Vault Minerals Limited · ASX:VAU

Vault Minerals — Red 5 — Investor Presentation (March 2020)

38 slides from Vault Minerals's investor presentation, Mar 30, 2020

  1. Slide 1: Investor Presentation March 2020

    For personal use only Investor Presentation March 2020 ASX Code: RED Mark Williams, Managing Director

  2. Slide 2: Important information and Disclaimer

    Important information and Disclaimer This presentation (Investor Presentation) has been prepared by Red 5 Limited ACN 068 647 610 (RED). By accepting, accessing or reviewing this document you acknowledge and agree to the terms set out in this Important Information and Disclaimer. For personal use on

  3. Slide 3: Competent Person's Statement

    Competent Person’s Statement For personal use only Competent Person Statement for Exploration Results The information in this presentation which relates to Exploration Results is extracted from ASX announcements (available on the ASX web-site at www.asx.com.au); “Red 5 commences significant drilling

  4. Slide 4: Red 5 Limited – corporate profile

    Red 5 Limited – corporate profile For personal use only Our Company Vision “To be a successful multi-operational exploration and mining company, providing benefits to all stakeholders, through the consistent application of technical excellence, and responsible and sustainable industry practices.” Sh

  5. Slide 5: Strong leadership team with operating expertise

    Strong leadership team with operating expertise For personal use only Red 5 has a strong and capable team, with many years of mining and development experience at both Red 5 and in prior multi-billion international development projects – the Company is well placed to deliver the future KOTH developm

  6. Slide 6: Australian gold's standout growth opportunity

    Australian gold’s standout growth opportunity For personal use only  King of the Hills (KOTH) - 4.1Moz1 Resource and growing  KOTH – PFS 140kozpa (open pit only) with 10-year LOM2, with mine plan upside potential identified following Mar 2020 31% resource upgrade1  $125 million capital raising to

  7. Slide 7: King of the Hills Project opportunity

    King of the Hills Project opportunity  One of Australia’s premier emerging gold projects Mar-20 Mineral Resource1 For personal use only 4.1Moz  Resource increase by 31% to 4.1Moz (Mar 2020)  83% of 4.1Moz resource within large open pit Aug-19 Pre-Feasibility Study2 • Ore Reserve (Moz) 1.5  Depos

  8. Slide 8: KOTH Final Feasibility Study indicative schedule

    KOTH Final Feasibility Study indicative schedule* For personal use only * Subject to satisfactory completion of each milestone and all Board and Regulatory Mar-20 SepQ-20 approvals Mineral FFS & Reserve Resource Release Feb-20 Drilling cut- Jun-20 Dec-20 off for FFS Mine plan Mar-20 May-20 Met Proce

  9. Slide 9: KOTH - potential to be Australia's next premier gold mine

    KOTH - potential to be Australia’s next premier gold mine For personal use only 9

  10. Slide 10: KOTH 4.1Moz Mineral Resource - increase of 31%

    KOTH 4.1Moz Mineral Resource1 - increase of 31% For personal use only Total Open Pit & Underground KOTH Resource as at March 2020 Cut-off Mining Tonnes Gold Contained Gold  Cut-off date for inclusion of Classification drilling data and mining (g/t) Method (000t) (g/t) (000oz) depletion as at 19 Feb

  11. Slide 11: KOTH - mineralisation open in all directions

    KOTH - mineralisation open in all directions For personal use only Headline assays from 19 March 2020 ASX release included: White Walker  5.2m @ 23.7g/t Au  17.1m @ 5.4g/t Au  16.4m @ 4.0g/t Au  7.5m @ 28.36g/t Au  18.4m @ 10.81g/t Au South Pit Drilling  16.0m @ 9.8g/t Au New  3.65m @ 40.0g/t

  12. Slide 12: KOTH Final Feasibility Study on track

    KOTH Final Feasibility Study on track For personal use only 1. Resource, geotechnical and metallurgical drilling completed in February 2. Infrastructure designs are being finalised 3. Power supply expression of interest has been released to market 4. Mine planning studies are well advanced 5. Approv

