Tolu Minerals Limited · ASX:TOK
Tolu Minerals — Investor Presentation (December 2023)
42 slides from Tolu Minerals's investor presentation, Dec 6, 2023
Slide 1: Corporate Presentation release cover letter
Tolu Minerals Limited PNG CR Company Camp, Baruni Road, National Capital District, Papua New Guinea Company Registration No.: 1-125888 Level 2, 52 Merivale Street, South Brisbane, QLD 4101, Australia www.toluminerals.com ARBN: 657 300 359 6 December 2023 Corporate Presentation The Directors of Tolu
Slide 2: Corporate Presentation December 2023
For personal use only ASX:TOK ARBN 657 300 359 1-125888 CORPORATE PRESENTATION December 2023 This document is not a prospectus and does not contain all of the information that an investor may require in order to make an informed investment. All geological data presented in this document, including,
Slide 3: Overview
Overview Tolu Minerals Limited: ARBN 657 300 359; 1-125888 (“Tolu”) Highly regarded mining and corporate team with decades of exploration, mine refurbishment and mining experience For personal use only Papua New Guinea is emerging as a world class gold/copper producer Tolu’s strategy centred on refu
Slide 4: Capital Strategy
Capital Strategy ➢ Refurbish infrastructure to facilitate exploration • Main access road – work has commenced • Hydroelectric power station For personal use only • Dewatering • Environmental Baseline • Increase MRE confidence levels • On ore development planned out for the Zine Top, Tinabar Top and
Slide 5: Risk Management
Risk Management Tolu has undertaken intensive due diligence and analysis in order to understand the project fundamentals, manage the risk profile and identify the critical success factors to support successful project delivery Key Risks and Mitigation: For personal use only ➢ Access road: Tolu has e
Slide 6: Tolu Strategic Focus
Tolu Strategic Focus For personal use only Tolu is focused on re- Tolu has already secured furbishing a world-class gold early building blocks to mine at Tolukuma, enable it to unlock short- leveraging existing mining term and long-term value infrastructure to from these assets substantially grow th
Slide 7: Why Invest in Tolu Minerals
Why Invest in Tolu Minerals Tolu is the 100% owner of a unique pipeline of assets Tolukuma gold mine – historical high-grade gold/silver producer (15 g/t Au recovered grade) with a large MRE and significant Resource potential For personal use only Large and dominant footprint controlling the known a
Slide 8: Tolukuma Gold Mine – The engine of the business
Tolukuma Gold Mine – The engine of the business Located in the Central Province of PNG approximately 100km North of Port Moresby Mining commenced in 1995 as a small, but high-grade Au/Ag, largely underground mine with some surface workings and For personal use only produced approximately 1 million o
Slide 9: Tolukuma Gold Mine – Fully self contained mine
Tolukuma Gold Mine – Fully self contained mine Immediate next steps: For personal use only ➢ Complete the 70 km access road (23 km outstanding) to connect the mine to the Hiritano highway to Port Moresby; The contractor is an experienced and credible civils group; ➢ Expected completion June 2024. ➢
Slide 10: Tolukuma Gold Mine – Access Road
Tolukuma Gold Mine – Access Road ➢ Complete the 70 km access road (23 km outstanding) connecting the mine to the Tapini road and Port Moresby; ➢ Strong community and government support ➢ Work commenced in December after the completion of the IPO; For personal use only ➢ The contractor is an experien
Slide 11: Tolukuma Mineral Resource Estimate
Tolukuma Mineral Resource Estimate AMC reported an Inferred Mineral Resource as of 18 August 2022:1 1.6 M tonnes @ 10 g/t Au and 38 g/t Ag For personal use only ➢ ➢ Contained metal 503 Koz Au and 1.9 Moz Ag ➢ Cut – off grade 3 g/t N.B. K92 reporting against a 1 g/t Au cut-off for their Kora MRE that
Slide 12: Tolukuma Project – Resource conversion
Tolukuma Project – Resource conversion Three main areas above the current water level have been identified as being most appropriate for the initial resource upgrade: ➢ Tinabar Top: +1563m RL; 16.87 g/t @ 5g/t cut off For personal use only ➢ Zine Top: +1563m RL; 13.16 g/t @ 5g/t cut off ➢ Gulbadi: 1
Slide 13: Tolukuma Project – Fundoot
Tolukuma Project – Fundoot The Fundoot Structure is immediately South of the historic mine workings, dipping to the Northeast and bearing Southeast to Northwest. The Fundoot structure is South of and sub-parallel to the highly productive Gulbadi structure that was a mainstay of the mine For personal
Slide 14: Tolukuma Project – Fundoot
Tolukuma Project – Fundoot The MRE contains a Mineral Resource for the previously unmined Fundoot vein of 91 koz Au at 13 g/t Au(refer to ASX announcement, Prospectus Page 44, dated 9 November 2023). The Fundoot vein structure is currently identified as over 250m on strike and 380m in depth, but ope
Slide 15: Tolukuma Project – on mine potential
