Toubani Resources Limited Registered Shs · ASX:TRE
Toubani Resources Limited Registered Shs — Toubani Resources — Investor Presentation (January 2025)
35 slides from Toubani Resources Limited Registered Shs's investor presentation, Jan 28, 2025
Slide 1: Investor Presentation: Partnering with our Stakeholders to unlock Kobada
For personal use only Investor Presentation Partnering with our Stakeholders to unlock Kobada JANUARY 2025 | ASX:TRE www.toubaniresources.com 1
Slide 2: Disclaimer
Disclaimer This Presentation is dated 28 January 2025 and has been prepared by Toubani Resources Limited (“TRE” or the “Company”). This Presentation contains certain financial measures relating to the Company's definitive feasibility study dated 31 October 2024 (DFS) outcomes that are not recognised
Slide 3: Kobada Ticks All of the Boxes
Kobada Ticks All of the Boxes Attractive platform to pursue company growth and outsized returns for our stakeholders Initial Development Avg Gold Low Average Annual Pre-tax & Post-tax Pre-tax & Post-tax Post-tax For personal use only Capex of Production AISC of Operating Cash Flow NPV8 of IRR of Pay
Slide 4: Engaging to Advance Mali's Resources Sector
Engaging to Advance Mali’s Resources Sector Recent agreements in Mali demonstrate how the sector is adapting to the new investment framework 3 Sep 2024 Allied Gold announces settlement of terms of a Definitive Protocol Agreement with the Government of Mali with subsequent Council of Ministers approv
Slide 5: Methodically Surfacing the Fundamental Value of Kobada
Methodically Surfacing the Fundamental Value of Kobada Following a proven pathway for long-term success as shifting risk profiles present compelling opportunities for investors $0.40 4.0 For personal use only May/ June: $0.35 Further high 31 Oct: Toubani 3.5 grade results at delivers highly Kobada a
Slide 6: Corporate Overview
Corporate Overview Capital Structure Shareholder Structure For personal use only Basic Shares Fully Share Price Institutional Management & Outstanding Diluted As of 24 January 2025 Investors Directors 229.0M 260.5M A$0.140 >50.0% 4.2% Substantial Holders Options/Perf Rights Market Capitalisation Cas
Slide 7: Experience in Funding & Developing Mines
Experience in Funding & Developing Mines Board of Directors Senior Management Phil Russo | Managing Director Mohamed Diarra | Executive General Manager – West Africa • Former Mali Country Manager for B2Gold, leading all in-country activities in the development of the US$600m Fekola mine For personal
Slide 8: Mature, Long Established Mining Industry in Mali
Mature, Long Established Mining Industry in Mali Economy's primary drivers are firmly supported by a robust mining sector and its associated industries Mature, well-developed Mali is the 3rd largest For personal use only mining jurisdiction with a gold producer in Africa long history of successful a
Slide 9: Next Steps – Derisk Kobada
Next Steps – Derisk Kobada Readying the Project for development with over US$1.2bln1 in direct future economic benefits for Mali Key workstreams progressing or well advanced For personal use only Mining Convention • Kobada’s current Mining Convention is governed by the 2012 Mining Code Kobada Gold P
Slide 10: Next Steps – Enhance Kobada
Next Steps – Enhance Kobada Opportunities to improve Kobada and reduce capex and opex Mining • Additional drill data from deeper drilling may increase fresh rock resources and result in For personal use only an expansion of later pit stages • Geotechnical studies to inform/refine pit wall design to
Slide 11: Next Steps – Grow Kobada
Next Steps – Grow Kobada Dual growth strategy includes walk-up oxide targets and depth extensions Kobada oxide targets Targeting significant free milling, fresh rock optionality at depth For personal use only www.toubaniresources.com 11
Slide 12: Kobada Definitive Feasibility Study Delivered on Commitments
