Toubani Resources Limited Registered Shs · ASX:TRE
Toubani Resources Limited Registered Shs — Investor Presentation (May 2023)
37 slides from Toubani Resources Limited Registered Shs's investor presentation, May 31, 2023
Slide 1: Developing a Gold Oxide-Dominant Project of Scale
Developing a Gold Oxide-Dominant Project of Scale Investor Presentation June 2023 | ASX: TRE 1
Slide 2: Disclaimer
Disclaimer This Presentation is for information purposes in connection with Toubani Resources Inc.’s known as “TRE” or the “Company”(s) preliminary business plan only. While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors,
Slide 3: Disclaimer – Competent Person
Disclaimer COMPETENT PERSON The information in this announcement that relates to exploration results is extracted from the Company’s ASX announcements dated 31 May 2023, 17 May 2023, 26 April 2023, 11 April 2023, 8 March 2023 (ASX Announcements) and the Company’s Prospectus dated 12 September 2022 a
Slide 4: Kobada – A Compelling Gold Development Asset
Kobada – A Compelling Gold Development Asset Multiple attributes a rarity and amplified at current valuation levels Oxide Dominant Free-Milling Relevant Scale Permitted Low AISC Underexplored TOUBANI PEERS WEST AFRICAN M&A US$3/oz US$17/oz US$55/oz (EV/Resource) (EV/Resource) (EV/Resource) 4 Note: R
Slide 5: Executing the 2023 Strategy
Executing the 2023 Strategy Providing a clear path to realise value in Kobada Defined an Oxide-Dominant Set the target of a long life, oxide-focused project, at production rates Strategy greater than 100,000ozpa and at a low AISC Bolstered Technical Team Established Toubani-led exploration and devel
Slide 6: Clearly Defined 2-Year Strategy
Clearly Defined 2-Year Strategy Leveraging significant past investment to minimise shareholder dilution ahead of FID ~A$110m in previous investment in exploration and studies means no significant resource drill-out programs required ahead of a FID 2H 2023 GOLD DEVELOPER • Update 2021 DFS • Resource
Slide 7: Experience in Funding & Developing Mines
Experience in Funding & Developing Mines Board of Directors Senior Management Phil Russo | Chief Executive Officer & Executive Director • 20 years experience in corporate, project development and capital markets • Executive roles at Barrick Gold, Dacian Gold and Perseus Mining, and US Bill Oliver |
Slide 8: Kobada Main Deposit – 3.1Moz in Mineral Resource
Kobada Main Deposit – 3.1Moz in Mineral Resource Large, shallow and well drilled open pittable Mineral Resource • Kobada Main deposit is a large, continuous 4.5km long open pit hosting global Mineral Resources of 3.1Moz • Kobada remains open along strike in both directions and at depth 4.5km • Oxide
Slide 9: Significant Intercepts Run the Entire Strike Length
Significant Intercepts Run the Entire Strike Length Foundation intercepts at Kobada reflect the forgotten value in the asset • Initial discovery drilling intersected shallow, high grade oxide mineralisation • Excellent drill results in each phase of drilling along entire strike length of Kobada Main
Slide 10: Optimising the 2021 DFS Towards >100,000ozpa
Optimising the 2021 DFS Towards >100,000ozpa Assessing the potential to increase oxide annual production rates, reduce AISC and maintain a long mine life • Current DFS life-of-mine plan contemplates 3Mtpa throughput of oxide ore feed for the first 8 years at 100,000ozpa • Followed by a combination o
Slide 11: Not All Grade is Equal – Margin Over Grade
Not All Grade is Equal – Margin Over Grade Softer ore supports lower AISC and better economic outcomes Free-dig, no drill and Increased Throughput Lower consumables Reduced power blast required availability and efficiencies of softer and reagent consumption reduced equipment ore consumption wear and
Slide 12: Real Capital & Operating Cost Efficiencies of Soft Ore
Real Capital & Operating Cost Efficiencies of Soft Ore DFS test work indicates a very low BBWi of 0.52 to 1.20 kWh/t for oxide ore Normal Gold Operation Primary Secondary Drill Blast Load & Haul SAG Mill / HPGR Ball Mill Gravity Leaching Crusher Crushing Kobada Oxide Operation Primary Secondary Dril
