH5f
Lepidolite
Processing Cost to LiOH
Reso
urce
Gra
de (L
i2O
%)
1.30%
0.15%
0.04%
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COMPETITIVE ADVANTAGES
The only lithium projects in SE Asia.
- Chile is responsible for ~65% of lithium carbonate exported to other countries for 12 months May, 2020.- Argentina exported 15% of total lithium carbonate exports in the same period.
Pan Asia Metals- Only Li projects in South East Asia.- Uniquely sitiuated, close proximity to EV and LIB Manufacturers.
- China responsible for ~85% of lithium hydroxide exported to other countries for 12 months May, 2020.- China, Korea and Japan are currently largest battery producers.- China is currently the largest spodumene converter.
Lithium Supply and Battery Manufacturing (Planned, Development and Operating)PAM Projects LIB Battry Plants Spodumene Conversion Lithium Projects
Economic Silk Road Maritime Sik Road
Pan Asia’s projects are proximal to all required inputs and markets for its outputs.7
See Appendix for more information.
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PAN ASIAGlobal Tungsten Projects (Exploration, Development and Mining)
PAM Projects Projects in higher cost jurisdictions Projects in lower cost jurisdictons
Economic Silk Road Maritime Sik Road
- Pan Asia Metals Khao Soon- Tungsten Project is potentially of a- similar scale to Nui Phao, and is - also situated in a low cost - environment and close to its markets.- Drilling to date at Khao Soon has - produced on average higher WO3 - grades than those at Nui Phao.
- 27/45 (60%) of the projects are situate- in higher cost jurisdictions,- The tungsten peer group is starved of- fresh projects with robust economics,- Most projects are uneconomic due to their cost environments.
- Masan Resources’ Nui Phao tungsten project in - Vietnam is the leading project in the global tungsten - peer group with fully integrated downstream operations.- Nui Phao has the advantage of a low cost operating- environment and proximity to its markets.
China 82% of global tungsten
production(USGS, 2021)
The tungsten pipeline is bare.
COMPETITIVE ADVANTAGES
See Appendix for more information.
Pan Asia’s projects are proximal to all required inputs and markets for its outputs.6
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PAN ASIA
COMPETITIVE ADVANTAGES
Pan Asia Metals’ projects sit between two complex industrial economies.8
See Appendix for more information.
THAILANDGDP Rank: 22ECI Rank: 30
Bangkok
Phuket
Kuala Lumpur
Singapore
Ranong
Target Markets
Targ
et M
arke
ts
MALAYSIAGDP Rank: 35ECI Rank: 25
Economic Complexity Index (2019 Ranking)
• Japan: No.01• Chinese Taipei: No.02• Germany: No.04• Singapore: No.06• Malaysia: No.25• China: No.27• Thailand: No.30• Chile: No.75• Australia: No.80
Thailand 4.0 andS-Curve Targets
• Aerospace• Alternative Energy• Next-gen Automotive • Automation & Robotics• Bioeconomy• Bio-plastics• Defense • Digital Economy & Software • Food • Machinery • Medical Hubs• Printing • Smart Electronic• Textiles
Thai Electric Vehicle Policy
• Focus on EVs and LIBs Prod.• Up to 10 Year Tax Exemptions• Import Tarif Exemptions• Manufacturing Underway
Thai Auto Industry(No. 1 in SE Asia)
• 18 Auto Assemblers• 9 Motorbike Assemblers• 710 Tier 1 Auto Parts Cos• 1,700 Tier 2 & 3 Suppliers• No. 1 Auto Manufacturer in SE Asia• No.2 1-Ton Pickup Manufacturer Globally • No.4 Auto Manufacturer in Asia• No.6 Commercial Vehicle Manufacturer Globally • Largest Auto Export Market:Australia
Gross Domestic Product(2019 Ranking)
• Thailand: No. 22 - 544 Billion• Malaysia: No. 35 - 365 Billion
Pan Asia Metals' projects sit between two complex industrial economies
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PAN ASIA
BUSINESS MODEL
Pan Asia Metal’s focus is to secure low-cost projects with strong value-add potential.
Exploration and
DevelopmentMining
Value Adding
Deliver Concentrate into Market
Downstream Opportunities
Precursor ChemicalsTungsten Compounds
Other
Retain for internal or JV Requirements
- Most mining companies are limited to mine gate sales- This offers little opportunity for pro-active revenue and/or profit expansion.
- With the right geography, and the right Capex and Opex dynamics, an exploration company can position to extend downstream - These opportunities are limited
Value adding provides more opportunity for enterprise expansion and profit growth.
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Pan Asia Metal’s focus is to secure low-cost projects with strong value-add potential.
Operating Costs Dynamic
Low demandLow prices
High demandHigh prices
High CostOperations
Low CostOperations
Worst SegmentLow/negative marginsHigh cost operations perform poorly or fail.
