Duketon Mining Ltd · ASX:DKM
Duketon Mining — Australian Nickel Conference 2022
21 slides from Duketon Mining's conference presentation, Oct 6, 2022
Slide 1: Advancing the Duketon Nickel Project
Advancing the Duketon Nickel Project Australian Nickel Conference 6 October 2022 ASX: DKM 1 www.duketonmining.com.au
Slide 2: Cautionary Statement
Cautionary Statement This presentation has been prepared by Duketon Mining Limited (“Duketon”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Duketon has no
Slide 3: Company Snapshot
Company Snapshot About Duketon Mining Shareholder Information - as at 7 September 2022 Duketon Mining Limited is a Western Australia focused mineral resources Harmanis 18.4% Holdings exploration and development company with flagship nickel projects at Rosie and Rosie & C2 Institutional 9.2% Nickel R
Slide 4: Experienced Board and Management
Experienced Board and Management SEAMUS CORNELIUS – Non-Executive Chairman Mr Cornelius is an experienced international corporate lawyer and company director. He was a partner with a major international law firm from 2000 to 2010 and resided in China from 1993 until 2017. In 2010, Mr Cornelius comme
Slide 5: Investment Highlights
Investment Highlights HIGH DEMAND FOR NICKEL Electric vehicle batteries Commodity for a clean future Class 1 nickel sources likely to demand a premium POTENTIAL UPSIDE Exploration upside within Duketon Belt - drilling and gpx underway Rosie & C2 open along strike and at depth MULTIPLE DEVELOPMENT OP
Slide 6: www.duketonmining.com.au
6 www.duketonmining.com.au
Slide 7: Strategic Location/Value Proposition
Strategic Location/Value Proposition Large land position – multiple projects 94,300t of nickel metal in JORC resources* 14,100t of copper metal in JORC resources 255koz PGE’s in JORC resources Positive metallurgical results at Rosie and C2 Positive scoping study at Rosie Access to most prospective t
Slide 8: Positive Scoping – Platform for Growth
Positive Scoping – Platform for Growth* Confirms the viability of a mining, trucking & toll treating operation assuming an 8-year mine life Ni price of US$8/lb (range US$7.50/lb to US$8.50/lb) NPV5 of ~$161M (range $56M to $204M) IRR of ~54% (range 21% to 66%) Pre-tax cashflow of ~$223M (range $91M
Slide 9: 94kt Ni, 14kt Cu, 255koz PGE’s & growing
94kt Ni, 14kt Cu, 255koz PGE’s & growing Rosie Nickel Deposit Mineral Resource Estimate 2022* 56,300t nickel, 11,800t copper, 229,000oz PGE’s C2 Nickel Deposit Mineral Resource Estimate 2015* 38,000t nickel, 2,300t copper, 26,000oz PGE’s Both deposits open at depth and along strike 9 See ASX announc
Slide 10: Rosie Long Section
Rosie Long Section 10 See ASX Announcement 9 September 2021 www.duketonmining.com.au
Slide 11: Rosie Drill Core
Rosie Drill Core 9.22M @ 4.96% Ni, 0.41% Cu and 2.41 g/t Pt+Pd* 11 *Includes 5.65m @ 7.1%Ni, 0.5%Cu & 3.8g/t Pt+Pd See ASX Announcement 2 December 2014 www.duketonmining.com.au
Slide 12: C2 Cross Section
C2 Cross Section Large Tonnage Cut-Off (Ni %) Tonnes Grade (Ni %) Ni (t) 0.3 18,775,665 0.5 88,902 0.4 10,776,805 0.6 60,356 0.5 5,721,787 0.7 37,967 0.6 3,008,201 0.8 23,249 0.7 2,019,653 0.8 16,940 0.8 1,018,985 0.9 9,503 0.9 641,066 1.0 6,265 1 148,053 1.1 1,577 1.1 62,461 1.1 694 12 See ASX Anno
