Metro Mining : Managing Director Presents at RIU Sydney Resources Round-up

Investor Presentation

May 2017

1 ASX:MMI

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 3 4

Simple DSO project well located in Cape York with low operating and logistics costs Compelling economics confirmed by 2017 BFS

Off-take with Xinfa China's second largest bauxite importer for ~50% of production for first 4 years

5

Early works now underway

6

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

7

Excellent investment opportunity with first production scheduled for April 2018

2 ASX : MMI | Investor Presentation | May 2017

Corporate Snapshot

Share Register

Capital Structure
Share Price (04-May -17)	$0.13
Shares on Issue	1,004.0m
Market Cap	$130M
Options Unlisted	7.5m
Cash (18-April-17)	$21.5M
Unsecured Debt (18-April-17)	$15.0M
Enterprise Value	$124M

Other Shareholders

41%

20%

Greenstone

20%

Balanced Property

Australian Institutions

11%

8%

Dadi

Share Price & Volume - LTM

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

$0.18

$0.16

$0.14

$0.12

$0.10

$0.08

$0.06

6.0m

5.0m

4.0m

3.0m

2.0m

1.0m

$0.04

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

0.0m

3 ASX : MMI | Investor Presentation | May 2017

Bauxite Hills Mine Snapshot

Key Statistics
Project Overview	Ownership:	Metro (100%)
	Location:	Cape York, Qld
	Commodity	Bauxite
	Product Type	DSO
	Mine Type	Surface mining
	Contained mineral: Reserves Resources	92.2Mt* 144.8Mt*
	Status	BFS completed
Operational Overview	Construction	H2 2017
	First Production	April 2018
	Start-up Production	~2Mtpa**
	Steady State Production	~6Mtpa (year 4)**
	Pre Production Capex	~$35.8m
	Expansion Capex	~$36.7m
	Costs (LOM Avg) Onsite: Incl Royalty:	$16.4/t $23.0/t
	Mine Life	17 years
	Operations	Contract mining & transhipment
	Workforce	~185 personnel

Location

**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

4 ASX : MMI | Investor Presentation | May 2017 | *Refer slide 25 of this Presentation