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Hexa Resources Limited an Integrated Colombian Emeralds

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Hexa Resources Limited an Integrated Colombian Emeralds Creating the world’s leading integrated emerald company Hexa Resources Limited An Integrated Emerald business HEXA RESOURCES – JANUARY 2020 1 Building sustainable emerald supply to leading jewellery brands Exploration Cutting & Polishing • Closed 2 deals in • IEEX office & team in Coscuez, Colombia Bogota • In principle JV deal • Leading master cutter key Colombian mine • Sourcing rough and • Big resource growth cut stones in Bogota potential in Brazil. and the mine areas. Trading Production • “Plug and play” • Exclusivity on trading using IEEX leading Brazil mine global networks • Coscuez historical • Expected gross production. 2020 margin of 50% p.a. re-start. • First trades done. • Late stage pipeline 2 HEXA RESOURCES 2 Forward-looking statements • This presentation/invitation document is being sent to you on the basis that you are a certified high net worth individual (as that term is defined in article 48 (2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“FPO”). Accordingly, this presentation/invitation Document is exempt from the general restriction on the communication of invitations or inducements to engage in investment activity set out in section 21 of the Financial Services and Markets Act 2000 (“FSMA”). • No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This presentation includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this presentation, including without limitation statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Hexa Resources Limited (“Hexa”), are forward-looking statements that involve various risks and uncertainties. • There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Hexa expectations include, among others, risks related to mine and trading operations, the actual results of implementation of development/production plans, current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of emeralds. Although Hexa has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. • This presentation is private & confidential and is not for distribution. HEXA RESOURCES 3 Hexa Resources – Why Invest? Select growth opportunity in a $6.5Billion+p.a. wholesale market We are creating the world’s leading integrated emeralds company: ❑ Initial focus on Lat-Am emeralds. Widening to global coloured gemstones in medium term. A significant market with few leading brands. ❑ Exclusive deal as 40%+ lead investor in major Brazilian emerald mine, Piteiras. Large indicated resource and world class asset. Key co-investor KGK Group. ❑ Closed 2 deals for 3 exclusive working areas next to Coscuez - Colombia’s 3rd largest emerald mine. Prep / exploration work underway. ❑ Building a leading downstream cutting, polishing and trading business, with IEEX, an established Colombian-UK marketing and trading platform. ❑ Advanced deal pipeline (Colombia): exploration/including re-boot of historic Espanoles emerald mine. We have: ▪ Seasoned team (exploration, mining, emerald trading). ▪ Existing supply relationships with global jewellery distributors (via IEEX). ▪ 2020 forecast positive cash flow, EBIT US$5 Million, mining and trading income. ▪ Strong funding: US$1.4 Million raised + C$20 Million equity facility on listing. ▪ Well positioned vs. our market competitors – at significantly lower pricing. Museum quality rough emerald crystal from the La Pita mine, Colombia ▪ Committed to list on CSE in H1 2020. Late stage LOI with Canadian shell. HEXA RESOURCES 4 Our Strategic Path to Growth 2019/20 Exploration, Trading growth, Listing & Production: • Start listing prep work (shell, audit, tech review). ✓ • Start exploration Esmeraldas de Coscuez. ✓ • Closed EDL113 Coscuez South West licence deal. ✓ • C$20 Million equity facility closed in Q3. ✓ • Closing Piteiras “world class” asset (Brazil) (WIP) • Trading capital rise to US$1 Million by end Q1 20. 