Slide 1: June 2021 Quarterly Presentation
For personal use only June 2021 Quarterly Presentation Investor conference call ASX Code: RED 15 July 2021 www.red5ltd.com
Slide 2: Competent Person’s Statement and Disclaimer
Competent Person’s Statement and Disclaimer For personal use only Competent Person Statements for JORC 2012 Mineral Resource and Ore Reserves The information in this presentation that relates to the Mineral Resources at the Siana open pit is extracted from the report titled Siana Gold Project – Open
Slide 3: Red 5 – A standout growth opportunity
Red 5 – A standout growth opportunity ✓ For personal use only Red 5 has two gold mines in one of the world’s safest and most prospective gold districts ▪ 2,816 sq km of granted and pending tenements ✓ King of the Hills (KOTH) is a major Australian gold deposit – Top 10-largest Ore Reserves in Austra
Slide 4: Now fully financed through to operations
KOTH now fully financed through to operations For personal use only Facility Amount and ▪ A$175 million Syndicated Facility Agreement comprising: ▪ A$160 million Senior Secured Project Loan Facility; and Syndicate Banks ▪ A$15 million Cost Overrun and Working Capital Facility. ▪ Syndicate Banks – Ma
Slide 5: Red 5 Limited – Corporate profile
Red 5 Limited – Corporate profile For personal use only Our Company Vision “To be a successful multi-operational exploration and mining company, providing benefits to all stakeholders, through the consistent application of technical excellence, and responsible and sustainable industry practices.” Sh
Slide 6: Darlot - FY21 transition year to satellite feed
Darlot - FY21 transition year to satellite feed For personal use only ▪ Full year production of 76,104 ounces1 (guidance 74,000 – 78,000 ounces) and AISC of $2,273/oz2 (guidance of $2,240/oz - $2,290/oz)2 ▪ June 2021 Quarter production of 15,251 ounces and AISC of $2,461/oz1 ▪ Production in Darlot U
Slide 7: Great Western satellite mine now operating as planned
Great Western satellite mine now operating as planned For personal use only 7 www.red5ltd.com
Slide 8: King of the Hills – Australia’s Next Significant Gold Mine
For personal use only King of the Hills– Australia’s Next Significant Gold Mine 8
Slide 9: Fully funded, de-risked, Top-10 gold deposit
KOTH - fully funded, de-risked, Top-10 gold deposit For personal use only ▪ Gold companies/assets (Bubble Size = Indicative Production p.a) Australia’s top 10 gold deposits by Ore Reserve2 ▪ AISC and indicative mine reserve life of WA-based gold companies1,2 Mt g/t Moz 1,700 Cadia 1400.0 0.4 20.0 St
Slide 10: Site activities underway, equipment being delivered
KOTH - site activities underway, equipment being delivered For personal use only A$M1 Processing and infrastructure 188 Owners costs 12 Sub-total 200 Contingency 19 Sub-total 219 Mining pre-strip 7 Installation of CIL tanks Total (Real) capital cost 226 ▪ The majority of remaining project expenditur
Slide 11: Village is fully operational
KOTH - village is fully operational For personal use only 11 www.red5ltd.com
Slide 12: Process plant steel erection commenced
KOTH - process plant steel erection commenced For personal use only ▪ MACA Interquip is the EPC Contractor ▪ Plant design on track – 97% complete ▪ All platework and steelwork packages awarded – to be fabricated in WA ▪ 70% of steelworks delivered to site ▪ CIL tanks being installed ▪ Mill and stock
Slide 13: Delivery of long lead items to site
KOTH - delivery of long lead items to site For personal use only ▪ All components of the 15MW SAG mill are completed; Majority now on site ▪ The Mill Shell will arrive in Perth in the Sept Quarter ▪ The variable speed drive and other minor mill elements are currently being shipped to WA ▪ New Metso
Slide 14: First gold on-track for June 2022 quarter
KOTH - first gold on-track for June 2022 quarter For personal use only 2021 2022 MQ JQ SQ DQ MQ JQ SQ DQ Debt financing Construction and mine permits Bulk earthworks and Village EPC full mobilisation Mill and Crusher delivery to site Site construction Mine Contractor mobilisation Commissioning Produ
Slide 15: Siana Gold Project – evaluating options
Siana Gold Project – evaluating options For personal use only ▪ The Siana Gold Mine, owned by Philippine-affiliated company Greenstone Resources, suspended mine operations in April 2017 ▪ Maintaining mill and pit dewatering to preserve value ▪ Siana is a valuable gold mining asset1: ▪ 8 year Life-of
Slide 16: Long mine life generating substantial cash flow
KOTH – long mine life generating substantial cash flow1 For personal use only Pre-tax Unit $2,000/oz $2,250/oz $2,500/oz $2,750/oz $3,000/oz At a gold price of A$2,500/oz: Project cashflow $M 1,147 1,710 2,273 2,837 3,400 NPV8% $M 512 806 1,101 1,395 1,689 ▪ Free cashflow (after tax) of: IRR % 38.0%
Slide 17: A standout value opportunity in the Australian gold sector
A standout value opportunity in the Australian gold sector For personal use only Red 5 EV/Reserve relative to its peers 1,200 Ramelius ▪ Valuation of WA based- Silver Lake gold companies1 ▪ Bubble Size = Enterprise 900 EV / Reserve (A$/oz) Bellevue Value Gold Road Capricorn The planned development 6
Slide 18: Thank you
