Matsa Resources Ltd · ASX:MAT
Matsa Resources — RIU Sydney Resources Round-up 2024
44 slides from Matsa Resources's conference presentation, May 9, 2024
Slide 1: Corporate Presentation – RIU Sydney Resources Round-up
Corporate Presentation RIU Sydney Resources Round-up Gold Production Commencing in 2024 ASX:MAT 7-9 May 2024
Slide 2: Matsa Corporate Overview
Matsa Corporate Overview Gold Resource Resource Grade Shares on Issue DIRECTORS 936,000 oz 2.5g/t 550.42M Paul Poli Executive Chairman Mr Poli is a CPA with over 34 years of business and corporate experience. He founded Matsa Resources and has spearheaded M&A deals with Panoramic, Bulletin, Westgold
Slide 3: 936,000 Ounces of Gold With A Twist Of Lithium
Ob WATSA RESOURCES "936,000 Ounces of Gold With A Twist Of Lithium
Slide 4: Lake Carey Gold Project
Lake Carey Gold Project Fortitude North Drilling 2023
Slide 5: Lake Carey Gold Project – 936,000oz Au
Lake Carey Gold Project – 936,000oz Au ^ Notes: The Resource the Devon pit, representing 65koz, is subject to the JVA with Linden Gold “Refer ASX announcement dated 30 April 2024. There has been no change to the mineral resource since this release.
Slide 6: Regional Setting
Regional Setting Lake Carey Gold Project - a world class setting • 449km2 high quality tenement position in eastern goldfields region • Exploration has delivered a 213% increase in resource since June 2020 from 439koz @ 2.3g/t to 936koz @ 2.5g/t • JORC resource of 936koz @ 2.5g/t Au with identified
Slide 7: Lake Carey Gold Project
Lake Carey Gold Project A substantial golden opportunity • 3 Gold Mines o Fortitude Gold Mine o Devon Pit Gold Mine o Red October Underground Gold Mine • A world class exploration target o Fortitude North • Pipeline of quality greenfields and brownfields exploration targets to be drilled including:
Slide 8: Lake Carey Gold Project
Lake Carey Gold Project A substantial golden opportunity • 3 Gold Mines o Fortitude Gold Mine o Devon Pit Gold Mine o Red October Underground Gold Mine • A world class exploration target o Fortitude North • Pipeline of quality greenfields and brownfields exploration targets to be drilled including:
Slide 9: Poised to Realise True Value
Poised to Realise True Value We have the assets and funding to create significant value following a successful and oversubscribed capital raise Devon Pit Gold Mine • Finalise permitting and funding for Devon gold mine - 1H 2024 • Finalise Ore processing agreement - 2H 2024 • Finalise mining Agreemen
Slide 10: Strategic Roadmap
Strategic Roadmap 5 Years 2+ Develop diversified international mining portfolio YEARS 2+ 4 YEARS 2-3+ Dividend returns to shareholders Develop Fortitude Reward investment with mines capital growth 2 YEARS 0-2 Resource drilling at Lake 1 YEAR 0 Carey Mining Devon Pit Gold Mine Generating Cashflows an
Slide 11: Devon Pit Gold Mine to Fund Matsa
Devon Pit Gold Mine to Fund Matsa Cash Pipeline from Devon Pit Gold Mine
Slide 12: Devon Pit – Mining This Year
Devon Pit – Mining This Year Strong Cashflow potential of A$37M* • Negotiating mining contracts • Negotiating milling and processing contracts • Updated optimisations at current gold price • Finalising mine designs, schedules and cash flow • Planned mining to commence 2H 2024 • *Cash surplus of A$37
Slide 13: Devon Pit Gold Mine to Fund Matsa
Devon Pit Gold Mine to Fund Matsa Cash Pipeline from Devon Pit Gold Mine
Slide 14: Timeline to Profit at Devon
Timeline to Profit at Devon $35M - $45M Mine designs, Regulatory Mining Total Project Surplus commences 2H 2025* schedules, cash flow approvals May 2024 June 2024 October 2024 First profit payment December 2024 Mining Term Drilling Mining Dewatering Sheet September 2023 March 2024 agreement commence
Slide 15: Devon Pit – Sensational Gold Results – West Lode
