Serabi Gold Plc · LSE:SRB
Serabi Gold — Investor Presentation (May 2024)
24 slides from Serabi Gold's investor presentation, May 2024
Slide 1: Corporate Presentation May 2024
May 2024 Corporate Presentation Sustainable gold production and growth in Brazil
Slide 2: Disclaimer
Disclaimer This presentation, and any ancillary documents relating to it, any oral presentation and any question or answer session (together, the "Presentation'') have been prepared and issued by Serabi Gold pic (the "Company"). This Presentation is being supplied to you solely for information purpo
Slide 3: Positioned for growth and value creation
Positioned for growth and value creation ▪ >20 year track record Sustainable Operator ▪ Stable 30-40koz pa production Palito Complex ▪ History of resource replacement ▪ Low cost & low risk doubling of production Growth to >60koz pa ▪ Underground mine development progressing Coringa ▪ Final permit pe
Slide 4: Clear path to delivering re-rating for shareholders
Clear path to delivering re-rating for shareholders Stable production base with near-term doubling (koz pa) Doubling production by 2026 Palito Coringa ▪ Low-execution risk 60 ▪ Organically funded, low initial capex of ~US$10m ▪ Mine development underway – producing gold 40 ▪ Increased scale to reduc
Slide 5: Corporate overview
Corporate overview Capital Structure Supportive share register Greenstone, 25.2% Tickers (AIM / TSX / OTCQX) SRB / SBI / SRBIF Fratelli, 25.5% Directors, 0.2% Share Price (22 Apr 2024) £0.65 / C$1.14 / US$0.84 River and Mercantile, 2.9% Ordinary Shares 75.7m Fully Diluted Shares 78.5m Premier Miton,
Slide 6: Board and Key Management
Board and Key Management Mike Hodgson (CEO) Michael Lynch-Bell (Non-exec Chairman) Over 40 years worldwide mining experience, focused on operating 38 years with Ernst & Young (EY), having led its Global Oil and Gas, and building underground mines. Previously COO at Orvana UK IPO & Global Oil and Gas
Slide 7: Committed to mining sustainably in Brazil
Committed to mining sustainably in Brazil >20 years of successful operation with our stakeholders Commitment to Health & Safety ▪ >9,000 hours of safety training ▪ 31% compound annual TRIFR improvement over 6 years Supporting local communities ▪ Majority local workforce: 70% from State of Para, 32%
Slide 8: Leading Gold Producer Emission Intensities
Leading Gold Producer Emission Intensities Low carbon intensity Gold Producer Greenhouse Gas Emission Intensities (t CO2-e/oz) 3.90 ▪ Serabi has one of the 1.63 lowest GHG emission 1.51 intensities when compared Group intensity avg. of 0.76 / S&P Global avg. of 0.83 to senior gold producers 0.64 0.6
Slide 9: Uniquely positioned in globally significant Tapajós mineral province
Uniquely positioned in globally significant Tapajós mineral province Para State ▪ No. 2 in Brazil for mining with improving infrastructure ▪ Development incentives - effective tax rate of 15.25% The Tapajós - a globally significant mineral province ▪ ~90,000km2 (size of Portugal) ▪ 3rd largest alluv
Slide 10: Palito Complex
Palito Complex SERABI
Slide 11: Delivering consistent production
Palito Complex Delivering consistent production GUIDANCE 38,000 to 40,000oz for 2024 43-101 RESOURCES* (Oct 2023) M&I: 378koz at 10.1g/t, Inf: 154koz at 7.0g/t MINING Underground - selective open stoping PROCESSING 500tpd conventional flotation and CIP, ore-sorter PRODUCT Gold bullion and concentrat
Slide 12: Unlocking full value
Palito Complex Unlocking full value Ore sorting ▪ Sorts on colour and/or density ▪ Used to remove waste and pre-concentrate ROM ▪ Liberates plant capacity ▪ Minimises transport costs and tailings ▪ Coringa ore is highly amenable to ore sorting • Pre-tested using ore sorter at Palito Complex • Same o
Slide 13: Palito headframe exploration
Palito Complex Palito headframe exploration ▪ History of resource replenishment ▪ Palito mine sits within 8km NW-SE trend ▪ Ore-bodies remain open laterally, on strike and to depth ▪ Intrusion-related gold deposit – expected to have very significant vertical extent ▪ 2022-23 drilling added significa
Slide 14: Coringa
Coringa Our next mine to double production… development underway
Slide 15: Low capex doubling production
Coringa Low capex doubling production Advanced development project to create a multi- OWNERSHIP asset >60koz Acquired 100% for US$22m pa producer Resource growth potential STATUS with u/g drilling ECI complete, final permit (LI) pending PRE-ACQUISITION WORK COMPLETED BFS, 50,000m drilling, process p
Slide 16: Low risk and favourable economics
Coringa Low risk and favourable economics Low risk Coringa Project 2019 PEA base case Revised plan ▪ Coringa, a carbon-copy of Palito ~200km to south Annual production 38koz1 38koz1 ▪ No tailings dam ▪ Camp, lab, workshops and access roads all newly built Mine life 9 years 9 years Low cost Average m
Slide 17: Potential for multiple mines
Coringa Potential for multiple mines ▪ Significant resource growth potential as drilling limited to ~250m vertical depth ▪ Current resource underlies 1.5km of artisanal workings in 8km artisanal trend ▪ All lying within 30km of anomalous soil geochemistry – remainder is untested 16
Slide 18: Exploration
Exploration SERABI GOLD
Slide 19: High priority greenfield exploration targets
Exploration High priority greenfield exploration targets Priority targets 1. São Domingos ▪ 4km x 2km target ▪ Significant artisanal activity ▪ High grade first pass drilling 2. Matilda ▪ 4km x 4km target ▪ In 2023, drilled 7,598m (21 holes) ▪ 12 holes hit copper porphyry mineralization Ganso ▪ Geol
Slide 20: São Domingos – Toucano prospect
Exploration São Domingos – Toucano prospect Hole 21-SD-010: 7.15m at 258g/t Au ▪ Intercepts include 7.15m at 258g/t – 7th highest intercept for TSX company in 2021* ▪ Follow-up drilling planned for 2023-24 * www.mining.com/mining-2021-top-10-drill-holes-of-the-year/ 19
Slide 21: Matilda prospect
Exploration Matilda prospect ▪ 4x4 km geochemical anomaly with 2x2 km Au-Cu-Mo-W core ▪ Coincident with anomalous high magnetic susceptibility associated with magnetite alteration ▪ Mapped granites with potassic, propylitic and sericite-chlorite alteration, dacite porphyry and quartz-sulphide veins
Slide 22: Delivering Value
oD) = O > o) c <= O _— 5a) a) 6 od SERABI GOLD
Slide 23: Significant re-rating potential
Delivering Value Significant re-rating potential Undervalued, enhanced scale to drive re-rating EV/2024E Production (US$/oz) EV/2024E EBITDA (x) Orla $8,665 Orla 11.3x McEwen $6,130 Mako 6.6x Wesdome $5,800 Wesdome 6.5x Mako $4,443 Karora 5.6x Karora $3,526 Steppe 5.6x Calibre $2,989 Argonaut 5.6x V
Slide 24: SERABI GOLD plc
For further information please contact us: SERABI GOLD plc Mike Hodgson Chief Executive tel +44 (0) 20 7246 6830 email contact@serabigold.com The Long Barn Cobham Park Road Downside Surrey KT11 3NE United Kingdom www.serabigold.com