Theta Gold Mines Ltd. · ASX:TGM
Theta Gold Mines — Cape Town Mining Indaba 2022
37 slides from Theta Gold Mines's conference presentation, May 10, 2022
Slide 1: High Growth, Low-Cost Gold Developer
For personal use only HIGH GROWTH, LOW-COST GOLD DEVELOPER 6.1MOZ GOLD RESOURCE & GROWING DFS NEAR COMPLETION CEO PRESENTATION - CAPE TOWN MINING INDABA – MAY 2022
Slide 2: Disclaimer
For personal use only DISCLAIMER FORWARD LOOKING AND CAUTIONARY STATEMENTS DISCLAIMER AND COMPETENT PERSONS STATEMENT This presentation may refer to the intention of Theta Gold Mines regarding estimates or future events which could DISCLAIMER be considered forward looking statements. Forward looking
Slide 3: Overview: Corporate
For personal use only OVERVIEW CORPORATE 3
Slide 4: Theta Gold Highlights
THETA GOLD HIGHLIGHTS Ø 6.1Moz gold resource @4.17g/t and growing For personal use only Ø Geological models show gold mineralization fluids have been derived from the Bushfeld complex, the richest metallogenic province on earth Ø Current DFS will deliver a bigger production profile with Low capital
Slide 5: About Theta Gold
About Theta Gold Theta Gold Mines Limited controls and dominates the For personal use only Eastern Transvaal Gold Fields, where South Africa’s gold mining industry began almost 130 years ago. And we’re bringing this large forgotten historical shallow goldfield back to life. The Transvaal Gold System
Slide 6: Compelling Investment Rationale
COMPELLING INVESTMENT RATIONALE INVESTMENT CASE For personal use only SIZE INVESTOR POTENTIAL GROWTH LOW-COST EXPERIENCED FLEXIBILITY POSITIVE VALUE PRODUCER TEAM SOCIO-ECONOMIC IMPACT +6.1Moz of Gold Undervalued Low-cost expansion +160koz pa (within Production costs Resource Multiple entry points 1
Slide 7: Team of Experts
TEAM OF EXPERTS BILL GUY MITFORD MUNDELL JACQUES DU TRIOU For personal use only CHAIRMAN CEO COO Former CEO of Namakwa Over 16 years at Harmony Gold. Ex-Jupiter Mines Ltd (ASX: JMS) Led the Doornkop South Reef Chief Exploration Manager. (Jupiter Diamonds, commissioned and expanded profitable product
Slide 8: ASX Listing
ASX LISTING For personal use only Ordinary Shares ASX: TGM 550m Unlisted options and management performance 41.97m rights Market Capitalisation (undiluted) ~A$72M (~US$52M) 61% Top 10 shareholding 8% Directors & Management 8
Slide 9: Project Overview
For personal use only PROJECT OVERVIEW 9
Slide 10: South Africa's Golden Triangle
SOUTH AFRICA’S “GOLDEN TRIANGLE” THETA GOLD – 6.1MOZ DEVELOPER – TO PRODUCE >160KOZ/A For personal use only SA host the 3rd largest gold reserves in the world (~6,000T Au) 10
Slide 11: UG Mines Targeted First Out of Potential >40
For personal use only 6 UG MINES TARGETED FIRST OUT OF POTENTIAL >40 5 solid growth potential 2 3 Modern mining and treatment Develop multiple mines, methodologies enable 1 reaching >160koz/a within low-cost operations (AISC five years, from the resource US$900/oz) and reserve base of +6Moz expansio
Slide 12: Strategy to Build Up to >160,000oz/a Au Production Profile