High Cost = High RiskHigh cost operations perform well but the underlying dynamic for the high price environment tends to be short lived.
Best SegmentVery high marginsLow cost operationsperform very well.Substantial balance sheet improvement in a short period.
Low Cost = RobustnessLow cost operations tend to perform reasonably well in low price environments, maintaining profitability.
Market Demand
Ope
ratin
g Co
st
The Value in Value Adding
Min
e G
ate
Sale
s
Revenue volatility tends to decrease
Commodity end of the marketProfit growth restricted to the underlying commodity market cycle or cost efficiency gains.Customer base tends to be concentrated with fewer opportunities for expansion.
Valu
e A
dded
Pro
duct
Operating margins tend to
increase
Value-added end of the marketMore opportunities for enterprise
expansion and profit growth.Customer base is less concentrated.
BUSINESS MODELF
or p
erso
nal u
se o
nly
Exploring a Better Future 19
PAN ASIA
JSP
L 1/
2562
JSPL
3/2
562
JSPL
2/2
562
Reung Kiet Prospect
Bang I Tum Prospect
12km Prospective Trend
EPLA 2/2564
Rajjaprabha Hydro Power Station
240 MW
OUR PROJECTS
Reung Kiet Lithium Project (Pan Asia Metals 100%)
See Appendix for more information.
Licence Boundary Prospective Trend Road
High Voltage Power Drill Holes Historic Tin Mines
• Extensive historic open pit tin mining in project area up to the 1980’s
• Lepidolite (lithium mica) rich pegmatites identified at several mines in late 1960’s
• Two main areas now being drilled, Reung Kiet and Bang I Tum prospects
• Extensive lepidolite pegmatite dyke/vein swarms identified in drilling, two 1km long trends
• Good near surface lithium intersections extending to at least 150m below surface
• Mineralisation is open along strike and at depth, drilling continuing
• Mineral Resource estimates anticipated later in 2021
• Project and background studies to commence
• Strong government and stakeholder support
• Pan Asia potentially the only lithium carbonate/hydroxide manufacturer in SE Asia
Project points:
85
km
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OUR PROJECTS
JSPL 2/2562
Reung Kiet Lithium Project - Reung Kiet Prospect
EPLA 2/2564
Li2O Soils Index: >=0.12% >=0.035% | Li2O Rock Chips >=1.00% >0.30% <0.30% Tenement Tenement Application Drill Collar Drill Collar (Planned)
National Road National Rail HV Power Cross Section
A
A CX RKDD008-015-017
Pegmatite float2.77% Li2O
Rock chips / channels avg.
1.56% Li2O
RKDD
008
Trench 313 Samples
Avg 1.45% Li2O
11.3m @ 0.47% inc. 3.9m at 0.75%
4.2m @ 1.30%1.3m @ 1.57%
2.3m @ 1.47%
S I LT S T O N E
P E G M AT I T ED Y K E S W A R M
MSL
-100m
RKD
D01
5
249.3m
50m
Plan
ned
Hol
e
Composite grade: 30.15m @ 0.72% Li2O
Reung Kiet Lithium Project - Reung Kiet Prospect
Cross Section - CX RKDD008-015-017 looking northeast Li2O Intersections Pegmaitites Siltstone
AA2.0m @ 1.15%RK
DD01
7
�������
����
����
163m
�������
����
����
4.15m @ 0.57%
9.3m @ 0.86%
3.25m @ 0.65%
Composite grade: 25.3m @ 0.72% Li2O
85m
BOW
Lorem ipsum
Li2O Soils Index: >=0.12% >=0.035%
Trench 18 Samples
Avg 1.62% Li2O
Composite intersection: 18m @ 0.72% Li2O
Reung Kiet Lithium Project - Reung Kiet Prospect
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Reung Kiet Lithium Project (Pan Asia Metals 100%)Project highlights:
• Only lithium explorer in SE Asia, exploring since 2017i. Prospective strike length >2.5kmii. Significant indications of lithium in trenches, rock chips and soilsiii. >30 diamond core holes drilled to date for a total of 4,213miv. Extensive lepidolite rich pegmatite dyke swarms intersectedv. Mineral Resource estimates anticipated later in 2021
vi. Strong underlying dynamics, aligned Thai government policy
• Reung Kiet Prospecti. Old tin pit ~500m long, up to 125m wide, ~20m deep
ii. Pegmatite dyke swarm extending >500m southeast of pit, up to 100m wide containing numerous dykes, veins and stringers
iii. Strong lithium results from trenches and rock chips, 107 samples average 1.43% Li2O
iv. >24 drill holes completed, targeting under pit and pegmatite dyke swarm extending southeast of pit, drilling is ongoing
v. Drill intersections include:
– RKDD002 - 15.6m @ 0.82% Li2O from 55m, including 9m @ 1.00% Li2O
– RKDD008 - 4.2m @ 1.30% Li2O from 31.9m and 11.3m @ 0.47% Li2O from 75m
– RKDD009 - 6m @ 1.08% Li2O from 38.5m and 4.5m @ 1.44% Li2O from 47.6m
vi. Lepidolite rich pegmatites open to north and south of existing drillholes
vii. Untested targets east and west of the pegmatite dyke swarm
• Bang I Tum Prospect
i. Old tin pit ~650m long, up to 125m wide, ~20m deep
ii. 6 diamond core holes drilled to date for a total of 963m
iii. 3 holes on one section south of pit all intersected lithium in lepidolite pegmatite dyke swarm, intersections include:
– BTDD005 - 11.3m @ 0.74% Li2O from 19.2m and BTDD006 - 10.7m @ 0.98% Li2O from 81.8m
iv. >800m trend open to north and south with potential extensions supported by Li2O in rocks and soils
• Additional target prospects
i. Additional targets in project area with documented lepidolite pegmatites proximal to historical alluvial and eluvial tin mining to be followed up
OUR PROJECTS
See Appendix for more information.
