Caravel Minerals Limited · ASX:CVV
Caravel Minerals — Shareholder Meeting (November 2021)
29 slides from Caravel Minerals's shareholder meeting presentation, Nov 25, 2021
Slide 1: AGM Presentation
For personal use only AGM Presentation 25 November 2021 1
Slide 2: Disclaimer
Disclaimer This presentation should be considered in its entirety. If you do not understand the material contained in this presentation, you should consult your professional advisers. The sole purpose of this presentation is to provide shareholders with an update on current activities of the Company
Slide 3: Corporate snapshot
For personal use only Corporate snapshot Capital Structure Ownership Analysis ASX ticker CVV Share price (24 November 2021) 35c Shares on issue 390M Unlisted options (8-75c strike) 21M Market capitalisation (undiluted) $136M Cash (30 September 2021) $9.7M Debt Nil Twelve-month Share Price Performanc
Slide 4: On Perth's doorstep
For personal use only On Perth's doorstep South West Yilgarn Terrane A mineral province hosting some of Australia’s most important new discoveries: • Australia’s largest gold mine Boddington – 1980s • Dominion Mining copper discovery mid-2000’s (Caravel) • Chalice PGE Julimar/Gonneville – 2020 Now h
Slide 5: Caravel Copper Project
For personal use only Caravel Copper Project 2021 Scoping Study confirmed strong economics, including: • 28 year mine life • ~35Kpta copper (in con) years 1 - 5 ~55Ktpa copper (in con) year 6 - 28 • ~$1.44b NPV (base case) @ 7% discount rate Study incorporated updated project process flow sheet and
Slide 6: Scale and simplicity are the key to low cost
Scale and simplicity are the key to low cost • Conventional open-pit, very low-strip, bulk mining, wide ore zones For personal use only • >100Mt Measured Resource – low risk • First 5 years – access 59Mt higher-grade ore at 0.4:1 strip ratio • Good metallurgy and high recoveries • Standard crush - g
Slide 7: Pre-Feasibility assumptions updated
Pre-Feasibility assumptions updated For personal use only Study Version Flowsheet Design Throughput Rate CAPEX OPEX Revenue Forecasts SAG mill with pebble crusher 12Mtpa first 5 years 2021 $576M A$14.42/t milled Copper Price US$4/lb (and no Moly circuit) 24Mtpa from year 6 16Mtpa first 5 years 2019
Slide 8: Copper price and outlook
For personal use only Copper price and outlook 2019 Scoping Study based on $US3.00/lb Current copper price $US4.58/lb Chart from Market Index: https://www.marketindex.com.au/copper www.caravelminerals.com | 8
Slide 9: Life of Mine results 2021 study
Life of Mine results 2021 study For personal use only www.caravelminerals.com | 9
Slide 10: 2021 Scoping Study Financials Initial Capital Breakdown
2021 Scoping Study Financials Initial Capital Breakdown A$M Mining Pre-strip 59 For personal use only Process Plant 217 Crushing and Stockpile 37 Milling and Pebble Crushing 113 Flotation 32 Concentrate Handling 7 Tailings Handling 12 Reagents 5 Plant Services 12 Infrastructure 160 TSF 40 Raw Water
Slide 11: Financials
For personal use only Financials www.caravelminerals.com | 11
Slide 12: Financials
For personal use only Financials www.caravelminerals.com | 12
Slide 13: Costs - 2021 Scoping Study
Costs - 2021 Scoping Study Processing $6.70 t/ore Total $14.42 t/ore For personal use only Contract Mining $6.15 t/ore ($2.93 t @ 1:1 strip ) 6% 4% 5% Processing 45% Mining 40% 26% 7% 7% www.caravelminerals.com | 13
Slide 14: Costs – Caravel advantages
Costs – Caravel advantages Substantial cost savings from grid power and low-strip ratio For personal use only • ½ mining cost compared to 3:1 strip ratio 1/ • 3 power costs compared to off-grid If off-grid 6% 4% power 5% Processing 45% If 3:1 strip Mining ratio 40% 26% 7% 7% www.caravelminerals.com
