Catalyst Metals Limited · ASX:CYL
Catalyst Metals — Merger or Acquisition (March 2023)
36 slides from Catalyst Metals's merger presentation, Mar 2, 2023
Slide 1: Plutonic-Marymia Gold Belt Consolidation
Plutonic-Marymia Gold Belt Consolidation March 2023 ASX:CYL | catalystmetals.com.au
Slide 2: Important Notices
Important Notices IMPORTANT NOTICE AND DISCLAIMER This investor presentation (the Presentation) is dated 2 March 2023. It has been prepared by Catalyst Metals Limited (ASX: CYL) (Catalyst or the Company). SUMMARY INFORMATION This Presentation contains summary information about Catalyst and Superior
Slide 3: Disclaimer
Disclaimer FUTURE PERFORMANCE AND FORWARD-LOOKING STATEMENTS This Presentation contains certain “forward-looking statements”. The words “expect”, “anticipate”, “estimate”, “intend”, “believe”, “guidance”, “should”, “could”, “may”, “will”, “predict”, “plan” and other similar expressions are intended
Slide 4: Compliance Statements
Compliance Statements MARYMIA EXPLORATION RESULTS AND MINERAL RESOURCE ESTIMATES Full details of the Exploration Results and Mineral Resource estimate for the Marymia Gold Project contained in this Presentation are provided in Catalyst’s ASX announcement dated 20 February 2023 (as updated on 22 Febr
Slide 5: 1. Introduction
1. Introduction
Slide 6: Creating a New Mid-Cap Gold Producer
Creating a New Mid-Cap Gold Producer Multi-asset production in world class belts Plutonic-Marymia Gold Belt Australian Gold Fields 1. Enhanced • Multiple assets reduces risk profile Strategic Position • Potential synergies across portfolio • Positioned in multi million-ounce gold belts 2. Strengthen
Slide 7: Creation of a Leading Junior Australian Gold Producer
Creation of a Leading Junior Australian Gold Producer Consolidation delivers control of high-grade gold belt and leverages Catalyst’s expertise Has entered into an agreement to acquire Superior Gold Inc Transaction (TSXV:SGI) Overview Catalyst acquired the Marymia Project through its successful
Slide 8: Plutonic-Marymia Gold Belt
1 1 Plutonic-Marymia Gold Belt 1 A world class gold belt (1) Catalyst ASX announcement dated 20 February 2023 Marymia Gold Project Mineral Resource; (2) Superior Gold Inc 2022 Mineral Resource and Reserve Estimate for the Plutonic Gold Operations 5 July 2022; ASX:CYL 8 ASX:CYL 8
Slide 9: Creation of a Leading Junior Australian Gold Producer
Creation of a Leading Junior Australian Gold Producer Attractive metrics & exploration upside in the Plutonic Gold Belt Hub & Better leveraging existing Infrastructure; lower +7Moz Historical Production1 Spoke risk 5.9Moz + Current JORC2 & NI 43-101 Resources3 3Mtpa Underutilised Processing Plant +1
Slide 10: Superior Acquisition Overview
Superior Acquisition Overview Attractive all scrip acquisition, unanimously recommended by the Superior Board Catalyst and Superior Gold have agreed to merge via a Canadian Plan of Arrangement Overview Unanimously recommended by Superior’s Board (“Transaction”) Superior Board members intend to
Slide 11: Strong Experienced Team
Strong Experienced Team Proven capabilities across exploration, mining and corporate Board of Directors Management Stephen Boston James Champion de Crespigny John McKinstry Donna Thornton Non-Executive Chairman Managing Director & CEO Chief Operating Officer Chief Financial Officer • Chairman since
Slide 12: 2. Overview – Plutonic-Marymia Gold Belt
2. Overview – Plutonic-Marymia Gold Belt ASX:CYL 12
Slide 13: Plutonic-Marymia Gold Belt Snapshot
Plutonic-Marymia Gold Belt Snapshot Hub & Spoke Approach – Pairing existing infrastructure with nearby high grade ore sources Located ~160km south of Newman, Western Australia Overview FIFO Continuous production since 1990 (>7Moz Au)1 Underground Operations at Plutonic underground ~800ktpa O