STRATEGY TO BUILD UP TO >160,000OZ/A AU PRODUCTION PROFILE WITHIN 5 YEARS (ONLY 6 OF >40 PRE-DEVELOPED MINES) For personal use only PHASE 1 PHASE 2 PHASE 3 COMMISSION COMMISSION COMMISSION Current 5 Year DFS Stage TBA (PFS was ~60koz/a) ramp up >160koz/a targeted • 4 mining production units • Expand
Slide 13: Financial Projections (PFS 2021)
For personal use only FINANCIAL PROJECTIONS(PFS 2021) 13
Slide 14: TGME Underground Initial Pre-Feasibility Study 2021
TGME UNDERGROUND INITIAL PRE-FEASIBILITY STUDY 2021 FIRST 16 % OF UNDERGROUND MINERAL For personal use only RESOURCE Pay-back period from Pay-back period from start of mining 22 first gold 13 months months By third year of production, 419 Koz delivered to almost 70 koz / year plant over Life of Mine
Slide 15: Low-Cost Sustainable Gold Producer with High Margins
LOW-COST SUSTAINABLE GOLD PRODUCER WITH HIGH MARGINS COST DRIVERS For personal use only PHASE 1 UG $2,000 Upside gold MARGIN $1,750 Price potential Near surface Pre-developed, Modern mining gold reefs multiple entry methods – safe, $1,500 points (flexibility) productive GOLD PRICE (US$) $1,250 >50%
Slide 16: Low-Cost Sustainable Gold Producer with High Margins
LOW-COST SUSTAINABLE GOLD PRODUCER WITH HIGH MARGINS For personal use only $900 FORECAST TO BE LOWEST COST PRODUCER IN SOUTH AFRICA AND LOWEST COST QUARTILE AUSTRALIAN PRODUCER 16
Slide 17: Production Units
PRODUCTION UNITS DEVELOPMENT DRILL RIG DEFINED ONE PRODUCTION UNIT: SEVEN PRODUCTION UNITS: For personal use only PRODUCE 15-20 KT/M (20-30KOZ/A) PRODUCE 100-140 KT/M (UPGRADED TO FEED 80KT/M TO MILL) (>160KOZ/A) MINING FLEET • 2 Dev Drill Rig ($1.6m) HUMAN RESOURCES • 2 Stoping LH Drill Rig ($3m) •
Slide 18: UG PFS Financial Results (New Expanded DFS Out in June 2022)
PHASE 1 UG PFS FINANCIAL RESULTS (NEW EXPANDED DFS OUT IN JUNE 2022) • YEAR 7-8 CAPACITY NOT UTILIZED (EXCLUSION OF INFERRED RESOURCES) • WITH THE PLANT CAPACITY FULLY UTILIZED AISC CAN BE MAINTAINED AT US$800/OZ For personal use only UG Operations Unit Forecast 1,500 1,600 1,700 1,800 2,000 NPV @ 5
Slide 19: Other Highlights
For personal use only OTHER HIGHLIGHTS 19
Slide 20: Environmental, Social & Governance (ESG)
ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) ESG IS INTEGRAL TO THE DEVELOPMENT STRATEGY AND IS For personal use only BASED ON: • Holistic risk management • Conservation of biodiversity • Zero harm approach to health and safety • Responsible production practices • Environmental stewardship • Positive im
Slide 21: Environmental Approvals
ENVIRONMENTAL, SCOPING REPORT SUBMITTED， ENVIRONMENTAL APPROVALS COMMUNITY SUPPORTS CONTINUES PROGRESS (MR83) Task Duration Status For personal use only Submit application for EA Q3 2021 ü Submit draft scoping report Q1 2022 ü Specialists EIA Studies Completed Q1 2022 ü DMRE acceptance of final Scop
Slide 22: Progress Towards Production
PROGRESS TOWARDS PRODUCTION ACTIVITIES For personal use only • High grade Rietfontein Mine PFS completed and added as fourth mine into DFS. • Further metallurgical test work on Sulphide ore from Frankfort Mine and free milling ore from Beta, CDM and Rietfontein mines. FUNDING • All inputs to DFS fin
