Duketon Mining Ltd · ASX:DKM
Duketon Mining — RIU Investor Presentation (May 2021)
32 slides from Duketon Mining's conference presentation, May 5, 2021
Slide 1: Investor Update May 2021
For personal use only Investor Update May 2021 Stuart Fogarty Managing Director www.duketonmining.com.au Duketon Mining Limited |
Slide 2: Cautionary Statement
Cautionary Statement For personal use only This presentation has been prepared by Duketon Mining Limited(“Duketon”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and
Slide 3: Corporate Overview
Corporate Overview Duketon Mining Limited ASX: DKM Share Price Chart (Last 12 Months) For personal use only Shares on Issue 121m 0.35 0.3 Options on Issue1 9.66m 0.25 0.2 Market Cap. @ 29.5c $36m 0.15 0.1 0.05 Cash + Investments ~$32m 0 Enterprise Value $4m 1. Volume weighted exercise price of 24 ce
Slide 4: Strategies to Drive Shareholder Value
Strategies to Drive Shareholder Value For personal use only 1. Expand/Study Mining study, target extensions to Rosie, C2 and greater area Nickel Resources for Ni-Cu-PGE Acquire advanced Au or Ni project with inherent upside that 2. New Projects can be unlocked through technical and/or commercial mea
Slide 5: Project location map
Honeymoon Well Collurabie Mt Fisher East For personal use only Mt Keith Cliffs Hootanui & Camp Oven Yakabindie Rosie & C2 Resources Cosmos Group Hacks Bore Leinster Group Waterloo Sinclair Mt Windarra Somerset Murrin Murrin 50 Kilometres
Slide 6: Strategic Location
Strategic Location Large land position - multiple projects For personal use only ❑ 87,100t of nickel metal in JORC resources ❑ 12,900t of copper metal in JORC resources ❑ 230koz PGE’s in JORC resources ❑ Positive metallurgical results, up to 97% recovery and 22% Ni concentrate achieved.* ❑ Access to
Slide 7: +87k t of Ni metal, +230koz PGE's and growing
+87k t of Ni metal, +230koz PGE’s and growing Rosie Nickel Deposit For personal use only ❑ Mineral Resource Estimate 2021 ❑ 49,100t nickel, ❑ 10,600t copper, ❑ 205,000oz PGE’s C2 Nickel Deposit ❑ Mineral Resource Estimate 2015 ❑ 38,000t nickel, ❑ 2,300t copper, ❑ 26,000oz Pt + Pd Both deposits open
Slide 8: +118k tonnes of NiEq in resource
+118k tonnes of NiEq in resource Significant combined NiEq. metal tonnes For personal use only Rosie Nickel Sulphide Resource >1% NiEq Total Classification Tonnes Ni (%) Cu (%) Co (ppm) NiEq (%) Ni (t) Cu (t) Co (t) Total PGEs (oz) PGEs (g/t) Indicated 1,706,706 2 0.39 560 2.5 3.21 34,309 6,666 951
Slide 9: Positive Metallurgical Work - Rosie
Positive Metallurgical Work - Rosie* High Quality Concentrate For personal use only ❑ Ni recovery up to 97% ❑ Intermediate con. up to 22% Ni ❑ Nickel con. grading 16% Ni and 7g/t total PGE’s from massive ore ❑ Bulk con. grading 15%(Ni+Cu) and 12g/t total PGE’s from violarite ore ❑ Fe:MgO from 8 to 6
