Vault Minerals Limited · ASX:VAU
Vault Minerals — Red 5 — BMO 31st Global Metals & Mining Conference (February 2022)
30 slides from Vault Minerals's conference presentation, Feb 28, 2022
Slide 1: BMO 31st Global Metals & Mining Conference Investor Presentation
For personal use only BMO 31st Global Metals & Mining Conference Investor Presentation Mark Williams, Patrick Duffy 27 February 2022 – 2 March 2022 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence
Slide 2: Competent Person's Statement and Disclaimer
Competent Person’s Statement and Disclaimer Competent Person Statements for JORC 2012 Mineral Resource and Ore Reserves For personal use only ● The information in this presentation that relates to the Mineral Resources for the King of the Hills deposit is extracted from the ASX announcement titled “
Slide 3: Red 5 – poised to deliver Australia's next major gold mine
Red 5 – poised to deliver Australia’s next major gold mine ✓ Red 5 has two gold mines in one of the world’s safest and most prospective gold districts For personal use only ✓ King of the Hills (KOTH) is a major Australian gold deposit – Top 10-largest Ore Reserves in Australia1 ● Mineral Resource of
Slide 4: Red 5 Limited – Corporate profile
Red 5 Limited – Corporate profile Our Company Vision For personal use only “To be a successful multi-operational exploration and mining company, providing benefits to all stakeholders, through the consistent application of technical excellence, and responsible and sustainable industry practices.” Sh
Slide 5: ESG – Proactive COVID preparation/management
ESG – Proactive COVID preparation/management For personal use only Zenith currently constructing 2MW solar energy and battery farm at KOTH (similar Zenith power installation shown in picture) 1. Total Recordable Injury Frequency Rate (12 month ave.), total recordable injuries per million hours worke
Slide 6: Village fully operational
KOTH village fully operational For personal use only www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 6
Slide 7: Gyratory crusher installed – commissioning underway
Gyratory crusher installed – commissioning underway For personal use only www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 7
Slide 8: Power station - commissioning underway
Power station - commissioning underway For personal use only www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 8
Slide 9: All major SAG mill components have been installed
All major SAG mill components have been installed For personal use only www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 9
Slide 10: Construction is on schedule and within budget
KOTH – construction is on schedule and within budget A$M1 For personal use only Processing and infrastructure 188 Owners costs 12 Sub-total 200 Contingency 19 Sub-total 219 Mining pre-strip 7 Total capital cost 226 ● The majority of remaining project expenditure is through fixed-price contracts ● $1
Slide 11: First gold on-track for June 2022 quarter
KOTH – first gold on-track for June 2022 quarter For personal use only 2021 2022 MQ JQ SQ DQ MQ JQ SQ DQ Debt financing Construction and mine permits Bulk earthworks and Village Mill and Crusher delivery to site EPC full mobilisation Site construction and installation Commissioning Mine Contractor m
Slide 12: Mining has commenced
KOTH - mining has commenced ● Site mobilisation ongoing For personal use only ● Macmahon now on site, constructing infrastructure ● Equipment being mobilised on site from January onwards ● Macmahon recruitment remains on plan ● Mine planning ● First 13-week schedule ready ● Grade control drilling on
Slide 13: Geology is well understood, open in all directions
KOTH - geology is well understood, open in all directions Jun-21 Mineral Resource1 Aug-20 Ore Reserve2 For personal use only 91Mt @ 1.4 g/t for 64.6Mt @ 1.2 g/t for 4.12Moz Au 2.4Moz Au ● Ore body in the contact zone of a substantial Granodiorite intrusion ● 4km long x 2km wide ● Historical understa
Slide 14: Strategic, low-cost mill in Eastern Goldfields
KOTH - strategic, low-cost mill in Eastern Goldfields ● High level of confidence in metallurgy: For personal use only ● Historical processing data (1989-2004) ● Previous processing of KOTH ore at Darlot ● Low A$11.83/t LOM processing cost1 due to: ● Economies of scale: Mintrex Study has confirmed ca
Slide 15: Darlot transition to be a KOTH satellite mine
Darlot transition to be a KOTH satellite mine – June Qtr 2022 ● Darlot Dec-Qtr 2021 production in line with For personal use only guidance1 ● Operator shortages in the WA labour market continue to impact mining activities ● On track to meet FY22 Darlot Production guidance2 ● 62,000oz – 72,000oz ● AI
Slide 16: A standout value opportunity in the Australian gold sector
