Tietto Minerals — Investor Presentation (April 2021)
34 slides from Tietto Minerals's investor presentation, April 2021
Slide 1: Abujar: West Africa's Next Gold Mine
ABUJAR: WEST AFRICA’S NEXT GOLD MINE April 2021 ASX:TIE
Slide 2: Disclaimer
DISCLAIMER This presentation prepared by Tietto Minerals Limited (“Company”) does not Company. No representation or warranty, express or implied, is made by the consents to the inclusion of the estimates in the report of the Mineral Resource in purport to contain all the information that a prospecti
Slide 3: Disclaimer
DISCLAIMER Production Targets Cautionary Statement Approximately 57% of ounces making up the Expanded Project production targets are Probable Mineral Reserves from the AG open Pit, 17% of ounces within the AG Open Pit are Inferred Mineral The Production Target and forecast financial information deri
Slide 4: Abujar – On Track to Be West Africa's Next Gold Mine
ABUJAR – ON TRACK TO BE WEST AFRICA’S NEXT GOLD MINE Abujar Gold Project open pit 3.5Mtpa CIL Pre-Feasibility ➢ Robust PFS economics support substantial debt funding element to the funding mix for Abujar, and discussions continue with potential project Study (PFS) demonstrates: financiers ➢ Forecast
Slide 5: Corporate Snapshot
CORPORATE SNAPSHOT CAPITAL STRUCTURE (ASX:TIE) A$0.345 454M A$156M A$52M A$104M Share price (1 April 21) Shares on issue Market Capitalisation Cash (Mar 31 unaudited) Enterprise Value SHAREHOLDERS SHARE PRICE MOVEMENT 80 7.00 Other Hongkong Ausino 18.3% 70 6.00 Investment 9.8% 60 5.00 Directors 50 4
Slide 6: Directors and Research
DIRECTORS AND RESEARCH DIRECTORS RESEARCH FRANCIS DR CAIGEN CANACCORD HARPER WANG Paul Howard Non-Executive Managing Chairman Director and Founder EUROZ HARTLEYS DR PAUL MARK Mike Millikan KITTO STRIZEK Technical Executive FOSTER Director Director Mark Fichera HANJING XU Non-Executive Director 6
Slide 7: Unlocking Côte d'Ivoire's Gold
UNLOCKING CÔTE D’IVOIRE’S GOLD Increasing Gold 32.6t of gold produced Production from 5 mines in 2019 Stable, vastly under- explored Hosts West Africa’s largest Extensive mining share of greenstone belts for Greenstone Belts prospective gold (~ 34%) jurisdiction Strong Government Tenements granted f
Slide 8: Abujar Gold Project
ABUJAR GOLD PROJECT ➢ 3 contiguous tenements totalling 1,114km2 ➢ Middle tenement hosts JORC Resource of 81.2Mt at 1.2g/t Au for 3.02Moz ➢ High-grade core of 1.6Moz at 2.18 g/t Au at AG deposit ➢ JORC 2012 Resource contained within 3 deposits: ➢ AG – 49.6Mt at 1.5 g/t Au for 2.30Moz: • 24.1Mt at 1.6
Slide 9: AG Deposit
AG DEPOSIT ➢ Robust high-grade core of 1.6Moz at 2.18 g/t Au at AG ➢ Notable results include: • 7m @ 57.79 g/t Au from 76m • 7m @ 41.76 g/t Au from 55m • 21m @ 13.02 g/t Au from 215m • 16m @ 16.31 g/t Au from 111m • 2m @ 113.3 g/t Au from 83m • 18m @ 11.72 g/t Au from 39m • 6m @ 9.35g/t Au from 317m
Slide 10: APG Deposit
APG DEPOSIT Satellite mining opportunity ➢ Inferred JORC 2012 Mineral Resource of 31.0Mt at 0.7 g/t Au for 0.70Moz ➢ Gold mineralisation intersected over a 5km strike ➢ Drilling has defined a wide mineralised gold system ➢ Recent results include: • 9m @ 2.32g/t Au from 160m incl. 4.92m @ 3.80g/t Au
Slide 11: Using Our Own Drill Rigs to Rapidly Grow Abujar Resources
USING OUR OWN DRILL RIGS TO RAPIDLY GROW ABUJAR RESOURCES Direct diamond drilling cost - completed and planned 3.02Moz US$20m Average cost US$18m to ASX explorer Average cost 2.15Moz US$16m to ASX explorer US$14m 1.70Moz US$12m US$10m US$8m 0.70Moz US$6m Tietto cost US$4m Tietto cost US$2m Jan 2018
Slide 12: Abujar Pre-Feasibility Study Team
