Firefly Metals Ltd · ASX:FFM
Firefly Metals — Resources Rising Stars (April 2024)
37 slides from Firefly Metals's conference presentation, Apr 4, 2024
Slide 1: High-Grade Copper and Gold
ASX FFM For personal use only April 4, 2024 High-Grade Copper and Gold Significant and immediate growth • Company led by former Bellevue Gold and Northern Star executives with a proven track record • Targeting rapid resource growth • Building world-class scale • Exceptional infrastructure including
Slide 2: Disclaimer & Cautionary Statements
DISCLAIMER & CAUTIONARY STATEMENTS For personal use only This presentation has been prepared by FireFly Metals Limited (the Company) based on information from its own and third party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgeme
Slide 3: Forward Looking Information
FORWARD LOOKING INFORMATION This document contains forward looking statements concerning the Company. Forward-looking statements are not statements of historical fact, and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety
Slide 4: Investment Highlights
Investment Highlights Rapid low-cost growth through the drill bit - a proven strategy for value creation For personal use only GREEN BAY COPPER GOLD PICKLE CROW GOLD PROVEN TRACK RECORD • High grade copper and gold in • Management team with a Newfoundland & Labrador, • High grade gold in Ontario, pr
Slide 5: Copper – The Macro Landscape
Copper – The Macro Landscape Nearly twice the amount of copper mined in human history is required in the For personal use only next 27 years to achieve net zero by 20501,2 Global Copper Mining Issues ● Decreasing copper grades ● Reduced discovery rates ● Time and cost to production ● 700mt of Cu hav
Slide 6: A Lack of Quality Copper Opportunities on the ASX
For personal use only COPPER PRODUCTION - TONNES CY 2022 (ACTUAL) - ASX ASX FFM 50,000 100,000 0 Mount Carlton (Navarre) Savannah (Panoramic) Peak (Aurelia) Ming Mine Please see Appendix 4 for original source data. Antas (BHP) Nova-Bollinger (IGO) Eloise (AIC Mines) Telfer (Newcrest) 1. Data Source:
Slide 7: The Transformation of FireFly
The Transformation of FireFly Results: Cu Au Re-assays First FFM Results: VMS First FFM Results: FWZ For personal use only Capital Raising to • 47.2m @ 4.7% Cu & 2.2g/t Au • 46.4m @ 5.6% CuEq • 47.1m @ 2.4% CuEq Acquisition Fund Transaction Completion of • 41.2m @ 5.9% Cu & 3.5g/t Au • 17.8m @ 6.6%
Slide 8: Exceptional Share Register and Strong Balance Sheet
Exceptional Share Register and Strong Balance Sheet Well-Funded to Deliver Strong Velocity of Newsflow through 2024 - 2025 For personal use only CAPITAL STRUCTURE CURRENT A$0.72 A$343M Shares on issue 477.5M1 Management performance rights 37.5M2 Current Share Market Price3 Capitalisation4 Top 20 Sha
Slide 9: Board and Management
Board and Management A Leadership team with proven success in the Resources Sector For personal use only Maddison Cramer JOINT COMPANY SECRETARY Kevin Tomlinson Steve Parsons Michael Naylor Jessie Liu-Ernsting Darren Cooke Cygnus Metals, Midas Minerals, formerly of Independent Independent Bellevue G
Slide 10: Green Bay Highlights
Green Bay Highlights A low-cost acquisition that transformed Firefly into a leading ASX Cu-Au Developer For personal use only Resource Growth High Grade ● Current ● Upside ● Operational Upscale Resources ● 40Mt @ 2.1% CuEq1 ● Regional Discovery ● Rapid growth ● Ready to go ● Processing Plant Mines ●
Slide 11: One of the Best Mining Jurisdictions Globally
One of the Best Mining Jurisdictions Globally Newfoundland & Labrador is a top four jurisdiction for mining investment For personal use only FRASER INSTITUTE 2022 SURVEY PROVINCE OF Mining Investment Attractiveness Index1 NEWFOUNDLAND & LABRADOR Strong government support Nevada Western Australia Tra
Slide 12: A Major VMS Copper-Gold Mineralised System
A Major VMS Copper-Gold Mineralised System Two distinct mineralised zones – Both zones open High-Grade Massive Sulphide Zone DEPTH For personal use only Surface UNMINED and OPEN: (6mx3m) Shaft 630m MING MINE RESOURCE 0m Portal • 74.8m @ 9.0% Cu & 2.2g/t Au (R19-745-08) UNMINED & OPEN Starts from 250
