Pantoro Gold Limited · ASX:PNR
Pantoro Gold — Investor Presentation (November 2024)
28 slides from Pantoro Gold's investor presentation, Nov 11, 2024
Slide 1: Norseman: Primed for Growth
For personal use only NORSEMAN ASX: PNR PRIMED FOR GROWTH November 2024
Slide 2: Important Notices
IMPORTANT NOTICES For personal use only Nature of Document. This presentation has been prepared and issued by Pantoro Limited (Pantoro or Forward Looking Statements and future performance This presentation contains forward looking statements Company) to provide general information about Pantoro. abo
Slide 3: Important Notices Continued
IMPORTANT NOTICES CONTINUED For personal use only Past performance. Past performance metrics and figures (including past share price performance of For the purposes of ASX Listing Rule 5.19, Pantoro confirms that all material assumptions underpinning the Pantoro), as well as pro forma financial info
Slide 4: Norseman Primed for Growth
NORSEMAN PRIMED FOR GROWTH For personal use only LARGE, HIGH-GRADE MINERAL RESOURCE 44.9 Mt @ 3.3 g/t for 4.7 million ounces gold. GROWING GOLD PRODUCTION POSITION New, fully operational gold mining operation which includes: 1. New 1 million tonne per annum processing plant operating above nameplate
Slide 5: September 2024 Quarter
SEPTEMBER 2024 QUARTER For personal use only Ounces Product by Quarter EBITDA of $32.5 million (6 month: $58.3 million). 25,000 21,374 Cash and gold increase of $8.5 million (6 month: $15.2 20,805 million). 20,000 19,235 18,185 Growth capital of $14.3 million invested (inc. Scotia underground). 15,0
Slide 6: Strong, Experienced Team
STRONG, EXPERIENCED TEAM For personal use only BOARD Wayne Zekulich § Financial management, banking and accounting background Paul Cmrlec § Mining Engineering background with >25 years experience Chair § Extensive public company experience at CFO and director Managing Director § Extensive experience
Slide 7: Corporate Structure
CORPORATE STRUCTURE For personal use only Share Price1 A$0.11 140 $0.12 Ordinary Shares 6,454 million 120 $0.10 Options and rights 166.4 million 100 $0.08 Cash and gold2 A$112.3 million 80 $0.06 Market Capitalisation1 A$710 million 60 Debt3 US$12.5 (A$18.8) million $0.04 40 Zero premium collars $0.0
Slide 8: ESG Progress and Commitment
ESG PROGRESS AND COMMITMENT For personal use only TRANSPARENCY AND REAL-TIME TRACKING ● Collaborating with ESG+F to develop a live ESG platform, providing stakeholders with real- time insights into environmental metrics and governance practices ● Tracking over 1,300 key indicators, enhancing data ov
Slide 9: Norseman Gold Project: Current Operations
For personal use only NORSEMAN GOLD PROJECT CURRENT OPERATIONS 9
Slide 10: Norseman Gold Project Overview
NORSEMAN GOLD PROJECT OVERVIEW For personal use only MULTIPLE MINING CENTRES PROVIDE LONG MINING PIPELINE 800km2 position with 70 km along strike of one of Australia’s most significant goldfields. Less than 30% of known Mineral Resource areas drilled for Ore Reserve conversion to date. CURRENT OPERA
Slide 11: Rate, Recovery and Reliability
RATE, RECOVERY AND RELIABILITY For personal use only Comfortably running at 1.2MTPA with further increases up to 1.4MTPA easily achieved WITHOUT any major upgrade costs. Crushing circuit capable of 1.7MTPA – no upgrades necessary if plant throughput is increased. Excellent recovery: 94.3% for the qu
Slide 12: Scotia Underground Underway
SCOTIA UNDERGROUND UNDERWAY For personal use only UNDERGROUND 1,076 metres developed during the quarter (1,280 metres since commencement). Contract mining by Tier 1 contractor Redpath. First ore has been accessed. Rapid access to ore levels, increasing mill grade through FY2025. Stoping operations t
Slide 13: Scotia Underground Mine Plan
SCOTIA UNDERGROUND MINE PLAN For personal use only KEY MILESTONES ∙ Underground development and production contract Award – March 2024 ∙ Portal Excavation – May 2024 (Completed) ∙ Ore Development – Q1 FY25 (Completed) ∙ Production stoping – Q2 FY25 ∙ Steady State – Q3 FY25 KEY METRICS ∙ Steady state
Slide 14: OK Underground Mine
