Cora Gold Ltd. · LSE:CORA
Cora Gold — Investor Presentation (March 2020)
24 slides from Cora Gold's investor presentation, March 2020
Slide 1: Cora Gold Corporate Presentation: Sanankoro Scoping Study, Q1 2020
CORA GOLD CORPORATE PRESENTATION Sanankoro Scoping Study, Q1 2020
Slide 2: Disclaimer
DISCLAIMER The information being released by the Cora Gold Limited (the "Company") today & attached to the RNS (the “Materials”) are being released to provide additional information with respect to the business of the Company. The Materials are not intended to form, & shall not be treated as, the ba
Slide 3: Snapshot
SNAPSHOT LARGE FOOTPRINT SIGNIFICANT DISCOVERY PROVEN TEAM 1,200km2 across known gold belts in Sanankoro Gold Discovery which has Track record of discovery & depth of Mali & Senegal standalone mine potential experience in Africa IMPRESSIVE REGISTER COMPARATIVELY UNDERVALUED Supportive, high calibre
Slide 4: A Team to Deliver
A TEAM TO DELIVER Track record of discovery & development in Africa Ed Bowie, Chairman David Pelham, Non-Executive Director • +23 years’ experience within the wider natural resources industry • A mineral geologist with +35 years global exploration experience • started his career with SAMAX Gold in T
Slide 5: Project Portfolio; located amongst multiple operational mines
PROJECT PORTFOLIO; located amongst multiple operational mines Portfolio of prospective gold assets across Mali & Senegal KENIEBA WINDOW, WEST MALI YANFOLILA BELT, SOUTH MALI Scoping Study Q1 2020 4
Slide 6: Sanankoro Project Area
SANANKORO SCOPING STUDY SANANKORO PROJECT AREA KEY FACTS Location Yanfolila Gold Belt, Southern Mali Project Area 5 contiguous permits encompassing c.341 sq km Extensive work by Randgold Resources & Gold Fields mid- Previous Work 2000s & 2012 15km long mineralised structure with gold oxide Mineralis
Slide 7: Scoping Study Highlights
SANANKORO SCOPING STUDY SCOPING STUDY HIGHLIGHTS At US$1,400 Gold Price, a 1.5mtpa Heap Leach Mine delivers: 84% Pre-production capex Internal Rate of Return (IRR) US$20.6m Avg Annual Free Cash AISC (US$/oz) Flow US$19.3m US$942 Avg Annual Production Payback period of less than 18 45,632 ozs months
Slide 8: Scoping Study Overview
SANANKORO SCOPING STUDY SCOPING STUDY OVERVIEW Heap Leach 1.5Mtpa (US$1,400) Ore Mined (Mt) 4.2 Strip ratio (waste:ore) 5.9 Grade (g/t) 1.5 Mined gold (Ozs) 197,753 Produced Gold (Ozs) 138,427 Recovery (%) 70 Avg Production/year (Ozs) 45,632 Avg AISC/year (US$/oz) 942 Avg Free Cash Flow/year (US$m)
Slide 9: Sanankoro Scoping Study: Technical
SANANKORO SCOPING STUDY SANANKORO SCOPING STUDY: TECHNICAL MINING PROCESSING Heap leach favoured over CIL in trade off due to reduced • Predominantly free digging oxides capex • Limited drill & blast will be required • Would be reviewed with resource growth 1.5Mtpa favoured as optimum plant size wit
Slide 10: Mineral Resource Estimate
SANANKORO SCOPING STUDY MINERAL RESOURCE ESTIMATE MRE was completed by SRK & was announced 5th December 2019 • Maiden Resource on the Project • Focus on Oxides • Less than 25% of the 40 linear km mineralisation drilled to date • SRK defined exploration target of 1-2Moz gold to a depth of 100m Minera
Slide 11: Sanankoro Exploration: 14km Strike Length
SANANKORO EXPLORATION SANANKORO EXPLORATION 2019 defined maiden resources on what the Company believes are only ‘starter pits’. Q4 2019 & Q1 2020 drilling ongoing to test extension & parallel mineralised structures to known resources Results confirm continuous oxide gold mineralisation of potentiall
Slide 12: Sanankoro: Selin