Slide 13: A Major VMS Copper-Gold Mineralised System
A Major VMS Copper-Gold Mineralised System 30Mt resource with underground development & shaft & plenty of room to grow! DEPTH For personal use only (6mx3m) Shaft 630m Surface MING MINE RESOURCE Rapid Resource Growth 0m Portal UNMINED & OPEN Starts from 250m below surface • +500m of exploration drive
Slide 14: Infrastructure = Lower Capex and Rapid Start-up
Infrastructure = Lower Capex and Rapid Start-up DEPTH Excellent Geotechnical For personal use only Surface Conditions 0m Portal 6m x 3m shaft to Upper FW Stope (unfired) 630m below surface (~750m below surface) in place Excellent Geotechnical 30Mt Resource starts Conditions just 250m below Existing
Slide 15: Exceptional Regional Discovery Potential
Exceptional Regional Discovery Potential Recent acquisitions makes FireFly the major landholder in a world-class Copper VMS district For personal use only Cu Significant Camp-Scale Land Holding Ming Mine 30.1Mt @ 2.1% CuEq Cu Cu Cu • Three historic past producing copper mines and Cu numerous compell
Slide 16: Rapid Resource and Mine Growth Over Next Months
Rapid Resource and Mine Growth Over Next 18 Months Well-funded for significant velocity of news flow through 2024 - 2025 For personal use only Milestone1 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 23 24 24 24 24 25 25 25 25 2024 – 2025 Key Deliverables 2024 – 2025 PROGRAM Green Bay Project Acquisition 15 • Undergro
Slide 17: A Game Changing Catalyst Rich High-Grade Opportunity
A Game Changing Catalyst Rich High-Grade Opportunity Board & Management Team with a Proven Track Record of Creating Shareholder Wealth For personal use only Strong Cash Position of A$55 Million1 for Immediate Growth Throughout 2024-2025 GREEN BAY COPPER-GOLD • A fully operational underground mine in
Slide 18: Green Bay Supplementary Information
Appendix 1 Green Bay Supplementary Information For personal use only Ming Mine A ready-to-go underground copper mine with world-class growth potential • 1A. NL Overview & Landholding • Newfoundland Mines & Infrastructure • FFM District land holding & Exploration • 1B. Mine Orebody • 1C. Ming UG Mine
Slide 19: 1A: Newfoundland - Built on Maritime & Mining
Appendix 1A: Newfoundland - Built on Maritime & Mining A True Tier 1 Mining Jurisdiction For personal use only Ming UG Mine & Little Deer • Strong government support Hydro Power Stations Cu-Au Mine Complex throughout Newfoundland • Track record of expedited mine Excess Capacity permitting • Mining s
Slide 20: 1A: FireFly District Land Holding
Appendix 1A: FireFly District Land Holding Significant district-scale footprint in a world-class VMS district For personal use only Regional Exploration • Recently completed transaction with Gold Hunter Resources increases Green Bay footprint by 169sqkm • Multiple drill ready ‘walk-up’ targets surro
Slide 21: 1B: Ming Orebody Drill Results – Distinct Zones
Appendix 1B: Ming Orebody Drill Results – 2 Distinct Zones A large-scale VMS mineralised system with two distinct mineralised zones For personal use only Zone 1: High-grade massive sulphide copper and gold zone – Unmined and OPEN 1,2 46.4m @ 5.6% CuEq (4.6% Cu & 1.2g/t Au) FireFly drilling 16/1/24 M
Slide 22: 1B: Ming Orebody: Cross Section
Appendix 1B: Ming Orebody: Cross Section Consistent and Continuous Large Scale Ore Bodies Large-Scale VMS Orebodies: Footwall Zone similar For personal use only widths to Rome Colosseum and Michigan State Stadium Cross Section 500m level Unmined VMS Historical mined VMS Unmined VMS High-Grade Massiv
Slide 23: 1B: Ming Orebody: Cross Section
Appendix 1B: Ming Orebody: Cross Section Consistent and Continuous Large Scale Ore Bodies For personal use only Cross Section 900m level • Upper high-grade massive sulphide zones unmined & open 74.8m @ 10.9% CuEq (R19-745-08) • Broad Footwall zone unmined & open High-Grade Massive Sulphide Upper Zon
Slide 24: 1C: Ming Underground Mine is Ready and Fully Operational
