Gorilla Gold Mines Ltd · ASX:GG8
Gorilla Gold Mines — Investor Presentation (November 2024)
38 slides from Gorilla Gold Mines's investor presentation, Nov 20, 2024
Slide 1: Labyrinth Resources Limited
Labyrinth Resources Limited (ASX: LRL) Execution of Mulwarrie consolidation from Genesis Minerals and Capital Raising 20 November 2024 Not for release to US wire services or distribution in the United States 1
Slide 2: Disclaimer
Disclaimer Nature of Document: This presentation has been prepared and issued by Labyrinth Resources Limited (Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representation of any
Slide 3: Labyrinth strategy
Labyrinth strategy Grow and consolidate underexplored high grade gold mines in the Eastern Goldfields of WA ▪ Drill high grade gold projects in WA’s world class gold corridor ▪ Granted mining lease tenure with proximity to gold mills ▪ Pursue accretive acquisitions that complement this strategy ▪ In
Slide 4: Acquisition of the High Grade Mulwarrie Gold Project
Acquisition of the High Grade Mulwarrie Gold Project Execution of Mulwarrie consolidation │ 10km from Ora Banda infrastructure │55km from Comet Vale ✓ Labyrinth to acquire 100% of the Mulwarrie Gold Project located in the Eastern Goldfields, from Genesis Minerals ✓ Labyrinth is acquiring Mulwarrie f
Slide 5: Mulwarrie Gold Project
Mulwarrie Gold Project Labyrinth is acquiring Mulwarrie for the exceptional high grade growth potential historically constrained by tenure 5
Slide 6: Mulwarrie Gold Project
Mulwarrie Gold Project On granted MLs │ Multiple high grade opportunities ▪ Labyrinth has secured tenements that surround the western boundary of Mulwarrie Central from Olympio Metals Limited via a call option ▪ The Company is excited to test extensions to historical drill intercepts such as: ▪ 5 m
Slide 7: Mulwarrie Gold Project
Mulwarrie Gold Project Strategic addition of shallow ounces near regional milling infrastructure │ High grade growth upside 7
Slide 8: Mulwarrie Gold Project
Mulwarrie Gold Project Unexplored regional exploration upside │Near surface opportunities along 2km of strike 8
Slide 9: Portfolio of High Grade Gold Assets in WA
Portfolio of High Grade Gold Assets in WA The acquisition of Mulwarrie builds upon Labyrinth’s strategy to explore and acquire high-grade gold projects Comet Vale Vivien and Vivien Gem Mulwarrie 51% LRL with call option to acquire remaining 49% 100% LRL 100% Labyrinth, subject to completion Eastern
Slide 10: Corporate Overview
Corporate Overview Capital structure1 Units Current LRL Share Price – Last 12 Months ($/sh) 0.350 Ordinary shares m 444.2 0.300 Share price (15 Nov 24) $/sh 0.25 0.250 Market capitalisation $m 111.0 0.200 0.150 Cash & investments $m 2.5 0.100 Unlisted Options m 9.0 0.050 - Performance Rights m 26.0
Slide 11: Track Record of Creating Value through Exploration
Track Record of Creating Value through Exploration Labyrinth directors and management have a successful track record in acquiring and exploring highly prospective projects Market Capitalisation (A$m) during tenure of LRL team Simon Lawson Alex Hewlett Kelvin Flynn Spartan Managing Director (Nov 2021
Slide 12: Mulwarrie Acquisition Terms & Capital Raising Overview
Mulwarrie Acquisition Terms & Capital Raising Overview 12
Slide 13: Mulwarrie Acquisition Terms
Mulwarrie Acquisition Terms ▪ Labyrinth has entered into a binding term sheet with Bardoc Gold Pty Ltd, a wholly owned subsidiary of Genesis Minerals Limited (ASX: GMD) (“Genesis”), to acquire a 100% interest in Admiral Gold Pty Ltd which owns 100% of the Mulwarrie Project (“Mulwarrie” or the “Proje
