Saturn Metals Ltd. · ASX:STN
Saturn Metals — Investor Presentation (May 2024)
22 slides from Saturn Metals's investor presentation, May 7, 2024
Slide 1: Apollo Hill: Heap Leach Gold
Apollo Hill: Heap Leach Gold For personal use only Presentation: 11am, Tuesday 7 May 2024 ASX:STN Ian Bamborough www.saturnmetals.com.au Managing Director
Slide 2: Apollo Hill 'Greater' Gold Project Overview, Location and Tenure
Apollo Hill ‘Greater’ Gold Project Overview, Location and Tenure • Central strategic position in the Belt • 60km south-east of Leonora in Western Australia in world class multi-million ounce gold province close to existing For personal use only gold infrastructure • Centred around the current 1.84Mo
Slide 3: Corporate Snapshot
Corporate Snapshot Strong Register – Compelling Value Corporate Metrics & Share Structure Assets Cash as at 31 March 2024 $6M EV/Resource oz $26 For personal use only Ordinary Shares on Issue 224M Mineral Resources – Apollo Hill Gold Deposit 1.84Moz 2 Unquoted Options & Performance Rights 13.34M Apo
Slide 4: Apollo Hill – Resource (1.84Moz Au) June 2023
Apollo Hill – Resource (1.84Moz Au1) June 2023 Simple, Single, Big, Low Strip, Large Selective Mining Unit, Low Unit Cost, Open Pit Shell 6772000N 372000E Apollo Hill May 2022 6774000N Mineral Resource 1,469,000oz (76Mt @ 0.60g/t Au at 0.23g/t Au cut-off) For personal use only 3D Oblique view Lookin
Slide 5: Apollo Hill 2023 Mineral Resource & PEA Whittle Shell
Apollo Hill 2023 Mineral Resource & PEA Whittle Shell Scalability SW NE Only 1.5:1 strip ratio LOM, more 0.35km ounces in shell TOPO BOCO For personal use only Initial strip ratio over the first two TOFR years is 1.2:1 Thick ore zones +100m Bulk tonnage Bigger selective mining units, Drill
Slide 6: Simple Metallurgy – Apollo's Biggest Cost Differentiator
Simple Metallurgy – Apollo’s Biggest Cost Differentiator Excellent Gold Extraction Characteristics for Easily Recoverable Gold HEAP LEACHINGA Gold Grains For personal use only Efficient and Excellent Low-Cost Recovery Route +78% gold recovery in columns at completion at 8mm Crush (PEA Plant Design
Slide 7: Leach Kinetics and Recovery Performance
Leach Kinetics and Recovery Performance Strong and Timely Curves with a Predictable Finish for Efficient Management of Heap LeachingA For personal use only A Refer Slide 20 ASX:STN | www.saturnmetals.com.au 7
Slide 8: Preliminary Economic Assessment Production Target – 1.63Moz
Preliminary Economic Assessment Production Target – 1.63Moz Initially targeting 10Mtpa for 10 years from current Resource2 • Life of mine production totals 93.9 Mt at For personal use only 0.54 g/t Au for 1,636,000 oz of contained gold. Life of mine waste movement totals 140.7 Mt, equating to an ave
Slide 9: Preliminary Economic Assessment Heap Leach Circuit
Preliminary Economic Assessment Heap Leach Circuit Initially targeting processing rate of 10Mtpa for 10 years For personal use only • Simple scheduling • Conventional process • HPGR crushing technology • Strong recovery – conservative 75% adopted in PEA with conservative 180 Day stacking schedule al
Slide 10: Capital Efficiency
Capital Efficiency 2.8 Year Payback Period in PEA @ A$2,665 Gold Total Pre-Production Capital Mining Offices (A$M) Solution and and Workshops Storm Water Site Infrastructure $ 42.1 Ponds Waste Dump For personal use only Owner Costs $ 7.1 Processing Facilities $ 230.1 Columns and Heap Leach Pad $ 6.5
Slide 11: Preliminary Economic Assessment C1 Cost and AISC
Preliminary Economic Assessment C1 Cost A$1,730/oz & AISC A$1,857/oz Low Cost per tonne and Efficient Cost per ounce – Bulk Mining and Economies of Scale • Mining A$4.50/t For personal use only (10m bench – large efficient SMU’s) All Chart Costs in A$ • Processing A$9.42/t Note: All values published
