Torque Metals Ltd. · ASX:TOR
Torque Metals — Merger or Acquisition (January 2025)
33 slides from Torque Metals's merger presentation, Jan 28, 2025
Slide 1: Torque Metals and Aston Minerals to Merge
TORQUE METALS AND ASTON MINERALS TO MERGE MERGE OF EQUALS TO CREATE A DIVERSIFIED, LEADING GOLD FOCUSED EXPLORER ASX: TOR MERGER PRESENTATION | JANUARY 2025
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT THIS PRESENTATION CONTAINS SUMMARY INFORMATION ABOUT TORQUE METALS LIMITED (ACN 621 122 905) (“TORQUE OR “THE COMPANY”) AND ASTON MINERALS LIMITED (“ASTON”). THE INFORMATION IN THIS PRESENTATION IS OF GENERAL BACKGROUND AND DOES NOT PURPORT TO BE COMPLETE. This Presentation, inc
Slide 3: Prime Assets in Prolific Gold Belts
PRIME ASSETS IN PROLIFIC GOLD BELTS PROJECTS ON TWO PREMIER GOLD PROVINCES, WITH PROMINENT INFRASTRUCTURE Paris on the WA Boulder-Lefroy Fault, host to over 70Moz gold Edleston on the Abitibi Greenstone Belt, host to over 144Moz gold¹ RESOURCE GROWTH Paris 250,000 oz @ 3.1 g/t gold , ~1,200km², ~1%
Slide 4: The Assets
THE ASSETS MERGE TO CREATE A WELL-FUNDED GROWTH DRIVEN GOLD FOCUSED EXPLORER PARIS GOLD PROJECT THE RESOURCE THE GOLD GRADES THE NEIGHBOURS 250,000 ounces of 15m @ 12.57 g/t6 Goldfields JSE: GFI shallow gold at 3.1g/t, 35m @ 14.12 g/t7 Westgold ASX: WGX with additional 16.3m @ 7.95 g/t7 Northen Star
Slide 5: The Strategy - A Merged Entity with Aggressive Exploration Initiatives
THE STRATEGY - A MERGED ENTITY WITH AGGRESSIVE EXPLORATION INITIATIVES THE OPPORTUNITY THE RATIONALE THE OBJECTIVE Australian and Canadian gold projects offering Proximal to significant infrastructure, world- Unlock the potential of the Paris Gold Camp in premium valuation multiples class gold Compa
Slide 6: The Geology
PARIS GOLD PROJECT THE GEOLOGY Super Pit 1031,6 Moz Au Beta Hunt Mount Belches TWO PREMIER GOLD PROVINCES, WITH PROMINENT INFRASTRUCTURE 72,64 Koz Au 91,7 Moz Au Bullabulling Invincible 122,3 Moz Au 8516 Koz Au Victory – Defiance – Leviathan 11 ~ 3,7 Moz Au Astral 51,2 Moz Au PARIS GOLD PROJECT EDLE
Slide 7: The Board
THE BOARD A PROVEN TRACK RECORD OF DELIVERING VALUE TO SHAREHOLDERS ANDREW WOSKETT TOLGA KUMOVA Non-Executive Chairman Non-Executive Director • Over 40 years of project and corporate experience in the • Over 15 years’ experience in stockbroking, corporate finance and resources industry. corporate re
Slide 8: Paris Gold Project
PARIS GOLD PROJECT A STANDOUT ASSET, PRIMED FOR RAPID RESOURCE GROWTH
Slide 9: Goldfields
1Refer to ASX: AAR Announcement dated 18 November 2024 – Noosa Mining Conference Presentation 2Refer to ASX: MXR Announcement dated 7 November 2024 – AGM Presentation 3Refer to ASX: WGX Announcement dated 16 September 2024 – 2024 MINERAL RESOURCE ESTIMATE AND ORE RESERVES NORTHEN STAR-KCGM 4Refer to
Slide 10: Prime Assets in Prolific WA's Gold Belt
PRIME ASSETS IN PROLIFIC WA’S GOLD BELT HIGH-QUALITY GOLD DEPOSITS, STRONG GROWTH POTENTIAL ~1200 km2 SIGNIFICANT GOLDFIELDS LANDHOLDING Beta Hunt, Invincible, Higginsville, St Ives, Bald Hill PROXIMATE TO PROCESSING INFRASTRUCTURE 14 ML’s, 3 PL’s, 50 EL’s DEVELOPMENT-READY MERGER PRESENTATION
Slide 11: Paris Gold Project - Key Investor Highlights
PARIS GOLD PROJECT KEY INVESTOR HIGHLIGHTS 250,000 @ 3.1g/t MINERAL RESOURCE ESTIMATE A$3,000/Oz² Open pit: 190,000 @ 2.9g/t Au Underground: 60,000 @ 3.8g/t Au New drilling extended gold mineralisation, results inc.15m @ 12.57 g/t Au³ EXTENSIVE AND PROSPECTIVE LAND AREA Fertile geology of ~350km2 in
Slide 12: Paris Gold Deposit
