Genesis Minerals Limited · ASX:GMD
Genesis Minerals — Shareholder Meeting (November 2024)
27 slides from Genesis Minerals's shareholder meeting presentation, Nov 14, 2024
Slide 1: Accelerate: ASPIRE 400 Annual General Meeting
For personal use only ACCELERATE “ASPIRE 400”; THE TRUSTED AUSTRALIAN GOLD MINER ANNUAL GENERAL MEETING 14 NOVEMBER 2024
Slide 2: Important information
Important information Not an Offer and Not Financial Product Advice For personal use only This Presentation does not constitute or contain an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in Genesis. This Presentation may not be released to US
Slide 3: The journey thus far…
The journey thus far… From concept to a leading ASX producer in 3 years: For personal use only SEPTEMBER 2021 APRIL 2022 JULY 2022 APRIL 2023 JULY 2023 TODAY… NEW MANAGEMENT CONCEPT COUNTER-CYCLICAL M&A COUNTER-CYCLICAL M&A NEW GOLD PRODUCER ACCELERATE GOLD EXPLORER “Open for business” strategy Daci
Slide 4: Plan on a page
Plan on a page ASPIRE PRODUCTION For personal use only VISION AND PEOPLE LOWER M&A VALUES FIRST GROWTH COSTS “The trusted Australian We mine safely - Protecting Relentless focus on Declining all-in sustaining Discipline first - Track record gold miner - Progressive, our people, our environment, oper
Slide 5: People First - Our People
People First - Our People For personal use only HBF Run GMS Board Site Visit Laverton Prestart Workboot Sprint Inaugural GeoFest RUOK Day CME Mines Rescue Competition Apprentice Mackye
Slide 6: People First - Our Community
People First - Our Community For personal use only Laverton Mystery Night Leonora Cup Gift Basketball Mental Health Week Warnkarunku Day Leonora Golden Gift Shooting Stars Baking
Slide 7: CME Underground Mine Emergency Rescue Competition
CME Underground Mine Emergency Rescue Competition Team Awards Individual Awards For personal use only 1st place Overall 1st place for Individual Theory - Ellie May 1st place for Best New Team 1st place for IMT Leader - Surja Pandit 1st place in Theory 2nd place for Best Captain - Jarvis de Lacy 1st
Slide 8: Corporate overview
Corporate overview Key metrics (ASX: GMD)1 Board For personal use only Shares on issue 1,128m1 Non-Executive Chairman Tony Kiernan Managing Director Raleigh Finlayson Share price A$2.30 Non-Executive Director Michael Bowen Market capitalisation A$2.6b Non-Executive Director Gerry Kaczmarek Cash and
Slide 9: One production centre in Western Australia
One production centre in Western Australia Simple and flexible - One production centre: For personal use only Two mills - Ore flows west to Leonora 1.4Mtpa or east to Laverton 3.0Mtpa; Total 4.4Mtpa Baseload ore (Gwalia, Tower Hill) plus “top-ups” Progressive economics - Rising volume / fall
Slide 10: BASE CASE 10-year plan
BASE CASE 10-year plan 3Moz production over 10 years More ounces and less cost, year-on-year: ► For personal use only Group production and cost outlook1,2,3 ► High confidence - 91% in Reserves 400 A$2,200 - 2,400 $2,400 “ASPIRE 400*” 350 ► Fully funded - Operating cash 350 325 $2,000 flows, cash and
Slide 11: Growth in an ex-growth world
Growth in an ex-growth world Underpinned by large, high-grade Resources and Reserves, 100% Western Australian: For personal use only Industry-leading production growth1 Industry-leading Reserves1 Industry-leading Resources1 Ora Banda Ora Banda 20% Ramelius Bubble size = Bellevue Bubble size = 1600 R
Slide 12: Accelerated organic growth strategy
Accelerated organic growth strategy First step - Hot start at Laverton: For personal use only First gold, six months early - Brisk first month (October): It’s pouring gold at Laverton Ore milled 166kt (v 119kt forecast) Recovered gold 3.3koz (v 1.4koz forecast) On track to meet recently upgr
Slide 13: Gwalia mine - Quality > quantity
Gwalia mine - “Quality > quantity” Prolific high-grade, long-life asset: For personal use only ► 7.0g/t “Heart of Gold”…blended with 4.2g/t Mid-Levels ► Followed by Rowe Decline 4.4g/t GENESIS’ MAIDEN GWALIA UNDERGROUND ESTIMATES 4.0Moz (A$120m growth capital) RESOURCES1 / 1.1Moz RESERVES1 Mid-Level
Slide 14: Ulysses mine - At one with Gwalia
Ulysses mine - At one with Gwalia Operational strategy unchanged from December 2022: For personal use only ► Surplus equipment / people at Gwalia… Two becomes one e.g. Trucks reduced to 10 (from 14) Gwalia Ulysses full scale2 Combined e.g. Jumbo drills reduced to 2 (from 5) Annual mining rate Mtpa 0
