Denarius Metals Corp. · NEO:DMET
Denarius Metals — Investor Presentation (February 2024)
39 slides from Denarius Metals's investor presentation, February 2024
Slide 1: An Emerging Metals Producer in Spain & Colombia
An Emerging Metals Producer in Spain & Colombia The strategic acquisition of the 5,000 tpd Rio Narcea processing plant and the Aguablanca underground mine, Spain’s Corporate Presentation - February 2024 only nickel producer, will also accelerate production at our Lomero Project. TSXV: DSLV | OTCQX:
Slide 2: Cautionary Notes
Cautionary Notes Forward Looking Statements This presentation contains statements that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Any statements that express or involve discussions with respe
Slide 3: Emerging Metals Producer in Spain and Colombia
Emerging Metals Producer in Spain and Colombia Processing Plant at Aguablanca In-Demand Critical Minerals Cu, Zn, Pb, Ni, Au, Ag, Co, Pt, Pd Favorable Proximity The Right Jurisdictions; Proximal to Nearby Producers High-Grade Projects Rich History; Exploration Upside Seasoned Team A Proven Track Rec
Slide 4: Our Projects
Our Projects Aguablanca Project Lomero Project Ni, Cu, Co, Pt, Pd, Au Cu, Zn, Pb, Au, Ag ~88km from Lomero, accelerating the path to Southern Spain’s Iberian Pyrite Belt, the production with capacity at its 5,000 tpd largest concentration of massive sulfides in Rio Narcea processing plant. the world
Slide 5: Company Overview and Capital Structure
Company Overview Capital Structure Exercise Price Number Expiry Per Share Management Common shares 63,168,030 Serafino Iacono Executive Chairman & CEO Shares issuable for: Michael Davies Chief Financial Officer Listed warrants (DSLV.WT) (1) 7,580,370 2026 CA$8.00 Alessandro Cecchi Vice President, Ex
Slide 6: Poised for Re-Rating
Poised for Re-Rating Emerita Pan Global Denarius QC Copper Orvana Company Kutcho Ascendant We are reiterating our BUY rating, and adjusting our fair value estimate from C$0.88/share to C$0.99/share (the average of our valuations). We anticipate a series of upcoming catalysts including a Canadian Cop
Slide 7: Spain: A Historic, Prolific and Supportive Mining Jurisdiction
Spain 250km A Historic, Prolific and Supportive Mining Jurisdiction 800km Spain has a rich history of mining, with evidence of mining activity dating back to Madrid pre-roman times. The Iberian Pyrite Belt has been mined for more than 5,000 years On March 16, 2023, the EU unveiled its The Spanish mi
Slide 8: In-Demand Critical Minerals
In-Demand Critical Minerals Copper Zinc Lead World’s third most-used metal. Used to galvanise other metals to Uses prevent rusting (car bodies, street posts, Demand for lead is primarily Building construction, electronic safety barriers and suspension bridges). driven by lead-acid batteries vehicles
Slide 9: Proximity to Nearby Producers and Projects
Proximity to AGUABLANCA Nearby Producers and Projects Approximate distance from Lomero to: Aguablanca Project and 5,000 tpd Plant 88 km Lundin Mining - Neves-Corvo 136 km Sandfire Matsa - Aguas Tenidas 10 km Atalaya Mining - Rio Tinto 46 km First Quantum - Las Cruces 110 km Huelva Port 100 km Sevill
Slide 10: Aguablanca Project Highlights
Extremadura, Spain 50% Owned through Alto Minerals S.L.U. Aguablanca Ni Cu Co Pt Pd Au Project Highlights Historic Producer with Turnkey Processing Plant Discovered in 1994, the Aguablanca Mine is one of the only deposits in Spain Glencore Zinc Smelter 250km able to produce nickel (sole producer) an
Slide 11: Aguablanca Project - A Rich History
Aguablanca Project - A Rich History 1994 Discovery of the Ni-Cu deposit in Aguablanca 1996 Atlantic Copper acquires rights to exploit the Deposit 2001 Rio Narcea Recursos S.A. acquires rights to exploit the Deposit 2003 Environmental Impact Statement (EIS) received by the authorities. Beginning of p
Slide 12: Aguablanca Project - Deal Terms
