Brightstar Resources Limited · ASX:BTR
Brightstar Resources — RIU Explorers Conference 2023
28 slides from Brightstar Resources's conference presentation, Feb 14, 2023
Slide 1: Building a New Player in the WA Goldfields
For personal use only BUILDING A NEW PLAYER IN THE WA GOLDFIELDS INVESTOR PRESENTATION | RIU EXPLORERS CONFERENCE FEBRUARY 2023 INVESTOR PRESENTATION |
Slide 2: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER Important Notices This Presentation has been prepared by Brightstar Resources Limited (Brightstar) and Kingwest Resources Limited (Kingwest) and is authorised by the Board of Directors of Brightstar and the Board of Directors of Kingwest. For personal use only Disclaime
Slide 3: Unlocking Value in Underexplored Assets
Unlocking Value in Underexplored Assets • Strategic land position of ~300km2 in the Laverton Tectonic Belt <Insert generic map of WA with project For personal use only areas and greenstone belts> • Excellent geological terrane - home to 20Moz+ mineral endowment • Surrounded by multi-million ounce or
Slide 4: Corporate Overview
Corporate Overview CURRENT BOARD & MANAGEMENT For personal use only Brightstar Alex Rovira, Managing Director Share Price $0.018/sh Equity Capital Markets, Geologist Shares on Issue 829,128,823 Josh Hunt, Non-Executive Chairman Commercial Lawyer Market Capitalisation $15m Significant mining & Tony L
Slide 5: Merged Group Snapshot
Merged Group Snapshot Substantial Assets in the Right Postcode For personal use only - ~1Moz JORC Resource (post merger) - All resources located on granted mining leases - Processing infrastructure on C&M - Underexplored tenure in world class districts Surrounded by Major Deposits and Mines - Granny
Slide 6: Transaction Overview & Strategic Rationale
Transaction Overview & Strategic Rationale Unanimous support from Kingwest and Brightstar Boards for the merger For personal use only Transaction • Merger of Brightstar and Kingwest to be effected via a Kingwest scheme of arrangement (Scheme) under which Brightstar will Structure acquire 100% of the
Slide 7: Regional Overview
Regional Overview Opportunity to consolidate a fragmented junior landscape in a world class address For personal use only Regional Consolidation & Simplified Corporate Strategy Regional Overview • Regional consolidation is underway in Leonora and there is an opportunity to consolidate underappreciat
Slide 8: Brightstar Asset Overview
Brightstar Asset Overview Base load resources with material exploration upside For personal use only • Approximately 300km2 of 100%-owned tenure in the Laverton Tectonic Zone. Significant exploration upside exists across the tenement package • Portfolio is spread across multiple project areas: - Alp
Slide 9: Cork Tree Well Exploration
Cork Tree Well Exploration Open pit: 250koz JORC Resource - Open Along Strike and at Depth For personal use only • +6,000m RC drilling program underway • Program targeting extensions along strike to the north and depth extensions • Focused on increasing confidence and converting Inferred Resources t
Slide 10: Brightstar Processing Plant
Brightstar Processing Plant Existing infrastructure underpins and accelerates re-start optionality For personal use only Infrastructure Provides Operational Head-Start over Peers Processing Plant & Infrastructure in Laverton Processing Infrastructure • 485ktpa CIL processing plant1 currently on care
Slide 11: Capital Cost Estimates (Process Plant)
Capital Cost Estimates (Process Plant) Recent constructed & studies of WA gold processing facilities demonstrate inherent value of the BTR infrastructure For personal use only Plant Purchasing Size Cost Type Project Location Builder Year Completed Ref: Company ($M) (Mtpa) Purchase of Karora Resource
Slide 12: Capital Cost Estimates (Process Plant)
Capital Cost Estimates (Process Plant) Brightstar Plant & Infrastructure provide potential “Capital-light” Pathway To Production For personal use only Recent development estimates can be analysed ( ~1Mtpa to ~2.5Mtpa operations) for conceptual production scenario planning purposes; 1.0Mtpa: Average
Slide 13: Kingwest Resources
KINGWEST RESOURCES For personal use only INVESTOR PRESENTATION | 13
Slide 14: Kingwest Asset Overview
Kingwest Asset Overview Contiguous land package in prolific historic mining field For personal use only • Kingwest owns 100% of the Menzies Gold Project (MGP), a tenement holding of a contiguous land package of granted mining leases over a strike length of +15km • High-grade open pit ounces can be m
