Caravel Minerals Limited · ASX:CVV
Caravel Minerals — Shareholder Meeting (November 2019)
23 slides from Caravel Minerals's shareholder meeting presentation, Nov 21, 2019
Slide 1: Caravel Minerals Annual General Meeting
Caravel Minerals Annual General Meeting 21 November 2019
Slide 2: Disclaimer
Disclaimer Cautionary Statement This presentation has been prepared by Caravel Minerals (“Caravel”) to assist in informing interested parties about the Company and its progress. It should not be considered as an offer or invitation to subscribe for or purchase any securities in Caravel or as an indu
Slide 3: Corporate overview
Corporate overview Capital structure CVV share price performance (1 year) ASX ticker CVV Share price (19 November 2019) 4.0c Shares on issue 197M Unlisted options (6.8c-10c strike) 19M Market capitalisation (undiluted) $7.9M Cash (31 October 2019) $0.8M Ownership Analysis Debt Nil Cooke Board and Ma
Slide 4: A WA company pioneering discovery and development
A WA company pioneering discovery and development • CARAVEL Minerals ASX-listed (CVV) exploration and development company • Prospective area located just 150kms from Perth with well-established infrastructure and workforce • Dominant mineral title position with exploration licenses covering 378km2 o
Slide 5: New copper mines becoming rare
New copper mines becoming rare • Few new proposed copper mines • Lower-grades globally • Higher risk jurisdictions • Higher infrastructure costs for services • Higher-strip ratios with higher cost operating models • More impurities, making treatment more difficult • More demanding regulation of smel
Slide 6: Geology & Exploration
Geology & Exploration • Deformed Archean porphyry copper • Amenable to open pit bulk mining • Fresh mineralisation below 10-50m of leached profile • Situated within 30km long regional copper trend • Chalcopyrite associated with quartz veins • Grade determined by frequency and width of veins • Molybd
Slide 7: Exploration FY19
Exploration FY19 Field work focussed on the Bindi and Dasher prospects • Seven Diamond Drill (DD) holes (1,098m) • Targeting zones of better mineralisation to improve understanding on controls on mineralisation • Detailed structural information prompted revised interpretation of the Bindi deposit •
Slide 8: WA’s largest undeveloped copper resource
WA’s largest undeveloped copper resource 32% Increase (by contained copper @0.15% Cu cut-off) to 1.86Mt from 2016 Resource
Slide 9: WA’s largest undeveloped copper resource
WA’s largest undeveloped copper resource
Slide 10: With more potential to grow
With more potential to grow • Bindi deposit • Open at depth • East & west limbs remain open to south • High probability further drilling would identify additional mineable resources at Bindi • Dasher deposit • Open at depth and to west, footwall zone potential to add significant additional resources
Slide 11: Mining
Mining • Mining study carried out by Oreology assuming contract mining • Pit optimisation carried out to quantify potential mining inventories within pit shells • Mining would commence at Bindi followed by Dasher in later years • Propose 10m benches with 5m flitch heights • Good geotechnical results
Slide 12: Simple metallurgy supports low-cost operating model
Simple metallurgy supports low-cost operating model • Chalcopyrite, Molybdenite mineralisation • Comminution and flotation tests have been carried out on composite samples • High flotation recoveries • Very low reagent usage • Very fast float times
Slide 13: Simple process flowsheet
Simple process flowsheet • Lowest cost option uses proven technology with further cost optimisation potential • Standard crush, grind, float flowsheet • Gyratory Primary • Secondary Cone Crushing • High Pressure Grinding Roll (HPGR) • Copper and Moly flotation circuit • Concentrate Handling • Tailin
Slide 14: Smelters seeking new supply clean copper concentrate
Smelters seeking new supply clean copper concentrate… Element Caravel Concentrate¹ Cu (%) ~25% As (%) <0.01 Copper’s worldwide Bi (%) 0.01 problem is declining China has mandated a concentrate quality maximum arsenic Cd (ppm) <5 product, but with CARAVEL content of 0.5% Cl (%) <0.01 tighter market C
Slide 15: Potential to capture massive locational advantages
Potential to capture massive locational advantages • Simple open-pit bulk mining proposition 150km from Perth • Access to grid power at low cost from SW Grid and existing line from Moora to Wongan Hills • Good road access to two established export ports suitable for concentrate handling and export •
Slide 16: Environment and Approvals
Environment and Approvals • Project located on freehold cropping farmland – 92% cleared • Baseline environment surveys commenced • Mining Lease application to be prepared in line with project definition • Yued Native Title part of South West Native Settlement
Slide 17: Stakeholders and Social Sustainability
Stakeholders and Social Sustainability • Wide consultation with key stakeholders • Land access agreements with landowners • Excellent exploration access – since early 2000s • Skilled regional workforce • Shires and town support growth and diversification • ~500 construction jobs • ~250 operational j
Slide 18: Feasibility work progress
Feasibility work progress Project feasibility studies completed, commenced and progressed: Feasibility Level Study Area Advisors Scoping PFS DFS Geology MRG/Caravel Resources Trepanier Geotechnical Dempers & Seymour Mining Orelogy/MSP Metallurgy Aurifex/ALS/MSP Process Design MSP Power T
Slide 19: Future work – Caravel Copper Project
Future work – Caravel Copper Project • Build on positive results from 2019 Scoping Study • Progress to Pre-Feasibility Study, Definitive Feasibility Study • Seeking funding / potential partnerships • Advisors appointed to identify parties and facilitate • Strategic funding discussions with a range o
Slide 20: Caravel Copper Project
Caravel Copper Project • WA’s largest undeveloped copper project • Large-scale, long-life project in close proximity to high-quality infrastructure • Mineral Resource (0.15% cut-off) 662Mt at 0.28% Cu, for 1.86Mt contained Cu. • Recently completed Scoping Study confirms viability of project. • Simpl
Slide 21: Appendix
Appendix
Slide 22: Ore Sorting
Ore Sorting • Not part of base case • Potential to increase grade to the mill • Trial using TOMRA’s x-ray transmission sorting • Copper grades increased from 0.27% Cu to 0.7% Cu within 30% of original mass • Reject ~ 0.09% Cu – below marginal cut-off for processing • Further work required to optimis
Slide 23: Plant Layout
Plant Layout Process plant layout for 30Mtpa
Caravel Minerals — Shareholder Meeting (November 2019) on 6ix