Patronus Resources Limited · ASX:PTN
Patronus Resources — Shareholder Meeting (September 2018)
19 slides from Patronus Resources's shareholder meeting presentation, Sep 3, 2018
Slide 1: General Meeting Presentation
1 PRESENTATION General Meeting 3 September 2018
Slide 2: Disclaimer
2 Disclaimer Disclaimer This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions i
Slide 3: Kin Mining – an overview
3 Kin Mining – an overview ▪ 100%-owned Leonora Gold Project (LGP) in the Eastern Goldfields region of WA ▪ Mineral Resource of 1Moz+ and active exploration programs at Cardinia and surrounding regional projects ▪ New Directors and Managing Director appointed to drive exploration and development pro
Slide 4: Corporate
4 Corporate KIN Mining NL – Share Price as at 27 August 2018 Shareholders Share price (A$) 0.125 Shares outstanding (m) 324.7 Options (m) 37.3 Market capitalisation 40.5 (A$m) Net Cash/(Debt) (A$m)1,2 4.3 1. Unaudited cash and debt as at 4 July 2018, US$5 debt converted to A$ at A$/$US rate of 0.735
Slide 5: 2018 Kin Share Price vs Junior Gold Index
5 2018 Kin Share Price vs Junior Gold Index 0.35 Resignation of MD Curtailment of LGP and Technical Appoint MD Director Suspension of LGP 0.3 Junior Gold ASX Index (goldoz.com.au) 0.25 Exploration and Development Updates 0.2 Axis Title 0.15 KIN CLOSING SHARE PRICE 0.1 $11.3M raised - 0.05 $2.4M Plac
Slide 6: DFS Recap – Delivered October 2017
6 DFS Recap – Delivered 2 October 2017 ▪ Mining ▪ 373Koz Ore Reserve - Grade 1.5g/t ▪ 10 Open pits some with additional sub-pits ▪ LOM strip Ratio 8:1 ▪ 67% of Ore is Oxide or Transitional ▪ Processing ▪ Lawlers Plant (800ktpa) plus ▪ 2.5Mw ANI Mill - ex Mt Mclure plus ▪ New Leach circuit – 92.5% re
Slide 7: The Curtailment and Suspension Decisions
7 The Curtailment and Suspension Decisions ▪ Factors leading into the Curtailment Decision included ▪ Construction commenced in February ▪ Sprott Debt Facility was drawn to US$5 million and $3.2 million Rights Issue to fund the initial construction works and exploration ▪ Any differential between th
Slide 8: The Curtailment and Suspension Decisions
8 The Curtailment and Suspension Decisions ▪ Factors leading into the Suspension Decision included ▪ Cash position ▪ Expected position at 30 June - $1.7 million ▪ Confirmed with Sprott there was no Event of Default. ▪ An Equity Raising would be required in the June quarter. ▪ Como Engineers Report.
Slide 9: Cardinia and Lawlers
9 Cardinia and Lawlers ▪ $10 million spent ▪ Cardinia ▪ Workshop, Buildings and temporary power, water, ablutions and communications established ▪ Leach Tanks partially complete ▪ Equipment refurbished, secured and stored ▪ Being used as a Hub for work programs. ▪ Lawlers ▪ Partially deconstructed ▪
Slide 10: New Operating Strategy
10 New Operating Strategy ▪ A New Operating Strategy has been adopted. ▪ No Longer “Fast Track” and “Owner Build” ▪ De-risk and enhance the project ▪ Conventional execution of the construction ▪ Money ▪ $11.3 million raised from new and existing shareholders. ▪ Funds used in work programs and Sprott
Slide 11: Cardinia Mining Centre – potential at depth
11 Cardinia Mining Centre – potential at depth ALL DRILLING DRILLING DEEPER THAN 50m DRILLING DEEPER THAN 100m DRILLING DEEPER THAN 150m ▪ Drilling has previously targeted oxide supergene mineralisation ▪ Highly successful deeper drilling campaign undertaken in Late 2017 and 2018 at Helens and Lewis
Slide 12: Helens – results from recent drilling
12 Helens – results from recent drilling • 2017 Mineral Resource – 1.03Mt @ 1.8 g/t Au for 60koz* of Au. • Consistent, primary mineralisation intersected at Helens below 100m depth. • 15,018 metres of RC and Diamond core • High grade oxide and primary mineralisation intersected at Helens over 1500m
Slide 13: Helens – results from recent drilling
13 Helens – results from recent drilling B B’ Helens – Minimal historic mining. • Primary ore discovered by Kin Mining NL in 2017 History • Current Mineral Resource – 1.03Mt @ 1.8 g/t Au for 60kOz of Au inclusive of Fiona and Helens East deposits • Phase 1 drilling complete including new geology mod
Slide 14: Lewis – extensive supergene above primary mineralisation
14 Lewis – extensive supergene above primary mineralisation ▪ Extensive shallow oxide mineralisation hosted within 3km- long Bruno-Lewis system ▪ The Oxide Ore (186k oz* Mineral Resource to circa 50m) has an underlying primary source that is yet to be fully understood ▪ Primary mineralisation discov
Slide 15: Water Supply – Cardinia and Bummer Creeks
15 Water Supply – Cardinia and Bummer Creeks • Cardinia Creek. Two production bores PB1 and PB4 tested. 15 l/s combined. • Supply construction and dust suppression water. Two more sites identified for development • Bummer Creek. Two Production Bores PB2 and PB3 tested. 25-30 l/s combined. • Supply p
Slide 16: Timelines and Costs
16 Timelines and Costs ▪ Costs ▪ It is too early to re-estimate the Cost to Complete ▪ New Mineral Resource estimate for Helens and Bruno Lewis. ▪ New Metallurgical Testwork, Ore Reserves, Mine plan and schedule. ▪ Definitive Capital estimates of Water, Power, Tailings Dam and Infrastructure ▪ Revie
Slide 17: Key Takeaways
17 Key Takeaways ▪ New Board and Management team ▪ Construction of the LGP suspended due to: • Uncertainty of the increase in the Cost to Complete • Other Project elements were not far enough advanced • The Construction as planned was putting The Company at Risk if we continued ▪ Suspension and Capi
Slide 18: Contact details
18 Contact details: Level 1, 342 Scarborough Beach Road Osborne Park WA 6017 T: 61 8 9242 2227 E: info@kinmining.com.au ASX: KIN 18
Slide 19: APPENDIX A – Kin Mining NL Mineral Resources
19 APPENDIX A – Kin Mining NL Mineral Resources Leonora Gold Project Mineral Resources Leonora Gold Project (LGP) Project Lower cut-off Indicated Resources Inferred Resources Total Resources – 1.02 Moz Au Area Grade g/t Au Mt g/t Au koz Au Mt g/t Au koz Au Mt g/t Au koz Au Mertondale Mineral Resourc
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