SANANKORO EXPLORATION SANANKORO: SELIN Presence of oxide gold mineralisation of potentially economic grades & widths confirmed across prospect Over 3km of known strike & open in both directions & at depth Oxide starter pits identified Scoping Study Q1 2020 11
Slide 13: Yanfolila Project Area
ADDITIONAL PROJECTS YANFOLILA PROJECT AREA KEY FACTS Location Yanfolila Gold Belt, Southern Mali Project Area Six permits encompassing 450 sq km Focus primarily on the Kouroudian & Woyoni prospects Targets within the Tekeledougou Permit • 56m @ 2.2 g/t Au Tekeledougou • 17m @ 6.8 g/t Au Drill Result
Slide 14: Kenieba Window
ADDITIONAL PROJECTS KENIEBA WINDOW KEY FACTS c.6.5 km southwest of Anglogold-Ashanti Sadiola gold Location mine • Four permits encompassing 387 sq km within the Project Area Kenieba Window • 2 contigious permits in western Mali • 3m @ 41.2 g/t Au Historical • 3m @ 7.9 g/t Au Results • 6m @ 2.5 g/t A
Slide 15: Mali & Senegal
ADDITIONAL PROJECTS MALI & SENEGAL AT A GLANCE KEY FACTS World class gold regions in West Africa • The Yanfolila Gold Belt (south Mali) • The Kedougou-Kenieba Inlier gold belt (known as the ‘Kenieba • Established, transparent, & reliable mining Window’) (west Mali/east Senegal) codes • Favourable to
Slide 16: Community Development
COMMUNITY DEVELOPMENT Sanankoro Project Area: Cora works with local communities, contributing to their development by creating aid strategies including: Establishing a kitchen garden creating fresh produce for sale & consumption Providing equipment for a health centre & cleaning equipment for the vi
Slide 17: Corporate
CORPORATE AT A GLANCE: SIGNIFICANT SHAREHOLDERS Market Cap GBP £6.05 million Hummingbird Resources (plus subsidiary 18.00% Share Price 4.99 (25.03.20) company) 52 Week Range 2.7p – 10p Lord Farmer (Red Kite founder) 13.16% SP Angel Corporate Key Ventures* 9.14% Nomad Finance LLP Brookstone Business*
Slide 18: Peer Comparisons
PEER COMPARISONS Significantly undervalued in comparison to peers 450 90 Capex, 390 IRR, 84 400 80 350 Capex, 328 70 300 IRR, 62 60 125.6 103.6 MCap, 263 IRR, 55 250 50 US$m Capex, 216 % Capex, 186 IRR, 44 263.3 97 200 40 IRR, 33 150 MCap, 126 30 80 MCap, 97 IRR, 24 100 20 70 Capex, 45 Capex, 23 10
Slide 19: Investment Case
INVESTMENT CASE Broad portfolio of gold projects with multiple, high potential, drill ready gold targets in two world class locations Sanankoro Scoping Study: 84% IRR at a US$1,400 Gold Price Large footprint with >1,400 sq km land across known gold belts and several tens of kilometres of structure l
Slide 20: Appendix
APPENDIX
Slide 21: Sanankoro Exploration
SANANKORO EXPLORATION SANANKORO EXPLORATION Identified multiple gold zones & significant confidence in future trajectory of the project • Extensive work programmes completed on time & within budget • Focus on the deep oxide ore potential with the sulphide potential barely touched upon • Pit constrai
Slide 22: Sanankoro – 2019 Work Programme
APPENDIX SANANKORO – 2019 WORK PROGRAMME 46m at 4.48 g/t Au from 49m 17m at 5.10 g/t Au from 37m 48m at 1.91 g/t Au from 17m Metallurgical Test Results Selin • 2.25-km-long mineralised structure with new oxide gold zone Coarse ore gold recoveries of up to 97%, are achievable through recently discove
Slide 23: Sanankoro: Zone A, 650m Strike Length
APPENDIX SANANKORO: ZONE A 650m STRIKE LENGTH Drilling indicated continuation of broad zones of shallow, higher-grade mineralisation Results to be used to identify higher grade potential starter pits for future development Scoping Study Q1 2020 22
Slide 24: Bert Monro, CEO – Contact
Bert Monro, CEO +44 (0) 20 3239 0010 [email protected] www.coragold.com @coragold Scoping Study Q1 2020 23