Chalice Mining Limited · ASX:CHN
Chalice Mining — Shareholder Meeting (November 2024)
51 slides from Chalice Mining's shareholder meeting presentation, Nov 21, 2024
Slide 1: AGM - Chair's Address and Managing Director's Presentation
ASX Announcement 21 November 2024 AGM - Chair’s Address and Managing Director’s Presentation Chalice Mining Limited (“Chalice” or “the Company”, ASX: CHN) is pleased to provide, in accordance with Listing Rule 3.13.3, the Chair’s Address and the Managing Director and Chief Executive Officer’s Presen
Slide 2: Forward Looking Statements
Such factors may include, among others, risks related to actual results of current or planned exploration and development activities; whether geophysical and geochemical anomalies are related to economic mineralisation or some other feature; obtaining appropriate approvals to undertake exploration a
Slide 3: Chair's Address – 2024 Annual General Meeting
ASX Announcement 21 November 2024 Chair’s Address – 2024 Annual General Meeting Good morning, everyone. My name is Derek La Ferla, Chair of Chalice Mining, and on behalf of the Board and all of the Chalice team I would like to welcome you to the Company’s Annual General Meeting for 2024. I’d like to
Slide 4: Chair's Address (continued)
do eventually turn. Our project has scale, long life and is predicted to be in the 2nd quartile of the PGE industry cost curve, making it the leading PGE investment opportunity globally. Over the past 12 months we have made strong progress at Gonneville. In April 2024, an updated Mineral Resource Es
Slide 5: Chair's Address (continued)
As previously announced, Stephen McIntosh is not standing for re-election today but will remain as a key member of our Technical Committee. On behalf of the Board and the Company, I would like to express our sincere gratitude to Stephen for his dedication and the outstanding service he has provided.
Slide 6: 2024 Annual General Meeting
For personal use only 2024 Annual General Meeting 21 NOVEMBER 2024 ASX:CHN ASX: CHN
Slide 7: Agenda
Agenda For personal use only 01 Chair’s Address 02 MD & CEO Presentation 03 Item 1 – Annual Report & Questions 04 Item 2 – Resolutions, Proxies & Voting ASX: CHN 2
Slide 8: Board of Directors and Executive Management
Board of Directors and Executive Management Board of Directors Key Management Derek La Ferla, Non-Executive Chair Chris MacKinnon, CFO For personal use only • Highly regarded ASX200 chair and company director with • Qualified accountant and lawyer with 15+ years experience of 30+ years experience as
Slide 9: Chair's Address
For personal use only ANNUAL GENERAL MEETING Chair’s Address Derek La Ferla ASX: CHN
Slide 10: MD & CEO Presentation
For personal use only ANNUAL GENERAL MEETING MD & CEO Presentation Alex Dorsch ASX: CHN
Slide 11: Cautionary statements and competent person(s) disclosure
Cautionary statements and competent person(s) disclosure Authorisation Forward Looking Statements This Presentation has been authorised for release by the Disclosure Committee. This Presentation may contain forward-looking statements and forward information, (collectively, forward-looking statements
Slide 12: Cautionary statements and competent person(s) disclosure (cont'd.)
Cautionary statements and competent person(s) disclosure (cont’d.) Reliance on Third Party Information Production Targets and Forecast Financial Information The views expressed in this Presentation contain information that has been derived from third party sources that have not been The production t
Slide 13: Chalice Mining is a leading critical minerals explorer-developer in Western Australia
Chalice Mining is a leading critical minerals explorer-developer in Western Australia Tier-1 scale Resource in WA – the Gonneville Project For personal use only • 100% ownership of one of the largest undeveloped PGE-Ni-Cu-Co (critical minerals) resources in the western world • 17Moz of Pd-Pt-Au (3E)
Slide 14: Uniquely strong financial position and a stable, highly institutional register
Chalice has a uniquely strong financial position and a stable, highly institutional register Major shareholders3 ASX:CHN 12-month performance For personal use only Tim Goyder 2.50 11% Retail/Other 2.00 Institutional Paradice (5%) 53% Others (31%) 1.50 36% 1.00 0.50 Capital structure 0.00 Shares on i
Slide 15: 2024 has been another volatile year for palladium and nickel prices
2024 has been another volatile year for palladium and nickel prices, which remain at 4-6yr lows 12-month relative price performance (rebased to ASX: CHN) For personal use only 2.1 ASX:CHN Palladium (LBMA) Nickel (LME) Copper (LME) 1.9 1.7 +8% 1.5 +1% -5% 1.3 -9% 1.1 0.9 0.7 0.5 23-Nov-23 23-Dec-23 2
Slide 16: Our discovery in 2020 defined the Company's DNA
Our discovery in 2020 defined the Company’s DNA – we have a dual focus on developing Gonneville and making further discoveries For personal use only 01 02 03 Generate New Discoveries Define New Resources De-Risk Development • Conceptualise, define and prioritise new • Make new major discoveries and
Slide 17: Market Outlook
For personal use only Market Outlook ASX: CHN 12
Slide 18: Big critical minerals discoveries are becoming increasingly rare
Big critical minerals discoveries are becoming increasingly rare in the western world – demand is likely to outpace supply over long term Number of base metal (Ni, Cu, Zn, Pb) discoveries in the World by size – 1900-2021 50 only Post WWII boom and new Rise of China and surge in 60 modern exploration
Slide 19: Why palladium and platinum?
