Next Phase of the Firebird Growth Strategy
Released
Released
Announcement PDF
ASX ANNOUNCEMENT
1st September 2023
NEXT PHASE OF THE FIREBIRD GROWTH STRATEGY
Firebird Metals Limited (ASX: FRB, “Firebird” or “the Company”) is pleased to announce
an updated corporate strategy that is aiming to position the Company to supply directly into
the growing battery market.
Since listing in 2021, Firebird has delivered significant and rapid progress at its flagship
Oakover Project (“Oakover”) to mine and sell manganese and is now set to transition to the
next stage of strategic growth.
The specific strategy has been established to develop Firebird into a near-term producer of
battery-grade MnSO4 (high-purity manganese sulphate), which is a key cathode material in
LMFP (Lithium, Manganese, Iron and Phosphate) batteries for electric vehicles.
Importantly, 2023 is seen by many industry participants as the beginning of the new era of
batteries by commercialising LMFP.
Firebird has completed extensive research in China on the high-purity manganese sulphate
market and through multiple trips has developed relationships with several Chinese
manganese sulphate experts. Following this period of due-diligence, the Company is welladvanced on an in-house scoping study on assessing processing and location requirements
for a plant in China.
Execution of the LMFP growth strategy will place Firebird at the forefront of manganese
sulphate production to meet further downstream aspirations of becoming an cathode
producer and in a strong position to benefit from growing demand for LMFP.
Commenting on the Company’s next major growth push, Firebird Managing Director Peter
Allen said, “We are very pleased to reveal our plans for the Company’s next phase of major
growth. We have delivered strong progress on the ground at Oakover, which included the
production of battery grade manganese sulphate through metallurgical test work programs.
“We have been assessing the forecasted growth trajectory of LFMP batteries for several months
now and have developed the LMFP growth strategy, to ensure Firebird is positioned to benefit
from the growing demand of this new-generation battery. We have a vision of becoming a global
leader in the manganese industry by seamlessly combining mining and downstream processing,
with a profound dedication to the advancement of the battery sector. Execution of this strategy is
the next step in this pursuit.
“We have spent a lot of time doing our due diligence on the LMFP strategy, which has included
several trips to China to assess plant locations and meeting with potential team members. We
look forward to completing a Chinese sulphate scoping study and sharing our findings with our
shareholders in the coming months.
“LMFP demand is expected to explode over the next decade and delivery of this strategy will see
Firebird become a key producer, while we continue to develop our flagship Oakover Project into
Suite 20, 513 Hay Street
Subiaco WA 6008
ABN: 24 610 035 535
+61 8 6245 9818
admin@firebirdmetals.com.au
ASX:FRB
www.firebirdmetals.com.au
Western Australia’s next major manganese operation to further expand into the manganese
sulphate production.”
For further information contact:
Mr Peter Allen
Managing Director
+61 8 6245 9818
admin@firebirdmetals.com.au
Michael Weir / Cameron
Gilenko
Citadel-MAGNUS
0402 347 032 / 0466 984 953
About Firebird Metals Limited
Firebird Metals is a manganese developer focused on its advanced, 100% owned project
portfolio, located in the renowned East Pilbara manganese province of Western Australia. The
portfolio boasts a total Resource of 234Mt, with exciting exploration and development growth
upside.
The Company’s flagship Oakover Project holds a Mineral Resource Estimate of 176.7Mt at 10%
Mn, with 105.8Mt in an Indicated category. A Scoping Study completed by Firebird at Oakover
highlighted the outstanding long-term potential of the Project as a manganese operation. This
potential was further strengthened through production of >99.8% purity manganese sulphate
monohydrate crystal, which confirmed Oakover manganese ore can be processed into battery
grade HPMSM.
The Company’s other key Projects are Hill 616 and Wandanya which provide Firebird with
compelling growth opportunities.
Hill 616 contains an Inferred Mineral Resource of 57.5Mt @ 12.2% Mn and shares similar
geological traits to Oakover. Wandanya is a high-grade exploration opportunity, with Direct
Shipping Ore potential.
Importance of manganese within EV’s, due to its cost reduction abilities without reducing energy
density and range, along with growing demand for battery grade manganese sulphate, highlights
the critical need for projects like Oakover to become operational mines. With a limited number
of advanced ASX manganese developers, Firebird is in a strong position to develop Oakover and
supply a high-quality product into a growing and supply-constrained market.
