Chalice Mining Limited · ASX:CHN
Chalice Mining — Shareholder Meeting (November 2024)
46 slides from Chalice Mining's shareholder meeting presentation, Nov 21, 2024
Slide 1: 2024 Annual General Meeting
2024 Annual General Meeting 21 NOVEMBER 2024 ASX:CHN ASX: CHN
Slide 2: Agenda
Agenda 01 Chair’s Address 02 MD & CEO Presentation 03 Item 1 – Annual Report & Questions 04 Item 2 – Resolutions, Proxies & Voting ASX: CHN 2
Slide 3: Board of Directors and Executive Management
Board of Directors and Executive Management Board of Directors Key Management Derek La Ferla, Non-Executive Chair Chris MacKinnon, CFO • Highly regarded ASX200 chair and company director with • Qualified accountant and lawyer with 15+ years experience of 30+ years experience as a corporate lawyer pr
Slide 4: Chair's Address
ANNUAL GENERAL MEETING Chair’s Address Derek La Ferla ASX: CHN
Slide 5: MD & CEO Presentation
ANNUAL GENERAL MEETING MD & CEO Presentation Alex Dorsch ASX: CHN
Slide 6: Cautionary statements and competent person(s) disclosure
Cautionary statements and competent person(s) disclosure Authorisation Forward Looking Statements This Presentation has been authorised for release by the Disclosure Committee. This Presentation may contain forward-looking statements and forward information, (collectively, forward-looking statements
Slide 7: Cautionary statements and competent person(s) disclosure (cont'd.)
Cautionary statements and competent person(s) disclosure (cont’d.) Reliance on Third Party Information Production Targets and Forecast Financial Information The views expressed in this Presentation contain information that has been derived from third party sources that have not been The production t
Slide 8: Chalice Mining is a leading critical minerals explorer-developer in Western Australia
Chalice Mining is a leading critical minerals explorer-developer in Western Australia Tier-1 scale Resource in WA – the Gonneville Project • 100% ownership of one of the largest undeveloped PGE-Ni-Cu-Co (critical minerals) resources in the western world • 17Moz of Pd-Pt-Au (3E), 960kt Ni, 540kt Cu,
Slide 9: Strong financial position and stable, highly institutional register
Chalice has a uniquely strong financial position and a stable, highly institutional register Major shareholders3 ASX:CHN 12-month performance Tim Goyder 2.50 11% Retail/Other 2.00 Institutional Paradice (5%) 53% Others (31%) 1.50 36% 1.00 0.50 Capital structure 0.00 Shares on issue 389M Market capit
Slide 10: Palladium and nickel prices remain at 4-6yr lows
2024 has been another volatile year for palladium and nickel prices, which remain at 4-6yr lows 12-month relative price performance (rebased to ASX: CHN) 2.1 ASX:CHN Palladium (LBMA) Nickel (LME) Copper (LME) 1.9 1.7 +8% 1.5 +1% -5% 1.3 -9% 1.1 0.9 0.7 0.5 23-Nov-23 23-Dec-23 23-Jan-24 23-Feb-24 23-
Slide 11: Our discovery in 2020 defined the Company's DNA – dual focus
Our discovery in 2020 defined the Company’s DNA – we have a dual focus on developing Gonneville and making further discoveries 01 02 03 Generate New Discoveries Define New Resources De-Risk Development • Conceptualise, define and prioritise new • Make new major discoveries and turn them • Define pro
Slide 12: Market Outlook
Market Outlook ASX: CHN 12
Slide 13: Big critical minerals discoveries are increasingly rare in the western world
Big critical minerals discoveries are becoming increasingly rare in the western world – demand is likely to outpace supply over long term Number of base metal (Ni, Cu, Zn, Pb) discoveries in the World by size – 1900-2021 Post WWII boom and new Rise of China and surge in 60 modern exploration tools e
Slide 14: Why palladium and platinum? Los Angeles 1998
Why palladium and platinum? This was a common sight in the 90’s, prior to the adoption of catalytic converters Los Angeles 1998 ASX: CHN 14
Slide 15: Catalytic converters have driven improvement in air quality
Palladium and platinum based catalytic converters have driven a remarkable improvement in air quality and health globally Los Angeles 2020 ASX: CHN 15
Slide 16: Why palladium? BEV adoption plateau and hybrid EV growth
Why palladium? Battery electric vehicle adoption has reached a plateau and hybrid EV sales are growing rapidly Total passenger vehicle sales (China, US, Europe) • Western car manufacturers are scaling back their Vehicles without Palladium (BEV) Vehicles with Palladium (ICE, HEV) BEV growth ambitions
Slide 17: Palladium price looks poised for recovery – Chalice leading development play
