Orion Minerals Limited · ASX:ORN
Orion Minerals — Resources Rising Stars & Africa Down Under Conferences 2024
30 slides from Orion Minerals's conference presentation, Sep 3, 2024
Slide 1: Building Tomorrow's Mines Today
29 30 28 27 79 47 Cu Zn Ni Co PGE Au Ag Copper Zinc Nickel Cobalt PGE Gold Silver BUILDING TOMORROW’S MINES TODAY Errol Smart - Managing Director and CEO September 2024 ASX: ORN | JSE: ORN Page
Slide 2: Disclaimer
DISCLAIMER This presentation contains summary information about • may include, among other things, statements • disclaim any obligations or undertaking to release Orion Minerals Ltd and its subsidiaries (Orion or Company) regarding targets, estimates and assumptions in any updates or revisions to th
Slide 3: Competent Person Statement
Competent Person Statement The information in this presentation that relates to Orion’s Exploration Results is a compilation of previously released reports to ASX by Orion Minerals on 25 July 2023, 17 August 2020, 6 August 2020, 6 May 2020, 9 March 2020, 3 September 2019, 8 July 2019 and compiled by
Slide 4: Our Mission: Producing Future Facing Metal Products
OUR MISSION FULLY INTEGRATED FROM EXPLORATION TO MARKET PRODUCING FUTURE FACING METAL PRODUCTS ESG CERTIFIED METALS, TRACKED AND VERIFIED FROM EXPLORATION TO SALE Page 4
Slide 5: Company Snapshot
COMPANY SNAPSHOT Capital Structure Summary Current Board of Directors Senior Management Shares on issue (26 Aug’24) 1 6,834M Denis Waddell, Chairman Peet van Coller, CFO Options on issue (26 Aug’24) 268M Errol Smart, MD & CEO Martin Bouwmeester, Company Secretary Godfrey Gomwe, NED Marcus Birch, Exe
Slide 6: Focus on Two Highly Prospective South African Mineral Districts
FOCUS ON TWO HIGHLY PROSPECTIVE SOUTH AFRICAN MINERAL DISTRICTS Brownfields success being followed by greenfields exploration 3,582km2 of prime mining and exploration rights 450km Orion Okiep Copper Projects Orion Areachap Projects Refer ASX/JSE releases 2 February 2021 and 2 August 2021 Page 6
Slide 7: Prieska Copper Zinc Mine (PCZM)
29 30 28 27 79 47 Cu Zn Ni Co PGE Au Ag Copper Zinc Nickel Cobalt PGE Gold Silver PRIESKA COPPER ZINC MINE (PCZM) Building Tomorrow’s Mines Today ASX: ORN | JSE: ORN Page
Slide 8: Prieska Copper Zinc Mine (PCZM) – Bankable, Fully Permitted, Ready to Mine
PRIESKA COPPER ZINC MINE (PCZM) BANKABLE – FULLY PERMITTED – READY TO MINE The orebody • Globally significant VMS Mineral Resource: 31Mt at 1.2% Cu, 3.6% Zn • Increased Mineral Reserve: 14.5Mt at 1.1% Cu and 3.2% Zn • BFS20 provides indicative project metrics, to be replaced shortly by updated and o
Slide 9: PCZM Cross and Long Sections
PCZM CROSS AND LONG SECTIONS 1,250m 31Mt @ 1.2% Cu, 3.6% Zn 2.6km Refer ASX/JSE release 25 July 2023 Page 9
Slide 10: Key Challenges for Orion with PCZM BFS-20
KEY CHALLENGES FOR ORION WITH PCZM BFS-20 High capital, long lead-time project • Can we bring forward production and reduce funding? Skills / Development Team? • Orion is proven as an explorer and study team – but where are the mining team and experience? Dewatering • What are alternatives to reduce
Slide 11: Alternative Development Strategy
ALTERNATIVE DEVELOPMENT STRATEGY STARTING SMALL TO GROW BIG Early Production Plan for PCZM under investigation to capitalise on the positive near-term outlook for the base metals market STRATEGY • Address perceived high-risk elements of plan to reduce cost of funding • Prove up and implement a reduc
Slide 12: Development Strategy: Early Mining Targets
DEVELOPMENT STRATEGY EARLY MINING TARGETS • Shallow Mining Plan aims to target mining from shallow underground and remnant pillars, while dewatering underway • Stream Finance and early funding progressively drawn down, providing funding for trial mining and Early Production Strategy NW SE • Shallow
Slide 13: Total Funding Secured to Advance PCZM
TOTAL FUNDING SECURED TO ADVANCE PCZM IDC Convertible Loan AUD20 million Drawn and applied for site establishment (ZAR250m) and Trial Mining Triple Flag – Gross Revenue Return AUD10 million Drawn and used to execute Trial Mining Subtotal drawn PCZM Project Finance Facility* AUD30 million Triple Flag
Slide 14: Okiep Copper Project (OCP)
29 30 28 27 79 47 Cu Zn Ni Co PGE Au Ag Copper Zinc Nickel Cobalt PGE Gold Silver OKIEP COPPER PROJECT (OCP) Building Tomorrow’s Mines Today ASX: ORN | JSE: ORN Page
Slide 15: Okiep Copper Project: A Standout Growth Opportunity
OKIEP COPPER PROJECT (OCP) A STANDOUT GROWTH OPPORTUNITY • Progressing Orion’s Okiep Copper Project to acquire and apply for additional prospecting rights in the historic Okiep Copper Complex: • Historical production of +2Mt of copper • JORC Mineral Resource of 11.5Mt at 1.4% Cu, containing 160,000
Slide 16: OCP Historical Discoveries and Mines
