Slide 1: West Africa's Next Tier-1 Gold Mine
For personal use only West Africa’s Next Precious Metals Summit Tier-1 Gold Mine September 2024 ASX:PDI Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 1
Slide 2: Forward looking statements, disclaimer and compliance
Forward looking statements, disclaimer and compliance Forward Looking Statements and Important Notice This report contains forecasts, projections and forward-looking information. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions
Slide 3: Company Highlights
Company Highlights Rapidly advancing the Bankan Gold Project in Guinea, West Africa’s next tier 1 gold mine 5.38Moz Mineral Resource, including 3.05Moz Ore Reserve(1) For personal use only Leading African gold development asset. PFS outlined 269Kozpa average production over 12-year mine life(2) High
Slide 4: Corporate Overview
Corporate Overview Major Shareholders(1) Capitalisation(2) Ordinary Shares Outstanding 2,351m (19.9%) Unlisted Options 131m Fully-Diluted Shares Outstanding 2,482m (14.3%) For personal use only Closing Price (6-Sep-24) A$0.24 Undiluted Market Capitalisation A$564m | US$378m (6.5%) Cash (30-Jun-24) A
Slide 5: Guinea: West Africa's Next Major Gold Region
Gold Iron Ore Bauxite Graphite Guinea: West Africa’s Next Major Gold Region Attracting major global investments to an established and growing mining industry Lefa Siguiri (Production) (Production) o Stable and mature mining jurisdiction Sangaredi Bankan (PFS) 207Kozpa Au 221Kozpa Au • Uninterrupted
Slide 6: Bankan Gold Project PFS Highlights
For personal use only Largest current Bankan Gold Project PFS Highlights African gold development project Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 6
Slide 7: Bankan PFS Highlights
Bankan PFS Highlights(1) Large-scale open pit and underground gold project with robust economics, and potential for further upside For personal use only EXCEPTIONAL LARGE HIGH-GRADE LOW CAPITAL LOW COST & ROBUST POST-TAX PRODUCTION PROFILE MINERAL RESOURCE INTENSITY HIGH MARGIN NPV AND IRR 269Kozpa
Slide 8: Resource Base Benchmarking
Resource Base Benchmarking Bankan ranks as a top-tier gold asset globally, and one of the best gold development projects in Africa, from a grade and resource perspective Select Global Top-tier Gold Mines & Projects – Mineral Resource (Moz Au) & Gold Grade (g/t Au) 6 Top-tier African Producing High g
Slide 9: Production and Capex Benchmarking
Production and Capex Benchmarking Bankan has the highest annual production and lowest capital intensity of advanced African gold development projects(1) Production (Kozpa Au)(2) 269 234 223 220 Median: 186Koz Au 203 199 For personal use only 173 167 162 162 150 90 Doropo Kalana Bankan (DFS) Kurmuk K
Slide 10: Bankan 3.05Moz Maiden Ore Reserve & Mining Inventory
Bankan 3.05Moz Maiden Ore Reserve & Mining Inventory Overall conversion of ~74% of the Indicated Mineral Resource into Probable Ore Reserve o Maiden Probable Ore Reserve estimate of 57.7Mt @ 1.64g/t for 3.05Moz(1) NEB Deposit of contained gold across the NEB open pit, NEB underground(2) and BC open
Slide 11: Key Optimisations & Further Works
Key Optimisations & Further Works RESOURCE NEAR-RESOURCE POWER COST GEOTECHNICAL MINING COST OPTIMISATIONS 1 EXPLORATION 2 OPTIMISATIONS 3 OPTIMISATIONS 4 OPTIMISATIONS 5 The currently under Inferred resources at NEB, construction Linsan- Conservative assumptions Streamlining of existing Significant
Slide 12: Current Bankan Project Activities
For personal use only Fast-tracking Current Bankan Project Activities development of West Africa’s next tier-1 gold mine Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 12
Slide 13: Current Activities
Current Activities Strong progress being made with permitting, drilling & exploration and early DFS workstreams ESIA submitted to the Ministry for BC and Gbengbeden resource the Environment and Sustainable conversion programs completed Development (“MEDD”) in June 2024 For personal use only Resource
Slide 14: Environmental & Social Highlights
Environmental & Social Highlights Committed to the sustainable and responsible development of the Bankan Gold Project ESIA & Permitting Community Initiatives o Comprehensive ESIA completed following >2 years of baseline work; o Bankan Primary School canteen project is providing breakfast and lunch i
Slide 15: 2H 2024 Drilling Programs
2H 2024 Drilling Programs Extensive drilling programs are aiming to enhance DFS and make additional discoveries For personal use only Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 15
Slide 16: BC Infill Drilling Results
BC Infill Drilling Results Positive results below the PFS pit confirm potential to upgrade Inferred Mineral Resources to the Indicated category For personal use only Predictive Discovery | West Africa’s Next Tier-1 Gold Mine Note: Refer to ASX releases dated 27-Jun-24, 16-Jul-24 and 12-Aug-24. www.p
