West Vault Mining Inc · TSXV:WVM
West Vault Mining — Investor Presentation (February 2024)
33 slides from West Vault Mining's investor presentation, February 2024
Slide 1: Safe, Profitable, Ready-to-build
TSXV: WVM OTCQX:WVMDF Safe Profitable Ready-to-build February 2024 1
Slide 2: Compliance with NI 43-101 and Cautionary Statements
WVM-TSXV WVMDF-OTCQX Compliance with NI 43-101 and Cautionary Statements Hasbrouck Project Pre-Feasibility Study, and Mineral Resource and Mineral Reserve Estimates. Certain information in this presentation has been taken from West Vault Mining’s news release of January 23 rd, 2023, “West Vault Mini
Slide 3: Forward-looking Statements and Cautionary Note to US Investors
WVM-TSXV WVMDF-OTCQX Forward-looking Statements and Cautionary Note to US Investors Forward-looking Information. This presentation contains forward-looking information or forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forwar
Slide 4: Strategy is everything
Strategy is everything Does moving to production increase value? – perhaps, but risky! Gold in mother nature’s vault Safe! Construction & Production Risky, costly! Reduced gold amount! 4
Slide 5: Let time work for you
Let time work for you Gold Discoveries Over Time The supply/demand equation should increase your value every day that goes by Source – Van Eck 5
Slide 6: Chairman's statement
Chairman’s statement “We believe we are entering a secular period of rising gold prices “At the right point in the cycle, we believe WVM will go from being under- valued to fully-valued “To maximize shareholder returns we will only build or sell Hasbrouck when fully-valued “Hasbrouck gold is more le
Slide 7: Strategy is everything
An early investor, Rick Rule agrees with WVM strategy “I like the strategy - it will Strategy is take time but limiting dilution around a proven deposit is a everything good strategy … … one needs to be tolerant of boredom - I am if the alternative is terror!” (“terror” = unforeseen risks facing a s
Slide 8: Our track record
Our track record • West Timmins Mining - 15 bagger From C$28 Million in 2007 to C$424 Million in 2009 • MAG Silver - 56 bagger From C$0.50/share in 2003 to C$28/share in 2021 8
Slide 9: Typical industry valuation
Typical industry valuation Project Status P/NAV Typical permitted projects in good jurisdictions 0.45 x* Typical projects at first-pour-of-gold 1.0 x* Versus WVM – construction-ready, under-valued 0.13 x** * Source - “Market Multiples of Preproduction Gold Projects as of Sep 1 2021” – Joel Schneyer,
Slide 10: A nearby transaction pegs value
A nearby transaction pegs value Centerra purchased Gemfield Project for US$206M Centerra paid US $206M* for Gemfield’s US $427 / saleable oz 483,000** permitted, saleable gold ounces versus - WVM current Market Cap US $41M for US $73 / saleable oz 561,000*** permitted, saleable gold ounces Note - Ha
Slide 11: Sprott purchases stream - validates project, pegs value
Sprott purchases stream - validates project, pegs value Sprott paid US $6.1M in 2021 for 6,509 saleable gold US $937 / saleable oz ounces from Hasbrouck* versus – WVM current Market Cap US $41M for 561,000** saleable US $73 / saleable oz gold ounces Note - the 1.4% Sprott stream replaced an existing
Slide 12: Low-dilution plan
Low-dilution plan Stock symbol TSXV: WVM OTCQX:WVMDF US $3.2M cash on Share price (Feb 20, 2024) C$0.82 hand 52-week high / low C$1.09 / C$0.75 Issued & outstanding 57,924,492 - enough for 3.5 years Options 1,611,000 Restricted Share Units 106,000 - no imminent dilution Fully diluted 59,641,492 Defe