Slide 13: 2021 DFS Production Schedule – 1.2Moz Ore Reserve
2021 DFS Production Schedule – 1.2Moz Ore Reserve Optimisation studies to highlight oxide, scale optionality in the mine plan • 900Koz of oxides in 1.2Moz Ore Reserve • Optimise oxide ore delivery grade profile • 700Koz of oxides sit outside Ore Reserve • Review stockpile processing strategy 120,000
Slide 14: Attractive Oxide Grade Optionality Exists at Kobada
Attractive Oxide Grade Optionality Exists at Kobada Robust gold deposit at increased cut-off grades offers potential to present a stronger oxide project Cut-Off Tonnes Au g/t Ounces g/t Mt g/t Moz • Given the deep oxide profile at Kobada and its effect on the DFS economics, 0.00 180.84 0.70 4.08 a l
Slide 15: Track Record of Successful Oxide Mining in West Africa
Track Record of Successful Oxide Mining in West Africa Several mines in the region commenced with a simple, low technical risk oxide operation Toubani – Kobada – Mali Deep weathering profile offers a simple, large open pit mining operation • Softer oxide material begins from surface and extends in s
Slide 16: Extensive Historical Artisanal Activity
Extensive Historical Artisanal Activity Over 5km strike extent at Kobada Main Deposit Current exploration hotspot in southern Mali Note: February 2023 16
Slide 17: Kobada Project Should Trade Higher Along the Curve
Kobada Project Should Trade Higher Along the Curve Clearly undervalued relative to peers despite compelling strengths EV/Resource trading comparables (US$/oz) and total resource (Moz)1,2,3,4 Oxide EV/ Resource (US$/oz) Total Resource (Moz) Free-Milling 45 42 42 6.0 Permitted 40 Scale 35 5.0 EV/Resou
Slide 18: African Gold Development Peers
African Gold Development Peers Limited pipeline of single asset developers with advanced projects Kobada’s potential to achieve production rates of >100,000ozpa at a moderate initial capital cost is a distinguishing feature from peers Company Chesser Osino OreCorp Cora Montage Newcore Toubani Projec
Slide 19: West Africa an Active Region for Mine Builds and M&A
West Africa an Active Region for Mine Builds and M&A Corporate actions validate large value potential for West African gold projects Recently completed West African gold mine builds Selected West African transaction comparables since 2020 EV/ EV/ Company Project Country Date Type Target Acquirer Res
Slide 20: New Discoveries in an Established Gold District
New Discoveries in an Established Gold District Walk-up targets successfully extended near-surface oxide mineralisation • Kobada is a large gold system in a prolific gold district with numerous near-surface targets • Over 153,000m of drilling focused primarily on the Kobada Main shear deposit • 2023
Slide 21: Target – Kobada West
Target 5 – Kobada West Previously untested target unlocks newly identified structure <1km from pit • First ever drill holes at Kobada West delineated continuous, near surface oxide gold mineralisation with consistent grades and thicknesses section-to-section Kobada North • Kobada West is interpreted
Slide 22: Target – Kobada North 1 & 2
Target 3 & 4 – Kobada North 1 & 2 Untested section of mineralized structure • Kobada North 1 and 2 targets lie directly on the Kobada Shear and cover 2.3km of strike north from the Kobada Main deposit • Limited drill testing at Kobada North 1 • No previous drill testing at Kobada North 2 Kobada Nort
Slide 23: Target – Gosso
Target 1 – Gosso Underexplored and highly prospective • Parallel shear to Kobada Shear Zone with many similar characteristics • First drilled with RC in 2011, but no follow up until 2020; Intersections included: • 36m at 1.64 g/t from 72m (KBRC11_140) • 3.1m at 4.25 g/t from 34.6m (G20_PH3A_20) • 3m
Slide 24: Target – Kobada East
Target 2 – Kobada East Significant auger anomaly now confirmed by maiden RC drilling • Kobada East discovery made in 2022 by auger sampling has been confirmed by maiden RC drilling program • Drilling has identified shallow, oxide mineralisation below the auger anomaly over a strike length of 400 met