The Company is committed to generating sustainable long-term value and growth for
stakeholders, through the implementation of best practice exploration methods while
prioritising the well-being, health and environmental protection of its employees and
communities it operates in.
Note:
For full details of the Oakover Mineral Resources estimate, please refer to Firebird’s ASX release dated 10th March
2022 and 23 March 2023 and For full details of the Hill 616 MRE refer ASX announcement dated 1/12/2021
Suite 20, 513 Hay Street
Subiaco WA 6008
ABN: 24 610 035 535
+61 8 6245 9818
admin@firebirdmetals.com.au
ASX:FRB
www.firebirdmetals.com.au
CORPORATE PRESENTATION
STRATEGY TO GROW INTO A GLOBAL
CATHODE PRODUCER
September 2023
ASX:FRB
DISCLAIMER
This presentation contains summary information about Firebird Metals Limited (Firebird) (ABN 24 610 035 535) and is current as of 1st September 2023. The information in this presentation is of
a general background and does not purport to be complete. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used
for the basis of making an investment decision.
The information contained in this presentation has been prepared without taking into account the objectives, financial situation or needs of individuals. Investors should obtain their own advice
before making any investment decision. Firebird has prepared this document based on information available to it at the time of preparation. No representation or warranty, express or implied,
is made as to the fairness, accuracy or completeness of the information, opinions and conclusions contained in this presentation.
This presentation contains certain “forward-looking statements”. Forward looking statements can generally be identified by the use of forward-looking words such as, “expect”, “should”, “could”,
“may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” and other similar expressions. Indications of, and guidance on, future earnings and financial position and performance are
also forward-looking statements. Forward- looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change
without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements including projections,
guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance
This presentation contains statements that are subject to risk factors associated with Firebird and the mining exploration industry. It is believed that the expectations reflected in these
statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially. Firebird disclaim any intent or obligation to publicly
update any forward-looking statements, whether as a result of new information, future events or results or otherwise. To the maximum extent permitted by law, Firebird, their related bodies
corporate (as that term is defined in the Corporations Act 2001 (Cth)) and the officers, directors, employees, advisers and agents of those entities do not accept any responsibility or liability
including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss arising from the use of the presentation or its contents or otherwise arising in
connection with it.
Firebird is not aware of any new information or data that materially affects the information included in its announcement dated 30 August 2023, and all material assumptions and technical
parameters underpinning the estimates continue to apply and have not materially changed.
JORC Compliance Statement
This announcement contains references to Exploration Results and Mineral Resource Estimates, which have been extracted from previous ASX announcements as referenced. For full details of
Exploration Results and Mineral Resource Estimates in this release that have been previously announced, refer to those announcements.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the said announcements, and in the case of estimates of
Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially
changed.
EMERGING MANGANESE DEVELOPER FOR ANB ELECTRIFIED WORLD
Well-defined vision and strategic
framework
Poised to capitalise on the
exponential surge in Li-ion and
Na-ion battery demand
Flagship Oakover Project
177Mt Resource, with 106Mt in an
Indicated Category
Updated Oakover DMS Manganese
Concentrate Scoping Study
~ 1.2Mtpa 30-32% Mn Conc
18-year Life-of-Mine
NPV: A$741.3 M
IRR: 73.1%
Oakover ore suitable to produce
battery-grade MnSO4
Primary objective to grow Firebird
into a globally operational, ESGcompliant and fully integrated
producer of manganese-based
cathode materials
For full details refer ASX announcement “Firebird Grows Oakover Indicated resource by 80% to 105.8Mt” dated 23/3/23
For full details refer ASX announcement “Game Changing Resource Upgrade at Oakover” dated 10/3/2023
For full details refer ASX announcement “Updated Oakover DMS Concentrate Scoping Study” dated 30/8/2023
For full details refer ASX announcement “Battery Grade Manganese Sulphate produced from Oakover” dated 30/1/23
Firebird team possesses extensive
manganese experience, along
with access to leading process and
production specialists, providing
the necessary platform to execute
Company’s vision
3
THE FIREBIRD VISION
FRB VISION
Become a global leader in the manganese industry by seamlessly combining mining and downstream processing, with a profound dedication
to the advancement of Li-ion & Na-ion battery sectors.
