Matsa Resources Ltd · ASX:MAT
Matsa Resources — Singapore Mining Club (March 2024)
28 slides from Matsa Resources's conference presentation, March 2024
Slide 1: Corporate Presentation – Singapore Mining Club
Corporate Presentation Singapore Mining Club Gold Production Commencing in 2024 ASX:MAT March 2024
Slide 2: Disclaimer and Forward Looking Statements
Disclaimer Disclaimer and Forward Looking Statements This presentation has been prepared by Matsa Resources Limited (“Matsa” or the “Company”). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Company. This presentation may
Slide 3: Matsa Corporate Overview
Matsa Corporate Overview Gold Resource Resource Grade Shares on Issue DIRECTORS 936,000 oz 2.5g/t 478.82M Paul Poli Executive Chairman $0.03AUD Mr Poli is a CPA with over 34 years of business and corporate experience. He founded Matsa Resources and has spearheaded M&A deals with Panoramic, Bulletin,
Slide 4: 936,000 Ounces of Gold With A Twist Of Lithium
Mp W\ANTSA RESOURCES 936,000 Ounces of Gold With A Twist Of Lithium
Slide 5: Lake Carey Gold Project
WA # Lake Carey Project SS Les
Slide 6: A Substantial Golden Opportunity
A Substantial Golden Opportunity
Slide 7: Lake Carey Gold Project – 936,000oz Au
Lake Carey Gold Project – 936,000oz Au ^ Notes: The Resource the Devon pit, representing 65koz, is subject to the JVA with Linden Gold “Refer ASX announcement dated 4 March 2024. There has been no change to the mineral resource since this release.
Slide 8: Regional Setting
Regional Setting Lake Carey Gold Project - a world class setting • 449km2 high quality tenement position in eastern goldfields region • Realistic and robust pipeline of exploration and development projects • Matsa’s exploration has delivered a 213% increase in resource since June 2020 from 439koz @
Slide 9: Best Address in the Gold Industry
Best Address in the Gold Industry Eastern Goldfields – Yilgarn Craton • Tier 1 gold jurisdiction • Long rich history of gold development • “Predictive” research by pmd*CRC, Geoscience Australia 2010, highlights Laverton-Lake Carey area as a major gold target within the eastern Yilgarn for exploratio
Slide 10: Lake Carey Gold Project
Lake Carey Gold Project A substantial golden opportunity • 3 Gold Mines o Fortitude Gold Mine o Devon Pit Gold Mine o Red October Underground Gold Mine • A world class exploration target o Fortitude North • Pipeline of quality greenfields and brownfields exploration targets to be drilled including:
Slide 11: Lake Carey Gold Project
Lake Carey Gold Project A substantial golden opportunity • 3 Gold Mines o Fortitude Gold Mine o Devon Pit Gold Mine o Red October Underground Gold Mine • A world class exploration target o Fortitude North • Pipeline of quality greenfields and brownfields exploration targets to be drilled including:
Slide 12: Devon Pit – Sensational Gold Results
Devon Pit – Sensational Gold Results New drilling* results support previous modelling and mining studies West Lode • 2.0m @ 16.18g/t Au from 18m (DVWL001) • 4.0m @ 13.44g/t Au from 55m (DVWL003) • 1.0m @ 50.30g/t Au from 47m (DVWL005) • 6.0m @ 36.16g/t Au from 48m (DVWL007) • 5.0m @ 10.91g/t Au from
Slide 13: Devon Pit - Near Term Production
Devon Pit - Near Term Production Strong Cashflow potential of A$37.1M • Planned mining to commence 2H 2024 • Cash surplus of A$37M* at A$2,650/oz sale price ($2,000 optimisation) • Substantial cashflow upgrade with current Gold Price • Further improvements expected through increased drilling • Expec
Slide 14: Permitting
Permitting Final Approvals Expected June 2023
Slide 15: Expanded Fortitude Gold Mine
Expanded Fortitude Gold Mine Fortitude Gold Mine: • Fully permitted and mine ready • Is an amalgamation of 3 trial pits, completed by Matsa in 2018 Fully permitted and mine ready