Slide 14: Plutonic-Marymia Gold Belt – History
Plutonic-Marymia Gold Belt – History Historical owners demonstrate good foundations but with lack of attention/capital Resolute Mining / Production Plutonic Resources Gold Price (koz) (A$/oz) No exploration 400koz Non-Core Operation No high-grade ore sources $3,000/oz 350koz Gold Price now $2,500/oz
Slide 15: Historical Challenges & Strategy to Unlock Value
Historical Challenges & Strategy to Unlock Value Catalyst understands Superior and Vango’s historic challenges and has a clear, actionable strategy to create immediate and long term value Historical Key Challenge Catalyst Learnings & Strategy • Lower underground mining rate results in higher grade,
Slide 16: Catalyst Production Pipeline
Catalyst Production Pipeline Three key pillars to drive and unlock future production In Mine Near Mine Regional (<12 months) (6 months – 2 years) (2+ years) Building inventory Advanced, high grade, exploration Regional exploration – 24 historical projects open pits and 25km of untested strike • Timo
Slide 17: A Significant Gold Belt Hosting Tier 1 Deposits
A Significant Gold Belt Hosting Tier 1 Deposits Plutonic’s Timor Deposit produced +800koz at 7.5g/t1 • Provided large baseload of material, underwriting +150koz • Vertical orebody allowing for low-cost mining of annual production for +10 years • All infrastructure in place to recommence both mining
Slide 18: Plutonic Resources – 5.9Moz at 3.7g/t Au
Plutonic Resources – 5.9Moz at 3.7g/t Au1 1. Superior Gold Inc 2022 Mineral Resource and Reserve Estimate for the Plutonic Gold Operations 5 July 2022 and Superior Gold Inc, February 2022 Corporate Presentation, Catalyst ASX announcement 24 February 2023 Catalyst to Acquire Plutonic Gold Mine ASX:CY
Slide 19: Trident
Trident Marymia’s flagship project • Resource of 410koz at 8g/t1 • Opportunity to optimise drilling • Still open in all directions • PFS completed but remains underexplored 2,3,4 1. Catalyst ASX announcement dated 20 February 2023 Marymia Gold Project Mineral Resource ASX:CYL 19
Slide 20: Near Mine Exploration – K2
Near Mine Exploration – K2 • Historically mined open pit • Attractive intersections at depth and along strike from existing pit • Remains open, with significant undrilled potential • Well maintained haul road from K2 to Plutonic provides ready access and quick development pathway 1. Catalyst ASX ann
Slide 21: Near Mine Production Potential – Salmon
Near Mine Production Potential – Salmon Open Pit Target – obvious opportunity for synergies • Historical open pit on Plutonic / Marymia border RC drilling from 1990’s return significant gold intercepts that require follow up investigation in this higher gold • Historical production of 192koz2 during
Slide 22: Regional Exploration – Drill Density at Depth
Regional Exploration – Drill Density at Depth Trident only visible under 100m Plutonic visible under 100m • Minimal drilling > 100m • Deposits on gold belt only appear >100m • 7Moz past production1, 5.9Moz2 (NI 43-101 Resource) + 1Moz (JORC Resource)3 • Hosts attractive deposits (Timor Zone producti
Slide 23: 3. Catalyst Post Consolidation
3. Catalyst Post Consolidation
Slide 24: Highly Prospective & Strategic Portfolio
Highly Prospective & Strategic Portfolio Three complementary high grade gold projects with belt scale Plutonic-Marymia Henty Bendigo • Plutonic Gold Mine & Hermes (SGI 100%) Key Projects Project Henty Gold Mine (CYL 100%) Four Eagles (Flagship – CYL 50%), Tandarra (CYL • Marymia6 Key Projects 51%) &
Slide 25: Attractive Pro-Forma Capital Structure
