Panoro Minerals Ltd. · TSXV:PML
Panoro Minerals — Investor Presentation (March 2023)
29 slides from Panoro Minerals's investor presentation, March 2023
Slide 1: Developing Peru's Next Copper Mine
DEVELOPING PERU’s NEXT COPPER MINE TSX-V: PML Corporate Presentation BVL: PML March 2023 OTC: POROF BORSE: PZM
Slide 2: Forward Looking Statements
Forward Looking Statements CAUTION REGARDING FORWARD LOOKING STATEMENTS: Information and statements contained in this presentation that are not historical facts are “forward-looking information” within the meaning of applicable Canadian securities legislation and involve risks and uncertainties. Exa
Slide 3: A Decade of Exploration Success
A Decade of Exploration Success • USD $1.0 Billion of Value Defined • Over 1.0 Billion tonnes of Resource Identified • More than 100,000 m of Exploration Drilling • In Excess of USD $50M Invested • USD $650M Funding Arranged • Key Strategic Partners TSXV-PML Page 3
Slide 4: The Era of Copper
The Era of Copper • Global Forces Driving Demand Growth 1. Energy Security 2. Climate Change • Innovation Supporting Demand Growth 1. Electric Vehicles 2. Solar and Wind Power Generation • Worldwide Demographics Enhancing Demand 1. Urbanization China, India, S.E. Asia, Others to follow 2. Industrial
Slide 5: Mining in Peru – Road Map to Development and Stability
Mining in Peru – Road Map to Development and Stability POLITICAL AND ECONOMIC STABILITY(1) Income - Mining Industry constitutes one of the main sources of fiscal income for Peru Progress - Economic recovery and the reduction of poverty go hand in hand with the progress of the mining sector Ongoing P
Slide 6: Peru – A Global Mining Power
Peru – A Global Mining Power • Mining Represents 11% of Peru’s GDP1,2 • Copper Mining accounts for 6%, 60% of exports3 • Over 95% of Cu Production is exported • 11% of total Private Investment2 • 57% of Total Exports of Goods2 • 7.9% of Total General Government Revenues2 • Generates linkages with ot
Slide 7: Capital Structure & Share Performance
Capital Structure & Share Performance Tickers TSX-V:PML BVL:PML BORSE:PZM OTC:POROF Share Price $0.12 52 Week Low-High $0.10 - $0.21 Shares Issued 264.4M Options 11.3M Fully Diluted 275.6M Market Capitalization Undiluted $32.0M Fully diluted $33.0M Cash(1) $9.8M 1) As of September 2022 TSXV-PML Page
Slide 8: Peru's Southern Copper Cluster
Peru’s Southern Copper Cluster - Chile (#1) and Peru (#2) account for approximately 40% of global copper production - Peru doubled copper production from 2012- 2016 - More than $US20 billion invested into new or expanded copper mines in southern Peru. - Cotabambas Project to be next large-scale proj
Slide 9: Cotabambas Project Pre-Feasibility
Cotabambas Project Pre-Feasibility • Commenced 2022 − Infill & Step-out Drilling − Metallurgical Testing − Technical studies • Completion 2023 NI43-101 Reports − Resource update − PFS Technical Report • Pre-Feasibility Study is Fully Funded TSXV-PML Page 9
Slide 10: Environmental Licensing
Cotabambas Project Environmental Licensing Environmental Licensing – Historical 1. Cotabambas-Ccalla - Constancia de Aprobación Automática N° 062-2010-MEM-AAM del 4 de octubre del 2010, Aprobación de la Environmental Licensing Declaración de Impacto Ambiental (DIA) Current EIA-sd 2. Cotabambas-Guacl
Slide 11: Community Relations
Cotabambas Project Community Relations COCHAPPATTA COMMUNITY CONVENIO Current Drilling Campaign 9th Community Convenio Land Purchase Local Labor Economic Support to Seniors Scholarships TSXV-PML Page 11
Slide 12: Opportunities - Resource
Cotabambas Project Opportunities - Resource Drill Company Year Metres Holes Antofagasta 1995 to 200 24 8,538 CDLM 2002 to 2007 10 3,252 Panoro 2007 to 2012 29 17,785 Panoro 2012 to 2013 81 40,467 Panoro 2013 to 2014 11 4,946 Panoro 2017 to 2018 36 8,805 Panoro 2019 5 997 Panoro 2022 26 10,321 Total
Slide 13: PFS Drilling Program
Cotabambas Project PFS Drilling Program Two Stage Drilling Program Infill Drilling Step Out Drilling o Upgrade Inferred resource to Indicated o Include additional Sulfide and Oxide resource o 370 Mt upgrade o 90Mt @ 0.50% Cueq Primary Sulfides, plus o 20Mt @ 0.50% Cu Oxides PFS Drilling Plan Drillin
Slide 14: Resource Growth, Upgrade and High Grade
