Panoro Minerals Ltd. · TSXV:PML
Panoro Minerals — Investor Presentation (October 2021)
26 slides from Panoro Minerals's investor presentation, October 2021
Slide 1: Peru Focused Copper Explorer – Corporate Presentation October 2021
TSX-V: PML BVL: PML I BORSE: PZM OTC: POROF PERU FOCUSED COPPER EXPLORER Corporate Presentation October 2021
Slide 2: Forward Looking Statements
Forward Looking Statements CAUTION REGARDING FORWARD LOOKING STATEMENTS: Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of applicable Canadian securities legislation and involve risks and uncertainties. Exa
Slide 3: Antilla Transaction
Advance Payment • Scheduled Payments o $10 million, on closing Antilla Transaction o $2.8 million, 10 mo’s from closing (75%) o $7 million, 12 mo’s after drilling permit (90%) Plus • Contingent Payments o $10 million, if NPV > $US 310 million; or o $50 million, if NPV > $US 360 million1 Net Smelter
Slide 4: Antilla Transaction – Breakdown of Payments
Antilla Transaction – Breakdown of Payments (CAD, unless indicated otherwise) Antilla Project NPV2 Total Advance Total NSR Total Payments (million USD) Payments Payments1 (million $) (million $) (million $) up to 310 20 up to 94 up to 114 310 to 360 30 up to 98 up to 128 Conservative above 360 up to
Slide 5: Rerating Panoro Minerals Value – Antilla Transaction
Rerating Panoro Minerals Value – Antilla Transaction (CAD unless indicated otherwise) Antilla Advance NSR NAV Antilla & Cotabambas 3,4 1. Includes scheduled and milestone payments 2. Typical range of industry benchmarks, 3% NSR Project Payments1 Multiple of ($/share) 3. 280 million fully diluted sha
Slide 6: Multiple Copper – Gold – Silver Projects Driving Valuation Potential
Multiple Copper – Gold – Silver Projects Driving Valuation Potential Cotabambas Petra-David Oxide Cu Resource 1 PEA Complete Maria Jose oxide/Sulphide Cu Expansion Copper-Gold-Silver Chaupec Sulphide Cu/Skarn 2 Antilla PEA Complete Sold to HCAC Up to $CA 74M Cash Copper & 2-3% Royalty 3 Kusiorcco Ca
Slide 7: Forecasted Five Year Funding No Share Equity Dilution
Forecasted Five Year Funding No Share Equity Dilution Total HCAC Funding Cotabambas Kusiorcco Humamantata Cochasayhuas Antilla Currency Copper-Gold-Silver Copper Copper Gold-Silver Copper Stream NSR NSR NSR Milestone Expenditures Scheduled Scheduled Contingent US$ CA$2 Advance Royalty Royalty1 Royal
Slide 8: Capital Structure & Share Performance
Capital Structure & Share Performance TSX-V:PML Tickers BVL:PML 12 MONTH CHART BORSE:PZM OTC:POROF Share Price $0.18 52 Week Low-High $0.09 - $0.23 Shares Issued 263.4M Options 20.1M Fully Diluted 284.4M Market Capitalization Undiluted $47.4M Source: stockwatch.com Fully diluted $51.2M TSXV-PML Page
Slide 9: Peruvian Presidential Elections & Mine Risk Management Politics Update
Peruvian Recent Presidential Elections & Mine Risk Management Politics Update Peru’s mining industry is hopeful of avoiding drastic measures that Pedro Castillo: “We are would stifle investment and Peru’s President not Chavistas”, we are future production. According to Pedro Castillo sworn-in reshuf
Slide 10: Peru’s Southern Copper Cluster
Peru’s Southern Copper Cluster - Chile (#1) and Peru (#2) account for approximately 40% of global copper production - Peru doubled copper production from 2012- 2016 - More than $US20 billion invested into new or expanded copper mines in southern Peru. - Cotabambas Project to be next large-scale proj
Slide 11: Cotabambas Project Resource
Cotabambas Project Resource Drill Company Year Metres Holes Antofagasta 1995 to 200 24 8,538 CDLM 2002 to 2007 10 3,252 Panoro 2007 to 2012 29 17,785 Panoro 2012 to 2013 81 40,467 Panoro 2013 to 2014 11 4,946 Panoro 2017 to 2018 36 8,805 Panoro 2019 5 997 Total 196 84,790 Cutoff Resource Million Cu
Slide 12: Cotabambas PEA Estimates
Cotabambas PEA Estimates COTABAMBAS2 KEY PROJECT PARAMETERS CU/AU/AG (IN USD CURRENCY) PROJECT (GROWTH TARGETS) Mill Feed, life of mine million tonnes 483.1 Mill Feed, daily tonnes 80,000 Strip Ratio, life of mine waste: process feed 1.25 : 1 NPV7.5% million USD 683 After Tax IRR % 16.7 @ PEA Prices
Slide 13: Cotabambas Project Targeting Growth
Cotabambas Project Targeting Growth S E P T E M B E R 2 0 1 5 P E A CASH COSTS, NETS OF BY BEFORE TAX PRODUCTS CREDITS $1,052M NPV C1 $1.22/lb Cu 20.4 % IRR C2 $1.94/lb Cu 3.2 Year Payback AFTER TAX ANNUAL PAYABLE METALS $683M NPV 155 M lbs Cu 16.7 % IRR 95 k oz Au 3.6 Year Payback 1,018 k oz Ag LIF
