Saturn Metals Ltd. · ASX:STN
Saturn Metals — Shareholder Meeting (November 2023)
27 slides from Saturn Metals's shareholder meeting presentation, Nov 29, 2023
Slide 1: AGM Presentation ASX Announcement
ASX Announcement 29 November 2023 AGM PRESENTATION Saturn Metals Limited (ASX:STN) (“Saturn” or the “Company”) advises that the following presentation will be given by Managing Director Ian Bamborough at the Company’s annual general meeting of shareholders later today. This announcement has been app
Slide 2: Saturn Metals Project Areas: Apollo Hill
Appendix 1: Saturn Metals Project Areas Apollo Hill (29.15°S and 121.68°E) is located approximately 60km south-east of Leonora in the heart of WA’s goldfields region (Figure 1). The deposit and the Apollo Hill Project are 100% owned by Saturn and are surrounded by good infrastructure and several sig
Slide 3: West Wyalong Project location
In addition, Saturn has a second quality gold exploration project in Australia. The Company has an option to earn an 85% joint venture interest in the West Wyalong Project (Figure 2), which represents a high-grade vein opportunity on the highly gold prospective Gilmore suture within the famous Lachl
Slide 4: Apollo Hill: Heap Leach Gold
Apollo Hill: For personal use only Heap Leach Gold Presentation to Shareholders at the Annual General Meeting: Wednesday, 29 November 2023 2.30pm ASX:STN Ian Bamborough w w w .saturnm etals.com .au Managing Director
Slide 5: Apollo Hill 'Greater' Gold Project Overview, Location and Tenure
Apollo Hill ‘Greater’ Gold Project Overview, Location and Tenure • Central strategic position in the Belt For personal use only • 60km south-east of Leonora in Western Australia in world class multi-million ounce gold province close to existing gold infrastructure • Centred around the current 1.84Mo
Slide 6: Corporate Snapshot
Corporate Snapshot Strong Register – Compelling Value Corporate Metrics & Share Structure Assets For personal use only Cash as at 30 September 2023 $1.61M EV/Resource oz $15 1 + Capital Raising announced 16 October 2023 $7.70M Mineral Resources – Apollo Hill Gold Deposit 1.84Moz 2 Ordinary Shares on
Slide 7: Apollo Hill Resource Upgrade (1.84Moz Au)
Apollo Hill – Resource Upgrade (1.84Moz Au1) June 2023 Simple, Single, Big, Low Strip, Large Selective Mining Unit, Low Unit Cost, Open Pit Shell 6772000N 372000E 6774000N Apollo Hill May 2022 Mineral Resource For personal use only 1,469,000oz (76Mt @ 0.60g/t Au at 0.23g/t Au cut-off) 3D Oblique vie
Slide 8: Simple Metallurgy – Apollo's Biggest Cost Differentiator
Simple Metallurgy – Apollo’s Biggest Cost Differentiator Excellent Gold Extraction Characteristics for Easily Recoverable Gold HEAP LEACHINGA Gold Grains For personal use only Efficient, Low-Cost Recovery Route Excellent recovery – +74% - 85% in columns at completion Flat grade recovery curve –
Slide 9: Leach Kinetics and Recovery Performance
Leach Kinetics and Recovery Performance Strong Curves and a Predictable FinishA For personal use only A Refer Slide 22 ASX:STN | www.saturnmetals.com.au 6
Slide 10: Preliminary Economic Assessment: Production Target 1.63Moz
Preliminary Economic Assessment1 Production Target – 1.63Moz Initially targeting 10Mtpa for 10 years from current Resource For personal use only • Life of mine production totals 93.9 Mt at 0.54 g/t Au for 1,636,000 oz of contained gold. Life of mine waste movement totals 140.7 Mt, equating to an ave
Slide 11: Apollo Hill 2023 Mineral Resource & PEA Whittle Shell
Apollo Hill 2023 Mineral Resource & PEA Whittle Shell Scalability SW NE Only 1.5:1 strip ratio LOM, more 0.35km ounces in shell For personal use only TOPO BOCO Initial strip ratio over the first two TOFR years is 1.2:1 Thick ore zones +100m Bulk tonnage Bigger selective mining units, Drill
Slide 12: Preliminary Economic Assessment: Heap Leach Circuit
Preliminary Economic Assessment Heap Leach Circuit Initially targeting processing For personal use only rate of 10Mtpa for 10 years • Simple scheduling • Conventional process • HPGR crushing technology • Strong recovery – conservative 75% adopted in PEA Figure source ‘Apollo Hill Preliminary Economi
Slide 13: Capital Efficiency: 2.8 Year Payback Period
Capital Efficiency 2.8 Year Payback Period Total Pre-Production Capital (A$M) For personal use only Site Infrastructure $ 42.1 Owner Costs $ 7.1 Processing Facilities $ 230.1 Heap Leach Pad $ 6.5 Open Pit (Early-stage material $ 17.9 movements for pad and infrastructure establishment) Total Pre-Prod
Slide 14: C1 Cost $1,730/oz & AISC $1,857/oz