Cotabambas Project Opportunities Resource Growth, Upgrade and High Grade North Pit North Side South Pit Infill North Pit Infill Upgrade to Indicated Add High Grade Resource Upgrade to Indicated South Side North and South Pit South Pit Gap Area Add High Grade Resource Grow Total Resource TSXV-PML Pag
Slide 15: South Pit High Grade Zone
South Pit High Grade Zone • Continuity of Cueq > 0.90% to bottom of pit • High grade zone open at depth TSXV-PML Page 15
Slide 16: North / South Pit Gap Area
North / South Pit Gap Area Resource Growth Potential RESOURCE GAP AREA TSXV-PML Page 16
Slide 17: North Pit High Grade Continuity
North Pit High Grade Continuity TSXV-PML Page 17
Slide 18: 2022 – 2023 Drillhole Highlights
2022 – 2023 Drillhole Highlights Drillhole Location Intersection (m) Cueq% Drillhole Location Intersection (m) Cueq% 195.8 0.92 CB-205 North Pit 79.2 1.05 40.5 0.67 341.7 0.91 CB-195 South Pit 19.5 1.83 CB-206 North Pit 115.6 2.02 135.8 0.88 68.6 2.93 45.7 1.51 290.2 0.55 148.6 0.61 153.6 0.69 CB-20
Slide 19: Opportunities – Metallurgy
Cotabambas Project Opportunities – Metallurgy Optimize Flow Sheet Reduce Grinding Gravity Circuit Increase Cu Recovery Mill over design Increase Recovery of Au/AG (Target +3%) Reduce Capex and Opex (Target 1%) Increase Au/Ag Recovery (Target 40%) (Target +9%) INCREASE NPV / IRR REDUCE CAPEX AND OPEX
Slide 20: Opportunities – Others
Cotabambas Project Opportunities – Others 11 12 13 Pit Slopes Wasterock Storage Tailing Storage • Steepen slopes from 42o • Reduced wasterock • Assess commingling / co- (Target 50o to 55o) production disposal with wasterock • Reduce Wastrock o Pit slope steepening • Reduce footprint of project • Cap
Slide 21: PEA Estimates
Cotabambas PEA Estimates COTABAMBAS2 KEY PROJECT PARAMETERS CU/AU/AG (IN USD CURRENCY) PROJECT (GROWTH TARGETS) Mill Feed, life of mine million tonnes 483.1 Mill Feed, daily tonnes 80,000 Strip Ratio, life of mine waste: process feed 1.25 : 1 NPV7.5% million USD 683 After Tax IRR % 16.7 @ PEA Prices
Slide 22: Targeting Growth
Cotabambas Project Targeting Growth S E P T E M B E R 2 0 1 5 P E A CASH COSTS, NETS OF BY BEFORE TAX PRODUCTS CREDITS $1,052M NPV C1 $1.22/lb Cu 20.4 % IRR C2 $1.94/lb Cu 3.2 Year Payback AFTER TAX ANNUAL PAYABLE METALS $683M NPV 155 M lbs Cu 16.7 % IRR 95 k oz Au 3.6 Year Payback 1,018 k oz Ag LIF
Slide 23: Cluster 1 and Cluster 2 Project Scale Expansion Potential
Cotabambas Project Cluster 1 and Cluster 2 Project Scale Expansion Potential CLUSTER 2 SECTION High Chargeability, ?Porphyry Stock? High Magnetics, ?Skarn? TSXV-PML Page 23
Slide 24: Valuation Potential
Cotabambas Project Valuation Potential (USD unless indicated otherwise) PEA ADD: IMPROVE: ADD: INCREASE: Oxides Mixed Zone High Grade Commodity Metallurgy Sulphides - 90 Mt Prices3 Net Present Value2 (million USD) $684 $1,224 $1,395 $1,970 $4,550 6.7 X IRR2 (%) 16.7% 23.5% 25.9% 29.8% 52.0% 3.1 X Pa
Slide 25: M&A Targets
Cotabambas Project M&A Targets Copper Outlook Report March 2021 Top Projects to Look out for • 65 Copper Development Projects Worldwide • 23 Projects Identified as Potential M&A Targets Copper Project M&A Report • Cotabambas Project Identified Among the Top Twelve December 2021 Luquman Shaheen; Pres
Slide 26: Panoro Minerals vs. Peer Group
Panoro Minerals vs. Peer Group Enterprise Value / lb Cueq 8 times Uplift 33.9 Significant Valuation Rerating Potential from: 10 times 26.5 1. Antilla Transaction Benchmark Uplift 21.8 2. Cotabambas Project Growth Funding 11.1 7.7 8.7 8.9 3.1 3.6 3.6 4.4 1.3 1.3 1.9 2.5 0.4 0.4 0.5 0.5 0.5 0.6 0.9 0.
Slide 27: Management & Directors – Peru Experience
Management & Directors – Peru Experience MANAGEMENT DIRECTORS LUQUMAN SHAHEEN, PENG, PE, MBA – PRESIDENT & CHIEF EXECUTIVE AUGUSTO BAERTL – CHAIRMAN OFFICER & DIRECTOR Over 50 years of experience in the Peruvian and International Over 27 years experience in mining sector, 20 years Mining Sector expe
Slide 28: Panoro Minerals Focused on Cotabambas Project
Panoro Minerals Focused on Cotabambas Project Strategic Partners • Precious Metals Streaming • Major PML Shareholder Commenced Q1 2022 Pre Fully funded Feasibility 2022 Milestones Study 97 Drillholes, 25,000 m Metallurgical Optimization TSXV-PML Page 28
Slide 29: Contact
PANGRO MINERALS LTD COTABAMBAS PROJECT 9.0-0 ar aoe =F : ViPML ; - % ~~ For further information, contact: ~ OTCOB: POROF : Luquman Shaheen, President and CEO Phone: 604.684.4246 ce BVL:PML Email: info@panoro.com BORSE:PZM : www.panoro.cony™