Bardoc Gold — Corporate Update (September 2021)
28 slides from Bardoc Gold's corporate update, September 2021
Slide 1: Australia's new long-life high-margin gold project
Ready for development ✓ +3Moz Resource Australia’s new long -life in a Tier-1 location ✓ +1Moz Mining Reserve high-margin gold project ✓ Targeting +150kozpa production from year 3 Project Update – September 2021 ✓ AISC of ~A$1,301/oz Robert Ryan | CEO ✓ Financing discussions well BARDOC GOLD LIMITED
Slide 2: Disclaimer
Disclaimer This document and all other information (whether in writing or otherwise) which may be made available or part thereof does not: Contain all information that investors and their professional advisers would require to make an informed assessment of the following: ▪ a) assets and liabilities
Slide 3: Corporate & Project Overview
Corporate & Project Overview
Slide 4: Poised to Transform into an Australian, Long-life, Gold Producer
Poised to Transform into an Australian, Long-life, Gold Producer ▪ +1Moz gold development project in a Tier-1 jurisdiction ▪ 250km2 tenement package just 40km north of Kalgoorlie ▪ 3.07Moz Resource, 1Moz Reserve ▪ Targeting +150koz pa of high-grade, high-margin production ▪ Nominal 2.1Mtpa gold proc
Slide 5: Corporate Summary
Corporate Summary CAPITAL STRUCTURE SHAREHOLDER SNAPSHOT Shares M 1,735 Board 10% Options M 9 Performance Rights M 46.6 Other 78% Institutions 12% Share price (30th June 2021) A$ $0.069 - Fidelity Worldwide Investment - IFM Investors Market Capitalisation A$ $119.7m - Victor Smorgon Group Cash Balan
Slide 6: Experienced Team, Ready to Deliver
Experienced Team, Ready to Deliver Executive Team Management Team Mr Ryan is a mining engineer with Mr Toms is a geologist in-depth knowledge of the with over 30 years of Robert Ryan Kalgoorlie after having worked and Bradley Toms exploration experience CEO lived in the region for over 17 Exploratio
Slide 7: Tier-1 Jurisdiction
Tier-1 Jurisdiction Located 40km north of Kalgoorlie Road, rail and power infrastructure Residential workforce Mining-friendly community 7
Slide 8: Large 3Moz Resource led by cornerstone Aphrodite deposit
Large 3Moz Resource led by cornerstone Aphrodite deposit ◼ Aphrodite deposit the high-grade base load of the operation with strong UG & OP extension possibilities ◼ Optimisation study focused bringing forward and locating the plant at Aphrodite ◼ Binding Offtake Agreement with MRI Trading AG Estim
Slide 9: Aphrodite
Aphrodite LOM Production Target LOM Production Target Life of Project 7.7Mt 660koz 6.5 Years Open Pit & Underground Open Pit & Underground Current ◼ Multiple Parallel Lodes ◼ Peak UG production of 110kozpa ◼ Open at depth, along strike and through additional lodes (Omega, Epsilon, Sigma & Gamma) ◼ D
Slide 10: Zoroastrian / Excelsior Complex
Zoroastrian / Excelsior Complex LOM Production Target LOM Production Target Life of Project 8.7Mt 419koz 8 Years Open Pit & Underground Open Pit & Underground Current ◼ Significant Mineralised zone >1.1km length ◼ Large, low-strip ratio open pit at Excelsior ◼ UG production up to 60kozpa ◼ Peak UG p
Slide 11: Optimisation Study
aoe BARDOC Gold Limited Optimisation Study
Slide 12: Optimisation Study
Optimisation Study A High Margin, Long Life Gold Project Mine life 9-year, 1.1Moz Peak production of 151kozpa (Yr 3-6) Strong FCF: A$123Mpa* * During the first 6 years of production Low AISC: A$1,301/oz 1.1Moz Mine reserves (2g/t) 3Moz Resource (>2Moz indicated) FCF NPV IRR 2.1Mt Production rate $79
Slide 13: Optimisation Study (cont.)
