Slide 1: Mawson – A New Dawn in the Fraser Range
ASX:LEG For personal use only “ M aw s o n – A N e w D aw n i n t h e F r a s e r R a n g e ” RIU Conference 18-20 Februar y 2020
Slide 2: Disclosure
DISCLOSURE For personal use only This is not a disclosure document. Any material used in this presentation is a summary of selected data, and any investor in Legend Mining Limited should refer to all Legend Mining Limited ASX releases and statutory reports before considering to invest in the company
Slide 3: Contents
CONTENTS For personal use only 1. Nickel Market Commentary 2. About Legend Investment Case Rockford Project Location Mawson – A New Dawn Rockford Project Activities 2020 3. Summary Legend MD Mark Wilson with discovery core from Mawson “The Fer tile Fraser Range” 3
Slide 4: Nickel Market Commentary – About Nickel
NICKEL MARKET COMMENTARY – ABOUT NICKEL Nickel Prices and Inventory For personal use only • Balance in deficit since 2016, predicted to equalise • Stockpiles diminishing from peak 900Kt (2015)* – dramatic recent behaviour • Price increase from US$3.80/lb (2016) to US$8.00/lb (2019) • Brexit – recent
Slide 5: About Legend
ABOUT LEGEND – ASX:LEG For personal use only Market capitalisation ~$240M (Shares 2.4B@10c) (Options – 150M@4c 9/2020; 88M@4c 3/2021; 149M@7.2c 7-9/2022) Cash and receivables ~ $13M (includes $2.5M receivable from Jindal) Fraser Range – Rockford Project The Board of Directors Top 20 Sharehol
Slide 6: Investment Case - Fundamentals
INVESTMENT CASE - FUNDAMENTALS Right People For personal use only • Experienced corporate and technical team • JV Partners and major shareholders - Creasy Group (regional experience) - Independence Group (regional experience) Biggest block on best street (3,088km2 in Fraser Zone) Main Commodit
Slide 7: Location
ROCKFORD PROJECT LOCATION For personal use only • Located in northern Fraser Range district • 120km NE of Nova / 100km S of Tropicana • 100% within Fraser Zone (19% of total area) • Project potential for − Nova style Nickel-Copper − VMS style Copper-Zinc-Silver − Tropicana style Gold • Infrastructur
Slide 8: Transformational Agreements
ROCKFORD PROJECT – TRANSFORMATIONAL AGREEMENTS Joint Ventures & Capital Raise – July 2019 For personal use only • New Creasy Group JVA @ 3.6 cps • New IGO JVAs • Capital raise $9.8M @ 3.6 cps to IGO JVA Title Tenement Area km2 Ownership E28/1716 355 Ponton JVA 2019 Legend 70% / Creasy 30% E28/1617 3
Slide 9: Fraser Zone Land Holders
FRASER ZONE LAND HOLDERS For personal use only MAIN PLAYERS Legend Active & Funded Creasy Group Active & Private Independence (“IGO”) Active & ~$3.5B Mkt Cap Galileo Mining 2018 IPO – Creasy backed Regional spend producing results – value add Leverage play is Legend 9
Slide 10: Update: Mawson Prospect – Formerly Area D
ROCKFORD PROJECT UPDATE Mawson Prospect – Formerly Area D For personal use only Nov 19 – Three Diamond Drill Holes – 1,423m • RKDD005 Blebby sulphides 110-119m down hole • RKDD007 Drilled under 400x200m geochem anomaly 70.15m @ 0.52% Ni, 0.36% Cu, & 0.03% Co incl. 14.9m @ 1.07% Ni, 0.75% Cu, & 0.06%
Slide 11: Update: Mawson Prospect – RKDD007 Drill Hole Section
ROCKFORD PROJECT UPDATE Mawson Prospect For personal use only RKDD007 Drill Hole Section • Mineralisation starts 88m downhole – shallow • Inhole metal content circa $150/t • Best intercepts at mafic/ultramafic contact • Fourth publicly announced massive Ni-Cu sulphide in Fraser Zone Drill Section 6,
Slide 12: Update: Mawson Prospect – RKDD007 Downhole EM
ROCKFORD PROJECT UPDATE For personal use only Mawson Prospect RKDD007 Downhole EM • Inhole conductor 114-120m -Modelled 30x40m 1250-2000S • Offhole conductor circa 50m south & downdip -Modelled 60x60m 6000-8000S • Geological model indicates same setting as inhole location • Obvious priority diamond
Slide 13: Update: Greater Mawson Area
ROCKFORD PROJECT UPDATE Greater Mawson Area For personal use only • 16kmx6km – interpreted as clusters of intrusives • Untested geochem targets • More aircore – establish footprints • Untested EM conductors • Aircore to assist in prioritising for diamond drill testing • Hole RKDD007 has massively in
Slide 14: Update: Regional Programmes
ROCKFORD PROJECT UPDATE For personal use only Regional Programmes • MLTEM programmes at Magnus, Octagonal, Crean and Worsley • Regional aircore programmes targeting co-incident mag lows/gravity highs • Follow up diamond drilling • $4M planned expenditure 2020 Rockford Prospect Locations “Current Roc
Slide 15: 2020 Programmes - Summary
2020 PROGRAMMES - SUMMARY For personal use only • Mawson Diamond Drill and Aircore Programmes • Ongoing regional aircore programme – total to date 735 holes – 51,717m • Continued systematic approach MLTEM, FLTEM, LF EM, IP surveys • Follow up RC/DD testing EM Surveying , Rockford Project • Total $8M
Slide 16: Summary
SUMMARY For personal use only • Highly Prospective Rockford Project − Fifth year on ground <10% area first pass EM tested • Systematic/persistent/committed = going the distance! • Well Funded • Experienced Stable Team and JV Partners • Grow Shareholder Value “Highly leveraged to success” 16 T H A N