Marmota Limited · ASX:MEU
Marmota — Shareholder Meeting (November 2021)
39 slides from Marmota's shareholder meeting presentation, Nov 24, 2021
Slide 1: AGM 2021 Chairman's Presentation
For personal use only AGM 2021 Chairman’s Presenta.on ASX: MEU 24 November 2021
Slide 2: Corporate Snapshot
Corporate Snapshot ASX: MEU For personal use only Capital Structure Share Price (Last 12 months) Shares on issue 980 m Options 0 Unlisted options (most at 10c per share) ~ 74 m Market Cap (at 4.5 cents per share) ~ $ 44 m Cash (as at 30 Sept 2021) $ 3.7 m Zero Debt Board & Management Top Shareholder
Slide 3: Comparison 2020 AGM vs 2021 AGM
Comparison 2020 AGM 2021 AGM Jumbuck acquisition –– COMPLETED For personal use only Junction Dam uranium 0% Title COMPLETED 100% Title MEU Gold deposits 1 7 (owned or majority interest) AURORA TANK GOLD best grade over 1m 120 g/t 165 g/t camp Commenced COMPLETED water source No YES (incl bore hole)
Slide 4: Aurora Tank Gawler Craton Gold
Aurora Tank For personal use only Gawler Craton Gawler Craton Gold AGM UPDATE
Slide 5: I skate to where the puck is going to be
For personal use only “ I skate to where the puck is going to be, not where it is. ” Steve Jobs 5
Slide 6: Question: why not just get a bulldozer?
QUESTION For personal use only The most common question I get is: Why don’t we just get a bulldozer, and go get us some gold at Aurora Tank? 6
Slide 7: Answer: the optimisation problem
ANSWER For personal use only 1. The op:misa:on problem … is not simply to try go into produc:on as fast as possible. It is: to make as much money from the project as possible. To get it right. e.g. seBng the right plant throughput rate e.g how much binder to add to the ore for heap leach? ✏ final st
Slide 8: Marmota 2.0
Marmota 2.0 For personal use only Marmota is transforming, into a much larger Company … Just in the last 2 weeks: FROM TO Gold Tenements ~ 5,000 km2 over 10,000 km2 Gold deposits* 1 deposit 7 deposits Untested gold anomalies 4 more than 40 * Ownership or majority interest in gold and related mineral
Slide 9: Jumbuck acquisition
Aurora Tank For personal use only Gawler Craton Jumbuck acquisition AGM UPDATE
Slide 10: New acquisition
ASX: MEU 15 Nov 2021 New acquisition For personal use only 10
Slide 11: Gold Deposits and Untested Gold Anomalies
ASX: MEU 23 Nov 2021 Gold Deposits For personal use only and Untested Gold Anomalies 11
Slide 12: Aurora Tank Gold Discovery
Aurora Tank For personal use only Gawler Craton Aurora Tank Gold Discovery AGM UPDATE
Slide 13: Aurora Tank: Outstanding Intersections
Aurora Tank: Outstanding Intersections For personal use only All close to surface 13
Slide 14: Exploration Summary
Exploration Summary For personal use only § Best ever gold intersections [ ASX:MEU 4 Feb 2021 ] 165g/t gold over 1m (just ~ 57m from surface) § New high-grade extensions identified: – to the North (and open) – at depth § New NW flank: tripled in length § High-grade gold intersected for first time at
Slide 15: Location and grade of best intersections
Location and grade of best intersections over 1m For personal use only (circled) 15
Slide 16: Schematic Long-section through new NW flank
For personal use only Schematic Long-section through new NW flank 16
Slide 17: Aurora Tank: Outstanding Intersections
Aurora Tank: Outstanding Intersections For personal use only All close to surface 17
Slide 18: First high grade gold at depth
First high grade gold at depth Since last AGM: For personal use only The intersection of 1m at 36 g/t (2m @ 21g/t) at a depth of 120m downhole suggests the presence of additional high-grade shoots at depth. If the host mineralised lodes continue further to depth, they are likely to consist of high p
Slide 19: Primary Mineralisation
Primary Mineralisation Tests of gold Close to Amenable to For personal use only grains (105 g/t) collected at 38m downhole on the NW flank surface low-cost open- are predominantly PRIMARY pit methods mineralisation. ASX:MEU 21 May 2020 Primary gold grains sampled from Hole 104 (with fine-grained sul
Slide 20: Aurora Tank Metallurgy
Aurora Tank For personal use only Gawler Craton AURORA TANK Metallurgy Testwork results to date ASX: MEU 20
Slide 21: Bottle-roll tests: Excellent Gold Recoveries
For personal use only Bottle-roll tests Aurora Tank Excellent Gold Recoveries Gold Recoveries (in %) vs Leach times in hours (for the 3 test samples) 21
Slide 22: Metallurgy Summary
Summary For personal use only Metallurgy Excellent Column Leach Test Results Low-cost Low-capex Heap Leach Pathway 22
