Theta Gold Mines Ltd. · ASX:TGM
Theta Gold Mines — Indaba 2024 Mining Conference
30 slides from Theta Gold Mines's conference presentation, Feb 6, 2024
Slide 1: Theta Gold Mines Presentation – Cape Town Mining Indaba 2024
6 February 2024 ASX ANNOUNCEMENT THETA GOLD MINES PRESENTATION – CAPE TOWN MINING CONVENTION - INDABA 2024 Theta Gold Mines Limited (“Theta Gold” or the “Company”) (ASX: TGM) hereby attaches a For personal use only Presentation which was provided by Theta Gold’s Chairman, Bill Guy at the 121 Mining
Slide 2: About Theta Gold Mines Limited
ABOUT THETA GOLD MINES LIMITED Theta Gold Mines Limited (ASX: TGM | OTCQB: TGMGF) is a gold development company that holds a range of prospective gold assets in a world-renowned South African gold mining region. These assets include several surface and near-surface high-grade gold projects which pro
Slide 3: Theta Gold Mines Limited Indaba Presentation
THETA GOLDMINES LIMITED INDABA PRESENTATION February 2024 FS to recover 1.08Moz Au over 12.9 years LOM at TGME underground mine. For personal use only 6.1Moz Gold Resource and Growing 1
Slide 4: Disclaimer
Disclaimer FORWARD LOOKING AND CAUTIONARY STATEMENTS DISCLAIMER AND COMPETENT PERSONS STATEMENT This presentation may refer to the intention of Theta Gold Mines regarding estimates or future events which could DISCLAIMER be considered forward looking statements. Forward looking statements are typica
Slide 5: Snapshot: Reviving South Africa's first gold rush
Snapshot Reviving South Africa’s first gold rush 6 M oz of High-grade Gold under management (One of the largest Resources bases on ASX held by Junior) The Kirkland Lake Strategy - Back to the first gold rush for the next generation of For personal use only mines. 43 Historical Mines 620km2 of
Slide 6: ASX Listing
ASX Listing Ordinary Shares ASX: TGM 712M Out-of-the-money unlisted options and 72M For personal use only management performance rights Market Capitalisation1 ~A$68M (~US$45M)¹ (undiluted) Top Shareholders: BNP PARIBAS NOMINEES PTY LTD 13.7% ZENITH (HK) HOLDING LIMITED 7.5% CITICORP NOMINEES PTY LIM
Slide 7: Theta Gold expected catalysts 2024
Theta Gold expected Catalysis 2024 • Execution Plan Theta Underground Project • Permitting completion for Mining Right 83 (EIA) • Completion of Sprott Streaming due diligence Binding Streaming Agreement • Commercial Bulk Sampling – Metallurgical Results For personal use only • Early Cashflow Optio
Slide 8: Theta Gold Mines – Definitive Feasibility Study
Theta Gold Mines – Definitive Feasibility Study DEVELOPMENT DRILL RIG LONG HOLE DRILL RIG LHD The company’s growth strategy is developed on scaling up production from 4 historic underground mines: o Beta, Rietfontein, Frankfort, and CDM As detailed in the recently released DFS For personal use o
Slide 9: Theta Gold Highlights
Theta Gold Highlights • High Growth Gold Investment Opportunity • Existing Historic Goldfield - Multiple pre-developed, shallow, high grade historic gold mines – ready to be brought back into production • Large, Growing Resource - 6.1Moz gold resource @ 4.17g/t and continuously growing, with more th
Slide 10: South Africa's "Newest" Gold Field
South Africa’s “Newest” Gold Field The Transvaal Gold System sits geological on the eastern side of Bushveld Complex the largest layered igneous intrusion on earth. Our goldfield already produced ~7Moz Au For personal use only since 1870s. Pilgrims Rest Theta have generated and delivered one of the
Slide 11: Key FS Takeaways
Key FS Takeaways1 Underground ore mined Peak Funding Metallurgical Project Life 6.46Mt @ 5.95g/t Requirements Recovery For personal use only Theta Gold Mines Limited, controls 12.9 years Au for 1.24Moz of US$ 77M2 87% the Eastern Transvaal Gold Fields, contained gold where South Africa’s gold mining
Slide 12: Getting Ready for Construction/Production - Deliverables
Getting Ready for Construction/Production - Deliverables • Initial startup Feasibility Study (FS) completed in July 20221 to produce 1.24Moz Gold with a FS Life of Mine of 12.9 years. • Streaming funding non-binding Term Sheet executed with Sprott Streaming for US$70m (A$110m)2, due diligence now in
Slide 13: Strategy to build up to >160,000oz/a production within 5 years
Strategy to build up to >160,000oz/a Au production profile within 5 years (only 6 of >40 pre-developed mines) CURRENT FS - 90,000 oz/a PHASE >160,000 oz/a For personal use only PHASE 1 2 • 4 mining production units • Expand to 7 mining production • 45 kt/m Metallurgical plant units • Recommission ex
Slide 14: Underground mines targeted first
6 UG Mines targeted first out of potential > 40 Solid Growth Potential 5 2 For personal use only Pre-construction Permitting the next 3 phase of Mines • Surface footprint 1 • Underground rehabilitation • Operational readiness LEGEND Exploration 1. Beta Program Commercial Bulk 2. Frankfort • Undergro
