Pivotal Metals Limited · ASX:PVT
Pivotal Metals — Investor Presentation (September 2024)
28 slides from Pivotal Metals's investor presentation, Sep 19, 2024
Slide 1: Investor Presentation September 2024
For personal use only PIVOTAL METALS LTD BUILDING A COPPER Investor Presentation BUSINESS IN THE WORLDS BEST MINING ASX:PVT JURISDICTION September 2024
Slide 2: Disclaimers
Disclaimers For personal use only The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe
Slide 3: Investment Highlights
Investment Highlights For personal use only High Quality Assets Copper Focus Horden Lake Universally bullish outlook for Copper Advanced Cu-Ni-PGM deposit Demand case is very robust. Big questions on supply. Open, with substantial exploration upside Lack of credible advanced projects on ASX BAGB Cri
Slide 4: Project Highlights
Project Highlights Quality base with exciting exploration leverage For personal use only Horden Lake 100% PVT James Large metal endowment. Over 400kt CuEq / 200kt Cu1. Bay Robust grade 28mt at 1.5% CuEq, incl. pit constrained 17mt @ 1.38% CuEq1 Low risk exploration upside. Tonnes and grade being cur
Slide 5: Quebec – Premier Mining Jurisdiction
Quebec – Premier Mining Jurisdiction With tangible investment incentives For personal use only ‘Flow-through scheme’ tax incentives Quebec has the highest tax credit in Canada for critical metals exploration Up to 2x leverage on money raised, without structural overhang Access to low-cost renewable
Slide 6: Copper: Strong supply / demand fundamentals
Copper Strong supply / demand fundamentals set For personal use only Copper demand growth remains strong Project discovery at all-time lows Shifts to electrification builds on huge industrial demand case Geological return on exploration spend is at all-time lows from developing world Unknown supply
Slide 7: Horden Lake
For personal use only Horden Lake • Advanced Cu-Ni-PGM Project • Already 28Mt @ 1.5% CuEq • Substantial Exploration Upside The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and that all material assumptions
Slide 8: Horden Lake: Asset of scale with upside being unlocked
Horden Lake Asset of scale with upside being unlocked For personal use only 27.8 mt @ 1.49 % CuEq ✓ 414kt contained CuEq ✓ Cu 0.73%, Ni 0.22%, 0.19 g/t Pd, 0.08 g/t Au ✓ 55% indicated category ✓ 17.4mt @ 1.38% CuEq in open pit shell ✓ Starts at surface. Open at depth & along strike Upside is Being D
Slide 9: Horden Lake is OPEN
Horden Lake is OPEN Drilling and downhole testing open extensions 55m @ 0.56% CuEq (5m) 20m @ 0.47% CuEq (40m) For personal use only H26820, 0.26% Cu, 0.12% Ni H26866, 0.1% Cu, 0.14% Ni Inc 9m @ 0.96% CuEq (39m) Inc 2m @ 1.8% CuEq (35m) 400m along strike 180m along strike Immediate Exploration Focus
Slide 10: Step-outs and DHEM are delivering
Step-outs and DHEM are delivering Substantial exploration upside defined For personal use only Step-out drilling shows continuity and in places thickening of the deposit Clear extensions of economic grade and strong resource upside potential Refer ASX announcement, 19 September 2024 10
Slide 11: Step-outs and DHEM are delivering
Step-outs and DHEM are delivering Substantial exploration upside defined For personal use only Northern step-put drilling shows potential to join the open pits DHEM lays out substantial upside Large conductor outside the resource envelope Large plates skewed to depth 20m @ 0.88% CuEq from 145m Incl.