Slide 13: Leadership team – experienced, successful
Leadership team – experienced, successful Priscila Costa Pierre Lebel, MBA Stephen Quin, BSc, Sandy McVey, Peter Palmedo Lima, BBA, CPA, Frank Hallam, BBA, CA LLB P.Geo P.Eng, PMP CMA Chairman and Independent Independent Independent CEO and COO CFO and Corporate Director Director Director Director S
Slide 14: Sophisticated shareholders
Sophisticated shareholders 71% held by high-quality institutions Sun Valley Gold 46% Ruffer 17% Eric Sprott 5% Konwave AG (Gold 2000) 3% Management & Insiders 1.5% 14
Slide 15: Hasbrouck Gold Project - permitted, construction-ready, Nevada
Hasbrouck Gold Project - permitted, construction-ready, Nevada IRR 51% after-tax @ $1,790 gold NPV5 (after-tax, $1,790 gold) US $206M Initial Capex US $66M AISC US $877/oz Recoverable Gold 561,000 oz (71,000 oz/yr) Geology + 600 boreholes, all-oxide Metallurgy 13 test programs, 75% recovery Mining 1
Slide 16: Hasbrouck Project
Highly leveraged to gold price TSXV: WVM OTCQX:WVMDF Hasbrouck Project See cautionary language about the Technical Report on page 2 Source – “Technical Report and Updated Preliminary Feasibility Study: Hasbrouck and Three Hills Gold-Silver Project, Esmeralda County, Nevada”– produced by RESPEC, Janu
Slide 17: Nevada - the top mining address
WVM-TSXV WVMDF-OTCQX Nevada - the top mining address Ranked #1 in investment attractiveness globally* Ranked #4 in gold production globally** Intersection of two prolific gold trends Tonopah – a pro-mining town * Fraser Institute Annual Survey of Mining Companies, 2022 ** Nevada Mining Association,
Slide 18: Large land package – highly prospective
WVM-TSXV WVMDF-OTCQX Exploration potential* large land package – highly prospective Three centres of mineralization 12,000 acres with exploration potential Hill of Gold – an upside opportunity All necessary infrastructure nearby * See cautionary language about exploration targets on Slide 2 18
Slide 19: Three Hills Mine - simple; quick; profitable!
WVM-TSXV WVMDF-OTCQX First pit – first 2 years Three Hills Mine - simple; quick; profitable! 71,000 oz per year No pre-strip, 0.9:1 strip ratio Run-of-mine heap leach Generates cash to build Hasbrouck Mine Expansion potential Source – “Technical Report and Updated Preliminary Feasibility Study: Hasb
Slide 20: Three Hills Mine Layout - simple
WVM-TSXV WVMDF-OTCQX First pit - first 2 years Three Hills Mine Layout - simple Simple, quick, no gold plant, contractor mining ~12 months to first gold pour Admin & assay lab in Tonopah – 1 mile Grid power - 1 mile On-site water Source – “Technical Report and Updated Preliminary Feasibility Study:
Slide 21: Three Hills Mine - strong expansion potential
WVM-TSXV WVMDF-OTCQX First pit - first 2 years Three Hills Mine - strong expansion potential Four targets Extensions to known mineralization Open high-grade corridors Potential high-grade structures See cautionary language about exploration targets on Slide 2 Source – “Technical Report and Updated P
Slide 22: Three Hills Mine eastern expansion
WVM-TSXV WVMDF-OTCQX First pit - first 2 years Three Hills Mine eastern expansion from to intercept Au HOLE m m m g/t TH12R15 93 160 67 3.2 TH14MW-1 55 95 40 1.4 TH14R-007 107 125 18 1.5 TH14R-002 162 175 14 0.6 TH14R-003 145 175 30 0.5 TH14R-004 171 223 52 0.7 TH14R-005 180 192 12 0.6 TH14R-008 131
Slide 23: Hasbrouck Mine – simple; quick; profitable!
