Meeka Metals Limited · ASX:MEK
Meeka Metals — Merger or Acquisition (February 2021)
23 slides from Meeka Metals's merger presentation, Feb 8, 2021
Slide 1: Andy Well & Gnaweeda Gold Projects
ASX:LCD ANDY WELL & GNAWEEDA GOLD PROJECTS Acquisition Presentation February 2021
Slide 2: Important Information
IMPORTANT INFORMATION Disclaimer This information contained in this presentation is issued by Latitude Consolidated Limited (“Latitude” or “the Company”). The information contained herein is confidential and proprietary to the Company and is provided to recipients on the terms and conditions set out
Slide 3: Latitude Secures Two World Class Gold Projects
LATITUDE SECURES TWO WORLD CLASS GOLD PROJECTS 10,000m exploration drilling program planned to commence immediately SIGNIFICANT LAND HOLDING IN WORLD CLASS MURCHISON GOLD FIELD 1 46sqkm of granted Mining Leases and 297sqkm of Exploration Licenses covering the northern extent of the Mount Magnet Shea
Slide 4: Corporate Summary
CORPORATE SUMMARY ASX:LCD Pro Forma Capital Structure on Completion of Andy Well Acquisition Board & Management1 Share Price (5 February 2021) A$/share 0.033 Timothy Moore Non-Executive Chairman Shares on Issue m 779.6 Morgan Barron Non-Executive Director Option on Issue m 43.3 Roger Steinepreis Non
Slide 5: ASX Gold Peer Valuations
ASX GOLD PEER VALUATIONS1 Enterprise value per total Mineral Resource2 ounce $350 $316 With an undemanding EV/oz of ~$30 and significant 776,000oz Resource base LCD is primed for re-rating $300 $261 $250 EV / Mineral Resource Ounce $200 $172 $153 $150 $101 $100 $95 $100 $74 $72 $54 $51 $51 $49 $50 $
Slide 6: Andy Well Snapshot
ANDY WELL Snapshot 45km north east of Meekatharra (regional service centre) LOCATION 60km north of the 1.6Mtpa Bluebird mill owned by Westgold Resources 1.8 million tonnes @ 8.6g/t for 505,000 ounces RESOURCE 74% of ounces are in higher confidence Measured and Indicated classification Limi
Slide 7: History of the Andy Well Gold Mine
HISTORY OF THE ANDY WELL GOLD MINE Periods of focussed exploration have historically lead to discovery $3,000/oz > Wilber Mineral Resource announced > Judy Sth Discovery > Suzie Discovery > Judy Nth Discovery $2,500 > Wilber lode first intersected with drilling > Mining > Mining Starts stopped $2,00
Slide 8: Suzie North
SUZIE NORTH Advanced exploration at Andy Well Historical Interpretation 2021 Interpretation > Suzie North intercept is located 130m below surface > Identified in flat stratigraphic diamond drill hole (WBUG0124) drilled from the underground workings by Doray in 2013 > Intercept angle between drill ho
Slide 9: Highway Lode
HIGHWAY LODE Advanced exploration at Andy Well > Identified in RAB and limited RC drilling in the mid 1990’s > Intercepted in RC pre-collars drilled for diamond holes targeting the Wilber lode during resource development drilling in 2011 > Latitude intends to test for depth extensions during the 202
Slide 10: Eastern Link & Margaret Lodes
EASTERN LINK & MARGARET LODES Advanced exploration at Andy Well > Margaret lode > Interpreted as a splay structure to the existing Suzie Mineral Resource with similar width and grade observed in the limited number of intercepts completed to date > Margaret intercepts are observed at the end of drill
Slide 11: Kirsty Lode
KIRSTY LODE Advanced exploration at Andy Well > Two parallel lodes identified in flat stratigraphic diamond drill hole (WBUG0124) drilled from the underground workings by Doray in 2013 > Same style of mineralisation to that observed in existing Mineral Resources at Andy Well (Wilber/Judy/Suzie) > RC
Slide 12: Wendy
