Slide 1: Green Bay Copper-Gold Investor Presentation
INVESTOR PRESENTATION I August 2023 GREEN BAY COPPER-GOLD ASX : AUT A high-grade ready-to-go copper-gold mining project with world class exploration upside in Newfoundland, Canada ‣ Company led by former Bellevue Gold and Northern Star executives with a proven track record ‣ Targeting large scale ra
Slide 2: Disclaimer & Cautionary Statements
Not for release to US wire services or distribution in the United States DISCLAIMER & CAUTIONARY STATEMENTS This presentation has been prepared by Auteco Minerals Limited (the Company) based on information from its own and third party sources and is not a disclosure document. No party other than the
Slide 3: Not Investment Advice
NOT INVESTMENT ADVICE Each recipient of the presentation should make its own enquiries and investigations regarding all information in this presentation including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of the Company and the impact that
Slide 4: Green Bay Copper Gold Project – A Transformational Acquisition
GREEN BAY COPPER GOLD PROJECT – A TRANSFORMATIONAL ACQUISITION Overview ‣ A significant ready-to-go underground copper-gold mine in Newfoundland, Canada ‣ Rapid and immediate resource growth potential ‣ Aim to significantly up-scale the operation to match an up-scaled ore body THE OPPORTUNITY ‣ Exce
Slide 5: Board and Management
BOARD AND MANAGEMENT A Leadership team with proven success in the resources sector Maddison Cramer JOINT COMPANY SECRETARY Bellevue Gold, Midas Minerals, Cygnus Metals William Nguyen Kevin Tomlinson CHIEF FINANCIAL OFFICER & Ray Shorrocks Steve Parsons Michael Naylor Darren Cooke PROPOSED MANAGING D
Slide 6: World Class Copper-Gold Mineralised System
WORLD CLASS COPPER-GOLD MINERALISED SYSTEM Un-mined high-grade ore ready to go, drill hits open in all directions 74.8m @ 9.0% Cu & 2.2g/t Au (R19-745-08)1 19.2m @ 10.3% Cu (R22-795-06)2 20.7m @ 4.4% Cu & 2.1g/t Au (R19-745-04) 22.6m @ 4.4% Cu (R22-795-08)2 34.9m @ 5.8% Cu (R22-795-14)2 18.0m @ 4.6%
Slide 7: Copper Production - Tonnes
COPPER PRODUCTION - TONNES CY 2022 (Actual) - ASX ASX : AUT 50,000 0 100,000 Mount Carlton (Navarre) Savannah (Panoramic) Peak (Aurelia) Ming Mine Antas (BHP) Nova-Bollinger (IGO) Eloise (AIC Mines) Telfer (Newcrest) Exceptional exploration potential Golden Grove (29 Metals) Tritton (Aeris) 1. Data
Slide 8: Investment Highlights
INVESTMENT HIGHLIGHTS A low-cost acquisition that transforms AuTECO into a leading ASX copper-gold developer UPSIDE MINES RESOURCES INFRASTRUCTURE Significant Resource Growth Operationally ready UG mine High Grade Copper-Gold +A$250M of Infrastructure ‣ Fully permitted operation ‣ Mineralisation is
Slide 9: One of the Best Mining Jurisdictions Globally
ONE OF THE BEST MINING JURISDICTIONS GLOBALY Newfoundland is a top 4 jurisdiction for mining investment FRASER INSTITUTE 2022 SURVEY NEWFOUNDLAND Mining Investment Attractiveness Index1 First Class Location with Year-Round Access Nevada Western Australia Saskatchewan Newfoundland and Labrador Colora
Slide 10: World-Class Exploration Upside – Ready to Drill Targets
WORLD-CLASS EXPLORATION UPSIDE – READY TO DRILL TARGETS Immediately creating Long-section through Ming mine looking east A value through drilling surface Underground Decline ‣ Lower Footwall Zone - OPEN Drill Intersection >0.7% Cu ‣ Deepest hole in the system is 102m @ 1.7% Cu - OPEN 74.8m @ 9.0% Cu
Slide 11: Creating Immediate Value with the Drill Bit
CREATING IMMEDIATE VALUE WITH THE DRILL BIT Long-section through Ming mine looking east surface Drill, drill and drill Underground Decline ‣ Leverage experience regrowing Drill Intersection >0.7% Cu the mine through drilling (Bellevue Gold) 74.8m @ 9.0% Cu & 2.2g/t Au ‣ Multiple drill ready UG (R19-