By harnessing the power of innovation and sustainability, Firebird aims to play a pivotal role in shaping the future of energy storage solutions
and significantly contributing to a more sustainable and electrified world.
BATTERY MINERALS
MINING
MnSO4 + Mn3O4 Production China Stage 1
China Stage 2
Cathode Producer
Australian Production PFS
Australian
Production
Oakover
Manganese
Concentrate
Other battery
grade project
development
opportunities
Continue to
increase Mn
Resource base
Rest of world
Production
GLOBAL CATHODE PRODUCER
4
MANGANESE (MN) AND ITS USES – RAPID GROWTH IN BATTERIES
Mineral Processing
Preference
Australia
Gabon
1.
Oxide ore
MnO2
2.
Carbonate ore
MnCO3
Brazil
China
Ghana
South Africa
Steel &
Stainless Steel
Traditional
Batteries
Manganese
Ore
AA Batteries
Rechargeable Batteries
Na-ion
Batteries
Batteries
Li-ion
Batteries
Semi
3. Carbonate ore
Other
industrial uses
LMFP
LNMO
LMO
NCM
Some facts about Mn
•
•
•
•
Seaborne priced in CIF (delivered port of discharge)
Priced in USD per DMTU (Dry Metric Tonne Unit) or 1%
High grade >40%, medium grade >30%
Roughly 60MT seaborne ore traded and China buys 30MT
Battery terms
EMD
EMM
HPMSM
Electrolytic Manganese Dioxide
Li-ion
Electrolytic Manganese Metal
Battery Grade Mn Sulphate & High
Purity MnSO4 & HPMSM means the
same
LMFP - Li Mn Fe PO4
NCM – Ni Co Mn
LMO - Li Mn O
LNMO - Li Ni Mn O
5
MANGANESE PROCESS FOR BATTERIES
Mn Concentrate Process
Mining
Crushing, Screening,
Scrubbing
DMS
Concentrate
Value add: MnSO4
Battery Grade
MnSO4 powder
Crystallisation
Purification
Leaching
Value add : Cathode material
Battery Grade
MnSO4
dissolution
Mix solutions
Or
Solid mixing
Drying and Roasting
CAM i.e. “LMFP”
6
GROWING IMPORTANCE OF
MANGANESE IN BATTERIES
MANGANESE USES IN BATTERIES
Traditional
Uses
Manganese
Lithium-ion
Batteries
• Manganese (Mn) has a long history of being a
cathode material for batteries in the form of
Electrolytic Manganese Dioxide (EMD) and in
its natural form
• Current production market sizes are 482kt in
China and 107kt for rest of the world
Manganese content (kg) in per battery in each vehicle above
Source: Benchmark Mineral Intelligence
• Mn is used Li-ion batteries, for example NCM,
LMO and LMFP
• Even though Mn content is not the highest in
LMFP, the size and growth of market is
potentially the largest in medium to long term
Indicative Metals Intensity By Battery Type
LFP
NCA
NCM 9½½
NCM 811
Mn
NCM 712
Na-ion
Batteries
Ni
NCM 622
• Na-ion batteries inherently have lower density
• Sodium batteries contains around 30% Mn
Co
NCM 523
Li
NCM 307
Research and advocates for manganese rich batteries is on
the rise, due to Manganese being abundant and relatively
inexpensive compared with nickel and cobalt. For
example, Tesla plans to have 2/3 of their batteries as
manganese based.
