SolGold PLC · AQUISUK:SOLGL
SolGold — Investor Presentation (January 2025)
25 slides from SolGold's investor presentation, Jan 28, 2025
Slide 1: Cascabel: A Tier-One Copper-Gold Development Project
CASCABEL: A TIER-ONE COPPER-GOLD DEVELOPMENT PROJECT 12.4 31.3 26.8 Million Million Million Tonnes Cu oz Au oz Ag Corporate Presentation January 2025 LSE & TSX: SOLG
Slide 2: Cautionary Notice
CAUTIONARY NOTICE Forward-looking statements involve known and unknown risks, uncertainties and other factors which may The Company recognises that the term World Class is subjective and for the purpose of the Company’s cause the actual results, performance or achievements of SolGold and/or its subs
Slide 3: SolGold Corporate Summary
SOLGOLD CORPORATE SUMMARY Listing Info Top Shareholders Estimated Holdings LSE & TSX SOLG BHP 10% Issued and Outstanding Shares ~3Bn Newmont 10% Share Price Info (Dec. 31, 2024) GBP CAD Market Capitalization ~£200MM ~C$390MM DGR Global 7% Share Price 6.92p C$0.13 Jiangxi Copper 6% 52-Week Trading Ra
Slide 4: SolGold Corporate Summary: Projects
SOLGOLD CORPORATE SUMMARY Projects:1 Cascabel: SolGold’s flagship project in Ecuador comprised of 2 deposits: Cascabel • Alpala (PFS Complete) Reserve: 540Mt @ 0.97 CuEq Resource: 3Bt @0.52 CuEq Measured & Indicated • Tandayama-America Resource: 722Mt @ 0.36% CuEq Indicated 247Mt @ 0.35% CuEq Inferr
Slide 5: US$750M Cascabel Gold Stream with Franco Nevada & Osisko Gold Royalties
US$750M CASCABEL GOLD STREAM WITH FRANCO NEVADA & OSISKO GOLD ROYALTIES1 SIGNIFICANT DEVELOPMENT CAPITAL FUNDING ALL COPPER & SILVER REVENUE EXCLUDED Buyback Option: Upon change of control SolGold may repurchase: Fully Financed to Final Investment decision − 50% of stream within the first 3 years
Slide 6: Post-Tax Cash Flow Profile
POST-TAX CASH FLOW PROFILE1 2.0 Cumulative Base Case FCF 28-Year Life of Mine Base + Incremental Cumulative FCF Average Annual FCF: CUMULATIVE FCF (US$ BILLIONS) 1.5 Base Case US$423M NPV8% (US$ BILLIONS) PFS Upside Case US$606M 1.0 LOM FCF: Base Case US$12B 0.5 PFS Upside Case US$18B 0.0 PRODUCTION
Slide 7: Sensitivity Analysis: After-Tax NPV (8%) & IRR
SENSITIVITY ANALYSIS: AFTER-TAX NPV (8%) & IRR1 Gold Price Sensitivity (US$bn) Copper Price Sensitivity (US$bn) Copper + Gold Price Sensitivity (US$bn) After-tax IRR 24% 27% ? 24% 28% ? 24% 31% ? $5.1 $4.4 $3.9 $3.2 $3.2 $3.2 PFS PFS + 30% PFS + 30% + ? PFS PFS + 30% PFS + 30% + ? PFS PFS + 30% PFS
Slide 8: 2024 Phased Approach PFS: Production Profile (CuEq)
AGENDA 2024 PHASED APPROACH PFS: PRODUCTION PROFILE (CU EQ.)1 400,000 2.0% Average grade 1st 10 years: 0.82% Cu, 0.92 g/t Au CuEq: 1.45% 300,000 1.5% CU EQ. PRODUCTION (T) Average grade (Life of Mine): CU EQ. GRADE (%) 0.60% Cu and 0.54 g/t Au CuEq: 0.97% 200,000 1.0% 100,000 0.5% 0 0.0% Y1 Y2 Y3 Y4
Slide 9: Cascabel: World Class Resource & Tier-1 Development Project
CASCABEL: AGENDAWORLD CLASS RESOURCE & TIER-1 DEVELOPMENT PROJECT • Largest undeveloped copper resource in Latin America not controlled by a major1 • 2nd Largest gold resource world-wide not controlled by a major • Reserves: 3.2 Mt Copper, 9.4 Moz Gold, 28 Moz Silver • Resource: 18.2 Mt CuEq M&I: 12
Slide 10: Value Proposition
AGENDA VALUE PROPOSITION MEANINGFUL SolGold is undervalued relative to its copper developer peers on both a P/NAV and an EV/M&I Resource basis1 FS & PFS Stage 1.0 PEA & Resource Stage 0.9 0.8 P / NAV (Consensus | x) 0.7 0.7x 0.6x 0.6 0.5x 0.5 0.4x 0.3x 0.4 0.3 0.2x 0.2x 0.1x 0.2 n/a 0.1 - (Acquired
Slide 11: Alpala: Resources & Reserves
AGENDA ALPALA: RESOURCES & RESERVES Alpala Mineral Resource Statement (Effective Date of November 11, 2023)1 Grade Contained Metal Mineral Cut-off Resource grade Mt CuEq Cu Au Ag CuEq Cu Au Ag category (%) (%) (g/t) (g/t) (Mt) (Mt) (Moz) (Moz) Measured 1,576 0.64 0.43 0.35 1.16 10.0 6.7 17.5 58.6 RE
Slide 12: Tandayama-America: Resources
TANDAYAMA-AMERICA: RESOURCES Tandayma-America Mineral Resource Statement (Effective Date of November 11, 2023)1 Part of Cascabel Cut-off Grade Contained Metal Project: Resource Tonnage Potential Mining Method Grade (CuEq %) Category (Mt) Cu Au CuEq Cu Au CuEq OPPORTUNITY TO (%) (g/t) (%) (Mt) (Moz)
