Challenger Gold Limited · ASX:CEL
Challenger Gold — Noosa Mining Conference 2024
22 slides from Challenger Gold's conference presentation, Nov 14, 2024
Slide 1: Challenger Gold Limited - Noosa Mining Conference
For personal use only ASX: CEL Challenger Gold Limited Noosa Mining Conference 14 November 2024 Hualilan Gold Project : Cerro Sur looking north to Cerro Norte Challenger Gold Limited Argentina and Ecuador Gold / Copper Projects 1
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER DISCLAIMER This presentation is for informational purposes only and does not constitute an offer to sell, or solicitation to purchase, any securities. Such Offer can be made only through proper subscription For personal use only documentation and only to investors me
Slide 3: Important Notices and Disclaimer - Scoping Study Cautionary Statement
IMPORTANT NOTICES AND DISCLAIMER SCOPING STUDY CAUTIONARY STATEMENT For personal use only The Scoping Study referred to in this presentation has been undertaken to determine the viability of a development of Challenger Gold Limited's (CEL) Hualilan Gold Project and confirm the business case to progr
Slide 4: Challenger Gold Snapshot
CHALLENGER GOLD SNAPSHOT Two significant discoveries, both with grade and scale, provide strategic flexibility Hualilan Gold Project El Guayabo Gold-Copper Project 100% Owned 50-100% - El Oro; Ecuador For personal use only 2.8 Moz1 AuEq Resource EL GUAYABO/COLORADO V GOLD - 4.5Moz2 AuEq COPPER PROJE
Slide 5: The New Challenger Gold
THE NEW CHALLENGER GOLD Transformational Transaction to become a producer Toll Milling Agreement coupled with a Strategic Placement to transition CEL to producer For personal use only Toll Milling Agreement ➢ “tolling 3% of the resource to ▪ Toll Milling Agreement covering 85,550 high-grade ounces a
Slide 6: Share Price and Key Events Since IPO in 2019
SHARE PRICE AND KEY EVENTS SINCE IPO IN 2019 The past 3-year bear market for gold explorers and developers has created an investment opportunity $42M 2.8 Moz Hualilan Ecuador 5-Rigs Raise at 1.8 Moz resource Scoping Drilling drilling Hualilan Gold For personal use only starts 0.28 Resource Study Hua
Slide 7: Hualilan Gold Project (before)
Hualilan Gold Project (before) taken 11 October 2019 GNDD-001 in maiden 2000 metre drill program For personal use only 7
Slide 8: Hualilan Gold Project (after)
Hualilan Gold Project (after) taken 6 August 2022 GNDD-725 in progress for 200,000 metres of drilling For personal use only 8
Slide 9: Hualilan Gold Project, San Juan Argentina
For personal use only Hualilan Gold Project San Juan Argentina 9
Slide 10: Hualilan Gold Project – Political Considerations
HUALILAN GOLD PROJECT – POLITICAL CONSIDERATIONS Investment climate in Argentina has transformed from negative to positive Located in San Juan Argentina ▪ Voted number 1 mining jurisdiction in South American in the For personal use only Jose Maria most recent Fraser Institute Survey Lundin Group Bar
Slide 11: Mineral Resource Estimate (MRE)
MINERAL RESOURCE ESTIMATE (MRE) Grade tonnage distribution provides significant optionality and flexibility ▪ Mineral Resource Estimate (MRE) increases to 2.8 million ounces (AuEq)1 . Total MRE at various cut off grades For personal use only Cut-off (g/t Au Ag Zn Pb AuEq Oz ▪ High-grade core the foc
Slide 12: Building a District Scale Footprint at Hualilan
BUILDING A DISTRICT SCALE FOOTPRINT AT HUALILAN Discoveries like Hualilan seldom occour in isolation – hence a 600 sqkm footprint which is unexplored 2.8 Moz 2.5 km 5.0 km 54.4 g/t Au, 151 g/t Ag 12.1 g/t Au, 62.1 g/t Ag For personal use only Resource Resource Ion Leach (marked in red) Strike Copper
Slide 13: Scoping Study – Key Deliverables (Starting Point)
SCOPING STUDY – KEY DELIVERABLES (STARTING POINT) Study targeted the high-grade core of the deposit to ensure a credible funding pathway Objectives of the Scoping Study targeting ▪ The Scoping Study focussed on the high-grade core of the mineralisation (1.5 Moz at 5 g/t AuEq). For personal use only
Slide 14: CEL – Forecast to Enter the Top ASX Producers
CEL – FORECAST TO ENTER THE TOP 20 ASX PRODUCERS Average forecast Annual Production of 141,000 oz AuEq LOM ▪ The Hualilan Scoping Study shows CEL is forecast to enter the top 20 largest ASX Listed producers. ▪ The project is forecast to produce 116,000 oz Au, 440,000 oz Ag, 9,175 t Zn, 474 t Pb (141
Slide 15: Significant Increase in Scale for PFS Base Case
SIGNIFICANT INCREASE IN SCALE FOR PFS BASE CASE Several material opportunities to significantly improve the Study Outcome identified ▪ Recovery of part of the 1.5Moz AuEq remaining after the Scoping Study due to the high-grade/ low-tonnage focus Evaluation of add-on heap leach processing option For
Slide 16: A Different Strategy Needed
A DIFFERENT STRATEGY NEEDED Significant Value Add to Hualilan and Ecuador during 2024 for no gain to shareholders Milestones Delivered during 2024 ✓ April 2024 - Hualilan Exploration Update -5km copper target For personal use only ✓ April 2024 – Strategic decision of monetise Ecuador assets Signific
Slide 17: Move to early cashflow at Hualilan
For personal use only Move to early cashflow at Hualilan “The only viable solution in this climate” 17
Slide 18: The Transaction – Binding Term Sheet Executed
THE TRANSACTION – BINDING TERM SHEET EXECUTED Toll Milling Agreement coupled with a Strategic Placement Toll Treatment Agreement For personal use only ▪ agreement to Toll Mill a minimum 150,000t of Hualilan ore per annum over a minimum of 3 years ▪ includes funding for mining, trucking and processin
Slide 19: Toll Milling Mine Plan
TOLL MILLING MINE PLAN Very small portion of overall Mineral Resource to be toll milled to facilitate stand-alone development ▪ Toll Milling has minimal impact on stand-alone project development For personal use only Sanchez Pit Sentazon Pit Cerro Norte Pit Magnata Pit ▪ No change in cash cost or an
Slide 20: Next Steps
NEXT STEPS Toll Milling Agreement coupled with a Strategic Placement Milestones prior to the commencement of Toll Milling For personal use only ▪ Initial Diligence report on the Toll treatment plant and the viability of the restart site visit complete report pending ▪ Receipt of metallurgical testwo
Slide 21: Challenger Gold Limited contact details
CHALLENGER GOLD LIMITED (ASX:CEL) ACN 123 591 382 Level 1, 1205 Hay Street, West Perth WA 6005 | P: +61 8 6380 9235 Challenger Gold Limited For personal use only ASX Ticker : CEL Kris Knauer Sergio Rotondo Sonia Delago Jane Morgan CEO & Managing Director Executive Chairman Executive Director Media R
Slide 22: Mineral Resource Estimates and AuEq Information
MINERAL RESOURCE ESTIMATES AND AUEQ INFORMATION JORC 2012 Compliant MRE’S released March 2023 and June 2023 Au Ag AuEq 1 Gold Equivalent (AuEq) values Hualilan Gold Project- Requirements Categor g/t g/t Zn % Pb % AuEq g/t (Mozs) Domain Mt under the JORC Code (El Guayabo Gold-Copper Project) y For pe