Cora Gold Ltd. · LSE:CORA
Cora Gold — Investor Presentation (October 2020)
27 slides from Cora Gold's investor presentation, Oct 30, 2020
Slide 1: Q4 2020 Corporate Presentation
Q4 2020 CORPORATE PRESENTATION EMERGING WEST AFRICAN GOLD DEVELOPER
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 +1,100km2 across known gold belts in Sanankoro Gold Discovery, which has Track record of discovery & depth of Mali & Senegal standalone mine potential experience in Africa FINANCING SECURED POSITIVE SCOPING STUDY US$21m Term Sheet with Lionh
Slide 4: About
ABOUT Cora’s primary focus is on developing the Sanankoro Gold Project in Southern Mali as well as continued regional exploration across +1,100km² of exploration permits in Mali and Senegal. Sanankoro’s Scoping Study STRATEGY shows an 107% IRR and US$41.5m NPV₈ at a gold price 1. Complete DFS at San
Slide 5: A Team to Deliver
A TEAM TO DELIVER Track record of discovery & development in Africa Board of Directors Ed Bowie David Pelham Paul Quirk Andrew Chubb Non- Exec Chairman NED NED NED Board Bio’s in Appendix Management Team Craig Banfield Norm Bailie Bert Monro Siaka Koumare CFO & Company Head of CEO & Director Country
Slide 6: Project Portfolio
PROJECT PORTFOLIO Portfolio of prospective gold assets across Mali & Senegal, located amongst multiple operational mines KENIEBA WINDOW, WEST MALI YANFOLILA BELT, SOUTH MALI Corporate Presentation Q4 2020 6
Slide 7: Sanankoro Project Area
SANANKORO SCOPING STUDY SANANKORO PROJECT AREA KEY FACTS Location Yanfolila Gold Belt, Southern Mali Project Area 5 contiguous permits encompassing c.388 sq. km Gold oxide mineralisation to 100m depth and Mineralisation high grade sulphide mineralisation identified at depth SRK Target Between 1-2Moz
Slide 8: Scoping Study Highlights
SANANKORO SCOPING STUDY SCOPING STUDY HIGHLIGHTS At US$1,500 Gold Price, a 1.5mtpa Heap Leach Mine delivers: (published Q1 2020) 107% Pre-production capex Internal Rate of Return (IRR) US$20.6m Avg Annual Free Cash AISC (US$/oz) Flow US$23.6m US$942 Avg Annual Production Payback period of less than
Slide 9: Scoping Study Overview
SANANKORO SCOPING STUDY SCOPING STUDY OVERVIEW 1.5 Mtpa Heap Leach US$1,500 Ore Mined (Mt) 4.2 Strip ratio (waste:ore) 5.9 Grade (g/t) 1.5 Mined gold (Oz) 197,753 Produced Gold (Oz) 138,427 Recovery (%) 70 Avg Production/year (Oz) 45,632 Avg AISC/year (US$/oz) 942 Avg Free Cash Flow/year (US$m) 23.6
Slide 10: Mineral Resource Estimate
SANANKORO SCOPING STUDY MINERAL RESOURCE ESTIMATE Completed by SRK & Announced 5 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 Mineral Resource Est
Slide 11: 2019-2020 Drill Results
SANANKORO EXPLORATION 2019-2020 DRILL RESULTS Significant scope to extend resources both at depth and along strike Two new gold discoveries at Sanakoro: • First pass shallow reconnaissance drilling at Dako II identified a new 1,500m gold zone approximately 7.5km to the south of the Zone A resource a
Slide 12: Sanankoro Timeline
SANANKORO TIMELINE Cora is focused to the next field season and continue working towards the completion of a DFS by the end of 2021 2021 Definitive Near Term Goals: 2021 Feasibility Study 2022 Resource Commence Update Construction 2021 2020 ESIA 2022 Drilling Permitting and Financing Corporate Prese
Slide 13: Sanankoro: Financing
SANANKORO FINANCING SANANKORO: FINANCING Sanankoro has been significantly de-risked with financing agreed on competitive terms • US$21m Term Sheet signed June 2020 to finance the MORE ABOUT THE CONSORTIUM development of Sanankoro The Consortium includes highly experienced and successful natural reso
Slide 14: Yanfolila Project Area
ADDITIONAL PROJECTS YANFOLILA PROJECT AREA KEY FACTS Location Yanfolila Gold Belt, Southern Mali Project Area 4 permits encompassing 450 sq. km Tekeledougou Permit • 56m @ 2.2 g/t Au • 17m @ 6.8 g/t Au Targets • 1m @ 35.7 g/t Au Tagan Permit • 43m @ 1.2 g/t Au • 25m @ 1.1 g/t Au Infrastructure 8km f
Slide 15: Kenieba Window
ADDITIONAL PROJECTS KENIEBA WINDOW KEY FACTS Location Approximately 6.5 km southwest of Anglogold-Ashanti Sadiola gold mine • 4 permits encompassing 387 sq. km within the Kenieba Window • RC drill programme commenced at Madina Foulbé Project Area • 650m completed in March/April before it was suspend
Slide 16: 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 17: 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 18: Corporate
CORPORATE AT A GLANCE: SIGNIFICANT SHAREHOLDERS Market Cap GBP £18m Quirk Family related 31.60% Share Price 9p Lord Farmer (Red Kite founder) 14.32% Hummingbird Resources 11.36% 52 Week Range 4p – 15.37p Nomad finnCap Olivier Gachoud 3.94% Joint Broker finnCap/ Turner Pope SHARE PRICE PERFORMANCE: T
Slide 19: Peer Comparisons
PEER COMPARISONS Cora is fully funded to conduct existing work programmes focussed initially at resource growth at Sanankoro Comparison with pre-resource exploration companies with projects in Africa 100 90 80 70 EV (US$m) 60 50 40 30 20 10 - Source: Turner Pope Investments,13.07.20 Corporate Presen
Slide 20: Investment Case
INVESTMENT CASE Broad portfolio of gold projects with multiple, high potential, drill ready gold targets in two world class locations Sanankoro de-risked with development financing agreed based on Scoping Study economics - 107% IRR at a US$1,500 gold price Large footprint with +1,100 sq. km land acr
Slide 21: Appendix
APPENDIX Corporate Presentation Q4 2020 21
Slide 22: Scoping Study Technical
SANANKORO SCOPING STUDY 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 with good Cons
Slide 23: Sanankoro: Exploration
APPENDIX 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 constrained Maiden I
Slide 24: 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 & atdepth Oxide starter pits identified Corporate Presentation Q4 2020 24
Slide 25: Sanankoro: Zone A
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 Corporate Presentation Q4 2020 25
Slide 26: Board
BOARD • +24 years’ experience within the wider natural resources industry • +10 years operational experience in the Republic of • started his career with SAMAX Gold in Tanzania before Congo, having worked as Country Manager of MPD going on to work in equity research & corporate Congo SA, which liste
Slide 27: Bert Monro, CEO
Bert Monro, CEO +44 (0) 20 3239 0010 [email protected] www.coragold.com @coragold Corporate Presentation Q4 2020 27