Emerging
Manganese
rich
Battery
configurations
Fe
NCM 217
P
NCM 111
LMFP
LMO
0
0.2
0.4
0.6
0.8
1
1.2
Source: Benchmark Mineral Intelligence and company research
1.4
8
LI-ION BATTERY – LITHIUM MANGANESE IRON PHOSPHATE (LMFP)
• There is no perfect Li-ion battery cathode mix: the three key considerations for
battery manufactures are Safety, Cost and Capacity
• Phosphate (LFP) based batteries are safer and cheaper to manufacture, whereas
Ternary batteries have more capacity, they are more expensive and not as safe as
Phosphate based batteries
LMFP is the finely balanced
battery cathode material
• LMFP is an upgrade from LFP by introducing manganese to replace iron
• Manganese enhances the voltage platform, increasing energy density
• Adding Mn increase capacity by 15-20%, nearing mid-range Ternary batteries
Safety
• Flexible, used on its own or mixed with Ternary batteries
• The rise of LMFP is imminent
• LFP battery capacity is reaching its theoretical energy density capacity
• Battery manufacturing technology limits the amount of cathode material to
be placed in cells
Capacity
Cost
• LMFP fits strategies of end users: cheaper, safer & provides strong range
• 2023 is seen by many industry participants as the beginning of the new era
of Li-ion batteries by commercialising LMFP
9
INCREASING USE OF LMFP
BY CAR MANUFACTURERS
Battery Manufacturers
LUXEED S7 (3rd quarter 2023 release) uses CATL M3P+TERNARY
Cathode Material Manufacturers
Tesla has stated plans
to have two thirds of
their batteries as
manganese based
New TESLA Model 3 uses CATL M3P
力泰锂
能
10
COMMERCIALISING OF
LMFP SETS A NEW ERA FOR
LI-ON BATTERIES
No. of LMFP patents registered per year
162
109
67
LMFP
ADVANTAGES
LFP
• Similar production
process
• Increase in energy
density by 15-20%
• Better performance in
low temperature
environment
TERNARY
• Policy makers in China
encourage more safer
batteries
• Olivine structure = safer
& more stable
• Cheaper cost by a large
margin
vs
LMFP
CHALLENGES &
ADVANCEMENTS
Dual Voltage System
✓ Right level of Mn/Fe mix
✓ Better mixing methods
Poor Conductivity
✓ Nanometerisation
✓ Carbon coating
✓ Metal doping
Effort in R&D
✓ Significant increase in
patents yoy
2
2
4
2011
2012
2013
9
11
13
2014
2015
2016
32
34
2017
2018
46
2019
2020
2021
2022
Cathode Comparison
LMFP
LFP
NCM
Structure
Olivine
Olivine
Layered
Capacity(mAh/g)
135-145
142-145
150-215
Voltage
3.2-3.9
3.2
3.7
2,000-2,500
4,000-10,000
1,000-3,000
Energy Density(Wh/kg)
160-240
150-210
200-320
Compacted Density(g/cm³)
2.3-2.4
2.2-2.6
3.4-3.7
Low Temperature Performance
Good
Poor
Better
High Temperature Performance
Better
Better
Average
Safety
Good
Good
Poor
Cost
Low
Low
High
Charging Cycling
Source: Soochow Securities 16-8-23
11
COMMERCIALISING OF LMFP SETS A NEW ERA FOR LI-ON BATTERIES
Potential Market
size?
•
IMnl estimates >3.1Mt
MnSO4 by 2040, a massive
increase considering in
2012, demand was 32kt
•
Existing capacity is 600kt
for both battery grade
and fertiliser manganese
sulphate
•
10-15Mt of LFP planned
and in production, if
converted to LMFP, it is
material to MnSO4
LMFP Demand Forecast (excluding current manganese use in batteries)
Unit
2023E
2024E
2025E
2026E
2027E
2028E
2029E
2030E
Global Demand in EV
GWh
879
1,183
1,626
2,152
2,739
3,385
4,106
4,853
LFP penetration rate
%
42%
45%
46%
46%
47%
47%
49%
50%
LFP Demand
GWh
373
531
750
998
1,279
1,607
1,993
2,419
Ternary Batteries penetration rate
%
58%
55%
54%
54%
53%
53%
51%
50%
Ternary Batteries Demand
GWh
506
652
876
1,155
1,460
1,778
2,113
2,434
Forecast LMFP to replace LFP
%
0.5%
6.5%
13.0%
20.0%
30.0%
40.0%
45.0%
50.0%
Forecast LMFP to mix with Ternary
%
0.2%
1.5%
3.0%
5.0%
7.0%
11.0%
13.0%
15.0%
Total LMFP Demand
%
0.4%
3.7%
7.5%
11.8%
17.5%
24.5%
28.2%
32.1%
GWh
4
46
127
262
491
846
1,180
1,584
Growth rate yoy
%
/
1157.8%
177.8%
106.5%
87.6%
72.1%
39.6%
