Chalice Mining Limited · ASX:CHN
Chalice Mining — Macquarie WA Forum 2024
27 slides from Chalice Mining's conference presentation, Nov 7, 2024
Slide 1: The leading palladium-nickel-copper development project in the western world
For personal use only The leading palladium- nickel-copper development project in the western world Macquarie WA Forum 7 NOVEMBER 2024 ASX:CHN ASX: CHN
Slide 2: Chalice Mining is a leading critical minerals explorer-developer in Western Australia
Chalice Mining is a leading critical minerals explorer-developer in Western Australia Tier-1 scale Resource in WA – the Gonneville Project For personal use only • 100% ownership of one of the largest undeveloped PGE-Ni- Cu-Co (critical minerals) resources in the western world • 17Moz of Pd-Pt-Au (3E
Slide 3: ASX300 listed explorer-developer with strong financial position and institutional register
Chalice is an ASX300 listed specialist critical minerals explorer-developer with a uniquely strong financial position and institutional register Major shareholders3 ASX:CHN 6-month performance For personal use only Tim Goyder 2.00 11% 1.75 Retail/Other Institutional 1.50 Paradice (5%) 53% Others (31
Slide 4: Why palladium? BEV adoption has plateaued and hybrid EV sales are growing
Why palladium? Battery electric vehicle adoption has reached a plateau and hybrid EV sales are growing rapidly Total passenger vehicle sales (China, US, Europe) For personal use only Vehicles without Palladium (BEV) Vehicles with Palladium (ICE, HEV) • Western car manufacturers are scaling back thei
Slide 5: PGE prices are deep into the cost curve and unsustainable
PGE prices are deep into the cost curve and unsustainable – given strength of demand, prices could continue to rebound PGE industry all-in sustaining cost curve (cash costs plus sustaining CapEx), net of by-product credits, US$/oz 4E 2023A1 For personal use only Quartile 1 Quartile 2 Quartile 3 Quar
Slide 6: Chalice provides significant leverage to Pd price recovery
Chalice provides significant leverage to Pd price recovery – market conditions extremely tight and potential for supply disruption is high Relative performance since Stillwater revised guidance in Sept 2024 For personal use only • Sibanye revised CY25 production Chalice PGE Producers (SSW, AMS, IMP,
Slide 7: Gonneville PGE-Ni-Cu-Co Project Overview
Gonneville PGE-Ni-Cu-Co Project Overview A new long-life, low-cost, low-carbon, strategic critical minerals project in Western Australia Strategic MOU with Mitsubishi Corporation For personal use only Top tier development partner, intention to formalise a potential binding partnership post PFS1 Tier
Slide 8: Gonneville has 'Strategic' and 'Major Project' Status
Gonneville has ‘Strategic’ and ‘Major Project’ Status – formal recognition of the importance of the Project by the WA and Federal Governments For personal use only September 2024: Awarded ‘Strategic Project Status’ by the WA State Government • Awarded by the WA Premier Hon Roger Cook MLA and Departm
Slide 9: Gonneville Resource starts at surface, drilled to ~450m, open beyond ~1.1km
The tier-1 scale Gonneville Resource starts at surface, is drilled-out to ~450m deep and is open beyond ~1.1km deep Gonneville Resource Plan View Gonneville Resource 3D View looking NNE For personal use only ~1,200 drill holes for ~320,000m completed since discovery in March 2020 ASX: CHN 9
Slide 10: The rare Gonneville Resource has high-grade optionality and growth potential
The rare Gonneville critical minerals Resource has high-grade optionality and compelling growth potential High Grade Mineral Resource Estimate1: Gonneville NSR Grade-Tonnage table2 For personal use only • 59Mt @ 2.0g/t 3E (Pd+Pt+Au), 0.20% Ni, 0.21% NSR Cut-off NSR Cut-off in Total Mass Grade in-pit
Slide 11: Development strategy: start simple and phase up in scale and complexity
The development strategy for the Project is to start as simple as possible and phase up in scale and processing complexity over time The ongoing Pre-Feasibility Study is investigating a two-stage development plan: For personal use only Stage Life (yrs) Mining method Processing Flowsheet Objectives •
Slide 12: Staged process flowsheet targeting simple products
Stage 1 process flowsheet to target simple products with staging options being evaluated in the initial phase of the PFS Recent leach testwork has highlighted Sizing Grinding potential for material reduction in operating costs relative to 2023 Scoping Study For personal use only Oxide feed Pd-Au Lea
Slide 13: Offtake terms expected to be attractive given high-grade, low-impurity products
Offtake terms are expected to be attractive given high-grade of products, low impurities and IRA-compliant source Copper-PGE-Au Ni-PGE-Co Nickel-Cobalt For personal use only Concentrate Concentrate Intermediate Product • High value concentrate with negligible • High value concentrate with very low •
