Slide 1: Cobalt and Nickel IPO Resources & Exploration Corporate Presentation
Cobalt and Nickel IPO Resources & Exploration Corporate Presentation Brad Underwood | Managing Director | 30 May 2018 ASX : GAL © Galileo Mining Ltd 2018
Slide 2: Disclaimer
Disclaimer This Presentation (“Presentation” or the “Document”) has been prepared by Galileo Mining Ltd (ACN 104 114 132) (“Company”) and is general background information about the Company and its wholly owned subsidiaries activities as at the date of this Presentation. This Document is prepared fo
Slide 3: Presentation Outline
Presentation Outline Resource Development • Norseman Cobalt Project Exploration • Cobalt • Palladium & Platinum • Fraser Range Nickel, Copper, Cobalt Structure of IPO • Company • Capital Structure • Value Drivers 3
Slide 4: Project Locations
Project Locations Western Australia • Stable jurisdiction • Known development pathways • Battery mineral mines Norseman Cobalt Project • 20Mt JORC resource (Details on slide 5) • 22,500t Co & 106,000t Ni • World class infrastructure • Exploration upside Fraser Range Project • Strategic tenements in
Slide 5: Norseman Cobalt Project
Norseman Cobalt Project JORC 2012 Resource Estimates Cut‐off grade (ppm cobalt) Class Tonnes (Mt) Cobalt (%) Cobalt (Kt) Nickel (%) Nickel (Kt) 600 Indicated 10.5 0.12 12.1 0.58 60.8 600 Inferred 9.7 0.11 10.4 0.47 45.2 Total Resources (600 ppm cutoff) 20.2 0.11 22.5 0.52 106 1,000 Indicated 5.2 0.1
Slide 6: Norseman Exploration
Norseman Exploration Exploration Target* • 10-20 Mt @ 0.1 to 0.12% cobalt exploration target • Dominant land holding • Resource extensions • 6 identified targets • 15,000m drilling program Palladium/Platinum • 20m @ 1.3ppm Pd & 0.8ppm Pt from 30m (MTRC112) • Native Palladium and Sperrylite * The pot
Slide 7: Deposit Geology
Deposit Geology Plan and section • Shallow flat lying ore- body, 20-30m deep • 0.7 strip ratio (ore > waste) • Contiguous high grade • Cobalt rich asbolite in clay matrix 7
Slide 8: Metallurgical Development
Metallurgical Development Phase 1: Ore characterisation (1-2 months) • Diamond drilling to obtain core for variability testing • Detailed mineralogy, XRD, QEMSCAN Phase 2: Lab and pilot scale tests (3-4 months) • Identification of best pathway for Cobalt & Nickel recovery • Pilot testing of flowshee
Slide 9: Fraser Range Project
Fraser Range Project JV with Creasy Group • Two prospect areas • Yardilla area, 35km from Nova mine site • Kitchener Area, 80km from Nova mine site • Both areas are prospective for Nova style nickel- copper-cobalt deposits • JV partner with deep knowledge of the Fraser Range belt 9
Slide 10: Structure of IPO
Structure of IPO Board and Management • Simon Jenkins, Chairman, Lawyer • Brad Underwood, Managing Director, Geologist • Noel O’Brien, Technical Director, Metallurgist Major Shareholders • Mark Creasy holds 31% • Independence Group (4.9%), Chris Ellison (4.2%) • Top 20 Shareholders = 57% 10
Slide 11: Capital Structure
Capital Structure Market Cap and EV Offer and capitalisation overview: Expected listing date: 29th May 2018 Market cap at IPO price $24.1m Post IPO Enterprise Value $12.5m IPO shares issued: 75m (maximum subscription) IPO price $0.20 IPO amount raised $15m Shares on issue post IPO 120.3m Cash post p
Slide 12: Peer Comparisons
Peer Comparisons Cut-off Current Market Net Tonnes Cobalt Nickel Deposit EV EV/ Co(kt) Company ASX Code Project (ppm Class Cobalt % Nickel % Share Cap Debt (Mt) (Kt) (Kt) Type ($m) ($m) Co) Price ($m) ($m) Galillio Mining Limited Noseman Cobalt Project 600 Indicated 10.5 0.12% 0.58 12.1 60.8 Infered
Slide 13: Value Drivers & News Flow
Value Drivers & News Flow • Field program announcement • June to September: resource, metallurgical and exploration drilling • August to December: resource updates, scoping studies, permitting • Fraser Range: prospect development moving towards drill targets 13
Slide 14: Galileo Summary
Galileo Summary IPO Highlights • Strong shareholder base (Creasy, IGO, Ellison) • One of a few cobalt assets coming to market in a developed location • JORC resources at a very attractive valuation • Exploration targets with potential for further discovery • Fraser Range, exposure to a prospective u
Slide 15: www.galileomining.com.au
www.galileomining.com.au