Slide 13: Current Cascabel Project Activities
CURRENT CASCABEL PROJECT ACTIVITIES Geotechnical investigations of process plant location are underway Definition drilling program planning at Tandayama America deposit Set up of camp at tailings facility area for the geotechnical drilling program Updated and additional baseline monitoring f
Slide 14: Cascabel Indicative Permitting Schedule
CASCABEL INDICATIVE PERMITTING SCHEDULE Timing estimates are based on current assumptions and should not be considered as definitive. The Permitting Schedule will be adjusted as further information becomes available, and updates will follow as the permitting process progresses. WORLD-CLASS COPPER-GO
Slide 15: Community-Led Sustainable Approach to Development
COMMUNITY-LED SUSTAINABLE APPROACH TO DEVELOPMENT Long-standing relationships with local communities underpinned by our goal for responsible mining Recently received "DISTINCTIVE GREEN INITIATIVE FOR ACTIVITIES THAT SUPPORT ENVIRONMENTAL MANAGEMENT AWARD” from the Ministry of the Environment, Wate
Slide 16: Regional Exploration and the SolGold Geology Team
Regional Exploration &and the Northern Zone SolGold Geology Team 2 1 1 3 4 5 6 Priority projects Discoveries: 3 Deposits in 12 Years 1) Blanca-Nieves 2) Chical Cascabel: Comprised of 2 deposits: Central Zone 3) Espejo 4) Río Amarillo • Alpala (Reserve, PFS-stage) 5) Playa Rica 6) Río Magdalena • Tan
Slide 17: Next Steps
NEXT STEPS Work with G Mining to progress technical work to de-risk and advance the Cascabel Project: geotechnical investigations, metallurgy, etc., and complete analysis that will feed into the Feasibility Study Ongoing Right of Way and Purchase Option Agreements for Infrastructure Complete Cascabe
Slide 18: A Uniquely Compelling Investment Opportunity
A UNIQUELY COMPELLING INVESTMENT OPPORTUNITY World-Class Resource with Potential for Further Discovery Cascabel is currently one of the world’s largest copper and gold deposits not controlled by a major Foothold on vast, unexplored regions of the Andean copper belt and a proven team with 3 disco
Slide 19: Appendix
APPENDIX /19
Slide 20: 2024 PFS Phased Approach Key Parameters
2024 PFS Phased Approach Key Parameters1 Base Case AGENDA CASCABEL IS A Initial Project Life & Throughput 28 years @ 12 Mtpa—24 Mtpa Total Ore Mined 540 MT (18% of Total Resource) TIER 1 PROJECT Price Deck: Copper ($/lb) / Gold ($/oz) / Silver ($/oz) $3.85 / $1,750 / $22.50 Capital: Pre-Production /
Slide 21: Cascabel Updated Reserves
AGENDA CASCABEL UPDATED RESERVES1 Mining Schedule and Ore Classification 30.0 Proven Tonnes Probable Tonnes 25.0 20.0 Toones Mined 15.0 10.0 5.0 0.0 -4 -3 -2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Mining Schedule by Year • 96% of Ore Mined in first 15 years cla
Slide 22: 2024 Phased Approach PFS: LOM Model Summary
2024 PHASED APPROACH PFS:1 LOM MODEL SUMMARY (TOTAL / AVG.) Mining & Processing Schedule Revenue Capital Expenditures Tonnes ore mined / processed (000's Tonnes) 539,724 Gross Revenue from Concentrate Pre-Production Capex (US$MM) $1,554 Cu Grade (%) 0.60% Cu Revenue ($3.85/lb Cu) (US$MM) $23,159 Pos
Slide 23: Footnotes
FOOTNOTES Slide 1 & 4 Refer to NI 43-101 Technical Report on Pre-Feasibility Study Cascabel dated March 8, 2024, available on the Company’s website and Sedar+, and the Company’s news releases dated 16 February 2024 and 12 March 2024. Mineral Resource Estimate Notes: 1. Dr Arseneau, P. Geo. Associate
Slide 24: Footnotes
FOOTNOTES Slide11 TABLE 1 ALPALA MINERAL RESOURCE ESTIMATE Dr Arseneau, P. Geo. Associate Consultant with SRK Consulting (Canada) is responsible for this Mineral Resource statement and is an "independent Qualified Person" as such term is defined in NI 43-101. Reasonable prospects of eventual economi
Slide 25: Investor Relations
Investor Relations AUSTRALIA (Head Office) +44 20 3807 6996 PO Box 7069, Cloisters Square PO Email: investors@solgold.com.au Perth WA 6850 Australia ECUADOR Avenida Coruña E25-58 y San Ignacio Edif. Altana Plaza, Quito UNITED KINGDOM 1 Cornhill, London, EC2V 3ND LSE & TSX: SOLG