Oakover Project

Oakover is located 85km East of Newman in the East Pilbara Manganese province of Western Australia. The Project boasts an MRE of 176.65 Mt at 9.9% Mn and an Indicated Resource of 105.8 Mt at 10.1%.

Firebird’s commitment to the production of manganese concentrate and high purity manganese sulphate from Oakover has seen the delivery of >99.8% purity manganese sulphate monohydrate (HPMSM) crystal which meets stringent battery grade specification. The HPMSM crystals contained >32% Mn and can be used in a commercial capacity in the production of manganese sulphate batteries.

The Company lodged its MLA with DMIRS in June 2023 and completed an updated Manganese Concentrate Scoping Study in August 2023, with results confirming Oakover as long-life, tier-one manganese operation. The Board assessed two production scenarios in the Study, both utilising DMS beneficiation, to determine the most efficient and profitable path forward at Oakover.

Importantly, results from the Study have set a strong platform for the Company to successfully deliver on its vision to become a global leader in the manganese industry, combining mining and downstream processing with a dedication to the advancement of Li-ion battery sector.

Following assessment of both scenarios, the Firebird Board agreed to progress with scenario one, which will see full-scale production commence from year-one. Key results included:

18-year Life of Mine
Approximate A$741.3 M NPV at a discount rate of 8%
Impressive IRR of 73.1%, with pay back in 16 months
~4Mt annual processing, ~1.2 Mt of 30-32 % Manganese (Mn) concentrate annually
Capex estimated of A$123 million
Low mine strip ratio of 0.45:1
Indicated material accounts for 99.2% of the material processed

Oakover Mineral Resource Classification

Mineral Resource Classification	Tonnes (Mt)	Mn (%)	Fe (%)	SiO2 (%)	AI2O3 (%)	P (%)
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

Source: Please refer to ASX announcement dated 23/3/23 and 10/3/2022

Rapid & Successful Mineral Resource Development

Since listing in early 2021, FRB has rapidly grown and developed its project portfolio, with a key focus on Oakover

Source: Please refer to ASX announcement dated 23/3/23, 10/3/2022 and 1/12/2021

Oakover DSO processing plant video

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Oakover Project

Oakover is located 85km East of Newman in the East Pilbara Manganese province of Western Australia. The Project boasts an MRE of 176.65 Mt at 9.9% Mn and an Indicated Resource of 105.8 Mt at 10.1%.

Oakover Mineral Resource Classification

Rapid & Successful Mineral Resource Development

Oakover DSO processing plant video

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