Vault Minerals Limited · ASX:VAU
Vault Minerals — Red 5 — Diggers & Dealers Mining Forum 2023
27 slides from Vault Minerals's conference presentation, Aug 9, 2023
Slide 1: Diggers and Dealers presentation
For personal use only Diggers and Dealers presentation Mark Williams 9 August 2023 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence
Slide 2: Competent Person's Statement and Disclaimer
Competent Person’s Statement and Disclaimer Competent Person Statements for JORC 2012 Mineral Resource and Ore Reserves ● The information in this presentation that relates to the Mineral Resources for the King of the Hills deposit is extracted from the ASX announcement titled “Mineral Resource and O
Slide 3: Red 5 Limited – introduction
Red 5 Limited – introduction Red 5’s assets comprise the King of the Hills (KOTH) Gold Mine, Darlot Gold Mine and a 3.25% net smelter royalty over the Siana Gold Mine Share price at 2 August 2023 A$0.185 For personal use only Shares issued at 2 August 2023 3,459M Market capitalisation at 2 August 20
Slide 4: KOTH geology is well understood - open in all directions
KOTH geology is well understood - open in all directions Jun-22 Mineral Resource1 Jun-22 Ore Reserve1 105.5Mt @ 1.4 g/t for 70.2Mt @ 1.2 g/t for For personal use only 4.75Moz Au 2.66Moz Au ● Orebody in the contact zone of a substantial Granodiorite intrusion ● 4km long x 2km wide ● Historical unders
Slide 5: June Quarter highlights – upper end of production guidance
June Quarter highlights – upper end of production guidance Quarterly 12-month TRIFR ● No recordable injuries for the quarter 20 ● Continued safety improvement, with 12-month TRIFR For personal use only 16 reducing to 9.0 from 15.5 quarter on quarter 12-month TRIFR 12 ● 61,705oz of gold produced for
Slide 6: SAG mill – throughput now up to 5.5Mtpa (nameplate 4Mtpa)
SAG mill – throughput now up to 5.5Mtpa (nameplate 4Mtpa) For personal use only www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 6
Slide 7: Site is powered by 30MW hybrid gas-solar power station
Site is powered by 30MW hybrid gas-solar power station For personal use only www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 7
Slide 8: KOTH village – room capacity
KOTH village – 380 room capacity For personal use only www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 8
Slide 9: Mining performance for June 2023 Quarter
Mining performance for June 2023 Quarter Quarterly KOTH underground performance ● February 2023 was inflection point for project, with 1.70 mining commencing on the primary ore body in the 300 1.58 1.80 1.40 For personal use only open pit 250 1.50 200 1.01 1.20 t ('000s) ● All three mines are perfor
Slide 10: Main ore zone provides for large, contiguous high-grade blocks
Main ore zone provides for large, contiguous high-grade blocks Stage 1 KOTH open pit Ore Reserve model - contained ounces by RL RL HG LG For personal use only 5295 5285 5275 5265 5255 5245 5235 5225 5215 5205 5195 5185 5175 5165 5155 5145 5135 100m 5125 5115 5105 5215M Bench F4 - 5,000 10,000 15,000
Slide 11: Gaining clarity and confidence in long term mine plan
Gaining clarity and confidence in long term mine plan ● KOTH Process Plant expected Production AISC Growth to operate at 5.5Mtpa and be (koz) (A$/ounce) (A$m) fed by: For personal use only FY24 guidance 195-215 1,850-2,100 40-46 ● KOTH OP mine ● KOTH UG mine ● Darlot UG satellite mine ● All three mi
Slide 12: Long-term growth potential for KOTH Underground mine
Long-term growth potential for KOTH Underground mine1 ● KOTH Underground now performing to expectations For personal use only ● Resource definition and grade control drilling continues to deliver high- grade assays ● 26.0m at 168.15g/t ● 16.5m at 16.50g/t ● 16.4m at 10.62g/t ● 29.5m at 5.11g/t ● 75.