Appendix 1C: Ming Underground Mine is Ready and Fully Operational • Underground drilling already +10,750m completed Massive Sulphide For personal use only Excellent Underground Conditions • Second drill rig on site (double meters and news High-Grade Copper-Gold (~15 metre wide development at 750 lev
Slide 25: 1D: Surface Infrastructure – Green Bay
Appendix 1D: Surface Infrastructure – Green Bay, all set up ready to go For personal use only Hydro Power Underground Portal Propane Mine High-Grade Stockpiles Heating Workshop Drillers Shed Workshop/ Water Treatment Plant Core Shed Underground Training Changerooms Room Storage Admin/Offices 50 pers
Slide 26: 1E: Port Access secured for future concentrate shipments
Appendix 1E: Port Access secured for future concentrate shipments Access to two ports provides future optionality Pine Cove Deep Water Port For personal use only Pine Cove Deep Water • Recent access agreement with Port Maritime Resources Corp in return for FFM taking a ~8.4% position in Maritime (C$
Slide 27: 1F: Mining Depths in Canada – Ming is STILL SHALLOW
Appendix 1F: Mining Depths in Canada – Ming is STILL SHALLOW The Mine is relatively shallow in comparison to other underground operations in Canada For personal use only ● ● Low regional stress conditions allow for much deeper mining than in Western Australia ● Less than half the regional rock stres
Slide 28: Pickle Crow Gold Deposit
Appendix 2 Pickle Crow Gold Deposit For personal use only Pickle Crow One of the highest- grade undeveloped gold projects in globally • 2A. Overview • 2B. Location • 2C. Shallow Potential • 2D. Regional Exploration Upside
Slide 29: 2A: Pickle Crow Gold Deposit – The Perfect Addition
Appendix 2A: Pickle Crow Gold Deposit – The Perfect Addition High Grade 2.8Moz @ 7.2 g/t Gold Resource with Significant Potential to Grow For personal use only LOCATION THE ASSET – PICKLE CROW UPSIDE • Operating in a Tier 1 mining • High-grade historical gold • 2.8Moz @ 7.2g/t inferred gold jurisdic
Slide 30: 2B: An Exceptional Asset in a World-Class Location
Appendix 2B: An Exceptional Asset in a World-Class Location Pickle Crow Gold Deposit is surrounded by World-Class Gold Mines For personal use only PICKLE CROW 2.8Moz @ 7.2G/T Gold Resource ASX FFM 30
Slide 31: 2C: Significant Shallow Open Pit Potential
Appendix 2C: Significant Shallow Open Pit Potential For personal use only Significant Potential to Grow the 2.8Moz @ 7.2g/t Resource • Potential for Open Pit as well as Underground mining at the Pickle Crow Deposit • Significant proportion of resource shallow from surface • Over 1Moz above 0.5g/t in
Slide 32: 2D: Huge Discovery Potential – An Entire Mineral District
Appendix 2D: Huge Discovery Potential – An Entire Mineral District Exceptional Upside For personal use only • First time entire Pickle Crow district held by one company • Over 46km of strike to be tested • Regional systematic geochemical sampling underway • Low-cost discovery potential • Numerous hi
Slide 33: FireFly Metals Resources
Appendix3 FireFly Metals Resources For personal use only
Slide 34: FireFly Metals Resources
Appendix 3: FireFly Metals Resources For personal use only Mineral Resources – Green Bay Copper – Gold Project1 Measured Indicated Inferred TOTAL RESOURCE MING MINE Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Copper 1.71% 144kt 1.85% 284Kt 1.86% 120kt 1.81% 547kt Gold
Slide 35: 2022 Copper Production Data
Appendix 4 2022 Copper Production Data For personal use only
Slide 36: S&P Global – 2022 Asset Copper Production Source Data
S&P GLOBAL – 2022 Asset Copper Production Source Data For personal use only 2022 Cu PROPERTY CURRENT OWNER PRODUCTION SOURCE DATA (Tonnes) Mount Carlton Navarre Minerals Ltd. 1,838 https://minedocs.com/23/Navarre-PR-06302022.pdf Peak Aurelia Metals Ltd. NA https://www.listcorp.com/asx/ami/aurelia-me
Slide 37: S&P Global – 2022 Asset Copper Production Source Data (Continued)
S&P GLOBAL – 2022 Asset Copper Production Source Data (Continued) For personal use only 2022 Cu PROPERTY CURRENT OWNER PRODUCTION SOURCE DATA (Tonnes) Copper Mountain Hudbay Minerals Inc. 23,996 https://www.prnewswire.com/news-releases/copper-mountain-mining-announces-fourth-quarter-and-full-year-20