Slide 14: Equity Raising Overview
Equity Raising Overview ▪ Labyrinth is conducting a placement of approximately 92.86 million fully paid ordinary shares to institutional and sophisticated investors, to raise approximately $19.5m (“Placement” or “Offer”) ▪ The Placement will utilise the Company’s available placement capacity under L
Slide 15: Sources and Uses
Sources and Uses Sources of Funds A$m Exploration and Drilling – $14.0m ▪ Comet Vale: RC drilling ongoing out to December 2024. Existing Cash (31-Oct-24) 2.5 Additional diamond drill rig planned to arrive in December Offer 19.5 ▪ Vivien: Plan to drill in late Q1/Q2 CY25 following heritage and drilli
Slide 16: Pro-Forma Capital Structure
Pro-Forma Capital Structure LRL Pro-forma Pro-forma capital LRL Pro-forma Current LRL (after Mulwarrie Acquisition and structure1,2,3,4 (after Placement) Placement) Offer Price ($/sh) 0.21 0.21 0.21 No. of Ordinary Shares (m) 444.2 542.0 559.9 Market Capitalisation ($m) 93.3 113.8 117.6 Estimated Ca
Slide 17: Indicative Timetable
Indicative Timetable Key Event Indicative Dates1 Settlement of New Shares under the Placement (excluding Director Tuesday, 26 November participation shares) Allotment and Trading of New Shares (excluding Director participation Wednesday, 27 November shares) Completion of Mulwarrie Acquisition Late N
Slide 18: Upcoming activities
Upcoming activities Workstream Nov-24 Dec-24 Q1 CY25 Q2 CY25 Continued RC drilling at Comet Vale Diamond drilling planned at Comet Vale Drilling results from Comet Vale Vivien heritage and drilling approvals Start drilling at Vivien Completion of Mulwarrie Acquisition Mulwarrie drilling approvals St
Slide 19: Comet Vale Project
Image: historic Comet Vale ore drive (6m width) Comet Vale Project: Exceptional high grade historic gold mine with regional scale upside 19
Slide 20: Comet Vale – Overview
Comet Vale – Overview High grade historical production │ Multiple high grade opportunities │ Open high grade mineralisation ▪ Located 32km south of Menzies next to the Goldfields Highway ▪ Granted mining leases ▪ Existing JORC MRE of 96koz at 4.8g/t (100% basis) ▪ Reconsolidation of 100% ownership o
Slide 21: Comet Vale – Sovereign trend
Comet Vale – Sovereign trend High grade historical production │ Multiple high grade opportunities │ Open high grade mineralisation ▪ >90% of drilling focused on this corridor ▪ Mining has been undertaken in multiple different phases over 100+ years with historical production of >200,000oz Au at >20g
Slide 22: Comet Vale – Cheer trend
Comet Vale – Cheer trend Multiple high grade opportunities │ Compelling historical drilling │ Encouraging initial results ▪ 2km strike of under explored mineralised shear zone ▪ Cheer prospect historically constrained to a 2.40ha mining lease that has since been consolidated ▪ Notable historical int
Slide 23: Comet Vale – Lake View trend
Comet Vale – Lake View trend Multiple high grade opportunities │ Extensive historic workings │ Under explored ▪ 6km strike of mineralised shear zone ▪ Lakeview trend has over 45 historical turn of the century mine shafts along the shear with very limited drilling or modern exploration activity ▪ Onl
Slide 24: Comet Vale – drilling update
Comet Vale – drilling update Initial results from Cheer confirmed an extended shallow, high grade gold mineralisation ▪ Drilling at Cheer prospect has confirmed an extended shallow, high grade gold mineralisation ▪ Notable Cheer intercepts include ▪ 3m @ 26.8 g/t Au from 51m ▪ 8m @ 9.7 g/t Au from 1
Slide 25: Vivien Gold Project