ABUJAR PRE-FEASIBILITY STUDY TEAM The AG Open Pit CIL Pre-Feasibility Study commenced in July 2020 and included the following key consultants: ➢ ALS - Metallurgical Test Work ➢ Daniel and Morrell Comminution Consulting Pty Ltd - Comminution Modelling ➢ Dempers & Seymour - Geotechnical Assessment of
Slide 13: Abujar Pre-Feasibility Study
ABUJAR PRE-FEASIBILITY STUDY Conventional open pit mining at AG: ➢ Life-of-mine (“LOM”) schedule targets 3.5 Mtpa crusher feed. The production strategy involved accelerated mining and up to 9 months of pre-strip (will be reviewed in DFS) ➢ Up to 40 Mtpa total material movement selectively feeding hi
Slide 14: Abujar Pre-Feasibility Study
ABUJAR PRE-FEASIBILITY STUDY Mineable quantities reported below include Inferred Resources and do not constitute an “Ore Reserve” as estimated in accordance with the JORC Code. An Inferred Mineral Resource has a lower level of Abujar Gold Project Ore Reserves have been declared as a Probable Ore con
Slide 15: Abujar Pre-Feasibility Study
ABUJAR PRE-FEASIBILITY STUDY Stand alone open pit and CIL process plant development: ➢ 3.5Mtpa milling capacity ➢ Simple flowsheet - single stage crushing then SAG Mill with gravity and CIL for gold recovery (96% assumed in study) ➢ Stage 1 tailings capacity of 30Mt (TSF) ➢ Water diversion channel a
Slide 16: Excellent Metallurgy
EXCELLENT METALLURGY Other Process Material AG Deposit(1) ➢ AG met sample program confirms very high Projects(2) gold recoveries and low-cost processing Oxide 64.4% 5% - 30% Gravity Trans 82.6% 15% - 40% ➢ Excellent gold recoveries at coarse grind Fresh 83.6% 38% sizes - 96% (180 µm) to 98% (106 µm)
Slide 17: Capital & Operating Cost Estimate
CAPITAL & OPERATING COST ESTIMATE* ➢ Capital cost estimate is based upon an EPCM Capital Cost - Development Subtotal (US$) Contingency (US$) Grand Total (US$) 3.5Mtpa Process Plant $76.7M $11.9M $88.6M approach Infrastructure (TSF, Plant Vehicles, Mobile ➢ Operating cost estimate has been prepared E
Slide 18: Abujar AG Open Pit PFS - Production and Financial Highlights
ABUJAR AG OPEN PIT PFS - PRODUCTION AND FINANCIAL HIGHLIGHTS* Base case is stated on a 100% basis and an average gold price of $1,506/oz (all amounts in US$) Various Gold Price (pre-tax) 1200 1300 1506 1700 1900 Average Production Y1-3 182,000oz/yr Net present value (NPV (5%)) $122 M $202 M $363 M $
Slide 19: Expanded Project APG
EXPANDED PROJECT APG Substantial upside to the PFS base case has been demonstrated by scoping study assessments of APG open pit and AG underground mine: ➢ Expanded Project has potential to deliver increases in NPV, gold production and mine life with gold production growing to 1,436,000 ounces of gol
Slide 20: Expanded Project AG OP PFS, Scoping Study APG OP & AG UG
EXPANDED PROJECT AG OP PFS, SCOPING STUDY APG OP & AG UG* Expanded Project stated on a 100% basis and an average gold price of $1,491/oz (all amounts in US$) Various Gold Price (pre-tax) 1200 1300 1491 1700 1900 Average Production Y1-3 182,000oz/yr Net present value (NPV (5%)) $141 M $242 M $432 M $
Slide 21: Infill Drilling Targeting Inferred Mineralisation - AG & APG
INFILL DRILLING TARGETING INFERRED MINERALISATION - AG & APG ➢ Targeting Inferred Mineral Resources at AG and APG ➢ Infill drill program planned to finish end of April 2021. Drilling will feed into Resource model update due end May 2021 New drilling ➢ Updated Resource model will be used in DFS to op
Slide 22: Pipeline of Prospects
PIPELINE OF PROSPECTS ➢ Aggressive drilling programs designed to drive continued resource growth throughout 2021 ➢ Tietto’s fleet of diamond rigs deliver rapid resource growth with some of the gold sectors lowest costs Tenement Resource Definition Target Testing Target Definition Reconnaissance Midd
Slide 23: APG Heap Leach – Potential to Add Ounces to Production Profile