Aguablanca Project - Accelerating our Path to Production in Spain • Agreement with RNR Shareholder Group to acquire 50% of Rio Narcea Recursos, S.L. (“RNR”) in an arms-length transaction. • Acquisition price is EUR 25 million (~US$27 million), payable in cash. • EUR 2.5 million was paid on signing o
Slide 13: Aguablanca Project - Key Investment Highlights
Aguablanca Project - Key Investment Highlights Aguablanca mine is the unique nickel mine in Spain. Nickel and copper have been classified as critical raw materials for the European Union as these metals are considered key for the energy transition. Solid financial partner committed to investing in t
Slide 14: Corporate Presentation | February 2024 www.denariusmetals.com TSXV: DSLV | OTCQX: DNRSF 14
Corporate Presentation | February 2024 www.denariusmetals.com TSXV: DSLV | OTCQX: DNRSF 14
Slide 15: Lomero Project Highlights
Iberian Pyrite Belt, Spain 100% Owned through Alto Minerals S.L.U. Lomero Cu Zn Pb Au Ag Project Highlights Located in a World Class Mining District The Iberian Pyrite Belt is the largest concentration of massive sulfides in 250km Glencore Zinc Smelter ToralProject Project the world. Toral The Lomer
Slide 16: Lomero Project - A Rich History
Lomero Project - A Rich History Exploration Production Mining commenced in the late 1850’s and continued until 1990 Billiton 1984 Conducted a program of 60 underground diamond drilling holes A small amount of ore came from the two pits at Lomero (east) and Poyatos (west), but most of the historical
Slide 17: Lomero Project
Palomarejo Lomero-Poyatos • 151 hectares area adjacent to and on strike with the mineralized • 454 hectares Lomero-Poyatos deposit • 100% held by Alto Minerals S.L.U., a subsidiary of Denarius Metals • 100% held by Alto Minerals S.L.U. • Rubia Investigation Permit No 14,977…extended in early 2023 fo
Slide 18: Denarius Metals - Exploration Summary
Denarius Metals - Exploration Summary Phase 1 Phase 2 Phase 3 Completed July 2022 Completed February 2023 Completed July 2023 Surface validation and in-fill drilling Surface validation and in-fill drilling Surface validation and in-fill drilling 26,000 meters 13,225 meters 4,760 meters 83 diamond dr
Slide 19: Lomero Project - Mineral Resource Estimate
Lomero Project - Mineral Resource Estimate Denarius Metals prepared an updated NI 43-101compliant MRE(1) for the Lomero Project effective July 31, 2023 Category Tonnes Gold Gold Metal Silver Silver Metal Copper Copper Zinc Zinc Metal Lead Lead Metal CuEq Grade Content Grade Content Grade Metal Grade
Slide 20: Lomero Project Exploration Program Next Steps
Lomero Project LEGEND Exploration Program Next Steps DENARIUS Drilling Previous Drilling This year, we will commence a 6,000 m greenfield exploration drill program targeting the Las Merinas and Alianza areas with the objective of increasing the tonnage in the next MRE update. These areas, located to
Slide 21: Lomero Project - Greenfield Exploration Target Areas
Lomero Project - Greenfield Exploration Target Areas LOOKING NORTH WEST LIMIT RUBIA I.P. POYATOS - LAS MERINAS TARGET AREA 650 m ALIANZA TARGET AREA 1,300 m LOMERO-POYATOS DEEP TARGET AREA Corporate Presentation | February 2024 www.denariusmetals.com TSXV: DSLV | OTCQX: DNRSF 21
Slide 22: Toral Project Highlights
Leon Province, Spain Option Agreement to Acquire up to 80% Toral Zn Pb Ag Project Highlights Located in a Well-Mineralized Historic Mining Area and Proactive Jurisdiction Represents a unique opportunity to develop a high-quality base metal project in Glencore Zinc Smelter 250km the heart of western
Slide 23: Toral Project - Exploration History
Toral Project - Exploration History…Over 60,000 m Drilled 1972 Peñarroya-Adaro to 1984 80 holes and 40 deviations (~45,000 m) drilling 1992 Geominera to Re-evaluation 1995 2005 Lundin Mining to 2008 7 holes (4,700 m) 2009 Goldquest Mining to Soil and rock geochemistry, old labors mapping, 2011 re-ev
