Capricorn Metals Ltd · ASX:CMM
Capricorn Metals — Bell Potter Unearthed Conference February 2022
20 slides from Capricorn Metals's conference presentation, Feb 9, 2022
Slide 1: Bell Potter Unearthed
Bell Potter Unearthed 9 February 2022 capmetals.com.au 1
Slide 2: Disclaimer & Competent Persons Statement
Disclaimer & Competent Persons Statement GENERAL FORWARD LOOKING STATEMENTS The purpose of this presentation is to provide general information about Capricorn Metals Limited (“Capricorn” or the This announcement may contain certain “forward-looking statements” and comments about future events. Forwa
Slide 3: Corporate Summary - CMM
Corporate Summary - CMM Capital Structure Directors and Management Shares on issue 371.6 million Mark Clark – Executive Chairman Kim Massey – CEO Performance rights 4.1 million Mark Okeby – Non Exec Dir Paul Thomas – COO Myles Ertzen – Non Exec Dir Stephen Evans – GM Karlawinda Share price $3.34 Ber
Slide 4: Capricorn Metals – A Purely Western Australian Gold Producer
Capricorn Metals – A Purely Western Australian Gold Producer Compelling combination of cashflow and growth Karlawinda Gold Project (KGP) • Ore reserves 1.2Moz1 & mine life to 12 years • Throughput capacity 4.5 - 5mtpa (oxide/fresh blend) • LOM production run rate 110,000 – 125,000 ounces pa KGP Prog
Slide 5: Karlawinda Gold Project
Karlawinda Gold Project CAPRICORN METALS LTD
Slide 6: Karlawinda Gold Project metrics
Karlawinda Gold Project metrics Mine type Open pit Plant type 3 stage crushing 7.5MW ball mill CIL processing Throughput 4.0 – 5.0 Mtpa Reserve grade 0.9g/t1 Recovery 92% Strip ratio (w:o) 3.6 Mine life 10-12 years Ore reserves 1.20Moz1 Mineral resources 2.14Moz2 Expected production 110 – 125koz pa
Slide 7: KGP – Strong First Steady State Quarter of Operations
KGP – Strong First Steady State Quarter of Operations Dec21Q Sept 21Q Ore mined (‘000 BCM) 892 602 Waste mined (‘000 BCM) 1,582 1,511 Stripping ratio (w:o) 1.8 2.5 Ore mined (‘000 t) 1,998 1,200 • All key metrics broadly in line with expectations • Throughput run rate 4.6mtpa on oxide/laterite blend
Slide 8: KGP – Cash Build is Real
KGP – Cash Build is Real Gold sales 30,835oz @ $2,397/oz • Spot 19,835oz @ $2,481/oz • Hedges 11,000 @ $2,246/oz Cash $30.0m (Q1: $14.7m) Bank debt • $75m (Q1:$85m) • Q3 scheduled repay $10m • Q4 scheduled repay $10m Net debt 1 • $45.0m (Q1: $70.3m) Dividend policy to be considered in due course for
Slide 9: Bibra Mineral Resource and Ore Reserve Growth
Bibra Mineral Resource and Ore Reserve Growth Ore Reserves 1.2 million ounces • Mine life over 10 years • Strip ratio 3.6 Mineral Resource 2.1 million ounces • Down dip extensions of Reserve • Excellent scope for mine life extension Gold price used: • Reserve A$1,600/oz • Resource A$2,000/oz Tonnes
Slide 10: Inherent Scope for Mine Life and Reserve Extension
Inherent Scope for Mine Life and Reserve Extension Orebody Geometry & Continuity – Resource to Reserve Conversion Geometry & Continuity Optionality Outlook • Shallow vertical depths (vd): • 937,000oz of MRE not yet in Reserve • Decision revolves around gold price and • Reserve 250m • primarily locat
Slide 11: Unlocking the potential of a new gold camp at KGP
Unlocking the potential of a new gold camp at KGP CMM owns 2,042km2 of exploration & mining tenure at KGP (>100km E-W) Limited regional drilling - 97% of drilling within 50km2 (4km radius) area around Bibra deposit Systematic exploration work programme over last 12 months identified geological
Slide 12: Exploration update
Exploration update Near mine exploration success – aim to grow Bibra resource envelope Near Mine Drilling 114 holes for 14,594m over 4 targets Muirfield (4km from Bibra) • 8m @ 6.32g/t from 24m • 4m @ 1.45g/t from 68m • 4m @ 6.44g/t from 92m • 4m @ 1.88g/t from 132m • 12m @ 1.21g/t from 44m Southern
Slide 13: Mt Gibson Gold Project
Mt Gibson Gold Project CAPRICORN METALS LTD
Slide 14: Mt Gibson Gold Project - Background
Mt Gibson Gold Project - Background Located 280km northeast of Perth in the Murchison region of WA. Historical (1986-99) gold production >868koz, 14 pits avg depth 60m Shut down when gold price c A$450/oz & “off the grid” for 30 years. CMM acquired July21, mostly at tenure application stage
Slide 15: Dec21Q update – tenure secured allowing drilling to commence
Dec21Q update – tenure secured allowing drilling to commence • All key mining tenure at MGGP has been granted. • 24 exploration & prospecting licences covering 213 km2. • All resources (2.08Moz) and all current exploration targets are on granted tenure. • Completes CMM acquisition, which at <$20/oz,
Slide 16: Mt Gibson Gold Project – Drilling Underway January 2022
Mt Gibson Gold Project – Drilling Underway January 2022 Orion 3 & 4 Long section & planned drilling First RC hole of 81,000m programme completed capmetals.com.au 16
Slide 17: CMM - a compelling combination of cashflow and growth
Capricorn Metals Ltd Karlawinda Gold Project Long mine life and high margin project Dec21Q - production 30koz, achieving KPI’s & in line with guidance Dec21Q - $40.1m cashflow from operations Minimal spend outside AISC – differentiation from peers Strong cash build to debt repayment/balanc
Slide 18: Mineral Resources
Mineral Resources Notes: 1. Mineral Resources are calculated using a gold price of A$2000/ounce. 2. Mineral Resources are calculated using a cut-off grade between 0.3g/t and 0.4g/t Au. 3. The above data has been rounded to the nearest 100,000 tonnes, 0.1 g/t gold grade and 1,000 ounces. Errors of su
Slide 19: Ore Reserve – Bibra Deposit
Ore Reserve – Bibra Deposit April 2020 Proved Probable Total Ore Reserve Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes Deposit Type Cut-Off Grade Metal Grade Metal Grade Metal (Mt) (Mt) (Mt) (g/t) (koz) (g/t) (koz) (g/t) (koz) Bibra Open Pit 0.3 < - - - 39.0 0.9 1,090 39.0 0.9 1,090 Southern Co
Slide 20: Capricorn Metals Ltd (ASX: CMM)
Capricorn Metals Ltd (ASX: CMM) Level 1, 28 Ord Street West Perth, WA enquiries@capmet.com.au +61 8 9212 4600 www.capmetals.com.au ABN: 84 121 700 105
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