Geopacific Resources Limited · ASX:GPR
Geopacific Resources — Corporate Update (May 2022)
23 slides from Geopacific Resources's corporate update, May 31, 2022
Slide 1: Corporate Update
¢) GEOPACIFIC RESOURCES LIMITED Corporate Update 31 May 2022
Slide 2: Corporate Update
Corporate Update Business transformation well advanced following suspension of the development of the Woodlark Gold Project. Material contractual commitments closed out. $28m of cash and no debt as at 30 April 2022, plus long lead equipment items with a materials cost of $17m1. 1.6Moz Au of Mineral
Slide 3: Business Transformation
Business Transformation Significant capital cost increase and its impact on Project funding led to Woodlark Project suspension. The Company is 1. now focussed on Mineral Resource growth and project design optimisation1. 2. Company has been restructured, with a significantly lower cost base. 3. Devel
Slide 4: Financial Update
Financial Update • Project development previously incurring ~$10m per month. Cash position of • Payments of ~$5.8m in April 2022 and likely $4.8m in May 2022 for residual Project creditors and to $28m and no debt at close-out material contractual commitments. 30 April 2022 • Outgoings associated wit
Slide 5: Mineral Resource Update
Mineral Resource Update1 No change to existing Mineral Resource and Ore Reserve estimates Mineral Resources (Fully Diluted) • Mineral Resources: 47.04Mt at 1.04g/t Au for 1.57Moz Au Category Tonnes Grade Ounces (>0.4g/t lower cut) (Mt) (g/t) (oz) • Ore Reserves: 28.9Mt at 1.12g/t Au for 1.04Moz Au M
Slide 6: Woodlark Gold Project – Platform For Development
Woodlark Gold Project – Platform For Development ~1,500 metre gravel air strip Extensive road network developed Supply wharf The Woodlark Project has seen substantial investment to date. Provides a platform for future Project implementation. 140 person camp, offices and core sheds Community relocati
Slide 7: Woodlark Resource Growth
Woodlark Resource Growth Two Phase Strategy: 1. Mineral Resource growth • Each of the identified orebodies remain open along strike, down dip and at depth. • Drilling program commenced in Q4 2021. Commenced with grade control drilling and is currently focused on identifying extensions to the existin
Slide 8: Kulumadau – Grade Control Drilling Indicates Upside
Kulumadau – Grade Control Drilling Indicates Upside • c.3,600m grade control program • 60m holes, with 10m x 5m spacing • Highlights Include: • 080KUL116, 41m at 10.4g/t Au (426 gram metres)1 • 080KUL120, 28m at 10.1g/t Au (281 gram metres)1 • 080KUL146, 58m at 4.7g/t Au (271 gram metres)2 • 080KUL1
Slide 9: Kulumadau – Potential Pit Extension
Kulumadau – Potential Pit Extension • Access to new areas has enabled drilling which has identified mineralisation adjacent to and below the current pit limits. • 23 holes drilled proximal to Kulumadau in the current campaign. • Highlights Include: • KURC21019, 12m at 1.7g/t Au from 70m1 • KURC21020
Slide 10: Busai – Potential Pit Extension
Busai – Potential Pit Extension • 48 holes adjacent to Busai drilled in current campaign.1 • Highlights include: • BSRC21140, 14m at 5.0g/t Au from 73m2 • BSRC21108, 7m at 4.6g/t Au from 41m3 • BSRC21136, 11m at 2.0g/t Au from 16m2 • BSRC21141, 8m at 2.1g/t from 19m2 • Drilling confirms mineralisati
Slide 11: Priority Mining Lease Prospects – Drilling Underway
Priority Mining Lease Prospects – Drilling Underway • New mineralised structure identified in recent drilling at Kulumadau East, located 80m to the east of the current Kulumadau pit outline1 • Further drilling planned to test continuity • Surface anomaly at Talpos under evaluation with drill results
Slide 12: Woodlark Project Re-evaluation & Optimisation
Woodlark Project Re-evaluation & Optimisation • The original Project development plan was based on Ore Reserves calculated on a gold price of A$1,650 per ounce, approximately 37% below the current gold price1. Previous drilling at Kulumadau was restricted due to the proximity of the local community.
Slide 13: 2022 Planned Work Program
2022 Planned Work Program Q2 CY22 Q3 CY22 Q4 CY22 Resource drilling − ongoing drilling campaign Resource update Q4 2022 Re-evaluation and optimisation studies − targeted completion in Q4 CY2022 Community relocation program Strategic Review − to be carried out in parallel with all other activities Co
Slide 14: Woodlark’s Regional Setting – “Pacific Ring of Fire”
Woodlark’s Regional Setting – “Pacific Ring of Fire” Strategic landholding in prolific “Pacific Ring of Fire” 597km2 tenement package extending over a large proportion of the island Exploration Lease hosts numerous untested gold and copper surface outcrops and soil anomalies Regional peers average s
Slide 15: Government & Community
Government & Community Stakeholder & Permitting Update Key Community Initiatives • All exploration and mining licences • The community relocation program has in good standing.1 continued. • An amendment was secured to the • Positive community response to the Mining Lease to extend the deadline quali
Slide 16: Corporate Snapshot
Corporate Snapshot Financial Position1 Cash $28m Long lead equipment items materials cost2 $17m Debt Nil Substantial Shareholders3 DELPHI 20.0% Tembo Capital 12.2% Franklin Templeton 9.8% Spheria 7.7% Board & Management Andrew Bantock Non-Executive Chairman Colin Gilligan Non-Executive Director Ian
Slide 17: Risk Update (1 of 4)
Risk Update (1 of 4) There are a number of factors, both specific to the Company and of a general nature, which may, either individually or in combination, affect the future operation, exploration, development and financial performance and/or financial position of the Company, its prospects, and/or
Slide 18: Risk Update (2 of 4)
Risk Update (2 of 4) Financing risk If a decision to progress to develop an optimised Woodlark Gold Project is made, significant new debt and/or equity funding will be required. The Company’s ability to successfully access the equity capital markets and/or financing via credit markets, will depend o
Slide 19: Risk Update (3 of 4)
Risk Update (3 of 4) Mining and development risks Any future development and construction of the Woodlark Gold Project will be subject to typical construction risks including usual risks of delays, design and/or quality issues, pricing and cost overruns and variations, contractor performance and cla
Slide 20: Risk Update (4 of 4)
Risk Update (4 of 4) Litigation risk Although it has no material litigation on foot, the Company is exposed to the usual risks of litigation, disputes and claims, including tenure disputes, environmental claims, royalty disputes, contractual disputes, occupational health and safety claims and employ
Slide 21: Investment Highlights
Investment Highlights Advanced stage pre-development gold project with +1.6Moz Mineral Resource Potential for Mineral Resource and Project growth Permits in place with all exploration and mining licences in good standing1 Supportive PNG Government and local stakeholders $28m of cash and no debt as a
Slide 22: Disclaimer and Competent Persons Statement
Disclaimer and Competent Persons Statement This presentation is for information purposes only. This presentation does not constitute financial product advice Forward Looking Statements: All statements other than statements of historical fact included in this and has been prepared without taking into
Slide 23: Contact
Contact Tim Richards CEO info@geopacific.com.au This presentation has been approved for release by the Board of Geopacific Resources Limited