PARIS GOLD DEPOSIT 152,000 OZ @ 4.3 G/T GOLD RESOURCE CLASSIFICATION 284Kt @ 3.7g/t god for 34,000 ounces (22%) classified as Indicated. 810Kt @ 4.5g/t gold for 118,000 ounces (78%) classified as Inferred. ¹Refer to ASX:TOR Announcement dated 17 July 2024 – “Drilling Resumes at Paris Gold Project” W
Slide 13: Paris Gold Deposit
PARIS GOLD DEPOSIT 152,000 OZ @ 4.3 G/T GOLD Beta Hunt mineral resources 2,647koz @ 2.69g/t Au RESOURCE CLASSIFICATION 284Kt @ 3.7g/t god for Beta Hunt mineral resources 2,647koz @ 2.69g/t Au 34,000 ounces (22%) classified as Indicated. 810Kt @ 4.5g/t gold for 118,000 ounces (78%) classified as Infe
Slide 14: HHH Gold Deposit
HHH GOLD DEPOSIT 73,000 OZ @ 2 G/T GOLD Beta Hunt mineral resources 2,647koz @ 2.69g/t Au RESOURCE CLASSIFICATION 97Kt @ 3.3g/t gold for Beta Hunt mineral resources 2,647koz @ 2.69g/t Au 10,000 ounces (14%) classified as Indicated. 1048Kt @ 1.9g/t gold for 63,000 ounces (86%) classified as Inferred.
Slide 15: Observation Gold Deposit
OBSERVATION PIT OBSERVATION GOLD DEPOSIT 25,000 OZ @ 2.8 G/T GOLD RESOURCE CLASSIFICATION 225Kt @ 2.7g/t gold for 19,000 ounces (76%) classified as Indicated. 54Kt @ 3.5g/t gold for 6,000 ounces (24%) classified as Inferred. E W W E ¹Refer to ASX:TOR Announcement dated 28 April 2022 – “High Grade Go
Slide 16: Paris Gold Project - Potential
PARIS GOLD PROJECT - POTENTIAL KEY INVESTOR HIGHLIGHTS STRAUSS PROSPECT Best result to date 8m @ 1.7 g/t from 64m Strauss Prospect is not included in the existent MRE MAYNARDS DAM PROSPECT Best result to date 5m @ 16.97 g/t from 21m Maynards Dam Prospect is not included in the existent MRE TRIUMPH E
Slide 17: New Dawn Gold Potential
NEW DAWN GOLD POTENTIAL KEY INVESTOR HIGHLIGHTS PRYDE PROSPECT RUMBLES PROSPECT PROXIMITY TO PROVEN DEPOSITS CHOPIN PROSPECT Adjacent of Mount Belches Mining Centre, 50 km south-east of Kalgoorlie, within the Goldfields Region of Western Australia. MOUNTBELCHES VAULT MIREINERALS 1,765koz @3.3 g/t Au
Slide 18: Penzance Gold Project - Potential
PENZANCE GOLD PROJECT - POTENTIAL KEY INVESTOR HIGHLIGHTS GRANTED TENEMENTS IN A TIER-1 GOLD REGION 70km South of Kalgoorlie, premier gold mining jurisdiction, surrounded by high-quality WESTGOLD gold projects such as Invincible NYSE: GFI and Mandilla ASX: AAR. Beta Hunt 2,647 Koz @2.69 g/t Au INVIN
Slide 19: Edleston Gold Project
EDLESTON GOLD PROJECT A PROMISING NEW ACQUISITION IN A TIER-1 MINING JURISDICTION
Slide 20: Edleston Project Comparison and References
1Refer to ASX:ASO Announcement 19 January 2023: Maiden Gold Mineral Resource of 1.5 Moz Au Delineated at Edleston Project, Ontario, Canada 2Refer to ASX:ASO Release “Further metallurgical testing of gold at Edleston Main Zone achieves up to 93.3% recovery”, 23 January 2024 3Refer to Alamos Gold Inc
Slide 21: Prime Asset in Renowned Abitibi's Greenstone Belt
PRIME ASSET IN RENOWNED ABITIBI’S GREENSTONE BELT HIGH-QUALITY GOLD DEPOSITS, STRONG GROWTH POTENTIAL ~310km2 SIGNIFICANT LANDHOLDING IN MINING FRIENDLY JURISDICTION, ONTARIO CANADA ALAMOS GOLD, IAMGOLD, NEWMONT PROXIMATE TO PROCESSING INFRASTRUCTURE MINERAL RESOURCE ON GRANTED MINING LICENCES DEVEL
Slide 22: Edleston Gold Project - Key Investor Highlights
EDLESTON GOLD PROJECT KEY INVESTOR HIGHLIGHTS 1,500,000 @ 1g/t JORC RESOURCE¹ Systematic exploration controlled by IP geophysical anomalies EXTENSIVE AND PROSPECTIVE LAND AREA Project controlled by Aston, ~310km² in Abitibi Greenstone Belt, host of over 144Moz Au.³ >90% METALLURGICAL RECOVERY RATE²
Slide 23: Edleston Gold Deposit
