Meeka Metals Limited · ASX:MEK
Meeka Metals — Technical Presentation (July 2023)
25 slides from Meeka Metals's technical presentation, Jul 12, 2023
Slide 1: Murchison Gold Project Feasibility Study Presentation
Murchison Gold Project Feasibility Study Presentation 12 July 2023 Tim Davidson | Managing Director
Slide 2: Important Information Disclaimer
IMPORTANT INFORMATION Disclaimer This information contained in this presentation is issued by Meeka Metals Limited (“Meeka” or “the Company”). The information contained herein is confidential and proprietary to the Company and is provided to recipients on the terms and conditions set out in this dis
Slide 3: A High-Grade Gold Project
A High-Grade Gold Project Advancing to ‘Production Ready’. Located in the tier 1 mining jurisdiction of Western Australia. Recovered gold production of 663,000oz1 over 9.3 years, 80,000ozpa over the first eight years, peak production of 103,000oz in year six. Base case undiscounted pre-tax free cash
Slide 4: Experienced Team with 'Skin in the Game'
Experienced Team with ‘Skin in the Game’ Board and management have invested $2.8M in the Company to date. Capital Structure Board Share Price (close price 11 July 2023) $/share 0.038 Paul Chapman Non-Executive Chairman Shares on Issue M 1,068 Tim Davidson Managing Director & CEO Options on Issue M 3
Slide 5: Excellent Operating Address in the Murchison Goldfields
Excellent Operating Address in the Murchison Goldfields 100% MEK ownership in the Murchison Gold Project. Large 281km2 landholding. 100% of Mineral Resources and Ore Reserves are on granted Mining Leases. Excellent built infrastructure in the region: ▪ Sealed highway access and airstrip in Meekathar
Slide 6: Key Study Outcomes
Key Study Outcomes Key Project Metrics Pre-Production Capital Costs Initial Project Life Years 9.3 Site Infrastructure $M 27 Processing Throughput Mtpa 1.0 Processing Plant $M 68 Avg. Gold Production - years 1 to 8 Koz pa 80 Open Pit $M 13 Avg. Gold Production (Life of Project) Koz pa 66 Underground
Slide 7: Undiscounted EBITDA / Cash Flow
Economic Outcomes 400 mill upgrade and developing construction phase new underground mines At $2,750/oz: 300 ✓ Undiscounted free cash flow of $363 million pre-tax 200 and $261 million post-tax 135 79 $M 100 73 65 61 ✓ NPV5% of $249 million pre-tax and $171 million post-tax 11 31 15 24 7 - ✓ IRR of 4
Slide 8: Production and Cost Profile
Production and Cost Profile Open Pit Mining – includes mobilisation and site Costs $M $/t Milled $/oz Produced establishment, drill and blast, ore and waste mining, mine management and technical services, and Open Pit Mining 226 24.54 342 demobilisation costs. Underground Mining 369 40.00 557 Underg
Slide 9: Base Case Sensitivity Analysis
Base Case Sensitivity Analysis The Project is more sensitive to volatility in operating costs than capital costs, however continues to deliver positive cash flows under conservative assumptions. For each 10% change in operating costs there is a ~$95M change in pre-tax free cash flow. For each $100/o
Slide 10: Alternative Development Scenarios
Alternative Development Scenarios Potential to leverage existing Company owned and/or regional processing infrastructure. The Study proposes development of a new standalone 1.0Mtpa processing facility at Turnberry. This achieves economies of scale as seen at other large operations in the region (Wes
Slide 11: Site Layout and Access
Site Layout and Access Access to the Project is via the existing Andy Well mine gate from the Great Northern Highway. 1.0Mtpa CIL processing facility, TSF, offices, workshop, powerhouse and camp to be constructed at Turnberry. Existing infrastructure at Andy Well including workshop, stores, powerhou
Slide 12: Leveraging Valuable Existing Infrastructure
Leveraging Valuable Existing Infrastructure Andy Well: Initial 7 years of high-grade, high value production. Located on a granted Mining Lease with valuable existing infrastructure including workshop, stores, powerhouse, partial mill and 6km of UG decline development. Gold is hosted in high-grade qu
