Eastern Platinum Limited · TSX:ELR
Eastern Platinum — Investor Presentation (September 2022)
33 slides from Eastern Platinum's investor presentation, September 2022
Slide 1: Developing the Flagship Crocodile River Mine
DEVELOPING THE FLAGSHIP CROCODILE RIVER MINE September 2022
Slide 2: Corporate background
Corporate background Eastern Platinum Limited (Eastplats) owns, directly and indirectly, a number of platinum group metals (PGM) and chrome assets in South Africa. All of Eastplats’ properties are situated on the western and eastern limbs of the Bushveld Complex (BCX), the geological environment tha
Slide 3: Bushveld Complex properties
Bushveld Complex properties Limpopo Legend N Bushveld Compl ex Opera tions 0 25 50 Proje cts Kilometres Gauteng North West Mpumalanga Free State BUSHVELD COMPLEX SOUTH AFRICA KwaZulu-Natal Spitzkop Northern Cape Kennedy’s Vale Mareesburg Eastern Cape The Crocodile River Mine Western Cape 3
Slide 4: Company history
Company history CRM (then Lefkochrysos) was listed on the Johannesburg Impala Platinum Holdings Limited Mareesburg and Kennedy’s Securities Exchange (JSE) and (Implats) acquired a 38% interest in Vale/Spitzkop, were placed on care Barplats and the contract to Eastplats acquired a 69% and maintenance
Slide 5: Company history
Company history Desktop studies and technical evaluations on the potential life of mine and the underlying value of Eastplats Projects: Tailings storage facility (“TSF”) - immediately financially viable. • Retreatment design continued. Zandfontein mine - economic viability dependent on an improvemen
Slide 6: Company history
Company history • Corporate matters - Rights offering closed in Jan 2021, which raised C$11.8M for capital projects and working capital. • PGM operations - PGM Circuit D recommissioned after re-configuration and optimization in Apr 2021. PGM Circuit B – work commenced in May 2021 and the circuit was
Slide 7: Experienced and strong team
Experienced and strong team Directors Management George G. Dorin Wanjin Yang Director, Board Chair, Corporate Governance and Chief Executive Officer Compensation Committee Chair Changyu (Charlie) Liu Wylie Hui Director Chief Financial Officer & Corporate Secretary Lisa Ng Hannelie Hanson Director, A
Slide 8: Share structure
Share structure TSX:ELR Stock symbol JSE:EPS Share price at 31 August 2022 C$0.205 52 week high/low C$0.37/C$0.17 Issued and outstanding 137,820,773 Stock options outstanding 5,240,000 Warrants outstanding 5,960,000 Fully diluted 149,020,773 Market capitalization C$28.3m 8
Slide 9: Revenue and EBITDA since 2018
Revenue and EBITDA since 2018 9
Slide 10: High-quality Chrome and PGM current revenue pipeline
High-quality Chrome and PGM current revenue pipeline Crocodile River Mine (Tailings retreatment) Retreatment Project PGM Mareesburg Scavenger Plant PGM Main Plant • Remining Zandfontein tailings area to • Circuit D • Circuit B recover chrome • Operations began Q4 2020 by processing • Commissioned du
Slide 11: Chrome production
Chrome production Total project to 2019 2020 2021 2022 to Q2 YTD Q2 2022 Total tailing re-mined Tonnes 1,778,525 2,328,732 2,504,777 1,238,973 7,859,270 Total chrome concentrate Tonnes 588,006 987,003 773,274 290,961 2,641,287 Recoveries of chrome % 65.4 65.0 49.8 40.9 53.8 Wet yields of chrome % 32
Slide 12: PGM production
PGM production Dispatched to Impala (Project to July 2022) PGM ounces Month 1 Wet tons Dry tons contained Dec-20 32.06 23 51.19 Jan-21 61.50 44 105.34 Apr-21 371.74 200 523.59 May-21 302.08 163 278.03 Jun-21 386.58 176 310.74 Jul-21 500.92 218 439.89 Aug-21 273.58 148 214.80 Oct-21 345.24 188 256.76
Slide 13: Zandfontein Mine site facility overview map
Zandfontein Mine site facility overview map 13
Slide 14: Zandfontein plant and equipment
Zandfontein plant and equipment 14
Slide 15: CRM Zandfontein underground re-start plan
CRM Zandfontein underground re-start plan Technical and Resource estimate report – NI 43-101 compliant (Jan 2022) 15
Slide 16: CRM Resources – Re-Classification
CRM Resources – Re-Classification 16
Slide 17: CRM – Mineral Resource
CRM – Mineral Resource (Jan 2022) Mineral Resource Cut-off of 1.7 g/t 4E applied Mineral Geo Loss Mine Cut 4E Pt Pd Rh Au 4E Mine Area Resource Tonnes Class kt m g/t g/t g/t g/t g/t Kg Moz Crocette 3,646 1.86 3.71 2.41 1.09 0.36 0.03 13,516 0.43 Measured Zandfontein 6,688 1.66 4.85 2.50 1.11 0.40 0.
