Musgrave Minerals — Investor Presentation (November 2022)
39 slides from Musgrave Minerals's investor presentation, Nov 25, 2022
Slide 1: Cue Gold Project Western Australia – Equity Raising Presentation
Musgrave Minerals Limited ACN 147 890 671 Cue Gold Project Western Australia Rob Waugh Managing Director ASX: MGV INVESTOR UPDATE EQUITY RAISING PRESENTATION 25 NOVEMBER 2022
Slide 2: Disclaimer
DISCLAIMER Important – you must read the following before continuing. The following notices and disclaimers apply to this presentation (“Presentation”) and you are The New Shares may not be offered or sold, in the United States unless they have been registered therefore advised to read this carefull
Slide 3: Disclaimer
DISCLAIMER Financial data change without notice, as are statements about market and industry trends, projections, guidance and estimates. Forward-looking statements are provided as a general guide only. The forward- All dollar values are in Australian dollars (A$ or AUD) unless otherwise stated. Amo
Slide 4: Disclaimer
DISCLAIMER JORC Code and Mineral Resources regarding, any part of this Presentation and make no representation or warranty as to the currency, accuracy, adequacy, reliability or completeness or fairness of any statements, It is a requirement of the ASX Listing Rules that the reporting of ore reserve
Slide 5: Musgrave Capital Raising Summary
MUSGRAVE CAPITAL RAISING SUMMARY Placement and Share Purchase Plan to raise A$10 million Offer Structure and Size • Placement of fully paid ordinary shares in MGV (“New Shares”) to corporate, institutional and sophisticated investors to raise up to $8 million (“Placement”). • Musgrave also proposes
Slide 6: Proposed Timetable - Share Purchase Plan
PROPOSED TIMETABLE - SHARE PURCHASE PLAN DATE* EVENT 24 November 2022 Record date for Share Purchase Plan 25 November 2022 Announcement of Share Purchase Plan 2 December 2022 Despatch of Offer documents to Eligible Musgrave Shareholders 2 December 2022 Opening Date 20 December 2022 Closing Date 29 D
Slide 7: Musgrave Capital Raising
MUSGRAVE CAPITAL RAISING INDICATIVE CAPITAL STRUCTURE POST RAISE* Current fully paid ordinary securities on issue in Musgrave (“Shares”)** 540,622,949 Placement Shares to be issued 40,000,000 SPP Shares to be issued 10,000,000 Shares on issue immediately post the Offer** 590,622,949 INDICATIVE USE O
Slide 8: 2023 Objectives
2023 OBJECTIVES TARGETING HIGH-GRADE SYSTEMS AND STAND-ALONE GOLD PRODUCTION Exploration Development Deliver robust Stage 1 Drill test targets on Prefeasibility Study for 100% MGV tenure the potential first initial with an aim to deliver years of production, new discoveries and utilising part of the
Slide 9: Corporate Overview
CORPORATE OVERVIEW ASX Code MGV Current Holdings of Top Shareholders Shares on Issue ~540.6M Options 25.87M Westminex Group Share Price (22 Nov 2022) $0.23 9.5% HSBC Custody Nominees 8.7% (Australia) Limited Cash on Hand (Sept 2022) ~$7.3M Securities Held (LEG, CYM) ~$0.5M 8.4% Jetosea Pty Ltd Debt
Slide 10: Board and Management
BOARD AND MANAGEMENT Managing General Manager Exploration Director Development Manager Rob Waugh Anthony Buckingham Jonathan Gough MSc, BSc, BEng, MAusIMM, MSc, MAIG FAusIMM, MAIG Non-Executive Non-Executive Non-Executive Non-Executive Chairman Director Director Director Graham Ascough Kelly Ross Jo
Slide 11: Excellent Infrastructure – Development Options
EXCELLENT INFRASTRUCTURE – DEVELOPMENT OPTIONS Great Location • Surrounded by significant gold producers (Ramelius, Westgold, Silver Lake) • Excellent road infrastructure Strategic Appeal • Progressing towards standalone operation • Exploration upside • EVN JV currently funding lake exploration • St
Slide 12: ESG (Environment, Social & Governance)
ESG (ENVIRONMENT, SOCIAL & GOVERNANCE) Assessing alternative power Environment Minimise our carbon footprint. options Regularly monitor and strive to continually Minimise disturbance and improve our environmental performance. rehabilitation Consult and communicate openly with Open communication and
Slide 13: Total Minerals Resource
TOTAL MINERALS RESOURCE Cue Gold Project • 12.3mt @ 2.3g/t Au for 927koz Au Lena & Break of Day Oblique View This includes near-surface, High-grade Break of Day Trend • 982kt @ 10.4g/t Au for 327koz Au • 47% of total Resources in Indicated category • Big Sky and White Heat-Mosaic deposits only drill