Slide 15: Snapshot – Reviving South Africa's first gold rush
Snapshot – Reviving South Africa’s first gold rush • Provincial location with a small population • The local people, our stakeholders, lobbied government for the Project • ESG – Environmental offsets and Small Footprint, Community Forums, Local For personal use only Jobs created • First four Mines t
Slide 16: Appendices
For personal use only APPENDICES 14
Slide 17: Sprott Streaming Funding Term Sheet
Sprott Streaming Funding Term Sheet • NON-BINDING TERM SHEET EXECUTED WITH SPROTT STREAMING – US$70m (A$110m) • Stream funding Term Sheet signed with Sprott Streaming and Royalty Corporation. • Use of Funds – Stream funding is to be used for pre-development, development capital and operating expendi
Slide 18: Project Economics at Various Gold Prices – Base Case (AUD)
Project Economics at Various Gold Prices – Base Case (AUD) Forecast Project Economics at gold price Unit (USD1,642/ oz USD1,500/oz USD1,600/oz USD1,800/oz USD2,000/oz USD2,200/oz Avg) NPV @ 10% (real) Pre-tax AUDm 432 339 405 536 669 802 NPV @ 10% (real) Post-tax AUDm 292 232 274 359 447 533 IRR (%)
Slide 19: FS Project Economics at Various Gold Prices – Base Case (USD)
FS Project Economics at Various Gold Prices – Base Case (USD) Base Forecast Project Economics at gold price Unit (USD1,642/oz USD1,500/oz USD1,600/oz USD1,800/oz USD2,000/oz USD2,200/oz LoM Avg) NPV @ 10% (Pre-tax) USDm 324 255 304 402 501 601 NPV @ 10% (Post-tax) USDm 219 174 206 269 335 400 For pe
Slide 20: FS - Operating Costs in Dollar per Ton
FS - Operating Costs in Dollar per Ton (Project over LoM) AUD/Milled USD/Milled Operational Cost tonne tonne • Adjusted Operating Costs against the milled tonnes per year Mine Cost 96 72 • The increase in feed tonnes in years 9 to 12 is due to Frankfort mine being mined, and the tonnes Plant Costs 4
Slide 21: FS - Phase Plant Rendering
FS - Phase 1 Plant Rendering For personal use only 19
Slide 22: FS - Free Milling Ore Process Plant
FS - Free Milling Ore Process Plant For personal use only 20
Slide 23: FS - Process Selection and Metallurgical Test Work
FS - Process Selection and Metallurgical Test Work Individual Mine % of 1.24M Oz into Mine Test Work Recovery DFS Recovery Used Comments Metallurgical Test Work Schedule Beta 60.4% 87-95% 88% • Beta showed to be amenable to conventional CIL processing with 86-95% recoveries For personal use only Rie
Slide 24: Timeline To Production
Timeline To Production Task Description Q2, Year 1 Q3, Year 1 Q4, Year 1 Q1, Year 2 Q2 Year 2 Q3, Year 2 Q4, Year 2 Q1, Year 3 Q2, Year 3 Definitive Feasibility Study Environmental and Water Approvals ü ü ü ü Gold Plant Construction / Commissioning ü ü ü ü ü ü ü For personal use only Tailings Dam Up
Slide 25: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) ESG IS INTEGRAL TO THE DEVELOPMENT STRATEGY AND IS BASED ON: • Conservation of biodiversity • Holistic risk management • Responsible production practices • Zero harm approach to health and safety • Positive impact on host communities For personal use only • E
Slide 26: Combined Minerals Resource Statement (~6.1Moz)
Combined Minerals Resource Statement (~6.1Moz) Combined Mineral Resource Resource Classification Type of Operation Tonnage Gold Grade Gold Content Mt g/t Kg koz Underground 0.091 5.37 489 15.7 For personal use only Measured Open pit Tailings Total Measured 0.091 5.37 489 15.7 Underground 4.774 6.21
Slide 27: Total Mineral Resources of the Mines included in the DFS
Total Mineral Resources of the 4 Mines included in the DFS - Combined as of 1 February 2021 Stope Stope Mineral Resource Reef Grade Reef Width Stope width Content Reef Tonnes Au Content Mine Reef Grade Tonnes Classification g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 10
Slide 28: Mineral Resource Statement – Underground Only (~4.5Moz)
Mineral Resource Statement – Underground Only (~4.5Moz) Mineral Resource Reef Grade Stope Grade Reef Width Stope width Content Reef Tonnes Stope Tonnes Au Content Mine Reef Classification g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 103 520 0.069 0.091 489 15.7 Total Mea
Slide 29: Mineral Resource Statement – Open Pit Only (~1.4Moz)
Mineral Resource Statement – Open Pit Only (~1.4Moz) Reef Grade Reef Width Content Reef Tonnes Au Content Mineral Resource Classification Open Pit Mine Reef g/t cm cm.g/t Mt kg koz Hermansburg Eluvial 1.79 0 0 0.505 905 29.1 DG1 Eluvial 2.24 0 0 0.640 1 432 46.0 DG2 Eluvial 0.66 0 0 1.586 1 041 33.5
Slide 30: Board of Directors and Registered Office
Board of Directors Registered and Principal Office Bill Guy Executive Chairman (Economic Geology) Level 35, International Tower One Richie Yang NED (Corporate Finance) 100 Barangaroo Avenue Bryon Dumpleton NED (Resource Geology) Barangaroo, Sydney, NSW 2000 Brett Tang NED (Funds Mgmt) Telephone: 02