Latitude 66 Limited · ASX:LAT
Latitude 66 — Technical Presentation (March 2025)
24 slides from Latitude 66's technical presentation, March 2025
Slide 1: KSB Project Scoping Study
March 2025 KSB Project Scoping Study ASX:LAT
Slide 2: Disclaimer
Disclaimer Disclaimer This presentation has been prepared by Latitude66 Limited ("Company“, “Latitude” or “Lat”) in connection with providing general and background information on the Company. This presentation should not be relied upon as a representation of any matter that an advisor or potential
Slide 3: Disclaimer – Forward-Looking Statements
Disclaimer Forward-Looking Statements Certain statements contained in this presentation, including information as to the future financial or operating performance of Lat and its projects are ‘forward-looking statements’. They include indications of, and guidance on, future matters. Forward-looking s
Slide 4: Disclaimer – Mineral Resource Estimate
Disclaimer Mineral Resource Estimate The information in this presentation that relates to the Mineral Resource Estimate was reported by the Company in the previous announcement titled "Transformational Acquisition of Gold-Cobalt Development Projects'" and released to the ASX on 4 April 2024. The Com
Slide 5: KSB Project Overview
KSB Project Overview Developing a gold-cobalt project in northern Finland • JORC Mineral Resource (K1, K2 and K3): • 650koz Au and 5,840t Co1 • High margin gold and cobalt Mineral Resource • Significant landholding in the KSB region 5 • Third largest undeveloped cobalt resource in European Union2 •
Slide 6: Scoping Study Results Summary
Scoping Study Results Summary Highly economic standalone gold-cobalt operation with expansion potential NPV8 (After Tax) IRR (After Tax) CAPEX AISC US$310 million 74% US$101 million US$1,038/oz gold US$433 million at spot pricing IRR 98% at spot pricing 6 PAYBACK PERIOD LOM FREE CASH FLOW (After Tax
Slide 7: Scoping Study Parameters
Scoping Study Parameters Mining • Mineral Resource at Juomasuo (K1, K2 & K3) • K2 starter pit to optimise mine schedule • 90% from Indicated category • Examine scale potential for the project • Explore potential to expand near mine Mineral Resource and KSB South project area 7 Processing • Test work
Slide 8: Upside opportunities
Upside opportunities Near mine exploration potential and low capital expansion K1 pit expansion potential Low Capital Expansion Plant Capacity Capital Cost US$M 0.75Mtpa 101 1.00Mtpa 114 1.25Mtpa 127 1.50Mtpa 140 8 Near mine K6E & K6W Prospects
Slide 9: Upside opportunities
Upside opportunities PFS to evaluate project optimisation Low carbon emissions Accessing established non-fossil fuel power network Underground trade-off potential Finnish Power Generation by Source 9 Source: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://energia.fi/wp- content/uploads/2
Slide 10: Mineral Resource to Mining Schedule
Mineral Resource to Mining Schedule High level of confidence Over 85% of Mineral Resource 90% of mine schedule in Indicated category from Indicated category KSB gold mineral resource estimate* 10 * Refer to Prospectus announced by DCX on 26/4/2024
Slide 11: Mine Plan
Mine Plan Starter pit at K2 3 open pits within close proximity 97% from Indicated category during payback period 11 Strip ratio 11.4:1 LOM average
Slide 12: Processing Plant
Processing Plant Conventional flow sheet with high recoveries Mine ROM Pad Pebble Crusher Cyclone Crush SAG Mill Ball Mill Coarse Ore Stockpile Gravity Recoveries: Concentrator Gold 93% & Cobalt Rich Electrolyte Concentrate 70% Flotation CIL Intensive Leach 12 Thickener Cyanidation Tails Concentrate
Slide 13: Mineral Processing
Mineral Processing High gravity recovery Free milling conventional CIL operation Simple flotation to recover cobalt concentrate 13 Gold Recovery K1 Domain 2 K1 Domain 3 K2 Gravity 53.8% 58.1% 66.6% Direct Cyanidation 94.1% 89.2% 92.0% Gravity + Cyanidation 94.7% 92.1% 94.6%
Slide 14: CAPEX & OPEX
CAPEX & OPEX Low capex and opex provide a high-margin operation Approx. 16-month payback 14 Costs Measure Unit Base Case Mining Costs (all tonnes) US$/t milled 3.75 AISC: US$1,036/oz gold Road transport costs US$/t milled 7.18 Operating Processing costs US$/t milled 24.95 General and administration
Slide 15: Regional Infrastructure
Regional Infrastructure Established national road network and National Power network Existing KSB Project office and laydown area 15 International All-weather Airport Existing Water Treatment Facility
Slide 16: Processing Plant location in Kuusamo
Processing Plant location in Kuusamo Location Benefits • Permitting • Enhanced environmental outcomes • Access to national electricity grid 16 • Access to water treatment facility • Skilled labour within close proximity
Slide 17: Cumulative Free Cash Flow
Cash Flow Free Cash Flow (€m) €500m total free cash flow 130 500 100 400 Cumulative Free Cash Flow After tax Free Cash Flow 70 300 18 Month Construction 40 200 17 100 10 -1 0 1 2 3 4 5 6 7 8 0 -20 -100 Payback 16 Months -50 -200 -80 -300 Free Cash Flow Cummlative
Slide 18: Outlook
Outlook 2025 Catalyst Finland Australia KSB Edjudina 1. Drilling for resource extension 1. Aircore drilling underway 2. Environmental Permitting 2. Follow up RC drill program 18 3. Partnerships (offtake/strategic partners) Greater Duchess JV (Carnaby) PSB 1. Value realisation 1. EM survey 2. Drillin
Slide 19: Highly Economic Gold-Cobalt Development
Highly Economic Gold-Cobalt Development NPV8 (After Tax) IRR (After Tax) CAPEX AISC US$310 million 74% US$101 million US$1,038/oz gold US$433 million at spot pricing IRR 98% at spot pricing PAYBACK PERIOD LOM FREE CASH FLOW (After Tax) ANNUAL GOLD ANNUAL COBALT PRODUCTION PRODUCTION 19 16 months US$
Slide 20: Thank you
Thank you Grant Coyle P +61 (0) 421 777 059 E grant@lat66.com
Slide 21: Appendix 1: KSB Project – Scoping Study Findings
Appendix 1: KSB Project – Scoping Study Findings Highly economic gold-cobalt development opportunity with expansion potential Low Cost Gold-Cobalt Production Conventional operations Operational Opportunities • First quartile all-in sustaining cost • Open pit mine operation across three deposits • Un
Slide 22: Appendix 2: KSB Project Economics
Appendix 2: KSB Project Economics 22
Slide 23: Appendix 3: KSB Project Sensitivities
Appendix 3: KSP Project Sensitivities Gold price is the dominant sensitivity Table 13: Base Case Key Financial Metrics 23 Gold Price NPV8 IRR Payback (US$/oz) (US$M) (A$M) (%) (Months) 2,500 310 492 74 16 3,000 433 687 98 12
Slide 24: Appendix 4: Community Benefits
Appendix 4: Community Benefits Opportunities to improve local infrastructure and services Increasing population and economic activity are strengthening local service provision, such as schools and healthcare Employment Economic Benefits (per year) 24 Finland • Direct employment during production: 20