For personal use only Thank you 18 www.red5ltd.com ASX Code: RED
Slide 19: Appendix
For personal use only 19 Appendix
Slide 20: Leadership team with strong development expertise
Leadership team with strong development expertise For personal use only Red 5 has a strong and capable team, with many years of mining and development experience both at Red 5 and previously at multi-billion international development projects – the Company is well placed to deliver the KOTH developm
Slide 21: 4.1Moz Mineral Resource
KOTH - 4.1Moz Mineral Resource1 For personal use only Total Open Pit & Underground KOTH Resource as at March 2020 Cut-off Mining Tonnes Gold Contained Gold ▪ Cut-off date for inclusion of Classification drilling data and mining (g/t) Method (000t) (g/t) (000oz) depletion as at 19 February Indicated
Slide 22: 2.4Moz Ore Reserve
KOTH - 2.4Moz Ore Reserve1 For personal use only Total KOTH Ore Reserves as at September 2020 Cut-off JORC 2012 Tonnes Gold Contained Deposit Mining Method (g/t) Classification (Mt) (g/t) Gold (Moz) KOTH Open pit 0.39 Probable 58.5 1.1 2.1 KOTH Underground 1.60 Probable 2.4 2.3 0.2 Rainbow Open pit
Slide 23: Geology is well understood
KOTH - geology is well understood For personal use only Mar-20 Mineral Resource1 Aug-20 Ore Reserve2 91Mt @ 1.4 g/t for 64.6Mt @ 1.2 g/t for 4.1Moz Au 2.4Moz Au ▪ Ore body in the contact zone of a substantial Granodiorite intrusion ▪ 4km long x 2km wide ▪ Historical understanding from previous open
Slide 24: Mineralisation open in all directions
KOTH - mineralisation open in all directions For personal use only White Walker Lemonwood South Pit Drilling bulk stope New Structural Corridor Proof of concept drilling confirms gold mineralisation extends 500m from Mineral Resource1 Mineralised stockwork penetrates at least 70 metres into the gran
Slide 25: Satellite Deposits – Mineral Resource of 308koz
KOTH - Satellite Deposits1 – Mineral Resource of 308koz For personal use only 1. Red 5 ASX Release: 6 May 2020 2. Red 5 ASX Release: 1 May 2019 25 www.red5ltd.com
Slide 26: Scope to increase production and extend LoM
KOTH - scope to increase production and extend LoM For personal use only ▪ Future expansion in processing capacity ▪ 6Mtpa crushing circuit installed ▪ Oversized 4Mtpa SAG Mill selected ▪ Design allowance for upgrade of the grinding, leaching and elution components ▪ Minimal interruption to future p
Slide 27: Exploration – numerous targets
KOTH exploration – numerous targets ▪ Integrated datasets have identified priority targets For personal use only along the Tarmoola and Ursus Fault corridors ▪ Tarmoola Fault Corridor ▪ Poorly tested outside of the mine area ▪ Bulk of historical AC/RAB drilling ineffective (failed to reach top of fr
Slide 28: Mine plan optimises material movement over LoM
KOTH - mine plan optimises material movement over LoM For personal use only Cost of Production ($A/oz) Yrs 1-6 LOM ▪ Ore Reserves, Life Of Mine Plan performed by: Mining 895 908 ▪ Open Pit – SRK Consulting Processing 273 321 ▪ Underground – Entech ▪ Mine scheduling being undertaken by Orelogy G&A 39
Slide 29: Strategic, low-cost mill in Eastern Goldfields
KOTH - strategic, low-cost mill in Eastern Goldfields For personal use only ▪ High level of confidence in metallurgy: Classification ▪ Historical processing data (1989-2004) ▪ Metallurgical testwork (historical and FFS) Primary Gyratory Crusher ▪ Processing KOTH ore at Darlot Gravity Circuit ▪ Proce
Slide 30: 15MW SAG mill supports higher throughput
KOTH - 15MW SAG mill supports higher throughput For personal use only Hardest Ore Design Mid High ▪ Conventional 4Mtpa CIL plant ▪ Acquired 15MW, dual Power Draw (kW) 9,272 10,859 12,445 synchronous motor semi- autonomous grind (SAG) mill Grind Size (P80) 150 150 150 with VVVF drive Tonnes Per Hour
Slide 31: Mine plan focussed on maximising value
KOTH - mine plan focussed on maximising value ▪ Early years of LOM benefit from UG mining and For personal use only processing of high-grade ore ▪ Potential to extend UG mining beyond FY27 ▪ Low-grade ore is stockpiled and processed in the back half of the LOM Plan ▪ Lower AISC during Years 1-6 resu
Slide 32: Darlot – an exceptional exploration footprint
Darlot – an exceptional exploration footprint For personal use only Darlot Gold Mine1 Cables & Mission4 ▪ Resource 11.8Mt @ 3.4g/t Au for ▪ Combined JORC 2004 Resource of 1.5Mt @ 3.1g/t Au for 185koz2 1.3Moz ▪ Historical drilling suggests both ▪ Reserve 2.7Mt @ 2.8g/t Au for 239koz deposits remain o
Slide 33: Top Gold Deposit in Australia
Top 20 Gold Deposit in Australia For personal use only Resources Reserves Mt g/t Moz Mt g/t Moz Cadia 3184.0 0.4 36.1 Cadia 1400.0 0.4 20.0 Boddington 836.2 0.6 16.2 Boddington 566.3 0.7 11.9 Golden Mile (100%) 272.6 1.4 12.0 Golden Mile - KCGM 178.2 1.1 6.3 Tanami 76.9 4.1 10.1 Tanami 36.2 5.0 5.9
Slide 34: Australian Top Gold Deposits
Australian Top 20 Gold Deposits1 Resources Reserves Resources Reserves Resources Reserves For personal use only Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Mt g/t Moz Sunrise Dam AngloGold Cadia Newcrest St Ives Goldfields Measured 27.3 1.62 1.4 Proven 11.1 1.52 0.5 Measured 32.0 0.30 0.3