Attractive Pro-Forma Capital Structure Strong platform for growth and re-rating Catalyst Superior Catalyst Pro-Forma (post Compulsory Acquisition of Vango)1,3 Share Price / Offer Price $1.2051 $0.435 $1.2051 Shares on Issue 153.2m 125.1m 198.0m Market Capitalisation $184.6m $54.0m $238.6m % sharehol
Slide 26: Standout Resource Base
Standout Resource Base Large and high-grade resource relative to peers Resource Grade (g/t) 4.50g/t 1,3 NI 43-101 Resource 4.00g/t Significant Re-Rating Potential Bubble Size = Contained Resource 3.50g/t NI 43-101 Compliant Resource 2,3 3.00g/t JORC Resource 2.50g/t 2.00g/t 1.50g/t 1.00g/t 0.50g/t -
Slide 27: Significant Re-Rating Potential
Significant Re-Rating Potential Differentiated resource and valuation to peers supports significant re-rating potential Resource (Moz) Grade (g/t) EV/Resource ($/oz) 1 7.9Moz NI 43-101 Resource 3.70g/t $354/oz 1 Enlarged Pro-Forma JORC3 NI 43-1014 7.3Moz 3.40g/t $162/oz 2 2,3 6.2Moz 3.40g/t $128/oz
Slide 28: Significant Re-Rating Potential
Significant Re-Rating Potential Catalyst’s operational improvements and enhanced capital focus and investor appeal supports significant re-rating upside Enterprise Value (A$m) & Grade (g/t)) Gold Hubs 3 1 1 2 3 1 3 1 1 2 1 1 3 1 1 (#) Potential to re-rate based on peer average $549m EV/Resource mult
Slide 29: 4. Appendices
4. Appendices
Slide 30: Portfolio Snapshot – Henty
Portfolio Snapshot – Henty EL8/2009 mN Lakeside Roseberry Mine Operating Gold Mine - Tasmania Lorrigan’s Luck Sterling Valley ORDOVICIAN • World class mineral province Large, underexplored Wurawina Group tenement holding (25km strike) CAMBRIAN Moxon Tyndall Group ML7M/1991 Red Hills Block Henty Fa
Slide 31: Demonstrated Resource Growth under Catalyst
Demonstrated Resource Growth under Catalyst Reinvesting in Resource development Resource Depletion1 Private Ownership Resource Growth2 • Resource growth has been ‘near mine’ • Ongoing exploration targeting new (2015-2020) Resource in virgin 36 368 areas 343 (44) 43 357 (25) 334 (20) (3) 296 (38) 24
Slide 32: Bendigo Goldfields – Proven Gold Field at +22Moz
Bendigo Goldfields – Proven Gold Field at +22Moz High grade, highly concentrated mineral endowment • Most advanced exploration project in Bendigo/Fosterville area • Fosterville’s Swan Zone – 2.3Moz @ 50g/t1 • Control entire gold belt Catalyst Landholding and Bendigo projects Note 1: Fosterville-Gold
Slide 33: Four Eagles Gold Project
Four Eagles Gold Project Multiple recurring high-grade zones in close proximity • Scale of discovery can fit Bendigo-sized goldfield • Catalyst’s most advanced exploration project in Victoria • Continuously recurring high- grade gold zones in close proximity to one another • Tunnel development targe
Slide 34: Boyd's Dam Prospect (Part of Four Eagles Gold Project)
Boyd’s Dam Prospect (Part of Four Eagles Gold Project) Maiden Resource pending • Bendigo Goldfield produced 22Moz1 of gold from high-grade quartz reefs stacked upon one another • These high-grade reefs continuously repeat themselves at depth, ie. recurring mineralization • Newly discovered Iris Zone
Slide 35: Corporate Overview
Corporate Overview ASX Code Share Price (LTM) Share Price (1 Mar 2023) $1.205 $2.40 100% of Drummartin Project Secured Shares on Issue 148.7m Managing Director Compulsory Appointment Acquisition of Vango $2.00 Market Capitalisation $179.2m Bendigo exploration Tunnel Approval Cash (31-Dec-22) $18.1m
Slide 36: Appendix A: Detailed Peer Data
Appendix A: Detailed Peer Data Measured Indicated Inferred Development Market Cap Cash Debt Enterprise Value Contained Au Grade Contained Au Grade Contained Au Grade Ticker Company ASX Announcement Stage (A$m) 1 (A$m) 2 (A$m) 2 (A$m) 1 (koz) 3 (g/t) 3 (koz) 3 (g/t) 3 (koz) 3 (g/t) 3 ALK Alkane Resou