OCP HISTORICAL DISCOVERIES AND MINES • Mineralised intrusive bodies intrude structures aligned in east-west trending structural corridors • 25% of mineralised corridors hidden under thin surface cover • Modern geophysics expected to assist in detecting mineralisation underneath the thin cover • Orio
Slide 17: Ownership Changes Coincided with Cu Price Lows
OWNERSHIP CHANGES COINCIDED WITH CU PRICE LOWS Copper Price $/ton (real) Mining ceases / stripped Newmont Goldfields Metorex Source: Mergence Capital Page 17
Slide 18: NOM – Flat Mines 2021 Scoping Study
NOM – FLAT MINES 2021 SCOPING STUDY INDICATED ROBUST ECONOMICS FOR INITIAL “PILOT” MINING • BFS24 nearing completion • Industrial Development Corporation (IDC) project partners • Foundation phase is modelled for 12 years • Concurrent exploration targeting mine expansion • Scoping Study indicates pot
Slide 19: Key Surface Rights Acquired at New Okiep Mining, Flat Mines Project
KEY SURFACE RIGHTS ACQUIRED AT NEW OKIEP MINING, FLAT MINES PROJECT • Acquired 12,156 hectares of surface rights at OCP in January 2024 • Includes 5,687 hectares in the New Okiep Mining Project area and 5,539 hectares in the surrounding Prospecting Rights area in the Northern Cape • Acquisition clea
Slide 20: Validation Drilling
VALIDATION DRILLING • The recent acquisition of the Mora Plase Farms has permitted the commencement of a validation drilling programme into the Flat Mines East and South deposits • Drill core from this programme will be used to validate the legacy exploration results in these areas, and provide samp
Slide 21: Jacomynspan Nickel-Copper-PGE Project (JMP)
29 30 28 27 79 47 Cu Zn Ni Co PGE Au Ag Copper Zinc Nickel Cobalt PGE Gold Silver JACOMYNSPAN NICKEL-COPPER-PGE PROJECT (JMP) Building Tomorrow’s Mines Today ASX: www.ORN | JSE: ORN orionminerals.com.au Page
Slide 22: Jacomynspan Project (JMP): Nickel-Copper-Cobalt-PGE Mining Right
JACOMYNSPAN PROJECT (JMP) NICKEL-COPPER-COBALT-PGE MINING RIGHT Potential significant future metals producer • Only 10% of the outcropping/shallow sub cropping mineralised intrusive has been drilled • JORC compliant Mineral Resources: >65 million tonnes of ore containing 180kt Ni, 120kt Cu, 12kt Co
Slide 23: JMP Ownership
JMP OWNERSHIP - 50% ORION AND 37%, AFRICAN NICKEL, 13% FOUNDING MINORITIES Executed Mining Right over Ni-Cu-Co-PGE+Au Intrusive Complex Refer ASX/JSE release 4 March 2022 Page 23
Slide 24: Raw Materials Critical to Electric Vehicle Production
RAW MATERIALS CRITICAL TO ELECTRIC VEHICLE PRODUCTION The Jacomynspan Mining Right Area has mineral deposits that can potentially supply 13 metals and materials of the 24 that are critical to battery electric vehicle production, cleaner combustion & energy transition. Investigating innovative techno
Slide 25: Investigating Innovative Combination of Metal Vapour Refining Technologies
INVESTIGATING INNOVATIVE COMBINATION OF METAL VAPOUR REFINING TECHNOLOGIES (MVT) • Treating higher metallurgical recovery – lower grade concentrates (Maximises value extraction of ore deposit) • Enables >90% metal recovery to concentrate • Recovery of >95% of all metals from sulphide concentrates wi
Slide 26: Combining Proven Chloro and Carbonyl Metal Vapour Process Technologies
COMBINING PROVEN CHLORO AND CARBONYL METAL VAPOUR PROCESS TECHNOLOGIES “MVT” TO PRODUCE HIGH PURITY CRITICAL METAL POWDER PRODUCTS Tronox – A super scale user of Chloro – MVT United Kingdom Netherlands Australia Saudi Arabia Copper Cliff, Canada Clydach, Wales Germany Vale is the worldwide leader in
Slide 27: Areachap Belt – Enormous Exploration Upside
AREACHAP BELT-ENORMOUS EXPLORATION UPSIDE AREACHAP – AN UNDER-EXPLORED BELT WITH HIGH METAL ENDOWMENT Targeting high-quality deposits in an under-explored district Multiple Cu-Zn, Cu-Au VMS, Ni- Cu-Co-PGE-Au intrusive targets and Li, REE pegmatite within Orion’s mineral rights • Jacomynspan – Mining
Slide 28: ESG Leader, Promoting Regional Growth
ESG LEADER, PROMOTING REGIONAL GROWTH BUILDING MINES, BUILDING COMMUNITIES • Emerging ESG Leader Award at the 2020 AAMEG Africa Awards • Junior ESG Award for Enhanced Labour Standards at the 2022 Investing in African Mining Indaba • Emerging ESG Leader for an Explorer/Developer for its Community Par
Slide 29: Mineral Resource & Reserve
Mineral Resource & Reserve Prieska Copper Zinc Mine – Mineral Resource (Effective Date 25 July 2023) Cu Cu Zn Zn Resource Classification Tonnes (tonnes) (%) (tonnes) (%) Deep Sulphide Indicated 19,000,000 220,000 1.17 670,000 3.60 Resource Inferred 10,000,000 120,000 1.1 420,000 4.1 Indicated 1,900,
Slide 30: For further information, contact
For further information, contact: Orion Minerals Limited Level 27, 120 Collins Street Melbourne, Vic, 3000 Australia Phone: +61 (0)3 8080 7170 Email: info@orionminerals.com.au Website: www.orionminerals.com.au ASX: ORN | JSE: ORN Page
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