Tolukuma Project – on mine potential Area mined 1995 – 2015 Inferred Resource: 370 koz For personal use only Endowment: >1.5 moz New unmined discoveries from u/g drilling: Fundoot, Gulbadi Red & Mystery veins Inferred Resource 133 koz Milihamba Drive Multiple targets in 2,000 m strike unexplored Sou
Slide 16: Tolukuma Project – near mine potential
Tolukuma Project – near mine potential Ground based 3DIP Conductivity Geophysical Results Showing additional 2km of Veins Systems at For personal use only Depth and drill targets for gold and silver mineralisation. Tolukuma, ML 104 and the surrounding EL2531 sit across the 3 main regional structures
Slide 17: Tolukuma – Taula and Proximal Southeastern Targets
Tolukuma – Taula and Proximal Souteastern Targets Recent exploration by Tolu Minerals Limited confirms continuity of epithermal gold mineralisation in For personal use only the Tolukuma structural corridor for at least 5km south southeast from the Tolukuma gold mine. Exploration Gold targets identif
Slide 18: Tolukuma – Southeastern Targets
Tolukuma – Southeastern Targets The Miliahamba Vein intersects the Tolukuma structure approximately 3 km South-Southeast from the mine. The intersection is adjacent to a mapped dioritic For personal use only intrusive that is a separate target for possible porphyry- style mineralisation. The Miliaha
Slide 19: Tolukuma Structure – Saki Maiden Resource
Tolukuma Structure – Saki Maiden Resource On 28 February 2022 Lanthanein Resources Ltd (formerly Frontier Resources Ltd) released a maiden Inferred Mineral Resource on the Saki prospect of 2 M tonnes @ 2.0 g/t for 128,000 oz Au1 For personal use only Saki forms part of the Saki-Yava gold system with
Slide 20: Near Tolukuma Mine Gold Prospects
Near Tolukuma Mine Gold Prospects ➢ Existing Mineral Resource Estimate at Tolukuma of 503 koz Au at 10g/t including 91 koz at 13 g/t Au on the unmined Fundoot Structure (refer to ASX Announcement dated 4 December 2023). ➢ Significant strike extensions from historical ground based 3DIP conductivity g
Slide 21: Near Tolukuma Mine Gold Prospects – Exploration Target
Near Tolukuma Mine Gold Prospects Based on the MRE tonnes and grades, extension of the Tolukuma vein system 2km to the SSE, grades of the Miliahamba prospect drilling, grades from drilling at Taula, Sisimonda and Kimono, grades and tonnage of the Saki Inferred Resource and trench sampling grades fro
Slide 22: Tolukuma Structure – Exploration Upside
Tolukuma Structure – Exploration Upside Tolu currently hold seven exploration licenses on strike and parallel mineralised structures to Tolukuma gold mine ➢ including completion of the acquisition of For personal use only Lanthanein Resources Limited’s PNG assets including EL 2531 Tolu has an additi
Slide 23: Tolukuma Project – near mine exploration targets
Tolukuma Project – near mine exploration targets Tolu Minerals Ltd For personal use only The Tolukuma Structure is partially mapped over a 30 km strike and about 5 km width. Will benefit from latest generation Airborne Mobile MT geophysics to better define structure and anomalies including porphyrie
Slide 24: Mt Penck
Mt Penck Epithermal gold/silver project on the prolific Kulu-Simi trend, adjacent to the coast with good logistics For personal use only ➢ +11,000 m drilling ➢ Aeromag and IP geophysical surveys ➢ Extensive trenching and pitting 3 priority targets identified within a broader 12km2 hydrothermal zone
Slide 25: Mt Penck
Mt Penck At Kavola/Kavola East mineralisation has been intercepted from surface to depths of 170m Two principal styles of mineralisation: For personal use only ➢ Broad zones 10m to > 50m, lower grade 1 – 3 g/t, stockwork mineralization generally at depths of 50 to 167m ➢ Narrow zones 0.5m to 3.0m bu
Slide 26: Portfolio Summary
Portfolio Summary Tenement Type Location Size ML 104 (Tolukuma mine) Mining Lease Tolukuma 771 ha EL 2385 Exploration License Tolukuma Structure 197 km2 For personal use only EL 2535 Exploration License Tolukuma Structure 255 km2 EL 2536 Exploration License Tolukuma Structure 126 km2 El 2538 Explora
Slide 27: Summary
Summary ➢ Historical high-grade gold/silver mine with a substantial existing Mineral Resource and extensive exploration upside ➢ Compelling pipeline of assets with short term value growth potential For personal use only ➢ Company build focus - leveraging a unique portfolio ➢ Low risk relative to pee
Slide 28: Risks
Risks Introduction There are risks involved with investing in the Company. In addition to the general market and economic risks, some of these risks are specific to investing in the Company and holding Shares. The occurrence of these risks may have an impact on the business, results of operations, f
Slide 29: Risks
Risks • Exploration and evaluation risk The future value of Tolu will depend on its ability to find and develop additional resources that are economically recoverable within its licences. Mineral exploration and development is inherently highly speculative and involves a significant degree of risk.
