Firefly Metals Ltd · ASX:FFM
Firefly Metals — Investor Presentation (January 2024)
42 slides from Firefly Metals's investor presentation, Jan 16, 2024
Slide 1: Investor Presentation January 2024
January 2024 Investor Presentation For personal use only ASX FFM High-Grade Copper and Gold Significant and immediate growth through the drill bit • Company led by former Bellevue Gold and Northern Star executives with a proven track record • Targeting large scale rapid resource growth • World-class
Slide 2: Disclaimer & Cautionary Statements
Not for release to US wire services or distribution in the United States DISCLAIMER & CAUTIONARY STATEMENTS This presentation has been prepared by FireFly Metals Limited (the Company) based on information from its own and third party sources and is not a disclosure document. No party other than the
Slide 3: Forward Looking Information
FORWARD LOOKING INFORMATION This document contains forward looking statements concerning the Company. Forward-looking statements are not statements of historical fact, and actual events and results may differ materially from those described in the forward- For personal use only looking statements as
Slide 4: Investment Highlights
Investment Highlights Rapid low-cost growth through the drill bit - a proven strategy for value creation For personal use only GREEN BAY COPPER GOLD PICKLE CROW GOLD PROVEN TRACK RECORD • High grade copper and gold in • High grade gold in Ontario, • Management team with a proven Newfoundland & Labra
Slide 5: Exceptional Share Register and Strong Balance Sheet
Exceptional Share Register and Strong Balance Sheet FireFly Metals’ Board and Management invested A$5 million in recent placement For personal use only CAPITAL STRUCTURE CURRENT1 Shares on issue 363M A$0.56 A$203M Management performance rights 24.8M3 Current Share Price1 Market Capitalisation1 Top 2
Slide 6: Board and Management
Board and Management A Leadership team with proven success in the Resources Sector For personal use only Maddison Cramer JOINT COMPANY SECRETARY Ray Shorrocks Steve Parsons Michael Naylor Kevin Tomlinson Darren Cooke Bellevue Gold, Cygnus Metals, Midas Non-Executive Chairman Managing Director Execut
Slide 7: Exceptional In-Country Team
Exceptional In-Country Team Management team with in-depth Canadian mining expertise For personal use only Juan Gutierrez Tabatha LeBlanc Jim Edwards Gus Simbanegavi Corey Greenham Bonnie Matthews Group Chief Geologist Vice President Exploration Manager Vice President Environment and Vice President E
Slide 8: Green Bay Copper-Gold Underground Mine
Green Bay Copper-Gold Underground Mine A Large-Scale VMS Mineralised System For personal use only Drilling1,2 has extended the high-grade unmined massive sulphide zone for 350 metres and remains OPEN 74.8m @ 10.9% CuEq (9.0% Cu & 2.2g/t Au) R19-745-08 47.2m @ 6.8% CuEq (4.7% Cu & 2.2 g/t Au) RM22-79
Slide 9: A Lack of Quality Copper Opportunities on the ASX
COPPER PRODUCTION - TONNES For personal use only CY 2022 (ACTUAL) - ASX ASX FFM 50,000 100,000 0 Mount Carlton (Navarre) Savannah (Panoramic) Peak (Aurelia) Please see Appendix 11 for original source data. Ming Mine Antas (BHP) Nova-Bollinger (IGO) 1. Data Source: S&P Global, CY2022 Copper productio
Slide 10: Green Bay Copper-Gold Highlights
Green Bay Copper-Gold Highlights A low-cost acquisition that transforms FireFly into a leading ASX copper-gold developer For personal use only Upside Mines Resources Infrastructure Significant Resource Growth Operationally ready UG mine High Grade Copper-Gold +A$250M of Infrastructure • Mineralisati
Slide 11: One of the Best Mining Jurisdictions Globally
