Maritana Minerals Limited · ASX:MRT
Maritana Minerals — Investor Presentation (February 2025)
30 slides from Maritana Minerals's investor presentation, Feb 10, 2025
Slide 1: Australia's Newest Gold Producer
Australia’s Newest Gold Producer Investor Presentation | February 2025
Slide 2: Important disclaimers
Important disclaimers Nature of Document They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, This Presentation is provided on
Slide 3: Australia's Newest Gold Producer
Australia’s Newest Gold Producer First gold poured at Boorara Pursuing a low-risk, low-capital with gold production set to approach to gold production commence next at Phillips Find through toll milling and ore sales Current agreements allow for Transformational acquisition of consistent gold produc
Slide 4: Board and Leadership team
Board and Leadership team Ashok Parekh – Non-Executive Chairman Grant Haywood – Managing Director • Chartered accountant with over 40 years’ experience who owns a large • Mining Engineer with over 30 years’ experience in underground and open Accounting Practice in Kalgoorlie, which he has operated f
Slide 5: Our strategy
Our strategy Delivering shareholder value in the strong gold price environment Generate cashflow from Apply cashflow towards the Targeted exploration mining projects through a development of our major program to build resources, low capital development cornerstone assets to replenish the project pip
Slide 6: An active 12 Months
An active 12 Months Horizon positioned for strong cashflows and future growth Key Strategic Achievements June 2024 May 2024 May 2024 Merger completed with 200kt Toll Milling 1.24 Mt Ore Purchase Greenstone Resources Agreement executed with Agreement executed with Norton Limited FMR Investments to tr
Slide 7: Proposed transformational acquisition
Proposed transformational acquisition Horizon to acquire 100% of Poseidon via all-scrip transaction for ~A$30M Merger consolidates 1.8Moz Au and highly strategic processing infrastructure for Horizon to transition to the next standalone WA gold producer “Horizon Minerals 2.0” Seeking downstream proc
Slide 8: Horizon Minerals 2.0 – at a glance
Horizon Minerals 2.0 – at a glance Capital structure Units Existing Pro-forma(2) Share price(3) $/sh $0.048 $0.048 No. of ordinary shares M 1,570.7(4) 2,127.0(2) Market capitalization $M 75.4 102.1 Cash and cash equivalents $M 9.6(1) 9.6(1) Debt $M 8.4(1) 8.4(1) Net cash / (debt) $M 1.2 1.2 Enterpri
Slide 9: Horizon Minerals 2.0 – strategy
Horizon Minerals 2.0 – strategy 1.8Moz of Resources; 2.2Mtpa processing facility; 1,309km2 of exploration tenure • Transformational acquisition of Poseidon’s 2.2Mtpa Black Swan processing facility (currently on care & maintenance) • Estimated replacement value of +$150M • Potential for low-capex ref
Slide 10: A pathway to growth
A pathway to growth The Proposed Transaction reflects a sensible strategy to grow Dual track growth strategy to support Horizon’s aim to become a ~100kozpa producer 4 3 Build out the 2 Plant refurbishment mining pipeline 1 Drilling and plant and operations •Continue to drill and Acquire Poseidon as
Slide 11: Portfolio overview
Portfolio overview Complementary assets with wide Resource growth potential
Slide 12: First Gold Pour at Boorara
First Gold Pour at Boorara Commencement of continuous gold production over the next 14 months • First gold pour from the Boorara Gold Project achieved on 14 Summary of Boorara Study Key Outcomes January 2025 Ore Reserve study Contract pricing Measure @ A$3,300/oz @ A$3,600/oz • First stockpile of 54
Slide 13: Phillips Find
Phillips Find First gold expected in Q1 2025 • Development and mining of two open pits at Philips Find commenced, under Joint Venture (JV) Agreement with mining specialists BML Ventures Pty Limited (BML) • Equipment mobilisation, site establishment and mining approvals completed in December 2024 • G
Slide 14: Penny's Find PFS
Penny’s Find PFS Robust cashflows from a development-ready gold asset • PFS completed for Penny’s Find, utilising underground mining methods outlines a financially viable project: • Underground mine design and schedule producing 329.9kt at a fully diluted grade of 3.2g/t Au for 33.5koz over an appro
Slide 15: Poseidon's Black Swan processing facility
Poseidon’s Black Swan processing facility 2.2Mtpa processing facility strategically located ~40km north of Kalgoorlie • 2.2Mtpa processing facility (C&M) and associated infrastructure with optionality for an initial 1.0 – 1.5Mtpa throughput • Black Swan concentrator readily amenable to processing go
Slide 16: Poseidon's Black Swan process facility