Slide 25: Kobada a Central Part of a Much Larger System
Kobada a Central Part of a Much Larger System Current exploration hotspot in southern Mali • Kobada project overlies significant regional scale structures at the eastern margin of the Siguiri Basin • These gold-bearing structures parallel those bounding the Yanfolila Belt, which is present in the ea
Slide 26: Mature, Long Established Mining Industry in Mali
Mature, Long Established Mining Industry in Mali Numerous operating mines and capital reinvestments underway • Stable and mining friendly jurisdiction with transparent system of mineral and surface title • Political / social support of mining and stated ambitions to develop resources • Competitive i
Slide 27: Sustainable Development and Engagement
Sustainable Development and Engagement A strong social license to operate with a fully permitted project Health & Safety • We aim to operate a safe and healthy workplace that is injury free and Below: Drainage channel enhances the well-being of employees construction around main village • The Compan
Slide 28: Toubani’s Value Proposition
Toubani’s Value Proposition Experienced team in place to deliver a compelling gold development project Significant Valuation Re-Rate US$3/oz Toubani EV/Resource Discover Optimise Develop multiple today • New oxide discoveries • Demonstrate potential project • Simple, low technical risk and US$17/oz
Slide 29: Additional Information
ASX: TRE Additional Information 29
Slide 30: Corporate Overview
Corporate Overview Capital Structure Shareholder Structure Basic Shares Fully Share Price Institutional Management Outstanding Diluted As of 31 May 2023 Investors & Directors 102.2M 119.2M A$0.16 27.8% 6.7% Market Significant Cash Options & Warrants Capitalisation As of 31 March 2023 Strike Price: A
Slide 31: Kobada Project – Mineral Resource Estimate 2021
Kobada Project Mineral Resource Estimate 2021 Tonnes Au Au Mineral Resource Classification Mt g/t Koz Measured 21.40 0.83 572 Indicated 40.15 0.88 1,139 Measured and Indicated Total 61.54 0.86 1,711 Inferred Total 42.03 1.06 1,433 Notes: 1. A Mineral Resource cut-off grade of 0.35 g/t Au was applied
Slide 32: Kobada Project – Ore Reserve Estimate 2021
Kobada Project Ore Reserve Estimate 2021 Category Material Ore (kt) Grade (g/t) In Situ Ounces (Koz) Laterite 336 0.77 8.4 Saprolite 12,279 0.84 326.9 Proven Transition 1,777 0.83 46.8 Fresh 5,870 0.74 139.6 Subtotal 20,263 0.81 521.7 Laterite 1,296 0.88 36.7 Saprolite 16,123 0.91 468.2 Probable Tra
Slide 33: 2021 DFS – Low Technical Risk Base Case
2021 DFS – Low Technical Risk Base Case Permitted project to process an initial oxide ore phase with hard rock processing in later years Low technical risk, long-life open pit project DFS Particulars • Proven & Probable Ore Reserves of 1.2Moz LOM Tonnage Processed (kt) 45,028 • Oxide only production
Slide 34: Kobada Main Deposit
Kobada Main Deposit Mineralisation defined over strike length of 5.0km D E • Long section showing drilling, depth of oxidation, >0.3 g/t and >1.0 g/t grade shells • Mineral Resources (>0.3 g/t) defined over 5.0km of strike with close spaced drilling in oxide blanket • Free dig, soft oxide ore able t
Slide 35: Kobada Main Deposit
Kobada Main Deposit Mineralisation defined over 250m down dip • Mineralisation defined to 250m below surface and remains open at depth • Broad, continuous mineralisation >0.3 g/t well defined by drilling • Continuity of >1.0 g/t mineralisation also apparent, potential to delineate further with targe
Slide 36: Reference Data
Reference Data Company Item Document NI 43-101 Technical Report Published 30 June 2022 (Effective 31 March 2022) - Technical Report on the Roscan Resource Kandiole Project, Mali Predictive Resource ASX Announcement 6 February 2023 - 50% of NEB'S 3.5Moz Open Pit Resource Upgraded to Indicated NI 43-1
Slide 37: Contact
Contact Phil Russo Chief Executive Officer phil.russo@toubaniresources.com Jane Morgan Investor & Media Relations jm@janemorganmanagement.com.au ASX:TRE 37
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