Slide 12: Targeting Significant & Rapid Resource Growth
TARGETING SIGNIFICANT & RAPID RESOURCE GROWTH Phase 1 Resource Growth Long-section through Ming mine looking east Surface ‣ Immediate drill testing of: Underground Decline ‣ Up-plunge extensions Drill Intersection >0.7% Cu ‣ VMS mine extensions ‣ LFWZ mine extensions 74.8m @ 9.0% Cu & 2.2g/t Au (R19
Slide 13: Mining Depths in Canada – Significant Scope to Grow
MINING DEPTHS IN CANADA – SIGNIFICANT SCOPE TO GROW ‣ The Ming Mine is relatively shallow in comparison to other underground operations in Canada ‣ Low regional stress conditions allow for much deeper mining than in Western Australia ‣ Less than half the regional rock stress levels (less ground supp
Slide 14: Green Bay Project Over A$250M of Mines and Infrastructure
GREEN BAY PROJECT OVER A$250M OF MINES AND INFRASTRUCTURE Ming Cu-Au Mine Complex Nugget Pond Processing Plant ‣ Ming Mine ‣ Conventional 500ktpa / 1,500tpd ‣ Current Resource1 30.2Mt @ 1.81% Cu & Nugget Pond Plant crushing, grinding and flotation circuit 0.5g/t Au for 634kt @ 2.1% CuEq (68% M&I) an
Slide 15: Ready to Drill Targets - Significant News Flow
READY TO DRILL TARGETS - SIGNIFICANT NEWS FLOW Rapid resource and mine growth over next 18 months Phase 1 Immediate Program Milestone1 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 PHASE 1 PROGRAM Growing the VMS & Lower Footwall Zone UG Drilling - Upper extensions ‣ UG drill platforms ready
Slide 16: A Game Changing Catalyst Rich High-Grade Opportunity
A GAME CHANGING CATALYST RICH HIGH-GRADE OPPORTUNITY Building a new diversified high-grade copper–gold ASX company GREEN BAY COPPER GOLD PROJECT PICKLE CROW THE LOCATION THE ASSET THE OPPORTUNITY GOLD PROJECT Ontario, Canada Inferred Resource ‣ Globally one of the best ‣ Fully permitted operational
Slide 17: Equity Raising Overview
Equity Raising Overview
Slide 18: Equity Raising Overview
EQUITY RAISING OVERVIEW ‣ Two-tranche institutional placement to raise A$50 million (before costs) ("Placement" or "Offer") ‣ The Placement will comprise the issue of approximately 2 billion new fully paid ordinary shares ("New Shares") ‣ Tranche 1 to raise approximately A$8.7 million utilising the
Slide 19: Sources and Uses
SOURCES AND USES Sources A$M Existing Cash (30 June 2023) 6.3 SPP Up to 3.0 Placement Proceeds 50.0 Total Sources Up to 59.3 Uses A$M Cash Consideration for Acquisition 35.0 Underground Development & Site Costs 8.0 Resource & Exploration Expansion Drilling 9.0 Working Capital and Costs of the Offer
Slide 20: Pro-Forma Capital Structure
PRO-FORMA CAPITAL STRUCTURE Units Current Pro-Forma No. of Ordinary Shares1,4 M 2,312.8 5,032.8 Market Capitalisation at Offer Price1 A$M 57.8 125.8 Cash and Equivalents1,2,3 A$M 6.3 24.3 Debt2 A$M 0.0 0.0 Net Cash2 A$M 6.3 24.3 Enterprise Value1,2,3,4 A$M 51.5 101.5 1. Assumes A$50 million raised u
Slide 21: Indicative Equity Raising Timetable
INDICATIVE EQUITY RAISING TIMETABLE Event Date Announcement of Equity Raising and launch of Placement bookbuild Thursday, 31 August 2023 Announce completion of Placement bookbuild, exit voluntary suspension and recommencement of Monday, 4 September 2023 trading Lodge Prospectus for the SPP Offer Wed
Slide 22: Supplementary Information
SUPPLEMENTARY INFORMATION ‣ Appendix 1. Pickle Crow Gold Deposit 2.8Moz @ 7.2g/t Gold ‣ Appendix 2. Permitting in Newfoundland & Labrador ‣ Appendix 3. Geology & Mineralisation ‣ Appendix 3. Exploration Targeting ‣ Appendix 4. Little Deer Cu-Au Complex ‣ Appendix 5. Mine and Processing Infrastructur
Slide 23: Pickle Crow Gold Deposit – The Perfect Addition