Optimisation Study (cont.) Assumption Changes (i) Mine Schedule Streamlined production schedule to bring Aphrodite forward Underground mine life extensions provide benefit earlier in the project life (ii) Plant and Infrastructure Relocated Processing Plant and Administration to Aphrodite to al
Slide 14: Optimisation Study (cont.) - Costs (Opex & Capex)
Optimisation Study (cont.) Costs (Opex & Capex) ▪ All contractor and owner costs have been re-assessed with current market conditions; ▪ Increased capital costs to align with rising market prices (labour, steel & copper, etc.); with ▪ Contingency to reflect potential increases in raw materials of $2
Slide 15: Optimisation Study (cont.) - Net Result
Optimisation Study (cont.) Net Result ✓ Increasing the initial 5 years of gold production; ✓ Mining higher grades at Aphrodite; ✓ Providing earlier repayment of debt; ✓ Continue exploration at Zoroastrian to increase JORC Resource ahead of mining; ✓ Allowing for the highly prospective new undergroun
Slide 16: UG Extension Optionality at Aphrodite and Zoroastrian
UG Extension Optionality at Aphrodite and Zoroastrian Potential addition of underground PRODUCED OUNCES resources and 180,000 reserves 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 - Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 OP Pits Aphrodite UG Zoroastrian UG Additional mine life generates significa
Slide 17: Timeline & Value Proposition
Timeline & Value Proposition
Slide 18: Project Development Timeline
Project Development Timeline 2021 2022 2023 Sept Dec Mar June Sept Dec Mar Jun Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Environmental Approval - Zoroastrian ENVIRONMENTAL PERMITTING Mining Proposal - Aphrodite Environmental Approval - Aphrodite Lender Engagement FINANCING Due Diligence Credit Approval Site Infrastru
Slide 19: Attractive Value Proposition
Attractive Value Proposition Undemanding Market Capitalisation and valuation multiples relative to ASX Gold Developer Peers Market Capitalisation(1) – ASX Australian Gold Developers Peak Production(2) – ASX Australian Gold Developers Bellevue $846m Red 5 235koz Red 5 $495m Bellevue 165koz Pantoro $2
Slide 20: Summary – Key Reasons To Invest
Summary – Key Reasons To Invest TIER-1 MINING JURISDICTION Strategic 250km2 (and growing) land-holding ~40km north of Kalgoorlie STRONG ECONOMICS Low cost per ounce operation, targeting gold production Q1 2023 LARGE AND GROWING RESOURCE BASE >3Moz Resource with three cornerstone deposits – Aphrodite
Slide 21: Appendices
aoe BARDOC Gold Limited Appendices
Slide 22: Appendix A: Resource Table
Appendix A: Resource Table 22
Slide 23: Appendix B: Reserve Table
Appendix B: Reserve Table PROBABLE TOTAL PROJECT Tonnes Grade Gold Tonnes Grade Gold (kt) (g/t) (koz) (kt) (g/t) (koz) Excelsior OP 5,690 1.11 203 5,690 1.1 203 Zoroastrian North OP 365 2.10 25 365 2.1 25 Zoroastrian Central OP 276 1.78 16 276 1.8 16 Zoroastrian South OP 417 1.80 24 417 1.8 24 Bulle
Slide 24: Appendix C: Environmental, Social & Governance
Appendix C: Environmental, Social & Governance Corporate Governance ▪ Reporting against select United Nations Sustainable Development Goals ▪ Provides a platform for our stakeholders to understand our business model and what differentiates us from our competitors Community and Social ▪ Positively co
Slide 25: Appendix D: Developer Comparable Data
Appendix D: Developer Comparable Data Fully Remaining Peak Market (2) Drawn Funded Mineral Mineral EV / EV / EV / Cash Pre-Production Production Capitalisation(1) Debt(2) Enterprise Reserves(6) Resources(6) Production Reserves Resources Ticker Company Capex(3) (FY24E)(5) Value(4) $M $M $M $M $M koz
Slide 26: Competent Person's Statement
Competent Person’s Statement Exploration Results Information in this presentation that relates to exploration results and exploration targets is based on information compiled by Mr. Bradley Toms who is the Exploration Manager of Bardoc Gold Limited. Mr. Toms is a Member of The Australian Institute o
Slide 27: Approval for Release
Approval for Release Approved for release by the CEO ◼ For further information contact: INVESTORS: MEDIA: Robert Ryan Bardoc Gold Limited Nicholas Read Read Corporate Telephone: (08) 6215 0090 Telephone: 0419 929 046 Email: admin@bardocgold.com.au Email: info@readcorporate.com.au 27
Slide 28: www.bardocgold.com
™™~\ BARDOC Gold Limited www.bardocgold.com