Giga Metals Corporation · TSXV:GIGA
Giga Metals — Investor Presentation (February 2025)
33 slides from Giga Metals's investor presentation, Feb 10, 2025
Slide 1: Turnagain Project: Large reserves with new exploration targets
TSX.V: GIGA | OTCQX: GIGGF | FSE: BRR2 Turnagain Project: Large reserves with new exploration targets gigametals.com | Corporate Presentation |February 10, 2025
Slide 2: Disclaimer
Disclaimer This presentation ("Presentation") is being issued by Giga Metals Corporation (the “Company” or “Giga Metals”) for information purposes only. Reliance on this Presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all o
Slide 3: Giga Metals and Mitsubishi Corporation Turnagain Project Joint Venture
Giga Metals and Mitsubishi Corporation (MC) Turnagain Project Joint Venture ▪ Hard Creek Nickel Corp. is the JV company ▪ MC owns 15% interest, Giga maintains 85% ownership ▪ Giga and MC will jointly advance the Turnagain project as one of the lowest carbon and most environmentally friendly nickel p
Slide 4: 2023 PFS Highlights
2023 PFS Highlights 37,288 t/y Ni+Co US $1.9B Typical annual output Initial Capital Cost 30 year US$3.85/lb Ni Project life Site operating cost (Y3-28 average) 18% Ni, 1.1% Co US$4.65/lb Ni High Grade Concentrate C1 cost (Y3-28 average) Turnagain Pre-Feasibility Study, October 2023. 4
Slide 5: Technical Highlights
Technical Highlights SIMPLE FLOWSHEET SUCCESSFUL GEOMET PROGRAM MULTIPLE PRODUCT PATHS Crush – grind – froth flotation High-precision recovery algorithm Smelting or POX to Class 1 nickel fits all ore types LARGE OPEN PIT MINE LOW CARBON OPERATION TAILINGS SEQUESTER CO2 Very low strip ratio (0.4:1 LO
Slide 6: Located in an Attractive Mining Jurisdiction
Located in an Attractive Mining Jurisdiction ▪ Strong ESG practices ▪ Access to a deep-water Pacific ports and North American rail ▪ The Turnagain project is located in joint Tahltan and Kaska Dena Territory ▪ Both nations are generally supportive of responsible mining development Base map from BC M
Slide 7: Mineral Reserves Statement
Mineral Reserves Statement Tonnage Ni Grade Contained Ni Co Grade Contained Co Classification (Mt) (%) (million lbs) (%) (million lbs) Proven 408 0.219 1,970 0.013 121 Probable 542 0.194 2,326 0.012 146 Total 950 0.205 4,296 0.013 267 The Mineral Reserve estimates were prepared with reference to the
Slide 8: Mineral Resources Statement
Mineral Resources Statement Tonnes Ni Grade Contained Ni Co Grade Contained Co Classification (million) (%) (million lbs) (%) (million lbs) Measured 1,574 0.210 7,454 0.013 452 & Indicated Inferred 1,164 0.206 5,302 0.012 316 All mineral resources have been estimated in accordance with Canadian Inst
Slide 9: Ultramafic Intrusive Exploration Targets
Ultramafic Intrusive Exploration Targets ▪ The Turnagain deposit is open to expansion ▪ Other than the Horsetrail Zone, the Turnagain Intrusive remains underexplored 9
Slide 10: Simplified Processing Flowsheet
Simplified Processing Flowsheet ▪ Processing plant will be installed in slightly offset stages to maximize efficiency of construction and commissioning. ▪ Primary crusher is located adjacent to the mine to reduce haul distances ▪ Main processing facility including secondary and tertiary crushing, gr
Slide 11: High Grade Clean Concentrate
High Grade Clean Concentrate ▪ Desirable nickel sulfide concentrate product ▪ Multiple testwork campaigns: 15 to 21% Ni. ▪ Low impurities such as arsenic, mercury, cadmium ▪ Suitable for PFS Base Case – smelting ▪ Suitable for direct pressure oxidation to produce refined nickel end products such as
Slide 12: Projected Yearly Metal Production at Turnagain
Projected Yearly Metal Production at Turnagain Average years 3-28: 35,224 t/y Nickel 2,064 t/y Cobalt Turnagain Pre-Feasibility Study, October 2023. 12
Slide 13: Generating Transformative Targets
Generating Transformative Targets ▪ Dr. Stephen Beresford recommended exploration targets within the Turnagain ultramafic complex ▪ Dr. Beresford specializes in magmatic Nickel- Copper-PGE deposits, focus on polymetallic Ni-Cu-PGE deposits ▪ Adjunct Professor at the University of Western Australia,
Slide 14: High Grade Target Types at Turnagain
High Grade Target Types at Turnagain ▪ Breccia pipes with semi massive sulfides ▪ Volkovsky-type massive Cu-Fe mineralization postulated beneath near surface disseminated halo of copper, platinum and palladium in the Attic zone ▪ Marginal to basal contact sulfides along northern contact between High
Slide 15: Volkovsky Deposit is Similar to Turnagain
Volkovsky Deposit is Similar to Turnagain ▪ Volkovsky is a Cu-Fe mine within an Alaskan/Uralian intrusion → Turnagain has similar geology ▪ The Volkovsky intrusion has a central quartz diorite → Turnagain has a central hornblende diorite ▪ PGE+Au mineralization at Volkovsky and Turnagain are associa