Appendix 1: PICKLE CROW GOLD DEPOSIT – THE PERFECT ADDITION One of the highest grade +2Moz Gold Resources with strong potential to grow LOCATION THE ASSET – PICKLE CROW UPSIDE ‣ Operating in a Tier 1 mining ‣ High-grade gold production of ‣ 2.8Moz @ 7.2g/t gold. jurisdiction, Ontario Canada 1.5Moz @
Slide 24: An Exceptional Asset in a World-Class Location
AN EXCEPTIONAL ASSET IN A WORLD-CLASS LOCATION Pickle Crow Gold Deposit Is Surrounded By World-Class Gold Mines ASX : AUT 24
Slide 25: Significant Shallow Open Pit Potential
SIGNIFICANT SHALLOW OPEN PIT POTENTIAL Significant Potential to Grow the 2.8Moz @ 7.2g/t Resource ‣ Potential for Open Pit as well as Underground mining at the Pickle Crow Deposit ‣ Significant proportion of resource shallow from surface ‣ Over 1Moz above 0.5g/t in the top 250 metres ‣ Extensive sha
Slide 26: Huge Discovery Potential – An Entire Mineral District
HUGE DISCOVERY POTENTIAL – AN ENTIRE MINERAL DISTRICT EXCEPTIONAL UPSIDE ‣ First time entire Pickle Crow district held by one company ‣ Over 46km of strike to be tested ‣ Regional systematic geochemical sampling underway ‣ Low-cost discovery potential ‣ Numerous high priority walk up targets ASX : A
Slide 27: Permitting in Newfoundland – Valentine Gold Project
APPENDIX 2 – PERMITTING IN NEWFOUNDLAND Case Study – Valentine Gold Project Marathon Gold, Newfoundland ‣ Developing the Marathon-Leprechaun Mine Complex ‣ A Large open pit and 3Mtpa Mill ‣ Greenfields site – no previous mining ‣ EA process completed in only 2.5 years ‣ Newfoundland government appro
Slide 28: Permitting in Newfoundland
APPENDIX 2 – PERMITTING IN NEWFOUNDLAND Strong government support and leveraging existing permits to fast-track any future expansion The Federal Environmental Assessment (EA) Process Impact Assessment Act 2019 ‣ In Canada, approvals are Province-based, however for large-scale ‣ The Federal EA can be
Slide 29: Geology and Mineralisation
APPENDIX 3 – GEOLOGY AND MINERALISATION Exceptional potential for discovery of significant further Copper-Gold deposits GEOLOGICAL MODEL1 VMS MINERALISATION – Ming, 1806, 1807 Zones ‣ Ordovician aged seafloor volcanic system ‣ Copper-rich high grade (+5% Cu) ‣ Classic Volcanogenic Massive Sulphide m
Slide 30: Exploration Targeting
APPENDIX 3 – EXPLORATION TARGETING MING DEPOSIT MODEL HIGHLIGHTS EXCEPTIONAL EXPLORATION UPSIDE1 EXPLORATION OPPORTUNITY Ming North ‣ Limited exploration has been conducted 1806 Parallel VMS in the past 40 years – a key opportunity 1807 zones untested Ming South ‣ Downhole geophysics is a powerful e
Slide 31: Nearby Little Deer Cu-Au Complex
APPENDIX 4 – NEARBY LITTLE DEER Cu-Au COMPLEX An unrealised opportunity with significant growth upside TWO HISTORICAL MINES WITH NO MODERN EXPLORATION ‣ Little Deer and Whalesback deposits mined between 1960 and 1972 (historic production of 3.8Mt @ 1% Cu) ‣ Significant land holding (~90km2) Untested
Slide 32: Ming Cu-Au Underground Mine – Ready to Go
APPENDIX 5 - MING Cu-Au UNDERGROUND MINE – READY TO GO! Operational Ready Underground Mine Mine Portal Excellent Underground Conditions ‣ Operating until the previous company entered administration in February 2023 ‣ Decline accessible to 1,000m ‣ Operational pumping system, vent fans & heating ‣ Pr
Slide 33: Processing Infrastructure
APPENDIX 5 – PROCESSING INFRASTRUCTURE Fully permitted 500ktpa processing plant and port facility Metallurgically Simple Standard Processing Method with HYDROMET PLANT CONCENTRATOR PLANT 96% Historic Copper Recovery Crushing Floatation Tailings Dam & Polishing ‣ 2 stage Jaw and ‣ Standard copper Con
Slide 34: Learning from the Past - An Opportunity
APPENDIX 6 – LEARNING FROM THE PAST - AN OPPORTUNITY GROWING THE RESOURCE AND OPERATING AT THE RIGHT SCALE ‣ Two key areas have prevented the past success of the Ming operation – Orebody definition and a high-cost structure driven by inappropriately sized infrastructure relative to the orebody tonne