Given strong demand and geopolitical environment, palladium price looks poised for recovery – Chalice is the leading development play Chalice share price (A$/share) vs Palladium spot price (US$/oz, LBMA) 12.00 3,500 Chalice Palladium Norilsk 3,000 10.00 flooding Palladium spot price (US$/oz) 2,500 8
Slide 18: Gonneville Project
Gonneville Project Project update and priorities ASX: CHN
Slide 19: Gonneville PGE-Ni-Cu-Co Project Overview
Gonneville PGE-Ni-Cu-Co Project Overview A new long-life, low-cost, low-carbon, strategic critical minerals project in Western Australia Strategic MOU with Mitsubishi Corporation Top tier development partner, intention to formalise a potential binding partnership post PFS1 Tier 1 scale sulphide Reso
Slide 20: Gonneville has 'Strategic' and 'Major Project' Status
Gonneville has ‘Strategic’ and ‘Major Project’ Status – formal recognition of the importance of the Project by the WA and Federal Governments September 2024: Awarded ‘Strategic Project Status’ by the WA State Government • Awarded by the WA Premier Hon Roger Cook MLA and Department of Jobs, Tourism,
Slide 21: Tier-1 scale Gonneville Resource starts at surface
The tier-1 scale Gonneville Resource starts at surface, is drilled-out to ~450m deep and is open beyond ~1.1km deep Gonneville Resource Plan View Gonneville Resource 3D View looking NNE ~1,200 drill holes for ~320,000m completed since discovery in March 2020 ASX: CHN 21
Slide 22: Gonneville Resource has high-grade optionality and growth potential
The rare Gonneville critical minerals Resource has high-grade optionality and compelling growth potential High Grade Mineral Resource Estimate1: Gonneville NSR Grade-Tonnage table2 • 59Mt @ 2.0g/t 3E (Pd+Pt+Au), 0.20% Ni, 0.21% NSR Cut-off NSR Cut-off in Total Mass Grade in-pit MSO Cu, 0.019% Co A$/
Slide 23: Development strategy: start simple and phase up in scale
The development strategy for the Project is to start as simple as possible and phase up in scale and processing complexity over time The ongoing Pre-Feasibility Study is investigating a two-stage development plan: Stage Life (yrs) Mining method Processing Flowsheet Objectives • Low risk initial deve
Slide 24: Stage 1 process flowsheet targeting simple products
Stage 1 process flowsheet to target simple products with staging options being evaluated in the initial phase of the PFS Sizing Grinding Oxide feed Pd-Au Leach Crushing Grinding Copper Flotation Nickel Flotation Sulphide feed Offtake of doré to western precious metal refinery • Important to characte
Slide 25: Recent testwork highlights upside on recoveries and lower operating costs
Recent testwork has highlighted upside potential on recoveries and opportunities to reduce operating costs Recent leach testwork has highlighted Sizing Grinding potential for material reduction in operating costs relative to 2023 Scoping Study Oxide feed Pd-Au Leach Crushing Grinding Copper Flotatio
Slide 26: Offtake terms expected to be attractive
Offtake terms are expected to be attractive given high-grade of products, low impurities and western source Copper-PGE-Au Ni-PGE-Co Nickel-Cobalt Concentrate Concentrate Intermediate Product • High value concentrate with negligible • High value concentrate with very low • High quality lithium-ion ba
Slide 27: Gonneville expected to be very competitive with 2nd quartile AISC
Gonneville is expected to be a very competitive asset in production, surviving all price cycles with 2nd quartile AISC PGE industry all-in sustaining cost curve (cash costs plus sustaining CapEx), net of by-product credits, US$/oz 4E 2023A1 Quartile 1 Quartile 2 Quartile 3 Quartile 4 2,500 2,000 15M
Slide 28: Regional Exploration
Regional Exploration ASX: CHN
Slide 29: Chalice has defined >40 targets in the West Yilgarn Province
Beyond Gonneville, Chalice has defined >40 Cu-Au-Ag and Ni-Cu-PGE targets in the West Yilgarn Province • ~1,200km long western margin of the Yilgarn craton largely covered by Chalice’s ~10,000km2 exploration licence holding Narryer Project • Exciting new search space for intrusion-related / WESTERN
Slide 30: Exploration focus shifted to gold-copper targeting in 2024
Exploration focus shifted to gold-copper targeting in early 2024, with exciting new targets defined • Exciting new large-scale gold targets at the 4,600km2 arrabarra Project e lector Barrabarra Project nterpreted geology and soil Christmas Gi t Au Cu geochemistry over regional AMAG TP Mugga ing • Re
Slide 31: Recherche West and Warspite targets untested by drilling
