Caravel Minerals Limited · ASX:CVV
Caravel Minerals — Resources Rising Stars Conference 2023
18 slides from Caravel Minerals's conference presentation, May 23, 2023
Slide 1: Resources Rising Stars Conference
For personal use only RESOURCES RISING STARS CONFERENCE ASX | CVV Australia’s next major copper producer Alasdair Cooke, Executive Director, May 2023
Slide 2: Disclaimer and Cautionary Statements
Caravel Minerals Limited (Caravel or the Company) DISCLAIMER AND CAUTIONARY STATEMENTS This presentation should be considered in its entirety. If you do not • 22 March 2023 “Molybdenum Circuit Included in the Definitive Committee (JORC) Australasian Code for Reporting of Exploration Results, underst
Slide 3: Corporate Snapshot
CORPORATE SNAPSHOT Snapshot Ownership ASX ticker CVV Paradice 9.50% Share price (16 May 2023) 24c Management For personal use only 8.3% Shares on issue 480M Glenvar Unlisted options (30-75c strike) 27M 3.5% Alma Metals Market capitalisation (16 May 2023) $115M 3.0% Other holders Cash (31 March 2023)
Slide 4: Caravel Overview
CARAVEL OVERVIEW Key commodity in global decarbonisation initiatives Copper Growing supply gap expected from the middle of the decade, in-line with first production from Caravel For personal use only Mine life of 25+ years Globally significant, Largest undeveloped copper project in Australia
Slide 5: The Yilgarn is Emerging as a Significant Mineral Province
THE YILGARN IS EMERGING AS A SIGNIFICANT MINERAL PROVINCE A relatively unexplored area hosting several of Australia’s largest and important mineral discoveries: For personal use only • Boddington – Australia’s largest gold mine (+20Moz Au)1 • Greenbushes – World’s largest hard rock lithium mine (8Mt
Slide 6: Resource Continues to Grow
RESOURCE CONTINUES TO GROW Large, near-surface, porphyry style orebodies For personal use only • ~80% of the 25+ year mine life is in Ore Reserve • Well-defined geological model with high conversion of Resource to Reserves ~88% • Potential to mine Dasher earlier pending further drilling • Other mine
Slide 7: Targets for Resource Growth Potential
Bindi pit outline and drillholes TARGETS FOR RESOURCE GROWTH POTENTIAL Bindi Resource remains open to the east B For personal use only • Bindi ‘Lower Limb’ developing as significant resource upside A • Wide zones of mineralisation above cut-off grades east of planned Bindi pit A B caravelminerals.co
Slide 8: Independent Process Flowsheet Review Confirms No Technical Gaps
INDEPENDENT PROCESS FLOWSHEET REVIEW CONFIRMS NO TECHNICAL GAPS Independent review completed by Lycopodium Minerals Pty Ltd Focussed on process simplification and industrially proven designs For personal use only • Process plant capacity increase from ~27Mtpa to ~30Mtpa • Molybdenum circuit added •
Slide 9: Modern Mining Tech Drives Safety and Efficiency
MODERN MINING TECH DRIVES SAFETY AND EFFICIENCY WA is a global leader in mine technology development and operation • Adopting proven autonomous haulage system (AHS) technology - reduces labour costs, reduces operating For personal use only costs and increases productivity • Implementing trolley assi
Slide 10: Modern Mining Tech Drives Safety and Efficiency
MODERN MINING TECH DRIVES SAFETY AND EFFICIENCY WA is a global leader in mine technology development and operation For personal use only • Adopting high pressure grinding rolls (HPGR) – substantial reduction in power costs (~27%), consumables (no grinding media) and greater operating flexibility • W
Slide 11: Preparing for Development Through Key Partnerships
PREPARING FOR DEVELOPMENT THROUGH KEY PARTNERSHIPS Lycopodium appointed as lead engineer Bespoke mineral processing plant design experience For personal use only Recent experience in FQMLs Cobre Panama project Local Perth team Civmec uniquely positioned to assist Caravel Located 40 minutes s
Slide 12: Value Upside
VALUE UPSIDE Resource Extension Drilling • Dasher – potential for higher Cu grades to be accessed earlier in mine plan For personal use only • Bindi – significant unclassified mineralisation may be converted into JORC Inferred Resource • Bindi Lower Limb – potential for significant extension of reso
Slide 13: Production Set to Coincide with a Widening Supply Gap
PRODUCTION SET TO COINCIDE WITH A WIDENING SUPPLY GAP There are significant risks to new supply… Copper forecasts support future development… • Lower price forecasts assume new production comes on-stream as scheduled • Fiscal and social difficulty in Central and South America • Goldman Sachs assumes
Slide 14: Project Funding and Schedule to First Production (Mid-2026)
PROJECT FUNDING AND SCHEDULE TO FIRST PRODUCTION (MID-2026) Staged approach to project funding 1. Vendor financing For personal use only • Mining fleet and OEM vendor financing • Reduces project financing requirement and, where performance based, reduces and transfers operating risks 2. Joint Ventur
Slide 15: Latest Financial Results
LATEST FINANCIAL RESULTS1 Independent process review identified opportunities to increase throughput and For personal use only reduce costs, adding substantial value 1 - ASX Announcement dated 13 April 2023 – PFS Process Review Update caravelminerals.com.au 15.
Slide 16: Investment Summary
INVESTMENT SUMMARY Near-term Australian copper producer, delivering ~65ktpa Cu and ~900t Mo metal per annum • 25+ year project life For personal use only • 1.4Mt Cu Reserves, 2.8Mt Cu Resources • Simple open-cut bulk mining and conventional processing • Low C1 (US$1.23) and AISC (US$2.07) costs • Lo
Slide 17: For personal use only
For personal use only caravelminerals.com.au 17.
Slide 18: Appendix - Ore Reserves and Resources
APPENDIX - ORE RESERVES AND RESOURCES For personal use only See ASX Announcement 23 November 2021 “Major Mineral Resource Upgrade – Caravel Copper Project”, See ASX Announcement 12 July 2022 “Pre-feasibility Study – Caravel Copper Project” caravelminerals.com.au 18.
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