Kaiser Reef Ltd · ASX:KAU
Kaiser Reef — RIU Sydney Resources Round Up 2025
21 slides from Kaiser Reef's conference presentation, May 6, 2025
Slide 1: High-grade Australian Gold Producer & Explorer
ASX:KAU For personal use only High-grade Australian Gold Producer & Explorer Building a multi asset producer in Victoria and Tasmania May 2025 RIU Sydney Resources Round Up Investor Presentation ASX:KAU | 1
Slide 2: Disclaimer
Disclaimer This presentation is confidential and may not be reproduced, redistributed or passed on, directly or indirectly. This presentation has been prepared by Kaiser Reef Limited “Kaiser” (ASX: KAU). This document contains background information about Kaiser current as at the date of this presen
Slide 3: Australian Gold Mining & Processing
Australian Gold Mining & Processing Incoming - Henty Gold Mine Maldon Gold Mine For personal use only • Location: Tasmania • A Mining Study has been completed to restart • Status: Production exploration and production at the Union Hill Gold • Resources: 449koz @ 3.4g/t Au(²) Mine in Maldon after bei
Slide 4: Transaction snapshot
Henty transaction snapshot (1) Creation of a multi-asset +30kozpa gold producer with clear path to organically double production For personal use only (2) Inheriting Henty in its strongest position for over a decade (3) Attractive upfront purchase price - EV/Production of <$1,200/oz; <12-month payba
Slide 5: Capital structure and board of directors
Capital structure and board of directors 593M $0.16 $94M $10M $27.2M For personal use only Shares on issue Share price Market capitalisation Debt Cash (5 May 2025) JONATHAN DOWNES STEVE FORMICA Managing Director Chairman Geologist with 30 years’ experience in the mining industry 35 years’ experience
Slide 6: Pro forma Kaiser
Pro forma Kaiser The acquisition of Henty creates a multi-asset, high-grade gold producer in Victoria & Tasmania Pro Forma Snapshot For personal use only Pro forma Production (FY24)(6) 33koz Pro forma Market Capitalisation: $94m Maldon Plant A1 Gold Mine Pro forma Cash $27.2m Pro Forma Debt $10.0m P
Slide 7: Henty: strongest position in over a decade
Henty – strongest position in over a decade Henty is a proven mine and prolific geological system that has been re-invigorated under Catalyst’s ownership For personal use only Very profitable operation Re-investment & owned by Majors Limited Exploration & Investment Catalyst Turnaround Future with K
Slide 8: Set up for success
Henty – set up for success Kaiser to capitalise on Catalyst’s investments & initiatives that have set Henty up for long-term success Significant Resource& Reservegrowth (since 2020)(1) … Stabilised production& cost base… expanding margins For personal use only 34% increase in Resource Endowment Impl
Slide 9: Production optimisation
Henty – production optimisation Initial due diligence has identified a clear strategy to optimise mining and increase productivity Underground Development Target (m) For personal use only 1 Increase development rates ▪ Streamline jumbo fleet ▪ Target 600m / month from two development jumbos, up from
Slide 10: Exploration upside
Henty – exploration upside Prolific geological system – historical production of 1.4Moz @ 8.9g/t – remains open For personal use only ✓ Zone 96 and Cradle Zone provide the opportunity to extend mine life within the The Darwin Zone has produced over 655koz of current footprint gold at 8.4g/t, over on
Slide 11: Regional exploration
Henty – regional exploration • Historical drilling didn’t target current area of interest Henty Fault • Underground development completed by Catalyst to allow new drill platform to target area • 1000m surface hole underway • Area of interest lies along mineralised corridor of old workings (as record
Slide 12: Maldon Victoria – prolific high-grade tenure
Maldon Victoria – prolific high-grade tenure Fully permitted and situated on granted mining leases. Ready for mining recommencement Over 4km of highly prospective strike located just ~4km from Kaiser’s operating ~200ktpa CIP plant For personal use only Existing 2.4km long 5.5m x 5.5m decline –
Slide 13: Maldon (Union Hill) – clear path to grow ounces
Maldon (Union Hill) – clear path to grow ounces Little-to-no exploration drilling for over a decade (previous owners were balance sheet constrained) Systematic underground drill program planned to grow resource and define mining inventory (initial focus on Union Hill) For personal use only Min
Slide 14: A1 Mine – positioned for growth
A1 Mine – positioned for growth A1 Mine Long Section For personal use only LookingWest A1 has historically been restricted to remnant mining which has constrained productivity and production rates to less than 12kozpa $25M of capital investment completed, including decline, ventilation and power
Slide 15: Maldon Victoria – existing processing plant
Maldon Victoria – existing processing plant A strategic operating ~200ktpa CIP processing plant and ancillary infrastructure in Victoria For personal use only A key piece of infrastructure for future Victorian goldfields consolidation ~200ktpa CIP gold processing plant located ~4km from Maldon a
Slide 16: Why invest in Kaiser Reef?
Why invest in Kaiser Reef? For personal use only Existing Australian Transformational Production Growth Strong Financial Right People East Coast Assets Acquisition in Progress Position Targeting over 30,000 Experienced and Developing the high- Henty Gold Mine, ounces annually at Post completion, suc
Slide 17: Competent Person's Statements
Competent Person’s Statements JORC Code For personal use only It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves (“JORC
Slide 18: Kaiser Resource & Reserve Statement
Kaiser Resource & Reserve Statement JORC(2012) Mineral ResourceEstimate For personal use only Indicated Inferred Total Mineral Resource Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (Mt) (g/t Au) (koz) (Mt) (g/t Au) (koz) (Mt) (g/t Au) (koz) Union Hill(1) - - - 1.3 4.4 187 1.3 4.4 187
Slide 19: Henty asset overview
Henty – asset overview Henty is a well-established underground gold mine located within a mineral rich province in West Coast Tasmania Location ~23kms from Queenstown, West Coast Tasmania, Australia For personal use only Ownership 100% 3 MLs and 2 ELs(3) covering 81km2 Tenement Package All r
Slide 20: Excellent infrastructure
Henty – excellent infrastructure Significant infrastructure (+A100M replacement value) and excellent local workforce For personal use only ✓ 300ktpa SAG Mill feeding a conventional CIL circuit ✓ Skilled local workforce of +150 employees (~23kms from Queenstown) ✓ 22kV grid power supply (TasNetworks)
Slide 21: Cost optimisation
Henty – cost optimisation Increase processing throughput, leveraging mining productivity For personal use only 1 Increase processing capacity ▪ SAG mill automation planned – productivity increase +10-15% ▪ Additional processing throughput increases targeting >400ktpa 2 Transition the underground to