Slide 15: Tower Hill development - One of a kind
Tower Hill development - One of a kind Grade, scale, simplicity: Reserve pit For personal use only 1.0Moz ► Shallow, bulk mining opportunity with an (A$2,400/oz) industry-leading open pit grade - Just over 1km north of Gwalia ► Single open pit - Strike +1km, 4,000ozpvm ► 7-year mine life; 9 years of
Slide 16: Tower Hill development - First ore FY28
Tower Hill development - One of a kind First ore FY28: For personal use only FY25 FY26 FY27 FY28 Sep Q Dec Q Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q Dec H Jun H Dec H STAGE 1 OPEN PIT Design Complete Technical Studies & Assessments Complete Section 18 Approval Complete Clearing Permit Approval Submitted
Slide 17: ASPIRE 400 learning journey
“ASPIRE 400” learning journey +8Moz upside NOT included in 10-year plan1: For personal use only First ounces: NOW 5 years 10 years Tower Hill Open Pit Resource (optimised pit at A$2,800/oz) 0.4Moz2 Tower Hill Underground Resource (drill tested to only 450m) 0.2Moz1 Westralia Resource (re-evaluation
Slide 18: Jupiter - Reliable baseload near the Laverton mill
Jupiter - Reliable baseload on the doorstep of the Laverton mill Infrastructure in place, low capital start up: For personal use only ► Reserve has almost doubled based on: Jupiter long section Drilling success Lower cost GMS mining - 350t excavator and 190t truck fleet (same as Tower Hill) ► Sw
Slide 19: Making Westralia great again
Making Westralia great again Re-evaluating Westralia as a bulk open pit mining opportunity: For personal use only ► Significant +1Moz deposit just 15km from Laverton mill ► Continuously mineralised for more than 4km; Open to the north and at depth Long section - Multiple high grade ore shoots plungi
Slide 20: Making Westralia great again: open pit Resource
Making Westralia great again Open pit Resource anticipated March 2025: For personal use only Genesis: Previous: ► Mineralisation interpreted as a bulk package Opportunity ► Mineralisation interpreted selectively ► Open pit mining method Opportunity ► Underground mining method ► Low-cost Genesis Mini
Slide 21: Disciplined
Disciplined Key milestones: A$5,500 MODEST PRICE PROTECTION For personal use only 1. Jun 2022 - Dacian ceases mining at Laverton ZCC Call option @ A$5,300 48koz 2. Sep 2022 - Genesis gains control of Dacian A$5,000 3. Mar 2023 - Laverton mill placed on care and maintenance 4. Jun 2023 - Genesis acqu
Slide 22: Capital allocation
Capital allocation Progressive: For personal use only PRIORITIES Now… …“ASPIRE 400” Robust balance sheet ASPIRE “THIRDS” Growth projects NON-NEGOTIABLES Near-mine exploration Community contributions Dividends 1/3 TO GROWTH Buybacks / additional dividends EXCESS CASH FLOW 1/3 TO SHAREHOLDERS Social p
Slide 23: Ready set grow
Ready set grow For personal use only ► We are an aspirational Australian gold house, 100% focused on Leonora / Laverton ► We are targeting sustainable, high-quality production and earnings growth ► We play the “long game”: Enviable gold inventory Strategic management team Future-proofing throu
Slide 24: APPENDIX A - Resources and Reserves
APPENDIX A - Resources and Reserves* 2024 Mineral Resource Estimate by Area 2024 Ore Reserve Estimate by Area For personal use only Measured Indicated Inferred Total Proved Probable Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade
Slide 25: APPENDIX B - Peer data
APPENDIX B - Peer data Production CAGR metrics For personal use only FY24A FY25E FY26E FY27E FY28E FY29E Newmont NEM 6317 6659 6708 6831 7050 6962 ASX100 Northern Star NST 1645 1731 1913 2063 2134 2128 ASX100 Evolution EVN 717 746 743 796 805 783 ASX100 Capricorn CMM 113 114 119 172 304 304 Peers -
Slide 26: APPENDIX C - Gold price protection
APPENDIX C - Gold price protection at 11th November 2024 Forward sales: Zero cost collars: Put options*: For personal use only Quarter oz A$/oz Put strike Call strike Put strike Quarter oz Quarter oz A$/oz A$/oz A$/oz Dec 2024 4,500 3,611 Mar 2025 12,000 3,700 5,300 Sep 2025 18,000 3,700 Mar 2025 4,
Slide 27: Contact Details
For personal use only Contact Details: Troy Irvin Corporate Development Officer phone: +61 8 6323 9050 email: investorrelations@genesisminerals.com.au www.genesisminerals.com.au
Genesis Minerals — Shareholder Meeting (November 2024) on 6ix