Kobada Definitive Feasibility Study Delivered on Commitments RESOURCE UPGRADE COMPETITIVE AISC For personal use only • Large oxide Mineral Resource • AISC of US$1,004/oz driven by low strip ratios, • 90% of 2.2Moz MRE in Indicated classification soft ore and simple processing RESERVE GROWTH FRESH RO
Slide 13: 90% of 2.2 Moz Resource in the Indicated Category
90% of 2.2 Moz Resource in the Indicated Category Shallow and well drilled oxide-dominant open pittable Mineral Resource • Kobada is a large, continuous deposit extending over 5km of strike For personal use only • Mineral Resource of 2.2Moz (Indicated and Inferred) defined within a 4.5km long open p
Slide 14: Significant Ore Reserve of 1.56Moz Underpins Long Mine Life
Significant Ore Reserve of 1.56Moz Underpins Long Mine Life Open pit extends for 4.4km with a maximum pit depth of 180m • US$1,650/oz gold price and prevailing costs used in Ore Reserve estimation, For personal use only reflecting the robustness of the Kobada deposit • Ore Reserve of 1.56Moz represe
Slide 15: Study Contributors – Leaders in Their Fields
Study Contributors – Leaders in Their Fields Best in class technical partners deliver robust Definitive Feasibility Study Study Manager For personal use only Ore Processing Mineral Tailings Storage Facility Plant Design Resource & Site Water Mgmt. Mining Study / Non-Process Metallurgical Ore Reserve
Slide 16: Overview of Kobada Gold Project DFS Outcomes
Overview of Kobada Gold Project DFS Outcomes Technically simple project translates to compelling economic outcomes Kobada Gold Project - DFS Outcomes Unit Base Case Project Life Years 9.2 Free-dig oxide material, no drill and For personal use only Mining Metrics Total Material Movement (TMM) Mt 216.
Slide 17: Mining Phases Staged to Optimise Cash Flow and Reduce Risk
Mining Phases Staged to Optimise Cash Flow and Reduce Risk Phasing of pits focused on increasing early access to ore at low strip ratios Kobada Open Pit Strip Ratio (W:O) vs Selected West African Development Peer Projects For personal use only 0 1 2 3 4 5 6 Koné 1.2 Kiaka 1.8 Kobada 3.0 Nyanzaga 3.7
Slide 18: Kobada DFS Mining Schedule
Kobada DFS Mining Schedule Non-selective, bulk mining strategy Total Material Movement Mt W:O For personal use only 35 15.0 30 • LOM strip ratio of 3.0:1 (waste:ore) 12.0 25 • Stage 1 strip ratio of 1.8:1 (waste:ore) 20 9.0 • Predominantly free-dig material (no drill & blast) 15 6.0 10 • Average ann
Slide 19: Oxide Gold Production For Longer
Oxide Gold Production For Longer 162,000oz average annual production over an initial 9-year life of mine Mt Tonnes Processed Profile g/t For personal use only 1.06 1.05 1.20 1.01 1.00 0.92 • Processing rate of 6.0 Mtpa for oxide 0.86 0.86 1.00 6.0 0.76 0.79 only years 0.72 0.80 • Oxide / fresh blend
Slide 20: Kobada Joins the +150,000ozpa Development Assets Tier
Kobada Joins the +150,000ozpa Development Assets Tier Kobada DFS delivers a step change in project profile and increased regional significance Gold Production vs AISC, Kobada vs Selected Koz US$/oz West African Gold Development Peer Projects For personal use only 300 1,400 1,200 250 1,000 200 800 15
Slide 21: Kobada is a Compelling Low-Cost Asset
Kobada is a Compelling Low-Cost Asset Competitive costs are driven by Kobada’s unique soft rock characteristic US$/ tonne All - in - Sustaining Costs US$m LOM US$/oz BWi (kWh / t) processed For personal use only Mining 680 456 12.6 0 5 10 15 20 25 30 Processing 447 299 8.3 Kobada Oxide 3.7 Site G&A
Slide 22: Kobada is a Simple, Conventional Oxide Process Flow Sheet
Kobada is a Simple, Conventional Oxide Process Flow Sheet Free-milling with high recoveries of 96% in oxide material KOBADA HAUL TO MINERAL GRAVITY INTENSIVE CYANIDE LEACH OPEN PIT PLANT SIZER BALL MILL CYCLONES CONCENTRATOR LEACH & ADSORPTION For personal use only ELUTION TAILINGS Soft, free-millin
Slide 23: Low Initial Development Capital Requirement