Slide 23: Low-cost Low-capex Heap Leach Pathway
Metallurgy: Low-cost Low-capex Heap Leach Pathway Column leach tests yield excellent gold recoveries For personal use only 23
Slide 24: Low-cost Low-capex Heap Leach Pathway
Low-cost Low-capex Heap Leach Pathway For personal use only “ Marmota has been investigating the optimal pathway to production at Aurora Tank. The excellent column leach test gold recoveries suggest that Aurora Tank is amenable to low-cost low-capex heap leach techniques. A heap leach means that Mar
Slide 25: Marmota finds water source at Aurora Tank
Marmota finds water source at Aurora Tank For personal use only 25
Slide 26: Camp: Installed and Upgraded
CAMP: INSTALLED + UPGRADED For personal use only • mul:ple sleeping quarters • separate kitchen • separate management office • sep:c tank / waste management system • 10,000L self-bunded fuel tank • 90,000L capacity: water storage tanks • potable water treatment system 26
Slide 27: Key Takeaways Aurora Tank
Key Takeaways Aurora Tank For personal use only Gawler Craton Aurora Tank is very fortunate to have: ü Outstanding High-grade gold intersections ü Mineralisation Close to surface ü Excellent Gold recoveries (metallurgy) ü Soft ground (potential for ‘free dig’ ) ü Primary mineralisation (potential to
Slide 28: Marmota as a company is evolving
Marmota as a company is evolving … Transitioning from: For personal use only Discovery Production Drilling Marmota has just completed its largest diamond drilling program at Aurora Tank [ ASX:MEU 12 Oct 2021 ] The program is designed to provide the necessary detail to advance Aurora Tank to producti
Slide 29: What's Next?
Aurora Tank For personal use only Gawler Craton What’s Next? AGM UPDATE
Slide 30: What's Next: Drilling Programs
What’s Next Aurora Tank Drilling Programs For personal use only Gawler Craton ü Diamond drilling: just completed – assays likely in Jan ü RC drilling: Aurora Tank + ADI Recon (Jan 2022) ü RC drilling: focus on 1 of new deposits (1st Half 2022) ü Aircore: some of the 40 Gold anomalies (mid 2022) ü Ur
Slide 31: More news flow
More news flow Aurora Tank For personal use only Gawler Craton BEFORE ü Aurora Tank [ Sometimes, long lags while we wait for results ] NOW ü Aurora Tank ü Six new gold deposits ü Over 40 gold anomalies ü And uranium 31
Slide 32: Uranium
For personal use only Uranium 32
Slide 33: MEU acquires Junction Dam tenement
MEU acquires Junction Dam tenement For personal use only 1. By the end of 2014, Marmota had spent over A$8 million developing the Junction Dam uranium project [ ASX:MEU 29 Sept 2014 ]. 2. The Junction Dam tenement book-ends BOTH sides of the palaeochannel that runs through the Boss Honeymoon (ASX:BO
Slide 34: Junction Dam Tenement EL6530 map
505000 500000 6495000 6490000 6485000 6480000 65000 70900 75000 sz0ce0 88000 0g00 «5000 sann00 | HONEYMOON URANIUM MINE < NN Ne MEU Junction Dam Tenement EL6530 <&marmora EL6530 Peak Uranium Grade ° 1000 - 12308 ppm 350 - 1000 ppm 100 - 350 ppm Yarramba Palaeochannel 2 4 8 Kilometres og i BRIDGET EX
Slide 35: Saffron and Bridget palaeochannel visualisation
© MARMOTA For personal use only Fig. 3 Saffron and Bridget palaeochannel visualisation (depth to resistive basement image) Bridget Maiden Inferred Resource
Slide 36: Marmota Uranium JORC Resource
Marmota Uranium JORC Resource Marmota currently has: For personal use only • JORC Inferred Resource of 5.4 million pounds U3O8 [ Saffron deposit ] with average grade of 557ppm U3O8 [ ASX:MEU 18 Nov 2011, 20 Feb 2012, 17 July 2013 ] • Overall Exploration Target* of 22–33 million pounds U3O8 at approx
Slide 37: Key Uranium Takeaway
Key Uranium Takeaway For personal use only ü Ownership of Junction Dam makes Marmota, for the first time, masters of our own destiny in the uranium space. ü First step for the company to realise value of this outstanding asset for our shareholders. ü Sector is booming, and Marmota is perfectly locat
Slide 38: Prior Marmota releases referenced
This AGM Presentation includes information based on prior Marmota ASX:MEU releases which may be referred to for more detail, including: For personal use only 23 Nov 2021 15 Nov 2021 12 Oct 2021 6 Oct 2021 11 June 2021 15 April 2021 4 Feb 2021 17 Dec 2020 4 Nov 2020 20 July 2020 24 June 2020 11 June
Slide 39: Disclaimer
Disclaimer Disclaimer This presentation has been prepared by Marmota Limited (“MEU”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain For personal use only information in this document has been derived from third parties and though ME