A standout value opportunity in the Australian gold sector ● Red 5 EV/Reserve relative For personal use only to its peers 1,200 Capricorn ● Valuation of WA based-gold Silver companies1 Lake EV / Reserve (A$/oz) ● Bubble Size = Enterprise 900 Ramelius Value Calidus Bellevue ● The planned development
Slide 17: Thank you
For personal use only THANK YOU Level 2, 35 Ventnor Avenue, West Perth, Western Australia 6005 Australia (61-8) 9322 4455 (61-8) 9481 5950 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 17
Slide 18: Appendix
For personal use only Appendix www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 18
Slide 19: US$55 million divestment of Siana Gold Project
US$55 million divestment of Siana Gold Project ● The Siana Gold Project, owned by Philippine- For personal use only affiliated company Greenstone Resources, suspended mine operations in April 2017 ● Red 5 announced the completed sale of Siana on 21 September 2021 ● US$19M cash received ● 3.25% NSR r
Slide 20: KOTH now fully financed through to operations
KOTH now fully financed through to operations A$175M Syndicated Facility Agreement comprising: For personal use only Facility Amount ● A$160M Senior Secured Project Loan Facility; and and Syndicate ● ● A$15M Cost Overrun and Working Capital Facility. Banks ● Syndicate Banks – Macquarie (50%), BNP Pa
Slide 21: Leadership team with strong development expertise
Leadership team with strong development expertise Red 5 has a strong and capable team, with many years of mining and development experience both at Red 5 and previously at multi- billion international development projects – the Company is well placed to deliver the KOTH development For personal use
Slide 22: KOTH – 4.1Moz Mineral Resource
KOTH – 4.1Moz Mineral Resource1 For personal use only Total Open Pit & Underground KOTH Resource as at Jun 2021 Cut-off Mining Gold Contained Gold Classification Tonnes (000t) (g/t) Method (g/t) (000oz) Indicated 0.4-1.0 OP+UG 69,600 1.4 3,030 Inferred 0.4-1.0 OP+UG 21,100 1.6 1,090 Total 0.4-1.0 OP
Slide 23: KOTH – 2.4Moz Ore Reserve
KOTH – 2.4Moz Ore Reserve1 Total KOTH Ore Reserves as at September 2020 For personal use only Cut-off JORC 2012 Tonnes Gold Contained Gold Deposit Mining Method (g/t) Classification (Mt) (g/t) (Moz) KOTH Open pit 0.39 Probable 58.5 1.1 2.1 KOTH Underground 1.60 Probable 2.4 2.3 0.2 Rainbow Open pit
Slide 24: KOTH – mineralisation open in all directions
KOTH – mineralisation open in all directions For personal use only Proof of concept drilling confirmed gold mineralisation 500m down plunge from current UG designs 1 Mineralised stockwork penetrates at least 70m into the granodiorite from the granodiorite-ultramafic contact 1. Red 5 ASX Release: 18
Slide 25: KOTH Satellite Deposits – Mineral Resource of 308koz
KOTH – Satellite Deposits1 – Mineral Resource of 308koz For personal use only 1. Red 5 ASX Release: 6 May 2020 2. Red 5 ASX Release: 1 May 2019 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 25
Slide 26: KOTH – scope to increase production and extend LOM
KOTH – scope to increase production and extend LOM ● Mintrex have confirmed SAG Mill will produce >4.7Mtpa as built For personal use only ● Red 5 believes the mill has potential to process much more ● 6Mtpa crushing circuit installed ● Oversized SAG Mill being installed ● Design allowance for upgrad
Slide 27: KOTH exploration – numerous targets
KOTH exploration – numerous targets ● Integrated datasets have identified priority targets along For personal use only the Tarmoola and Ursus Fault corridors ● Tarmoola Fault Corridor ● Poorly tested outside of the mine area ● Bulk of historical AC/RAB drilling ineffective (failed to reach top of fr
Slide 28: Darlot exploration & future ore sources
Darlot exploration & future ore sources Darlot Gold Mine 1 Cables & Mission 4 For personal use only ● Resource 13.1Mt @ 3.4g/t Au for 1.4Moz ● Combined JORC 2004 Resource of 1.5Mt ● Reserve 2.5Mt @ 2.6g/t Au for 203koz @ 3.1g/t Au for 185koz2 ● Historical drilling suggests both deposits ● 71,000m UG
Slide 29: Top Gold Deposits in Australia
Top 20 Gold Deposits in Australia Resources Reserves For personal use only Mt g/t Moz Mt g/t Moz Cadia 3382.0 0.4 39.9 Cadia 1300.0 0.4 19.0 Golden Mile (100%) 526.7 1.6 26.3 Boddington 558.3 0.7 11.6 Lake Cowal 305.3 1.0 9.7 Golden Mile - KCGM 270.8 1.3 11.6 Granny Smith 49.4 5.2 8.3 Tanami 34.8 5.
Slide 30: Australian Top Gold Deposits
Australian Top 20 Gold Deposits1 Resources Reserves Resources Reserves Resources Reserves Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Cadia Newcrest St Ives Goldfields Sunrise Dam AngloGold For personal use only Measured 32.0 0.30 0.3 Proven Measured 5.1 2.49 0.4 Proven 4.7 2.1
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