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Exploring a Better Future 22
PAN ASIA
1.7km WO3 Trend
Than Pho West
Prospect
RabbitProspect
T2Prospect
T2 NorthProspect
T1 NorthProspect
T1Prospect
Last Hill Prospect
Active Gypsum Mine Historic
Khao Soon Tungsten Mine
Than PhoRidge
Prospect
PAMCore Shed
TSPLA 1/2549
TSPL 1/2563
TSPL 2/2563
5.5km WO3 T
rend
3.0k
m W
O3 T
rend
OUR PROJECTS
Khao Soon Tungsten Project (Pan Asia Metals 100%)
• Historic Khao Soon Tungsten Mine estimated average grades of 2-4% WO3
• Over 10 individual prospects, combined prospective strike length ~10km
• Mineralised zones from surface with peer group leading drill intersections
• Drill supported Exploration Target, 15 - 29Mt @ 0.2% to 0.4% WO3
(The potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource)
• Strong drilling results broadly support Exploration Target model
See Appendix for more information.
Project points:
Licence Boundary IP Geophysics Lines Rail High Voltage Power Drill Holes
100ppm WO3 Soils Forest (req. cabinet approval) Historic KS Mine
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PAN ASIA
OUR PROJECTS
KSDD00
2
KSDD00
1
121.5m
40.6m
89m
�
�
�
�
67m
KSDD03
2
��
KSDD00
3
Khao Soon Tungsten Project - Than Pho West Prospect
Cross Section - CX 938425 looking northWO3 Drill Intersections: >=3,000ppm >=1,000ppm EleveatedWO3 in Soils: >=1,000ppm >=500ppm >100ppm | Breccia Zone
25m V&H
KSDD03
3
S I LT S T O N EQ U A R T Z
S A N DS T O N E
51.2m @ 0.50% inc. 12.8m at 1.07%
23.4m @ 0.58% inc. 13.4m at 0.75%
24.3m @ 0.24% inc. 4.9m at 0.37%
W O 3 R I C HB R E C C I A
Z O N E
34m
59.4m @ 0.43% inc. 22.1m at 0.70%
34m @ 0.63% inc. 19.4m at 0.98%
A
A
Khao Soon Tungsten Project - Than Pho West Prospect
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PAN ASIA
Khao Soon Tungsten Project (Pan Asia Metals 100%)Project highlights:
• Khao Soon mine production to 1979:
i. Historic production grades est. at 2-4% WO3
ii. In 1974 USGS personnel reported that the high grade material being mined has an estimated wolframite content of 20%
• To date 41 diamond core holes for a total of 3,514m
i. Drilling highly successful, discovering near surface intersections containing good tungsten grades over considerable widths.
• Drill supported Exploration Target (ET) 15-29Mt @ 0.2%-0.4% WO3 defined in accordance with the JORC Code (2012)
i. ET generated with information from drill holes KSDD001-022
ii. ET model supported by recent drilling (KSDD023-041, 1,602m)
• Hard rock tungsten (wolframite) mineralisation generally hosted in high grade breccia
• Extensive oxide hosted tungsten mineralisation:
i. Tungsten in thick profiles at/near surface
ii. Likely vectors to underlying hard rock WO3 mineralization
• Best intersections include:
i. KSDD001 – 51.5m @ 0.50% WO3 from 0m, incl. 12.8m @ 1.07% WO3 from 14.8m
ii. KSDD021 – 14.55m @ 0.47% WO3 from 0m, incl. 7.3m @ 0.62% WO3 from 0m
iii. KSDD024: 13.1m @ 0.51% WO3 from surface, incl. 4.6m @ 0.97% WO3 from 8.5m
OUR PROJECTS
Khao Soon drill supported Exploration Target
Prospect Tonnes (m) Grade (WO3%)
Than Pho West 4 – 8 0.2 - 0.4
Than Pho Ridge 1 – 2 0.2 - 0.4
Target 2 6 – 12 0.1 - 0.3
Rabbit 4 – 7 0.2 - 0.4
Total 15 - 29 0.2 - 0.4
See Appendix for more information.