OK UNDERGROUND MINE For personal use only OK UNDERGROUND MINE Production underway and development ongoing from Star of Erin and O2 Lodes. 150m vertical of capital development in Star of Erin. Very high grades encountered in 02 lode. Year on year Ore Reserve increases after depletion. All lodes open
Slide 15: Norseman Gold Project: Primed for Growth
For personal use only NORSEMAN GOLD PROJECT PRIMED FOR GROWTH
Slide 16: Mineral Resource and Ore Reserve
MINERAL RESOURCE AND ORE RESERVE For personal use only 16
Slide 17: Large, High Grade Underground Mines
LARGE, HIGH GRADE UNDERGROUND MINES For personal use only CURRENT RESOURCE IN OPERATING UNDERGROUND MINES Scotia – 300 koz @ 5.2g/t OK – 200 koz @ 13.5g/t HISTORICAL PRODUCTION FROM MAJOR MINING AREAS Mainfield – 7.3Mt @ 10.8g/t for 2.53 MOz North Royal – 3.3Mt @ 16.7g/t for 1.78 Moz Processing Faci
Slide 18: Norseman Growth Pathway
NORSEMAN GROWTH PATHWAY For personal use only 1,400,000 Replacing open pit feed with higher grade underground ore. 1,200,000 Growth drilling underway on 1,000,000 surface at Mainfield and Target Tonnes Processed underground at Scotia. 800,000 Mainfield (Bullen) underground 600,000 decline rehabilita
Slide 19: Scotia – Open in All Directions
SCOTIA – OPEN IN ALL DIRECTIONS For personal use only Scotia Growth Targets ∙ Underground drilling to commence in September 2024. ∙ Initially targeting depth extensions in the Southern Zone and the undeveloped Eastern Lode. ∙ Underground drilling operations to continue throughout the coming year. 19
Slide 20: Scotia - Additional Lodes Identified
SCOTIA - ADDITIONAL LODES IDENTIFIED For personal use only Free Gift Scotia SIF Extensions Discovery Scotia Extensions Panda Lode Inferred Eastern Lode 4.5km LERC21_235 3m @ 11.58 g/t Green Lantern + Extensions LERC21_157 1m @ 9.84 g/t MAJOR DRILL-OUT AT SCOTIA YIELDED RESULTS IN PHASE 1. • Scotia M
Slide 21: Mainfield – The Big Prize
MAINFIELD – THE BIG PRIZE use only Mainfield is the most prolific mining area at Norseman to date. Crown/ Mararoa St Pats ► First pass drilling completed with focus areas identified. ► Drill areas focussed on zones easily accessed from existing infrastructure For personal ► Large areas unmined previ
Slide 22: Mainfield Immediate Drill Targets
MAINFIELD For personal use only IMMEDIATE DRILL TARGETS ► Unmined areas of Crown Reef and Crown South. ~5 C8 00 rod 91 Bu z @ d Crown Cross links similar to K o uc 0 P ► lle 1 0 Bullen, which produced n Crown South approximately 500KOz, e g/ only discovered in 1980s t St Patrick's after 50 years of
Slide 23: Underground Access for Drilling
UNDERGROUND ACCESS FOR DRILLING For personal use only BULLEN DECLINE ► Decline is in excellent condition. Requires new ground support. ► Provides easy access to all areas previously mined in the Mainfield. ► Accessible to 14 Level (flooded below). Provides immediate access to take-off points from Cr
Slide 24: Re-accessing Bullen Decline
For personal use only Drill access Drill access from Q3 from Q1 FY2025 2025 Drill access BULLEN Bul roa from August len Maro FY2025 Drill access from Q2 O’Brien Early mining opportunity. 130,000t @ 9.5 g/t for Crown 40,000 Oz Crown South RE-ACCESSING BULLEN DECLINE 24
Slide 25: Crown Reef
For personal use only CROWN REEF 25
Slide 26: Southern Mainfield: Butterfly Area
SOUTHERN MAINFIELD For personal use only BUTTERFLY AREA ► Accessible via existing Viking Decline. ► Existing Mineral Resources at Mararoa and Royal Standard Reefs. ► New discovery of NW striking mineralisation with results including: 6 m @ 31.0 g/t Au. 1m @ 58.6 g/t Au. 2 m @ 20.66g/t Au. 2m @ 12.43
Slide 27: Butterfly Drill Programme
BUTTERFLY DRILL PROGRAMME For personal use only Butterfly 2022 Significant Drill Intersections Butterfly NW Royal Standard Butterfly Pillar BFNWRC24_014: 2m @ 20.6g/t from 125m RSRC22_001: 1m 22.7g/t Au from 109m BFRC22_086: 2m @ 6.03g/t Au from 184m BFNWRC24_013: 6m @ 31.0g/t Au from 54m RSRC22_002
Slide 28: Massive Greenfield Potential
MASSIVE GREENFIELD POTENTIAL A HIGH SCALE, TOP WORLD-CLASS SIGNIFICANT For personal use only HIGHLY TIER ASSET GREENSTONE BELT PROSPECTIVE AREA EXPLORATION UPSIDE Norseman produced ~6Moz The area between Norseman and Pantoro’s Norseman tenure is a significant Pantoro’s tenure is situated in the hist