Chalice Mining Limited · ASX:CHN
Chalice Mining — Resources Rising Stars Gold Coast 2024
34 slides from Chalice Mining's conference presentation, Sep 3, 2024
Slide 1: The premier palladium-nickel-copper development project in the western world
For personal use only The premier palladium- nickel-copper development project in the western world Resources Rising Stars Gold Coast 3-4 SEPTEMBER 2024 ASX:CHN
Slide 2: Chalice Mining – a unique critical minerals explorer-developer
Chalice Mining – a unique critical minerals explorer-developer, highly leveraged to palladium price recovery Tier 1 scale Resource in WA – the Gonneville Project For personal use only • 100% ownership of one of the largest undeveloped PGE-Ni-Cu-Co (critical minerals) resources in the western world •
Slide 3: ASX300 listed critical minerals explorer-developer with strong financial position
Chalice is an ASX300 listed specialist critical minerals explorer-developer with a uniquely strong financial position and institutional register Major shareholders3 ASX:CHN 6-month performance For personal use only Tim Goyder 2.00 11% 1.80 Retail/Other 1.60 Institutional 1.40 Paradice (5%) 53% Goldm
Slide 4: Why palladium and platinum? Los Angeles 1998
Why palladium and platinum? This was a common sight in the 90’s, prior to the adoption of catalytic converters Los Angeles 1998 For personal use only ASX:CHN 4
Slide 5: Catalytic converters have driven improvement in air quality
Palladium and platinum based catalytic converters have driven a remarkable improvement in air quality and health globally Los Angeles 2020 For personal use only ASX:CHN 5
Slide 6: Why palladium? BEV adoption plateau and hybrid growth
Why palladium? Battery electric vehicle adoption has reached a plateau and hybrid EV sales are growing rapidly Battery electric vehicle (BEV) market share (China, US, Europe) For personal use only ~0% • Western car manufacturers are scaling back their 17% 18% 17% 18% 19% 19% BEV growth ambitions, an
Slide 7: Why palladium? Supply concentrated in Russia and South Africa
Why palladium? Supply is concentrated in Russia and South Africa – supply risks are high, disruptions are common and recycling is subdued • Palladium production is dominated by ageing, deep, under-invested mining complexes in Russia and South Africa For personal use only • Western mines are rapidly
Slide 8: PGE prices are deep into the cost curve and unsustainable
PGE prices are deep into the cost curve and unsustainable – given strength of demand, pricing could revert to incentive levels in near term PGE industry all-in sustaining cost curve (cash costs plus sustaining CapEx), net of by-product credits, US$/oz 4E 2023A1 For personal use only Quartile 1 Quart
Slide 9: Gonneville PGE-Ni-Cu-Co Project Overview
Gonneville PGE-Ni-Cu-Co Project Overview A new long-life, low-cost, low-carbon critical minerals project in Western Australia Strategic MOU in July 2024 with Mitsubishi Corporation For personal use only Tier 1 development partner, intention to formalise a potential binding partnership post PFS1 Tier
Slide 10: Gonneville development optionality and PFS priorities
Gonneville has significant development optionality and the priority of the ongoing PFS is to improve recoveries and finalise the starter flowsheet Indicative study, approvals and development flowchart For personal use only ~18 months ~12 months Pre-Feasibility Study Feasibility Study Final Phase 1:
Slide 11: The rare, tier-1 scale Gonneville Resource has high-grade optionality
The rare, tier-1 scale Gonneville Resource has high-grade optionality and compelling growth potential High Grade Mineral Resource Estimate1: Gonneville NSR Grade-Tonnage table2 For personal use only • 59Mt @ 2.0g/t 3E (Pd+Pt+Au), 0.20% Ni, NSR Cut- NSR Cut- Total Mass Grade off in-pit off in MSO 0.2
Slide 12: Remodelling of high-grade sulphide zones and selective mining
Remodelling of the Gonneville high-grade sulphide zones has allowed investigation of selective open-pit/underground mining techniques For personal use only ASX:CHN 12
Slide 13: Starter project process flowsheet
Starter project process flowsheet to target simple products with staging options being evaluated in the initial phase of the PFS Sizing Grinding For personal use only Oxide feed Pd-Au Leach Crushing Grinding Copper Flotation Nickel Flotation Sulphide feed Offtake of doré to western precious metal re
Slide 14: Flotation performance across geo-met domains
Understanding flotation performance across the geo-met domains provides significant opportunity for improvements in recovery • Significant variability in grade, For personal use only mineralogy and metal ratios between domains High-sulphide, base metal-rich mineralised zones Up to 11g/t 3E, 2% Ni, 1
Slide 15: Initial PFS testwork shows potential for improved recoveries
Initial PFS testwork shows potential for improvements in metal recoveries and project economics • Gonneville project economics are highly leveraged to • Recent testwork identified that partial oxidation/staining of For personal use only improvements in metallurgical recovery – initial focus of PFS s
Slide 16: Offtake terms expected to be attractive
Offtake terms are expected to be attractive given high-grade of products, low impurities and IRA-compliant source Copper-PGE-Au Ni-PGE-Co Nickel-Cobalt Mixed For personal use only Concentrate Concentrate Hydroxide Precipitate (MHP) • High value concentrate with negligible • High value concentrate wi
Slide 17: Unlocking full value of Gonneville through upside opportunities
