Saturn Metals Ltd. · ASX:STN
Saturn Metals — Shareholder Meeting (November 2024)
20 slides from Saturn Metals's shareholder meeting presentation, Nov 26, 2024
Slide 1: Apollo Hill: Heap Leach Gold – Annual General Meeting
Apollo Hill: Heap Leach Gold Annual General Meeting 26 November 2024, 10 am AWST For personal use only Ian Bamborough Managing Director ASX:STN www.saturnmetals.com.au
Slide 2: Apollo Hill 'Greater' Gold Project – Overview, Location and Tenure
Apollo Hill ‘Greater’ Gold Project Overview, Location and Tenure • Central strategic position in the Belt • 60km south-east of Leonora in Western Australia in world class For personal use only multi-million ounce gold province close to existing gold infrastructure • Centred around the namesake 1.84M
Slide 3: Corporate Snapshot
Corporate Snapshot Strong Register – Compelling Value – Well Funded Corporate Metrics & Share Structure Assets Cash as at 30 September 2024 $14M EV/Resource oz $29 For personal use only 1 Ordinary Shares on Issue 308M Mineral Resources – Apollo Hill Gold Deposit 1.84Moz 2 Unquoted Options & Performa
Slide 4: Apollo Hill – Resource (1.84Moz Au) June 2023
Apollo Hill – Resource (1.84Moz Au1) June 2023 Big, Single, Simple, Low Strip, Large Selective Mining Unit, Low Unit Cost, Open Pit Shell 6772000N 372000E Apollo Hill May 2022 6774000N Mineral Resource 1,469,000oz (76Mt @ 0.60g/t Au at 0.23g/t Au cut-off) For personal use only 3D Oblique view Lookin
Slide 5: Apollo Hill 2023 Mineral Resource & PEA Whittle Shell
Apollo Hill 2023 Mineral Resource & PEA Whittle Shell Scalability SW NE Only 1.5:1 strip ratio LOM, more 0.35km ounces in shell TOPO BOCO For personal use only Initial strip ratio over the first two TOFR years is 1.2:1 Thick ore zones +100m Bulk tonnage Bigger selective mining units, econo
Slide 6: Simple Metallurgy – Apollo's Biggest Cost Differentiator
Simple Metallurgy – Apollo’s Biggest Cost Differentiator Excellent Gold Extraction Characteristics for Easily Recoverable Gold HEAP LEACHING: For personal use only Gold Grains Efficient & Excellent Low-Cost Recovery RouteA +78% gold recovery in columns at completion at 8mm Crush +88% gold recove
Slide 7: Leach Kinetics and Recovery Performance
Leach Kinetics and Recovery Performance Strong and Timely Curves with a Predictable Finish for Efficient Management of Heap LeachingA For personal use only A Refer Slide 18 ASX:STN | www.saturnmetals.com.au 7
Slide 8: Preliminary Economic Assessment – Production Target 1.63Moz
Preliminary Economic Assessment Production Target – 1.63Moz Initial Target: 10Mtpa for 10 years For personal use only from current 1.84Moz Au Mineral Resource Life of mine production totals 93.9 Mt at 0.54 g/t Au for 1,636,000oz of contained gold Average waste to ore ratio of 1.5 to 1 Simple F
Slide 9: Preliminary Economic Assessment – Heap Leach Circuit
Preliminary Economic Assessment Heap Leach Circuit Solution and Mining Offices and Workshops Storm Water Ponds Initial processing rate Waste Dump of 10Mtpa for 10 years2 For personal use only Columns and Elution Plant Simple scheduling Conventional process Agglomerator Power Plant HPGR Strong
Slide 10: Preliminary Economic Assessment – Low Cost Per Tonne & Ounce
Preliminary Economic Assessment Low Cost Per Tonne & Ounce – Bulk Mining & Processing Delivers Economies of Scale • C1 Cost A$1,730/oz (US$1,160/oz) • ASIC A$1,857/oz (US$1,244/oz) For personal use only • Mining A$4.50/t (US$3/t) (10m bench – large efficient SMU’s) • Processing A$9.42/t (US$6.31/t)
Slide 11: Preliminary Economic Assessment – Robust Financials
Preliminary Economic Assessment Robust Financials at A$2,665/oz (US$1,785) Gold base case, a Healthy Margin At more recent gold prices (~A$3,700/oz), the Project demonstrates outstanding financial outcomes including: Gold Price A$/oz 2,665 For personal use only Project EBITDA • a free cash flow of m
Slide 12: Resource Comparison
Resource Comparison Peer Group Current Resources firmly Kisladag, TUR Tujuh Bukit, IDN Eldorado Gold For personal use only Merdeka place Apollo Hill in bulk Reserves* Apollo Hill, AUS tonnage economic space: Saturn Metals Grade Florida Canyon, USA Soledad Mountain, USA Florida Canyon Gold Andean P
Slide 13: Bulk Sample Pits and Pilot Plant Concept
Bulk Sample Pits and Pilot Plant Concept Design: 1.2Mt Mined for 24koz Recovered • Implementation of concept subject to regulatory approvals, funding and final investment decision For personal use only ASX:STN | www.saturnmetals.com.au 13 3D Rendering of Saturn’s Pilot Plant Engineering Drawings
Slide 14: Resource Drill Out – 50,000m Drill Phase
Resource Drill Out 50,000m Drill Phase • Assays pending for 47 holes and 7,100m • 31,000m planned and in progress For personal use only ASX:STN | www.saturnmetals.com.au 14
Slide 15: Excellent Results – Apollo Hill Extensional Focused Drilling
Excellent Results – Apollo Hill Extensional Focused Drilling Thick and higher-grade intersections from reverse circulation drilling includeA: For personal use only • 11m @ 2.39g/t Au from 158m within 26m @ 1.27g/t Au from 155m – AHRC1009 • 45m @ 1.04g/t Au from 190m within 89m @ 0.74g/t Au from 146m
Slide 16: Regional Potential – Greenfield Target Areas
Regional Potential Greenfield Target Areas • ~1,000km2 land package • 16 Prospects discovered to date For personal use only • Large continuous gold system • Large tracts of ground still untested • 10,000m of AC Planned 5km 10km 20km **See Saturn Metals Prospectus for details on Royalty +1Moz Product
Slide 17: Development Plan – Timeline To Full-Scale Production
Development Plan Timeline To Full-Scale Production 2024 2025 2026 2027 2028 Pre-Feasibility Study For personal use only Definitive Feasibility Study Full Scale Operations Financing & Procurement *subject to permitting, approvals, funding & Regulatory Approvals investment decision Construction & Comm
Slide 18: Important Information Disclaimer & Competent Person Statements
Important Information Disclaimer & Competent Person Statements GENERAL The Company has prepared this presentation. Whilst the information contained in this presentation has been prepared with all reasonable care from information provided by the Company and from sources, which the Company believes ar
Slide 19: Appendix A – Mineral Resource – Apollo Hill Gold Deposit
Appendix A Mineral Resource – Apollo Hill Gold Deposit Measured Indicated Inferred Mineral Resource Total Lower Cut-off Oxidation state For personal use only Grade Au g/t Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) (M
Slide 20: Appendix B – Resource Comparison – Peer Group Data
Appendix B Resource Comparison – Peer Group Data Mineral Resource Measured Indicated Inferred Total Source Company Desposit Stage Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces For personal use only 1 Kinross Gold Corporation Bald Mountain Production 7,743,000 0.70 1