Slide 14: Beyond Gonneville: >40 targets in the West Yilgarn Province
Beyond Gonneville, Chalice has defined >40 Cu-Au-Ag and Ni-Cu-PGE targets in the West Yilgarn Province – near-term focus is Cu-Au • ~1,200km long western margin of the Yilgarn For personal use only craton largely covered by Chalice’s ~10,000km2 exploration licence holding Narryer Project • Exciting
Slide 15: Recherche West and Warspite targets untested by drilling
The large-scale Recherche West and Warspite targets are completely untested by drilling and in favourable geological settings For personal use only Initial ~7,000m AC drill program testing both large-scale targets to commence in Nov 2024 ASX: CHN 15
Slide 16: Fully funded to progress development and exploration
Chalice is fully funded to progress key development and exploration activities, with ~A$98M in cash and listed investments Progress to date Status Forward Plan1 Status For personal use only Gonneville discovery Gonneville metallurgical testwork and Ongoing Mar-20 flowsheet development Staking of Wes
Slide 17: Summary: key value drivers and upcoming catalysts
Summary For personal use only Chalice owns the leading palladium-nickel-copper development project in the Key value drivers and upcoming catalysts western world 1. PGE price recovery driven by slowing BEV uptake and strong ICE/hybrid sales 2. PFS testwork – optimisation of metallurgical Chalice’s te
Slide 18: Appendix
For personal use only Appendix ASX: CHN
Slide 19: Track record of discovery and large-scale project development
Chalice’s team has a track record of discovery and large-scale project development Board of Directors Key Management Derek La Ferla, Non-Exec Chair Chris MacKinnon, CFO For personal use only • Highly regarded ASX200 chair and company director with 30+ • Qualified accountant and lawyer with 15+ years
Slide 20: Our approach to sustainability
Our approach to sustainability: Deliver sustained shared value through responsible sustainability practices For personal use only Our Sustainability Vision and Pillars Strong Environmental Manage Climate Create Value for Healthy and Safe Stewardship Change Risk Stakeholders Workforce The Gonneville
Slide 21: Since our 2006 IPO, we have acquired quality assets and generated returns
Since our 2006 IPO, we have acquired quality assets, advanced projects quickly and generated exceptional returns 2023 2024 Gonneville MOU with 2012 For personal use only 2022 Scoping Study Mitsubishi completed signed Zara Gold Project in 2020 $100M raised 2006 Eritrea sold for 2016 Major PGE- to pro
Slide 22: Big critical minerals discoveries are becoming increasingly rare
Big critical minerals discoveries are becoming increasingly rare in the western world – demand is likely to outpace supply over long term Number of base metal (Ni, Cu, Zn, Pb) discoveries in the World by size – 1900-2021 50 only Post WWII boom and new Rise of China and surge in 60 modern exploration
Slide 23: Orthomagmatic Ni-Cu+/-PGE deposits – minerals system approach
Orthomagmatic Ni-Cu+/-PGE deposits – targeting and exploration using a minerals system approach Craton Margin Setting For personal use only • Preferred siting close to craton margins • Favourable lithospheric architecture at craton margins facilitates passage of melt from mantle into crust Host Intr
Slide 24: Higher-grade sulphide component of Gonneville Resource
Higher-grade sulphide component of Gonneville Resource (in pit and underground), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal For personal use only (Mt) Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%) Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt) Measured 0.
Slide 25: Gonneville Mineral Resource Estimate (JORC 2012), April 2024
Gonneville Mineral Resource Estimate (JORC Code 2012), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal For personal use only (Mt) Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%) Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt) Measured - - - - - - - - - - - - - In
Slide 26: Cautionary statements and competent person(s) disclosure
Cautionary statements and competent person(s) disclosure Authorisation Forward Looking Statements This Presentation has been authorised for release by the Disclosure Committee. This Presentation may contain forward-looking statements and forward information, (collectively, forward-looking statements
Slide 27: Cautionary statements and competent person(s) disclosure (cont'd)
Cautionary statements and competent person(s) disclosure (cont’d.) Reliance on Third Party Information Production Targets and Forecast Financial Information The views expressed in this Presentation contain information that has been derived from third party sources that have not been The production t