34.2%
Equivalent MnSO4 required
kt
3
62
156
343
624
1,092
1,716
2,278
LMFP Batteries Demand
Source: Soochow Securities 16-8-23
12
COMMERCIALISING OF LMFP SETS A NEW ERA
FOR LI-ON BATTERIES
1,584GWh
LMFP Batteries Demand (GWh)
1600
1,180GWh
1400
1200
GWh
846GWh
1000
491GWh
800
262GWh
600
127GWh
400
200
0
4GWh
2023E
46GWh
2024E
2025E
2026E
2027E
2028E
2029E
2030E
Source: Soochow Securities 16-8-23
13
THE FIREBIRD LMFP PRODUCTION STRATEGY
THE FRB LMFP GROWTH STRATEGY
EXPERIENCED TECHNICAL TEAM & KEY DIFFERENTIAL QUALITIES
• Oakover ore suitable to produce battery-grade MnSO4
• Extensive research of Chinese MnSO4 market
• Access to Chinese manganese sulphate experts with >25 years MnSO4 experience
• In-house Scoping Study underway on Chinese process and location
• Timeline, potential tonnages and equipment requirements included in Chinese
Scoping Study
• We understand the Chinese market
• Environmentally friendly process in China - All tailings become input materials to
other industrial plants
• Use of Chinese technology to drive efficiencies
Oakover battery grade MnSO4
Execution of this strategy will place FRB in a strong position to benefit from the growing demand for LMFP
For Full details refer ASX announcement “ Battery Grade Manganese Sulphate produced from Oakover” dated 30/1/23
15
FIREBIRD PROJECT PORTFOLIO
MANGANESE RESOURCES SNAPSHOT
Significance of the Company’s flagship Oakover Project cannot be underestimated from the perspective of world
supply, with continued decline of worldwide Mn production grades and limited number of ASX manganese developers
GHANA (~6% of Seaborne Trade)
• Full carbonate ore
• Overall grade decreasing
• 27% Mn
• Production grown under Chinese ownership
GABON (~20% of Seaborne Trade)
• Oxide Ore
• Only county to significantly increase high grade (>40% Mn) ore
production
SOUTH AFRICA (~50% of Seaborne Trade)
• Semi Carbonate
• Overall grade decreasing
• Production mainly 35-37% Mn (semi-Carbonate ore)
• Grown from 18% in 2011 to 39% in 2022 of World (IMnI)
• However, plagued with logistics issues
• Semi Carbonate most suited to steel production
CHINA
• Mainly carbonate ore
• Combination of depleting resources and environmental
policies making mines unprofitable
• Overall grade decreasing
• Production decreasing
• Largest market for Mn ore
• Imports grow each year (currently ~30Mtpa)
AUSTRALIA (~16% of Seaborne Trade)
• Oxide ore
• Overall grade and production decreasing
• Several existing producers
• Some of existing mines approaching end of mine life and
processing tailings
17
PROJECT PORTFOLIO
OAKOVER (FLAGSHIP)
• Large resource with strong growth upside
• Near-surface, gently dipping geology and multiple processing options
• Metallurgical test work demonstrated saleable 30 - 32% Mn Concentrate product achievable
PORT HEDLAND
• Hydrometallurgy test work demonstrates Battery Grade MnSO4 achievable
1
3
• Concentrate DMS Scoping Study – 18-year mine life, 1.2Mtpa with low strip ratio and mining costs
• Concentrate DMS Scoping Study - Low CAPEX optionality
Mineral Resource
Classification
Tonnes (Mt)
Mn (%)
Fe (%)
SiO2 (%)
Indicated
105.78
10.1
8.9
39.2
9.8
0.10
Inferred
70.87
9.6
8.0
36.5
9.5
0.09
Total
176.65
9.9
8.6
38.1
9.7
0.10
HILL 616
2
Al2O3 (%) P (%)
• 35km south of Oakover
• 57.5 Mt @12.2% Mn Inferred Mineral Resource
• Similar geology to Oakover
NEWMAN
2
1
WANDANYA
3
• Exploration focused, high-grade, Direct Shipping Ore potential
• 50km southwest of world class Woodie Woodie Manganese Mine
PERTH
• Rock chip results up to 64.9% Mn and 55.2% Mn
For full details refer ASX announcement "Firebird grows Oakover Indicated Resource by 80% to 105.8 Million Tonnes" dated 23/3/2023
For fell details refer ASX announcement “ Game Changing Resource Upgrade at Oakover” Dated 10/3/2022
For full details refer ASX announcement "Hill 616 Maiden inferred Resources increases Mn 90%" dated 1/12/2021