Devon Pit – Mining This Year Sensational Gold Results – West Lode* • 2.0m @ 16.18g/t Au from 18m (DVWL001) • 4.0m @ 13.44g/t Au from 55m (DVWL003) • 1.0m @ 50.30g/t Au from 47m (DVWL005) • 6.0m @ 36.16g/t Au from 48m (DVWL007) • 5.0m @ 10.91g/t Au from 47m (DVWL010) • 4.0m @ 32.07g/t Au from 29m (DV
Slide 16: Devon Pit – Sensational Gold Results – Main Lode
Devon Pit – Mining This Year Sensational Gold Results – Main Lode* • 3.0m @ 7.00g/t Au from 24m (DVN002) • 3.0m @ 5.21g/t Au from 11m (DVN005) • 2.0m @ 8.55g/t Au from 48m (DVS003) • 4.0m @ 11.79g/t Au from 68m (DVS008) • 2.0m @ 6.72g/t Au from 69m (DVS010) * All results are downhole intercepts
Slide 17: Permitting
Permitting Final Approvals Expected June 2023
Slide 18: Expanded Fortitude Gold Mine
Expanded Fortitude Gold Mine Fortitude Gold Mine: • Fully permitted and mine ready • An amalgamation of 3 trial pits, completed by Matsa in 2018 Fully permitted and mine ready
Slide 19: Fortitude Gold Mine
Fortitude Gold Mine Gold Resource of 489,000oz • 1km long open pit down to 190m depth • Granted Mining Lease with approved Mining Proposal (MP) in place allowing immediate start of mining • Completed scoping study outlines production of 132,000oz across 30 months generating >A$95M* surplus (@ A$2,40
Slide 20: Fortitude North - Matsa Discovery
Fortitude North - Matsa Discovery • 1.7km long mineralised zone open along strike with strong potential to increase with drilling expected to commence in the near term • Along strike and 6km north of Fortitude Gold Mine (0.5Moz) • Regional structure >30km strike • Mineralisation structurally control
Slide 21: Fortitude North - Matsa Discovery
Fortitude North - Matsa Discovery • 1.7km long mineralised zone open along strike with strong potential to increase with drilling expected to commence in the near term • Along strike and 6km north of Fortitude Gold Mine (0.5Moz) • Regional structure >30km strike • Mineralisation structurally control
Slide 22: Fortitude North
Fortitude North • semi – regional dextral shear duplex which has controlled the emplacement of the World Class (12 Moz) Sunrise Dam Gold Deposit (SD) and the World Class (7 Moz) Wallaby Gold Deposit (W) • The same major geologic structure has also controlled the gold mineralisation at Fortitude (F),
Slide 23: Fortitude North Drilling
Open Fortitude North Drilling • 1.7km long mineralised zone open along strike with strong potential to increase with drilling expected to commence in the near term • Seven of the top twelve intercepts at Fortitude North have come from the 2023 program*: • 25m @ 3.3g/t Au from 147m (23FNRC006) • 14m
Slide 24: 2023 Fortitude North Drilling
2023 Fortitude North Drilling Sensational thicknesses Significant volume change in lode orientation and size: Previous best intercept: • 9.6m @ 3.3g/t Au from 128m New best intercept: • 14m @ 3.4g/t Au from 113m and • 35m @ 3g/t Au from 150m incl. 4m @ 6.5g/t Au from 153m; and 5m @ 5.6g/t Au from 17
Slide 25: EIS / Drilling and Targeting
EIS / Drilling and Targeting Modelled magnetic 800m hole anomaly • Proof of concept drilling to test for potential mineralised structures below current drilling • Known prospectivity with coincident magnetic and seismic signatures below existing mineralisation • Supported by Western Australia’s EIS
Slide 26: Red October
Red October Red October oblique view looking (grid) NE 244,000 ounces Au @ 5.6g/t More to be found! Open • Lionfish strike extensions (open in both directions) • Lionfish resource gap infill (zone B) • Intersection of Lionfish and Western target (zone C) Open • Nemo (southern extension of mine to SW
Slide 27: M&A Activity
M&A Activity EV/Oz Avg EV/Oz Recent M&A activity for ASX listed WA pre-production assets (Refer Appendix 1 for full references including resource breakdown and transaction announcement date) $218.9/oz $216 .8/oz $176.3/oz $8 8 .0/oz $9 3.7/oz $77.6/oz $6 7 .7/oz $6 5 .9/oz $5 3.8/oz $5 1 . 1 /oz $39
