Saturn Metals Ltd. · ASX:STN
Saturn Metals — Investor Presentation (June 2024)
22 slides from Saturn Metals's investor presentation, June 2024
Slide 1: Apollo Hill: Heap Leach Gold
Apollo Hill: Heap Leach Gold ASX:STN Ian Bamborough www.saturnmetals.com.au Managing Director
Slide 2: Apollo Hill 'Greater' Gold Project
Apollo Hill ‘Greater’ Gold Project Overview, Location and Tenure • Central strategic position in the Belt • 60km south-east of Leonora in Western Australia in world class multi-million ounce gold province close to existing gold infrastructure • Centred around the current 1.84Moz Resource Measured, I
Slide 3: Corporate Snapshot
Corporate Snapshot Strong Register – Compelling Value Corporate Metrics & Share Structure Assets Cash as at 31 March 2024 $6M EV/Resource oz $21 1 Ordinary Shares on Issue 224M Mineral Resources – Apollo Hill Gold Deposit 1.84Moz 2 Unquoted Options & Performance Rights 18.06M Apollo Hill Project NPV
Slide 4: Apollo Hill – Resource (1.84Moz Au) June 2023
Apollo Hill – Resource (1.84Moz Au1) June 2023 Simple, Single, Big, Low Strip, Large Selective Mining Unit, Low Unit Cost, Open Pit Shell 6772000N 372000E Apollo Hill May 2022 6774000N Mineral Resource 1,469,000oz (76Mt @ 0.60g/t Au at 0.23g/t Au cut-off) 3D Oblique view Looking North-West May 2022
Slide 5: Apollo Hill 2023 Mineral Resource & PEA Whittle Shell
Apollo Hill 2023 Mineral Resource & PEA Whittle Shell Scalability SW NE Only 1.5:1 strip ratio LOM, more 0.35km ounces in shell TOPO BOCO Initial strip ratio over the first two TOFR years is 1.2:1 Thick ore zones +100m Bulk tonnage Bigger selective mining units, Drill Holes economies of sc
Slide 6: Simple Metallurgy – Apollo's Biggest Cost Differentiator
Simple Metallurgy – Apollo’s Biggest Cost Differentiator Excellent Gold Extraction Characteristics for Easily Recoverable Gold HEAP LEACHINGA Gold Grains Efficient and Excellent Low-Cost Recovery Route +78% gold recovery in columns at completion at 8mm Crush (PEA Plant Design) Data collected +88
Slide 7: Leach Kinetics and Recovery Performance
Leach Kinetics and Recovery Performance Strong and Timely Curves with a Predictable Finish for Efficient Management of Heap LeachingA A Refer Slide 20 ASX:STN | www.saturnmetals.com.au 7
Slide 8: Preliminary Economic Assessment
Preliminary Economic Assessment Production Target – 1.63Moz Initially targeting 10Mtpa for 10 years from current Resource2 • Life of mine production totals 93.9 Mt at 0.54 g/t Au for 1,636,000 oz of contained gold. Life of mine waste movement totals 140.7 Mt, equating to an average waste to ore rati
Slide 9: Preliminary Economic Assessment
Preliminary Economic Assessment Heap Leach Circuit Initially targeting processing rate of 10Mtpa for 10 years2 • Simple scheduling • Conventional process • HPGR crushing technology • Strong recovery – conservative 75% adopted in PEA with conservative 180 Day stacking schedule also adopted 2 Figure s
Slide 10: Capital Efficiency
Capital Efficiency 2.8 Year Payback Period in PEA @ A$2,665 Gold – Current Gold Price ~A$3,500 Total Pre-Production Capital Mining Offices (A$M) Solution and and Workshops Storm Water Site Infrastructure $ 42.1 Ponds Waste Dump Owner Costs $ 7.1 Processing Facilities $ 230.1 Columns and Heap Leach P
Slide 11: Preliminary Economic Assessment
Preliminary Economic Assessment C1 Cost A$1,730/oz & AISC A$1,857/oz Low Cost per tonne and Efficient Cost per ounce – Bulk Mining and Economies of Scale • Mining A$4.50/t (10m bench – large efficient SMU’s) All Chart Costs in A$ • Processing A$9.42/t Note: All values published on this slide are cur
