Chalice Mining Limited · ASX:CHN
Chalice Mining — Investor Presentation (March 2025)
28 slides from Chalice Mining's investor presentation, Mar 14, 2025
Slide 1: The leading palladium-nickel-copper project in the Western World
The leading palladium- nickel-copper project in the Western World MARCH 2025 ASX:CHN ASX: CHN
Slide 2: Chalice Mining is a leading critical minerals explorer-developer in Western Australia
Chalice Mining is a leading critical minerals explorer-developer in the world’s best mining jurisdiction – Western Australia Discoverer and 100% owner of the largest palladium- nickel-copper Resource1 in the Western World (Gonneville) WESTERN AUSTRALIA Strategic non-binding MOU with Compelling and u
Slide 3: Chalice has a uniquely strong financial position and a stable, highly institutional register
Chalice has a uniquely strong financial position and a stable, highly institutional register Major shareholders3 ASX:CHN 12-month performance ($/share) Tim Goyder 2.50 8% 2.00 Retail/Other 53% 39% Institutional 1.50 Paradice (5%) Others (31%) 1.00 0.50 Capital structure Shares on issue 389M 0.00 Mar
Slide 4: Why palladium? Trump 2.0 policy and hybrid-ICE growth point to recovery
Why palladium? With Trump 2.0 policy settings and rapid growth of hybrid-ICE vehicles – palladium looks poised for recovery Chalice share price (A$/share) vs Palladium spot price (A$/oz, LBMA) 12.00 Chalice Palladium (A$) 4,500 Norilsk 4,000 10.00 flooding Auto destocking / short positioning / 3,500
Slide 5: Why palladium? BEV adoption has plateaued and ICE/hybrid demand grows
Why palladium? Battery electric vehicle adoption has reached a plateau and demand for ICE/hybrid vehicles continues to grow Total passenger vehicle sales (China, US, Europe) Global BEV market share Vehicles with Pd (ICE, Hybrid) Reports of the death of internal combustion have been greatly exaggerat
Slide 6: Why palladium? Supply is concentrated in Russia and South Africa
Why palladium? Supply is concentrated in Russia and South Africa where supply risks are high, disruptions are common, plus recycling is subdued Global Palladium Supply Market Share (2024) A critical input into the global automotive sector relies on a Zimbabwe very unstable and geopolitically problem
Slide 7: Gonneville PGE-Ni-Cu-Co Project Overview
Gonneville PGE-Ni-Cu-Co Project Overview A new long-life, low-cost, low-carbon, strategic critical minerals project in Western Australia Strategic non-binding MOU with Mitsubishi Corporation Top tier development partner, intention to formalise a potential binding partnership post PFS1 Tier 1 scale s
Slide 8: The Project has been substantially de-risked by Chalice since discovery in 2020
The Project has been substantially de-risked by Chalice since our discovery in 2020 Drilled out to Indicated category, to depth of ~450m, Inferred Resources continue to Resource depth of 1,100m Acquired 22km2 of farmland surrounding the Resource in 2021-22, significantly de-risking Tenure / Land the
Slide 9: Recent major metallurgical breakthrough fundamentally simplifies the Project
Recent major metallurgical breakthrough fundamentally simplifies the Project – saleable concentrates across the full grade range Sizing Grinding Oxide feed Crushing Grinding Copper Flotation Nickel Flotation CIL Leach Sulphide feed Blend (~4:1 Sulphide:Oxide) Offtake of Cu- Offtake of Ni-Co-PGE Offt
Slide 10: Metallurgical breakthrough: saleable concentrates and metal recoveries
Recent major metallurgical breakthrough fundamentally simplifies the Project – saleable concentrates across the full grade range Sizing Grinding Oxide feed Crushing Grinding Copper Flotation Nickel Flotation CIL Leach Sulphide feed Blend (~4:1 Sulphide:Oxide) Offtake of Cu- Offtake of Ni-Co-PGE Offt
Slide 11: Simplifying the flowsheet has materially reduced costs and risk
Simplifying the flowsheet has materially reduced costs and risk, and is expected to enhance margins for a bulk open-pit operation Item Impact of new process flowsheet Capital costs • Significant reduction due to removal of hydrometallurgical process (~A$260M) (pre-production) • Significant reduction
Slide 12: The tier-1 scale Gonneville Resource starts at surface with a high-grade core
The tier-1 scale Gonneville Resource starts at surface and has a significant high-grade core which enhances early years of the mine plan Gonneville Resource Plan View Gonneville Resource 3D View looking NNE ~1,200 drill holes for ~320,000m completed since discovery in March 2020 ASX: CHN 12
Slide 13: Gonneville expected to be very competitive with 2nd quartile AISC
With open-pit mining costs and simple low-cost processing, Gonneville is expected to be a very competitive asset, with 2nd quartile AISC PGE industry all-in sustaining cost curve (cash costs plus sustaining CapEx), net of by-product credits, US$/oz 4E 2023A1 Quartile 1 Quartile 2 Quartile 3 Quartile
Slide 14: Gonneville has 'Strategic' and 'Major Project' Status