Preliminary Economic Assessment C1 Cost $1,730/oz & AISC $1,857/oz Low Cost per tonne and Efficient Cost per ounce – Bulk Mining and Economies of Scale For personal use only • Mining $4.50/t (10m bench – large efficient SMU’s) • Processing $9.42/t Note: All values published on this slide are current
Slide 15: $694M Free Cash Flow and 30% IRR
Preliminary Economic Assessment $694M Free Cash Flow and 30% IRR Financial Highlights: • Robust financials at A$2,665/oz base case For personal use only Gold Price A$/oz 2,665 Project EBITDA (earnings before interest, taxes, depreciation & amortisation) A$M 1,038 Free Cash Flow (undiscounted and pre
Slide 16: PEA Sensitivity Analysis
Preliminary Economic Assessment Sensitivity Analysis Gold Price on 01/08/2023 Gold Price on 01/08/2023 For personal use only (A$ 2,944/oz) IRR % (7%) (A$ 2,944/oz) Cashflow A$ 2,665/oz A$ 2,665/oz Gold Price (+/-10%) $375.4M $1,013.0M Gold Price (+/-10%) 18% 41% OP Costs (+/-15%) $403.2M OP Costs (+
Slide 17: Bulk Sample Pit and Scale Up Test Plant Planning and Permitting
Bulk Sample Pit and Scale Up Test Plant Concept Planning and Permitting Design Concept 1Mt @ 0.6g/t Au for 19.5koz mined and 14koz recovered Studies Commenced For personal use only ASX:STN | www.saturnmetals.com.au 14
Slide 18: Bulk Sample Concept: Grade Control Drilling Results
Bulk Sample Concept • 55m @ 2.12g/t Au from 0m – AHRC0897 Grade Control Drilling – Excellent ResultsA from Surface 6774000N including 19 m @ 5.59g/t Au from 0m 6772000N 372000E including 10m @ 10.40g/t Au from 6m For personal use only • 36m @ 2.34g/t Au from 0m – AHRC0896, 3D Oblique view Looking No
Slide 19: Bulk Sample Pit and Scaled Up Test Plant Concept
Bulk Sample Pit and Scaled Up Test Plant Concept Planned Infrastructure in same location as Big Project Plant – for later integration N Bulk Sample & Scale up Test For personal use only • Sample Pit • Leach Pads • Leach Ponds Other Capital deferred by planned utilisation of: • Contract Crushing • Ac
Slide 20: Grade Control Drilling – Outcropping Higher-Grade Shoots
Bulk Sample Concept Grade Control Drilling – Outcropping Higher-Grade Shoots • Higher-grade shoots intersected • Minimal non-mineralised material in bulk sample pit 6774000N 6772000N 372000E • Highlights increased potential for repeat shoots higher-grade across the deposit For personal use only 250m
Slide 21: Resource Extension – Apollo Hill Corridor
Resource Extension – Apollo Hill Corridor Strong Intersections Provide Expansion Opportunities on Multiple Shallow Fronts Thick, shallow, and For personal use only high-grade intersections from reverse circulation drilling includeA: 7m @ 11.18g/t Au from 172m – AHRC0813 27m @ 0.51g/t Au from 50m
Slide 22: Resource Comparison Peer Group
Resource Comparison Round Mountain, USA Peer Group Kinross Gold Corporation Apollo Hill – firmly in bulk Tujuh Bukit, IDN For personal use only Merdeka Copper Gold tonnage economic space: Reserves* Apollo Hill, AUS Saturn Metals Grade Scale Marrigold, USA SSR Mining Moss, USA Bald Mountain, USA
Slide 23: Regional Potential – Important Corridor Yielding Results
Regional Potential – Important Corridor Yielding Results Satellite Prospects Developing • ~1,000km2 of greenfields land package starting to yield For personal use only results • 14 prospects to date Apollo Hill 1.84Moz1 • Evidence of a continuous gold system outlined in drill intersections over 60km
Slide 24: Development Plan Timeline
Development Plan Timeline To Scale Up Bulk Testing and Full-Scale Production 2023 2024 2025 2026 For personal use only Scaled Up Studies Bulk Testing Scaled Up Testing Operations ASX:STN | www.saturnmetals.com.au 21
Slide 25: Disclaimer & Competent Person Statements
Disclaimer & Competent Person Statements GENERAL The Company has prepared this presentation. Whilst the information contained in this presentation has been prepared with all reasonable care from information provided by the Company and from sources, which the Company believes are reliable, no respons
Slide 26: Appendix A: Mineral Resource – Apollo Hill Gold Deposit
Appendix A Mineral Resource – Apollo Hill Gold Deposit Measured Indicated Inferred Mineral Resource Total For personal use only Lower Cut-off Oxidation state Grade Au g/t Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) (M
Slide 27: Appendix B: Resource Comparison – Peer Group Data
Appendix B Resource Comparison – Peer Group Data Mineral Resource For personal use only Measured Indicated Inferred Total Source Company Desposit Stage Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces 1 Kinross Gold Corporation Bald Mountain Production 8,381,000 0.7 19