Slide 15: Mineral Resources
For personal use only Mineral Resources Large Resource and Growing • 2021 and 2019 Study both based on the 2019 Mineral Resource • 662Mt at 0.28% Cu (at 0.15% Cu cut-off) for a total of 1.86Mt contained copper • Updated resource estimate complete – additional 1Mt contained copper now 2.84Mt www.cara
Slide 16: Over 100% growth copper tonnes
For personal use only Over 100% growth copper tonnes Drilling = Tonnes 2016 Maiden Resource 2019 Resource 2021 Resource 2021 Resource • 1.4Mt contained copper • 32% increase in contained • 32% increase in contained • 53% increase in contained at 0.15% cut-off copper at 0.15% cut‐off copper at 0.15%
Slide 17: Largest undeveloped copper resource in Australia
Largest undeveloped copper resource in Australia 1.18 Billion tonnes @ 0.24% Cu and 48 ppm Mo For personal use only 2.84 Mt contained copper (0.1% Cu cut-off) www.caravelminerals.com | 17
Slide 18: Mineral Resource drilling programs
For personal use only Mineral Resource drilling programs Drilling programs since 2019 •34,230m drilling, mostly at the main Bindi Deposit •7,275m diamond core •26,955m reverse circulation (RC) Results have significantly increased Mineral Resources • Additional 1Mt contained copper = 53% increas
Slide 19: Depth Extension – Exploration Target
For personal use only Depth Extension – Exploration Target www.caravelminerals.com | 19
Slide 20: Bindi East Limb Higher Grade
For personal use only Bindi East Limb Higher Grade www.caravelminerals.com | 20
Slide 21: Project activities
For personal use only Project activities Mining and Operations • Mining Parameter Studies • Geotechnical Investigations • Pit Optimisations • Mine Scheduling • Mine Design • Investigating Electrification and Automation Metallurgy • Mineralogy • Comminution • Flotation • Material Characteristics • Co
Slide 22: Project progress
For personal use only Project progress Mineral Processing • Caravel engaged Ausenco for process plant and infrastructure design, capital and operating cost estimation and execution planning • Trade-off studies produced revised standard crush, grind, float, concentrate production flowsheet • Throughp
Slide 23: Updated process plant design
For personal use only Updated process plant design www.caravelminerals.com | 23
Slide 24: Copper concentrate
For personal use only Copper concentrate Clean Copper Concentrate • Initial test work indicates a very clean copper concentrate low in deleterious elements such as arsenic, bismuth and cadmium. www.caravelminerals.com | 24
Slide 25: Infrastructure studies
For personal use only Infrastructure studies Roads • Adjacent to public roads (MRWA) • Further upgrades to Tonkin Highway and Great Northern Highway will reduce travel time by ~20min Ports • Option to export through Geraldton (~370km) or Bunbury (345km) Water • Potential sources identified, explorat
Slide 26: Approvals & tenure
Approvals & tenure Final environmental and heritage baseline surveys complete by end CY 2021 For personal use only • LiDAR survey Flora and vegetation (two season surveys complete) Aquatic ecology Subterranean fauna (mine) Invertebrate fauna Subterranean fauna Vertebrate fauna • Carave
Slide 27: Pathway to production
For personal use only Pathway to production www.caravelminerals.com | 27
Slide 28: PFS on track
For personal use only PFS on track DONE DONE ON TRACK Appointed Ausenco as Resource Project PFS due early top-tier, lead engineer for update delivered 2022 PFS • 53% increase in • PFS progressing well Industry leader in global contained copper = • • Experienced management team engineering services a
Slide 29: caravelminerals.com.au
ASX:CVV For personal use only caravelminerals.com.au
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