Capricorn Metals Ltd · ASX:CMM
Capricorn Metals — Diggers & Dealers Mining Forum 2022
29 slides from Capricorn Metals's conference presentation, Aug 1, 2022
Slide 1: Diggers & Dealers Mining Forum
Diggers & Dealers Mining Forum August 2022 capmetals.com.au 1
Slide 2: Disclaimer & Competent Persons Statement
Disclaimer & Competent Persons Statement GENERAL FORWARD LOOKING STATEMENTS The purpose of this presentation is to provide general information about Capricorn Metals Limited (“Capricorn” or the This announcement may contain certain “forward-looking statements” and comments about future events. Forwa
Slide 3: DNA of quiet delivery & exceptional returns
DNA of quiet delivery & exceptional returns 1995‐2008 Equigold NL • Projects in WA, Queensland and Ivory Coast • 4 processing plants built and operated • Numerous open pit mines developed & operated • +1.6 Moz gold produced • Workforce approx 300 2009‐2018 Regis Resources Ltd • Projects in WA • 3 pr
Slide 4: DNA of quiet delivery & exceptional returns
DNA of quiet delivery & exceptional returns Deep & sustained value delivered. How? • Stick to what we know ‐ gold, open pit, CIL, Australia • Robust & achievable resource/reserve estimates crucial • In house development and operating where possible • Repeat designs that have worked ‐ fit for purpose
Slide 5: Karlawinda Gold Project
inda Gold Project Karlaw Port Hedland = o =| fo} < a a = fo} c) fay z z s 3 — Great Northem Highway Meekatharra Paynes Find Leonora Geraldton MT GIBSON GOLD PROJECT Kalgoorlie CAPRICORN METALS LTD
Slide 6: Karlawinda Gold Project
Karlawinda Gold Project Mine type Open pit Plant type 3 stage crushing 7.5MW ball mill CIL processing Throughput 4.0 – 5.0 Mtpa Reserve grade 0.9g/t1 Recovery 92% Strip ratio (w:o) 3.6 Mine life 10‐12 years Ore reserves 1.20Moz1 Mineral resources 2.14Moz2 Expected production 110 – 125koz pa capmetal
Slide 7: KGP – Bibra Pit
KGP – Bibra Pit capmetals.com.au 7
Slide 8: KGP – Bibra Pit
KGP – Bibra Pit capmetals.com.au 8
Slide 9: KGP – Bibra Pit
KGP – Bibra Pit capmetals.com.au 9
Slide 10: KGP – Plant
KGP – Plant capmetals.com.au 10
Slide 11: KGP – Crushed Ore & ROM
KGP – Crushed Ore & ROM capmetals.com.au 11
Slide 12: KGP – TSF
KGP – TSF capmetals.com.au 12
Slide 13: KGP – Airstrip
KGP – Airstrip capmetals.com.au 13
Slide 14: KGP – Building on an excellent first year of operations
KGP – Building on an excellent first year of operations FY22 Ore mined (‘000 BCM) 2,790 Waste mined (‘000 BCM) 8,954 Stripping ratio (w:o) 3.2 First Year in Review: Ore mined (‘000 t) 5,940 • Achieved steady state 3 months after first gold bar Ore milled (‘000 t) 4,450 • Project KPI’s achieved in fi
Slide 15: Bibra Mineral Resource and Ore Reserve growth
Bibra Mineral Resource and Ore Reserve growth Reserves 1.2 million ounces • Mine life over 10 years • Strip ratio 3.6 Resource 2.1 million ounces • Down dip extensions of Reserve • Excellent scope for mine life extension Low gold prices used • Reserve A$1,600/oz • Resource A$2,000/oz Shallow depth o
Slide 16: Resource/Reserve extension drilling
Resource/Reserve extension drilling • Increase drill density Southern Corridor & Tramore to 25 x 25m • Test for extensions to mineralisation below resource shells • Test for stacked lodes below shallow drilling south of Bibra capmetals.com.au 16
Slide 17: Unlocking the potential of a new gold camp at KGP
Unlocking the potential of a new gold camp at KGP CMM owns 2,941km2 of exploration & mining tenure at KGP (>100km E‐W) Regional geological settings prospective for gold in the Pilbara Craton Limited regional drilling ‐ 97% of drilling within 4km (50km2) of Bibra deposit Multiple regional tar
