Tolu Minerals Limited · ASX:TOK
Tolu Minerals — Investor Presentation (November 2024)
26 slides from Tolu Minerals's investor presentation, November 2024
Slide 1: Tolukuma Project
ASX:TOK, OTCQX:TOLUF ARBN 657 300 359 1-125888 Tolukuma Project Iain Macpherson Nov 2024 This document is not a prospectus and does not contain all of the information that an investor may require in order to make an informed investment. All geological data presented in this document, including, but
Slide 2: Tolu Minerals Strategic Pillars
TOLU MINERALS STRATEGIC PILLARS World Class Explorer Optimized Operations The Right People Enriching Lives Investment of Choice 2
Slide 3: Tolukuma Gold Mine: Papua New Guinea
Tolukuma Gold Mine: Papua New Guinea ➢ PNG is located on the Pacific Ring of Fire. It is host to: ➢ Prolific gold/copper mineralisation ➢ Many operating mines ➢ 100km as the crow flies from Port Moresby ➢ 60 km as the crow flies from the main North- South Hiritano Highway ➢ 35 km as the crow flies f
Slide 4: Tolukuma Gold Mine
Tolukuma Gold Mine ➢ Fully self-contained mine with 20 years’ high-grade gold & silver operating history – circa 1 moz produced at 15g/t Au recovered ➢ Significant Mineral Resource Estimate in place ➢ Huge exploration upside both on and adjacent to the mine and also on the broader Tolukuma Structure
Slide 5: Tolukuma Structure – c. 1,500km2 Exploration Upside
Tolukuma Structure – c. 1,500km2 Exploration Upside 7 exploration licenses on strike and parallel mineralised structures to Tolukuma gold mine Additional EL application underway and a number of further targets Building a material mineral resource pipeline around Tolukuma Potential for a major discov
Slide 6: Tolukuma Mineral Resource Estimate
Tolukuma Mineral Resource Estimate AMC reported an Inferred Mineral Resource as of 18 August 2022:1 ➢ 1.6 M tonnes @ 10 g/t Au and 38 g/t Ag ➢ Contained metal 503 Koz Au and 1.9 Moz Ag ➢ Cut – off grade 3 g/t Domain Tonnes (t) Au (g/t) Ag (g/t) Au (oz) Ag (oz) Zine 488,000 9 43 146,000 673,000 Zine
Slide 7: Near Tolukuma Mine: Gold Prospects
Near Tolukuma Mine: Gold Prospects Based on the MRE tonnes and grades, extension of the Tolukuma vein system 2km to the SSE, grades of the Miliahamba prospect drilling, grades from drilling at Taula, Sisimonda and Kimono, grades and tonnage of the Saki Inferred Resource and trench sampling grades fr
Slide 8: Tolukuma Gold Mine – Airborne MT Survey
Tolukuma Gold Mine – Airborne MT Survey ➢ State of the art geophysics ➢ Electrical resistivity imaging of the top 1 to 1.5km with complementary VLF data providing near surface conductivity information to define geological structures related to gold mineralisation, as well as magnetic data to help ma
Slide 9: Tolukuma Gold Mine – Airborne MT Survey
Tolukuma Gold Mine – Airborne MT Survey ➢ Phase 1 of the Airborne MT survey completed over the Tolukuma, Ipi River and Mt Penck areas, including a higher resolution survey over the ML area ➢ Results at Tolukuma show advanced copper-gold porphyry and gold epithermal mineralising targets ➢ Significant
Slide 10: Tolukuma Gold Mine – Access Road
Tolukuma Gold Mine – Access Road ➢ Complete the remainder of the 70 km access road connecting the mine to the Tapini road and Port Moresby; ➢ Strong community and government support ➢ Work commenced in December 2023 after the completion of the IPO; ➢ The contractor is an experienced and credible civ
Slide 11: Issues and Solutions
ISSUES AND SOLUTIONS The previous failure of the Tolukuma Gold Mine was underpinned by four key factors – Tolu is addressing all four factors ➢ High historical logistics costs – Access road construction The Mine was 100% supported by helicopter logistics because the access road was never completed,
Slide 12: Tolukuma Development Strategy
Tolukuma Development Strategy Dec 2023 Dec 2024 Near Mine Exploration Exploration MT Survey Strategy Regional Exploration Access Road development Base Line Study Planning Engineer, Procure, Construct full scale Tailings, HV reticulation, Resource Targets, Process Plant and TMS Mine planning, Process
Slide 13: Development Strategy: Progress
