Genesis Minerals Limited · ASX:GMD
Genesis Minerals — UBS Australasia Conference 2024
24 slides from Genesis Minerals's conference presentation, Nov 11, 2024
Slide 1: ACCELERATE: "ASPIRE 400"; The Trusted Australian Gold Miner
ACCELERATE “ASPIRE 400”; THE TRUSTED AUSTRALIAN GOLD MINER UBS AUSTRALASIA CONFERENCE, SYDNEY NOVEMBER 2024
Slide 2: Important information
Important information Not an Offer and Not Financial Product Advice This Presentation does not constitute or contain an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in Genesis. This Presentation may not be released to US wire services or dist
Slide 3: Corporate overview
Corporate overview Key metrics (ASX: GMD)1 Board Shares on issue 1,128m1 Non-Executive Chairman Tony Kiernan Managing Director Raleigh Finlayson Share price A$2.24 Non-Executive Director Michael Bowen Market capitalisation A$2.5b Non-Executive Director Gerry Kaczmarek Cash and bullion 30th September
Slide 4: One production centre in Western Australia
One production centre in Western Australia Simple and flexible - One production centre: Two mills - Ore flows west to Leonora 1.4Mtpa or east to Laverton 3.0Mtpa; Total 4.4Mtpa Baseload ore (Gwalia, Tower Hill) plus “top-ups” Progressive economics - Rising volume / falling costs / rising cas
Slide 5: BASE CASE 10-year plan
BASE CASE 10-year plan 3Moz production over 10 years More ounces and less cost, year-on-year: ► Group production and cost outlook1,2,3 ► High confidence - 91% in Reserves 400 A$2,200 - 2,400 $2,400 “ASPIRE 400*” 350 ► Fully funded - Operating cash 350 325 $2,000 flows, cash and bullion A$172m4 300 3
Slide 6: Growth in an ex-growth world
Growth in an ex-growth world Underpinned by large, high-grade Resources and Reserves, 100% Western Australian: Industry-leading production growth1 Industry-leading Reserves1 Industry-leading Resources1 Ora Banda Ora Banda 20% Ramelius Bubble size = Bellevue Bubble size = 1600 Reserve grade (g/t) 600
Slide 7: Accelerated organic growth strategy
Accelerated organic growth strategy First step - Hot start at Laverton: First gold, six months early - Brisk first month (October): It’s pouring gold at Laverton Ore milled 166kt (v 119kt forecast) Recovered gold 3.3koz (v 1.4koz forecast) On track to meet recently upgraded FY25 guidance of
Slide 8: Gwalia mine - "Quality > quantity"
Gwalia mine - “Quality > quantity” Prolific high-grade, long-life asset: ► 7.0g/t “Heart of Gold”…blended with 4.2g/t Mid-Levels ► Followed by Rowe Decline 4.4g/t GENESIS’ MAIDEN GWALIA UNDERGROUND ESTIMATES 4.0Moz (A$120m growth capital) RESOURCES1 / 1.1Moz RESERVES1 Mid-Levels ► Grade control dril
Slide 9: Ulysses mine - At one with Gwalia
Ulysses mine - At one with Gwalia Operational strategy unchanged from December 2022: ► Surplus equipment / people at Gwalia… Two becomes one e.g. Trucks reduced to 10 (from 14) Gwalia Ulysses full scale2 Combined e.g. Jumbo drills reduced to 2 (from 5) Annual mining rate Mtpa 0.7 - 0.8 0.6 - 0.7 1.3
Slide 10: Jupiter - Reliable baseload on the doorstep of the Laverton mill
Jupiter - Reliable baseload on the doorstep of the Laverton mill Infrastructure in place, low capital start up: ► Reserve has almost doubled based on: Jupiter long section Drilling success Lower cost GMS mining - 350t excavator and 190t truck fleet (same as Tower Hill) ► Sweeteners - Two high gr
Slide 11: Tower Hill development - One of a kind
Tower Hill development - One of a kind Grade, scale, simplicity: Reserve pit 1.0Moz ► Shallow, bulk mining opportunity with an (A$2,400/oz) industry-leading open pit grade - Just over 1km north of Gwalia ► Single open pit - Strike +1km, 4,000ozpvm ► 7-year mine life; 9 years of milling, ore haulage
Slide 12: Tower Hill development - One of a kind
Tower Hill development - One of a kind First ore FY28: FY25 FY26 FY27 FY28 Sep Q Dec Q Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q Dec H Jun H Dec H STAGE 1 OPEN PIT Design Complete Technical Studies & Assessments Complete Section 18 Approval Complete Clearing Permit Approval Submitted for Approval Aug '24
Slide 13: "ASPIRE 400" learning journey
“ASPIRE 400” learning journey +8Moz upside NOT included in 10-year plan1: First ounces: NOW 5 years 10 years Tower Hill Open Pit Resource (optimised pit at A$2,800/oz) 0.4Moz2 Tower Hill Underground Resource (drill tested to only 450m) 0.2Moz1 Westralia Resource (re-evaluation as a bulk open pit) 1.