2018 • CSE listing targeted H1 20 Acquisitions, Exploration, Trading: • Finalise Espanoles / Colombian mine deal H1 20 • Start mine production – Piteiras end Q2 20 • Released the Dos Rios/Greenfield acquisition, low technical results ✓ • Finalised Esmeraldas de Coscuez acquisition ✓ • Start active emerald trading (prove-up trading margins). ✓ 2017 • Binding MOU on Piteiras Brazil mine. World class resource and mine. ✓ Business Development, Partnerships & Due Diligence: • MOU on La Pita mine ✓ Following Due Diligence released option, retaining small trading stake. ✓ • Strategic partnership with IEEX ✓ • MOU on Dos Rios exploration license ✓ • Shell identified for CSE Listing ✓ 5 HEXA RESOURCES 5 Creating Value – Target listing at 47% uplift to Round 2 post-money value Round Two (Q1 20) Round One (2018) Q4 2020: >US$50 Million (Forecast) Q1 2020: US$25 Million (List Value) - Increased Trading value - Advanced Exploration mid 2018: US$5 Million - Trading value - $6 Million (3 Coscuez licences/working areas) - Trading value - $3 Million - Exploration - $15 Million - Piteiras Mine value (Cashflow multiple) - Asset rights - $1.25 Million (3 Coscuez licences/work areas) - Other Cash (MOU rights on Dos Rios, c.1% share La Pita). - Piteiras Investment - $3 Million (at cost) HEXA VALUE HEXA - Other Cash - $0.5 Million - Other Cash - $1 Million (non trading) Post-money valuation - US$ 4 Million Post money valuation - US$17 Million MTC: est. US$350-450 Million PMV - #1 Colombian Emerald mine Fura Gems: US$30 Million Gemfields: US$169 Million - 500+ years of production TSX listed. Coscuez emerald mine Listed on JSX (de-listed AIM 2017 - Est 1-1.3 M Ct. emeralds p.a. in Colombia & African ruby at $237 M). No.1 ruby & emerald - Private Co. – plans to list 2020 MARKET exploration licences. producer, based in Africa. HEXA RESOURCES 6 Strong projected Income Growth Hexa Draft Financial Projections (US$Millions) 25.0 350 300 20.0 250 15.0 200 10.0 150 5.0 100 0.0 50 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 -5.0 0 EBITDA Hexa Valuation • EBITDA based on Piteiras mining operations, contribution from 2 Colombian smaller mines, plus trading income. • Strong rise in Piteiras income as production levels are doubled after approval from ANM. • Valuations based on forward looking EBITDA multiples. • Projected Hexa draft NPV10 value of US$80 Million. (Projections included are our best current estimate. There can be no assurance that such estimates and forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.) 7 HEXA RESOURCES 7 Comparison vs Listed Competitors Comparative Factor 3. FuraGems 2. Hexa Resources 1. GemFields (Emerald & Beryl) Mineral Resource (Mt) Inferred 3Mt Indicated 0.81 Mt* Measured & Indicated 3.23Mt* Grade (carat/t) 2 36.5*(Hexa cut old 43-101) 300 (Measured & Indicated)* 43-101 Inferred Resource Y - {2018} 6M ct Y - 30M ct* – Hexa reduced Y- Emerald & Beryl -968M ct* (4.6M ct equity share) (12M ct equity share) 968M ct equity share* Location Colombia, Mozambique Colombia, Brazil Mozambique, Zambia Gem stones / # Licences Emerald 1, Ruby 6, Sapphire 1 Emerald 4 Emerald 2, Ruby 1 Market Cap, NAV Listed – US$30M NAV – US$ 25M Listed - 169M EBITDA Actual/Projected ? (not projected) US$5M p.a.(projected 2020) Corporate +US$59M (2018) Emeralds- $9.7M (net loss) Est’ economic life (years) 30 30+ Low (as is loss making) Est’ emerald average price $200/ct US$50/ct (Work in progress) $4.56/ct (*incl low value beryl) Marketing Approach All production sold as rough Integrated trading model Integrated trading model (rough + cut) (rough + cut) HEXA RESOURCES 8 Board & Management Team BOARD: SENIOR TEAM AND ADVISORS: Chris Harris – Managing Director (FCA) Chartered Accountant. 31 years in energy, commodity trading and mining finance (Ernst & Sergio Aquino – Brazil director Young, CIBC, Enron UK, BHP Billiton, GMI Resources, Altamira Gold). Multiple principal 42 years of mining exploration and mine investments & director roles. development roles in gold and diamonds. Co-founder of Serabi Gold, and ex-Brazil Jon Coates – Technical Director head of Altamira Gold. 41 years in exploration, mine geology and development. Former Chief Geoscientist with BHP Billiton Exploration. Seven years resident in South America. Fluent Spanish speaker. Ron Ringsrud -Trading & Community advisor Over 31 years experience as Colombian Rory Dyer – Marketing Director emerald buyer. Founder of Clayhands, a leading charitable foundation in Muzo area Co-founder of IEEX, a pre-eminent Emerald exchange with a significant on-line and direct customer/buyer list. 7 years experience in-country and globally in the cutting and sales of Colombian emeralds. Worked prior as AIM broker and City-index management
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