Slide 10: Rosie Long Section
402000mE 402250mE 402500mE 402750mE Surface For personal use only 500m 5.2m @ 3.3% Ni 9m @ 1.45% Ni 7.4m @ 1.41% Ni inc. 4.6m 1.95% Ni 6m @ 2.56% Ni 8.1m @ 1.2% Ni 250m 6.8m @ 1.5% Ni 10.2m @ 4.5% Ni 6.7m @ 1.2% Ni 11.8m @ 1.0% Ni 3.7m @ 4.4% Ni 0m 5.3m @ 2.6% Ni 7.7m @ 1.4% Ni 4.6m @ 3.6% Ni Legend
Slide 11: Positive Scoping Study - Solid Platform for Future Growth
Positive Scoping Study - Solid Platform for Future Growth* Confirms the viability of a mining, trucking and toll treating operation assuming an For personal use only 8-year mine life. ❑ Ni price of US$8/lb (range US$7.50/lb to US$8.50/lb) ❑ NPV5 of ~ $161M (range $56m to $204M) ❑ IRR of ~ 54% (range
Slide 12: Simple Mining Concept
Simple Mining Concept Access For personal use only Ore Drive Stockpile Decline Return Air System Escapeways * see ASX Announcement 28 April 2021 Duketon Mining Limited | 12
Slide 13: Grade is King
Grade is King For personal use only * see ASX Announcement 28 April 2021 Duketon Mining Limited | 13
Slide 14: Ore Production by Month
Ore Production by Month Resource Confidence For personal use only ❑ 73% of ore from Indicated ❑ 27% of ore from Inferred ❑ Production Rate ~ 30kt to 40kt per month * see ASX Announcement 28 April 2021 Duketon Mining Limited | 14
Slide 15: Sensitivities – Impact on NPV
Sensitivities – Impact on NPV For personal use only * see ASX Announcement 28 April 2021 Duketon Mining Limited | 15
Slide 16: Rosie Prospect Cross Section
SW NE For personal use only Base of alluvial Base of complete oxidation 1.0m @ 1.4% Ni, 0.7% Cu Top of fresh rock *2.0m @ 1.7% Ni, 0.3% Cu Mineralisation 6.5m @ 1.7% Ni, 0.4% Cu, 1.7g/t PGE Transported cover *8.8m @ 0.5% Ni, 0.2% Cu, 0.7g/t PGE Transitional 8.5m @ 2.0% Ni, 0.6% Cu, 3.7g/t PGE Ultram
Slide 17: Rosie – 5.2m @ 9.2% Ni, 1.1% Cu & 3.6g/t Pt+Pd
Rosie – 5.2m @ 9.2% Ni, 1.1% Cu & 3.6g/t Pt+Pd For personal use only Hangingwall Ultramafic 8.9% Ni 1.24% Cu 9.18% Ni 1.13% Cu 8.87% Ni 1.25% Cu 9.86% Ni 1.08% Cu 9.33% Ni 0.97% Cu 7.31% Ni 1.51% Cu 9.42% Ni 0.63% Cu Duketon Mining Limited | 17
Slide 18: Nariz Long Section
Surface 402600mE 402800mE 403000mE 403200mE For personal use only 400m 8.1m @ 1.2% Ni Massive sulphide from DKMDD005 0.3% Cu 1.0 g/t Pt/Pd 300m 16.2m @ 0.6% Ni 2.8m @ 1.6% Ni NARIZ 18.7m @ 0.6% Ni LONG SECTION 200m Legend 9.2m @ 5.0% Ni >10 Ni % m 0.1% Cu 0.6 g/t Pt/Pd 8 – 10 Ni % m 6 – 8 Ni % m 7.2
Slide 19: Nariz Prospect Cross Section
6943800mN S N Tertiary cover For personal use only Top of fresh rock 400m RL 2m @ 1.14% Ni, 0.15% Cu & 1.64g/t Pd + Pt 2m @ 1.06% Ni, 0.26% Cu & 0.7g/t Pd + Pt 2m @ 0.85% Ni, 0.14% Cu & 0.7 g/t Pt + Pd 200m RL 9.22m @ 4.96% Ni, 0.41% Cu & 2.44g/t Pd + Pt 1.8m @ 0.7% Ni, 0.23% Cu & 0.15g/t Pt + Pd 3.
