Latitude 66 Limited · ASX:LAT
Latitude 66 — DiscovEx Resources — Merger or Acquisition (April 2024)
28 slides from Latitude 66's merger presentation, April 2024
Slide 1: Transformational Gold-Cobalt Acquisition
CK DiscovEx Resources Limited Transformat Gold-Cobalt Acq April 2024
Slide 2: Disclaimer
Disclaimer Disclaimer This presentation has been prepared by DiscovEx Resources Limited ("Company") in connection with providing general and background information on the Company. This presentation should not be relied upon as a representation of any matter that an advisor or potential investor shou
Slide 3: Transaction Overview
Transaction Overview DCX has entered into a Binding Lat66 has a large portfolio of Agreement to acquire all the advanced gold-cobalt and shares in Latitude 66 Cobalt copper projects in northern Limited (Lat66) Finland DCX has a portfolio of battery & Strategically positioned to precious meta
Slide 4: Balanced portfolio in Tier 1 jurisdictions
Balanced portfolio in Tier 1 jurisdictions Exposure to Gold and Critical Minerals in two of the best mining jurisdictions KSB Greater Duchess JV • JORC Mineral Resource: • 17.5% free-carried interest • 650koz Au & 5,800t Co1 • Copper mineral resources in the KSB Project, • Camp scale potential with
Slide 5: Experienced Board of Directors
Experienced Board of Directors Thomas Hoyer Grant Coyle Toby Wellman Heath Hellewell Prof Steffen Hagemann Proposed Non-Executive Proposed Proposed Non-Executive Proposed Non Chairman Managing Director Technical Director Director Executive Director (Lat66 since 2018) (Lat66 since 2022) (DCX since 20
Slide 6: Indicative Timetable
Indicative Timetable* Announcement of Transaction 4 April Dispatch of the Notice of Meeting 10 April Bidder’s Statement and Target’s Statement lodged with ASIC 10 April Prospectus lodged with ASIC and Offer Opens 10 April DCX shareholder meeting 10 May Consolidation effective date 10 May Prospectus
Slide 7: Transaction Rationale
Transaction Rationale 1 2 3 4 4 Creates a diversified precious Near term development Highly complementary asset Experienced leadership team and critical minerals company in opportunities base with proven track record Tier 1 jurisdictions • Assets in Australia and Finland, both • High grade gold and
Slide 8: Transaction Summary
Transaction Summary 1 2 3 4 5 Transaction Consideration Board Board & Senior Conditions Structure Recommendations Management & Indicative Timing • Transaction to be • DCX will issue Latitude 66 • The Transaction is subject • Following the Transaction, the • The Transaction is subject undertaken as a
Slide 9: Diversified Growth Strategy
Diversified Growth Strategy Focus on the continued KSB Project Defined Mineral Resource1 & advancement of exploration pathway to development and development activities at the KSB Project in Finland. Greater Free Carried Interest in critical Supported by accretive valuation Duchess minerals Joint Ven
Slide 10: Pro Forma Capital Structure
Pro Forma Capital Structure On Completion of Proposed On Completion of Proposed Transaction (Post Transaction Security Existing Consolidation) (Post Consolidation) (Minimum Raising) (Maximum Raising) Existing Shares 3,302,568,098 33,025,681 33,025,681 Consideration Shares - 125,000,000 125,000,000 C
Slide 11: Key Milestones and Activity
Key Milestones and Activity DCX will have a busy period of activity through 2024 following the transaction 2024 Q1 Q2 Q3 Q4 KSB Project K South Drilling Program Extensional drilling at K North and K South Prefeasibility Study for KSB Project Greater Duchess JV Release of Scoping Study Prefeasibility
Slide 12: Latitude 66
Latitude 66 12
Slide 13: Lat66's Quality Project Portfolio
Lat66’s Quality Project Portfolio Finland focused Au-Co developer, high-grade resources, belt-scale land position, the team to execute • Significant land holding in Finland across 3 greenstone belts providing exposure to gold and battery metal projects Kola Kolari KSB Project PSB Kainuu • Camp scale
Slide 14: Project portfolio