Slide 14: White Heat-Mosaic Deposit – 300m South of Break of Day
WHITE HEAT-MOSAIC DEPOSIT – 300M SOUTH OF BREAK OF DAY • Mineral Resource Estimate • 185kt @ 11.0g/t Au for 65koz Gold 80% Indicated category • Two main lodes • Near-surface high-grade intersections: • 15m @ 111.6g/t Au (21MORC232) • 9m @ 110.5g/t Au (21MORC414) • 7m @ 149.7g/t Au (22MORC130) • 4m @
Slide 15: White Heat-Mosaic Deposit – Long Sections
WHITE HEAT-MOSAIC DEPOSIT – LONG SECTIONS ASX: MGV | Musgrave Minerals Limited
Slide 16: Starlight Analogues – New Targets
STARLIGHT ANALOGUES – NEW TARGETS New discoveries have increased the search space Discovery upside potential with multiple regional targets formulating pipeline High-grade gold identified across multiple new prospects – more to find New >6,000m follow- up RC/Diam drilling programs commenced Nov Sign
Slide 17: Gold Corridors & Regional Targets
GOLD CORRIDORS & REGIONAL TARGETS East Numbers Target • >1.3km strike – gold anomalism in regolith • New zone – no RC drill testing to date Amarillo Target – no resource yet • 11m @ 8.4g/t Au from 66m (21MUAC103) • 7m @ 23.7g/t Au from 102m (22MORC060) Waratah Trend – no resource yet • 400m east of
Slide 18: Big Sky Deposit
BIG SKY DEPOSIT Near-surface gold mineralisation • Mineral Resource Estimate • 4.65Mt @ 1.2g/t Au for 173koz Gold 28% Indicated category • Multiple lodes – First phase of infill drilling completed • Near-surface intersections outside current resource: • 4m @ 20.9g/t Au from 19m (22MORC159) • 3m @ 10
Slide 19: Waratah Trend
WARATAH TREND New mineralisation – potential for resource growth • 4km trend – only partially drill tested • >400m combined strike of two main mineralised zones (zones 1 & 2) • 2m @ 28.1g/t Au from 78m (21MORC359) • 3m @ 9.8g/t Au from 12m (21MORC231) • 4m @ 29.9g/t Au from 17m (21MORC228) • Not in
Slide 20: Amarillo Prospect
AMARILLO PROSPECT Near-surface gold mineralisation • Two parallel, sub-vertical gold lodes - >400m strike • 7m @ 23.7g/t Au from 102m (22MORC060), incl. • 1m @ 118g/t Au from 107m • 9m @ 8.7g/t Au from 44m (21MORC371) • 23m @ 4.2g/t Au from 26m (21MORC185) • Not in current resource 20 ASX: MGV | Mus
Slide 21: PFS Level Studies
PFS LEVEL STUDIES Cue Gold Project – Development Works • Recent Mineral Resource upgrade provides confidence to progress standalone development • PFS process commenced to unlock resource value • The high-grade Break of Day Trend deposits provide focus on higher margins • Opportunity for further disc
Slide 22: Stage 1 PFS
STAGE 1 PFS Cue Gold Project – Development Works Program Total Mineral Resource Estimate May 2022 – 12.3Mt @ 2.3g/t for 927koz Stage 1 PFS is focused on Moyagee Indicated Resources – 4.4Mt @ 2.9g/t for 417koz Mineral Resource Shells Completed Infill Drilling within Mineral Resource Shells Underway T
Slide 23: Gold Targets – Lake Austin (EVN JV)
GOLD TARGETS – LAKE AUSTIN (EVN JV) • EVN JV – Evolution can spend $18M in 5yrs to earn 75% • EVN managing JV and ongoing budget • Multiple new high priority gold targets under variable thickness dune and lake cover • Basement gold mineralisation intersected at West Island and Lake Austin North targ
Slide 24: West Island – Lake Austin (EVN JV)
WEST ISLAND – LAKE AUSTIN (EVN JV) • Target >1.6km long with extensive gold in regolith below lake cover – Dolerite host • Oxide gold mineralisation up to 150m wide over an extensive area – Best oxide intercepts include: • 53m @ 2.0g/t Au from 108m (21MOAC025) • Basement gold intercepts include: • 4
Slide 25: New Tenure – Mt Magnet South Project
NEW TENURE – MT MAGNET SOUTH PROJECT • Company growth opportunity • Multiple untested targets – and very limited historical exploration • 294 km2 area • Synergies with Cue Project • Creates a long-term pipeline of opportunities • Ability to fully utilize exploration strengths and apply learnings fro
Slide 26: Scheduled Work Plan
SCHEDULED WORK PLAN Cue Gold Project Q4 2022 Q1 2023 Resource infill and extensional drilling (Waratah and Amarillo) Resource infill and extensional drilling (Big Sky) Aircore/RC follow-up drilling - new regional targets (East Numbers) Metallurgical test work results (White Heat-Mosaic & Big S