Slide 14: Cotabambas Project – Growth Levers
Cotabambas Project – Growth Levers 1 2 3 Resource Growth Metallurgy Commodity Price Maria Jose Target Flotation - Transition & Oxide Zones 20 drill holes – 6,097 meters Cu + 47% Petra- David Target 9 drill holes – 1,236 meters Chaupec Target Au 5 drill holes – 993 meters + 42% Leaching - Oxide Zones
Slide 15: Cotabambas Cluster 1 and Cluster 2 Project Scale Expansion Potential
Cotabambas Project Cluster 1 and Cluster 2 Project Scale Expansion Potential CLUSTER 2 SECTION High Chargeability, ?Porphyry Stock? High Magnetics, ?Skarn? TSXV-PML Page 15
Slide 16: Cotabambas Project Potential Heap Leach SX/EW
Cotabambas Project Potential Table: Mineral Resources, Tetra Tech, October 2013 Heap Leach SX/EW 99.6 Mt @ 0.42 % Cu, 0.21 g/t Au, 2.43 g/t Ag Assuming same cutoff as for flotation Mineral Resources have an effective date of June 20, 2013 and were estimated by Qualified Person Robert Morrison, P.Geo
Slide 17: Cotabambas Project Leverage to Precious Metals
Cotabambas Project Leverage to Precious Metals Average 0.68 % Cueq Average 0.59 USD/lb Cu Average 123,500 t Average 130,900 oz TSXV-PML Page 17
Slide 18: Cotabambas Project Economics Enhanced May 18, 2021 Spot Prices
Cotabambas Project Economics Enhanced May 18, 2021 Spot Prices Cotabambas Projects Economics Enhanced at May 18, 2021 Spot Prices May 18, 2021 PEA Metal Price Improvement After Tax Metrics Spot Metal Price Assumptions From PEA Net Present Value million USD $2,638 $683 386% IRR % 36.6% 16.7% 219% Pay
Slide 19: Cotabambas Project Valuation Potential
Cotabambas Project Valuation Potential (USD unless indicated otherwise) PEA ADD: IMPROVE: ADD: INCREASE: Oxide Leach Mixed Zone High Grade Commodity SX/EW - 20 Mt Metallurgy Sulphides - 90 Mt Prices3 Net Present Value2 (million USD) $684 $1,224 $1,395 $1,970 $2,504 3.7 X IRR2 (%) 16.7% 23.5% 25.9% 2
Slide 20: Cotabambas Project M&A Targets
Cotabambas Project M&A Targets Deutsche Bank Copper Outlook Top Projects to Look out for Spot Prices Well above the 2020 C1 plus Sustaining Luquman Shaheen; President & CEO, and Luis Vela, Vice President of Exploration for Panoro and a "qualified person" under National Instrument 43-101, have review
Slide 21: Cotabambas Project Focus for PML
Cotabambas Project Focus for PML PML NAV - Current Cotabambas NAV Growth Potential PML Net Asset Value Cotabambas Project Net Asset Value $2.00 Benchmarked to Antilla Transaction $1.50 to $1.84 $7.00 Growth Potential Target $5.81 $1.80 per share $6.00 per share $1.60 NAV Leveraged to: DFS $0.97 to $
Slide 22: Valuation vs. Peer Group
Cotabambas Project Valuation vs. Peer Group Significant Valuation Rerating Potential from: 24.8 5 times 21.8 1. Antilla Transaction Benchmark 2. Cotabambas Project Growth Funding Uplift 20.1 13 times 11.2 12.5 Uplift 7.0 3.8 4.0 4.4 3.6 3.6 2.1 2.7 2.7 1.2 1.4 1.9 0.3 0.3 0.3 0.9 1.0 NCU-T Current P
Slide 23: Comparison to Tatogga Project (GT Gold, B.C.)
Cotabambas Project (Panoro Minerals, Peru) Comparison to Tatogga Project (GT Gold, B.C.) Cotabambas Tatogga Project Project2 Resource (Mt) Indicated 117.1 298.0 Inferred 605.3 542.8 Grade (% Cueq)1 Indicated 0.60 0.47 Inferred 0.45 0.42 Contained (Blbs Cueq)1 Indicated 1.6 3.1 Inferred 6.0 5.0 Open
Slide 24: Management & Directors – Peru Experience
Management & Directors – Peru Experience MANAGEMENT DIRECTORS LUQUMAN SHAHEEN, PENG, PE, MBA – PRESIDENT & CHIEF EXECUTIVE AUGUSTO BAERTL – CHAIRMAN OFFICER & DIRECTOR Over 50 years of experience in the Peruvian and International Mining Over 27 years experience in mining sector, 20 years Sector expe
Slide 25: Panoro Minerals Focused on Cotabambas Project
Panoro Minerals Focused on Cotabambas Project Strategic Partners Up to $91 Million Funding • Resource Growth • Feasibility Study Well Funded Royalty package includes: • up to 3% NSR on Antilla Project • 2% NSR on Kusiorcco Project • 5% NSR on Cochasayhuas Project
Slide 26: Contact
FORO MINERALS LTD < — —TSXV:PML "BORSE:PZM OTCQB:POROF BVL:PML _~ For further information, contact: Luquman Shaheen, President and CEO Phone: 604.684.4246 Email: info@panoro.com WWwW.panoro.com
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