Pantoro Gold Limited · ASX:PNR
Pantoro Gold — Pantoro — Investor Presentation (October 2022)
53 slides from Pantoro Gold's investor presentation, Oct 20, 2022
Slide 1: Equity Raise Presentation
Click to edit Master title style Not for release to US wire services or distribution in the United States For personal use only Equity Raise Presentation October 2022 ASX:PNR www.pantoro.com.au
Slide 2: Important Notices
IMPORTANT Click to edit NOTICES Master title style For personal use only Nature of Document. This presentation has been prepared and issued by Pantoro Limited (Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon
Slide 3: Company Overview
Click to edit Master title style For personal use only COMPANY OVERVIEW www.pantoro.com.au 3
Slide 4: Western Australian Focused Miner
WESTERN AUSTRALIAN FOCUSED Click to edit Master titleMINER style For personal use only PANTORO IS A MULTI-ASSET, HIGH GRADE PRECIOUS METALS PRODUCER WITH TWO PROVINCE SCALE OPERATIONS IN TIER 1 JURISDICTION OF WESTERN AUSTRALIA LARGE HIGH-GRADE MINERAL RESOURCE HALLS CREEK BROOME § 24.8 million tonn
Slide 5: First Gold Pour from Norseman
FIRST GOLD ClickPOUR to editFROM NORSEMAN Master title style For personal use only www.pantoro.com.au 5
Slide 6: Norseman Commissioning and Mining Progress
NORSEMAN COMMISSIONING Click AND MINING to edit MasterPROGRESS title style For personal use only NORSEMAN COMMISSIONING DELAYS § Practical completion of construction of the Norseman Gold Project processing plant was announced to the ASX on 6 September 2022. § First production was expected in Septemb
Slide 7: Halls Creek Recovering
HALLS Click CREEK to edit RECOVERING Master title style For personal use only HALLS CREEK OPERATIONS § Halls Creek was heavily affected by COVID-19 during the last year. Serious personnel shortages resulted in production and development operations to fall significantly from plans. § Gold production
Slide 8: Corporate Overview of Pantoro
CORPORATE Click OVERVIEW OF PANTORO to edit Master title style For personal use only SHARE PRICE BOARD – DIVERSITY AND STABILITY $0.50 50 WAYNE ZEKULICH – NON EXECUTIVE CHAIRMAN PAUL CMRLEC – MANAGING DIRECTOR $0.40 40 § Financial management, banking and accounting background § Mining Engineering ba
Slide 9: ESG Priorities Being Formalised
ESG PRIORITIES BEING Click to edit FORMALISED Master title style For personal use only PANTORO HAS ALWAYS BEEN A RESPONSIBLE MINER Reporting our achievements and adding shareholder value has become a priority § Building on a strong base of existing ESG achievements reflecting our Core Values. Moving
Slide 10: Equity Raising Overview
Click to edit Master title style For personal use only EQUITY RAISING OVERVIEW www.pantoro.com.au 10
Slide 11: Equity Raise Overview
ClickEQUITY RAISE OVERVIEW to edit Master title style For personal use only PANTORO IS CONDUCTING AN EQUITY RAISE VIA A TWO-TRANCHE INSTITUTIONAL PLACEMENT & SPP OFFER SIZE AND § Pantoro is conducting a two-tranche institutional placement of new fully paid ordinary shares in Pantoro (“New Shares”) t
Slide 12: Sources & Uses of Funds
SOURCES Click to edit&Master USES OF titleFUNDS style For personal use only PROCEEDS WILL STRENGTHEN PANTORO’S BALANCE SHEET THROUGH THE RAMP-UP PHASE FOR NORSEMAN SOURCES OF FUNDS A$m USES OF FUNDS A$m Existing cash and gold1 11.5 Norseman ramp-up support 12.5 Capital raising (before costs) – Tranc
Slide 13: Indicative Timetable and Pro-Forma Capital Structure
INDICATIVE TIMETABLE AND PRO-FORMA CAPITAL Click to edit STRUCTURE Master title style For personal use only EVENT DATE1 Record Date for eligibility to participate in SPP Wednesday, 19th October 2022 ASX announcement: Trading halt Thursday, 20th October 2022 Announcement of Equity Raising & Placement
Slide 14: Norseman Gold Project (PNR 50%)