Slide 13: Darlot adds significant value as satellite mine to KOTH
Darlot adds significant value as satellite mine to KOTH ● Darlot benefiting from development investment and significant reduction in cost base For personal use only ● Second jumbo scheduled in 2H FY24 ● FY24 concentrating on Resource conversion Middle Walters South1 ● 6.0m at 71.4g/t ● 3.4m at 42.5g
Slide 14: KOTH is the "King of the Mills" in the Leonora district
KOTH is the “King of the Mills” in the Leonora district ● KOTH process plant is the lowest Regional process plants – mill size, unit cost and distance to Leonora cost mill in the Leonora district ● Processing cost of A$14/t1 60 For personal use only ● Large mill drives site-wide economies of scale 5
Slide 15: Standout value opportunity with steady-state operations
Standout value opportunity with steady-state operations ● The new KOTH Gold Mine Red 5 Enterprise Value / Ore Reserve relative to its peers positions Red 5 as an emerging mid-tier Australian gold producer For personal use only 1,500 ● Valuation of WA based-gold Bellevue companies1 1,200 Bubble size
Slide 16: THANK YOU
For personal use only THANK YOU Level 2, 35 Ventnor Avenue, West Perth, Western Australia 6005 Australia (61-8) 9322 4455 (61-8) 9481 5950 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 17
Slide 17: Appendices
For personal use only Appendices www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 18
Slide 18: Leadership Team with strong mining expertise
Leadership Team with strong mining expertise Red 5 has a strong and capable team, with many years of mining and development experience both at Red 5 and previously at multi- billion international development projects. Red 5 is undergoing a formal process to renew the composition and succession of th
Slide 19: KOTH Mineral Resource of 4.75Moz
KOTH Mineral Resource of 4.75Moz1 Total Open Pit & Underground KOTH Resource as at June 2022 For personal use only Cut-off Mining Gold Contained Gold Classification Tonnes (000t) (g/t) Method (g/t) (000oz) Measured 0.4-1.0 OP+UG 1,330 1.2 50 Indicated 0.4-1.0 OP+UG 72,880 1.4 3,250 Inferred 0.4-1.0
Slide 20: KOTH Ore Reserve of 2.7Moz
KOTH Ore Reserve of 2.7Moz1 Total KOTH Ore Reserves as at June 2022 Cut-off JORC 2012 Tonnes Gold Contained Gold Deposit Mining Method For personal use only (g/t) Classification (Mt) (g/t) (Moz) KOTH Open pit 0.4 Probable 63.3 1.2 2.4 KOTH Underground 1.3 Probable 2.8 2.0 0.2 Rainbow Open pit 0.4 Pr
Slide 21: KOTH diamond drill results enhance FY23 and FY24 mine plan
KOTH diamond drill results enhance FY23 and FY24 mine plan1 Growth opportunity under the South Pit final shell once fully dewatered Regal and Eastern For personal use only Flank ● 10m at 79.62g/t ● 62m at 6.33g/t ● 24.5m at 14.07g/t ● 6.8m at 35.06g/t Central ● 3.4m at 49.4g/t ● 29.6m at 3.48g/t ● 3
Slide 22: KOTH 5-year UG Mine Plan is only constrained by drilling
KOTH 5-year UG Mine Plan1 is only constrained by drilling For personal use only 1. Red 5 ASX Release: 7 September 2022 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 23
Slide 23: KOTH Exploration – Numerous Surface Targets
KOTH Exploration – Numerous Surface Targets ● Three satellite deposits are already in the LOM plan: ● Rainbow For personal use only ● Centauri ● Cerebus-Eclipse ● Integrated datasets have identified priority targets along the Tarmoola and Ursus Fault corridors ● Tarmoola Fault Corridor ● Poorly test
Slide 24: Darlot drilling results identified potential to upgrade Resource
Darlot drilling results identified potential to upgrade Resource1 Darlot UG mine retains significant option value with potential at-depth in a higher gold price environment Middle Walters South1 For personal use only ● 6.0m at 71.4g/t ● 3.4m at 42.5g/t ● 31.1m at 5.8g/t Centurion Lode1 ● 1.1m at 1,5
Slide 25: Top Gold Deposits in Australia
Top 20 Gold Deposits in Australia Resources Reserves Mt g/t Moz Mt g/t Moz Cadia 3374.0 0.4 37.6 Cadia 1280.0 0.4 17.4 For personal use only Golden Mile - KCGM 545.9 1.6 27.4 Golden Mile – KCGM 280.9 1.3 11.9 Boddington 838.3 0.6 16.4 Boddington 558.3 0.7 11.6 Mallina Gold Project 250.7 1.3 10.6 Tan
Slide 26: Australian Top Gold Deposits
Australian Top 20 Gold Deposits1 Resources Reserves Resources Reserves Resources Reserves Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Cadia Newcrest St Ives Goldfields Sunrise Dam AngloGold Measured 32.0 0.30 0.3 Proven Measured 2.8 4.75 0.4 Proven 1.8 5.04 0.3 Measured Proven
Slide 27: THANK YOU
For personal use only THANK YOU Level 2, 35 Ventnor Avenue, West Perth, Western Australia 6005 Australia (61-8) 9322 4455 (61-8) 9481 5950 www.red5limited.com Our CORRE Values: Courage, Ownership, Respect, Reliability, Excellence Page: 28