Kingston Resources Ltd. · ASX:KSN
Kingston Resources — GAIC Conference February 2021
23 slides from Kingston Resources's conference presentation, Feb 5, 2021
Slide 1: Rising Gold Developer in the Asia-Pacific
For personal use only ASX: KSN Rising GOLD DEVELOPER in the Asia-Pacific Building a substantial new ASX-listed gold producer GAIC Conference – February 2021 Andrew Corbett, Managing Director ASX: KSN
Slide 2: Disclaimer
Disclaimer Forward Looking Statements Certain statements contained in this presentation, including information as to the future financial or operating performance of Kingston Resources Limited (“KSN”) and its projects, are forward looking For personal use only statements. Such forward looking statem
Slide 3: A Fast-Growing Gold Developer
A Fast-Growing Gold Developer Our vision For personal use only Misima PNG is to create an ASX listed mid-tier gold producer operating + in the Asia-Pacific Leverage the Misima Gold Project as our cornerstone asset Livingstone to build a mid-tier gold company + WA Head Office Led by an experienced an
Slide 4: PNG a world class geological setting
PNG a world class geological setting MISIMA PROJECT 6 600km from Port Moresby For personal use only SIMBERI PFS complete, DFS H2-2021 Moz St Barbara 66 VISION Moz Lihir NEWCREST MINING New mid-tier gold leader FRIEDA RIVER 17 Moz PanAust KAINANTU 24 PORGERA 2 K92 MINING 23 Moz Panguna Moz Barrick Go
Slide 5: Misima Pre-Feasibility & Ore Reserve
Misima Pre-Feasibility & Ore Reserve #1 3.60Moz Gold 24.2Moz Silver For personal use only Resource Resource 1.35Moz Gold 6.5Moz Silver Ore Reserve Ore Reserve Misima: the next low-cost, large-scale 130kozpa Production $822m pre-tax NPV gold producer in the at AISC A$1,159/oz, with 33% IRR Asia-Pacif
Slide 6: Capital Structure and Board of Directors
Capital Structure and Board of Directors Share Price A$0.26 For personal use only Issued Shares 282M Market Cap $72M Enterprise Value $55.4M MICK WILKES ANDREW CORBETT STUART RECHNER TONY WEHBY Cash (31 Dec 2020) $16.6M Chairman Managing Director Non-Executive Director Non-Executive Director Top 20
Slide 7: Sustainability
Sustainability Safety People For personal use only • Zero LTI’s • PNG employees +90% • Misima risk review • Can-do culture completed • Attract and retain the • Baseline data for TRIFR right people • Introduced Take 5 & JSRA • Caring for our people Environment Community • Zero environmental non- • Lo
Slide 8: COVID-19 Management
COVID-19 Management Expat quarantine procedures remain in place in both PNG and Australia For personal use only Operational readiness • COVID-19 Management Plan • COVID-19 Temperature Screening Procedure • COVID-19 Cleaning Procedure October 2020 recommenced drilling and exploration 2020 COVID respo
Slide 9: Our Strategy
Our Strategy For personal use only MISIMA (100%) LIVINGSTONE (75%) • Consolidated ownership of • Ongoing exploration Misima • Developing the geological • Completed the PFS model • Mineral Resources upgraded • Unlocking prospectivity • Maiden Ore Reserve • Approval program underway • Development road
Slide 10: Misima Island
MISIMA ISLAND For personal use only +100 years of production, +7Moz endowment to date SCALE 3.6Moz Au & 24.2Moz Ag Resource, 1.35Moz Au & 6.48Moz Ag Reserve ADVANTAGE Brownfields site, skilled workforce, supportive community HISTORY Operated by Placer as 5.5Mtpa CIL operation for 15 years www.kingst
Slide 11: Misima Pre-Feasibility Study
Misima Pre-Feasibility Study • PFS completed November 2020 For personal use only • Development underpinned by 3.6Moz Resource1 and 1.35Moz Reserve1 • Leveraging off 15 years of previous production history: ‾ New plant largely replicates successful Placer design ‾ Haul roads, port, airstrip in place
Slide 12: PFS Production Target Summary & Economics
