Slide 1: Building a Critical Metals Business in the World's Best Mining Jurisdiction
For personal use only PIVOTAL METALS LTD Investor Presentation - PDAC BUILDING A CRITICAL METALS BUSINESS IN ASX:PVT THE WORLDS BEST March 2024 MINING JURISDICTION
Slide 2: Disclaimer
Disclaimer For personal use only The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe s
Slide 3: Investment Highlights
Investment Highlights We have quality assets, well positioned For personal use only We Have Critical Metals Leverage We Have High Quality Assets • Copper and Nickel • Horden Lake • Building blocks of energy transition • 27.8mt @ 1.49% CuEq2 • Robust inter-generational demand drivers • Significant ex
Slide 4: Quebec Battery Metals Portfolio
Quebec Battery Metals Portfolio Premier global mining location For personal use only ‘Flow-through scheme’ tax incentives • Flow through tax incentives: Quebec has the highest tax credit in Canada for critical metals. • A$3.9m raise at 84% premium in May 2023. C$2.6B raised in 2021-2022 across Canad
Slide 5: Horden Lake
For personal use only Horden Lake 28Mt at 1.5% CuEq* CU-NI-PGM DEVELOPMENT PROJECT The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and that all material assumptions and technical parameters underpinning th
Slide 6: Horden Lake
Horden Lake Asset of scale with upside ready to be unlocked For personal use only 27.8 mt @ 1.49 % CuEq ✓ 412kt contained CuEq ✓ Cu 0.73%, Ni 0.22%, 0.19 g/t Pd, 0.12 g/t Au ✓ 55% indicated category ✓ 62% in open pit shell ✓ Deposit starts at surface Exploit Upside, Advance Project 2024 Program Comm
Slide 7: Valuation Opportunity
Valuation Opportunity When compared to ASX peers on a $EV per contained CuEq basis 800 For personal use only 300 Resource kt CuEq contained Trading Multiple: EV $/t CuEq 600 (columns) 200 (dots) 400 100 200 0 0 Company SUH HMX PVT MAG CNB QML NTM Ave Project Llahuin Kalman Horden Lake Myall Greater
Slide 8: Tonnage Upside
Tonnage Upside Strong mineralisation open in most directions For personal use only 16m @ 1.22% CuEq (291m) 11m @ 0.9% CuEq (61m) H33280, 0.4% Cu, 0.3% Ni, 0.2g/t Pd H25301, 0.2% Cu, 0.2% Ni, 0.2g/t Pd Inc. 6.8m @ 1.5% CuEq (298m) Inc. 1m @ 2.8% CuEq (67m) 9.8m @ 1.6% CuEq (206m) 4.8m @ 2.6% CuEq (52
Slide 9: Grade Upside
Grade Upside Byproduct credits missing from the resource For personal use only Historical focus only on Cu and Ni Gold domain • But 2008/12 drilling assayed multi element • Au, Ag, Co, Pt, Pd all consistently encountered Copper domain Current resource understates grade • Gold currently only modelled
Slide 10: Geological Setting
Geological Setting Strong structural control for mineralisation For personal use only ✓ Mineralisation style supports good potential for resource extension ✓ Magmatic sulphide deposit associated with mafic and ultramafic rocks ✓ Mineralisation occurs along the contact of the gabbroic complex and met
Slide 11: Metallurgy
Metallurgy Excellent potential shown. Optimisation planned. For personal use only Good metals recoveries shown in historical work Conceptual Sequential Flotation Flowsheet ✓ Bulk flotation rougher: 95% Cu, 66% Ni, 74% Au, 84% Co, in 23% Cu con (RDI 2012) ✓ RDI demonstrated good nickel flotation, but
Slide 12: Development Considerations
Development Considerations Conventional project with low development hurdles For personal use only 62% of resource is pit constrained ✓ Low cost open pit front-end potential Thick zones of mineralisation, at 50-60 dip ✓ Amenable to bulk mining techniques Positive metallurgy ✓ 95% Cu to 23% con in ro
Slide 13: Belleterre-Angliers Greenstone Belt (BAGB)
For personal use only Belleterre-Angliers Greenstone Belt (BAGB) EARLY-STAGE EXPLORATION ASSETS WITH LORRAINE SUBSTANTIAL POTENTIAL 13
Slide 14: BAGB
BAGB Ultra high-grade mineralisation defined For personal use only • 157km2 land package covering a prospective suite of gabbroic intrusives in southern Quebec • Ultra-High grades drilled into gabbroic intrusions by previous operators. • Historical mining of some deposits Selected Intercepts for Mid
Slide 15: Multiple Targets
Multiple Targets Searching for a deposit of scale For personal use only Previous operators kept targeting the same high grade, but small anomalies in top ~200m What will we do differently? ✓ Target broader intrusive complex that could host substantial massive and semi-massive sulphide accumulations
Slide 16: Consistent News-flow
Consistent News-flow Funded program will deliver value catalysts through 2024 For personal use only Q4 2023 Q1 2024 Q2 2024 Q3 2024 Horden Lake Metallurgy Horden Lake Geophysics Horden Lake Drilling Horden Lake Resource Update BAGB Geophysics BAGB Targeting Execution Analysis and Results 16
Slide 17: Why Invest in Pivotal Metals?
Why Invest in Pivotal Metals? For personal use only ✓ Exposure to key commodities essential in the transition to sustainable technologies ✓ Projects in tier 1 mining jurisdiction with tangible incentives on offer ✓ Large (28Mt @ 1.5% CuEq) defined Horden Lake copper-nickel-PGM deposit near infrastru
Slide 18: Corporate Overview
Corporate Overview Committed board, management and shareholders For personal use only Board and Management Position Name Expertise Non-Exec Chair Simon Gray Corporate and Commercial Lawyer, Corporate Governance, Capital Markets Managing Director Ivan Fairhall Mechanical Engineer, Private Equity, Min
Slide 19: Pivotal Metals Limited
For personal use only Pivotal Metals Limited ABN 49 623 130 987 Level 32, 71 Eagle Street Brisbane QLD 4000 GPO Box 2517 WA 6831 T: +61 8 9481 0389 E: info@pivotalmetals.com W: www.pivotalmetals.com 19
Slide 20: Appendix: JORC disclosure
Appendix JORC disclosure For personal use only Grade Contained Metal Category Tonnes CuEq (%) Cu (%) Ni (%) Au (g/t) Pd (g/t) CuEq (kt) Cu (kt) Ni (kt) Au (koz) Pd (koz) Indicated 15.2 1.50 0.77 0.20 0.13 0.19 228.6 117.6 30.5 59.4 91.3 Inferred 12.5 1.47 0.67 0.25 0.02 0.20 184.3 84.0 31.4 6.9 76.7
Slide 21: Appendix: Comparable supporting information
Appendix Comparable supporting information For personal use only Name (ASX ticker) Resource M&I (mt) Inferred (mt) CuEq Calc Announcement (date) SOUTHERN 149 @ 0.29% Cu, 0.12g/t Au, HEMISPHERE MINING Llahuin 20 @ 0.2% Cu, 0.19g/t Au, 0.005% Mo Cu% + Au(g/t)*0.77 + Mo%*3.91 https://announcements.asx.