Slide 18: Mumbakine Well acquisition presents walk up drill targets
Mumbakine Well acquisition presents walk up drill targets • Acquired 361km2 EL in June 2022 • Contiguous to KGP tenure and <10km from KGP mill • Close to main site access road • Historical exploration focussed on soil anomalies at Jim’s Vein (400m strike) & Central Zone (1km strike) • Historical dri
Slide 19: Mt Gibson Gold Project
Mt Gibson Gold Project Port Hedland KARLAWINDA GOLD PROJECT Newman Camarvon Great Northem Highway Meekatharra Geraldton Paynes Find Leonora MT GIBSON GOLD PROJECT Kalgoorlie ‘on CAPRICORN —— METALS LTD —— —,
Slide 20: Mt Gibson Gold Project – a hidden gem
Mt Gibson Gold Project – a hidden gem Located in Murchison ‐ 280km northeast of Perth. Historical (1986‐99) gold production >868koz, 14 pits avg depth 60m Wombat underground mine followed high grades below pit Shut down when gold price c A$450/oz & “off the grid” for 30 years. CMM acquired
Slide 21: Project progressing rapidly
Project progressing rapidly Tenure granted Dec 21, drilling commenced Jan 22 81,000m ($10m) RC programme - resource infill and extensional (drill hole data gaps, depth and along strike). 80,000m complete by end of Jun22Q Extended by at least another 24,000m – results driven 3 RC and 1 diam
Slide 22: Drilling ticking the boxes
Drilling ticking the boxes Objectives of Drilling Validate historical database Reduce drill spacing on deeper, lower density areas of resource Push resource in to drilling gaps and beyond optimisation shells capmetals.com.au 22
Slide 23: Drilling ticking the boxes
Drilling ticking the boxes Upper, well drilled resource Deeper, less drilled resource Below resource capmetals.com.au 23
Slide 24: Significant regional targets
Significant regional targets First 3 targets for testing 1. Extensions to the Mt Gibson Mine Trend Drone magnetic geophysical survey completed Multiple high priority targets – geological & structural signatures 2.McDonalds/Highway (5km N of resources) High grade rock chips & old workings 20m
Slide 25: Mt Gibson Gold Project – value proposition
Mt Gibson Gold Project – value proposition $15bn M&A in Australian gold industry 2019‐2021 Resources >56 million ounces / Reserves >27 million ounces ~$272 per resource ounce ~$564 per reserve ounce Capricorn acquisition of Mt Gibson Acquisition price $39.6 million for 2.08 Moz resource Up
Slide 26: CMM – a compelling combination of cashflow and growth
Capricorn Metals Ltd Karlawinda Gold Project Long mine life and high margin project FY22: production 118koz @ AISC $1,112/oz FY22: $141m cashflow from operations ‐ industry leading cashflow per oz FY23G: 115 – 125 koz @ AISC $1,160 ‐ $1,260/oz Strong cash build providing balance sheet flex
Slide 27: Mineral Resources
Mineral Resources Notes: 1. Mineral Resources are calculated using a gold price of A$2000/ounce. 2. Mineral Resources are calculated using a cut‐off grade between 0.3g/t and 0.4g/t Au. 3. The above data has been rounded to the nearest 100,000 tonnes, 0.1 g/t gold grade and 1,000 ounces. Errors of su
Slide 28: Ore Reserve – Bibra Deposit
Ore Reserve – Bibra Deposit April 2020 Proved Probable Total Ore Reserve Gold Gold Gold Gold Gold Gold Tonnes Tonnes Tonnes Deposit Type Cut‐Off Grade Metal Grade Metal Grade Metal (Mt) (Mt) (Mt) (g/t) (koz) (g/t) (koz) (g/t) (koz) Bibra Open Pit 0.3 < ‐ ‐ ‐ 39.0 0.9 1,090 39.0 0.9 1,090 Southern Co
Slide 29: Capricorn Metals Ltd (ASX: CMM)
Capricorn Metals Ltd (ASX: CMM) Level 1, 28 Ord Street West Perth, WA enquiries@capmet.com.au +61 8 9212 4600 www.capmetals.com.au ABN: 84 121 700 105
Capricorn Metals — Diggers & Dealers Mining Forum 2022 on 6ix