Slide 13: Positive Metallurgical Testwork – Rosie
Positive Metallurgical Testwork – Rosie High Quality Concentrate Ni recovery up to 97% Intermediate concentrate up to 22% Ni Nickel concentrate grading 16% Ni and 7g/t total PGE’s from massive ore Bulk concentrate grading 15% (Ni+Cu) and 12g/t total PGE’s from violarite ore High Fe:MgO PGE’s recover
Slide 14: Positive Metallurgical Testwork – C2
Positive Metallurgical Testwork – C2 High Quality Concentrate C2 Responds well to conventional flotation Produces a saleable concentrate Nickel recovery as high as 77.3% to a saleable grade concentrate Fe:MgO 12-20:1 Concentrate grades range from 11-18% Ni Latent value unlocked 14 See ASX Announceme
Slide 15: Duketon North
Duketon North Multiple EM Responses and Ni Sulphides Ultramafics of Duketon North highly prospective for Ni Sulphides Extensive surface geochemistry, U/M contacts outlined by elevated Cu and Ni Historic drilling has intersected sulphides within serpentinised peridotites Ultramafic contacts not speci
Slide 16: Tate
Tate Mafic Intrusive Model Magnetics reveal the presence of two features – likely intrusives with remnant magnetism Interpreted to be late mafic intrusives Beneath 8m of transported cover 6km x 1.2km & 2.2km x 1.2km BOH geochemistry 143ppm Ni, 86ppm Cu, 86ppm Zn, 2710ppm Mn and 9.9% Fe Historic wide
Slide 17: Concluding Remarks
Concluding Remarks MINING STUDY Study being refined based on updated resource model. Assessing standalone concentrator, Rosie + C2 EXPLORATION Ground EM underway Drilling underway CORPORATE Cash (+ liquids) balance of ~$18.5M Market Capitalisation $36.0M Enterprise Value $17.5M LEVERAGED TO DEVELOPM
Slide 18: Stuart Fogarty, Managing Director, Duketon Mining Limited
Stuart Fogarty Managing Director Duketon Mining Limited Level 2, 25 Richardson Street West Perth WA 6005 Ph: +61 8 6315 1490 Website: duketonmining.com.au Email: admin@duketonmining.com.au www.duketonmining.com.au 18
Slide 19: Appendix 1: Duketon Nickel Resources
Appendix 1 : Duketon Nickel Resources Rosie Nickel Resource >1% NiEq Total Ni Cu Co NiEq Classification Sulphide Tonnes PGEs (%) (%) (ppm) (%) (g/t) Pentlandite 1,191,555 2.4 0.42 642 2.7 3.76 Indicated Violarite 820,999 1.7 0.39 504 2.5 2.75 Sub-Total 2,012,553 2.1 0.41 585 2.6 3.35 Pentlandite 694
Slide 20: Appendix 1: Duketon Nickel Resources
Appendix 1 : Duketon Nickel Resources C2 Nickel Resource >0.5%Ni Classification Oxidation Tonnes Ni (%) Cu (%) Pt (ppb) Pd (ppb) S (%) Fresh 5,100,000 0.7 0.04 60 79 3.3 Inferred Transitional 600,000 0.6 0.04 72 105 0.9 Total 5,700,000 0.7 0.04 61 82 3.1 Table 3. C2 Mineral Resource Grade C2 Nickel
Slide 21: Appendix 2: C2 Grade Tonnage
Appendix 2 : C2 Grade Tonnage Figure 1: Grade Tonnage Curve at Ni cut-offs. Cut-Off (Ni %) Tonnes Grade (Ni %) Ni (t) 0.3 18,775,665 0.5 88,902 0.4 10,776,805 0.6 60,356 0.5 5,721,787 0.7 37,967 0.6 3,008,201 0.8 23,249 0.7 2,019,653 0.8 16,940 0.8 1,018,985 0.9 9,503 0.9 641,066 1.0 6,265 1 148,053