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Why us?
• Decades of experience, including across the Southeast Asia region
• A deep understanding of the political environment and local government processes
• A proven ability to generate and act on project opportunities
• Established networks to help build the asset pipeline
• An exceptional in-country team of geologists, legal execs, community liaisons and accounting staff
• The respect of the local communities we operate in
MEET THE EXPLORERS
Introducing the people who understand Southeast Asia:the Board & Management at Pan Asia Metals.
Paul Lock - Chairman & Managing Director
• Paul has been focused on mineral resources in Southeast Asia since 2013
• Substantial experience in project finance, leveraged finance and corporate advisory
• Commodities trading experience with Marubeni and derivatives trading experience at Rothschild
David Hobby - Technical Director & Chief Geologist
• David is an Economic Geologist with 30+ years experience
• Worked in a variety of geological terrains across Asia, Australia, Argentina, USA and Africa
• Experienced in all facets of the minerals project cycle
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MEET THE EXPLORERS
Thanasak Chanyapoon - Non-Executive Director
• Thanasak is a Partner at The Capital Law Office, a leading Bangkok based legal practice
• NED of Cal-Comp Electronics in Thailand
• Well established in the Thai business community
Ian Mitchell - Non-Executive Director
• Ian has 30+ years as a Director and/or Company Secretary of listed and non-listed mining, exploration and industrial companies
• Legal expertise in commercial law, contract law and ASIC & ASX compliance
Roger Jackson - Non-Executive Director
• Roger has 25+ years as a Mine Operator, in minesServices and/or mineral exploration
• Maintained a geological and mining consulting business for the past 10 years
• Holds several executive roles
David Docherty - Non-Executive Director
• David’s involvement in the resource sector began in London, 1965
• Involvement in the Thai resource sector since 1987
• Managing Director of Mining Finance Corp in 1969
• Founding member of the team who discovered Chatree
Introducing the people who understand Southeast Asia:the Board & Management at Pan Asia Metals.
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CORPORATE SNAPSHOT i
Capital Structure
Market Cap ~$20.3M @ 16c/share
Cash (30 June 2021) ~$ 1.7Mii
Enterprise Value ~$18.6M
Shares on issue 126,593,992
Options / Warrants Nil
Convertible Notes Nil
Holding Analysis
Shares Number % of Holders
1 – 1,000 4 0.6%
1,001 – 5,000 112 16.6%
5,001 – 10,000 150 22.3%
10,001 – 100,000 319 47.3%
100,001 and over 89 13.2%
Total 594 100.0%
Key Shareholders
Paul Lock 42.1M 33.3%
Thai Goldfields NLiv 20.2M 16.0%
Holicarl Pty. Ltd. 7.0M 5.5%
Metal Tiger PLC 5.4M 4.4%
David Hobby 4.7M 3.7%
Board & Management 71.8M 56.8%
Board & Management
Holder % Holding
Paul Lock, Chairman and Managing Director 33.3%
David Hobby, Technical Director & Chief Geologist 3.7%
David Docherty, Non-Executive Director iii,iv 17.0%
Thanasak Chanyapoon, Non-Executive Director 2.6%
Ian Mitchell, Non-Executive Director 0.1%
Roger Jackson, Non-Executive Director 0.1%
i. Corporate statistics as at 26 August, 2021, unless otherwise stated. ii. Cash position as at 30 June, 2021 iii. David Docherty is Chairman and a substantial shareholder of Thai Goldfields NL iv. Pan Asia Metals Limited is obligated to pay Thai Goldfields NL (TGF) up to $4m upon first WO3 production at the Khao Soon Tungsten Project (see Note 13, Appendix, ‘Impotant Information’)
TO BE UPDATED BEFORE FINAL RELEASE
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Pan Asia Metals is the only lithium explorer in Southeast Asia.
• We have 2 lithium projects -- the Reung Kiet Lithium Project and the Bang Now Lithium Project -- which contain 3 prospects.
• They have returned robust Li2O grades and are in close proximity to the rapidly growing Asian EV and LIB markets.
• Our strategy is to generate a sufficient Ore Reserve to feed a 5,000-10,000tpa LCE plant with a minimum 10-year mine life.
We hold the potentially world-class Khao Soon Tungsten Project.
• Tungsten is the world’s number one critical raw material.
• China currently produces ~82% of global supply, and the industry is looking for supply diversification.
• Our Khao Soon Project contains 10 prospects, 4 of which have a combined drill supported Exploration Target of 15-29Mt at 0.2-0.4% WO3, further supported by more recent drilling.
Asia provides us with numerous geo-strategic advantages.