Project portfolio Systematic, first principles approach has laid the foundation for many years of Gold and Cobalt exploration and operations Primary focus (KSB) • Advancement of K camp through feasibility to define near-term production opportunity Feasibility • Improved definition of the connection
Slide 15: Significant proven and potential mineral resource
Significant proven and potential mineral resource Camp-scale, high-grade, multiple targets – poised to grow K North deposits & targets • At K North JORC compliant resources of 650,000oz Au (7.3Mt @ 2.7g/t) and 5,800t Co (@ 0.08%)1 • Multiple ‘near mine’ targets over 3.5km of strike at K North proxim
Slide 16: K South providing fast route to adding resource inventory
K South providing fast route to adding resource inventory Recent successes demonstrating the near-surface gold-cobalt potential of the camp Continued growth opportunities at K South with K9 providing significant mineralisation1 16 (1) Refer to DCX announcement dated 04/04/2024 “Transformational Acqu
Slide 17: Finland
Finland Gold Mining Cobalt Mining Significant European gold Only primary producer of Operations (Kittila) cobalt within the EU New Discoveries Kittila Sakatti Cobalt Refining KSB Project Rupert Resources defines Largest refiner of cobalt Ikkari 4.2 m oz gold resource at Ikkari3 outside of China4 Ope
Slide 18: DCX Australian asset overview
DCX Australian asset overview 18
Slide 19: QLD – Greater Duchess JV
QLD – Greater Duchess JV • 17.5% free-carried interest until a Decision to Mine – No cost to DCX • Huge exploration upside at Lady Fanny North, Lady Vampire, Shamrock • Maiden Indicated and Inferred Mineral Resource equates to a DCX metal inventory of 24,903CuEq tonnes1 • See-through value of Minera
Slide 20: WA – Sylvania
WA – Sylvania • Multi-commodity potential • Gold, base metals, iron ore • Historical exploration focused on base metals potential along Prairie Downs Fault • Option with Rio Tinto over Iron Ore prospects • Existing mineral resource defined • Prairie Downs: 2.98Mt @ 4.9% Zn and 1.6% Pb4 • Multiple ba
Slide 21: WA - Edjudina
WA - Edjudina • Tier one location surrounded by multiple historical, existing and future mining operations. • Dominant regional land position with over 50km strike of under-explored and prospective greenstone geology • Along strike from Matsa’s Lake Carey Project (ASX:MAT) • Multiple large-scale sur
Slide 22: Use of Funds
Use of Funds* Minimum Subscription Maximum Subscription (A$2m) (A$4m) FINLAND • Diamond and base of till drilling, surface 1,900,000 2,860,000 geochemistry and detailed geophysics. Studies and approvals. SYLVANIA • Soil sampling and AC Drilling 400,000 500,000 EDJUDINA • Soil sampling and AC Drillin
Slide 23: Investment Highlights
Investment Highlights Diversified precious and Tier 1 Mining Jurisdictions Development Ready critical minerals company • Project portfolio includes six development • Assets in Australia and Finland, both Tier 1 • Metallurgical results using conventional and exploration projects providing exposure mi
Slide 24: Appendix
Appendix
Slide 25: Positioned to benefit from EU Critical Raw Material Act
Positioned to benefit from EU Critical Raw Material Act Cobalt has been identified as a Strategic Mineral under the EU’s Critical Raw Material Act In March 2024, the European Union Council gave its final approval for the Critical Raw Material Act1 European Critical Raw Materials Act 10% of EU’s mate
Slide 26: Record European Gold price
Record European Gold price EUROPEAN GOLD PRICE (EUR/Oz) 26 1. BullionByPost
Slide 27: Current Mineral Resources
Current Mineral Resources Table 1: K-camp gold mineral resource estimate (gold domain 0.5 g/t Au cut-off) K Camp Indicated Inferred Total Mineral Resource Au Co Au Co Au Co Cut-off Tonnes Gold Cobalt Tonnes Gold Cobalt Tonnes Gold Cobalt Deposit Domain grade grade grade grade grade grade (g/t Au) (M
Slide 28: Thank you
Thank you Toby Wellman DiscovEx Resources Limited P: +61 (0) 412 610 326 E: toby@discovexresources.com.au Grant Coyle Latitude 66 Cobalt Limited P: +61 (0) 421 777 059 E: grant@lat66.com
DiscovEx Resources — Merger or Acquisition (April 2024) on 6ix