Santana Minerals Ltd. · ASX:SMI
Santana Minerals — Resource Rising Stars Conference December 2024
25 slides from Santana Minerals's conference presentation, Dec 3, 2024
Slide 1: Bendigo-Ophir Gold Project
For personal use only Bendigo-Ophir Gold Project Developing New Zealand's newest and richest gold mine December 2024 – Resource Rising Stars Conference
Slide 2: Disclaimer
Disclaimer For personal use only Disclaimer Cautionary Statement – Inferred Resources Included in Production Target All information contained in this presentation is of a general nature. Potential investors are cautioned against using the content of this Of the Mineral Resources planned for extracti
Slide 3: Project location
Project location For personal use only • One hour east of Queenstown • 90km West of OceanaGold’s Macraes gold mine • Central Otago region of the South island • 20min drive from Cromwell with 8,000 people • In the semi-arid Central Otago • Private farmland, with agreements to mine in place 3
Slide 4: Project discoveries
Project discoveries For personal use only Rise and Shine (RAS) RAS 2.23koz @ 2.2 g/t Au 1.15Moz Probable Ore Reserve Come In Time CIT 81koz @ 0.8 g/t Au Srex SRX 132koz @ 0.8 g/t Au 73koz @ 0.9 g/t Au Indicated Srex-East SRE 13koz @ 0.8 g/t Au Combined Total RSSZ 2.46koz @ 1.9 g/t Au* 4 ASX Release
Slide 5: The Rise & Shine (RAS)
The Rise & Shine (RAS) Long Section ▪ A blind discovery For personal use only ▪ 85,000m+ of Diamond Drilling Section C ▪ 1.7 km down-plunge and open Section B ▪ 450m wide 1.7km ▪ High-grade core (150m- Section A 200m wide) ▪ (30 - 40m thick) ▪ Bulk barren waste pre- strip 5
Slide 6: The Rise & Shine (RAS)
The Rise & Shine (RAS) Long Section ▪ A blind discovery For personal use only ▪ 85,000m+ of Diamond Drilling Section C ▪ 1.7 km down-plunge and open Section B ▪ 450m wide 1.7km ▪ High-grade core (150m- Section A 200m wide) ▪ (30 - 40m thick) ▪ Bulk barren waste pre- strip 6
Slide 7: The Rise & Shine (RAS)
The Rise & Shine (RAS) Long Section ▪ A blind discovery For personal use only ▪ 85,000m+ of Diamond Drilling Section C ▪ 1.7 km down-plunge and open Section B ▪ 450m wide 1.7km ▪ High-grade core (150m- Section A 200m wide) ▪ (30 - 40m thick) ▪ Bulk barren waste pre- strip 7
Slide 8: The Rise & Shine (RAS)
The Rise & Shine (RAS) Long Section ▪ A blind discovery For personal use only ▪ 85,000m+ of Diamond Drilling Section C ▪ 1.7 km down-plunge and open Section B ▪ 450m wide 1.7km ▪ High-grade core (150m- Section A 200m wide) ▪ (30 - 40m thick) ▪ Bulk barren waste pre- strip 8
Slide 9: Continuous and open at depth
Continuous and open at depth • A blind discovery For personal use only • 85,000m+ of Diamond Drilling • 1.7 km down- plunge and open • 450m wide • High-grade core (150m-200m wide) (30 - 40m thick) • Bulk barren waste pre-strip 9
Slide 10: The Rise & Shine (RAS)
The Rise & Shine (RAS) Battery Hill • A blind discovery For personal use only • 85,000m+ of Diamond Drilling Rise• & 1.7 Shine kmValley down- plunge and open Shepherds Creek • 450m wide • High-grade core (150m-200m wide) (30 - 40m thick) • Bulk barren waste pre-strip 10 5
Slide 11: Blessed with infrastructure
Blessed with infrastructure For personal use only No FIFO Bendigo-Ophir RAS Gold Project No major camps 66kV Substation Main road access 8km from the project Access to fresh water Cheap power State Highway 8 EASY ACCESS Borefield FRESH WATER Cromwell 8,000 people Queenstown International Airport 1hr
Slide 12: PFS Summary
PFS SUMMARY For personal use only Based on a spot gold price of A$4,000/oz ROBUST RETURNS HIGH GRADE HIGH MARGIN A$1.06 billion NPV8 (after tax) >3g/t from RAS in early stages >A$1,500/oz margin after-tax 68% IRR (after tax) 2.3g/t on average for project After all costs and full depreciation of <1yr
Slide 13: Proposed mine infrastructure and layout
Proposed mine infrastructure and layout Project is located on private free-hold farm For personal use only land with agreements in place to mine. Allows a smooth pathway to permitting. Maximum footprint shown for illustration Project infrastructure includes purposes only Open pit mine Underground 1.