The large-scale Recherche West and Warspite targets are completely untested by drilling and in favourable geological settings Initial ~7,000m AC drill program testing both large-scale targets has commenced ASX: CHN 31
Slide 32: Summary and outlook for FY25
Summary and outlook for FY25 ASX: CHN
Slide 33: Fully funded to progress development and exploration
Chalice is fully funded to progress key development and exploration activities, with ~A$98M in cash and listed investments Progress to date Status Forward Plan1 Status Gonneville discovery Gonneville metallurgical testwork and Ongoing Mar-20 flowsheet development / optimisation Maiden Mineral Resour
Slide 34: Summary: Key value drivers and upcoming catalysts
Summary Chalice owns the leading palladium-nickel-copper development project in the Key value drivers and upcoming catalysts western world 1. PGE price recovery driven by slowing BEV uptake and strong ICE/hybrid sales 2. PFS testwork – optimisation of metallurgical Chalice’s team has a trac recoveri
Slide 35: Item 1 - Annual Report
ANNUAL GENERAL MEETING Item 1- Annual Report Visit our website and sign up to receive our latest news chalice-mining @ChaliceMining www.chalicemining.com Level 3, 46 Colin Street West Perth WA 6005, Australia +61 8 9322 3960 info@chalicemining.com ABN 47 1 16 648 956 ASX: CHN
Slide 36: Agenda Items – Item 1 Annual Report and Questions
Agenda Items – Item 1 Annual Report To consider the Annual Report of the Company and its controlled entities for the financial year ended 30 June 2024, which includes the Financial Report, the Directors' Report and the Auditor's Report. Note: there is no requirement for Shareholders to approve the A
Slide 37: Item 2 - Resolutions
ANNUAL GENERAL MEETING Item 2 - Resolutions Visit our website and sign up to receive our latest news chalice-mining @ChaliceMining www.chalicemining.com Level 3, 46 Colin Street West Perth WA 6005, Australia +61 8 9322 3960 info@chalicemining.com ABN 47 1 16 648 956 ASX: CHN
Slide 38: Resolution 1 – Remuneration Report
Resolution 1 – Remuneration Report To consider and, if thought fit, to pass with or without amendment, as a non-binding ordinary resolution the following: 'That, the Remuneration Report be adopted by Shareholders, on the terms and conditions in the Explanatory Memorandum.' Proxy Results: FTOTAL NUMB
Slide 39: Resolution 2 – Re-election of Director – Derek La Ferla
Resolution 2 – Re-election of Director – Derek La Ferla To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: 'That, Derek La Ferla, who retires in accordance with article 7.2(a) of the Constitution and Listing Rule 14.4 and for all other purpos
Slide 40: Resolution 3 – Election of Director – Richard Hacker
Resolution 3 – Election of Director – Richard Hacker To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: That, Richard Hacker, being eligible and offering himself for election, is elected as a Director pursuant to article 7.4 of the Constituti
Slide 41: Resolution 4 – Approval of Issue of Performance Rights to Alex Dorsch
Resolution 4 – Approval of Issue of Performance Rights to Alex Dorsch To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: 'That, pursuant to and in accordance with Listing Rule 10.14 and for all other purposes, Shareholders approve the issue o
Slide 42: Thank you
Thank you Conclusion of meeting chalice-mining @ChaliceMining www.chalicemining.com ASX: CHN
Slide 43: Appendix
Appendix ASX: CHN
Slide 44: Our approach to sustainability
Our approach to sustainability: Deliver sustained shared value through responsible sustainability practices Our Sustainability Vision and Pillars Strong Environmental Manage Climate Create Value for Healthy and Safe Stewardship Change Risk Stakeholders Workforce The Gonneville Project is located on
Slide 45: Higher-grade sulphide component of Gonneville Resource, 23 April 2024
Higher-grade sulphide component of Gonneville Resource (in pit and underground), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal (Mt) Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%) Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt) Measured 0.8 2.3 0.45 0.05 0.37 0
Slide 46: Gonneville Mineral Resource Estimate (JORC Code 2012), 23 April 2024
Gonneville Mineral Resource Estimate (JORC Code 2012), 23 April 2024 Domain Cut-off NSR (A$/t) Classification Mass Grade Contained metal (Mt) Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%) Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt) Measured - - - - - - - - - - - - - Indicated 7.0 1.9 - 0.05