Slide 20: Nariz – 5.6m @ 7.1%Ni, 0.5%Cu & 3.8g/t Pt+Pd
Nariz – 5.6m @ 7.1%Ni, 0.5%Cu & 3.8g/t Pt+Pd For personal use only 5.1% Ni 0.2% Cu 7.7% Ni 0.1% Cu 7.9% Ni 0.5% Cu 8.0% Ni 0.9% Cu 7.9% Ni 0.6% Cu 7.9% Ni 1.3% Cu 7.5% Ni 0.5% Cu 7.8% Ni 0.4% Cu 7.7% Ni 0.2% Cu 6.2% Ni 0.4% Cu 5.4% Ni 0.4% Cu 2.5% Ni 0.5% Cu 1.2% Ni 0.1% Cu Duketon Mining Limited |
Slide 21: C2 Prospect Cross Section
W E For personal use only Base of complete oxidation Top of fresh rock 22m @ 0.7% Ni 22m @ 0.50% Ni 5m @ 0.9% Ni 20m @ 1.0% Ni Mineralisation 52m @ 0.9% Ni 14m @ 1.0% Ni Transported cover Saprolite 4.5m @ 2.0% Ni Saprock Mafic Sediment 25.5m @ 0.7% Ni Ultramafic Drill trace with 0.4% Ni cut-off C2 P
Slide 22: Hootanui and Camp Oven
Hootanui and Camp Oven Multiple EM Responses and Ni Sulphides For personal use only ❑ Several regionally extensive cumulate textured ultramafic units. ❑ No outcrop, shallow cover and laterite. ❑ Extensive surface geochemistry, U/M contacts outlined by +250ppm Cu and +2000ppm Ni. ❑ Large portions of
Slide 23: Regional Tenement Acquisition
Regional Tenement Acquisition (all 100% DKM) Strategy 3 Underway For personal use only ❑ Eagle – gold project in the Tanami region, two small non JORC compliant gold resources and numerous other significant intercepts Eagle ❑ Lake Barlee –gold project near Halleys East Gold Mine, 200km north of Sout
Slide 24: Eagle (Au)
Eagle (Au) For personal use only ❑ 200km SSE of Halls Creek in the Tanami- Granites Orogen, Western Australia ❑ One application covering approx. 120 sqkm, surrounds Northern Star’s Kookaburra and Vulture Prospect Sandpiper Resources (approx. 200koz) 4m @ 2.6g/t Au ❑ Mineralisation associated with WS
Slide 25: Lake Barlee (Au)
Lake Barlee (Au) For personal use only ❑ 200km north of Southern Cross in the Marda-Diemals Greenstone Belt ❑ Tenure covers 200 sqkm (4 applications) ❑ Surrounds the Halleys East Gold Mine (mined 2013-2017 by Beacon Minerals ❑ Prospects include: Halleys NE 8m @ 2.4g/t ❑ Lost Bolt – 3km long plus Fen
Slide 26: Fisher South (Ni)
Fisher South (Ni) For personal use only ❑ 35km SW of Rox Resources Camelwood nickel deposits ❑ One application covering approx. 190 sqkm ❑ Southern end of Mt Fisher Greenstone Belt ❑ Broad spaced shallow drilling returned anomalous Ni/Cu intersections within ultramafic lithologies ❑ Several intersec
Slide 27: Mulga Tank North (Au)
Mulga Tank North (Au) 195km NE of Kalgoorlie For personal use only ❑ ❑ One application covering approx. 298 sqkm (ELA 39/2211) ❑ Covers a significant portion of the Minigwal Greenstone Belt ❑ Extensive cover sequence has limited previous gold exploration ❑ Several gold prospects remain undrilled Duk
Slide 28: Cunyu (Au + Ni)
Cunyu (Au + Ni) For personal use only ❑ 90km north of Wiluna ❑ Tenure covers 750 sqkm (three applications) ❑ Covers the entire Merrie Greenstone Belt ❑ Outcrop is poor, obscured by transported cover sequences ❑ Previous gold exploration from early 1990’s, number of gold prospects defined ❑ Generally
Slide 29: Doris (U)
Doris (U) For personal use only ❑ 120km NNW of Meekatharra ❑ Granted tenement ❑ 44 sqkm (E 52/3833) ❑ Straddles faulted contact of Depair Granite and Labouchere Formation ❑ Several U prospects identified with significant drill intercepts ❑ Uranium within altered biotite shear zones in granite ❑ Hist
Slide 30: Stephens Base Metals VMS project
Stephens For personal use only ❑ Base Metals VMS project ❑ 120km WNW of Paynes Find ❑ Single block tenement (E59/2414) ❑ Located within the Gullewa- Koolanooka Greenstone Stephens Project Belt, 60km WSW of the Golden Grove Mines ❑ Numerous copper, zinc-lead intersections including: 5m @ 1.9% Cu & 18
Slide 31: Investment Highlights
Investment Highlights Rosie Scoping Study For personal use only ❑ Study has confirmed a viable trucking and toll treatment option over an 8yr mine life with upside in the following; ➢ use all precious metals in NiEq calculation + closer to spot prices ➢ Rosie oxide pit, standalone concentrator, C2 p
Slide 32: Contact Details
Contact Details For personal use only Duketon Mining Ltd. Head Office Phone +61 8 6315 1490 2nd Floor, 45 Richardson Street, West Perth Web: www.duketonmining.com.au Western Australia 6005 Duketon Mining Limited | 32
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