Slide 16: Fortitude Gold Mine
Fortitude Gold Mine Gold Resource of 489,000oz • 1km long open pit down to 190m depth • Granted Mining Lease with approved Mining Proposal (MP) in place allowing immediate start of mining • Completed scoping study outlines production of 132,000oz across 30 months generating >A$95M* surplus (@ A$2,40
Slide 17: Red October (underground)
Red October (underground) Red October oblique view looking (grid) NE 244,000 ounces Au @ 5.6g/t More to be found! Open • Lionfish strike extensions (open in both directions) • Lionfish resource gap infill (zone B) • Intersection of Lionfish and Western target (zone C) Open • Nemo (southern extension
Slide 18: Geological Setting
Geological Setting Long Lived Gold Forming Events • Multiple exploration corridors - extensive 94km strike of key structural trends • Deposits show evidence of multiple phases of fluid movement and ore formation • Local mine scale structural setting mimicking the larger regional scale structural set
Slide 19: Fortitude North Drilling
Open Fortitude North Drilling • 1.7km long mineralised zone open along strike with strong potential to increase with drilling expected to commence in the near term • Seven of the top twelve intercepts at Fortitude North have come from the 2023 program*: • 25m @ 3.3g/t Au from 147m (23FNRC006) • 14m
Slide 20: 2023 Fortitude North Drilling
2023 Fortitude North Drilling Sensational thicknesses Significant results include: • 14m @ 3.4g/t Au from 113m incl. 6m @ 5.1g/t Au from 113m • 35m @ 3g/t Au from 150m incl. 4m @ 6.5g/t Au from 153m; and 5m @ 5.6g/t Au from 170m • 7m @ 2.1g/t Au from 119m • 21m @ 1.7g/t Au from 120m Compare original
Slide 21: M&A Activity
M&A Activity EV/Oz Avg EV/Oz $218.9/oz $216 .8/oz Recent M&A activity for ASX listed WA pre-production assets (Refer Appendix 1 for full references including resource breakdown and transaction announcement date) $176.3/oz $161.7/oz $8 8 .0/oz $9 3.7/oz $77.6/oz $6 5 .9/oz $5 3.8/oz $5 1.1/oz $39 .0
Slide 22: M&A Activity
M&A Activity 1.85g/t Au * 0.29 moz * Linden Gold Alliance Limited announcement 27 October – merger with Lord Bryon Mining, 292,900oz @ 1.85g/t
Slide 23: Poised to Realise True Value
Poised to Realise True Value We have the assets to create significant value Devon Pit Gold Mine • Finalise permitting and funding for Devon gold mine - 1H 2024 • Finalise Ore processing agreement - 1H 2024 • Finalise mining Agreement - 1H 2024 • Commence mining operations – 2H 2024 • Be cashflow pos
Slide 24: How Will We Achieve This?
How Will We Achieve This? 05 Years 3+ Realise diversified Develop diversified international mining international mining portfolio portfolio YEARS 3+ 04 Shareholder rewards and 03 YEARS 3-4+ re-investment for capital Dividend returns to Develop Fortitude growth shareholders Reward investment with min
Slide 25: Devon Pit Gold Mine to Fund Matsa
Devon Pit Gold Mine to Fund Matsa Cash Pipeline from Devon Pit Gold Mine
Slide 26: Timeline to Profit at Devon
Timeline to Profit at Devon $15M - $20M Mine designs, Regulatory Mining July 2025* schedules, Cash Flow Approvals commences May 2024 June 2024 October 2024 First profit payment December 2024 Mining Term Drilling Mining Dewatering Sheet September 2023 March 2024 agreement commences 31 March 2024 July
Slide 27: Contact Us
Contact Us Paul Poli Executive Chairman reception@matsa.com.au 27
Slide 28: Appendix 1: Pre-production WA Gold M&A Peer Comparison
Appendix 1: Pre-production WA Gold M&A Peer Comparison Information & References Acquirer Target Stage Date Deal Value EV/oz MEASURED INDICATED INFERRED TOTAL GRADE Source ($Am) ($AUD/oz) (Koz) (Koz) (Koz) RESOURCE (g/t) (Koz) Northern Star Strickland Minerals Limited Resource Development Jun-23 $61.