Click to edit Master title style For personal use only NORSEMAN GOLD PROJECT (PNR 50%) www.pantoro.com.au 14
Slide 15: A Large Goldfield with Many Targets to Continue Growth
A LARGE GOLDFIELD WITH MANY TARGETS TOedit Click to CONTINUE GROWTH Master title style For personal use only MULTIPLE MINING CENTRES § 800km2 position with contiguous tenure of 70km along strike in one of Australia’s most significant goldfields § Long life mines: production from two key mining centr
Slide 16: Simple Startup with Two Active Mining Centres
SIMPLE STARTUP WITH TWO ClickACTIVE to edit MINING CENTRES Master title style For personal use only SCOTIA OK MINE Mineral Resource 3.9Mt @ 3.6g/t Mineral Resource 0.6Mt @ 10.2g/t Historic Mined Grade 5.9g/t1 Historic Mined Grade 9.1g/t Type OP & UG Type Underground Open pit years 1 – 5+ Underground
Slide 17: New Processing Facility in Operation
NEW PROCESSING Click toFACILITY IN OPERATION edit Master title style For personal use only www.pantoro.com.au 17
Slide 18: Open Pit Mining at Scotia and Green Lantern
OPEN PIT MINING AT Click SCOTIAto AND GREEN title edit Master LANTERN style For personal use only www.pantoro.com.au 18
Slide 19: Underground Mining at OK
UNDERGROUND MINING Click to edit Master title AT OK style For personal use only www.pantoro.com.au 19
Slide 20: Large Scale Deposits - Scotia Mining Centre
LARGE SCALE DEPOSITS Click- to SCOTIA MINING edit Master CENTRE title style For personal use only SCOTIA & GREEN LANTERN HAVE GROWN RAPIDLY WITH DRILL SUCCESS § Pantoro inherited a Mineral Resource of 410,000 Oz in 2019 with no Ore Reserve § Mineral Resource has been expanded to 1,000,000 Oz and Ore
Slide 21: Scotia - Deep Drilling Reveals Exciting Future
SCOTIA – DEEP DRILLING REVEALS Click to edit EXCITING FUTURE Master title style For personal use only UPGRADED SCOTIA RESERVE & LOM PLAN § Underground Ore Reserve now 184,000 and Mining Inventory including Inferred Resource blocks 214koz1 § Opportunity to increase mill grade and annual production wh
Slide 22: Scotia - Massive System in All Directions
SCOTIA - MASSIVE SYSTEM IN ALL DIRECTIONS WITH Click HG ON to edit ALL MARGINS Master title style For personal use only Source: 1. ASX releases dated 9/6/20, 15/4/2020, 21/5/2020 , 57/7/22 and 7/04/2022 www.pantoro.com.au 22
Slide 23: High Grade Underground OK Mine Long Section
HIGH to Click GRADE UNDERGROUND edit Master title style For personal use only OK UNDERGROUND MINE OK MINE LONG SECTION § OK Mine produced approximately 500Kt @ 9.1g/t up to 1997 § Mining commenced in July 2022 § Key part of production recommencement plan featuring in first 6 of 7 years. Completely o
Slide 24: One of Western Australia's Premier Goldfields
ONE OF WESTERN AUSTRALIA’s Click to PREMIER GOLDFIELDS edit Master title style For personal use only MINE PLAN CURRENTLY UNDERPINNED BY <30% OF MINERAL RESOURCE AREAS § Work programs to date focussed on six initial Mining Areas: § Scotia § Gladstone § Cobbler § OK § Maybell § Princess Royal § Substa
Slide 25: Norseman Mainfield
NORSEMAN Click to edit MasterMAINFIELD title style For personal use only § Mainfield is the most prolific mining area at Norseman to date and one Crown/ of the highest grade gold fields in WA Mararoa § First pass drilling completed with focus areas identified St Pats § Drill areas focussed on zones
Slide 26: Norseman - Drilling to Continue Growth
NORSEMAN – DRILLING TOedit Click to CONTINUE GROWTH Master title style For personal use only A HIGH SCALE, TOP TIER ASSET WORLD-CLASS GREENSTONE BELT HIGHLY PROSPECTIVE AREA SIGNIFICANT EXPLORATION UPSIDE Norseman produced ~6Moz Pantoro’s tenure is situated in the The area between Norseman and Panto
Slide 27: Norseman - Lithium JV with Mineral Resources
