Metro Mining : Managing Director Presents at ASX CEO Series

Investor Presentation

June 2017

1

Executive Summary

1

Positive Fundamentals, Simple & Compelling Project, Proven Team, Near Term Production & Excellent Investment

Bauxite fundamentals & strong price outlook given rising China seaborne demand

2

Simple DSO project well located in Cape York with low operating and logistics costs

3

Compelling economics confirmed by 2017 BFS

4

5

Off-take Agreement (Xinfa) & non-binding Letter of Intent (Lubei) for ~60% 4 years production Early works now underway

6

7

Strong financing capability with 2 supportive cornerstone shareholders, an increasing institutional investor base and strong interest from debt financiers

Excellent investment opportunity with first production scheduled for April 2018

2 | ASX : MMI | Investor Presentation | June 2017

Corporate Snapshot

Capital Structure
Share Price (15 -June-17)	$0.13
Shares on Issue	1,004.0m
Market Cap	$130M
Options Unlisted	11.7m
Cash (18-April-17)	$21.5M
Unsecured Debt (18-April-17)	$15.0M
Enterprise Value	$124M
Board of Directors
Chairman	Stephen Everett
Managing Director & CEO	Simon Finnis
Non-Executive Director	Philip Hennessy
Non-Executive Director	George Lloyd
Non-Executive Director	Lindsay Ward
Non-Executive Director	Mark Sawyer
Non-Executive Director	Dongping Wang
Non-Executive Director	Jijun Liu

Share Register

Other Shareholders

41%

20%

20%

Greenstone

Balanced Property

Australian Institutions

11%

8%

Dadi

Share Price & Volume - LTM

$0.18

$0.16

$0.14

$0.12

$0.10

$0.08

$0.06

$0.04

Mar-16 Jun-16 Sep-16 Dec-16 Mar-17

6.0m

5.0m

4.0m

3.0m

2.0m

1.0m

0.0m

3 | ASX : MMI | Investor Presentation | June 2017

Bauxite Hills Mine Snapshot

Project Overview

Key Statistics

Ownership:	Metro (100%)	Operational Overview	Construction	H2 2017
			First Production	April 2018
Location:	Cape York, Qld
			Start-up Production	~2Mtpa**
Commodity	Bauxite
			Steady State Production	~6Mtpa (year 4)**
Product Type	DSO
			Pre Production Capex	~$35.8m
Mine Type	Surface mining
Contained mineral: Reserves Resources	92.2Mt* 144.8Mt*		Expansion Capex	~$36.7m
			Costs (LOM Avg) Onsite: Incl Royalty:	$16.4/t $23.0/t
Status	BFS completed		Mine Life	17 years
* Refer to slide 25 **Metro confirms all material assumptions underpinning production target & corresponding financial information continue to apply & have not materially changed as per Listing Rule 5.19.2			Operations	Contract mining & transhipment
			Workforce	~185 personnel

4 | ASX : MMI | Investor Presentation | June 2017