Maritana Minerals Limited · ASX:MRT
Maritana Minerals — Horizon Minerals — Shareholder Meeting (November 2024)
28 slides from Maritana Minerals's shareholder meeting presentation, Nov 29, 2024
Slide 1: A Year of Growth
For personal use only A Year of Growth AGM Presentation | November 2024
Slide 2: Important disclaimers
Important disclaimers Nature of Document They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, For personal use only This Prese
Slide 3: Board and Leadership team
Board and Leadership team Ashok Parekh – Non-Executive Chairman Grant Haywood – Managing Director For personal use only • Chartered accountant with over 40 years’ experience who owns a large • Mining Engineer with over 30 years’ experience in underground and open Accounting Practice in Kalgoorlie, w
Slide 4: Our strategy
Our strategy Delivering shareholder value in the strong gold price environment For personal use only Generate cashflow from Apply cashflow towards the Targeted exploration mining projects through a development of our major program to build resources, low capital development cornerstone assets to rep
Slide 5: Key Strategic Achievements and Anticipated Milestones
An active 12 Months Horizon positioned for cashflow and growth For personal use only Key Strategic Achievements and Anticipated Milestones May 2024 May 2024 End of 2023 200kt Toll Milling 1.24 Mt Ore Purchase Divestment of non-core Agreement executed with Agreement executed with Norton tenure yields
Slide 6: Proposed transformational acquisition
Proposed transformational acquisition Horizon proposes to acquire 100% of Poseidon via all-scrip transaction for ~A$30M For personal use only Merger consolidates 1.8Moz Au and highly strategic processing infrastructure for Horizon to transition to the next standalone WA gold producer “Horizon Minera
Slide 7: Horizon Minerals 2.0 – at a glance
Horizon Minerals 2.0 – at a glance Capital structure Units Existing Pro-forma(2) For personal use only Share price $/sh $0.045(3) $0.045 No. of ordinary shares M 1,118.6(3) 1,913.1 Market capitalization $M 50.3 86.1 Cash and cash equivalents $M 1.5(1) 17.7 Debt $M 7.4(1) 7.4 Net cash / (debt) $M (5.
Slide 8: Horizon Minerals 2.0 – strategy
Horizon Minerals 2.0 – strategy 1.8Moz of Resources; 2.2Mtpa processing facility; 1,309km2 of exploration tenure For personal use only • Transformational proposed acquisition of Poseidon’s 2.2Mtpa Black Swan processing facility (currently on care & maintenance) • Estimated replacement value of +$150
Slide 9: A pathway to growth
A pathway to growth The Proposed Transaction reflects a sensible strategy to grow For personal use only Dual track growth strategy to support Horizon’s aim to become a ~100kozpa producer 4 3 Build out the 2 Plant refurbishment mining pipeline 1 Drilling and plant and operations •Continue to drill an
Slide 10: Indicative timetable
Indicative timetable Targeting completion of the Poseidon proposed transaction in February 2025 For personal use only Event Date Execution of Scheme Implementation Deed Thursday, 24 October 2024 Settlement of Placement (Tranche 1) Wednesday, 30 October 2024 Horizon General Meeting to approve Tranche
Slide 11: Portfolio overview
For personal use only Portfolio overview Complementary assets with wide Resource growth potential
Slide 12: Poseidon’s Black Swan processing facility
Poseidon’s Black Swan processing facility 2.2Mtpa processing facility strategically located ~40km north of Kalgoorlie For personal use only • 2.2Mtpa processing facility (C&M) and associated infrastructure with optionality for an initial 1.0 – 1.5Mtpa throughput • Black Swan concentrator readily ame
Slide 13: Poseidon’s Black Swan process facility
Poseidon’s Black Swan process facility Existing flotation circuit and planned changes to facilitate gold production For personal use only Gold conversion Carbon Elution Gold room Au in leach Ag/Zn + Ni Crush Grind Flotation Concentrates Refurbishment Future refurbishment option 13
Slide 14: Horizon’s strong near-term cash flows
Horizon’s strong near-term cash flows +$30M of expected free cash flow from existing agreements to fund growth strategy For personal use only Summary of Boorara Study Key Outcomes – • Binding Ore Sale Agreement executed with Norton Gold Fields for Ore Reserve study Contract pricing @ Measure process
Slide 15: Strong pipeline to support Black Swan
