Musgrave Minerals — Sydney Resources Round-up (May 2023)
27 slides from Musgrave Minerals's conference presentation, May 9, 2023
Slide 1: Cue Gold Project Western Australia
Cue Gold Project Western Australia Musgrave Minerals Limited ACN 147 890 671 Sydney Resources Round-up 9 May 2023 Rob Waugh Managing Director ASX: MGV
Slide 2: Disclaimer
Disclaimer Important Canadian Securities Administrators (the "Canadian NI 43-101 Standards"); or (ii) Item 1300 of Regulation S-K, which governs disclosures of mineral reserves in registration statements filed with the SEC. Information contained in this Presentation describing mineral deposits may n
Slide 3: Cue Gold Project Stage 1 Prefeasibility – Highlights
Cue Gold Project Stage 1 Prefeasibility – Highlights • Stage 1 PFS completed 17 April 2023 • Demonstrates a high margin, standalone production opportunity Pre-tax Net Cash Base Case NPV83 Payback EBITDA Flow2 A$2,600/oz Gold $235M 9 Months $528M $314M Production1 IRR Pre-tax 337 koz 95% LOM Initial
Slide 4: Corporate Overview
Corporate Overview ASX Code MGV 12−month Share Price Performance Shares on Issue 591M Share Price (5 May 2023) $0.235 Declining US$ Uncertainty & Capital Improving Cash on Hand (31 March 2023) ~$11.8M Price gold price Market volatility Raise US$ gold price Securities Held (LEG, CYM) ~$0.7M Debt Nil
Slide 5: Board and Management
Board and Management Managing General Manager Exploration Director Development Manager Rob Waugh Anthony Buckingham Jonathan Gough BSc, MSc, FAusIMM, MAIG BEng, MAusIMM BSc (Hons), MSc, MAIG Non-Executive Non-Executive Non-Executive Non-Executive Chairman Director Director Director Graham Ascough Ke
Slide 6: Excellent Infrastructure – Development Options
Excellent Infrastructure – Development Options A High Margin Gold Mine in the # 1 Mining Jurisdiction1 Strategic and project appeal • High-margin potential standalone operation • Surrounded by significant gold producers (Ramelius, Westgold, Silver Lake) • Excellent road infrastructure • Proximal to
Slide 7: Cue Gold Project Stage 1 Prefeasibility – Base Case Highlights
Cue Gold Project Stage 1 Prefeasibility – Base Case Highlights • Stage 1 PFS completed 17 April 2023 • Demonstrates a high margin, standalone production opportunity Gold Pre-tax Production1 NPV83 Payback Net Cash EBITDA 337 koz $235M 9 Months Flow2 $528M LOM Post-tax IRR $314M Pre-tax Initial NPV83
Slide 8: Cue Gold Project Stage 1 Prefeasibility – Stage 1 PFS Study Team
Cue Gold Project Stage 1 Prefeasibility – Stage 1 PFS Study Team Resource Estimation Process Engineering & Metallurgical Metallurgical Testwork Infrastructure Mining Engineering & Geotechnical Geochemical Hydrology Mine Costing Tailings Energy & Decarbonisation Project Permitting & Surface Water Man
Slide 9: Cue Gold Project Stage 1 Prefeasibility – Financials and Production
Cue Gold Project Stage 1 Prefeasibility – Financials and Production ASX: MGV | Musgrave Minerals Limited Cue Gold Project Western Australia 9
Slide 10: Cue Gold Project Stage 1 Prefeasibility – Base Case Sensitivity
Cue Gold Project Stage 1 Prefeasibility – Base Case Sensitivity CGP Sensitivity Factors on NCF ASX: MGV | Musgrave Minerals Limited Cue Gold Project Western Australia 10
Slide 11: VRIFY Interactive 3D Model - Cue Gold Project
VRIFY Interactive 3D Model - Cue Gold Project www.musgraveminerals.com.au ASX: MGV | Musgrave Minerals Limited 11
Slide 12: Cue Gold Project Stage 1 Prefeasibility – Site Layout and Permitting
Cue Gold Project Stage 1 Prefeasibility – Site Layout and Permitting No known impediments to successful permitting • All Stage 1 PFS deposits located on a. Granted Mining Leases. b. 100% MGV owned ground. • Environmental Permits • Native Vegetation Clearing Permit • Prescribed Premise Licenses (dewa
Slide 13: ESG (Environment, Social & Governance)
ESG (Environment, Social & Governance) E • Minimise our carbon footprint. • Hybrid power options integrated into planning • Regularly monitor and strive to continually improve our • Minimise disturbance and rehabilitation environmental performance. • Consult and communicate openly with communities,
Slide 14: Objectives
Objectives Targeting high-grade systems and standalone gold production Exploration Development Drill test targets on 100% Deliver robust Stage 2 MGV tenure with aim to Prefeasibility Study adding deliver new discoveries and mine life to Stage 1 PFS, grow the gold resource base utilising updated Mine