Image: Vivien Gold Project Vivien Gold Project: High grade and profitable historic gold mine with excellent exploration upside 25
Slide 26: Vivien – Location
Vivien – Location 15km west of Leinster in WA│ 6km from Gold Fields Agnew Mine │Large Mining Lease package 26
Slide 27: Vivien – Overview
Vivien – Overview Large Mining Lease package │ History of profitable production │ Significant resource upside ▪ Historical high grade open cut and underground gold mine ▪ Vivien was acquired by Ramelius in 2013 from Gold Fields at a cost of $10 million and, over its life, generated net cash flows of
Slide 28: Vivien – Vivien Main
Vivien – Vivien Main Exploration to test the foot wall or along strike positions to Vivien main lode ▪ Focus of previous owners was limited to following the Vivien main and Vivien east lodes ▪ Significant upside exists in footwall and hanging wall positions to Vivien Main as well as near surface alo
Slide 29: Vivien – Gem prospect
Vivien – Gem prospect High grade prospect from surface with attractive geometry ▪ ~2.5km north of Vivien Main / previous mining area ▪ 4.5km strike of under explored mineralised structures ▪ Gem and other regional prospects have significant historical drill intercepts ▪ 6m @ 6.7 g/t Au from 24m in E
Slide 30: Labyrinth Gold Project
Image: Labyrinth Gold Project Labyrinth Gold Project: High grade deposit with low annual holding costs making the asset a low-cost option on further exploration success 30
Slide 31: Labyrinth Gold Project – Canada
Labyrinth Gold Project – Canada (100% LRL) Existing 500koz at 5.0 g/t represents a low cost option on further exploration success ▪ 100% owned project located in Quebec Canda ▪ Located in the world-class Abitibi gold belt ▪ JORC of 500koz at 5.0g/t (100% basis) ▪ Approved mining lease ▪ Resource is
Slide 32: Labyrinth Gold Project – Canada
Labyrinth Gold Project – Canada (100% LRL) The Resource is open in all directions, supporting substantial Mineral Resource growth potential through both near mine and regional drilling 32
Slide 33: Appendix
Image: Comet Vale Appendix 33
Slide 34: Mineral Resources – Comet Vale
Mineral Resources – Comet Vale Existing total JORC Resource at Comet Vale of 96koz at 4.8g/t (100% basis) Table 1: Comet Vale March 2023 Depleted Open Pit Resource (Au>=0.5g/t OP) Comet Vale March 2023 Depleted Open Pit Resource (Au>=0.5g/t OP) Category Tonnage (Mt) Au Grade (g/t) Au Ounces Indicate
Slide 35: Mineral Resources – Labyrinth Gold Project
Mineral Resources – Labyrinth Gold Project Existing 500koz at 5.0 g/t and represents a low-cost option on further exploration success Table 1: Labyrinth Mineral Resource Estimate Summary by Lode Inferred Lode Tonnage (Mt) Au Grade (g/t) Au Ounces Boucher 1.0 5.7 190,000 McDowell 1.0 4.5 150,000 Talu
Slide 36: Mineral Resources – Mulwarrie Gold Project
Mineral Resources – Mulwarrie Gold Project Existing total JORC Resource at Mulwarrie of 79koz at 2.8g/t Table 1: Mulwarrie Mineral Resource Estimate Summary Mulwarrie Mineral Resource Estimate Summary (0.5g/t cut-off) Category Tonnage (Mt) Au Grade (g/t) Au Ounces Inferred 0.88 2.8 78,700 Total 0.88
Slide 37: Labyrinth – Mineral Resources
Labyrinth – Mineral Resources Table 1: Labyrinth – Mineral Resource1,2 Measured Indicated Inferred Total Au Tonnage Au Tonnage Au Grade Au Tonnage Au Grade Au Tonnage Au Grade Au Category Grade (Mt) Ounces (Mt) (g/t) Ounces (Mt) (g/t) Ounces (Mt) (g/t) Ounces (g/t) Comet - - - 0.18 4.3 25,500 0.19 2
Slide 38: Contact: Charles Hughes CEO
Contact: Charles Hughes CEO admin@labyrinthresources.com www.labyrinthresources.com.au 38
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