Iondrive Limited · ASX:ION
Iondrive — Southern Gold — Shareholder Meeting (November 2020)
14 slides from Iondrive's shareholder meeting presentation, Nov 26, 2020
Slide 1: Annual General Meeting 26 November 2020
SOUTHERNGOLD SOUTHERNGOLD Annual General Meeting 26 November 2020 ASX Ticker: SAU
Slide 2: Disclaimer
SOUTHERNGOLD Disclaimer Forward-looking statements The information in this presentation is published to inform you about Southern Gold Limited (“Southern Gold”) and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. These may inc
Slide 3: Strategy Remains the Same
SOUTHERNGOLD Strategy Remains the Same “The discovery and definition of high-grade precious metal deposits in South Korea.” ✓ Actively drilling ✓ Ausino Drilling Services ✓ New project “Janghwal” ✓ Funded ✓ New cornerstone investor ✓ Well supported by major shareholders ✓ Active business development
Slide 4: Developments – Last months
SOUTHERNGOLD Developments – Last 3 months ❑ Drilling ❑ Multiple typhoons have moved across Japan and the Korean peninsular ❑ Weolyu – first 2 drill holes completed ❑ Dokcheon – rig has commenced drilling ❑ Aphae – drone aeromagnetic survey (KIGAM) commenced, drilling likely over winter ❑ Project Gen
Slide 5: Drilling
SOUTHERNGOLD Drilling Drill Operations relatively unimpacted by COVID19 Aphae Assays Received – high grade gold intercepted, wide low grade in breccia Shin Adit, Deokon – Narrow intercept Weolyu – First 2 drill holes completed Dokcheon – Drilling just started Aphae Round 2 drilling shortly Drill Pip
Slide 6: Project Example: Aphae
SOUTHERNGOLD Project Example: Aphae See ASX Release Quarterly Report 30 September 2020 6
Slide 7: A First for SGK - Drone Magnetic Survey
SOUTHERNGOLD A First for SGK - Drone Magnetic Survey Drone magnetic survey conducted by KIGAM : Korean Institute of Geoscience and Mineral Resources See ASX Release 26th November 2020: Operations Update 7
Slide 8: Perseverance is important
SOUTHERNGOLD Perseverance is important Janghwal Deokon Historic mine found to the south Mineralised trend extended to the north See ASX Release 26th November 2020: Operations Update 8
Slide 9: No debt, $10m funding now in place
SOUTHERNGOLD No debt, $10m funding now in place A$10.2m placement @ A$0.12/share announced 1st vaccine announced Placement approved COVID19 Ordinary Shares 213.3m Share Price (25 November 2020) AUD$0.10 Market Capitalisation AUD$21.3m Cash ~AUD$11m Enterprise value (EV) AUD ~AUD$10m EV USD (US$0.731
Slide 10: JV Interest sale process concluding
SOUTHERNGOLD JV Interest sale process concluding Southern Gold Ltd (ASX) Bluebird Merchant Ventures Ltd (LSE) Enterprise Value ~US$7m# Enterprise Value ~US$25m# >SAU x3 100% Sale Process Current* 50% International Gold (IGPL) 50% [Singapore subsidiary] Gubong Project Kochang Project JV Co Ltd JV Co
Slide 11: What’s Coming Up?
SOUTHERNGOLD What’s Coming Up? Funded to complete diamond drilling programmes across the portfolio in 2021 and 2022 ❑ First pass scout drilling at Dokcheon (SAU 100%) Now ❑ Result of the Independent Valuation for JV interest Imminent ❑ Follow-up drilling at Aphae (SAU 100%) Winter 2020-21 ❑ First pa
Slide 12: Thank you!
SOUTHERNGOLD Thank you! ❑ New Cornerstone Investor, Crescat Capital LLC ❑ Cornerstone Investor Metal Tiger Plc ❑ Cornerstone Investor Flannery Family Office ❑ Other major shareholders ❑ Ausino Drilling Services ❑ Ashanti Capital, Fosters Stockbroking & Red Cloud Securities ❑ And….the SGK Team Metal
Slide 13: Thank you!
SOUTHERNGOLD Thank you! The Southern Gold Korea (“SGK”) team: a key differentiator! 13
Slide 14: Contacts
SOUTHERNGOLD Contacts Simon Mitchell Managing Director Office: +61 8 8368 8888 smitchell@southerngold.com.au info@southerngold.com.au Web Address: www.southerngold.com.au Physical Address: 10 George Street Stepney, South Australia 5069 Australia Postal Address: PO Box 255 Kent Town SA 5071 14