WENDY Advanced exploration at Andy Well > Broad zone of mineralisation within the north-south trending ultramafic unit situated on the Mount Magnet Shear Zone > True width of mineralisation is 10-30m with a narrower high-grade zone observed in the core of the mineralised trend > Historical drilling
Slide 13: Andy Well Infrastructure
ANDY WELL INFRASTRUCTURE Significant infrastructure remains in place at Andy Well > Andy Well mine comes with significant infrastructure in place Extensive underground mine development & surface haul roads Stores warehouse Some processing infrastructure* Tailings storage facility *Several it
Slide 14: Gnaweeda Snapshot
GNAWEEDA Snapshot 40km north east of Meekatharra LOCATION 15km south east of Andy Well mine site 4.2 million tonnes @ 2.0g/t for 271,000 ounces RESOURCE 54% of ounces are in higher confidence Indicated classification Perspectivity for gold identified by Newcrest during early 1990’s with di
Slide 15: Turnberry
TURNBERRY Exploration model at Gnaweeda North > Mineralisation at Turnberry lies within a 1.5km north trending high magnetic folded dolerite unit and remains open to the north, south and at depth > Transported cover and gold depletion in the regolith render shallow air core drilling unreliable at pr
Slide 16: St Anne's
ST ANNE’S Advanced exploration at Gnaweeda North > St Anne’s ticks all the Turnberry analogue boxes St Anne’s is a geologically equivalent package of rocks to Turnberry Relative magnetic intensity Presence of dolerite or other mafic rocks in AC drilling Spherical or bullseye shape discordant
Slide 17: Chiddle Well & Bunarra
CHIDDLE WELL & BUNARRA Early stage exploration at Gnaweeda South > Bunarra > A number of small historic shafts targeting the gold lodes > Twelve diamond holes completed by Archean Star in 2010 with several significant gold intersection, including 9m @ 19.6g/t Au from 114m down hole (including 1m @ 9
Slide 18: Mining Studies
MINING STUDIES Latitude to commence combined open pit and underground mining study > Planning in place to commence ‘Base Case’ Scoping Study considering combined OP and UG mining operation > Andy Well OP/UG (505koz Mineral Resource) > Turnberry OP (271koz Mineral Resource) > 517koz in Measured and I
Slide 19: Strategic Objectives
STRATEGIC OBJECTIVES Andy Well planned works program for 2021 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Settlement with Silverlake Resources Government approvals for drill program (POW, flora & fauna, heritage) Andy Well drilling Receive Andy Well drilling assays Gnaweeda drilling Receive Gnaweeda
Slide 20: Appendix 1: Mineral Resources
APPENDIX 1 Mineral Resources Measured Indicated Inferred Total Tonnes Au Grade Au Ounces Tonnes Au Grade Au Ounces Tonnes Au Grade Au Ounces Tonnes Au Grade Au Ounces Project (kt) (g/t) (oz) (kt) (g/t) (oz) (kt) (g/t) (oz) (kt) (g/t) (oz) Andy Well 127 13.7 56,000 1,063 9.2 315,000 628 6.6 134,000 1
Slide 21: Appendix 2: Biographies
APPENDIX 2 Biographies Board & Management Timothy Moore Experienced businessman and active investor in industries including media, technology and resources industries Non-Executive Chairman Holds several other Board positions with private companies and has a Bachelor of Business degree from UTS
Slide 22: Appendix 3: Source data for EV/Resource Ounce comparison
APPENDIX 3 ASX:LCD Source data for EV/Resource Ounce comparison Company BGL MGV MAT MXR OBM GMD KIN CAI AOP AUC BRB HRZ KAI CLZ BDC STN LCD Price 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02/2021 5/02
Slide 23: Latitude Consolidated Limited
ASX:LCD LATITUDE CONSOLIDATED LIMITED GROUND FLOOR, 16 ORD STREET WEST PERTH WA 6005 Tim Davidson │Chief Executive Officer (08) 9482 0550 info@latitudeconsolidated.com.au www.latitudeconsolidated.com.au