Slide 23: Closing Remarks
CLOSING REMARKS Ø High growth investment opportunity For personal use only Ø 6.1Moz gold resource @4.17g/t with multiple short term resource expansion opportunities from existing pre-developed mines Ø A solid initial production profile of over 60koz/a, then building to 160koz/a within five years Ø L
Slide 24: Question Time
For personal use only QUESTION TIME WWW.THETAGOLDMINES.COM BILL GUY MITFORD MUNDELL CHAIRMAN CEO Email: billg@thetagoldmines.com Email: mitfordm@tgme.co.za TICKER: TGM (TRADE IN AU$) TICKER: TGMGF (TRADE IN US$) 24
Slide 25: Appendices
For personal use only APPENDICES 25
Slide 26: Combined Mineral Resource Statement (~6.1Moz)
COMBINED MINERAL RESOURCE STATEMENT - (~6.1MOZ) Combined Mineral Resource For personal use only Resource Classification Type of Operation Tonnage Gold Grade Gold Content Mt g/t Kg koz Underground 0.091 5.37 489 15.7 Measured Open pit Tailings Total Measured 0.091 5.37 489 15.7 Underground 4.774 6.21
Slide 27: Mineral Resource Statement - Underground (~4.5Moz)
MINERAL RESOURCE STATEMENT - UNDERGROUND (~4.5MOZ) Mineral Resource Reef Grade Stope Grade Reef Width Stope width Content Reef Tonnes Stope Tonnes Au Content Mine Reef For personal use only Classification g/t g/t cm cm cm.g/t Mt Mt kg koz Measured Frankfort Bevetts 7.13 5.37 73 103 520 0.069 0.091 4
Slide 28: Mineral Resource Statement - Open Pit (~1.4Moz)
MINERAL RESOURCE STATEMENT – OPEN PIT (~1.4MOZ) Reef Grade Reef Width Content Reef Tonnes Au Content Mineral Resource Classification Open Pit Mine Reef For personal use only g/t cm cm.g/t Mt kg koz Hermansburg Eluvial 1.79 0 0 0.505 905 29.1 DG1 Eluvial 2.24 0 0 0.640 1 432 46.0 DG2 Eluvial 0.66 0 0
Slide 29: Ore Reserve Statement
ORE RESERVE STATEMENT Grade Tonnes Au Content For personal use only Ore Reserve Classification Operation g/t kt kg koz Proved 4,24 60 254 8,16 Frankfort Total Proved 4,24 60 254 8,16 Beta 6,51 1 662 10 822 347,94 Frankfort 4,11 259 1 063 34,16 Probable CDM 2,31 385 889 28,58 Theta Project (MR 83) 2,
Slide 30: A Century of Historical Data
For personal use only A CENTURY OF HISTORICAL DATA 30 30
Slide 31: Multiple Access Points into Pre-Developed Mines
For personal use only MULTIPLE ACCESS POINTS INTO PRE- DEVELOPED MINES (DESIRE MINE ACCESS) 31 31 31
Slide 32: Excellent Ground Conditions
For personal use only EXCELLENT GROUND CONDITIONS (FROM NEAR A CENTURY AGO) 32 32
Slide 33: "Old Gold" Mining Opportunities
For personal use only “OLD GOLD” MINING OPORTUNITIES (PACKED NEATLY NEAR A CENTURY AGO) 33 33
Slide 34: Frankfort Mine Preparing for Trial Mining (Nov 2021)
For personal use only FRANKFORT MINE PREPARING FOR TRIAL MINING (NOV 2021) 34 34
Slide 35: Example of Flat Reef System (Frankfort Mine)
For personal use only EXAMPLE OF FLAT REEF SYSTEM (FRANKFORT MINE) 35 35
Slide 36: Long Hole Stoping Trial Mining at Frankfort Mine
For personal use only LONG HOLE STOPING TRIAL MINING AT FRANKFORT MINE 36 36
Slide 37: Old Plant Demolished Ready for New Plant Build (April 2022)
For personal use only OLD PLANT DEMOLISHED READY FOR NEW PLANT BUILD (APRIL 2022) 37 37