Click to edit Master title style For personal use only NORSEMAN – LITHIUM JV WITH MINERAL RESOURCES www.pantoro.com.au 27
Slide 28: Lithium Partnership with Mineral Resources Limited
LITHIUM PARTNERSHIP WITH MINERAL RESOURCES Click to edit LIMITED Master title style For personal use only MRL is a recognised leader in the construction and operation of hard rock lithium mines in Western Australia and brings tremendous technical, operational, and financial capacity to the Lithium J
Slide 29: Initial Drilling Confirms Lithium Bearing Pegmatites
LITHIUM PARTNERSHIP WITH MINERAL RESOURCES Click to edit LIMITED Master title style For personal use only INITIAL DRILLING CONFIRMS LITHIUM BEARING PEGMATITES Buldania - Section A Initial 8,000 metre drilling program focussed on 1.6 kilometres of BU22RC071 BU22RC044 BU22RC043 strike where elevated l
Slide 30: Halls Creek (PNR 100%)
Click to edit Master title style For personal use only HALLS CREEK (PNR 100%) www.pantoro.com.au 30
Slide 31: Halls Creek Gold Project - Keeps on Giving
HALLS CREEK GOLD PROJECT Click to edit–Master KEEPS ON titleGIVING style For personal use only HALLS CREEK LOCATION & PANTORO’S FIRST DEVELOPMENT HAS DELIVERED OVER REGIONAL TENEMENTS A LONG PERIOD § Proven high grade production & uninterrupted operation since February 2015 § Commenced operations in
Slide 32: Halls Creek - Exciting Lamboo PGE Discovery
HALLS CREEK – EXCITING Click LAMBOO PGE DISCOVERY to edit Master title style For personal use only LARGE PGE SYSTEM IDENTIFIED § Layered ultramafic basal contact spanning >20km § Thick mineralisation from surface. Both Western and Eastern Limbs of folded sequence confirmed with consistent mineralisa
Slide 33: Lamboo PGE Discovery - Drill Coverage Across the System
LAMBOO PGE DISCOVERY – DRILL COVERAGE AGROSS Click to edit MasterTHE titleSYSTEM style For personal use only BBRC22020 Wagtail South § Thick, consistent zones of mineralisation 4m @ 2.76 g/t PGE (3E) 0.143 ppm Rh & 0.134 ppm Ir Gold Mine identified from surface Inc 1m @ 6.94 g/t PGE (3E) § Very clos
Slide 34: Appendix A: Reserves and Resources
Click to edit Master title style For personal use only APPENDIX A: RESERVES AND RESOURCES www.pantoro.com.au 34
Slide 35: Reserves and Resources Statements
RESERVES Click AND RESOURCES STATEMENTS to edit Master title style For personal use only Source: ASX announcement 26/9/22 www.pantoro.com.au 35
Slide 36: Reserves and Resources Statements
RESERVES Click AND RESOURCES STATEMENTS to edit Master title style For personal use only Source: ASX announcement 26/9/22 www.pantoro.com.au 36
Slide 37: Appendix B: Future Mining and Exploration Options
Click to edit Master title style For personal use only APPENDIX B: FUTURE MINING AND EXPLORATION OPTIONS www.pantoro.com.au 37
Slide 38: Additional Large Open Pits - Gladstone
ADDITIONAL Click to edit LARGE MasterOPEN PITS title style For personal use only GLADSTONE § Historic mined grade of 4.60 PANTOROPANTORO DRILLINGDRILLING g/t (at average gold price of 4m @ 8.26 g/t Au 2m @ 18.11 g/t Au 2m @ 11.42 g/t Au 2m @ 28.94 g/t Au A$600/oz) 2m @ 3.38 g/t Au 1m @ 27.50 g/t Au
Slide 39: Large Long Life Open Pits - Cobbler
LARGE Click LONG to edit LIFE OPEN Master PITS title style For personal use only COBBLER § Virgin orebody with no previous mining § wide ore zones and a low 6:1 overall stripping ratio § Early access to ore tonnes underpins site production start up § Only 5km from processing plant WIDE ORE ZONES WIT
Slide 40: Norseman Mainfield
NORSEMAN Click to edit MasterMAINFIELD title style For personal use only Crown/ u Mainfield is the most prolific mining area at Norseman to date Mararoa St Pats u First pass drilling completed with focus areas identified u Drill areas focussed on zones easily accessed from existing infrastructure u
Slide 41: Butterfly