Slide 12: Preliminary Economic Assessment
Preliminary Economic Assessment $694M Free Cash Flow and 30% IRR Photo of Norton Goldfields West Australian Binduli North 5Mtpa Heap Leach Pad – taken from a light aeroplane – Thursday 18 April 2024. Financial Highlights: • Robust financials at A$2,665/oz base case • At the recent spot gold prices (
Slide 13: Preliminary Economic Assessment
Preliminary Economic Assessment Sensitivity Analysis Gold Price Gold Price 19/03/2024 (A$ 19/03/2024 (A$ 3,306/oz) 3,306/oz) Cashflow IRR % (7%) A$ 2,665/oz A$ 2,665/oz Gold Price (+/-10%) $375.4M $1,013.0M Gold Price (+/-10%) 18% 41% $1,461.0M 55% OP Costs (+/-15%) $403.2M OP Costs (+/-15%) 19% 40%
Slide 14: Apollo Hill Staged Development Concept – Deferred Capital/Funding Early Production
Apollo Hill Staged Development Concept – Deferred Capital/Funding Early Production 1 Pilot Phase – 1-2 Mtpa Contract Crush – targeting 24koz recovered 2 ‘Roll On’ Phase – 3-5 Mtpa – Interim Capital Concept for Crushing – Pit Shell Scheduled to Step to Full Scale 3 Full Project PEA Pit – 10Mtpa2 – Cr
Slide 15: Phase 1 Bulk Sample Pits and Pilot Plant
Phase 1 Bulk Sample Pits and Pilot Plant Design Concept 1.2Mt Mined for 24koz Recovered Permit Submittal Mid 2024 3D Rendering of Saturn’s Pilot Plant Engineering Drawings ASX:STN | www.saturnmetals.com.au 15
Slide 16: Resource Extension – Apollo Hill Corridor
Resource Extension – Apollo Hill Corridor Strong Intersections Provide Expansion Opportunities on Multiple Shallow Fronts Thick, shallow, and high- grade intersections from reverse circulation drilling includeA: • 7m @ 11.18g/t Au from 172m – AHRC0813 • 12m @ 10.98g/t Au from 48m – AA090 • 27m @ 0.5
Slide 17: Resource Comparison
Resource Comparison Peer Group Round Mountain, USA Kinross Gold Corporation Apollo Hill – firmly in bulk Tujuh Bukit, IDN tonnage economic space: Merdeka Copper Gold Reserves* Apollo Hill, AUS Saturn Metals Grade Scale Marrigold, USA Moss, USA SSR Mining Bald Mountain, USA Strip Ratio Elevatio
Slide 18: Regional Potential
Regional Potential Main Gold Structure – Access Granted to Primary Targets • ~1,000km2 5km • 16 Prospects • Large continuous gold system 10km • 40% of ground untested 20km • Lake AC Planned A Refer Slide 20 **See Saturn Metals Prospectus for details on Royalty Aeromagnetic base image used. +1Moz Pro
Slide 19: Development Plan
Development Plan Timeline To Pilot Plant – Roll on Concept, and Full-Scale Production 2023 2024 2025 2026 2027 PEA Study Pilot Plant Studies Engineering & Procurement Scaled-up Pilot Testing *subject to permitting and approvals – Regulatory funding and investment decision Approvals Construction & Co
Slide 20: Disclaimer & Competent Person Statements
Disclaimer & Competent Person Statements GENERAL The Company has prepared this presentation. Whilst the information contained in this presentation has been prepared with all reasonable care from information provided by the Company and from sources, which the Company believes are reliable, no respons
Slide 21: Appendix A
Appendix A Mineral Resource – Apollo Hill Gold Deposit Measured Indicated Inferred Mineral Resource Total Lower Cut-off Oxidation state Grade Au g/t Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) Oxide 0
Slide 22: Appendix B
Appendix B Resource Comparison – Peer Group Data Mineral Resource Measured Indicated Inferred Total Source Company Desposit Stage Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces 1 Kinross Gold Corporation Bald Mountain Production 7,743,000 0.7 180,000 232,973,000 0.5