Misima Pre-Feasibility Study PFS – Production Target Summary & Economics LOM Years 17 • PFS delivered exceptional economics1,2: LOM Gold production oz 2,133,157 For personal use only • 17-year mine life at 130,000oz average annual production LOM Avg annual gold production oz 129,282 • LOM average AI
Slide 13: Pre-Feasibility Site Layout
Pre-Feasibility Site Layout For personal use only • Kingston to mine and process the same orebody • Utilising previous process plant location • Leveraging existing land topography and previous footprint • Excellent access to current Misima Island facilities such as roads, airport, and ports • Simple
Slide 14: Misima PFS – Proven and Simple Process Flowsheet
Misima PFS – Proven and Simple Process Flowsheet For personal use only www.kingstonresources.com.au I ASX: KSN 14
Slide 15: Umuna Deposit: 3.3Moz Resource
Umuna Deposit: 3.3Moz Resource Umuna Resource: 133Mt @ 0.78g/t Au, 5.3g/t Ag For personal use only Exceptional upside potential: • Umuna open pit previously produced over 3.5Moz Au • Resource is drill-constrained with outstanding potential to increase ounces at depth and to the north • Shallow drill
Slide 16: Umuna Deposit: High-Grade Structures
Umuna Deposit: High-Grade Structures Umuna hosts a number of high-grade structures inside a broader mineralised corridor. Intersections include1: For personal use only 84m @ 7.20g/t Au 20m @ 17.04g/t Au 36m @ 8.50g/t Au 64m @ 4.13g/t Au 40m @ 6.49g/t Au 78m @ 2.76g/t Au 57m @ 3.39g/t Au 90m @ 1.84g/
Slide 17: Misima Exploration Strategy
Misima Exploration Strategy • Current Misima Resource is open at depth and drill- For personal use only constrained • Exploration focus remains on near-surface mineralisation and key exploration targets include: • Kobel & Maika: Historically mined by Placer with limited modern exploration since mine
Slide 18: Community Support the Key to Success
Community Support the Key to Success 130-year history of mining experience Misima Councillors’ meeting For personal use only Skilled resident workforce, with +100 FIFO Misima residents Strong local support of Kingston’s program, residents keen to see mine re-open Community development roadmap in pla
Slide 19: Misima: Active Work Program Advancing
Misima: Active Work Program Advancing Q1 Q2 Q3 Q4 2021 For personal use only Resource & exploration drilling JORC Resource Mining studies update Environmental baseline work Project approvals Advancing development focus • Environmental baseline work ongoing, EIS activity to step-up post PFS • Targeti
Slide 20: Livingstone Gold Project, WA (75%)
Livingstone Gold Project, WA (75%) • Kingsley prospect discovered in 2018 below auger soil anomaly For personal use only • Homestead Prospect contains a 49,000oz JORC 2004 Resource1, with shallow high-grade intersections including: 18m @ 7.85g/t Au from 68m 5m @ 20.5g/t Au from 3m 7m @ 12.59g/t Au f
Slide 21: Peer Comparison
Peer Comparison For personal use only Notes: • EV calculated as market capitalisation as at 1 February 2020 plus net debt as at 31 Dec 2020 • Resource ounces used are Total Resources and include varying compositions of Measured, Indicated and Inferred. Reserve ounces are Total Reserve and include va
Slide 22: For personal use only
✓ Exceptional large-scale production at Misima ✓ PFS 17-year mine life at For personal use only 130,000oz pa at a low AISC of A$1,159/oz ✓ Significantly de-risked - given extensive production history Kingston Resources’ vision ✓ 3.6Moz Resource and 1.35Moz Reserve is to become a significant new - th
Slide 23: Appendix: Data Sources
Appendix: Data Sources EV/Oz and Total Resource and Total Reserve Charts – Slide 17 - Resource data for the included companies is sourced from the following announcements or reports Company Release Date Announcement/Report For personal use only Anova Metals 18 Oct 2019 2019 Annual Report Apollo Cons