• We are strategically positioned between the advanced industrial centres of Thailand and Malaysia.
• Our assets and geography position us perfectly for Lower Capex and Lower Opex outcomes, amounting to lower production costs and lower carbon emissions.
• Our future lies in moving beyond the mine gate to supply specialty metals to the Asian markets.
We’re EXPLORING A BETTER FUTURE.
• We look for critical metals that are recyclable, converting them into new and sustainable energy types like Lithium batteries.
• Our activities will benefit the local community, from respecting their heritage and safeguarding their health, to supporting their sports teams and co-shaping their children’s education.
• Any impact we’ll have will always be offset by the goods we’ll help to produce, activities that will help local communities and production that will benefit the global society.
WHY INVEST?
TM
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We invite you to Explore A Better Future with us.exploreabetterfuture.com
TM
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Competitive Advantages APPENDIX
Lithium Fundamentals9
Supp
ly R
isk
Economic Importance
LREE (China 99% / 3% Rec*)
HREE (China 98% / 8% Rec*)
Antimony (China 74% / 28% Rec*)
Phosphorus (China 74%)
Magnesium (China 89% / 13% Rec*)
Tungsten (China 69% / 42% Rec*)
Bismuth (China 85%)
Niobium (Brazil 92%)
PGM (South Africa 84% / 21% Rec*)
Cobalt (DRCongo 59% / 22% Rec*)
Fluorspar (China 65%)
Natural Rubber (Thailand 33% / 1% Rec*)Phosphate Rock (China 48% / 17% Rec*)
Hafnium (France 49%)
Silicon Metal (China 66%)
Tantalum (DR Congo 33%)
Gallium (China 80%)
Vanadium (China 55% / 2% Rec*)
Germanium (China 80% / 2% Rec*)
Beryllium (US 88%)
Baryte(China 38% / 1% Rec*)
Scandium (China 66%)
Borate (Turkey 42%)
Natural Graphite(China 69% / 3% Rec*)
Indium (China 48%)
Titanium (China 45% / 19% Rec*)
* End of Life Recycling of EU Metal ConsumptionCoking Coal(China 55%)
Lithium (Chile 44%)
Bauxite (Australia 28%)
Strontium (Spain 31%)
3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 8.5 9.0
2
3
5
6
Proj
ect C
apit
al C
ost U
S$ m
illio
n)
Annual CapacityLCE (tpa)
0
750
600
450
300
150
0
10,000 20,000 30,000 50,00040,000
BrineHard Rock (ex Lepidolite)ClayLepidolite
Based on peer feasibility work lepidolite lithium projects have the potential to lead the peer group on the measure of capital expenditure per annual tonne of LCE + by-products as LCE
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Competitive Advantages APPENDIX
Tungsten Fundamentals10
Chemicals(8%)
Steels and Super Alloys(11%)
TungstenMetal (17%)
TungstenCarbides(64%)
Defence(6%)
Energy (5%)ConsumerDurables (8%)
Medical/ Other(12%)
IndustrialUses (14%) Mining and
Construction(23%)
Transport(32%)
TungstenEnd use
TungstenFirst use
Tungsten peer group Higher cost geography in red
USGS Global TungstnMine production (2020e)
China (82.5%)
Vietnam (5.1%)Russia (2.6%)
Mongolia (2.3%)Bolivia (1.7%)
Other (>6, 5.8%)
Resource (Million tonnes)
0 50 100
1.00
0.75
0.50
0.25
Reso
urce
Gra
de (W
O3
%)
Supp
ly R
isk
Economic Importance
LREE (China 99% / 3% Rec*)
HREE (China 98% / 8% Rec*)
Antimony (China 74% / 28% Rec*)
Phosphorus (China 74%)
Magnesium (China 89% / 13% Rec*)
Tungsten (China 69% / 42% Rec*)
Bismuth (China 85%)
Niobium (Brazil 92%)
PGM (South Africa 84% / 21% Rec*)
Cobalt (DRCongo 59% / 22% Rec*)
Fluorspar (China 65%)
Natural Rubber (Thailand 33% / 1% Rec*)Phosphate Rock (China 48% / 17% Rec*)
Hafnium (France 49%)
Silicon Metal (China 66%)
Tantalum (DR Congo 33%)
Gallium (China 80%)
Vanadium (China 55% / 2% Rec*)
Germanium (China 80% / 2% Rec*)
Beryllium (US 88%)
Baryte(China 38% / 1% Rec*)
Scandium (China 66%)
Borate (Turkey 42%)
Natural Graphite(China 69% / 3% Rec*)
Indium (China 48%)
Titanium (China 45% / 19% Rec*)
* End of Life Recycling of EU Metal Consumption
Coking Coal(China 55%)
Lithium (Chile 44%)
Bauxite (Australia 28%)
Strontium (Spain 31%)
3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 8.5 9.0
2
3
5
6
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Competitive Advantages APPENDIX
PAM is in a low cost environment11
Thailand is an extremely low cost environment:• The adjacent chart measures Australian underground mining costs on a A$ per tonne mined basis (blue diamonds)
• By comparison, the A$ equivalent mining costs for the KEMCO underground silver, lead, zinc mine Pre-feasibility Study in Thailand (green diamond) are considerably lower11
Savings throughout the cost structure:• Capital inputs supported by investment incentives
• Skilled and unskilled labour
• Energy, rentals and taxes
Uni
t Cos
t (A
$/t)
100
Annual Production (Mtpa)
200
300
50
150
250
0.50 1.00 1.50 2.00 2.50 3.00
350
Underground Hardrock ‘Mining Costs’ (2016, A$/t, Australian Mines)
KEMCO Underground Ag/Pb/Zn Mine PFS275ktpa @ US$29.4/t (~A$42/t)
0
20000
40000
60000
80000
100000
Sri L
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New
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Aus
tral
ia
Manager Salaries - Oceania (US$)
0
10000
20000
30000
40000
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stan
Bang
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sh
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e
New
Zea
land
Aus
tral
ia
Staff Salaries - Oceania (US$)
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Competitive Advantages APPENDIX
0
20
40
60
80
100
Cuba
Hai
tiN
icar
agua
Hon
dura
sD
omin
ican
Rep
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Cost
a Ri
caTr