Poseidon’s Black Swan process facility Existing flotation circuit and planned changes to facilitate gold production Gold conversion Carbon Elution Gold room Au in leach Ag/Zn + Ni Crush Grind Flotation Concentrates Refurbishment Future refurbishment option 16
Slide 17: Strong pipeline to support Black Swan
Strong pipeline to support Black Swan Horizon’s 30Mt of existing gold Resources with ~50,000m of drilling budgeted in FY25/261 Black Swan Ni Nimbus Zn/Ag Coote Cannon Greater Boorara Crake Burbanks Phillips Find Wilson’s Teal Penny’s Find Boorara Rose Hill Kalpini ~300koz ~700koz ~480koz Resource de
Slide 18: Reinvigorated exploration strategy
Reinvigorated exploration strategy Clear focus on improving Resource confidence and growing mineable ounces • Resources of 1.8Moz on prolific geological structures around Kalgoorlie / Coolgardie Penny’s Find • Stronger balance sheet will enable faster Resource Black Swan growth and increased Resourc
Slide 19: Burbanks project
Burbanks project Significant Resource upside to be unlocked from a key cornerstone asset with scale and grade • Located on a granted mining lease 9km south of Coolgardie • Supported by a network of existing infrastructure including grid power and sealed roads • Historic production estimated at +420k
Slide 20: Poseidon's Black Swan – gold prospectivity
Poseidon’s Black Swan – gold prospectivity Untested gold anomalies emerging adjacent to the process plant infrastructure • Limited previous gold focused exploration in the area – only 5% of drill assays have tested for gold • Drill intersections grading up to 6.41g/t Au • Wide spaced soil sampling p
Slide 21: Platform for regional consolidation
Platform for regional consolidation >1Moz of gold resources in region are without a clear processing solution • Opportunities for non-producers to access third party gold processing infrastructure in the WA Goldfields is becoming increasingly difficult • Conversion of a 2.2Mtpa processing facility t
Slide 22: Operational timeline
Operational timeline Indicative timeline of upcoming cash flow and pathway to gold from Black Swan Target key workstreams 2025 2026 (Forward 18 months) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Boorara First Gold Production Achieved Phillips Find Toll Treatment – First Gold Production Potential toll treatment/ore sal
Slide 23: Appendices
Appendices
Slide 24: Horizon Mineral Resource Estimate
Horizon Mineral Resource Estimate Gold deposits Cutoff Measured Indicated Inferred Total Project Au g/t Mt Au g/t Oz Mt Au g/t Oz Mt Au g/t Oz Mt Au g/t Oz Boorara OP 0.5 1.12 1.22 44,000 6.85 1.28 281,000 2.56 1.26 103,000 10.53 1.27 428,000 Burbanks OP 0.5 - - - 1.43 2.00 92,780 3.43 1.90 204,870
Slide 25: Horizon Ore Reserve Estimate
Horizon Ore Reserve Estimate Cannon Ore Reserve Category Tonnes Au (g/t) Ounces Proven Reserve – – – Probable Reserve 135,000 4.1 17,680 Total Reserve 135,000 4.1 17,680 Boorara Ore Reserve Tonnes Location Reserve Category Au (g/t) Gold Metal (kOz) (Mt) Proved 636.8 1.25 25.7 Boorara Open Pit Probab
Slide 26: Horizon Mineral Resource Estimate
Horizon Mineral Resource Estimate Nimbus silver-zinc project Nimbus All Lodes (bottom cuts 12 g/t Ag, 0.5% Zn, 0.3g/t Au) Category Mt Ag (g/t) Au (g/t) Zn (%) Ag (Moz) Au (kt) Zn (kt) Measured Resource 3.62 102 0.09 1.2 11.9 10 45 Indicated Resource 3.18 48 0.21 1.0 4.9 21 30 Inferred Resource 5.28
Slide 27: Horizon Mineral Resource Estimate
Horizon Mineral Resource Estimate Mt Thirsty nickel-cobalt project (50% Horizon) Mt Thirsty (Cut-off Grade 0.25% NiEq%) Tonnes Grade Contained Metal Category Mt Ni (%) Co (%) Mn (%) Ni (‘000t) Co (‘000t) Mn (‘000t) Mt Thirsty Main (MTTM) Measured Resource - - - - - - - Indicated Resource 30.2 0.51 0
Slide 28: Mineral Resource & Ore Reserve disclosure
Mineral Resource & Ore Reserve disclosure Confirmations Horizon’s Gold Mineral Resources The information in this announcement that relates to Horizon’s exploration results and Mineral Resources estimates is extracted from and was originally reported in Horizon’s ASX announcements “Intermin’s Mineral
Slide 29: Mineral Resource & Ore Reserve disclosure
Mineral Resource & Ore Reserve disclosure Confirmations Poseidon Nickel’s Mineral Resources The information in this presentation that relates to Geology and Mineral Resources is based on information compiled and/or reviewed by Mr John Hicks, who is a Member of the Australasian Institute of Mining an
Slide 30: Contact
Contact Grant Haywood Managing Director and CEO +61 (08) 9386 9534 admin@horizonminerals.com.au www.horizonminerals.com.au PO Box 1064 West Perth WA 6872
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