  13. Slide 13: 2020: two producing mines, one plant

    Darlot Plant Darlot UG Mine KOTH UG Mine For personal use only 2020: two producing mines, one plant 13 13

  14. Slide 14: A company built on a strong safety culture

    A company built on a strong safety culture For personal use only Total Recordable Injury Frequency Rate1 10.0 8.0 8.0 8.0 Update 6.5 1H 2018 2H 2018 1H 2019 2H 2019 1H 2020  Safety focused on bottom up approach supporting organisational values  The Total Recordable Injury Frequency Rate (TRIFR, 12

  15. Slide 15: Darlot operations have funded Australian growth

    Darlot operations have funded Australian growth For personal use only 15

  16. Slide 16: Darlot opportunity to extend LOM

    Darlot opportunity to extend LOM Significant endowment1 For personal use only  Resource 10.8Mt @ 3.5g/t Au for 1.2Moz  Reserve 2.6Mt @ 3.3g/t Au for 275koz (complemented by KOTH trucked ore) Optimising what we have  Extension of existing resources, including identification of mineable remnants an

  17. Slide 17: KOTH - future development to explore along contact

    KOTH - future development to explore along contact For personal use only  Exploration aimed at increasing the Resource in total tonnage and potentially grade  Granodiorite/ultramafic contact zone extends almost 12km around the granodiorite, with the potential to host gold mineralisation outside of

  18. Slide 18: Capital raising summary

    Capital raising summary For personal use only  A$125 million two tranche placement of approximately 694 million shares to sophisticated or Capital raising professional investors structure  A$30.9 million in tranche one and A$94.1 million in tranche two1  Placement price of A$0.18 per share  23.4

  19. Slide 19: Use of funds

    Use of funds For personal use only  Development of the KOTH Gold Project, KOTH and Darlot exploration and working capital  Capital raising forms partial funding of the estimated $218 million2 KOTH total capex  KOTH debt funding planned for 2H 2020 A$ million1 KOTH Project Capital - equity compone

  20. Slide 20: Red 5 – appendix

    For personal use only 20 Red 5 – appendix

  21. Slide 21: 2019 PFS-level KOTH capital cost

    2019 PFS-level KOTH capital cost1 For personal use only A$M 4Mtpa Process plant 92 Infrastructure and tailings storage facilities 34 Construction EPCM and direct and indirect costs 41 Sub-total 166 Owners Costs (project management, operations readiness) 5 Sub-total 171 Contingency 23 Sub-total 194 P

  22. Slide 22: Key risks

    Key risks Set out in this section are some of the potential risks associated with RED, its business, the industry in which it operates and an investment in RED shares. It is not an For personal use only exhaustive list of every risk faced by RED now or in the future Risk Global economic Changes in g

  23. Slide 23: Key risks continued

    Key risks continued For personal use only Risk Gold price The success of RED's operations is primarily dependent on the price of gold bullion as substantially all of RED's current revenue and potential revenues are derived from the sale of gold. Gold prices are volatile and may fluctuate as a result

  24. Slide 24: Key risks continued

    Key risks continued For personal use only Risk Conditions and renewal The permits and agreements on the Darlot and KotH projects are governed by Australian legislation and are evidenced by the granting of permits and agreements and the extension of such of licences permits and agreements. Each permi

  25. Slide 25: Key risks continued

    Key risks continued For personal use only Risk Operational risk Gold mining and processing ore into gold are susceptible to numerous events that may have an act on RED's ability to extract ore and produce gold. The Company's ability to generate sufficient annual production of gold in the medium to l

  26. Slide 26: Red 5 growth pathway and optionality

    Red 5 growth pathway and optionality For personal use only Acquired Darlot & King of the Hills Ongoing mining and processing operations at Darlot Darlot Reserve Darlot Reserve1 Darlot Reserve1 (131koz) (307koz) (337koz) 2017 2018 2019 2020 Siana operations KOTH KOTH Resource KOTH Resource suspended

  27. Slide 27: Darlot Gold Mine and processing centre

    Darlot Gold Mine and processing centre For personal use only  FY2020 revised guidance of 100‐105koz at an AISC of A$1,550 – A$1,600/oz  Sept 2019 Quarter production 28,649oz at AISC of A$1,476/oz  Dec 2019 Quarter production 23,346oz at AISC of A$1,628/oz  Mar 2020 Quarter guidance 20,000-22,000