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adPa
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mai
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kist
anKa
zakh
stan
Bang
lade
shSr
i Lan
kaA
zerb
aija
nIn
dia
Chi
naSo
uth
Kore
aTa
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g Ko
ngSi
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Russ
iaU
krai
neH
unga
ryRo
man
iaSl
ovak
iaPo
land
Bulg
aria
Cze
ch R
ep.
Syria
Iraq
Iran
Saud
i Ara
bia
Om
anKu
wai
tIs
rael
UA
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bya
Tuni
sia
Egyp
tA
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iaM
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exic
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PNG
Aus
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iaN
ew Z
eala
ndVe
nezu
ela
Ecua
dor
Arg
entin
aBo
livia
Braz
ilCo
lom
bia
Surin
ame
Guy
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Para
guay
Peru
Uru
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Chi
leM
yanm
arPh
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ines
Vie
tnam
Indo
nesi
aTh
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ndM
alay
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Japa
nZi
mba
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Cong
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dan
Nig
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Côte
d'Iv
oire
Zam
bia
Cong
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abon
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aCa
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fric
aG
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aIt
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Turk
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UK
Spai
nBe
lgiu
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rland
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Irela
ndSw
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Aus
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Nor
way
CentralAmerica
CentralAsia
EastAsia
EasternEurope
MiddleEastNorth America
OceaniaSouthAmerica
South EastAsia
Sub SaharanAfrica
WesternEurope
North Africa
70PRS Global Average: 70/100
ThailandMalaysia
PRS Risk Index and South East AsiaPolitical Risk Services Group, Inc.’s Global PRS Risk Index (October 2020)12:
• A measure of country risk calculated using 17 risk components
• Highest = Singapore 90/100; Average = 70/100; Lowest = Zimbabwe 36/100
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Bang Now Lithium Project (Pan Asia Metals 100%)
Project highlights:• Located in Chumporn Province:i. ~ 480km WSW of Bangkokii. ~140km North of the Reung Kiet Lithium Project• Within this area PAM has located historic mining activities with abundant tailings:i. Contains gravel to boulder sized lepidolite bearing pegmatite as well as quartz and meta-sediments. Pegmatite is visible in several old mine facesii. Rock-chip dataset now consists of 24 samples, 20 of which have grades >0.5% Li2O and range up to 3.38% Li2O, returning an average grade of 1.75% Li2O.• Location, history, dimensions, grades and data:i. License area of ~5km2ii. Large scale historic alluvial-eluvial tin mining in districtiii. Located in the prospective Ranong Fault Zone• Additional follow-up mapping and sampling planned to assist drill planning
2.4km
Historical Alluvial-Eluvial
Tin Mining
HistoricTin Mine
60km to Ranong37km to Ranong Airport(All weather access)
AEP
L 1/
2561
AEP
L 2/
2561
Licence Boundary All Weather Road Li2O Channel and Rock Chip Samples
Historical Alluvial-Eluvial Tin Mining
Our Projects APPENDIXF
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Minter Tungsten Project
Our Projects APPENDIX
Project highlights:• Situated in the Wagga-Omeo Tin Province: i. Central region of the Lachlan Fold Belt, NSW, Australia ii. Hundreds of Sn and/or W occurrences documented iii. Ardlethan, ~100km south, was a significant tin producer• Tin and tungsten mainly associated with granites of the Koetong Supersuite, which intrude metasediments: i. Mineralisation is in quartz veins, stockworks, pipes, greisens, breccia, aplites, pegmatite and carbonate replacement/skarn• The Exploration License is ~145km2”: i. Previous exploration has defined a belt of prospective zones hosted in quartz veins in metasediments near granite contact ii. ~10,000m of drilling yielding numerous low-mod grade WO3 intersections over a relatively large area including: - 28m @ 0.14% WO3 from 0m; 10m @ 0.18% WO3 from 0m - 27m @ 0.17% WO3 from 1.5m; 26m @ 0.16% WO3 from 2m - 24m @ 0.32% WO3 from 4m; 6m @ 0.54% WO3 from 16m iii. Recent work suggests that historical drill holes were not drilled in optimal direction to test the mineralisation• PAM’s planned work includes: i. Investigation of potential for blind systems above granite ii. Additional drilling will aim to delineate an Exploration Target and/or Inferred Resource
20km
Tren
d
Licence Boundary Sealed Roads Rail Tungsten Trend
100ppm WO3 Soil Anomaly / Historic Drilling
EL 8811
Lake Cargelligo
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Notes and References
1. https://www.statista.com/statistics/245501/multiple-mobile-device-ownership-worldwide/
2. https://www.shell.com/energy-and-innovation/the-energy-future/scenarios/shell-scenario-sky/could-society-reach-the-goals-of-the-paris-agreement/electric-cars-environment.html
3. JP Morgan Lithium Sector Deep Dive: Increasing demand, new supply sources & maturing supply chains JP Morgan, 25 February, 2021.