Slide 28: M&A Activity
M&A Activity Recent M&A activity for ASX listed WA pre-production assets (Refer Appendix 1 for full references including resource breakdown and transaction announcement date) 1.85g/t Au * 0.29 moz * Linden Gold Alliance Limited announcement 27 October – merger with Lord Bryon Mining, 292,900oz @ 1.8
Slide 29: Lithium in Thailand
Lithium in Thailand Pink Panther (Kanchanaburi) lithium pegmatite outcrop striking to the NE
Slide 30: Thailand Government EV Policy
Thailand Government EV Policy • Number of recent news articles in relation to Thailand’s push to support a local EV industry and provide locally supplied lithium products from mining to battery production in Thailand • Thailand government has provided significant incentives to attract international
Slide 31: Integrated Government Solutions
Integrated Government Solutions • A government focus on securing lithium for EV/batteries but currently means high level of imports • Government now exploring upstream requirements to generate domestic supply • High level discussions surrounding requirements to realise a vertically integrated lithiu
Slide 32: This is GOOD NEWS for Matsa
This is GOOD NEWS for Matsa • Matsa has been recognised as potential key to Thailand’s local lithium supply chain • Matsa has met with Thailand’s Prime Minister’s office to discuss lithium exploration and mining in Thailand • Thailand Government is assisting Matsa to fast track its lithium developme
Slide 33: Pathway to Mining
Pathway to Mining • DPIM “tasked” with assisting and expediting lithium exploration and mining in Thailand • First 2 of 9 priority tenements granted to Matsa • Further 4 SPL and 3 EPL applications progressing through granting process • Granted tenements allow drilling operations to be conducted • Ma
Slide 34: Thailand and Lithium
Thailand and Lithium Investing in Matsa is Good Timing TODAY • Arguably, Matsa holds the largest tenement applications for lithium exploration in south- east Asia • Excellent long term relationships with regulatory authorities • Matsa’s exploration has discovered lithium mineralisation at Phang Nga,
Slide 35: Matsa’s Lithium Outcrop Discoveries
Matsa’s Lithium Outcrop Discoveries
Slide 36: Matsa’s Lithium Outcrop Discoveries
Matsa’s Lithium Outcrop Discoveries
Slide 37: Testwork Results
Testwork Results Leaching Grade Leaching Slag rate Leaching Sample solution Commentary Li2O (% ) slag Li2O (% ) （% ） rate (% ） Li2O（g/L) Pink Panther DSO 1.65% 9.82 0.11% 82.5 94.50% Roasting is feasible Rose Panther DSO 2.44% 12.34 0.27% 80.8 91.06% Roasting is feasible Pink panther concentrate 4.0
Slide 38: Disclaimer
Disclaimer Disclaimer and Forward Looking Statements This presentation has been prepared by Matsa Resources Limited (“Matsa” or the “Company”). It should not be considered as an offer or invitation or inducement to subscribe for or the purchase of any securities in the Company. This presentation may
Slide 39: Contact Us
Contact Us Paul Poli Executive Chairman reception@matsa.com.au 39
Slide 40: Appendix 1: Pre-production WA Gold M&A Peer Comparison
Appendix 1: Pre-production WA Gold M&A Peer Comparison Information & References Acquirer Target Stage Date Deal Value EV/oz MEASURED INDICATED INFERRED TOTAL GRADE Source ($Am) ($AUD/oz) (Koz) (Koz) (Koz) RESOURCE (g/t) (Koz) Northern Star Strickland Minerals Limited Resource Development Jun-23 $61.
Slide 41: Matsa’s Lithium Outcrop Discoveries
Matsa’s Lithium Outcrop Discoveries
Slide 42: Matsa’s Lithium Outcrop Discoveries
Matsa’s Lithium Outcrop Discoveries
Slide 43: Chok Dee Panther
4 s rs: ms High Lépidolite ehiriched pegimatit
Slide 44: Matsa’s Lithium Outcrop Discoveries
Matsa’s Lithium Outcrop Discoveries