SolGold PLC · AQUISUK:SOLGL
SolGold — Investor Presentation (February 2024)
30 slides from SolGold's investor presentation, February 2024
Slide 1: Cascabel: A Tier-One Copper-Gold Development Project
CASCABEL: A TIER-ONE COPPER-GOLD DEVELOPMENT PROJECT 3.7 12.4 31.3 Bt Ore1 Mt Cu1 Moz Au1 Corporate Presentation FEBRUARY 2024 LSE & TSX: SOLG LSE & TSX: SOLG
Slide 2: Cautionary Notice
CAUTIONARY NOTICE Forward-looking statements involve known and unknown risks, uncertainties and other factors which may The Company recognises that the term World Class is subjective and for the purpose of the Company’s cause the actual results, performance or achievements of SolGold and/or its subs
Slide 3: Uniquely Compelling Investment Opportunity
AAGENDA UNIQUELY COMPELLING INVESTMENT OPPORTUNITY World-Class Resource with Potential for Further Discovery Cascabel is currently one of the world’s largest copper and gold deposits not controlled by a major Foothold on vast, unexplored regions of the Andean copper belt and a proven team with s
Slide 4: Cascabel Updated Resources
AGENDA CASCABEL UPDATED RESOURCES1 GLOBAL RESOURCE AT CASCABEL SHOWS SIGNIFICANT GROWTH IN UPDATED RESOURCE ESTIMATES Global Measured and Indicated Resources at Cascabel (Alpala and TAM) RESOURCE Tonnage Copper Gold Updated Resource Estimate 3,735 Mt 12.4 Mt 31.3 Moz Previous Resource Estimate 3,192
Slide 5: Cascabel Updated Reserves
AGENDA CASCABEL UPDATED RESERVES1 Mining Schedule and Ore Classification 30.0 25.0 Proven (Mt) Probable (Mt) 20.0 Toones Mined (Mt) 15.0 10.0 5.0 0.0 -4 -3 -2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Mining Schedule by Year 96% of the Ore Mined in the first 15 ye
Slide 6: Alpala: Resources & Reserves
AGENDA ALPALA: RESOURCES & RESERVES Alpala Mineral Resource Statement (Effective Date of November 11, 2023)1 Grade Contained Metal Mineral Cut-off Resource grade Mt CuEq Cu Au Ag CuEq Cu Au Ag category (%) (%) (g/t) (g/t) (Mt) (Mt) (Moz) (Moz) Measured 1,576 0.64 0.43 0.35 1.16 10.0 6.7 17.5 58.6 RE
Slide 7: Tandayama-America
AGENDA TANDAYAMA-AMERICA Tandayma-America Mineral Resource Statement (Effective Date of November 11, 2023)1 Cut-off Grade Contained Metal OPPORTUNITY TO Resource Tonnage Potential Mining Method Grade Category (Mt) Cu Au CuEq Cu Au CuEq GENERATE CASH (CuEq %) (%) (g/t) (%) (Mt) (Moz) (Mt) FLOW FROM O
Slide 8: World Class Resource & Tier-1 Development Project with Resource Expansion Potential
WORLD CLASS RESOURCE & TIER-1 DEVELOPMENT PROJECT AGENDA WITH RESOURCE EXPANSION POTENTIAL Cascabel is the largest undeveloped copper resource in Latin America not controlled by a major1 Stage PFS Resource Resource PFS PEA PEA PEA Resource PFS PEA PEA Resource Location 25.0 18.2 Copper (Mt Cu) M&I R
Slide 9: Updated Prefeasibility Study: Phased Start-Up Approach
UPDATED PREFEASIBILITY STUDY: PHASED START-UP APPROACH Key Advantages of High-Grade Phased Approach1 Lower Upfront Higher Internal Faster Timeline Increased Capital Rate of Return to Production After-tax NPV 24% US$1.55 bn 24% 4 Year US$3.2bn Initial After-Tax Development NPV8% Captial IRR Schedule
Slide 10: Cascabel is a Tier 1 Project