Slide 18: Mineral Reserve estimation
Mineral Reserve estimation Underground Operations Mineral Reserve - 1 January 2022 Delivered Mineral Reserve 4E grade 4E content tonnes category kt g/t kg koz Proved 2,282 4.75 10,829 348 Probable 12,298 3.48 42,777 1,375 Total 14,580 3.68 53,605 1,723 Notes: 1. The Mineral Reserve estimation includ
Slide 19: Developing the flagship Crocodile River Mine
DEVELOPING THE FLAGSHIP CROCODILE RIVER MINE Zandfontein section underground mine design and scheduling 22-year Life of Mine 14.5m ton ore @ 3.68 g/t 4E Produce 1.7m oz PGM (4E) 19
Slide 20: Zandfontein Underground mine design and scheduling
Zandfontein Underground mine design and scheduling 22-year Life of Mine Proven Reserves Depth ~473 Probable Reserves Depth ~833 20
Slide 21: Upfront capital costs
Upfront capital costs Total Total Item ZAR USD Mining Capital Total initial mining capital 181,000,000 11,700,000 Total initial plant capital 85,000,000 5,500,000 Total initial other capital 21,000,000 1,400,000 Contingency and other capital 93,000,000 6,000,000 Total (Payback including TSF – 2.0 ye
Slide 22: Zandfontein underground re-start - Project highlights
Zandfontein underground re-start - Project highlights Reserves 1.7Moz 4E (Zandfontein) 14,580kt @ 3.68 g/t Cost USD1,502/oz (AISC) IRR 118% Mine life 22+ years NPV USD202 million (including TSF) 22
Slide 23: Cost curve – Milled tonnes
Cost curve – Milled tonnes Source: Minxcon 23
Slide 24: Zandfontein – LoM plan
Zandfontein – LoM plan (22 years) Delivered Mineral 4E Grade 4E Content Tonnes Reserve Category kt g/t kg koz Proved 2,282 4.75 10,829 348 Probable 12,298 3.48 42,777 1,375 Total 14,580 3.68 53,605 1,723 24
Slide 25: Zandfontein – Ounces profile
Zandfontein – Ounces profile 25
Slide 26: Processing – Plant flow diagram
Processing – Plant flow diagram 26
Slide 27: What are we doing differently?
What are we doing differently? Aspect Previous operations New design Advantage • More effective power • Higher penetration In-stope Drilling Handheld with compressed air Handheld with hydro power • Reduced noise • Reduced heat generation • Sticks • Timberless • Reduced logistics • 1.8m roofbolts • 2
Slide 28: Engineering – Surface infrastructure
Engineering – Surface infrastructure Existing surface infrastructure: Significant prior investment of over USD $526m and over USD $106m since new leadership appointed in 2016. • Water and power supply to the operation Total investment to date over USD $632m. is existing and has sufficient capacity •
Slide 29: Engineering – Underground infrastructure
Engineering – Underground infrastructure Existing underground infrastructure Significant prior investment of over USD $526m and over USD $106m since new leadership appointed in 2016. • 4 level station Total investment to date over USD $632m. • 3 level pump station • 3 level dam • 4 & 5 level tips •
Slide 30: High safety standards
High safety standards • Zero Harm Safety Culture • Hydropower and Nets for support • State of the art support design to improve efficiencies and ergonomics • Modernised scraping systems for cleaning • Dedicated raise lines for men, material and ore handling • Twin declines and strike drives to separ
Slide 31: SLP - Going beyond mining
SLP - Going beyond mining Local employment Stakeholder forums SMME business development This project creates In place and operating well Currently in place. Have trained 56 local through the assistance of businesses in tendering, financial at least 1,400 jobs local government management, marketing e
Slide 32: Notice
Notice The information contained in this Presentation is provided for informational purposes only and does not constitute an offer to sell, or This Presentation contains certain statements that may be “forward-looking statements” or “forward-looking information” within the the solicitation of an off
Slide 33: Thank you
THANK YOU 33
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