Theta Gold Mines Ltd. · ASX:TGM
Theta Gold Mines — Shareholder Meeting (November 2023)
27 slides from Theta Gold Mines's shareholder meeting presentation, Nov 28, 2023
Slide 1: Theta Gold Mines Annual General Meeting
THETA GOLDMINES LIMITED ANNUAL GENERAL MEETING November 28, 2023 FS to recover 1.08Moz Au over 12.9 years LOM at TGME underground mine. For personal use only 6.1Moz Gold Resource and Growing 1
Slide 2: Disclaimer
Disclaimer FORWARD LOOKING AND CAUTIONARY STATEMENTS DISCLAIMER AND COMPETENT PERSONS STATEMENT This presentation may refer to the intention of Theta Gold Mines regarding estimates or future events which could DISCLAIMER be considered forward looking statements. Forward looking statements are typica
Slide 3: Significant Milestones
Significant Milestones • Feasibility Study (FS) completed underpinning an initial 12.9-year mine life to deliver up to free cash flows of up to US$500m and 1.24Moz contained gold production; • Execution of A$110m (US$70m) non-binding Term Sheet (“TGME Stream”) signed with Sprott Streaming and Royalt
Slide 4: ASX Listing
ASX Listing Ordinary Shares ASX: TGM 706M¹ Out-of-the-money unlisted options and 110M For personal use only management performance rights Market Capitalisation1 ~A$71M (~US$65M) (undiluted) Top Shareholders: BNP PARIBAS NOMINEES PTY LTD 12.1% CITICORP NOMINEES PTY LIMITED 10.7% HSBC CUSTODY NOMINEES
Slide 5: Theta Gold expected Catalysis 2024
Theta Gold expected Catalysis 2024 • Execution Plan Theta Underground Project • Commencement of trucking of bulk sample from Frankfort mine • Permitting completion for Mining Right 83 (EIA) For personal use only • Completion of Sprott due diligence → Binding Streaming Agreement • Commercial Bulk Sam
Slide 6: Summary
Summary Theta Gold Mines South Africa Gold Mine developer Reviving South Africa’s first gold rush ➢ 6 M oz of High-grade Gold under management (One of the largest Resources bases on ASX held by Junior) ➢ The Kirkland Lake Strategy- Back to First Gold Rush for the next generation of For personal use
Slide 7: Theta Gold Highlights
Theta Gold Highlights • High Growth Gold Investment Opportunity • Existing Historic Goldfield - Multiple pre-developed, shallow, high grade historic gold mines – ready to be brought back into production • Large, Growing Resource - 6.1Moz gold resource @ 4.17g/t and continuously growing, with more th
Slide 8: South Africa's "Newest" Gold Field
South Africa’s “Newest” Gold Field The Transvaal Gold System sits geological on the eastern side of Bushveld Complex the largest layered igneous intrusion on earth. Our goldfield already produced ~7Moz Au For personal use only since 1870s. Pilgrims Rest Theta have generated and delivered one of the
Slide 9: Key FS Takeaways
Key FS Takeaways1 Underground ore mined Peak Funding Metallurgical Project Life 6.46Mt @ 5.95g/t Requirements Recovery For personal use only Theta Gold Mines Limited, controls 12.9 years Au for 1.24Moz of US$ 77M2 87% the Eastern Transvaal Gold Fields, contained gold where South Africa’s gold mining
Slide 10: Getting Ready for Construction/Production - Deliverables
Getting Ready for Construction/Production - Deliverables • Initial startup Feasibility Study (FS) completed in July 20221 to produce 1.24Moz Gold with a FS Life of Mine of 12.9 years. • Strong support from stakeholders, including local NGOs, farmers, neighboring enterprises, government departments,
Slide 11: Strategy to build up to >160,000oz/a Au production profile
Strategy to build up to >160,000oz/a Au production profile within 5 years (only 6 of >40 pre-developed mines) CURRENT FS - 90,000 oz/a PHASE >160,000 oz/a For personal use only PHASE 1 2 • 4 mining production units • Expand to 7 mining production • 45 kt/m Metallurgical plant units • Recommission ex
Slide 12: UG Mines targeted first out of potential
6 UG Mines targeted first out of potential > 40 Solid Growth Potential 5 2 For personal use only Pre-construction Permitting the next 3 phase of Mines • Surface footprint 1 • Underground rehabilitation • Operational readiness LEGEND Exploration 1. Beta Program Commercial Bulk 2. Frankfort • Undergro
Slide 13: Snapshot – Reviving South Africa's first gold rush
Snapshot – Reviving South Africa’s first gold rush • Provincial location with a small population • The local people, our stakeholders, lobbied government for the Project • ESG – Environmental offsets and Small Footprint, Community Forums, Local Jobs created For personal use only • First four Mines t
