Vault Minerals Limited · ASX:VAU
Vault Minerals — Q2 2024 Earnings Presentation
20 slides from Vault Minerals's earnings presentation, Jan 31, 2024
Slide 1: December 2023 Quarterly Results
rsonal use only December 2023 Quarterly Results Richard Hay (COO), David Coyne (CFO) 31 January 2024 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence
Slide 2: Competent Person's Statement and Disclaimer
Competent Person’s Statement and Disclaimer Competent Person Statements for JORC 2012 Mineral Resource and Ore Reserves ● The information in this presentation that relates to the Mineral Resources for the King of the Hills deposit is extracted from the ASX announcement titled “Mineral Resource and O
Slide 3: Red 5 asset overview
Red 5 asset overview Red 5’s assets comprise the King of the Hills (KOTH) Gold Mine, Darlot Gold Mine and a 3.25% net smelter royalty over the Siana Gold Mine KOTH Summary rsonal use only Mineral Resource5 4.5Moz 2H FY2023 Production6 103koz Ore Reserve5 2.5Moz Indicative Production2 >200koz p.a. Pr
Slide 4: December 2023 highlights
December 2023 highlights ● Continued safety improvement, with 12-month TRIFR Quarterly 12-month TRIFR reducing to 4.7 and LTIFR reducing to zero 18 16 Production for the first half (H1) of FY24 was 108,027 ounces rsonal use only ● 14 at an AISC of A$2,008/oz. 12 12-month TRIFR 10 ● 53,018 oz of gold
Slide 5: Mining performance for Dec 2023 Quarter
Mining performance for Dec 2023 Quarter ● KOTH open pit ore remained consistent Quarterly KOTH underground performance ● Stage 2 cutback is ahead of schedule 1.70 1.93 1.79 2.00 300 1.80 1.58 rsonal use only ● KOTH underground continues to perform well with 250 1.60 1.40 stope tonnes exceeding plan
Slide 6: Darlot drilling supports FY25 and FY26 mining plan
Darlot drilling1 supports FY25 and FY26 mining plan ● Grade control and Resource extension drilling at Darlot continues to deliver new mining areas, de-risking FY25 and FY26 mining plans rsonal use only ● For the 6 months to 31 December, 11,748m drilled of 17,500m program planned for FY24 (11,180m d
Slide 7: Financial position at Dec 2023
Financial position at 31 Dec 2023 ● Net debt2 position improved by $18.7m during Cash & Other Liquid Assets Movement A$m the Quarter to $49.5m at 31 Dec 2023 Cash & other liquid assets1 – 30 Sept 2023 44.6 Cash and other liquid assets of $53.3m rsonal use only ● Sales receipts net of hedging 139.7 ●
Slide 8: Operations performance strengthens balance sheet
Operations performance strengthens balance sheet All three mines performing well, with Red 5 historical and scheduled debt balance ● strong cash generation for the Quarter rsonal use only 160 ● $2m voluntary debt repayment, on top of scheduled $8m, sees Red 5’s debt balance 140 Target debt refinanci
Slide 9: Changes to inventory accounting policy
Changes to inventory accounting policy ● LG ore stocks increased over 1Mt in past 6 months Red 5 Low Grade stockpile values rsonal use only ● Projected to continue growing for foreseeable future $45 $40 ● Inventory accounting policy and methodology reviewed and changed in the December Quarter $35 Ba
Slide 10: Standout value opportunity with steady-state operations
Standout value opportunity with steady-state operations ● Red 5 EV/Reserve relative to its peers 2,000 rsonal use only ● Valuation of WA based-gold Ramelius companies1 1,600 Bubble size = Enterprise Value EV / Reserve (A$/oz) Bellevue ● ● The KOTH Gold Mine positions 1,200 Red 5 as an emerging mid-t
Slide 11: Thank you
rsonal use only THANK YOU Level 2, 35 Ventnor Avenue, West Perth, Western Australia 6005 Australia (61-8) 9322 4455 (61-8) 9481 5950 investors@red5ltd.com www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 11
Slide 12: Appendices
rsonal use only Appendicies www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 12
Slide 13: Red 5 Limited – Corporate profile
Red 5 Limited – Corporate profile 0.5 Our Company Vision 0.4 “To be a successful multi-operational rsonal use only 0.3 exploration and mining company, providing benefits to all stakeholders, through the 0.2 consistent application of technical excellence, and responsible and sustainable industry 0.1
Slide 14: Leadership Team with strong mining expertise
Leadership Team with strong mining expertise Red 5 has a strong and capable Board and Executive team with many years of mining and development experience. Following the two retirements at the Nov-23 AGM, the Red 5 Board has five Directors, which the Board believe represents a good fit for the Compan
Slide 15: KOTH geology is well understood - open in all directions
KOTH geology is well understood - open in all directions Jun-23 Mineral Resource1 Jun-23 Ore Reserve1 96.5Mt @ 1.4 g/t for 69.5Mt @ 1.1 g/t for rsonal use only 4.5Moz Au 2.5Moz Au ● Orebody in the contact zone of a substantial Granodiorite intrusion ● 4km long x 2km wide ● Historical understanding f
Slide 16: KOTH Mineral Resource of 4.5Moz
KOTH Mineral Resource of 4.5Moz1 Total Open Pit & Underground KOTH Resource as at June 2023 Cut-off Mining Gold Contained Gold Classification Tonnes (000t) rsonal use only (g/t) Method (g/t) (000oz) Measured 0.4-1.0 OP+UG 4,092 1.1 145 Indicated 0.4-1.0 OP+UG 67,559 1.5 3,286 Inferred 0.4-1.0 OP+UG
Slide 17: KOTH Ore Reserve of 2.5Moz
KOTH Ore Reserve of 2.5Moz1 Total KOTH Ore Reserves as at June 2023 Cut-off JORC 2012 Tonnes Gold Contained Gold Deposit Mining Method (g/t) Classification (Mt) (g/t) (Moz)2 rsonal use only KOTH Open pit 0.4 Proved 4.6 0.8 0.1 KOTH Open pit 0.4 Probable 54.2 1.2 2.0 KOTH Underground 1.4 Probable 2.5
Slide 18: Top Gold Deposits in Australia
Top 20 Gold Deposits in Australia Resources Reserves Mt g/t Moz Mt g/t Moz Cadia 3374 0.4 46.6 Cadia 1280 0.4 17.4 rsonal use only Golden Mile – KCGM 565 1.6 28.3 KCGM (100%) 286 1.3 12.2 Boddington 788 0.6 15.2 Boddington 525 0.6 10.6 Mallina Gold Project 278 1.3 11.7 Mallina Gold Project 121 1.5 6
Slide 19: Australian Top Gold Deposits
Australian Top 20 Gold Deposits1 Resources Reserves Resources Reserves Resources Reserves Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Cadia Newcrest St Ives Goldfields Sunrise Dam AngloGold Ashanti Measured 32.0 0.30 0.3 Proven Measured 0.9 3.30 0.1 Proven 5.9 2.60 0.5 Measured
Slide 20: Thank you
rsonal use only THANK YOU Level 2, 35 Ventnor Avenue, West Perth, Western Australia 6005 Australia (61-8) 9322 4455 (61-8) 9481 5950 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 20