Slide 27: Grade + Resources + Recovery, Infrastructure + Location + Exploration Upside
GRADE + RESOURCES + RECOVERY INFRASTRUCTURE + LOCATION + EXPLORATION UPSIDE • Total Mineral Resources • 12.3mt @ 2.3g/t Au for 927koz Au (47% Indicated) …and potential to grow • High-grade Trend (near-surface) • High value near-surface component of those resources 982kt @ 10.4g/t Au for 327koz Au •
Slide 28: Key Risks
KEY RISKS Funding Risks The Company has entered into a funding mandate with Canaccord Genuity (Australia) Limited The above factors may have an adverse effect on the Company’s exploration activities and the (“Canaccord”), Euroz Hartleys Limited (“Euroz Hartleys”) and Veritas Securites Limited (“Veri
Slide 29: Key Risks
KEY RISKS Infectious Disease and COVID-19 risks Access risks The global economic outlook is uncertain due to the prevailing COVID-19 pandemic, which could It is also possible that, in relation to tenements which the Company has an interest in or will in the continue to have, a significant impact on
Slide 30: Key Risks
KEY RISKS Tax law and application Company accepts no liability or responsibility with respect to tax consequences for investors. Potential investors should consider that the investment in the Company is highly speculative and The application of and changes in relevant tax laws (such as income tax, g
Slide 31: Key Risks
KEY RISKS Exploration risks Company's granted tenements and tenement applications in Western Australia are subject to, without limitation, the Mining Act 1978 (WA) and Mining Regulations 1981 (WA), while the The Company’s tenements (including those for which it may have rights to acquire) include a
Slide 32: Key Risks
KEY RISKS Health, safety and security risks Company’s operations more expensive. Approvals are required for mining, land clearing and for all ground disturbing activities. Delays in obtaining such approvals can result in the delay to Mining activities have inherent hazards and risks. The Company is
Slide 33: Additional Information
ADDITIONAL INFORMATION 33 ASX: ASX:MGV MGV | |Musgrave Musgrave Minerals Minerals Limited Limited
Slide 34: Gold Resources
GOLD RESOURCES JORC Mineral Resources (Indicated and Inferred) * As at 31 May 2022 Gold Mineral Resources are compliant with JORC 2012 and reported by Musgrave Minerals Ltd (MGV) in ASX announcements dated 31 May 2022, and Cyprium Metals Limited (CYM) in its ASX announcement dated 29 September 2020.
Slide 35: JORC Gold Mineral Resources - May 2022
JORC GOLD MINERAL RESOURCES - 31 MAY 2022 Indicated Resources Inferred Resources Total Resources Notes to Table: The Mineral Resources are produced in accordance with the 2012 Edition Deposit Tonnes Au Grade Total oz. Au Tonnes '000s Au Grade Total oz. Au Tonnes Au Grade g/t Total oz. of the Austral
Slide 36: Copper Resources
COPPER RESOURCES JV agreement with Cyprium Metals Ltd Copper resources at Hollandaire Tonnes Cu Cu Hollandaire Copper* (Mt) (%) (Tonnes) Indicated Resources 2.179 2.0 42,200 Inferred Resources 0.605 1.6 9,300 Total 2.784 1.9 51,500 Opportunity to seek to discover new copper- zinc resources: • Mt Eel
Slide 37: Competent Person's Statement
COMPETENT PERSON’S STATEMENT Mineral Resources The information in this report that relates to Mineral Resources for the Break of Day, Lena, White Heat-Mosaic, Big Sky, Numbers, Leviticus, Jasper Queen, Gilt Edge, Rapier South and the Hollandaire Gold Cap deposits is based on information compiled by
Slide 38: Additional JORC Information
ADDITIONAL JORC INFORMATION Further details relating to the information provided in this Presentation can be found in the following Musgrave Minerals’ ASX announcements: • 21 November 2022, “Encouraging gold intercepts continue at Big Sky” • 8 November 2022, “2022 AGM Presentation” • 7 November 2022
Slide 39: International Offer Jurisdictions
INTERNATIONAL OFFER JURISDICTIONS This document does not constitute an offer of new ordinary shares ("New Shares") of the United Kingdom Company in any jurisdiction in which it would be unlawful. In particular, this document may not Neither this document nor any other document relating to the offer
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