2024 PFS Phased Approach Key Parameters1 Base Case AGENDA CASCABEL IS A Initial Project Life & Throughput 28 years @ 12 Mtpa—24 Mtpa TIER 1 PROJECT… Total Ore Mined 540 MT (18% of Total Resource) Price Deck: Copper ($/lb) / Gold ($/oz) / Silver ($/oz) $3.85 / $1,750 / $22.50 Capital: Pre-Production
Slide 11: Capital & Operating Costs
AGENDA CAPITAL & OPERATING COSTS1 Capital Pre-production $1.55bn Post-production $2.57bn Operating Costs Mining Costs $6.2 ($/t processed) Processing Costs $7.4 G&A Costs $1.0 Tailings, Port and Infrastructure Costs $0.7 Total Operating Costs $15.3 WORLD-CLASS COPPER-GOLD PROJECT /11
Slide 12: 2024 Pre-Feasibility Study: Payable Production Profile
AGENDA 2024 PRE-FEASIBILITY STUDY: PAYABLE PRODUCTION PROFILE (CU EQ.)1 400,000 2.0% 300,000 1.5% CU EQ. PRODUCTION (T) CU EQ. GRADE (%) 200,000 1.0% 100,000 0.5% 0 0.0% Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13 Y14 Y15 Y16 Y17 Y18 Y19 Y20 Y21 Y22 Y23 Y24 Y25 Y26 Y27 Y28 Payable Copper Payable Gold
Slide 13: 2024 Phased Approach PFS: Site Plan
2024 PHASED APPROACH PFS: SITE PLAN WORLD-CLASS COPPER-GOLD PROJECT /13
Slide 14: 2024 Phased Approach PFS: Block Cave
2024 PHASED APPROACH PFS: BLOCK CAVE The mine will be accessed using dual decline from the surface. One decline will be used for the conveyor system, and the other decline will be used for equipment and logistics. The declines will daylight to surface at a portal near the mill site. WORLD-CLASS COPP
Slide 15: 2024 Phased Approach PFS: Simplified Process Flowsheet
2024 PHASED APPROACH PFS: SIMPLIFIED PROCESS FLOWSHEET Ore will be reclaimed from the coarse ore stockpile and conveyed to a conventional semi-autogenous grinding ball mill crusher (“SABC”) circuit. Slurry from the ball mill will be pumped to the flotation circuit. Concentrate will be floated,
Slide 16: Advantageous Location Accessing Existing Infrastructure
ADVANTAGEOUS LOCATION ACCESSING EXISTING INFRASTRUCTURE Road Power ~3-hour drive from Quito on Hydropower network (20km away) multi-lane highways Port Water Esmeraldas port (180km) Self-contained Logistic advantages = CAPEX savings WORLD-CLASS COPPER-GOLD PROJECT /16
Slide 17: Next Steps
NEXT STEPS Advancing and de-risking Cascabel’s development Right of Way and Purchase Option Agreements for Infrastructure Complete Permitting/Environmental and Social Impact Assessment Advance Required Permitting with Government Release Updated PFS Report on Phased Approach (Q1 2024) Progr
Slide 18: Exploration Portfolio Overview
EXPLORATION PORTFOLIO OVERVIEW AN EMERGING COPPER GOLD MAJOR /18
Slide 19: Exploration Overview
Northern Zone EXPLORATION OVERVIEW 1 2 3 4 First-mover advantage 5 Priority projects 1) Chical 2) Espejo Secured the largest tenement Central Zone 3) 4) Río Amarillo Playa Rica holdings in Ecuador 5) 6) Río Magdalena Agustín 7) Salinas Mining and exploration portfolio 6 8) 9) Caña Brava Cisne-
Slide 20: Northern Zone
Northern Zone CHICAL PROJECT 1 The Northern Zone lies within the 2 ESPEJO PROJECT Northern Ecuador Cordillera Occidental trend, Cascabel Project containing the Alpala and Tandayama-America RIO AMARILLO deposits were PROJECT 3 discovered PLAYA RICA 4 PROJECT Contains 5 priority projects at Chical
Slide 21: Central Zone