Slide 17: Gbengbeden Infill Drilling Results
Gbengbeden Infill Drilling Results Positive results below the PFS pit confirm potential to upgrade Inferred Mineral Resources to the Indicated category Change all new intercepts to red, so it matches cross sections For personal use only Predictive Discovery | West Africa’s Next Tier-1 Gold Mine Note
Slide 18: Near-Resource Exploration Upside
Near-Resource Exploration Upside Potential for multiple satellite deposits within 5km of NEB o Targets defined from shallow drilling and geophysics surveys For personal use only o Aiming to deliver additional resource ounces in close proximity to both NEB and BC deposits o Positive results from mult
Slide 19: 800W Drilling Results
800W Drilling Results Confirming potential for a shallow satellite deposit, with a maiden Mineral Resource estimate targeted late 2024 For personal use only Predictive Discovery | West Africa’s Next Tier-1 Gold Mine Note: Refer to ASX releases dated 16-Jul-24, and12-Aug-24. www.predictivediscovery.c
Slide 20: Regional Upside – Argo Drilling Results
Regional Upside – Argo Drilling Results Promising results from multiple target areas D o Multiple specific target areas plus 23 line kms of anomalous auger trends to be tested o Fouwagbe and Sounsoun targets advanced to resource C definition, targeting maiden Mineral Resource by late 2024 For person
Slide 21: Indicative Activities & Timeline
Indicative Activities & Timeline Driving towards permitting on the back of PFS and ESIA completion 2024 2025 2026 2027 2028 Activity H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 PFS Exploitation Permit DFS For personal use only Further definition & exploration drilling Mining Convention Financing FEED Detailed Eng
Slide 22: Investment Highlights
Investment Highlights Strong re-rate potential as Bankan moves through its development cycle High Quality Asset Base The next tier-1 gold mining project, ranking well on a global scale on resource size/grade, in Stable Jurisdiction annual production and capital intensity For personal use only Room f
Slide 23: Appendix
For personal use only Appendix Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 23
Slide 24: Board & Management
Board & Management Highly experienced Board and senior management team Board Simon Jackson Andrew Pardey Sandra Bates Alberto Lavandeira Steven Michael Non-Executive Chair Managing Director Executive Director – Legal & ESG Non-Executive Director Non-Executive Director • 25 years’ experience in the m
Slide 25: NEB Deposit Overview
NEB Deposit Overview Large-scale orebody with excellent consistency Mining Method Classification Cut-off (g/t Au) Tonnes (Mt) Grade (g/t Au) Contained (Koz Au) Open Pit Probable 0.5 46.2 1.41 2,101 o Large open pit resource (3.99Moz @ 1.53g/t) and high-grade Underground Probable 1.7 7.1 3.24 739 und
Slide 26: BC Deposit Overview
BC Deposit Overview 487Koz only 3km west of NEB Mining Method Classification Cut-off (g/t Au) Tonnes (Mt) Grade (g/t Au) Contained (Koz Au) Open Pit Probable 0.4 4.3 1.48 207 Total BC Ore Reserves 4.3 1.48 207 o Open pit resource of 487Koz @ 1.24g/t within an orogenic Open Pit Indicated 0.4 5.3 1.42
Slide 27: Bankan Mineral Reserves & Resources Overview
Bankan Mineral Reserves & Resources Overview JORC Ore Reserve JORC Mineral Resource Cut-off Tonnes Grade Contained Cut-off Tonnes Grade Contained Deposit Mining Method Classification Deposit Classification For personal use only (g/t Au) (Mt) (g/t Au) (Koz Au) (g/t Au) (Mt) (g/t Au) (Koz Au) Indicate
Slide 28: Processing Overview
Processing Overview Simple processing to achieve high recoveries Bankan Processing Flow Sheet o Gold mineralisation confirmed as free-milling with high gold recoveries and amenable to simple, conventional CIL processing For personal use only o Como Engineers has designed a conventional gold processi
Slide 29: Environmental & Permitting
Environmental & Permitting Committed to extensive stakeholder engagement and environmental preservation Permitting Considerations o NEB and BC deposits located in the Peripheral Zone of the Upper Niger For personal use only National Park o Core Conservation Area is the focus of the conservation effo
Slide 30: PFS Production and Financial Metrics
PFS Production and Financial Metrics US$1,800/oz Au US$2,300/oz Au Ore Reserve Ore Reserve Units Extension Case Extension Case Case Case Leading low-cost gold project in Africa, with modest Mine Life years 12 11 12 11 initial capital complementing +250Kozpa Au production Ore Mined Mt 62 58 62 58 For
Slide 31: Ore Mining Overview