WVM-TSXV WVMDF-OTCQX Second pit - final 6 years Hasbrouck Mine – simple; quick; profitable! 71,000 oz per year Little pre-strip, 1.2:1 strip ratio Expansion potential Source – “Technical Report and Updated Preliminary Feasibility Study: Hasbrouck and Three Hills Gold-Silver Project, Esmeralda County
Slide 24: Hasbrouck Mine Layout – simple; quick; profitable!
WVM-TSXV WVMDF-OTCQX Second pit - final 6 years Hasbrouck Mine Layout – simple; quick; profitable! • ~18 months to build • Easy road access • Grid power • On-site water Source – “Technical Report and Updated Preliminary Feasibility Study: Hasbrouck and Three Hills Gold-Silver Project, Esmeralda Coun
Slide 25: Hasbrouck Mine - strong expansion potential
WVM-TSXV WVMDF-OTCQX Second pit - final 6 years Hasbrouck Mine - strong expansion potential Multiple on-property exploration targets See cautionary language about exploration targets on Slide 2 25
Slide 26: Hasbrouck Mine - strong root potential
WVM-TSXV WVMDF-OTCQX Structural stratigraphic Second pit - final 6 years West controls high grade 39 m of 4.8 g/t Au Hasbrouck Mine - Structural intersections creating high grade strong root potential Walker Lane structure exiting pit High-grade epithermal Structural intersection heater system contr
Slide 27: Recent milestones
Recent milestones January 2023 – Entered a 28-year Water Right Lease Agreement Agreement increases water security for full project January 2023 – Updated Pre-feasibility Study 51% after-tax IRR at $1,790 gold (from 43% in 2016), US$66M initial capex See slides 38, 39, and 40 for details April 2023 –
Slide 28: In summary
Investment thesis - a compelling strategy based on TSXV: WVM a high-quality project OTCQX:WVMDF 1. Buy low, sell high - let the gold cycle do the heavy lifting In summary 2. High-margin, de-risked, best mining jurisdiction, permitted ready-to-build project 3. Highly-leveraged to gold price 4. In saf
Slide 29: We are disciplined
TSXV: WVM “Rest assured we are - OTCQX:WVMDF ▪ disciplined We are ▪ patient disciplined ▪ 100% shareholder-focused” Peter Palmedo WVM Chairman and President of Sun Valley Gold 29
Slide 30: thank you, please call
thank you, please call Sandy McVey, CEO, M.Sc., P.Eng, PMP smcvey@westvaultmining.com P: 778 388 2464 TF: 1-866-899-5450 838 – 1100 Melville Street Vancouver, BC V6E 4A6 www.westvaultmining.com TSXV: WVM OTCQX:WVMDF 30
Slide 31: 2023 Pre-feasibility summary
WVM-TSXV 2023 Pre-feasibility summary WVMDF-OTCQX Hasbrouck Units Three Hills Mine Hasbrouck Mine RESERVE & MINING Project Ore million tons 10 34 44 Stripping Ratio waste:ore 0.9 1.2 1.1 In-situ Gold Grade g Au/t 0.6 0.6 0.6 Contained Gold Amount koz 175 578 753 Gold Recovery % 82.7% 72.1% 74.6% Rec
Slide 32: Mineral Resource
WVM-TSXV WVMDF-OTCQX Mineral Resource (Includes Reserve) Three Hills Deposit Reported Mineral Resources* December 15, 2022, (0.005oz Au/ton Cutoff) Class K Tons oz Au/ton K oz Au Indicated 10,423 0.018 185 Inferred 1,008 0.017 17 Hasbrouck Deposit Reported Mineral Resources* December 15, 2022, (0.00
Slide 33: Mineral Reserve
WVM-TSXV Mineral Reserve WVMDF-OTCQX (included in Measured and Indicated Resource) Hasbrouck Gold Project Reserves, January 11, 2023, RESPEC (1, 2) K tons Grade K oz Au Grade K oz Ag Ore (oz Au/ ton) (oz Ag/ton) Three Hills Mine Reserves 0.005 opt Proven - - - - - Au cutoff Probable 9,653 0.018 175
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