Caledonia Mining Corporation Plc · AMEX:CMCL
Caledonia Mining — Technical Presentation (June 2024)
24 slides from Caledonia Mining's technical presentation, June 2024
Slide 1: Bilboes Gold Project Preliminary Economic Assessment
Bilboes Gold Project Established Gold Producer with Pathway to Multi-Asset Preliminary ProductionEconomic Assessment The next phase : Bilboes Gold Project June 2024
Slide 2: Disclaimer
Disclaimer This presentation does not constitute, or form part of, any offer to sell or issue or any solicitation of any offer to purchase or subscribe for, any shares in Caledonia Mining Corporation Plc (“Caledonia”), nor shall it (or any part of it) or the fact of its distribution, form the basis
Slide 3: Presenting team
Presenting team Mark Victor Gapare, James Mufara, Simba Chimedza, Craig Harvey, Adam Chester, Learmonth, Executive Chief Operating Group Technical Vice President General Counsel, Chief Executive Director Officer Manager Technical Services Company Secretary Officer and and Head of Risk Director and C
Slide 4: Table of Contents
Table of Contents Introduction & Highlights 4-6 Bilboes Gold Project 7–8 Development approach 9 – 10 Geology 11 - 13 Technical overview 14 – 18 Sensitivity analysis 19 Comparisons 20 - 21 Environmental and Social 22 Summary 23 Q&A 24 NYSE/AIM/ VFEX: CMCL 3
Slide 5: Bilboes Video
Bilboes Video NYSE/AIM/ VFEX: CMCL 5
Slide 6: Publication of PEA for the single-phase development
Publication of PEA for the single-phase development 100% owned Robust PEA: Strong management fully permitted large scale, high team with proven track gold project grade, open pit record of operating in Zimbabwe NYSE/AIM/ VFEX: CMCL 6
Slide 7: PEA Highlights: 1.5 million ounces of gold over 10 years
PEA Highlights 1.5 million ounces of gold over 10 years PEA Total production (m.oz) 1.518 Life of Mine (years) 10 Total capital cost ($’m) 403 Peak Funding ($’m) 309 Net Present Value (10%) ($’m) 309 ZIMBABWE IRR (%) 34 AISC ($/oz) 968 Maligreen Payback period 1.9 years Harare Victoria Falls • PEA H
Slide 8: Introduction
Introduction • Located in the Matabeleland, in an underexplored greenstone belt • Acquired in January 2023 for U$65.7m in shares plus a 1% net smelter royalty • Bilboes claims cover 10.5 sq mi that consist of four open-pit properties: Isabela North; Isabela South; McCays and Bubi • Historical produc
Slide 9: Bilboes - strong economics, a short payback period and leverage to the gold price
Bilboes - strong economics, a short payback period and leverage to the gold price • Publication of PEA for the single-phase development of the Bilboes sulphide gold project • Single-phase development provides optimal returns and a more attractive financing structure than phased development alternati
Slide 10: Summary of the changes made to the single-phase development approach
Summary of the changes made to the single-phase development approach The Company has made several changes to the pre-existing single-phase development approach: • Revised designs for the TSF to incorporate a modular construction to reduce upfront capital • Revised pit designs to reduce upfront capit
Slide 11: Regional Geological Setting
Regional Geological Setting • Geology in Zimbabwe comprises three main areas: Archean, Proterozoic, and Phanerozoic. • Rocks from the Archean era occupy most of the Zimbabwe Craton, an ancient stable continental block. This is the basement and primarily comprises granites and gneisses with remnants
Slide 12: Local Geology: Isabella – McCays (IM)
Local Geology : Isabella – McCays (IM) • Mineralisation is hydrothermal in origin consisting of silicified stockworks and veins. • The mineralisation is structurally controlled with individual zones of veining and shearing typically sub- parallel to each other. • Mineralisation within the veins comp
Slide 13: Local Geology: Bubi
Local Geology : Bubi • Mineralisation within the veins comprises pyrite and arsenopyrite, with pyrite the more dominant sulphide. • Mineralisation widths at Bubi range from 10m in the southwestern portion up to as wide as 100m in the central portion of the project area. • The overall mineralised str
Slide 14: Processing – Metallurgical Testwork
Processing – Metallurgical Testwork • Multiple metallurgical test work phases from 2013 – 2019, including a pilot plant • Conducted grinding and conventional milling tests to generate sulphide flotation concentrates • Tested Ultra fine grinding, Pressure oxidation, Biological oxidation ("BIOX") of f
Slide 15: Processing – Design
Processing – Design • The processing plant is designed to process 2.88Mtpa from years 1 – 6. Thereafter the plant is capable of processing 2.16Mtpa from years 6 – 10. o Bubi ore is harder resulting in a drop in throughput in the crushing section. • IM material has a mass pull of 5% and Bubi has a ma
Slide 16: Processing – Design
Processing – Design NYSE/AIM/VFEX: CMCL 16
Slide 17: Tailings
Tailings • Tailings Storage Facility ("TSF") design and costing assigned to SLR Consulting (South Africa) (Pty) Ltd ("SLR") • The TSF is sized as follows o 22.9Mt for the flotation tailings (240Ktpm deposition rate) o 1.7Mt for the BIOX tailings (12Ktpm deposition rate) o Maximum Rate of Rise of 2.5
Slide 18: Mine Layout
Mine Layout Image includes major facilities of the Project including the Isabella North and South, McCays and Bubi open pit mines NYSE/AIM/VFEX: CMCL 18
Slide 19: Sensitivity analysis in the PEA - NPV
Sensitivity analysis in the PEA - NPV PEA calculated at a gold price of $1,884 and 10% discount rate Project NPV 19 NYSE/AIM: CMCL
Slide 20: A Grade Leader
A Grade Leader . NYSE/AIM/VFEX: CMCL 20
Slide 21: Recent Deals
Recent Deals . *price does not include 1% NSR NYSE/AIM/VFEX: CMCL 21
Slide 22: Environmental and Social
Environmental and Social . The Environmental and Social Impact Assessment (ESIA) Study was completed in 2020 by SLR and GriynOva Environmental Consultancy (in-country partner) for submission to EMA. An Environmental Impact Assessment (EIA) Certificate was granted by Environmental Management Agen
Slide 23: Summary
Summary • .Publication of PEA for the single-phase development • NPV = $309m (10% discount rate and gold price of $1,884) • New feasibility study reflecting the PEA expected to be delivered H1 2025 • Payback period of 1.9 years (based on a gold price of $1,884) • Funding solutions being progressed i
Slide 24: Q&A
Q&A NYSE/AIM/ VFEX: CMCL 4
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