Slide 30: Risks
Risks • Commercialisation, Infrastructure Access and Contractual risks Tolu’s potential future earnings, profitability, and growth are likely to be dependent upon the Company being able to successfully implement some or all of its commercialisation plans. The ability for Tolu to do so is further dep
Slide 31: Risks
Risks • Environmental risks The Company is engaged in exploration, development and mining activities with a range of environmental impacts and actively engages with government departments and other stakeholders to ensure open communication and accurate assessment of environmental approvals. All phas
Slide 32: Risks
Risks • Permit risks The rights to mineral permits carry with them various obligations which the holder is required to comply with in order to ensure the continued good standing of the permit and, specifically, obligations in regard to minimum expenditure levels and responsibilities in respect of th
Slide 33: Risks
Risks • Commodity Risk The Company’s possible future revenues may be derived mainly from gold and/or from royalties gained from potential joint ventures or other arrangements. For personal use only Consequently, the Company’s potential future earnings will likely be closely related to the price of g
Slide 34: Risks
Risks • Exchange rate risk The revenues, earnings, assets and liabilities of the Company may be exposed adversely to exchange rate fluctuations. The Company’s revenue may be denominated in Australian Dollars or a foreign currency, such as PNG Kina or United States Dollars. As a result, fluctuations
Slide 35: Risks
Risks • Management actions The success of the Company is currently largely dependent on the performance of its directors and officers. Directors of the Company will, to the best of their knowledge, experience and ability (in conjunction with their management) endeavour to anticipate, identify and ma
Slide 36: Risks
Risks General Risks • Investment risk For personal use only There are a number of risks associated with any stock market investment. The market price of Shares can be expected to rise and fall in accordance with general market conditions and factors and there can be no certainty that, following list
Slide 37: Risks
Risks • Taxation The acquisition and disposal of Shares will have tax consequences, which will differ depending on the individual financial affairs of each investor. All potential investors in the Company are urged to obtain independent financial advice about the consequences of acquiring Shares fro
Slide 38: Disclaimer and Important Information
Disclaimer and Important Information Important notice These presentation slides (the “Slides”) have been issued by Tolu Minerals Limited (the “Company” or “Tolu”) in relation to an update on activities by the Company. These Slides do not comprise an admission document, listing particulars or a prosp
Slide 39: Disclaimer and Important Information
Disclaimer and Important Information Investment risks All investments in securities are subject to known and unknown risks, including an investment in Tolu shares. Some of these risks are beyond the control of Tolu and its directors and officers, and Tolu does not guarantee any particular rate of re
Slide 40: Disclaimer and Important Information
Disclaimer and Important Information Disclaimer To the maximum extent permitted by law, the Company each of its respective related bodies corporate, shareholders and affiliates, and each of their respective officers, directors, partners, employees, representatives, affiliates, agents, consultants an
Slide 41: Disclaimer and Important Information
Disclaimer and Important Information Competent Persons Statement The information in this presentation that relates to Exploration Results, Mineral Resources and Ore Reserves were last reported by the Company in compliance with the 2012 Edition of the JORC Australasian Code for Reporting of Explorati
Slide 42: Contacts
Contacts For personal use only Iain Macpherson +27 76 238 4461, + 61 428 912 245, +675 7202 7320 MD & CEO iain.macpherson@toluminerals.com Vern Wills +61 418 912 664 Advisor vern.wills@enhance.net.au 41
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