4. Modified from World Economic Forum, Global Battery Alliance: McKinsey analysis via Volt Resources Limited Investor Presentation, 7 April, 2021.
5. Modified from Vulcan Energy Resources Limited Corporate Presentation, 4 May, 2021, page 13. Individual statistics drawn from: 5a - Galaxy Resources Annual Report FY 2020, $502/dmt spodumene FY 2019; 5b - Kidman Resources PFS announcement, October 2018, contingency on Refinery OPEX of 15%. Cash operating cost including royalties; 5c - Orocobre 2020 Annual Report, Cash operating costs lithium carbonate; 5d - Orocobre 2020 Corporate Presentation, 28 August, 2020 – Naraha Lithium Hydroxide plant, Japan; 5e - Vulcan Energy Resources Pre-Feasibility Study, 15 january, 2021; 5f - Lepidico Limited Definitive Feasibility Study, 28 May 2020.
6. Data sourced from broker and company reports and presentations, PAM research. Peer group comprises primarily listed companies although may include privately held operations.
7. Data sourced from broker and company reports and presentations, PAM research. Peer group comprises primarily listed companies although may include privately held operations.
8. Data sourced from: i. The Observatory of Economic Complexity: https://oec.world/en/rankings/eci/hs6/hs96; ii. Thailand Board of Investment: https://www.boi.go.th/en/index/
9. Left hand chart: See: www.ec.europa.eu/growth/sectors/raw-materials/specific-interest/critical_en; Right hand chart: For each technical study in which it is stated that
revenue is being generated from by-products, the total value of those by-products have been converted to an LCE equivalent (in tonnes) using the following methodology: Step 1 - The by-product value is by-product tonnage multiplied by assumed market price for that by-product; Step 2 - Where a technical study is for the production of lithium hydroxide the volume of lithium hydroxide is converted to an LCE by dividing the tonnes produced by 0.88; Step 3 - The product of Step 1 is divided by the stated expected market price for lithium carbonate. The commodities and respective prices used in the calculation are: Li2CO3 (US$12,029\t); LiF (US$17,201\t); LiOH (US$13,669\t); Amorphous Silica (US$100\t); CHCsO2 (US$38,600\t); Feldspar (US$75\t); Gypsum (US$4\t); H3BO3 (US$ 710\t); K2SO4 (US$540\t); Mica US$50\t); Rb2SO4 (US$13,600\t); Sn (US$16,960\t); Quartz (US$100\t). Grades and metallurgical recovery of each ‘metal’ are taken into account by the technical study.
10. Left hand chart: See: www.ec.europa.eu/growth/sectors/raw-materials/specific-interest/critical_en; Right hand quad: Tungsten peer group data collected from company presentations, broker and analyst research reports, and PAM research. Higher cost countries are United States, Canada, Western Europe, Australia. Tungsten statistics sourced from USGS Tungsten Statistics and Information - Tungsten Annual Publications, 2021: See: https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-tungsten.pdf.
11. KEMCO Data sources from: www.metaltigerplc.com/news/1123-metal-tiger-plc-thailand-receipt-of-kemco-competent-person-report-final-draft-mineral-resource-estimate-valuation-update-2017-06-13-131100. Australian underground hard rock mining cost chart sourced from: www.amcconsultants.com/experience/trends-in-australian-underground-mining-costs/ [Accessed, 17 July, 2020.