EDLESTON EDLESTON GOLD DEPOSIT 1,500,000 OZ @ 1.0 G/T GOLD RESOURCE CLASSIFICATION 14Mt @ 0.9g/t gold for 400,200 ounces (29.1%) classified as Indicated. 34.1Mt @ 1.0g/t gold for 1,099,800 ounces (70.9%) classified as Inferred. W E ¹Refer to ASX: ASO Announcement dated 31 October 2024 – September 20
Slide 24: Edleston Gold Project
EDLESTON EDLESTON GOLD PROJECT 1,500,000 OZ @ 1.0 G/T GOLD RESOURCE CLASSIFICATION 14Mt @ 0.9g/t gold for 400,200 ounces (29.1%) classified as Indicated. 34.1Mt @ 1.0g/t gold for 1,099,800 ounces (70.9%) +478800 classified as Inferred. ¹Refer to ASX: ASO Announcement dated 31 October 2024 – Septembe
Slide 25: Discovery and Exploration History
DISCOVERY AND EXPLORATION HISTORY ASTON MINERALS 2011 2012 • Dale’s Former Company 55 North • Secured Edleston • IP Surveys Identify • Reconnaissance Drilling Targets IP Mining Inc Completed Structural Study Chargeability Anomalies Chargeability Anomalies • Direct Pegging and Deals • Interpreted Cad
Slide 26: Supplementary Assets
SUPPLEMENTARY ASSETS NICKEL AND LITHIUM PROJECTS, LOW HOLDING COSTS GLOBAL MINERAL RESOURCES ESTIMATE Boomerang Nickel-Cobalt project estimated at 1,270 Mt (Indicated + Inferred) at 0.27% Ni and 109 ppm Co (0.30%NiEq¹) at a cut-off grade of (0.265% NiEq¹)². INDICATED MINERAL RESOURCE 231 Mt at 0.27%
Slide 27: Supplementary Assets
SUPPLEMENTARY ASSETS NICKEL AND LITHIUM PROJECTS, LOW HOLDING COSTS EXPLORATION TARGET, MRE READY New Dawn Lithium project with an Exploration target in 40% of the project including 8 -14 Mt @ 1.0 -1.2% Li₂O, Spodumene mineralisation². KNOWN LITHIUM JURISDICTION 600m west of and abutting the operati
Slide 28: A Compelling Investment Proposition
A COMPELLING INVESTMENT PROPOSITION WHY INVEST WHITH TORQUE Proven track record of 250,000oz @ 3.1 g/t gold BOARD OF DIRECTORS AND delivering value to CONSISTENT 1,500,000oz @ 1 g/t gold CAPITAL STRUCTURE shareholders GOLD GRADES open gold resources ~1,500km² of granted In-house expertise in WA GOLD
Slide 29: torquemetals.com
TORQUE METALS LIMITED ASX:TOR ABN 44 621 122 905 UNIT 8, 16-18 NICHOLSON ROAD +61 (0) 410 280 809 SUBIACO, WA 6008 admin@torquemetals.com torquemetals.com
Slide 30: Pro Forma Capital Structure
PRO FORMA CAPITAL STRUCTURE AUD $11.4/RESOURCE OUNCE POST COMPLETION OF MERGER Item Units Pro Forma Torque shares on issue (M) 249.6 Placement shares to issue (M) 20 Scheme Share Consideration to Aston shareholders¹ (M) 249 Cancellation of Aston options for Torque shares² (M) 0.13 Pro Forma Torque S
Slide 31: Transaction Summary
TRANSACTION SUMMARY STRENGTHENED BALANCE SHEET TO ADVANCE PORTFOLIO OF HIGH-QUALITY GOLD ASSETS • Acquisition of 100% of the fully paid ordinary shares in Aston Minerals Limited (Aston) by Torque Metals Limited (Torque) via a scheme of arrangement (Scheme and PROPOSED MERGER Proposed Merger) • Aston
Slide 32: Transaction Summary
TRANSACTION SUMMARY STRENGTHENED BALANCE SHEET TO ADVANCE PORTFOLIO OF HIGH-QUALITY GOLD ASSETS • Combined JORC Mineral Resources of 1.75Moz Au1 strategically located within proximity to significant infrastructure Torque’s Paris Gold Project SUBSTANTIAL GOLD o Mineral Resource of 250koz @ 3.1 g/t Au
Slide 33: Timetable and Next Steps
TIMETABLE AND NEXT STEPS A Scheme booklet containing the relevant information on the Scheme, including the basis for the Aston board’s unanimous recommendation that aston shareholders and unlisted option holders vote in favour of the merger, an independent expert report and details of the Scheme, wi