Gonneville has ‘Strategic’ and ‘Major Project’ Status – formal recognition of the importance of the Project by the WA and Federal Governments September 2024: Awarded ‘Strategic Project Status’ by the WA State Government • Awarded by the WA Premier Hon Roger Cook MLA and Department of Jobs, Tourism,
Slide 15: Beyond Gonneville, >40 targets defined in the West Yilgarn Province
Beyond Gonneville, Chalice has defined >40 Cu-Au-Ag and Ni-Cu-PGE targets in the West Yilgarn Province • ~1,200km long western margin of the Yilgarn craton largely covered by Chalice’s ~8,000km2 exploration licence holding Narryer Project • Exciting new search space for intrusion-related / WESTERN o
Slide 16: Gold-copper focus at Barrabarra has yielded new targets
Gold-copper focus at Barrabarra has yielded exciting new targets, with follow up drilling planned in the current quarter • Exciting new large-scale gold targets at the 4,600km2 Barrabarra Project • Recherche West – 15km long gold- in-soil anomaly • Warspite – 2km long gold-in-soil anomaly • New geol
Slide 17: Chalice is fully funded to progress development and exploration
Chalice is fully funded to progress key development and exploration activities, with ~A$90M in cash and listed investments Milestones achieved Status Forward Plan1 Status Gonneville discovery Gonneville variability testwork and Ongoing Mar-20 flowsheet optimisation Gonneville Pre-Feasibility Study (
Slide 18: Summary and key value drivers
Summary Chalice owns the leading palladium-nickel-copper development project in the Key value drivers western world 1. Palladium price recovery driven by Trump 2.0 policies, slowing BEV uptake, strong ICE/hybrid vehicle sales and structural challenges in supply Chalice’s team has a track 2. Gonnevil
Slide 19: Appendix
Appendix ASX: CHN
Slide 20: Cautionary statements and competent person(s) disclosure
Cautionary statements and competent person(s) disclosure Authorisation Forward Looking Statements This Presentation has been authorised for release by the Disclosure Committee. This Presentation may contain forward-looking statements and forward information, (collectively, forward-looking statements
Slide 21: Cautionary statements and competent person(s) disclosure (cont'd.)
Cautionary statements and competent person(s) disclosure (cont’d.) Reliance on Third Party Information materially modified from the relevant original market announcements. The views expressed in this Presentation contain information that has been derived from third party sources that have not been P
Slide 22: Our discovery in 2020 defined the Company's DNA
Our discovery in 2020 defined the Company’s DNA – we have a dual focus on developing Gonneville and making further discoveries 01 02 03 Generate New Discoveries Define New Resources De-Risk Development • Conceptualise, define and prioritise new • Make new major discoveries and turn them • Define pro
Slide 23: Board of Directors and Executive Management
Board of Directors and Executive Management Board of Directors Key Management Derek La Ferla, Non-Executive Chair Chris MacKinnon, CFO • Highly regarded ASX200 chair and company director with • Qualified accountant and lawyer with 15+ years experience of 30+ years experience as a corporate lawyer pr
Slide 24: Big critical minerals discoveries are becoming increasingly rare
Big critical minerals discoveries are becoming increasingly rare in the western world – demand is likely to outpace supply over long term Number of base metal (Ni, Cu, Zn, Pb) discoveries in the World by size – 1900-2021 Post WWII boom and new Rise of China and surge in 60 modern exploration tools e
Slide 25: Our approach to sustainability
Our approach to sustainability: Deliver sustained shared value through responsible sustainability practices Our Sustainability Vision and Pillars Strong Environmental Manage Climate Create Value for Healthy and Safe Stewardship Change Risk Stakeholders Workforce The Gonneville Project is located on
Slide 26: The rare Gonneville Resource has high-grade optionality and growth potential
The rare Gonneville critical minerals Resource has high-grade optionality and compelling growth potential High Grade Mineral Resource Estimate1: Gonneville NSR Grade-Tonnage table2 • 59Mt @ 2.0g/t 3E (Pd+Pt+Au), 0.20% Ni, 0.21% NSR Cut-off NSR Cut-off in Total Mass Grade in-pit MSO Cu, 0.019% Co A$/
Slide 27: Higher-grade sulphide component of Gonneville Resource, 23 April 2024
Higher-grade sulphide component of Gonneville Resource (in pit and underground), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal (Mt) Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%) Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt) Measured 0.8 2.3 0.45 0.05 0.37 0
Slide 28: Gonneville Mineral Resource Estimate (JORC Code 2012), April 2024
Gonneville Mineral Resource Estimate (JORC Code 2012), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal (Mt) Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%) Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt) Measured - - - - - - - - - - - - - Indicated 7.0 1.9 - 0.05