Caravel Minerals Limited · ASX:CVV
Caravel Minerals — Shareholder Meeting (November 2019)
20 slides from Caravel Minerals's shareholder meeting presentation, Nov 22, 2019
Slide 1: Caravel Minerals Annual General Meeting
For personal use only Caravel Minerals Annual General Meeting 21 November 2019
Slide 2: Disclaimer
Disclaimer Cautionary Statement For personal use only This presentation has been prepared by Caravel Minerals (“Caravel”) to assist in informing interested parties about the Company and its progress. It should not be considered as an offer or invitation to subscribe for or purchase any securities in
Slide 3: Corporate overview
Corporate overview Capital structure CVV share price performance (1 year) For personal use only ASX ticker CVV Share price (19 November 2019) 4.0c Shares on issue 197M Unlisted options (6.8c-10c strike) 19M Market capitalisation (undiluted) $7.9M Cash (31 October 2019) $0.8M Ownership Analysis Debt
Slide 4: A WA company pioneering discovery and development
A WA company pioneering discovery and development • CARAVEL Minerals ASX-listed (CVV) exploration and development company For personal use only • Prospective area located just 150kms from Perth with well-established infrastructure and workforce • Dominant mineral title position with exploration lice
Slide 5: New copper mines becoming rare
New copper mines becoming rare For personal use only • Few new proposed copper mines • Lower-grades globally • Higher risk jurisdictions • Higher infrastructure costs for services • Higher-strip ratios with higher cost operating models • More impurities, making treatment more difficult • More demand
Slide 6: Geology & Exploration
Geology & Exploration • Deformed Archean porphyry copper For personal use only • Amenable to open pit bulk mining • Fresh mineralisation below 10-50m of leached profile • Situated within 30km long regional copper trend • Chalcopyrite associated with quartz veins • Grade determined by frequency and w
Slide 7: Exploration FY19
Exploration FY19 Field work focussed on the Bindi and Dasher prospects For personal use only • Seven Diamond Drill (DD) holes (1,098m) • Targeting zones of better mineralisation to improve understanding on controls on mineralisation • Detailed structural information prompted revised interpretation o
Slide 8: WA's largest undeveloped copper resource
WA’s largest undeveloped copper resource 32% Increase (by contained copper @0.15% Cu cut-off) to 1.86Mt from 2016 Resource For personal use only
Slide 9: WA's largest undeveloped copper resource
WA’s largest undeveloped copper resource For personal use only
Slide 10: With more potential to grow
With more potential to grow • Bindi deposit For personal use only • Open at depth • East & west limbs remain open to south • High probability further drilling would identify additional mineable resources at Bindi • Dasher deposit • Open at depth and to west, footwall zone potential to add significan
Slide 11: Mining
Mining • Mining study carried out by Oreology assuming contract mining For personal use only • Pit optimisation carried out to quantify potential mining inventories within pit shells • Mining would commence at Bindi followed by Dasher in later years • Propose 10m benches with 5m flitch heights • Goo
Slide 12: Simple metallurgy supports low-cost operating model
Simple metallurgy supports low-cost operating model • Chalcopyrite, Molybdenite mineralisation For personal use only • Comminution and flotation tests have been carried out on composite samples • High flotation recoveries • Very low reagent usage • Very fast float times
Slide 13: Simple process flowsheet
Simple process flowsheet • Lowest cost option uses proven technology with For personal use only further cost optimisation potential • Standard crush, grind, float flowsheet • Gyratory Primary • Secondary Cone Crushing • High Pressure Grinding Roll (HPGR) • Copper and Moly flotation circuit • Concent
Slide 14: Smelters seeking new supply clean copper concentrate
Smelters seeking new supply clean copper concentrate… Element Caravel Concentrate¹ Cu (%) ~25% For personal use only As (%) <0.01 Copper’s worldwide Bi (%) 0.01 problem is declining China has mandated a concentrate quality maximum arsenic Cd (ppm) <5 product, but with CARAVEL content of 0.5% Cl (%)
Slide 15: Potential to capture massive locational advantages
Potential to capture massive locational For personal use only advantages • Simple open-pit bulk mining proposition 150km from Perth • Access to grid power at low cost from SW Grid and existing line from Moora to Wongan Hills • Good road access to two established export ports suitable for concentrate
Slide 16: Environment and Approvals
Environment and Approvals For personal use only • Project located on freehold cropping farmland – 92% cleared • Baseline environment surveys commenced • Mining Lease application to be prepared in line with project definition • Yued Native Title part of South West Native Settlement
Slide 17: Stakeholders and Social Sustainability
Stakeholders and Social Sustainability • Wide consultation with key stakeholders For personal use only • Land access agreements with landowners • Excellent exploration access – since early 2000s • Skilled regional workforce • Shires and town support growth and diversification • ~500 construction job
Slide 18: Feasibility work progress
Feasibility work progress Project feasibility studies completed, commenced and progressed: For personal use only Feasibility Level Study Area Advisors Scoping PFS DFS Geology MRG/Caravel Resources Trepanier Geotechnical Dempers & Seymour Mining Orelogy/MSP Metallurgy Aurifex/ALS/MSP Proces
Slide 19: Future work – Caravel Copper Project
Future work – Caravel Copper Project • Build on positive results from 2019 Scoping Study For personal use only • Progress to Pre-Feasibility Study, Definitive Feasibility Study • Seeking funding / potential partnerships • Advisors appointed to identify parties and facilitate • Strategic funding disc
Slide 20: Caravel Copper Project
Caravel Copper Project • WA’s largest undeveloped copper project For personal use only • Large-scale, long-life project in close proximity to high-quality infrastructure • Mineral Resource (0.15% cut-off) 662Mt at 0.28% Cu, for 1.86Mt contained Cu • Recently completed Scoping Study confirms viabilit
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