One of the Best Mining Jurisdictions Globally Newfoundland & Labrador is a top four jurisdiction for mining investment For personal use only FRASER INSTITUTE 2022 SURVEY PROVINCE OF Mining Investment Attractiveness Index1 LABRADOR & NEWFOUNDLAND MAJOR MINING & Nevada Western Australia EXPLORATION OP
Slide 12: Newfoundland - A Mining and Maritime Province
Newfoundland - A Mining and Maritime Province Ming & Little Deer Cu-Au For personal use only Mine Complex; Nugget Pond • Strong government support Gold Deposit Hydro Power Stations • Track record of expedited mine permitting throughout Newfoundland • Mining sector contributes +32% of NL GDP3 39.2Mt
Slide 13: On Location – Green Bay, all set up
On Location – Green Bay, all set up For personal use only Hydro Power Underground Portal Propane High-Grade Stockpiles Mine Heating Workshop Drillers Shed Workshop/ Water Treatment Plant Core Shed Underground Training Changerooms Room Storage Admin/Offices 50 person Sealed Camp Road 24/7 ASX FFM Acc
Slide 14: A Major VMS Copper-Gold Mineralised System
A Major VMS Copper-Gold Mineralised System DEPTH Surface Portal High-Grade Massive Sulphide Upper Zones For personal use only Shaft 0m • 74.8m @ 9.0% Cu & 2.2g/t Au (R19-745-08) • 20.7m @ 4.4% Cu & 2.1g/t Au (R19-745-04) • 41.2m @ 5.9% Cu & 1.3g/t Au (R22-795-06) Untested • 49.1m @ 6.2% Cu & 1.9g/t
Slide 15: Drill Results Extend High-Grade Zone 350m - Remains Open
Drill Results Extend High-Grade Zone 350m - Remains Open New Drill Drive for multiple drill platforms already 170m complete For personal use only Existing underground development Limit of mine workings Exploration Drill Drive position at January 2024 170m of the planned 750m already completed 2nd dr
Slide 16: A Major VMS Copper-Gold Mineralised System
A Major VMS Copper-Gold Mineralised System DEPTH Surface Portal High-Grade Massive Sulphide Upper Zones UNMINED: For personal use only Shaft • 74.8m @ 9.0% Cu & 2.2g/t Au (R19-745-08) 0m • 20.7m @ 4.4% Cu & 2.1g/t Au (R19-745-04) Untested • 41.2m @ 5.9% Cu & 1.3g/t Au (R22-795-06) • 49.1m @ 6.2% Cu
Slide 17: Consistent and Continuous Large Scale Ore Bodies
Consistent and Continuous Large Scale Ore Bodies Large-Scale VMS Orebodies: Footwall Zone similar For personal use only widths to Rome Colosseum and Michigan State Stadium Cross Section 500m level Unmined VMS Historical mined VMS Unmined VMS High-Grade Massive Sulphide Upper Zones - UNMINED Untested
Slide 18: Consistent and Continuous Large Scale Ore Bodies
Consistent and Continuous Large Scale Ore Bodies For personal use only • Upper high-grade massive sulphide Cross Section 900m level zones unmined & open • Broad Lower footwall zone 74.8m @ 10.9% CuEq (R19-745-08) unmined & open High-Grade Massive Sulphide Upper Zones -UNMINED • Underground drilling
Slide 19: Mining Depths in Canada – Significant Scope to Grow
Mining Depths in Canada – Significant Scope to Grow For personal use only ● The Mine is relatively shallow in comparison to other underground operations in Canada ● Low regional stress conditions allow for much deeper mining than in Western Australia ● Less than half the regional rock stress levels
Slide 20: Underground Mine is Ready and Fully Operational
Underground Mine is Ready and Fully Operational Massive Sulphide For personal use only Excellent Underground Conditions • Low-cost Care and Maintenance High-Grade Copper-Gold (~10 metre wide development at 750 level) • Ready to turn back on at any moment • Operational pumping system, vent fans & hea
Slide 21: Ready to Drill Targets – Significant News Flow
Ready to Drill Targets – Significant News Flow Rapid resource and mine growth planned over next 18 months For personal use only Milestone1 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Year 1 Immediate Growth YEAR 1 PROGRAM Growing the VMS & Lower Footwall Zone UG Drilling - Upper extensions