Strong pipeline to support Black Swan Horizon’s 30Mt of existing gold Resources with ~50,000m of drilling budgeted in FY25/261 For personal use only Black Swan Ni Nimbus Zn/Ag Coote Cannon Greater Boorara Crake Burbanks Phillips Find Wilson’s Teal Penny’s Find Boorara Rose Hill Kalpini ~300koz ~700k
Slide 16: Reinvigorated exploration strategy
Reinvigorated exploration strategy Clear focus on improving Resource confidence and growing mineable ounces For personal use only • Resources of 1.8Moz on prolific geological structures around Kalgoorlie / Coolgardie Penny’s Find • Stronger balance sheet will enable faster Resource Black Swan growth
Slide 17: Burbanks project
Burbanks project Significant Resource upside to be unlocked from a key cornerstone asset with scale and grade For personal use only • Located on a granted mining lease 9km south of Coolgardie • Supported by a network of existing infrastructure including grid power and sealed roads • Historic product
Slide 18: Poseidon’s Black Swan – gold prospectivity
Poseidon’s Black Swan – gold prospectivity Untested gold anomalies emerging adjacent to the process plant infrastructure For personal use only • Limited previous gold focused exploration in the area – only 5% of drill assays have tested for gold • Drill intersections grading up to 6.41g/t Au • Wide
Slide 19: Platform for regional consolidation
Platform for regional consolidation >1Moz of gold resources in region are without a clear processing solution For personal use only • Opportunities for non-producers to access third party gold processing infrastructure in the WA Goldfields is becoming increasingly difficult • Conversion of a 2.2Mtpa
Slide 20: Operational timeline
Operational timeline Indicative timeline of upcoming cash flow and pathway to gold from Black Swan For personal use only Target key workstreams 2024 2025 2026 (Forward 18 months) Q4 Q1 Q2 Q3 Q4 Q1 Q2 Boorara Ore Sale – First Gold Production Phillips Find Toll Treatment – First Gold Production Black
Slide 21: Appendices
For personal use only Appendices
Slide 22: Horizon Mineral Resource Estimate
Horizon Mineral Resource Estimate Gold deposits For personal use only Cutoff Measured Indicated Inferred Total Project Au g/t Mt Au g/t Oz Mt Au g/t Oz Mt Au g/t Oz Mt Au g/t Oz Boorara OP 0.5 1.12 1.22 44,000 6.85 1.28 281,000 2.56 1.26 103,000 10.53 1.27 428,000 Burbanks OP 0.5 - - - 1.43 2.00 92,
Slide 23: Horizon Ore Reserve Estimate
Horizon Ore Reserve Estimate For personal use only Cannon Ore Reserve Category Tonnes Au (g/t) Ounces Proven Reserve – – – Probable Reserve 135,000 4.1 17,680 Total Reserve 135,000 4.1 17,680 Boorara Ore Reserve Tonnes Location Reserve Category Au (g/t) Gold Metal (kOz) (Mt) Proved 636.8 1.25 25.7 B
Slide 24: Horizon Mineral Resource Estimate – Nimbus silver-zinc project
Horizon Mineral Resource Estimate Nimbus silver-zinc project For personal use only Nimbus All Lodes (bottom cuts 12 g/t Ag, 0.5% Zn, 0.3g/t Au) Category Mt Ag (g/t) Au (g/t) Zn (%) Ag (Moz) Au (kt) Zn (kt) Measured Resource 3.62 102 0.09 1.2 11.9 10 45 Indicated Resource 3.18 48 0.21 1.0 4.9 21 30 I
Slide 25: Horizon Mineral Resource Estimate – Mt Thirsty nickel-cobalt project
Horizon Mineral Resource Estimate Mt Thirsty nickel-cobalt project (50% Horizon) For personal use only Mt Thirsty (Cut-off Grade 0.25% NiEq%) Tonnes Grade Contained Metal Category Mt Ni (%) Co (%) Mn (%) Ni (‘000t) Co (‘000t) Mn (‘000t) Mt Thirsty Main (MTTM) Measured Resource - - - - - - - Indicate
Slide 26: Mineral Resource & Ore Reserve disclosure
Mineral Resource & Ore Reserve disclosure Confirmations For personal use only Horizon’s Gold Mineral Resources The information in this announcement that relates to Horizon’s exploration results and Mineral Resources estimates is extracted from and was originally reported in Horizon’s ASX announcemen
Slide 27: Mineral Resource & Ore Reserve disclosure
Mineral Resource & Ore Reserve disclosure Confirmations For personal use only Poseidon Nickel’s Mineral Resources The information in this presentation that relates to Geology and Mineral Resources is based on information compiled and/or reviewed by Mr John Hicks, who is a Member of the Australasian
Slide 28: Contact
For personal use only Contact Grant Haywood Managing Director and CEO +61 (08) 9386 9534 admin@horizonminerals.com.au www.horizonminerals.com.au PO Box 1064 West Perth WA 6872
Horizon Minerals — Shareholder Meeting (November 2024) on 6ix