Click to edit MasterBUTTERFLY title style For personal use only BFRC20_009 Viking Lateral Position 2m @ 20.61 BFRCD20_034 BFRC20_029 RXRC20_001 g/t 5.5m x 5.5m 3m @ 1.45 g/t existing decline 2m @ 3.38 g/t 2m @ 10.80 g/t BFRC20_010 2m @ 4.55 g/t BFRC20_030 2m @ 3.50 g/t BFRCD21_006 1.15m @ 8.47 g/t L
Slide 42: Crown Reef
CROWN Click to edit Master REEF title style For personal use only Viewing Angle: MARCD21_061 MARCD21_077 Azimuth: 300 0.3m @ 3.79 g/t 2m @ 2.66 g/t Dip: -30 MARCD21_058 5.7m @ 35.85 g/t inc. 1.4m @ 141.57 g/t MARCD21_084 1.9m @ 2.00 g/t MARCD21_078 1.4m @ 1.39 g/t Legend: Historic Underground Approx
Slide 43: Scotia - Impressive Growth Profile with More to Come
SCOTIA - IMPRESSIVE GROWTH PROFILE Click to WITH MORE title edit Master TO COME style For personal use only OPEN Major Drill-out undertaken since Phase 1 DFS Scotia SIF Free Gift Extensions Discovery in October 2020 § Scotia Mining Centre Mineral Resource stands at 1,000,000 Oz § Scotia Mining Centr
Slide 44: Exceptional Footprint - Exploration Ongoing
EXCEPTIONAL FOOTPRINT Click– to EXPLORATION edit Master ONGOING title style For personal use only OUTSTANDING EXPLORATION TARGETS § Multiple +1Moz Targets & no systematic exploration at since early 1990’s – Until now § Extensive tenure covering the Lake Cowan area was not adequately assessed histori
Slide 45: Appendix C - Key Risks & International Offer Jurisdictions
Click to edit Master title style For personal use only APPENDIX C - KEY RISKS & INTERNATIONAL OFFER JURISDICTIONS www.pantoro.com.au 45
Slide 46: Key Risks
Click to edit Master KEY title RISKS style For personal use only Set out in this section are some of the potential risks associated with Pantoro, its business, the industry in which it operates and an investment in Pantoro shares. It is not an exhaustive list of every risk faced by Pantoro now or in
Slide 47: Key Risks
Click to edit Master KEY title RISKS style For personal use only KEY RISKS Exchange rate risk A portion of mine operation expenditures and future project equipment expenditures are denominated in foreign currency which exposes the Company to exchange rate risk. Key personnel The Company’s success de
Slide 48: Key Risks
Click to edit Master KEY title RISKS style For personal use only KEY RISKS Land access Utilisation of land for exploration and development purposes can be adversely affected by land ownership, including private (freehold) land, pastoral lease and native title land or claims under arrangements the Na
Slide 49: Key Risks
Click to edit Master KEY title RISKS style For personal use only KEY RISKS Exploration and The exploration for and development of mineral deposits is speculative and involves significant risks. Whether a mineral deposit will be commercially viable depends on a number of factors, development risk inc
Slide 50: International Offer Jurisdictions
INTERNATIONAL Click to OFFER JURISDICTIONS edit Master title style For personal use only International Offer Restrictions This document does not constitute an offer of new ordinary shares ("New Shares") of the Company in any jurisdiction in which it would be unlawful. In particular, this document ma
Slide 51: International Offer Jurisdictions
INTERNATIONAL Click to OFFER JURISDICTIONS edit Master title style For personal use only Hong Kong WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authoris
Slide 52: International Offer Jurisdictions
INTERNATIONAL Click to OFFER JURISDICTIONS edit Master title style For personal use only Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly,
Slide 53: International Offer Jurisdictions
INTERNATIONAL Click to OFFER JURISDICTIONS edit Master title style For personal use only United States This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The New Shares have not been, and will not be, registered under the US Sec