Slide 13: Large Dig Blocks, Productive Mining, Bulk Tonnage Mill Feed
Large Dig Blocks, Productive Mining, Bulk Tonnage Mill Feed Turnberry: Initial 5 years of open pit mill feed, plus an UG mine, which remains open at depth. Located on a granted Mining Lease, 15km southeast of Andy Well. Shear hosted gold with 685koz @ 2.0g/t Au in Mineral Resource. Total mining inve
Slide 14: Abundant Opportunity to Expand and Extend the Mine
Abundant Opportunity to Expand and Extend the Mine Turnberry averages 1,600oz’s per vertical metre to a depth of 200m where the density of drilling reduces. Slide 14
Slide 15: High-Grade Satellite Pit Leveraging Turnberry Infrastructure
High-Grade Satellite Pit Leveraging Turnberry Infrastructure St Anne’s: oxide deposit 3.5km south of Turnberry. Located on a granted Mining Lease and will piggyback off infrastructure installed at Turnberry. High grade oxide pits, 25koz @ 2.4g/t Au Ore Reserve 5.5m average open pit dig block width =
Slide 16: Mine Physicals and Modifying Factors
Mine Physicals and Modifying Factors Open Pit Metrics Units Base Case 120 4.0 Ore Mined Mt 4.7 Ore Grade g/t 1.4 Contained Gold Koz 204 100 Annual Gold Mined (Koz) Ore Reserve Strip Ratio x 17 Average Grade (g/t) 3.0 A total of 6 open pits are planned to be mined over the life of the project, includ
Slide 17: Simple Carbon-in-Leach (CIL) Processing
Simple Carbon-in-Leach (CIL) Processing The Project is based on development of a standalone 1.0Mtpa CIL processing facility at Turnberry. The plant processes 9.2Mt over 9.3 years at an average feed grade of 2.4g/t gold. Metallurgical recovery averages 95.0% based on feed schedule. Initial metallurgy
Slide 18: Production Growth Opportunities
Production Growth Opportunities Substantial opportunity to build on the base case production plan prior to development. Mineral Resources not included in the Study (518koz) have potential for inclusion in future studies and will potentially increase Ore Reserves and the production plan beyond 9.3 ye
Slide 19: ESG and Project Permitting
ESG Providing opportunities for the local community. The local community of Meekatharra has supported mining and exploration activities and the Project is anticipated to continue providing significant positive social benefits in the form of employment and commercial opportunities within the communit
Slide 20: Study Team
Study Team The Study was managed by the Company with recommendation, detailed design and review by independent technical experts. Discipline Company / Consultant Geology RSC Mineral Resource Estimation RSC Geotechnical – Open Pit Peter O’Bryan and Associates MineGeoTech Geotechnical – Underground Pe
Slide 21: Key Risks
Key Risks The Company considers the following key risks represent important factors relevant to the successful development and continued operation of the Project. Funding – to achieve the range of outcomes indicated in the Study, funding is required. This announcement documents the order of funding
Slide 22: Key Risks
Key Risks Mineral Resource and Ore Reserve – Mineral Resource and Ore Reserve estimates are expressions of judgement based on knowledge, experience and industry practice, including compliance with the 2012 JORC Code. These estimates are imprecise and depend on interpretations that may prove to be in
Slide 23: Appendix 1: Mineral Resource Statement
Appendix 1 Mineral Resource Statement. Measured Indicated Inferred Total Location Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces ('000t) (g/t) ('000oz) ('000t) (g/t) ('000oz) ('000t) (g/t) ('000oz) ('000t) (g/t) ('000oz) Andy Well 150 11.4 55 1,050 9.3 315 650 6.5 13
Slide 24: Appendix 2: Ore Reserve Statement
Appendix 2 Ore Reserve Statement. Cut-off Proven Probable Total Grade Location Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (g/t) ('000t) (g/t) ('000oz) ('000t) (g/t) ('000oz) ('000t) (g/t) ('000oz) Open Pit Turnberry 0.5 - - - 1,400 1.6 72 1,400 1.6 72 St Anne’s 0.5 - - - 320 2.4 25
Slide 25: eos
eos ASX:MEK (08) 6388 2700 info@meekametals.com.au meekametals.com.au DISCOVER GROW DEVELOP