Ore Mining Overview Multiple ore sources provide opportunities to optimise the mine plan and further de-risk operations Extension Case Ore Mined (Mt) and Mining Grade (g/t Au) Underground Bankan Creek (BC) NEB Pushback #1 NEB Pushback #2 Gbengbeden Grade Mined 9.4 62Mt 7.7 3.9 For personal use only
Slide 32: Gold Production Overview
Gold Production Overview Average LOM gold production of +250Koz over a +10 year mine life Extension Case 3.2Moz Production (Koz Au) and AISC (US$/oz) Cumulative Production OP Production UG Production AISC 462 296Koz 405 $1,714 For personal use only 293 362 129 $1,547 First 7 Years Avg. 267 $1,337 $1
Slide 33: Opex & Capex Breakdown
Opex & Capex Breakdown Low upfront capital expenditure and attractive cost profile PFS Operating Cost Breakdown PFS Capital Cost Breakdown (Inc. Contingency) Area Extension Case Ore Reserve Case Area Units Extension Case Ore Reserve Case LOM Cost (US$m) Unit Cost (US$/oz) LOM Cost (US$m) Unit Cost (
Slide 34: NEB Underground Resource Optimisations
1 NEB Underground Resource Optimisations Upside to PFS mineable inventory at NEB through upgrading and extending underground Inferred Resources PFS EXTENSION CASE UNDERGROUND MINING INVENTORY UPSIDE POTENTIAL For personal use only Underground material in Extension Case is limited by open pit LOM (to
Slide 35: BC & Gbengbeden Open Pit Resource Optimisations
1 BC & Gbengbeden Open Pit Resource Optimisations Upside to PFS mineable inventory at BC and Gbengbeden through upgrading Inferred Resources below pit designs BLOCK MODELS OPEN PIT MINING INVENTORY UPSIDE POTENTIAL PFS Mineable Inventory (Koz) Further resource conversion upside via additional drilli
Slide 36: Near-resource Exploration
2 Near-resource Exploration Potential for multiple satellite deposits within 5km of NEB o Targets defined from shallow drilling and geophysics surveys For personal use only o Aiming to deliver additional resource ounces in close proximity to both NEB and BC deposits o Positive results from multiple
Slide 37: Power Cost Optimisations
3 Power Cost Optimisations Current development of Guinea’s power infrastructure has the potential to greatly reduce processing costs Guinea Grid Power Potential & Cost Optimisation Upside 225KV Powerline Installation to Unlock Grid Power(2,3) • Major power production and distribution projects have m
Slide 38: Geotechnical Optimisations
4 Geotechnical Optimisations Conservative assumptions underpinning existing design parameters of Bankan o PDI considers current geotechnical NEB Design Sectors Indicative Slope Configurations Design Sector 1 parameters to be conservative o Further geotechnical drilling required on periphery of the p
Slide 39: Mining Optimisations
5 Mining Optimisations Streamlining of existing pit staging, haulage profiles and mine development strategy Bankan Mining Optimisations NEB Pit Design and Stages Open Pit Mining Optimisations o Review and optimise pit staging (including potential for small NEB starter pit) For personal use only o Re
Slide 40: Sources for Resource Base Benchmarking
Sources for Resource Base Benchmarking Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) Resource A
Slide 41: Sources for Resource Base Benchmarking (cont'd)
Sources for Resource Base Benchmarking (cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 42: Sources for Resource Base Benchmarking (cont'd)
Sources for Resource Base Benchmarking (cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 43: Sources for Resource Base Benchmarking (cont'd)
Sources for Resource Base Benchmarking (cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 44: Sources for Resource Base Benchmarking (cont'd)
Sources for Resource Base Benchmarking (cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 45: Sources for Resource Base Benchmarking (cont'd)
Sources for Resource Base Benchmarking (cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 46: Sources for Production and Capex Benchmarking
Sources for Production and Capex Benchmarking Asset Owner Asset Stage Production (Koz) Initial Capex (US$m) Source https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4g65yhP Nyanzaga Perseus DFS 234 $474 0v%2Fhr7bFiGug%3D https://www.montagegoldcorp.com/_resources/presentations
Slide 47: Material ASX releases
Material ASX releases NEB AND BC AREA DRILLING PROGRAMS CONTINUE TO DELIVER, 8/08/2024 41.5M @ 5.2G/T AU INTERSECTED AT NE BANKAN, 27/04/2022 BANKAN GOLD PROJECT DRILLING ACCELERATED, 22/01/2021 STRONG DRILLING RESULTS AND PERMITTING UPDATE, 17/07/2024 MULTI-DEPOSIT POTENTIAL GROWS WITH STRONG RESUL
Slide 48: For further information contact
For personal use only For further information contact BRAD MILNE Corporate Development Manager E: brad.milne@predictivediscovery.com BOBBY MORSE / GEORGE POPE Buchanan E: predictive@buchanan.uk.com T: +44 (0)20 7466 5000 ASX : PDI | www.predictivediscovery.com Predictive Discovery | West Africa’s Ne