Tolukuma Development Strategy: Progress ➢ Near mine exploration: ➢ Phase 1 airborne MT: flying complete over Tolukuma regional, Ipi River & Mt Penck, completed c. 1000 km2 ➢ Secondary analysis underway – 80% ➢ Taula drill campaign completed ➢ Drilling commenced on ML 104 ➢ Access road: first access
Slide 14: Development Strategy: Progress
Tolukuma Development Strategy: Progress ➢ Site mobilisation: ➢ Accommodation: 95 beds, clinic completed, mess, office – 80% ➢ Fuel storage – tank refurbishment completed, reticulation piping underway ➢ Assay laboratory: commissioned, calibration underway – 90% ➢ Preparation ➢ Plant fabrication compl
Slide 15: Gold Plant Optimisation
Gold Plant Optimisation ➢ Low opex start up ➢ Modular and expandible ➢ Recovery enhancement opportunities Early return to production and revenue contribution 15
Slide 16: Tolukuma Gold Mine – Gold Plant
Tolukuma Gold Mine – Gold Plant ➢ Site preparation complete ➢ Plant fabrication 100% complete, installation underway ➢ Commissioning and first production: December 2024 First production December 2024 16
Slide 17: Dewatering
Dewatering ➢ Early start through innovative siphoning ➢ Reduced the pumping load (and cost) by an estimated +30% ➢ Pumping now commissioned to accelerate dewatering ➢ Will extend siphoning system to maintain levels once the Phase 1 dewatering objective is met Dewatering well advanced 17
Slide 18: Dewatering
Dewatering ➢ Upper-level dewatering to enable commencement of production and underground diamond drilling exploration reached 1550 level ➢ Pumps being relocated to final position for dewatering of Fundoot Production areas accessed 18
Slide 19: Mining
Mining ➢ Accessing upper workings ➢ Face and stockpile sampling completed ➢ Refurbishment of rockdrills underway ➢ Establishing crews ➢ Mobile equipment refurbishment underway, supplemented by new orders ➢ Ventilation survey completed ➢ First production Q4, 2024 Measured ramp up to rebuild face inve
Slide 20: Mine planning – new workings shown
Mine planning – new workings shown Measured ramp up to rebuild face inventory 20
Slide 21: ASX:TOK, OTCQX:TOLUF – Capital raised since IPO
ASX:TOK, OTCQX:TOLUF Since IPO, Nov 23 23 Nov 24 ➢ Tolu have raised circa AU$67 million: ➢ OTC quotation, which: ➢ AU$11.3 pre-IPO @ AU$0.37 ➢ Broadens market exposure ➢ AU$17.3 IPO @ AU$0.50 ➢ Increases US participation ➢ AU$2.2 – stock component of road contract on ➢ Broadens shareholder base comp
Slide 22: Contacts
Contacts Iain Macpherson +27 76 238 4461, + 61 428 912 245, +675 7202 7320 MD & CEO iain.macpherson@toluminerals.com Vern Wills +61 418 912 664 Strategic Corporate Advisor vern.wills@enhance.net.au 22
Slide 23: Disclaimer and Important Information
Disclaimer and Important Information Important notice These presentation slides (the “Slides”) have been issued by Tolu Minerals Limited (the “Company” or “Tolu”) in relation to an update on activities by the Company. These Slides do not comprise an admission document, listing particulars or a prosp
Slide 24: Disclaimer and Important Information
Disclaimer and Important Information Investment risks All investments in securities are subject to known and unknown risks, including an investment in Tolu shares. Some of these risks are beyond the control of Tolu and its directors and officers, and Tolu does not guarantee any particular rate of re
Slide 25: Disclaimer and Important Information
Disclaimer and Important Information Disclaimer To the maximum extent permitted by law, the Company each of its respective related bodies corporate, shareholders and affiliates, and each of their respective officers, directors, partners, employees, representatives, affiliates, agents, consultants an
Slide 26: Disclaimer and Important Information
Disclaimer and Important Information Competent Persons Statement The information in this presentation that relates to Exploration Results, Mineral Resources and Ore Reserves were last reported by the Company in compliance with the 2012 Edition of the JORC Australasian Code for Reporting of Explorati
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