Slide 1: ASX Announcement: Strategic Update
ASX ANNOUNCEMENT Tuesday, 23 May 2023 Strategic Update Capricorn Copper Recovery and Golden Grove Outlook 29Metals Limited (‘29Metals’ or, the ‘Company’) today provides a strategic update to the market regarding the Capricorn Copper Recovery Plan and outlook for Golden Grove. As foreshadowed in 29Me
Slide 2: 29Metals Strategic Update: Capricorn Copper Recovery and Golden Grove Outlook
29Metals Strategic Update Capricorn Copper Recovery and Golden Grove Outlook Investor Presentation 23 May 2023
Slide 3: Important Information
Important Information The information in this presentation has been prepared by 29Metals Limited ('29Metals' or, the 'Company’). Information presented is deemed representative at the time of its original release and 29Metals does not accept any responsibility to update the information presented. Rea
Slide 4: Key Messages and Investment Highlights
Key Messages and Investment Highlights Planned restart of operations at Capricorn Copper, positive outlook at Golden Grove, substantial available liquidity Large (62Mt in Mineral Resources estimates1), long-life, high-grade mining operation in tier 1 location - Potential for mine life extensions -
Slide 5: Capricorn Copper Recovery Plan
Capricorn Copper Recovery Plan 4
Slide 6: Capricorn Copper Asset Overview
Capricorn Copper Asset Overview Long-life and high-grade copper mine located in the prolific Mount Isa Inlier Capricorn Copper Asset Summary Capricorn Copper Location Location QLD, Western fold belt of Mt Isa Inlier, 120km N of Mt Isa Ownership 100% Two dominant styles of mineralisation: Mineralisat
Slide 7: Situation Overview: Impact of Extreme Weather Event and Planned Recovery
Situation Overview: Impact of Extreme Weather Event and Planned Recovery Operations suspended at Capricorn Copper post extreme rainfall event – Phased restart planned from mid Sep-Qtr 2023 Operations suspended during extreme rainfall event over the period 6-10 March 20231 Temporary suspension of
Slide 8: Major Site Affected Areas and Planned Future Controls
Major Site Affected Areas and Planned Future Controls Planning for greater resilience against future weather events Capricorn Copper Aerial View 1 Affected Area What happened Future Controls Esperanza South Subsidence Zone 1 Water ingress (~500ML) into Esperanza South Additional and enhanced 1 E
Slide 9: Water Management Strategies
Water Management Strategies Available water management strategies and planned approach Strategy Comments Planned Water Management Approach2 Scale-up of Substantial evaporation infrastructure already in place. Scale-up of mechanical evaporation to reduce mechanical Procurement of additional eva
Slide 10: Phased Restart Strategy
Phased Restart Strategy Initial restart of Mammoth and Greenstone. Restart mining from Esperanza South upon dewatering and rehabilitation Approach to phased restart Ore sources during phased restart of full mining operations at Capricorn Copper2 Initial response and restart preparation Initial foc
Slide 11: Capricorn Copper Organic Growth Pipeline
Capricorn Copper Organic Growth Pipeline Highly prospective land package reflected by recent exploration results1 and large number of priority targets for exploration Targets for Exploration Early Studies PFS Feasibility Permitting/Approvals “New Area of Interest” – East Portal Fault Mammoth Deeps T
Slide 12: Capricorn Copper Recovery Plan Guidance
Capricorn Copper Recovery Plan Guidance1, 2 2023 guidance incorporates a combination of Initial Response and Phase 1 Restart 2023 Guidance 2024 2 Metric Unit 2023 Guidance Actual Initial Response Restart Restart Apr-2023 to mid Sep-Qtr-2023 to Duration Mar-Qtr-2023 To mid H1-2024 mid Sep-Qtr-2023 en
Slide 13: Capricorn Copper Recovery Plan Overview
Capricorn Copper Recovery Plan Overview Clear critical path with risks to delivery understood and plans in place Risks and Opportunities1 Key driver of recovery plan and timetable, managing environmental risk and reinstating / enhancing resilience of the site Water quality and - Preparation for ne
Slide 14: Golden Grove Outlook
Golden Grove Outlook
Slide 15: Golden Grove Asset Overview
Golden Grove Asset Overview Long life, high-grade copper, zinc and precious metals mining operation in tier 1 location Golden Grove Asset Summary Golden Grove Location Western Australia. Approx. 250 km east on sealed roads of Location concentrate export port of Geraldton Ownership 100% Mineralisatio
Slide 16: Golden Grove Mineral Resources
Golden Grove Mineral Resources Long mine life based on existing Mineral Resources, potential mine life extensions from organic growth and targets for exploration Mine Sequencing Strategy1 Golden Grove Mineral Resources Estimates (Dec 2022)4 Ramp-up production from Xantho 1 Extended, Golden Grove’s
Slide 17: Ore Reserves + Cervantes
Golden Grove Ore Reserves + Cervantes1 Xantho Extended is the asset’s highest value Ore Reserve ore source, Cervantes studies progressing 5.5% Grade - %Cu-eq2 Xantho Extended 5.0% and Europa Cevantes (Mineral Resource) 4.5% Gossan Valley Deposits 4.0% Scuddles 3.5% Mine Gossan Hill Main Other Hougou
Slide 18: Mining Sequence and Production Outlook
Golden Grove Mining Sequence and Production Outlook Targeting +1Mt pa from Golden Grove’s highest value ore source, Xantho Extended, by 2025 • Increased proportion of ore from Xantho Extended a key driver of metal production growth at Golden Grove • Zinc grades mined are expected to be in excess of
Slide 19: Production, Cost and Capital Outlook
Golden Grove Production, Cost and Capital Outlook Near-term metal production growth to drive lower unit costs of copper production Targeting progressive mill throughput ramp-up to ~1.75Mt pa in 2026. - Target ramp-up of Xantho Extended to +1Mt in 2025. Production Drivers - Then progressively lower
Slide 20: Golden Grove Organic Growth Pipeline
Golden Grove Organic Growth Pipeline Significant scope to extend mine life and enhance asset scale and efficiency Targets for Exploration Early Studies PFS Feasibility Permitting/Approvals Shaft / Material Handling Xantho Extended North Concepts Mill Expansion / Cervantes Gossan Valley Scuddles – GG
Slide 21: Operational De-risking
Golden Grove Operational De-risking Near-term operational de-risking via progression of TSF14 construction and Gossan Valley development2 2023 2024 2025 2026 Area Comments H1 H2 H1 H2 H1 H2 H1 Life of mine tailings facility to de-risk future TSF permitting requirements (reduces approvals frequency
Slide 22: Golden Grove Outlook Overview
Golden Grove Outlook Overview Risks to delivery well understood, with upside opportunities identified Risks and Opportunities 1 Xantho Extended is the key driver of outlook metal production profile. Outlook assumes material improvement in development rates. - Below plan development performance o
Slide 23: Guidance
29 Metals Guidance
Slide 24: 2023 Guidance
2023 Guidance 1 Updated Capricorn Copper guidance for 2023, incorporating recovery costs 2023 Guidance Metric Unit Capricorn Copper Group2,3 Production 4 Ore mined kt 514 – 584 1,964 – 2,184 Ore milled kt 473 – 543 1,923 – 2,143 Copper kt 7–9 24 – 29 Zinc kt NA 54 – 61 Gold koz NA 20 – 23 Silver koz
Slide 25: Unlocking value to empower the future
Unlocking value to empower the future