Slide 1: Rise & Shine Scoping Study Presentation
Rise & Shine Scoping Study Presentation Company Presentation April 2024
Slide 2: Disclaimer
Disclaimer Disclaimer Previous Disclosure - 2012 JORC Code All information contained in this presentation is of a general nature. Potential investors are cautioned The information in this report that relates to Mineral Resources or Ore Reserves is based on information in against using the content of
Slide 3: Scoping Study Outcomes
SCOPING STUDY OUTCOMES CURRENT SPOT GOLD PRICE: NZ$3,900/oz AUD$3,590 USD$2,340 AVG. GOLD LIFE OF MINE TOTAL GOLD NET PROFIT AFTER TAX AFTER TAX PRODUCTION/YR (YRS) RECOVERED (NZ$) NPV10 (NZ$) 110,000oz 10 1.12Moz $2.0 BILLION $937 MILLION PRE-PROD & WORKING REVENUE EST. TIME TO EST. TIME TO CAPITAL
Slide 4: 10YR Mine Plan
10YR MINE PLAN • Process Plant: CIL 1.5Mtpa • Open Pit • 8 years • 12.1Mt - 84% Indicated • 2.5g/t • Underground Schematic • 4 years • 2.3Mt - 84% Indicated • 3.1g/t • Total Ounces • 1.12Moz recovered 1. ASX release 17 April 2024 – Outstanding Economics from RAS Scoping Study
Slide 5: Open Pit – 8 Years
OPEN PIT – 8 YEARS Increment Total Mill Waste Strip Grade Gold Indicated Inferred Rock Feed Ratio Mt Mt Mt g/t koz % of Gold Waste 32.0 32.0 Pre-Strip Stage 1 20.9 17.9 3.0 6:1 3.3 321 89% 11% Stage 2 21.9 19.2 2.7 7.1:1 2.3 202 84% 16% Stage 3 45.1 41.2 3.9 10.6:1 2.1 263 78% 22% Stage 4 42.6 40.1
Slide 6: Underground – 4 Years
UNDERGROUND – 4 YEARS • Open pit vs UG interface modelled • UG chosen to start below LG Shell 51 • Longhole open stoping with paste backfill • Mine life of 4 years • Mining costs include: • Decline development 2.1km DSO Shapes Small LG Shell Large LG Shell • Level development 5.1km Outside LG Shells
Slide 7: Key Metrics
KEY METRICS Key Financial Assumptions Unit Base Case NZD NZD AUD USD Gold Price Assumed $/oz $2,705 $3,9002 A$3,5452 US$2,3402 Exchange Rate USD:$ US$0.61 US$0.60 US$0.66 US$1.00 Key Project Metrics Gold Produced Oz 1.12 million Initial Mine Life 10 years of mine production Gold Revenue $M $3,030M $
Slide 8: Company snapshot
Company snapshot Board & Management Corporate Peter Cook Craig McPherson Capital Structure Non-Exec Chair CFO & Co-Sec Geo and mine maker Finance and compliance Market A$231 million Capitalisation 178 million FPO shares @ A$1.30/share – Apr 17, 2024 Damian Spring Rod Redden 1 for 5 Bonus Option at $
Slide 9: Bendigo-Ophir (BOP) Gold Project
Bendigo-Ophir (BOP) Gold Project Multiple gold discoveries over five kilometres of strike Rise and Shine (RAS) RAS 2,216koz @ 2.2g/t Au Come In Time CIT 59koz @ 1.5 g/t Au Shreks SHR 174koz @ 1.1 g/t Au Shreks-East SRE 11koz @ 1.3 g/t Au Combined Total RSSZ 2,462koz @ 2.1 g/t Au* * refer to ASX rele
Slide 10: RAS Location and Plan
RAS Location and Plan Central Otago, one hour drive from Queenstown RAS – 1.7km down plunge (and open), 450m wide, up to 40m thick 10
Slide 11: Blessed with infrastructure
Blessed with infrastructure No FIFO No major camps Bendigo-Ophir Main road access RAS Gold Project Access to fresh water Cheap power Lake Dunstan FRESH WATER Cromwell State Highway 8 8,000 people EASY ACCESS LABOUR Queenstown International Airport 1hr away Clyde Dam Hydro Power LOW COST GREEN ENERGY
Slide 12: RAS schematic long section
RAS schematic long section Thick, continuous, high-grade intercepts traced 1.7km down plunge Open pit and underground mining potential 12
Slide 13: Typical cross section to the south
Typical cross section to the south Thick, wide, high-grade… • Best intercepts in Cross Section A 41.3m @ 10.8g/t 40.9m @ 4.1g/t 23.6m @ 2.3g/t 13
Slide 14: 200m down plunge to the north
200m down plunge to the north …thickness and grade continues • Continued in Cross Section B 28.2m @ 7.2g/t 18.0m @ 8.7g/t 27.1m @ 3.1g/t 14
Slide 15: 200m further down plunge to the north
200m further down plunge to the north …continues and is open at depth • Continued in Cross Section C 41.0m @ 2.4g/t 30.4m @ 3.0g/t 41.0m @ 1.5g/t 15
Slide 16: Simple metallurgy
Simple metallurgy Amenable to gravity and CIP LT2 – Gold recovery vs leach time • RAS is 100% fresh, unoxidized schist rock 100% • Standard gravity-cyanide leach testwork 90% undertaken by IMO on master composite 80% sample, overseen by MACA Interquip Extraction (%) 70% 60% • Indicative metallurgy s
Slide 17: Plenty more – CIT, SHR/SHRE, TSD, UTS, BDR, PCK
Plenty more – CIT, SHR/SHRE, TSD, UTS, BDR, PCK The historic Bendigo underground mine 180,000oz produced at 1 to 6oz/t avg. grade Arsenic pathfinder anomalies showing primary mineralized structures, yet to be traced under the TZ3 schist unconforming cover (20m year age difference) Un-drilled primary
Slide 18: The year ahead – streams
The year ahead – 2 streams Stream 1 Stream 2 Commercialisation of RAS deposit Bendigo – Ophir Project exploration • Completion of Mineral Resource Update • Resource definition drilling at CIT, SHR • Completion of Metallurgical Testwork • Initial drill testing of anomalies • Scoping Study Done • Regi
Slide 19: A clear pathway to permitting
A clear pathway to permitting New pro-development government in place since November 2023 Resource Consenting Mineral Access Land Access (Environmental Approval) Principal Act CMA 1991 CMA 1991, OIA 2005 RMA 1991 1 Authority NZ Petroleum and Minerals Private freehold Central Otago District Council (
Slide 20: A compelling investment
A compelling investment PFS Underway • Scoping study done with outstanding economics • 10 year mine life at 110,000oz/year recovered • Total cash operating cost: NZ$897/oz • Total production cost: NZ$1,392/oz • NPAT: NZ$2.0 Billion • Full team now in place to advance the project • Project is in a lo
Slide 21: Mineral resource estimate (MRE 2024)
Mineral resource estimate (MRE 2024) Deposit Category tonnes (Mt) Au grade (g/t) Contained Gold (koz) February 2023 Indicated 17.1 2.4 1,293 RAS1 Inferred 13.7 2.1 923 RAS Total Indicated and Inferred 30.8 2.2 2,216 CIT2 Inferred 1.2 1.5 59 SHR2 Inferred 4.7 1.1 174 SRE2 Inferred 0.3 1.3 11 Indicate
Slide 22: Rise & Shine (RAS)
Rise & Shine (RAS) Unveiling NZ’s Newest Major Gold Discovery Bendigo-Ophir Project Euroz Hartleys Rottnest Conference March 2024