Slide 22: A Game Changing Catalyst Rich High-Grade Opportunity
A Game Changing Catalyst Rich High-Grade Opportunity Board & Management Team with a Proven Track Record of Creating Shareholder Wealth For personal use only Strong Cash Position of A$24 Million3 for Immediate Growth Drilling GREEN BAY COPPER-GOLD • A fully operational underground mine in tier one mi
Slide 23: Supplementary Information
Supplementary Information • Appendix 1. Pickle Crow Gold Deposit 2.8Moz @ 7.2g/t Gold For personal use only • Appendix 2. Gold Hunter Acquisition • Appendix 3. Permitting in Newfoundland & Labrador • Appendix 4. Exploration Targeting • Appendix 5. Little Deer Cu-Au Complex • Appendix 6. Processing I
Slide 24: Pickle Crow Gold Deposit – The Perfect Addition
Appendix 1 – Pickle Crow Gold Deposit – The Perfect Addition High Grade 2.8Moz @ 7.2 g/t Gold Resource and Growing For personal use only LOCATION THE ASSET – PICKLE CROW UPSIDE • Operating in a Tier 1 mining • High-grade historical gold • 2.8Moz @ 7.2g/t inferred gold jurisdiction, Ontario Canada pr
Slide 25: An Exceptional Asset in a World-Class Location
Appendix 1 – An Exceptional Asset in a World-Class Location Pickle Crow Gold Deposit is surrounded by World-Class Gold Mines For personal use only PICKLE CROW 2.8mOZ @ 7.2G/T Gold Resource ASX FFM 25
Slide 26: Significant Shallow Open Pit Potential
Appendix 1 – Significant Shallow Open Pit Potential For personal use only Significant Potential to Grow the 2.8Moz @ 7.2g/t Resource • Potential for Open Pit as well as Underground mining at the Pickle Crow Deposit • Significant proportion of resource shallow from surface • Over 1Moz above 0.5g/t in
Slide 27: Huge Discovery Potential - An Entire Mineral District
Appendix 1- Huge Discovery Potential- An Entire Mineral District For personal use only EXCEPTIONAL UPSIDE • First time entire Pickle Crow district held by one company • Over 46km of strike to be tested • Regional systematic geochemical sampling underway • Low-cost discovery potential • Numerous high
Slide 28: Green Bay Copper-Gold Additional Ground
APPENDIX 2 – GREEN BAY COPPER-GOLD ADDITIONAL GROUND For personal use only Ming’s Bight GOLD HUNTER ACQUISITION La Scie Baie Verte • Agreed to acquire 169sqkm of additional Ming ground adjacent to the Green Bay copper-gold HWY 414 project from Gold Hunter Resources Inc. (CNSX: HUNT) Nugget Pond Mill
Slide 29: Permitting in Newfoundland & Labrador
Appendix 3 – Permitting in Newfoundland & Labrador For personal use only Case Study – Valentine Gold Project Marathon Gold, Newfoundland • Developing the Marathon-Leprechaun Mine Complex • A large open pit and 3Mtpa Mill • Greenfields site – no previous mining • EA process completed in only 2.5 year
Slide 30: Permitting in Newfoundland & Labrador
Appendix 3 – Permitting in Newfoundland & Labrador Strong government support and leveraging existing permits to fast-track any future expansion For personal use only The Federal Environmental Assessment (EA) Process Impact Assessment Act 2019 • In Canada, approvals are Province-based, however for la
Slide 31: Exploration Targeting
Appendix 4 – Exploration Targeting MING DEPOSIT MODEL HIGHLIGHTS EXCEPTIONAL EXPLORATION UPSIDE1 For personal use only Ming North EXPLORATION OPPORTUNITY 1806 1807 Parallel VMS zones untested • Limited exploration has been conducted in the past 40 years – a key opportunity Ming South • Downhole geop
Slide 32: Nearby Little Deer Cu-Au Complex