Slide 12: Preliminary Economic Assessment $694M Free Cash Flow and 30% IRR
Preliminary Economic Assessment $694M Free Cash Flow and 30% IRR Photo of Norton Goldfields West Australian Binduli North 5Mtpa Heap Leach Pad – taken from a light aeroplane – Thursday 18 April 2024. Financial Highlights: • Robust financials at A$2,665/oz base case For personal use only • At the rec
Slide 13: Preliminary Economic Assessment Sensitivity Analysis
Preliminary Economic Assessment Sensitivity Analysis Gold Price Gold Price 19/03/2024 (A$ 19/03/2024 (A$ 3,306/oz) 3,306/oz) Cashflow IRR % (7%) For personal use only A$ 2,665/oz A$ 2,665/oz Gold Price (+/-10%) $375.4M $1,013.0M Gold Price (+/-10%) 18% 41% $1,461.0M 55% OP Costs (+/-15%) $403.2M OP
Slide 14: Phase Bulk Sample Pits and Pilot Plant
Phase 1 Bulk Sample Pits and Pilot Plant Design Concept 1.2Mt Mined for 24koz Recovered Permit Submittal Mid 2024 For personal use only ASX:STN | www.saturnmetals.com.au 14
Slide 15: Apollo Hill Staged Development Concept
Apollo Hill Staged Development Concept - Deferred Capital/Funding Early Production 1 Pilot Phase – 1-2 Mtpa Contract Crush – targeting 24koz recovered 2 ‘Roll On’ Phase – 3-5 Mtpa – Interim Capital Concept for Crushing – Pit Shell Scheduled to Step to Full Scale 3 Full Project PEA Pit – 10Mtpa – Cru
Slide 16: Resource Extension – Apollo Hill Corridor
Resource Extension – Apollo Hill Corridor Strong Intersections Provide Expansion Opportunities on Multiple Shallow Fronts Thick, shallow, and high- grade intersections from For personal use only reverse circulation drilling includeA: • 7m @ 11.18g/t Au from 172m – AHRC0813 • 12m @ 10.98g/t Au from 4
Slide 17: Resource Comparison Peer Group
Resource Comparison Round Mountain, USA Peer Group Kinross Gold Corporation Apollo Hill – firmly in bulk Tujuh Bukit, IDN Merdeka Copper Gold tonnage economic space: Reserves* Apollo Hill, AUS For personal use only Saturn Metals Grade Scale Marrigold, USA SSR Mining Moss, USA Bald Mountain, USA
Slide 18: Regional Potential – Important Corridor Yields Results
Regional Potential – Important Corridor Yields Results Main Gold Structure – Access Granted • ~1,000km2 of greenfields land package yields results For personal use only • 16 prospects to date • Evidence of a continuous gold system outlined in drill intersections over 60km of strike length and a 20km
Slide 19: Development Plan
Development Plan Timeline To Pilot Plant – Roll on Concept, and Full-Scale Production 2023 2024 2025 2026 2027 PEA Study For personal use only Pilot Plant Studies Engineering & Procurement Scaled-up Pilot Testing *subject to permitting and approvals – Regulatory funding and investment decision Appro
Slide 20: Disclaimer & Competent Person Statements
Disclaimer & Competent Person Statements GENERAL The Company has prepared this presentation. Whilst the information contained in this presentation has been prepared with all reasonable care from information provided by the Company and from sources, which the Company believes are reliable, no respons
Slide 21: Appendix A: Mineral Resource – Apollo Hill Gold Deposit
Appendix A Mineral Resource – Apollo Hill Gold Deposit Measured Indicated Inferred Mineral Resource Total Lower Cut-off Oxidation state For personal use only Grade Au g/t Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) (M
Slide 22: Appendix B: Resource Comparison – Peer Group Data
Appendix B Resource Comparison – Peer Group Data Mineral Resource Measured Indicated Inferred Total Source Company Desposit Stage For personal use only Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces 1 Kinross Gold Corporation Bald Mountain Production 8,381,000 0.7 19