Slide 35: Learning from the Past – An Opportunity
LEARNING FROM THE PAST – AN OPPORTUNITY EXAMPLE OF POOR PRE-MINING DEFINITION DRILLING Stope Cross Section 1 ‣ The 760L Lower Footwall drive was mined prior to grade control drilling 760L ‣ In-drive drilling identified significant mineralisation in the Post Development Drilling footwall originally n
Slide 36: Macro Copper Landscape
APPENDIX 7 – MACRO COPPER LANDSCAPE AuTECO is well positioned to capitalise on the structural deficit in copper supply driven by the explosion in demand driven by global decarbonisation technologies GLOBAL COPPER CONSUMPTION COPPER USE IN ENERGY DECARBONISATION FORECAST1 TECHNOLOGY1 60Mt 50Mt Copper
Slide 37: Macro Copper Landscape
APPENDIX 7 – MACRO COPPER LANDSCAPE ‣ There are not enough copper mines in the world to THE ELECTRIC VEHICLE REALITY A battery EV uses nearly 4 times more copper than an ICE2 meet forecast demand driven by decarbonization Internal Combustion Hybrid EV Battery EV ‣ Copper grades are dropping, mines a
Slide 38: CY 2022 Copper Production (Tonnes)
CY 2022 Copper Production (Tonnes) ASX : AUT 100,000 120,000 140,000 0 20,000 40,000 60,000 80,000 Mount Carlton (Navarre) Savannah (Panoramic) Peak (Aurelia) Antas (BHP) Nova-Bollinger (IGO) Eloise (AIC Mines) Telfer (Newcrest) Golden Grove (29 Metals) Tritton (Aeris) Capricorn (29 Metals) Red Chri
Slide 39: 2022 Copper Production Data
2022 COPPER PRODUCTION DATA S&P GLOBAL – 2022 Asset Copper Production Source Data 2022 Cu PROPERTY CURRENT OWNER PRODUCTION SOURCE DATA (Tonnes) Mount Carlton Navarre Minerals Ltd. 1,838 https://minedocs.com/23/Navarre-PR-06302022.pdf Peak Aurelia Metals Ltd. NA https://www.listcorp.com/asx/ami/aure
Slide 40: 2022 Copper Production Data
2022 COPPER PRODUCTION DATA S&P GLOBAL – 2022 Asset Copper Production Source Data (Continued) 2022 Cu PROPERTY CURRENT OWNER PRODUCTION SOURCE DATA (Tonnes) Copper Mountain Hudbay Minerals Inc. 23,996 https://www.prnewswire.com/news-releases/copper-mountain-mining-announces-fourth-quarter-and-full-y
Slide 41: AuTECO Resources
APPENDIX 9 – AuTECO Resources Mineral Resources – Green Bay Copper – Gold Project1 Measured Indicated Inferred TOTAL RESOURCE MING MINE Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Copper 1.71% 144kt 1.85% 284Kt 1.86% 120kt 1.81% 547kt Gold 8.4Mt 0.5g/t 124koz 15.3Mt 0
Slide 42: ESG is the Cornerstone of AuTECO's Business
APPENDIX 10 – ESG IS THE CORNERSTONE OF AuTECO’S BUSINESS ‣ Commitment to baseline monitoring and Sustainability is at the forefront Environment progressive rehabilitation ‣ Minimisation of disturbance, maintaining a healthy ecosystem ‣ Improve what AuTECO inherited (legacy site) ‣ Agreement signed
Slide 43: Key Risks
APPENDIX 11 – KEY RISKS Risk factors This section identifies the areas that the directors regard as the major risks associated with an investment in the Company. Investors should be aware that an investment in the Company involves many risks, which may be higher than the risks associated with an inv
Slide 44: Key Risks
APPENDIX 11 – KEY RISKS Resource Estimation Risk: There is inherent uncertainty with mineral resource estimates. In addition, there is no guarantee that inferred mineral resource estimates can successfully be converted to indicated or measured mineral resource estimates to allow potential reserve es
Slide 45: Key Risks
APPENDIX 11 – KEY RISKS Tenure risk Interests in tenements in Australia and Canada are governed by legislation and are evidenced by the granting of licenses or leases (or similar). Each license or lease is for a specific term and has annual expenditure and reporting commitments, together with other