Appendix 5 – Nearby Little Deer Cu-Au Complex An unrealised opportunity with significant growth upside For personal use only TWO HISTORICAL MINES WITH NO MODERN EXPLORATION • Little Deer and Whalesback deposits mined between 1960 and 1972 (historic production of 3.8Mt @ 1% Cu) Untested • Significant
Slide 33: Green Bay Project over A$250M of Mines and Infrastructure
Green Bay Project over A$250M of Mines and Infrastructure Ming Cu-Au Mine Complex Nugget Pond Processing Plant For personal use only Ming Mine • Current Resource1 30.2Mt @ 1.81% Cu & 0.5g/t • Conventional 500ktpa / 1,500tpd Au for 634kt @ 2.1% CuEq (68% M&I) Nugget Pond Plant crushing, grinding and
Slide 34: Processing Infrastructure
Appendix 6 – Processing Infrastructure Fully permitted 500ktpa processing plant and port facility For personal use only Metallurgically Simple Standard Processing Method with HYDROMET PLANT CONCENTRATOR PLANT 96% Historic Copper Recovery Crushing Tailings Dam & Polishing Floatation • 2 stage Jaw and
Slide 35: Learning From The Past - An Opportunity
Appendix 7 – Learning From The Past- An Opportunity GROWING THE RESOURCE AND OPERATING AT THE RIGHT SCALE For personal use only • Two key areas have prevented the past success of the Ming operation – Orebody definition and a high-cost structure driven by inappropriately sized infrastructure relative
Slide 36: Learning From The Past – An Opportunity
Appendix 7 – Learning From The Past – An Opportunity EXAMPLE OF POOR PRE-MINING DEFINITION DRILLING For personal use only Stope Cross Section 1 • The 760L Lower Footwall drive was mined prior to grade control drilling 760L • In-drive drilling identified significant mineralisation in the footwall ori
Slide 37: Macro Copper Landscape
Appendix 8 – Macro Copper Landscape FireFly is well positioned to capitalise on the structural deficit in copper supply driven by For personal use only the explosion in demand driven by global decarbonisation technologies GLOBAL COPPER CONSUMPTION COPPER USE IN ENERGY DECARBONISATION FORECAST1 TECHN
Slide 38: Macro Copper Landscape
Appendix 8 – Macro Copper Landscape • THE ELECTRIC VEHICLE REALITY For personal use only There are not enough copper mines in the world to meet forecast demand driven by decarbonization A battery EV uses nearly 4 times more copper than an ICE2 • Copper grades are dropping, mines are becoming deeper
Slide 39: ESG is the Cornerstone of FireFly's Business
Appendix 9 – ESG is the Cornerstone of FireFly’s Business • Commitment to baseline monitoring and For personal use only progressive rehabilitation Sustainability is at the forefront • Minimisation of disturbance, maintaining a Environment healthy ecosystem • Agreement signed with • Improve what Fire
Slide 40: FireFly Metals Resources
Appendix 10 – FireFly Metals Resources For personal use only Mineral Resources – Green Bay Copper – Gold Project1 Measured Indicated Inferred TOTAL RESOURCE MING MINE Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Copper 1.71% 144kt 1.85% 284Kt 1.86% 120kt 1.81% 547kt Go
Slide 41: 2022 Copper Production Data
Appendix 11 – 2022 Copper Production Data S&P GLOBAL – 2022 Asset Copper Production Source Data For personal use only 2022 Cu PROPERTY CURRENT OWNER PRODUCTIO SOURCE DATA N (Tonnes) Mount Carlton Navarre Minerals Ltd. 1,838 https://minedocs.com/23/Navarre-PR-06302022.pdf Peak Aurelia Metals Ltd. NA
Slide 42: 2022 Copper Production Data (Continued)
APPENDIX 11 – 2022 COPPER PRODUCTION DATA S&P GLOBAL – 2022 Asset Copper Production Source Data (Continued) For personal use only 2022 Cu PROPERTY CURRENT OWNER PRODUCTIO SOURCE DATA N (Tonnes) Copper Mountain Hudbay Minerals Inc. 23,996 https://www.prnewswire.com/news-releases/copper-mountain-minin
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