Slide 16: Large Copper Anomaly in Soil Geochemistry
Large Copper Anomaly in Soil Geochemistry ▪ Effective delineation of the surface expression of the Cu-PGE zone 15
Slide 17: Breccia Pipe Target
Breccia Pipe Target ▪ Total magnetic survey Pipe? 18
Slide 18: Reprocessed Mag Data
Reprocessed Mag Data ▪ Magnetic vector inversion (mvi) consistent with up- facing geometry ▪ Suggests the intrusion is in its original orientation ▪ Untested basal contact 19
Slide 19: Giant Mascot Mine, BC
Giant Mascot Mine, BC Notice how some of the pipes do not outcrop. 19
Slide 20: Nickel Prices are Historically Volatile
Nickel Prices are Historically Volatile ▪ Orange line represents nominal dollars ▪ Black line represents 2023 dollars using compounded inflation Estimated C1 Cost of Giga Metals Nickel Production 20
Slide 21: Strong Global Growth in Nickel Consumption
Strong Global Growth in Nickel Consumption Production/ 2000 2010 2020 2023 Consumption, kt Nickel 1,097 1,443 2,465 3,219 Copper 14,847 19,072 24,868 26,699 ▪ Growth of global annual nickel consumption is 194% with a CAGR of 4.8% (2000-2023) ▪ Growth of global annual copper consumption is 80% with a
Slide 22: Project Sensitive to Nickel Price
Project Sensitive to Nickel Price High Price Case Low Price Case Sensitivity Analysis Base Case +(15%) -(15%) Nickel Price ($/t) $24,725 $21,500 $18,275 Nickel Price ($/lb) $11.22 $9.75 $8.29 IRR (pre-tax) 15.2% 11.1% 6.2% IRR (post-tax) 14.9% 11.4% 7.1% NPV ($M, pre-tax)* $1,552 $717 -$117 NPV ($M,
Slide 23: Share of Primary Nickel Use by Application
Share of Primary Nickel Use by Application Source: INSG, Macquarie Commodities Strategy, January 2025 16
Slide 24: 13% Annual Demand Growth for Nickel in Batteries
13% Annual Demand Growth for Nickel in Batteries 618,000 t/y of increased nickel demand forecast for battery applications by 2030. 18 large new nickel projects need to be built in next six years to meet this demand (large = 35,000 t/y Ni = Turnagain) Source: CRU, Macquarie Commodities Strategy, Janu
Slide 25: Nickel Production Making Profit at Different LME Prices
Nickel Production Making Profit at Different LME Prices Source: LME, CRU, Wood Mackenzie, Macquarie Commodities Strategy, January 2025 18
Slide 26: Indonesian Nickel Mining
Indonesian Nickel Mining ▪ Battery grade nickel in Indonesia is sourced from laterite strip mines and this type of ore is processed via high-pressure acid leach (HPAL) ▪ EV industry is dependent on Indonesian nickel to meet current rollout targets ▪ Indonesia accounts for about 55% of the world nick
Slide 27: Economic Comparison to HPAL Projects
Economic Comparison to HPAL Projects ▪ An internal study has been completed comparing Turnagain to a variety of potential HPAL projects of similar size to Turnagain (32-35 kt/y Ni), based on best available public information and assumptions regarding inflation and other matters. All cases have been
Slide 28: Cumulative cash flow comparison between Turnagain and various HPAL scenarios
Cumulative cash flow comparison between Turnagain and various HPAL scenarios Negative cash flow during construction, turns positive during ramp up and full production ▪ At 78% concentrate payability, Turnagain performs similarly to China Inc at 85% MHP payability, and better than all other HPAL case
Slide 29: Plans & Catalysts
Plans & Catalysts Prefeasibility Study announced September 2023 Partnership Feasibility Study Startup LOM Production avg. Discussions 35,000 t/y Ni 2,000 t/y Co Unexplored Target Environmental Evaluation Assessment Completion of these milestones are subject to financing and continued success in proj
Slide 30: Board of Directors
Board of Directors Lyle Davis, P.Eng. MBA, Chairman of the Board Mark Jarvis, CEO, Director Mr. Davis is a director and CEO of Condor Resources Inc., a copper and gold Mr. Jarvis has more than 30 years of experience in exploration and exploration company active in Latin America. He previously worked
Slide 31: Capital Structure
Capital Structure Trading Symbols TSX.V: GIGA | OTCQX: GIGGF | FSE: BRR2 Capital Structure (February 8, 2024) Shares Outstanding 105,587,461 Total Warrants 7,920,400 Options 10,555,000 Fully-diluted 124,062,861 Share Price (February 10, 2025) C$0.135 Market Capitalization C$14M 31
Slide 32: Where will all the sustainable nickel come from?
Where will all the sustainable nickel come from? 32
Slide 33: Let's Talk.
Let’s Talk. Visit us: www.gigametals.com Email: hmillar@gigametals.com Call: +1 (604) 681-2300 Suite 203 – 700 West Pender Street Vancouver, British Columbia Canada, V6C 1G8 TSX.V: GIGA | OTCQX: GIGGF | FSE: BRR2