APG HEAP LEACH – POTENTIAL TO ADD OUNCES TO PRODUCTION PROFILE* ➢ Four 10-kilogram closed cycle column leach tests conducted on two transitional and two fresh composite samples from APG ➢ Samples crushed to 14mm and loaded into 150mm by 1.5-meter-tall PVC columns for 120 days ➢ Excellent recoveries
Slide 24: The Right Team to Build Abujar
THE RIGHT TEAM TO BUILD ABUJAR ➢ Matt Wilcox, our Chief Operating Officer is tasked with managing the team building our first gold mine at Abujar ➢ Mr Wilcox most recently was responsible for the development of West African’s (ASX: WAF) 2.6Mtpa Sanbrado Gold Mine, which was completed in March 2020,
Slide 25: Current Development Timetable
CURRENT DEVELOPMENT TIMETABLE* 2021 2022 2023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Mining and environmental permits approved √ PFS completed √ Further resource / reserve and definition drilling Publish DFS results Award of FEED and Order Mill Package Detailed design and commencement of early works Pr
Slide 26: Tietto – On Track to Be West Africa's Next Gold Miner
TIETTO – ON TRACK TO BE WEST AFRICA’S NEXT GOLD MINER Tietto’s Board believes that there are reasonable grounds to assume that Tietto will proceed to complete a Definitive Feasibility Study (DFS) which is future funding will be available for the ongoing development of the Project, as fully funded an
Slide 27: Emerging West African Gold Developer
EMERGING WEST AFRICAN GOLD DEVELOPER Growing 3.02Moz high-grade Aggressive drilling to drive continued Funded for 2021 work program, open pit gold resource resource growth throughout 2021 strong shareholder base Large scale DFS underway Continuous news-flow open pit opportunity optimise mine and mil
Slide 28: Contact Us
CONTACT US: Tietto Minerals +61 8 9331 6710 +61 428738385 +61 431084305 [email protected] www.tietto.com
Slide 29: Appendix A: Abujar Gold Project - JORC Resources
APPENDIX A Abujar Gold Project - JORC Resources Mineral Resource Estimates - RPM Global (October 2020)* Oxide Transition Fresh Total Area Class Quantity Au Quantity Au Quantity Au Quantity Au Au (g/t) Au (g/t) Au (g/t) Au (g/t) (Mt) (Moz) (Mt) (Moz) (Mt) (Moz) (Mt) (Moz) Indicated 0.2 1.3 0.006 0.7
Slide 30: Appendix A: Abujar Gold Project - JORC Resources by Cut-off
APPENDIX A Abujar Gold Project - JORC Resources Mineral Resources by cut-off RPM Global (October 2020)* AG Indicated AG Inferred AG Total APG Inferred Combined Total COG Quantity Au Quantity Au Quantity Au Quantity Au Quantity Au Au (g/t) Au (g/t) Au (g/t) Au (g/t) Au (g/t) (Mt) (Moz) (Mt) (Moz) (Mt
Slide 31: Appendix B: AG Oblique Long Section
APPENDIX B: AG Oblique Long Section 31
Slide 32: Appendix C: Regional Permits
APPENDIX C: REGIONAL PERMITS Highly prospective – Significant land package • Boundiali Group (North Côte d’Ivoire) ✓ Within 20Moz+ Au province • Bongouanou (South-East Côte d’Ivoire) ✓ Underexplored province ✓ Fully granted permits ✓ Reconnaissance geochemical survey planned • Sinfra (Central Côte d
Slide 33: Appendix D: Abujar AG Open Pit PFS Highlights (A$)
APPENDIX D: AUD = US$0.76 ABUJAR AG OPEN PIT PFS - PRODUCTION AND FINANCIAL HIGHLIGHTS* Various Gold Price (pre-tax) 1579 1711 1982 2237 Base case is stated on a 100% basis and an average gold price of $1,982/oz (all amounts in A$) 2500 Average Production Y1-3 182,000oz/yr Net present value (NPV (5%
Slide 34: Appendix D: Expanded Project AG OP PFS, Scoping Study (A$)
APPENDIX D: AUD = US$0.76 EXPANDED PROJECT AG OP PFS, SCOPING STUDY APG OP & AG UG* Various Gold Price (pre-tax) 1579 1711 1962 2237 2500 Expanded Project stated on a 100% basis and an average gold price of $1,962/oz (all amounts in A$) Average Production Y1-3 182,000oz/yr Net present value (NPV (5%