Slide 14: Bendigo-Ophir Gold Project PFS outcomes
Bendigo-Ophir Gold Project PFS outcomes For personal use only Production profile BOGP PFS Outcomes 9.2 years 16.8Mt @ 2.3g/t 1.15Moz of Gold 125koz pa • Robust economics initial mine life ore mined sold average production over ~900koz Inferred resources initial mine life • Exceptional margins remain
Slide 15: Highly profitable investment case
Highly profitable investment case Revenue per annum A$ millions (main production years) For personal use only 800 740 700 609 605 600 552 514 515 Strong financials Units Total A$ $ Millions 476 500 393 400 Revenue $ billion 4.6 300 183 EBITDA $ billion 3.1 200 100 Free cash after tax $ billion 1.8 0
Slide 16: Very high grades in early years enables fast payback
Very high grades in early years enables fast payback For personal use only Gold Production OP/UG (oz per annum) w/ AISC AUD (primary production years) 200 2,500 185 180 2,044 160 2,000 152 151 129 140 119 129 1,709 138 1,641 1,604 120 1,500 Production (kOz) AISC $/oz 1,287 98 1,302 100 1,268 1,213 1
Slide 17: Open pit mining at Rise & Shine (RAS) and Srex (SRX)
Open pit mining at Rise & Shine (RAS) and Srex (SRX) For personal use only RAS/SRX gold inventory Mining physicals 9yrs mining 1Moz 13Mt @ 2.36g/t from RAS 1.4Mt @ 0.68g/t from SRX 14.4Mt at 2.2g/t 94% ore feed is Probable Reserve Mining method Mined gold Five stages of cutbacks 982koz Au from RAS 2
Slide 18: Underground mining at RAS
Underground mining at RAS For personal use only RAS UG inventory Mining physicals 6yrs mining 232koz 2.4Mt ore Total development 12km 2.4Mt at 3.0g/t 96% Indicated ore feed Mining method Mined gold Long hole stoping w/paste fill 235koz Au 5.5mW x 5.5mW twin declines Cable bolts and shotcrete Grade 2
Slide 19: Conventional CIL processing plant
Conventional CIL processing plant For personal use only Five phases of metallurgical testing completed Very high recoveries at RAS of 93% Overall PFS recovery of 92.4% THE PFS DESIGN USES SIMPLE CIL TECHNOLOGY TO GENERATE VERY HIGH RECOVERIES 1 Single stage crush 2 SAG milling 3 Gravity circuit 4 CI
Slide 20: An Approved Fast Track Project
An Approved Fast Track Project For personal use only The Fast Track Approvals Bill – establishes a fast track approvals regime for projects of regional and national significance. A one-stop-shop review process covering all relevant Acts within 6 months Officially Bill becomes Submit named in the PER
Slide 21: Permitting and timeline to first gold
Permitting and timeline to first gold Timeline subject to permits Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q4/26 For personal use only Lodge Application Approvals Approval Detailed engineering Mobilisation Process Plant Earthworks Plant Construction Pioneering Mobilisation Detailed ELF strip
Slide 22: Company snapshot
Company snapshot Board & Management Well Funded For personal use only Peter Cook Capital Structure Non-Exec Chair Geo and mine maker Market Capitalisation A$339 million 639.9 million FPO shares @ A$0.53/share - Nov 29, 2024 Damian Spring 86M Options at $0.36ps expiry date (28 Feb 2025) Options CEO &
Slide 23: Moving immediately to detailed construction planning
MOVING IMMEDIATELY TO DETAILED CONSTRUCTION PLANNING For personal use only Based on a spot gold price of A$4,000/oz ROBUST RETURNS HIGH GRADE HIGH MARGIN A$1.06 billion NPV8 (after tax) >3g/t from RAS in early stages >A$1,500/oz margin after-tax 68% IRR (after tax) 2.3g/t on average for project Afte
Slide 24: Maiden Ore Reserves – High conversions
Maiden Ore Reserves – High conversions PFS targeted 1.45Moz of Indicated resources and converted 82% (1.18Moz) to a Probable Reserve For personal use only Area Proven Probable Total Bendigo-Ophir Mt Au g/t Mt Au g/t Mt Au g/t Au koz Maiden Ore Reserve RAS (open pit) - - 11.9 2.42 11.9 2.43 928 15Mt
Slide 25: Appendix 1: Mineral Resource Estimate
Appendix 1: Mineral Resource Estimate Deposit Mining method Category Cutoff (Au g/t) tonnes (Mt) Au (g/t) koz For personal use only Indicated 19.6 2.3 1,452 open pit Inferred 0.25 9.9 2.0 634 Total 29.5 2.2 2,086 Indicated 0 1.9 0 RAS underground Inferred 1.5 2.1 2.2 145 Total 2.1 2.2 145 Indicated
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