Slide 14: Making Westralia great again
Making Westralia great again Re-evaluating Westralia as a bulk open pit mining opportunity: ► Significant +1Moz deposit just 15km from Laverton mill ► Continuously mineralised for more than 4km; Open to the north and at depth Long section - Multiple high grade ore shoots plunging to the south Cross
Slide 15: Making Westralia great again
Making Westralia great again Open pit Resource anticipated March 2025: Genesis: Previous: ► Mineralisation interpreted as a bulk package Opportunity ► Mineralisation interpreted selectively ► Open pit mining method Opportunity ► Underground mining method ► Low-cost Genesis Mining Services Opportunit
Slide 16: Up the sleeve
Up the sleeve Gwalia Free-milling option at Zoroastrian: ► Significant mineralised zone; Strike length >1km Zoroastrian isometric view ► Entrée Resource and Reserve positions… Mains to come ► Shovel-ready - Option to re-start development, noting 32m head start from previous owners ► 3.8g/t Reserve ~
Slide 17: Disciplined
Disciplined Key milestones: A$5,500 MODEST PRICE PROTECTION 1. Jun 2022 - Dacian ceases mining at Laverton ZCC Call option @ A$5,300 48koz 2. Sep 2022 - Genesis gains control of Dacian A$5,000 3. Mar 2023 - Laverton mill placed on care and maintenance 4. Jun 2023 - Genesis acquires St Barbara’s Leon
Slide 18: Capital allocation: Non-negotiables
Capital allocation Progressive: PRIORITIES Now… …“ASPIRE 400” Robust balance sheet ASPIRE “THIRDS” Growth projects NON-NEGOTIABLES Near-mine exploration Community contributions Dividends 1/3 TO GROWTH Buybacks / additional dividends EXCESS CASH FLOW 1/3 TO SHAREHOLDERS Social projects 1/3 TO BALANCE
Slide 19: Ready set grow
Ready set grow ► We are an aspirational Australian gold house, 100% focused on Leonora / Laverton ► We are targeting sustainable, high-quality production and earnings growth ► We play the “long game”: Enviable gold inventory Strategic management team Future-proofing through the gold price cycl
Slide 20: APPENDIX A - Plan on a page ASPIRE
APPENDIX A - Plan on a page ASPIRE VISION AND PEOPLE PRODUCTION LOWER M&A VALUES FIRST GROWTH COSTS “The trusted Australian We mine safely - Protecting Relentless focus on Declining all-in sustaining Discipline first - Track record gold miner - Progressive, our people, our environment, operational e
Slide 21: APPENDIX B - Resources and Reserves
APPENDIX B - Resources and Reserves* 2024 Mineral Resource Estimate by Area 2024 Ore Reserve Estimate by Area Measured Indicated Inferred Total Proved Probable Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade O
Slide 22: APPENDIX C - Peer data
APPENDIX C - Peer data Production CAGR metrics FY24A FY25E FY26E FY27E FY28E FY29E Newmont NEM 6317 6659 6708 6831 7050 6962 ASX100 Northern Star NST 1645 1731 1913 2063 2134 2128 ASX100 Evolution EVN 717 746 743 796 805 783 ASX100 Capricorn CMM 113 114 119 172 304 304 Peers - 100% WA Genesis (Five-
Slide 23: APPENDIX D - Gold price protection at 11th November 2024
APPENDIX D - Gold price protection at 11th November 2024 Forward sales: Zero cost collars: Put options*: Quarter oz A$/oz Put strike Call strike Put strike Quarter oz Quarter oz A$/oz A$/oz A$/oz Dec 2024 4,500 3,611 Mar 2025 12,000 3,700 5,300 Sep 2025 18,000 3,700 Mar 2025 4,500 3,649 Jun 2025 12,
Slide 24: Contact Details: Troy Irvin, Corporate Development Officer
Contact Details: Troy Irvin Corporate Development Officer phone: +61 8 6323 9050 email: investorrelations@genesisminerals.com.au www.genesisminerals.com.au