Slide 15: Cue Gold Project Stage 1 Prefeasibility – Next Steps
Cue Gold Project Stage 1 Prefeasibility – Next Steps Continued Resource definition and 2023 exploration drilling (>40,000m’s) Adding Mine Life MRE update End of 2023 Funded with MGV current cash Optimising Continue mining studies and 2023 Development testwork Progress and submit formal Advancing min
Slide 16: Cue Gold Project Stage 1 Prefeasibility – Opportunities
Cue Gold Project Stage 1 Prefeasibility – Opportunities Resource growth and opportunity to add to Mine Life • Continued drilling and interpretation of the deposit geology unlocking knowledge (High-grade trends & resource conversion) • New prospects and discoveries being converted into resources (Ama
Slide 17: Stage 2 PFS Growth, Regional Targets & Upside Potential
Stage 2 PFS Growth, Regional Targets & Upside Potential Amarillo Target – no resource yet High-Grade Zones within • 11m @ 8.4g/t Au from 66m (21MUAC103) existing deposits e.g. Big Sky • 7m @ 23.7g/t Au from 102m (22MORC060) Waratah Trend – no resource yet Gold nuggets and gold in quartz from RC samp
Slide 18: Scheduled Work Plan
Scheduled Work Plan Cue Gold Project Q2 2023 Q3 2023 Stage 1 Prefeasibility Study (Delivered April 2023) RC drill assays pending – Leviticus, Break of Day North + new targets Aircore drilling of new regional targets (Cue) Resource infill and extensional drilling (RC & Diamond) Mt Magnet So
Slide 19: Key Risks
Key Risks Funding risks Trading in securities of the Company may not be liquid In the future, the Company will be required to raise additional funds (whether by way of debt and/or equity), so as to, without There is no guarantee that there will be an ongoing liquid market for securities of the Compa
Slide 20: Key Risks
Key Risks Infectious disease and COVID-19 risks There can also be no assurance that the Company’s operations or those of its contractors will not be affected by labour related problems in the future, such as disputes relating to wages or requests for increased benefits. There are risks associated wi
Slide 21: Key Risks
Key Risks Third party risks Health, safety and security risks The Company, although it has no material litigation on foot, is exposed to the risks of litigation and disputes. The Company is and Mining activities have inherent hazards and risks. The Company is committed to providing a safe and health
Slide 22: JORC Gold Mineral Resources − 31 May 2022
JORC Gold Mineral Resources − 31 May 2022 Indicated Resources Inferred Resources Total Resources Notes to Table: The Mineral Resources are Tonnes Au Grade Total oz. Au Tonnes Au Grade Total oz. Au Tonnes Au Grade Total oz. Au produced in accordance with the Deposit '000s g/t '000s '000s g/t '000s '0
Slide 23: Competent Person’s Statement
Competent Person’s Statement Mineral Resources The information in this report that relates to Mineral Resources for the Break of Day, Lena, White Heat-Mosaic, Big Sky, Numbers, Leviticus, Jasper Queen, Gilt Edge, Rapier South and the Hollandaire Gold Cap deposits is based on information compiled by
Slide 24: Additional JORC information
Additional JORC information Further details relating to the information provided in this Presentation can be found in the following Musgrave Minerals’ ASX announcements: 5 May 2023, “Cue Project – Stage 1 PFS 3D Interactive Model” 2 February 2022, “Exceptional gold grades near-surface at new Mosaic
Slide 25: Additional Information
Additional Information
Slide 26: Evolution JV – Lake Austin
Evolution JV – Lake Austin Gold intercepts include: West Island • EVN Cue JV – Evolution 75%: Musgrave 25% • 4.3m @ 41.5g/t Au (21MODD025) • EVN Managing JV and • 19m @ 4.4g/t Au (22CUDD001) ongoing budget • 68m @ 1.5g/t Au (21MOAC024) • Gold targets under variable Lake Austin North thickness dune a
Slide 27: Mt Magnet South Project – Pipeline Opportunities
Mt Magnet South Project – Pipeline Opportunities • Company growth opportunity • Multiple untested targets – and very limited historical exploration − 294 km2 area • Synergies with Cue Project • Creates a long-term pipeline of opportunities • Ability to fully utilize exploration strengths and apply l
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