For full details refer ASX announcement "High Grade Manganese Project Acquisition" dated 29/11/2022
18
CONCENTRATE SCOPING STUDY UPDATE – KEY RESULTS
•
Results confirm Oakover as long-life, high-quality operation, supported by an 18-year
LoM, A$741.3 M NPV and IRR of 73.1%
•
Updated Study followed 80% uplift in Indicated Resource at Oakover to 105.8Mt
•
Study assessed two production scenarios, both utilising simple processing, crush, screen,
scrub and Dense Media Separation (DMS) beneficiation:
•
•
Scenario one: Full production from start-up
•
~4Mtpa processing
•
~1.2Mtpa of 30% - 32% Manganese (Mn) concentrate
Scenario two: 2-Stage development with a low-cost capital start-up
•
~1.5Mtpa processing for first 3 years, then ramp up to ~4Mtpa processing for the following
17 years
•
Producing ~500ktpa for the first 3 years then ramping up to ~1.2Mtpa of 30 - 32% Mn
concentrate
•
FRB to pursue scenario one, due to highly attractive economics and Oakover commencing fullscale production from year-one
•
Mining & production profile
•
Low mine strip ratio of 0.45:1
•
Indicated material accounts for 99.2% of the material processed
For full details refer ASX announcement “ Updated Oakover DMS Concentrate Scoping Study” dated 30 August 2023 for full details
19
CONCENTRATE SCOPING STUDY UPDATE – KEY RESULTS
Production
CAPEX
NPV (Pre tax with
8% disc rate)
IRR (Pre tax)
Average EBITDA
(Pre tax)
Mine Life
Production 30% Mn
Conc dry tonnes
Scenario One
1.2Mtpa
$123 M
$741.3 M
74.80%
$85.60
18 years
22.26Mt
Scenario Two
0.5Mtpa Increasing to
Stage 1 $74.3M
1.2Mtpa
Stage 2 $61.20M
$598.90 M
50%
$76.3
20 years
22.26Mt
Indicative Time-Line
For full details refer ASX announcement “ Updated Oakover DMS Concentrate Scoping Study” dated 30 August 2023
Environmental survey
•
Base Line – Phase 1 Flora and Vegetation surveys
complete
•
Phase 2 will include second season flora and vegetation
terrestrial fauna surveys planned for coming months
•
Phase 1,2 and 3 sub terranean fauna surveys complete
•
Onsite surface and ground water investigations
planned for late 2023 / early 2024
20
RAPID AND SUCCESSFUL MINERAL RESOURCE DEVELOPMENT
Since listing in early 2021, FRB has rapidly grown and developed its project portfolio, with a key focus on Oakover
250
Dec 2021
Million Tonnes Resource
200
150
Aug 2021
Mar 2021
ASX listing,
Oakover Inferred
Mineral Resource
of 64 Mt at 10% 1
Maiden 233hole,10,000m RC
drill program
Maiden Inferred
Mineral
Resource at Hill
616 of 57.5Mt at
12.2%Mn2
Mar 2022
108 Mt uplift in
Mineral
Resource to 172
Mt at 9.9% Mn
Oct 2022
Completion of
Infill Drill
Program
Mar 2023
100
July 2022
Completion of Mn
conc Scoping Study –
confirm excellent
potential of Oakover
50
0
June 2023
Mining Lease
Application
INDICATED
RESOURCE
Notes
1. For Full Details refer ASX announcement "Prospectus" dated 16/3/2021
2. For Full details refer ASX announcement "Hill 616 Maiden inferred Resources increases Mn 90%" dated 1/12/2021
3. For full details refer ASX announcement "Game Changing Resource Upgrade at Oakover" dated 10/3/2022
4. For Full details refer ASX announcement "Firebird grows Oakover Indicated Resource by 80% to 105.8 Million Tonnes" dated 23/3/2023
Infill drill program
results lift Indicated
Resource by 80%
from 58.7 Mt to
105.8 Mt
FUTURE WORK
MINERAL
RESOURCE
Wandanya exploration –
DSO potential
21
ESG
Firebird’s ESG methodology plays a crucial role in our planning and business operations, including:
CORPORATE GOVERNANCE
SYSTEM
HUMAN RESOURCES
MANAGEMENT SYSTEM
SUPPORT FOR LOCAL
COMMUNITIES
OPERATIONAL
MANAGEMENT
Establishing a sound corporate
governance structure to ensure
transparency, accountability,
and compliance. This includes
effective board operations,
reasonable executive
compensation, information
disclosure, and risk
management.