Low Initial Development Capital Requirement Robust capital estimate comparable with recent successful West African mine builds of similar scale Initial Development Capital US$m For personal use only Construction Distributables 32.8 Treatment Plant Costs 60.4 Reagents & Plant Services 19.4 Non-Proces
Slide 24: Industry Leading Capital Intensity
Industry Leading Capital Intensity Relatively low funding hurdle with strong returns on invested capital Kobada Capital Development Profile vs Selected West African Gold Development Peer Projects For personal use only 800 712 700 600 500 474 447 456 446 435 400 365 373 300 216 200 101 119 Lowest cap
Slide 25: Robust Economics Across Various Scenarios
Robust Economics Across Various Scenarios Sensitivity analysis highlights the resilience of the Kobada Gold Project Sensitivity Analysis - Post Tax NPV (US$m) • Kobada can withstand significant unfavourable movements in For personal use only - 200 400 600 800 1,000 1,200 macroeconomic and technical
Slide 26: Next Steps – Grow Kobada
Next Steps – Grow Kobada Pursuing additional oxides to increase production and optimise oxide/fresh blend For personal use only Dual growth strategy includes walk-up oxide targets and depth extensions • Enables high margin oxide ounces to supplement base load throughput for potential increases in go
Slide 27: Next Steps – Grow Kobada
Next Steps – Grow Kobada Untapped potential below the current Mineral Resource For personal use only Targeting significant free milling, fresh rock optionality at depth • Historic drilling results in fresh rock at Kobada include1: • 9m at 21.0g/t from 114m (KBRC12-066) • 3m at 33.9g/t from 135m (KBR
Slide 28: Growth – Fresh Rock Opportunity Below Current MRE
Growth – Fresh Rock Opportunity Below Current MRE Kobada deposit is open at depth For personal use only Drilling program targeting high priority depth extensions Note: Refer to the Company’s announcements dated 25 March, 11 April, 22 April, 22 May 2024. www.toubaniresources.com 28
Slide 29: Set to Rapidly Advance and Unlock Fundamental Value
Set to Rapidly Advance and Unlock Fundamental Value Kobada is an attractive asset today, but can be even better tomorrow Well funded towards achieving Shovel-Ready status in 2025 For personal use only 2024 H1 2025 2026 Positioned for Enhance Grow Derisk Path to Success Production H2 2025 Development
Slide 30: Additional information
ASX: TRE For personal use only Additional information www.toubaniresources.com 30
Slide 31: Kobada Resources & Reserves
Kobada Resources & Reserves Mineral Resource Estimate Ore Reserve Estimate Material Indicated Inferred Total Material Proved Probable Total For personal use only Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (Mt) (g/t) (Moz) (
Slide 32: African Gold Development Peers
African Gold Development Peers Kobada ascends to the big leagues Project Doropo Kiaka Bankan Koné Twin Hills Kurmuk Nyanzaga Dugbe Kobada Updated FS - Stage FS July'24 FS July'24 PFS - Apr’24 DFS - Jun'23 FS Dec'22 DFS Aug'22 FS Jun'22 DFS Oct’24 For personal use only Jan'24 Mine method OP/UG OP OP
Slide 33: Competent Person Statement
Competent Person Statement The information in this announcement that relates to Exploration Results from the Kobada Gold Project is extracted from the Company’s ASX announcements dated 17 May 2023, 26 April 2023, 11 April 2023, 8 March 2023, 19 July 2023, 25 March 2024, 11 April 2024, 22 April 2024,
Slide 34: Reference Data
Reference Data Company Project Document NI 43-101 Technical Report Published 3 September Centamin Doropo For personal use only (Effective 18 July 2024) – Doropo Gold Project Feasibility Study West African ASX Announcement 2 July 2024 - Kiaka Feasibility Study Kiaka Resources Updated Delivers 4.8Moz
Slide 35: For personal use only
For personal use only ASX:TRE Phil Russo Peter Taylor Managing Director Investor & Media Relations phil.russo@toubaniresources.com peter@nwrcommunications.com.au www.toubaniresources.com 35
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