Central Zone The Central Zone holds strong exploration prospectivity for LA PLATA discovery of the southern extension Historic old mine, mining started in the 40¨s Current Inferred Resources of the Northern Ecuador Cordillera Occidental trend, associated with 1.9 Mt @ 4.1 g/t Au, 49.4 g/t Ag, 3.3%
Slide 22: Southwestern Zone
Southwestern Zone • The Southwestern Zone hosts RUTA DEL COBRE (CHAUCHA) Naranjos: 120 Mt @ 0.4-0.5% Cu RIO BLANCO Reserves several economic deposits and Gur-Gur: 43.4 Mt @ 0.54% Cu 0.65 Moz Au, 4.3 Moz Ag mineralized systems: • Loma Larga high- sulphidation epithermal gold deposit (2.2 Moz Au) LOMA
Slide 23: Southeastern Zone
Southeastern Zone The Southeastern Zone represents a relatively new copper belt discovered in South America, PANANTZA Inferred Mineral Resource hosting multiple large economic 463 Mt @ 0.66% Cu WARINTZA porphyry deposits, including: SAN CARLOS Indicated Mineral Resource Inferred Mineral Resource 6
Slide 24: Ecuador is Open for Business
AGENDA ECUADOR IS OPEN FOR BUSINESS Emerging mining jurisdiction, expected to play a significant role in the energy transition Cascabel Significantly De-Risked Key Industry Players SouthIn-Country America Policy Perception Index (Fraser Institute, 2022) Received 25-year extension to Legend (PPI Sco
Slide 25: Community-Led Approach to Development
COMMUNITY-LED APPROACH TO DEVELOPMENT Long-standing relationships with local communities underpinned by our goal for responsible mining SolGold has made consistent efforts to engage in consultation with local communities and ensure they share in the benefits of our activities According to the Ec
Slide 26: Highly Experienced Management Team
HIGHLY EXPERIENCED MANAGEMENT TEAM Scott Caldwell Chris Stackhouse Santiago Vaca Chief Executive Officer Chief Financial Officer Chief Geologist • 20+ years of experience • Ecuadorian geologist with • 40+ years of experience in managing exploration and over 13 years experience in the global mining i
Slide 27: A Uniquely Compelling Investment Opportunity
A UNIQUELY COMPELLING INVESTMENT OPPORTUNITY Rare Tier-1 Asset Vast Exploration Portfolio PROJECTS TO POWER Supportive Mining Jurisdiction A NET ZERO EMISSIONS FUTURE Excellent Community Relations International ESG Standards Highly Experienced Management WORLD-CLASS COPPER-GOLD PROJECT /
Slide 28: Footnotes
FOOTNOTES Slides 1 and 4 1. Source: Cascabel 2024 PFS technical study report-to be published. Cascabel Pre-Feasibility Study Press Release issued on the 16th of February 2024 Mineral Resource Estimate: Global Meassured and Indicated Resource at Alpala and Tandayama America. Dr Arseneau, P. Geo. Asso
Slide 29: Footnotes
FOOTNOTES Slide 7 1. Source: Cascabel 2024 PFS technical study report-to be published. Cascabel Pre-Feasibility Study Press Release issued on the 16th of February 2024. Dr. Gilles Arseneau, P. Geo., Associate Consultant with SRK Consulting (Canada), is responsible for this Mineral Resource statement
Slide 30: Investor Relations
Investor Relations AUSTRALIA (Head Office) +44 20 3807 6996 Level 27, 111 Eagle Street, Email: investors@solgold.com.au Brisbane QLD 4000 ECUADOR Avenida Coruña E25-58 y San Ignacio Edif. Altana Plaza, Quito UNITED KINGDOM 1 King Street London, EC2V 8AU LSE & TSX: SOLG