Focusing on employee welfare,
training, development, and
diversity and inclusion.
Establishing fair employment
policies, measures to protect
labour rights, ensuring
employee health and safety,
and providing career
development and equal
opportunities.
Actively engaging with local
communities and taking
measures to protect the local
environment, promote social
welfare and economic
development. This includes
communication and
collaboration with local
residents and stakeholders,
involvement in community
projects, and corporate social
responsibility activities.
Paying attention to
environmental protection,
resource efficiency and carbon
emissions reduction. By
adopting sustainable
operational practices, such as
energy management, waste
management and
environmental monitoring,
Firebird aims to reduce the
consumption of natural
resources and minimise
environmental impact.
By integrating the ESG methodology into planning and business practices, Firebird strives to ensure sustainable
and responsible outcomes in terms of environment, society and corporate governance, while actively addressing
future challenges and opportunities.
22
CORPORATE SNAPSHOT
EVAN CRANSTON Chairperson
Mr Cranston is an experienced mining executive, with a background in corporate and
mining law
PETER ALLEN Managing Director
Mr Allen is a mining executive, with more than 20 years' experience in marketing of
manganese, lithium and a range of other commodities
WEI LI Finance Director
Mr Li is a Chartered Accountant with extensive experience in the resource industry. Mr Li
managed a private base metal exploration company in the Northern Territory and
assisted in commissioning a A$150 million Electrolytic Manganese Dioxide (EMD) plant
in Hunan China
ASHLEY PATTISON Non-executive Director
Mr Pattison has over 20 years’ experience in the resources sector from both a corporate
finance and operational perspective. Qualified as a chartered accountant, he has extensive
experience in operations, finance, strategy and corporate finance
BRETT GROSVENOR Non-executive Director
Mr Grosvenor is an experienced mining executive, with over 25 years’ experience in the
Mining and Power industry. Holding a dual tertiary qualification in Engineering and a
Master in Business
Firebird Metals Limited
ASX:FRB
Share price as of 30/8/2023
$0.135
Shares on issue
73.07 M
Market capitalisation
$10 M
Options @ $0.30
8M
Options @ $1
10 M
Performance rights
Cash on Hand
(30th June 2023)
3.3 M
$1.3 M
Major Shareholders
Tolga Kumova
8.4%
Mining Equities
4.9%
Board (incl related parties)
& management
7.6%
Top 20 shareholders
52%
23
PLATFORM SET TO BECOME A GLOBAL CATHODE PRODUCER
Dedicated to execution of the LMFP growth strategy which will place Firebird as a key cathode
producer and in a strong position to benefit from the growing demand for LMFP
Advanced in planning for potential site for processing plant in China and assembling a highlyexperienced in-country team of Manganese sulphate experts
Updated manganese concentrate Scoping Study results reinforce Oakover as long-life, high-quality
operation underpinned by an 18-year Life-of-Mine, A$741.3 M NPV and IRR of 74.8%
Growing use and demand for Manganese in batteries continue to rise. Due to the low number of
ASX-manganese developers and increasing use of LMFP by car manufacturers, Firebird is in a strong
position to benefit from this growing market
Led by an experienced and proven management and Board who have built companies that generate
significant shareholder returns
For full details refer ASX announcement “ Updated Oakover DMS Concentrate Scoping Study” dated 30 August 2023 for full details
24
SUMMARY – FIREBIRD VISION
BATTERY
MINERALS
Battery Grade MnSO4 +
Mn3O4 Production China
Stage 1
China Stage 2
Australian Production PFS
Australian
Production
Rest of world
Production
FRB VISION
Cathode
Producer
Worldwide
Cathode
Producer
Oakover Manganese
Concentrate
MINING
Other battery quality
projects development
Continue to increase Mn
resource base
25
THANK YOU
Suite 20, 513 Hay Street
Subiaco WA 6008
+61 (08) 6245 9818
www.firebirdmetals.com.au
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