12. Political Risk Services Group (PRS), PRS Risk Index, 15 October, 2020 (Chart prepared by Pan Asia Metals Limited).
13. Pan Asia Metals Limited will pay Thai Goldfields NL (TGF) a A$2m cash payment upon first WO3 production being achieved for a tungsten project on Special Prospecting Licence Application No. 1/2549 (TSPLA 1/2549) or its successor title over the historic Khao Soon Tungsten Mine and a A$2m cash payment upon first WO3 production being achieved for a project on any tenement abutting (TSPLA 1/2549) or any successor title. David Docherty is a Director of Pan Asia Metals and TGF.
IMPORTANT INFORMATIONF
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DisclaimerThis presentation has been prepared by Pan Asia Metals Limited, a Singapore based company with Reg. No. 201729187E (‘PAM’ or ‘Pan Asia’ or ‘Company’). This presentation has been prepared in good faith, as a summary only, and does not contain all information about Pan Asia’s assets and liabilities, financial position and performance, profits and losses, prospects, and the rights and liabilities attaching to Pan Asia’s securities. The securities issued by Pan Asia are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the shares or that there will be an increase in the value of the shares in the future. Pan Asia does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. Certain information in this document has been derived from third parties and although PAM has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Pan Asia. Recipients of this presentation should carefully consider whether the securities issued by Pan Asia are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. Investors should make and rely upon their own enquiries before deciding to acquire or deal in the Company’s securities.
Forward Looking StatementsVarious statements in this presentation constitute statements relating to intentions, future acts and events which are generally classified as “forward looking statements”. These forward looking statements are not guarantees or predictions of future performance and involve known and unknown risks, uncertainties and other important factors (many of which are beyond the Company’s control) that could cause those future acts, events and circumstances to differ materially from what is presented or implicitly portrayed in this presentation. For example, future reserves or resources or exploration targets described in this presentation may be based, in part, on market prices that may vary significantly from current levels. These variations may materially affect the timing or feasibility of particular developments. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. Pan Asia cautions security holders and prospective security holders to not place undue reliance on these forward-looking statements, which reflect the view of Pan Asia only as of the date of this presentation. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. Except as required by applicable regulations or by law, Pan Asia does not undertake any obligation to publicly update or review any forward-looking statements, whether as a result of new information or future events. Past performance cannot be relied on as a guide to future performance.
Competent Persons StatementThe information in this Public Report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr David Hobby, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Hobby is an employee, Director and Shareholder of Pan Asia Metals Limited. Mr Hobby has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hobby consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Khao Soon Tungsten Project JORC Exploration TargetAt its Khao Soon Tungsten Project PAM has generated a drill supported Exploration Target of 15-29 million tonnes grading 0.2-0.4% WO3 as defined under JORC Code (2012). Readers are advised that the, see Important Information, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Readers are advised to refer to the following previous ASX release for details on the Exploration Target: 08/10/2020 Technical Reports for PAM ProjectsThe Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.
ImportantTo the extent permitted by law, PAM and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of PAM and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.
Relevant ASX ReleasesReaders are advised to refer to the following ASX releases for details on other technical data reported in this presentation:
IMPORTANT INFORMATION
KHAO SOON TUNGSTEN PROJECT
8 Oct 2020: ‘PAM Projects – Technical Reports’
22 Oct 2020: ‘Khao Soon Tungsten Project Licence Update’
30 Oct 2020: ‘Khao Soon Tungsten Project - Drilling Update’
30 Nov 2020: ‘Khao Soon Tungsten Project Drilling Update’
23 Dec 2020: ‘Khao Soon Tungsten Project - Drilling Update’
15 Jan 2021: ‘Khao Soon Tungsten Project Drilling Update’
24 Feb 2021: ‘Strong Results from Khao Soon Tungsten Project’
29 Mar 2021: ‘Drilling Update- Khao Soon Tungsten Project’
28 Apr 2021: ‘Khao Soon Tungsten Project Drilling Update’
REUNG KIET LITHIUM PROJECT
8 Oct 2020: ‘PAM Projects – Technical Reports’
21 Oct 2020: ‘Positive Discussions regarding Reung Kiet Lithium Project with Phang Nga Provincial Government’
18 Jan 2021: ‘Drilling commences at Reung Kiet Lithium Project’
01 Feb 2021: ‘Reung Kiet Lithium Project - Drilling Update’
23 Mar 2021: ‘Drilling Update - Bang I Tum Lithium Prospect’
25 Mar 2021: ‘Drilling update - Reung Kiet Lithium Prospect’
3 May 2021: ‘Reung Kiet Lithium Project - Drilling Update’
29 Jun 2021: ‘Reung Kiet Drilling Update’
16 Aug 2021: ‘Reung Kiet Drilling Update’
OTHER PROJECTS
8 Oct 2020: ‘PAM Projects – Technical Reports’
02 Dec 2020: ‘Minter Tungsten Project - Drilling Program Approved’
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