Why palladium and platinum? This was a common sight in the 90’s, prior to the adoption of catalytic converters Los Angeles 1998 For personal use only ASX: CHN 14
Slide 20: Catalytic converters have driven a remarkable improvement in air quality
Palladium and platinum based catalytic converters have driven a remarkable improvement in air quality and health globally Los Angeles 2020 For personal use only ASX: CHN 15
Slide 21: Why palladium? BEV adoption has plateaued and hybrid sales are growing
Why palladium? Battery electric vehicle adoption has reached a plateau and hybrid EV sales are growing rapidly Total passenger vehicle sales (China, US, Europe) For personal use only • Western car manufacturers are scaling back their Vehicles without Palladium (BEV) Vehicles with Palladium (ICE, HEV
Slide 22: Palladium price looks poised for recovery
Given strong demand and geopolitical environment, palladium price looks poised for recovery – Chalice is the leading development play Chalice share price (A$/share) vs Palladium spot price (US$/oz, LBMA) For personal use only 12.00 3,500 Chalice Palladium Norilsk 3,000 10.00 flooding Palladium spot
Slide 23: Gonneville Project
For personal use only Gonneville Project Project update and priorities ASX: CHN
Slide 24: Gonneville PGE-Ni-Cu-Co Project Overview
Gonneville PGE-Ni-Cu-Co Project Overview A new long-life, low-cost, low-carbon, strategic critical minerals project in Western Australia Strategic MOU with Mitsubishi Corporation For personal use only Top tier development partner, intention to formalise a potential binding partnership post PFS1 Tier
Slide 25: Gonneville has 'Strategic' and 'Major Project' Status
Gonneville has ‘Strategic’ and ‘Major Project’ Status – formal recognition of the importance of the Project by the WA and Federal Governments For personal use only September 2024: Awarded ‘Strategic Project Status’ by the WA State Government • Awarded by the WA Premier Hon Roger Cook MLA and Departm
Slide 26: The tier-1 scale Gonneville Resource starts at surface
The tier-1 scale Gonneville Resource starts at surface, is drilled-out to ~450m deep and is open beyond ~1.1km deep Gonneville Resource Plan View Gonneville Resource 3D View looking NNE For personal use only ~1,200 drill holes for ~320,000m completed since discovery in March 2020 ASX: CHN 21
Slide 27: The rare Gonneville Resource has high-grade optionality and growth potential
The rare Gonneville critical minerals Resource has high-grade optionality and compelling growth potential High Grade Mineral Resource Estimate1: Gonneville NSR Grade-Tonnage table2 For personal use only • 59Mt @ 2.0g/t 3E (Pd+Pt+Au), 0.20% Ni, 0.21% NSR Cut-off NSR Cut-off in Total Mass Grade in-pit
Slide 28: Development strategy: start simple and phase up over time
The development strategy for the Project is to start as simple as possible and phase up in scale and processing complexity over time The ongoing Pre-Feasibility Study is investigating a two-stage development plan: For personal use only Stage Life (yrs) Mining method Processing Flowsheet Objectives •
Slide 29: Stage process flowsheet targeting simple products
Stage 1 process flowsheet to target simple products with staging options being evaluated in the initial phase of the PFS Sizing Grinding For personal use only Oxide feed Pd-Au Leach Crushing Grinding Copper Flotation Nickel Flotation Sulphide feed Offtake of doré to western precious metal refinery •
Slide 30: Recent testwork highlights upside on recoveries and operating costs
Recent testwork has highlighted upside potential on recoveries and opportunities to reduce operating costs Recent leach testwork has highlighted Sizing Grinding potential for material reduction in operating costs relative to 2023 Scoping Study For personal use only Oxide feed Pd-Au Leach Crushing Gr
Slide 31: Offtake terms are expected to be attractive
Offtake terms are expected to be attractive given high-grade of products, low impurities and western source Copper-PGE-Au Ni-PGE-Co Nickel-Cobalt For personal use only Concentrate Concentrate Intermediate Product • High value concentrate with negligible • High value concentrate with very low • High
Slide 32: Gonneville expected to be a very competitive asset with 2nd quartile AISC
Gonneville is expected to be a very competitive asset in production, surviving all price cycles with 2nd quartile AISC PGE industry all-in sustaining cost curve (cash costs plus sustaining CapEx), net of by-product credits, US$/oz 4E 2023A1 For personal use only Quartile 1 Quartile 2 Quartile 3 Quar
Slide 33: Regional Exploration
For personal use only Regional Exploration ASX: CHN
Slide 34: Chalice has defined >40 targets in the West Yilgarn Province
Beyond Gonneville, Chalice has defined >40 Cu-Au-Ag and Ni-Cu-PGE targets in the West Yilgarn Province • ~1,200km long western margin of the Yilgarn For personal use only craton largely covered by Chalice’s ~10,000km2 exploration licence holding Narryer Project • Exciting new search space for intrus
Slide 35: Exploration focus shifted to gold-copper targeting