  28. Slide 28: Darlot regional exploration opportunities

    Darlot regional exploration opportunities For personal use only Ockerburry Hill (Dingo Ridge)1 Gipps Hill3  4km-long mineralised zone proximal to the  Mineralised shear-hosted quartz lode (up to Ockerburry fault corridor 5m wide) intercepted in historical RC drilling with grades up to 12.1g/t Au3

  29. Slide 29: KOTH 4.1Moz Mineral Resource - increase of 31%

    KOTH 4.1Moz Mineral Resource1 - increase of 31% For personal use only  88% of the total Resource Kt Grade g/t Koz increase from geology (not Total gold price) New @ A$2,100/oz 90,700 1.4 4,070  Of the 1.37Moz increase in New @ A$1,800/oz 84,500 1.5 3,950 Resource inside the pit shell:  960Koz or

  30. Slide 30: KOTH – 1.45Moz PFS Reserve from open pit mining

    KOTH – 1.45Moz PFS Reserve from open pit mining For personal use only Cut- Gold Contained JORC 2012 Mining Tonnes Deposit off Grade Gold Classification Method (Mt) (g/t) (g/t) (koz) King of the Hills Probable 0.43 Open pit 36.0 1.25 1,448.0 Rainbow Probable 0.37 Open pit 1.4 1.00 44.2 TOTAL 37.4 1.2

  31. Slide 31: 2019 PFS - 4Mtpa plant and bulk open pit mine

    2019 PFS - 4Mtpa plant and bulk open pit mine For personal use only Pre-feasibility study1 KOTH OP Rainbow OP TotalPhoto LOM Waste movement (Mt) 222.4 6.1 228.4 LOM Ore Mined (Mt) 36 1.4 37.4 Contained Gold (Moz) 1.45 0.04 1.49 Recovery (%) 92.8 92.0 92.8 Recovered Gold (Moz) 1.34 0.04 1.38 Strip ra

  32. Slide 32: KOTH is in the Top gold deposits in Australia

    KOTH is in the Top 20 gold deposits in Australia For personal use only Resources Reserves Mt g/t Moz Mt g/t Moz Cadia 3174.0 0.4 37.5 Cadia 1480.0 0.5 22.5 Boddington 931.1 0.6 18.3 Boddington 566.3 0.7 11.9 Golden Mile (100%) 272.6 1.4 12.0 Golden Mile (100%) 178.2 1.1 6.3 Tanami 65.5 4.3 9.1 Tanam

  33. Slide 33: Appendix – Australian top gold deposits

    Appendix – Australian top 20 gold deposits1 Resources Reserves Resources Reserves Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz For personal use only Cadia Newcrest Sunrise Dam AngloGold Measured 32.0 0.30 0.3 Proven Measured 35.1 1.88 2.1 Proven 12.6 1.38 0.6 Indicated 3090.0 0.37 36.5 Probable 1480.

  34. Slide 34: Siana Gold Project, Philippines

    Siana Gold Project, Philippines For personal use only  The Siana Gold Mine, owned by Philippine affiliated company Greenstone Resources, suspended mine operations in April 2017  Maintaining mill and pit dewatering to preserve value  Greenstone Resources is now evaluating its preferred plan and op

  35. Slide 35: International Offer Restrictions

    International Offer Restrictions This Investor Presentation does not constitute an offer of New Shares of the Company in any jurisdiction in which it would be unlawful. In particular, this document For personal use only may not be distributed to any person, and the New Shares may not be offered or s

  36. Slide 36: International Offer Restrictions continued

    International Offer Restrictions continued For personal use only European Union This document has not been, and will not be, registered with or approved by any securities regulator in the European Union. Accordingly, this document may not be made available, nor may the New Shares be offered for sale

  37. Slide 37: International Offer Restrictions continued

    International Offer Restrictions continued For personal use only Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any o

  38. Slide 38: Thank-you

    For personal use only Thank-you 38 ASX Code: RED

Red 5 — Investor Presentation (March 2020) on 6ix