Unlocking the full value of Gonneville through upside opportunities in mining, processing and commercial areas is underway [Orange] = Near term priorities Assessed upside potential For personal use only • Early high-grade underground mining in parallel to open-pit phase and block/sub-level caving op
Slide 18: Gonneville type geology intersected over ~10km strike length
Gonneville type mafic-ultramafic geology and magmatic sulphides have been intersected over a ~10km strike length 3D view (looking ESE) of the Julimar Complex, Gonneville Resource and soil geochemistry For personal use only Dampier Prospect Gonneville Project • ~3km long section of the Julimar Comple
Slide 19: Beyond Gonneville: >40 targets in the West Yilgarn Province
Beyond Gonneville, Chalice has defined >40 Cu-Au-Ag and Ni-Cu-PGE targets in the West Yilgarn Province – near-term focus is Cu-Au For personal use only • ~1,200km long western margin of the Yilgarn craton largely covered by Chalice’s ~10,000km2 Narryer Project exploration licence holding WESTERN • E
Slide 20: Exploration focus shifted to gold-copper targeting
Exploration focus shifted to gold-copper targeting in early 2024, with exciting new targets defined • Exciting new large-scale gold targets at the 4,600km2 For personal use only a a a a o ect e ecto Barrabarra Project nte ete geo og an soi h istmas it geochemist o e egiona T gga ing • Recherche West
Slide 21: Recherche West and Warspite targets untested by drilling
The large-scale Recherche West and Warspite targets are completely untested by drilling and in favourable geological settings For personal use only Initial ~7,000m AC drill program testing both large-scale targets to commence in Q4 CY2024 21
Slide 22: Fully funded to progress development and exploration
Chalice is fully funded to progress key development and exploration activities, with ~A$111M in cash and listed investments Progress to date Status Forward Plan1 Status For personal use only Gonneville discovery Gonneville metallurgical testwork and Ongoing Mar-20 flowsheet development Staking of We
Slide 23: Summary: key value drivers and upcoming catalysts
Summary For personal use only Chalice holds the premier palladium-nickel-copper development project in the Key value drivers and upcoming catalysts western world 1. PGE price recovery driven by slowing BEV uptake and strong ICE/hybrid sales 2. PFS testwork – confirmation of metallurgical ha ice’s te
Slide 24: Appendix
For personal use only Appendix
Slide 25: Track record of discovery and large-scale project development
Chalice’s team has a track record of discovery and large-scale project development Board of Directors Key Management Derek La Ferla, Non-Exec Chair Chris MacKinnon, CFO For personal use only • Highly regarded ASX200 chair and company director with 30+ • Qualified accountant and lawyer with 15+ years
Slide 26: Our approach to sustainability
Our approach to sustainability: Deliver sustained shared value through responsible sustainability practices For personal use only Our Sustainability Vision and Pillars Strong Environmental Manage Climate Create Value for Healthy and Safe Stewardship Change Risk Stakeholders Workforce The Gonneville
Slide 27: Since our 2006 IPO, we have acquired quality assets and generated returns
Since our 2006 IPO, we have acquired quality assets, advanced projects quickly and generated exceptional returns 2023 2024 Gonneville MOU with 2012 For personal use only 2022 Scoping Study Mitsubishi completed signed Zara Gold Project in 2020 $100M raised 2006 Eritrea sold for 2016 Major PGE- to pro
Slide 28: Critical mineral discoveries are very rare
The fate of decarbonisation rests on the explorers who must find the critical minerals – the big discoveries are very rare Number of base metal (Ni, Cu, Zn, Pb) discoveries in the World by size – 1900-2021 50 only Post WWII boom and new Rise of China and surge in 60 modern exploration tools explorat
Slide 29: What are we targeting in the West Yilgarn?
What are we targeting in the West Yilgarn? Tier-1 scale orthomagmatic Ni-Cu+/-PGE deposits, using a minerals system approach Craton Margin Setting For personal use only • Preferred siting close to craton margins • Favourable lithospheric architecture at craton margins facilitates passage of melt fro
Slide 30: Higher-grade sulphide component of Gonneville Resource
Higher-grade sulphide component of Gonneville Resource (in pit and underground), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal For personal use only (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.
Slide 31: Gonneville Mineral Resource Estimate (JORC 2012), April 2024
Gonneville Mineral Resource Estimate (JORC Code 2012), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal For personal use only (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 - - - - - - - - - - - - - In
Slide 32: 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 33: Cautionary statements and competent person(s) disclosure (cont'd)
Cautionary statements and competent person(s) disclosure (cont’d.) Reliance on Third Party Information Production Targets and Forecast Financial Information The views expressed in this Presentation contain information that has been derived from third party sources that have The production targets an
Slide 34: Visit our website and sign up to receive our latest news
For personal use only Visit our website and sign up to receive our latest news chalice-mining @ChaliceMining www.chalicemining.com Level 3, 46 Colin Street West Perth WA 6005, Australia +61 8 9322 3960 info@chalicemining.com ABN 47 1 16 648 956
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