Exploration focus shifted to gold-copper targeting in early 2024, with exciting new targets defined • Exciting new large-scale gold targets at the 4,600km2 For personal use only arrabarra Project e lector Barrabarra Project nterpreted geology and soil Christmas Gi t Au Cu geochemistry over regional
Slide 36: Recherche West and Warspite targets untested by drilling
The large-scale Recherche West and Warspite targets are completely untested by drilling and in favourable geological settings For personal use only Initial ~7,000m AC drill program testing both large-scale targets has commenced ASX: CHN 31
Slide 37: Summary and outlook for FY25
For personal use only Summary and outlook for FY25 ASX: CHN
Slide 38: Chalice is fully funded to progress development and exploration
Chalice is fully funded to progress key development and exploration activities, with ~A$98M in cash and listed investments Progress to date Status Forward Plan1 Status For personal use only Gonneville discovery Gonneville metallurgical testwork and Ongoing Mar-20 flowsheet development / optimisation
Slide 39: Summary
Summary For personal use only Chalice owns the leading palladium-nickel-copper development project in the Key value drivers and upcoming catalysts western world 1. PGE price recovery driven by slowing BEV uptake and strong ICE/hybrid sales 2. PFS testwork – optimisation of metallurgical Chalice’s te
Slide 40: Item 1 - Annual Report
For personal use only ANNUAL GENERAL MEETING Item 1- Annual Report Visit our website and sign up to receive our latest news chalice-mining @ChaliceMining www.chalicemining.com Level 3, 46 Colin Street West Perth WA 6005, Australia +61 8 9322 3960 info@chalicemining.com ABN 47 1 16 648 956 ASX: CHN
Slide 41: Agenda Items – Annual Report
Agenda Items – Item 1 Annual Report For personal use only To consider the Annual Report of the Company and its controlled entities for the financial year ended 30 June 2024, which includes the Financial Report, the Directors' Report and the Auditor's Report. Note: there is no requirement for Shareho
Slide 42: Item 2 - Resolutions
For personal use only ANNUAL GENERAL MEETING Item 2 - Resolutions Visit our website and sign up to receive our latest news chalice-mining @ChaliceMining www.chalicemining.com Level 3, 46 Colin Street West Perth WA 6005, Australia +61 8 9322 3960 info@chalicemining.com ABN 47 1 16 648 956 ASX: CHN
Slide 43: Resolution – Remuneration Report
Resolution 1 – Remuneration Report To consider and, if thought fit, to pass with or without amendment, as a non-binding For personal use only ordinary resolution the following: 'That, the Remuneration Report be adopted by Shareholders, on the terms and conditions in the Explanatory Memorandum.' Prox
Slide 44: Resolution – Re-election of Director – Derek La Ferla
Resolution 2 – Re-election of Director – Derek La Ferla To consider and, if thought fit, to pass with or without amendment, as an For personal use only ordinary resolution the following: 'That, Derek La Ferla, who retires in accordance with article 7.2(a) of the Constitution and Listing Rule 14.4 an
Slide 45: Resolution – Election of Director – Richard Hacker
Resolution 3 – Election of Director – Richard Hacker To consider and, if thought fit, to pass with or without amendment, as an For personal use only ordinary resolution the following: That, Richard Hacker, being eligible and offering himself for election, is elected as a Director pursuant to article
Slide 46: Resolution – Approval of Issue of Performance Rights to Alex Dorsch
Resolution 4 – Approval of Issue of Performance Rights to Alex Dorsch To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution For personal use only the following: 'That, pursuant to and in accordance with Listing Rule 10.14 and for all other purposes, Shareholde
Slide 47: Thank you
For personal use only Thank you Conclusion of meeting chalice-mining @ChaliceMining www.chalicemining.com ASX: CHN
Slide 48: Appendix
For personal use only Appendix ASX: CHN
Slide 49: Our approach to sustainability
Our approach to sustainability: Deliver sustained shared value through responsible sustainability practices For personal use only Our Sustainability Vision and Pillars Strong Environmental Manage Climate Create Value for Healthy and Safe Stewardship Change Risk Stakeholders Workforce The Gonneville
Slide 50: Higher-grade sulphide component of Gonneville Resource
Higher-grade sulphide component of Gonneville Resource (in pit and underground), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal For personal use only (Mt) Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%) Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt) Measured 0.
Slide 51: Gonneville Mineral Resource Estimate (JORC Code 2012), April 2024
Gonneville Mineral Resource Estimate (JORC Code 2012), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal For personal use only (Mt) Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%) Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt) Measured - - - - - - - - - - - - - In