Lion Selection Group Ltd. · ASX:LSX

Lion Selection — Investor Presentation (April 2020)

19 slides from Lion Selection's investor presentation, Apr 8, 2020

  1. Slide 1: Lion Selection Group: 2x Multi-Million Ounce Gold Projects

    For personal use only LION SELECTION GROUP 2x Multi-Million Ounce Gold Projects April 2020

  2. Slide 2: Disclaimer

    Disclaimer • This presentation does not constitute investment advice. Neither this presentation nor the information contained in it For personal use only constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentat

  3. Slide 3: Lion Selection Group (ASX: LSX) and Lion Mining Equity Markets

    For personal use only Lion Selection Group (ASX : LSX) Lion Mining Equity Markets ▪ Listed investment company ▪ Perfect storm of uncertainty, fiscal stimulus and negative real interest ▪ $15M cash rates: Strong fundamentals for gold ▪ Portfolio leveraged to project delivery ▪ Equity capital markets

  4. Slide 4: Lion History

    Lion History ▪ Lion listed on ASX in 1997: 22 years investment track record For personal use only ▪ Major successes: Indophil, Platmin, Gallery Gold, MPI, East African Gold Mines, Consolidated Minerals, Catalpa ▪ Returns over 22 years / 4 mining cycles: ▪ Dividends and Cash Return: 96.7cps (2002 – 2

  5. Slide 5: 2x multi-million ounce gold projects

    2x multi-million ounce gold projects Pani: Lion 20% JV Interest For personal use only ▪ Unification: 2.30Moz + 2.37Moz Gold Resources now combined ▪ Drilling underway ▪ Development planning Nusantara: Lion 23% Equity ▪ US$80m project funding arranged via partner ▪ Bank debt now sought US$110- 120m ▪

  6. Slide 6: Pani

    For personal use only Pani History: 2012 2014 2017 2018 Pani drilling by One Asia: Pani Resource Resolution of Pani dispute Merdeka acquires 66% long gold intersections 2.37Moz with J Resources interest in Pani JV 1960s to 90’s 2013 2015 2018 2019 Pani region initially Pani ownership Pani JV with Pr

  7. Slide 7: Pani Map

    Pani Map For personal use only Pani IUP (1km x 1km) 66% Merdeka / 33% Lion + Contract of Work (surrounds IUP) 100% J Resources = Unified Pani 40% Merdeka / 40% J Res / 20% Lion ASX : LSX | 7

  8. Slide 8: Pani Looking North

    Pani Looking North For personal use only Notes: • Pani Resource 89.5MT at 0.82g/t Au for 2.37Moz Au1 ASX : LSX | 8 • Resource estimate by J Resources on CoW 72.7MT at 0.98g/t Au for 2.30Moz Au2

  9. Slide 9: Pani Plan View

    Pani Plan View For personal use only ASX : LSX | 9

  10. Slide 10: Pani Milestones

    For personal use only Pani Milestones Milestones: Partnership with Provident 2015 License Secured 2017 Merdeka Purchase of 66% 2018 Pani Unification 2019 Next Steps: 10,000m Drilling Updated Resource Project Development studies ASX : LSX | 10

  11. Slide 11: Nusantara

    Nusantara DFS October 2018 3: ▪ Extensive drilling 1990’s For personal use only ▪ Assumed US$1250/oz gold price ▪ IPO 2017 ▪ Test gold sensitivity: +/-10% (Actual gold variance: + 25%) ▪ DFS 2018 ▪ Partner: Indika 2018 ▪ Indika project funding 2019 ▪ 2020: ▪ Finalise debt ▪ Project development ASX :

  12. Slide 12: Nusantara – leverage to gold price

    For personal use only Nusantara – leverage to gold price ▪ Awak Mas: 1.1Moz Ore Reserve 4 / 2.0Moz Mineral Resource 5 ASX : LSX | 12

  13. Slide 13: Lion Net Tangible Assets

    Lion Net Tangible Assets % held A$ million ¢ps For personal use only Feb 2020 Pani JV 33.3 39.7 26.4 Gold 2019 Highlights • Fair value for Pani based on Merdeka’s acquisition of 66.7% interest in the Pani JV from Lion’s former JV partner in November 2018 ▪ Roxgold – sold • Conditional agreement reac

  14. Slide 14: Selected other investments

    For personal use only Selected other investments Erdene Gold / Mongolia ▪ 3.7g/t open cut Kin-Gin Kasbah Celamin Tin / Morocco ▪ Large, development ready Phosphate / Tunisia ▪ Ownership dispute close to resolved ASX : LSX | 14

  15. Slide 15: 2020 Outlook

    For personal use only 2020 Outlook Lion Mining Equity Market ▪ Pani drilling: 10,000m program in progress ▪ Mining market recovery was immature when infilling between 2.3Moz and 2.4Moz global equity market collapse occurred positions ▪ Uncertainty, stimulus and outlook for low to ▪ Pani unification

  16. Slide 16: Beyond 2020: Lion – Long Term Strategy

    For personal use only Beyond 2020 Lion – Long Term Strategy ▪ Target value uplift as project is de-risked ▪ Portfolio approach: 15-20 investments at pre-development stage ▪ Long term active manager ▪ Ambition to provide a steady dividend stream ▪ Invest / divest according to time in market cycle (Li

  17. Slide 17: Lion Mining Clock

    For personal use only Lion Mining Clock ▪ January 2020: 9 o’clock ▪ March 2020: 12 o’clock ASX : LSX | 17

  18. Slide 18: Lion Team

    For personal use only Lion Team Lion Manager Barry Sullivan Robin Widdup Non-Executive Chairman Hedley Widdup Non-Executive Director Mining Engineer Geologist Geologist Peter Maloney Craig Smyth Tim Markwell Non-Executive Director Chief Executive Officer Geologist Commercial Commercial Chris Melloy

  19. Slide 19: Notes

    Notes ▪ 1. Refer to One Asia Resources Limited news release 3 December 2014, For personal use only (https://www.lionselection.com.au/wp- content/uploads/2018/08/PANI%20JORC%20RESOURCE.pdf). ▪ 2. Refer to J Resources 31 December 2018 Annual Report, (http://www.jresources.com/investors/article/final-r

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