Slide 15: Kingwest Asset Overview
Kingwest Asset Overview High grade open pit ounces that will carry haulage costs to Laverton For personal use only Stirling and Pericles High Grade Domains • Recent drilling success from shallow infill drilling at the Stirling and Pericles Deposits - Contained in the broader Lady Shenton System, ret
Slide 16: Recent Developments - Regional Consolidation
Recent Developments - Regional Consolidation Goldfields regional consolidation reduces 3rd party processing optionality • Gwalia processing plant to be fully utilised post SBM-GMD merger (Hoover For personal use only House)1 – Removal of ~1.4Mtpa processing capacity • Mt Morgans (DCN) plant on place
Slide 17: Peer Comparisons
Peer Comparisons1 Combination of attractively priced ounces that belies the inherent value of Merged Group’s assets For personal use only $120 $100 Enterprise Value (A$ per Resource Ounce $80 $60 $40 Merged Group $20 $0 1) As at 13/2/23 2) Refer Appendix 2 for further information on peers’ ASX annou
Slide 18: Summary
Summary MERGER IS A LOGICAL CONSOLIDATION OF TWO ADVANCED ASSETS IN A PROLIFIC GOLD For personal use only DISTRICT Simple transaction rationale and focus for Brightstar: • Tenure: Western Australia focus and granted Mining Leases • Stage: Advanced assets with substantial JORC Mineral Resource. Merge
Slide 19: Appendices
APPENDICES For personal use only INVESTOR PRESENTATION | 19
Slide 20: Operational Overview
Operational Overview Merger creates multiple ore sources for assessing production scenarios For personal use only Merged Group Overview Regional Overview Laverton (Brightstar) • Cork Tree Well, Alpha, Beta Key Project Areas Menzies (Kingwest) • Stirling/Pericles, Yunndaga, Lady Shenton, Lady Harriet
Slide 21: Enhanced Asset Diversification and Scale
Enhanced Asset Diversification and Scale Multiple ore sources provides optionality in production scenarios, in a dynamic district For personal use only Resource Overview (koz) Merged Group Resource Overview (koz) • The Merged Group’s combined asset base of 21Mt @ 1.5g/t Au for 965koz 101 consists of
Slide 22: Refreshed Corporate Strategy to Drive Shareholder Returns
Refreshed Corporate Strategy to Drive Shareholder Returns Clear and deliverable targets to create value over the short, medium and longer term For personal use only • Two complementary advanced gold exploration plays located in a Tier 1 operating jurisdiction under-going significant Establishing Cri
Slide 23: Key Benefits to Both Sets of Shareholders
Key Benefits to Both Sets of Shareholders Merger unlocks significant latent value and provides a win for both shareholders For personal use only MUTUALLY BENEFICIAL TRANSACTION TO BOTH SETS OF SHAREHOLDERS ✓ Mitigation of single asset development risk ✓ Increased scale of JORC Mineral Resources fast
Slide 24: Transaction Timeline
Transaction Timeline Transaction timeline is indicative only and subject to change For personal use only Indicative Transaction Timeline Date Announce Transaction Friday, 23 December 2022 First Court Hearing Tuesday, 7 March 2023 Kingwest to Dispatch Scheme Documents to Shareholders and Optionholder
Slide 25: Brightstar JORC Resource Statement
Appendix 1 BRIGHTSTAR JORC RESOURCE STATEMENT For personal use only Category MEASURED INDICATED INFERRED TOTAL Deposit Au Cut-off Mt Au g/t Ounces Mt Au g/t Ounces Mt Au g/t Ounces Mt Au g/t Ounces Alpha 0.5 0.62 1.6 33,000 0.38 2.1 25,000 0.46 3.3 48,000 1.4 2.3 106,000 Beta 0.5 0.35 1.7 19,000 0.5
Slide 26: Detailed Peer Resource Information
Appendix 2 DETAILED PEER RESOURCE INFORMATION1,2 For personal use only DEVELOPMENT ASX CODE COMPANY CASH ($M) DEBT ($M) SOI (M) Share Price ($/sh) Market Cap. (M) EV ($M) Resources (Moz)EV / Resources Source STAGE YRL Yandal Resources Exploration 5.96 - 157.80 0.093 14.68 8.72 0.41 21.52 ASX- Dec Qt
Slide 27: Supporting Sources
Appendix 3 Supporting Sources: For personal use only Operating Costs 1) RED 5 December 2022 Quarterly Presentation https://www.red5limited.com/site/pdf/f393f69b-f363-42a8-86fe-8f3adabe4b61/December-2022-quarterly-presentation.pdf 2) Dacian Gold December 2022 Quarterly Report https://www.daciangold.c
Slide 28: For personal use only
For personal use only ALEX ROVIRA GREG BITTAR Managing Director Executive Chairman Alex@brightstarresources.com.au gbittar@kingwestresources.com.au INVESTOR PRESENTATION | 28