Slide 12: Regional Potential
Regional Potential To make additional discoveries For personal use only Magnetics demonstrate scale opportunity ✓ Clear extensions along strike ✓ Clear repeating of structure to the west ✓ No, or limited / misplaced, drilling of the key areas for regional growth Pivotal drilled first hole ever into
Slide 13: Along Strike: Extension already confirmed
Along Strike Extension already confirmed For personal use only Drilling shows the deposit extends to the SW ✓ 23.7m @ 1.24% CuEq from 33.4m ✓ Last historic hole drilled on the property ✓ Clear repeating of structure to the west Majority of earlier drilling likely missed the plunge ✓ Modern detail ma
Slide 14: Grade Upside
Grade Upside Confirmed in all holes as valuable potential byproducts For personal use only Infill delivering missing data for metal upside ✓ Cu and Ni only in historical focus ✓ Proven Au, Pt, Pd, Co, Ag in central zone 37.5m @ 1.31% CuEq from 50m By-products: 0.3 g/t 3PGE, 180ppm Co, 7.2g/t Ag ✓ On
Slide 15: Development Considerations
Development Considerations Conventional project with realistic development hurdles For personal use only 62% of resource is pit constrained Paved highway within 10km ✓ Low-cost open pit front-end starter ✓ Reduces development capex Favourable Deposit Geometry Access to the Quebec hydro network ✓ Ame
Slide 16: Valuation Opportunity
Valuation Opportunity When compared to ASX peers on a $EV per contained CuEq basis For personal use only 800 Resource kt CuEq contained Trading Multiple: EV $/t CuEq 200 600 (columns) (dots) 400 100 200 0 0 735,294,118 910,526,316 703,846,154 417,741,935 172,054,795 117,173,913 1,017,500,000 Souther
Slide 17: Case Study: Foran Mining
Case Study: Foran Mining Extreme Leverage to the Cycle For personal use only 57x Peak-to-Trough C$/share Equity Return US$/lb Cu C$0.08/sh C$4.57/sh $5.00 C$10.5m C$1.4B 5.00 Foran (TSX:FOM) Cu Price 4.50 $4.00 4.00 $3.00 3.50 $2.00 3.00 $1.00 2.50 $- 2.00 31/12/2018 31/12/2019 31/12/2020 31/12/2021
Slide 18: BAGB
For personal use only BAGB • Belleterre-Angliers Greenstone Belt • Exploration stage • Advanced prospects • Targeting Anomalies of scale LORRAINE 18
Slide 19: BAGB: Ultra high-grade mineralisation defined
BAGB Ultra high-grade mineralisation defined For personal use only • 157km2 land package covering a prospective suite of gabbroic intrusives in southern Quebec • Ultra-high grades drilled by previous operators. Historical mining of some deposits • BUT, previous operators kept targeting the same high
Slide 20: BAGB: Midrim and Alotta
BAGB Midrim and Alotta – smoke from a very a big fire? For personal use only Alotta 9.2m @ 2.6% Ni, 2.8% Cu, 3.6 g/t 3E from 85.2m in ZA-18-08 Midrim 4.3m @ 6.5% Ni, 5.2% Cu, 7.2g/t 3E from 57.2m in MR-00-05 9.4m @ 3.5% Ni, 4.3% Cu, 4.6 g/t 3E from 56.6m in MR-17-01 • Mafic contact deposit model • E
Slide 21: Consistent News-flow
Consistent News-flow To continue through 2024 and beyond For personal use only Building Resources • Final holes released through Q3 24 • Resource update in Q4 24 0-6 • Step-out results building tonnes months • Infill building grade and increasing confidence Expanding Footprint • Downhole EM delineat
Slide 22: Investment Highlights
Investment Highlights For personal use only Copper Value is Exploration Premier Near term leverage underpinned leverage jurisdiction re-rate catalysts Clear deficits Large Cu and Ni Clear path to Quebec is skills and Met testwork, forecast, driven by endowment in improve and grow infrastructure rich
Slide 23: Appendix
For personal use only Appendix
Slide 24: Appendix - Corporate Overview
Appendix - Corporate Overview Committed board, management and shareholders For personal use only Position Name Expertise Non-Exec Chair Simon Gray Corporate and Commercial Lawyer, Corporate Governance, Capital Markets Managing Director Ivan Fairhall Mechanical Engineer, Private Equity, Mining Execut
Slide 25: Appendix - Geological Setting
Appendix - Geological Setting Strong structural control for mineralisation For personal use only ✓ Mineralisation style supports good potential for resource extension ✓ Magmatic sulphide deposit associated with mafic and ultramafic rocks ✓ Mineralisation occurs along the contact of the gabbroic comp
Slide 26: 2022 JORC Compliant Mineral Resource Estimate
Appendix 2022 JORC Compliant Minerals Resource Estimate For personal use only Grade Contained Metal Category Tonnes CuEq (%) Cu (%) Ni (%) Au (g/t) Pd (g/t) CuEq (kt) Cu (kt) Ni (kt) Au (koz) Pd (koz) Indicated 15.2 1.50 0.77 0.20 0.13 0.19 228.6 117.6 30.5 59.4 91.3 Inferred 12.5 1.47 0.67 0.25 0.0
Slide 27: Comparable supporting information
Appendix Comparable supporting information For personal use only Name (ASX ticker) Resource M&I (mt) Inferred (mt) CuEq Calc Announcement (date) SOUTHERN HEMISPHERE 149 @ 0.29% Cu, 0.12g/t Au, 20 @ 0.2% Cu, 0.19g/t Au, 0.005% Llahuin Cu% + Au(g/t)*0.77 + Mo%*3.91 https://announcements.asx.com.au/asx
Slide 28: Pivotal Metals Limited
For personal use only Pivotal Metals Limited ABN 49 623 130 987 Level 8, 1 Eagle Street Brisbane QLD 4000 GPO Box 2517 WA 6831 T: +61 8 9481 0389 E: info@pivotalmetals.com W: www.pivotalmetals.com 28
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