Slide 14: Appendices
For personal use only APPENDICES 14
Slide 15: Project Economics at Various Gold Prices – Base Case (AUD)
Project Economics at Various Gold Prices – Base Case (AUD) Forecast Project Economics at gold price Unit (USD1,642/ oz USD1,500/oz USD1,600/oz USD1,800/oz USD2,000/oz USD2,200/oz Avg) NPV @ 10% (real) Pre-tax AUDm 432 339 405 536 669 802 NPV @ 10% (real) Post-tax AUDm 292 232 274 359 447 533 IRR (%)
Slide 16: FS Project Economics at Various Gold Prices – Base Case (USD)
FS Project Economics at Various Gold Prices – Base Case (USD) Base Forecast Project Economics at gold price Unit (USD1,642/oz USD1,500/oz USD1,600/oz USD1,800/oz USD2,000/oz USD2,200/oz LoM Avg) NPV @ 10% (Pre-tax) USDm 324 255 304 402 501 601 NPV @ 10% (Post-tax) USDm 219 174 206 269 335 400 For pe
Slide 17: FS – Key Metrics Base/Ore Reserve Cases
FS – Key Metrics Base/Ore Reserve Cases Description Units Base Case Ore Reserve Case Project Targeted Start Date Quarter-yyyy Q1 2023 Q1 2023 Commercial Production Start Date Quarter-yyyy Q2 2024 Q2 2024 Production build up period Months 14 14 For personal use only Life of mine years 12.9 7.3 Underg
Slide 18: FS - Operating Costs in Dollar per Ton
FS - Operating Costs in Dollar per Ton (Project over LoM) AUD/Milled USD/Milled Operational Cost tonne tonne • Adjusted Operating Costs against the milled tonnes per year Mine Cost 96 72 • The increase in feed tonnes in years 9 to 12 is due to Frankfort mine being mined, and the tonnes Plant Costs 4
Slide 19: FS - Phase Plant Rendering
FS - Phase 1 Plant Rendering For personal use only 19
Slide 20: FS - Free Milling Ore Process Plant
FS - Free Milling Ore Process Plant For personal use only 20
Slide 21: FS - Process Selection and Metallurgical Test Work
FS - Process Selection and Metallurgical Test Work Individual Mine % of 1.24M Oz into Mine Test Work Recovery DFS Recovery Used Comments Metallurgical Test Work Schedule Beta 60.4% 87-95% 88% • Beta showed to be amenable to conventional CIL processing with 86-95% recoveries For personal use only Rie
Slide 22: Environmental, Social & Governance (ESG)
Environmental, Social & Governance (ESG) ESG IS INTEGRAL TO THE DEVELOPMENT STRATEGY AND IS BASED ON: • Conservation of biodiversity • Holistic risk management • Responsible production practices • Zero harm approach to health and safety • Positive impact on host communities For personal use only • E
Slide 23: Combined Minerals Resource Statement (~6.1Moz)
Combined Minerals Resource Statement (~6.1Moz) Combined Mineral Resource Resource Classification Type of Operation Tonnage Gold Grade Gold Content Mt g/t Kg koz Underground 0.091 5.37 489 15.7 For personal use only Measured Open pit Tailings Total Measured 0.091 5.37 489 15.7 Underground 4.774 6.21
Slide 24: Total Mineral Resources of the Mines included in the DFS
Total Mineral Resources of the 4 Mines included in the DFS - Combined as of 1 February 2021 Stope Stope Mineral Resource Reef Grade Reef Width Stope width Content Reef Tonnes Au Content Mine Reef Grade Tonnes Classification g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 10
Slide 25: Mineral Resource Statement – Underground Only (~4.5Moz)
Mineral Resource Statement – Underground Only (~4.5Moz) Mineral Resource Reef Grade Stope Grade Reef Width Stope width Content Reef Tonnes Stope Tonnes Au Content Mine Reef Classification g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 103 520 0.069 0.091 489 15.7 Total Mea
Slide 26: Mineral Resource Statement – Open Pit Only (~1.4Moz)
Mineral Resource Statement – Open Pit Only (~1.4Moz) Reef Grade Reef Width Content Reef Tonnes Au Content Mineral Resource Classification Open Pit Mine Reef g/t cm cm.g/t Mt kg koz Hermansburg Eluvial 1.79 0 0 0.505 905 29.1 DG1 Eluvial 2.24 0 0 0.640 1 432 46.0 DG2 Eluvial 0.66 0 0 1.586 1 041 33.5
Slide 27: Board of Directors and Registered Office
Board of Directors Registered and Principal Office Bill Guy Executive Chairman (Economic Geology) Level 35, International Tower One Richie Yang NED (Corporate Finance) 100 Barangaroo Avenue Bryon Dumpleton NED (Resource Geology) Barangaroo, Sydney, NSW 2000 Brett Tang NED (Funds Mgmt) Telephone: 02
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