Slide 24: Toral Project - Mineral Resource Estimate
Toral Project - Mineral Resource Estimate Europa Metals published (1) an updated JORC 2012 compliant MRE(2) for the Toral Project in November 2022 Europa Metals’ successful 2022 drilling campaign led to a 19% increase in the Indicated MRE and a 14% increase in overall grade. A total of 61,545 m of d
Slide 25: Toral Project - 2023 Exploration Program
Toral Project - 2023 Exploration Program The 2023 drilling campaign, comprised of 9 holes for a total of approximately 6,200 m, and represented a combination of confirmatory drilling followed by a series of in-fill drillholes designed to corroborate the existing Indicated MRE. The Company is current
Slide 26: Toral Project Next Steps
Toral Project…Next Steps A formal application for a mining license for the Toral Project was completed and submitted in October 2023 to the Junta of C astille and Leon, the local mining authority. The Company and Europa are preparing an updated MRE and designing the 2024 drilling program to support
Slide 27: Zancudo Project Highlights
Zancudo Cauca Belt, Colombia 100% Owned Project Au Ag Zn Pb Highlights Located in a Historic Mining District Municipality of Titiribí, Department of Antioquia, ~30 km SW of Medellin. Mining of high-grade gold-silver-quartz veins was carried out in the Zancudo district from 1793 to 1948 with an estim
Slide 28: Zancudo Project - A Rich History
Zancudo Project - A Rich History Gold first discovered in the Zancudo district. Mining has been carried 1746 out since 1793 in 58 mines. The Sociedad del Zancudo mining company was created. Regarded 1848 as one of Colombia’s most important companies of the 19th century, it operated until 1948. First
Slide 29: Zancudo Project - Location
Zancudo Project - Location The Zancudo Project comprises: • three adjoining mining concession contracts (HDWA-02, H5911005 and C5521011) and one exploration license (HEOM-12); • a total area of 1,054 hectares; and • is located about 30 km SW, about a 1.5 hour drive by paved road, from Medellin. Lice
Slide 30: Zancudo Project – La Independencia Mine, A Former Producer
Zancudo Project – La Independencia Mine, A Former Producer AuEq – October 2023 MRE (1) (1) Refer to Page 12 for details Corporate Presentation | February 2024 www.denariusmetals.com TSXV: DSLV | OTCQX: DNRSF 30
Slide 31: Zancudo Project - Mineral Resource Estimate of 1,060,000 AuEq Ounces
Zancudo Project - Mineral Resource Estimate of 1,060,000 AuEq Ounces The following table(1) summarizes the Inferred Mineral Resource estimate (“MRE”) for the Zancudo Project effective as at October 24, 2023: Grade Material Content Tonnes Category Au Ag AuEq Au Ag AuEq (kt) (g/t) (g/t) (g/t) (koz) (k
Slide 32: Zancudo Project - Preliminary Economic Assessment
Zancudo Project - Preliminary Economic Assessment (1) “ Key Economic Parameters of the PEA effective as at October 24, 2023: Assumption / Results 2023 PEA Total tonnes processed over the LOM 3,463,000 The PEA affirms the robust economic viability of our Total waste mined over the LOM Gold grade mine
Slide 33: Zancudo Project - Preliminary Economic Assessment
Zancudo Project - Preliminary Economic Assessment (1) Capital Costs (Table 2) Operating Costs (Table 3) Costs Life-of-Mine Per Oz Au Initial Capital Costs Operating Costs (US$) (US$M) (US$) Mine access rehabilitation (initial work excluded from mine contractor Mining 435.1 756 29,000 responsibility)
Slide 34: Zancudo Project… Path to Near-Term Production
Zancudo Project… Path to Near-Term Production • Local contract miner engaged • Permitting nearing completion to start mining/crushing • By-pass road construction near completion • Surplus/old equipment removed from plant site • Crushing equipment installed at the plant site • Mine plan finalized wit
Slide 35: Zancudo Project - Advancing Toward Production in 2024
Zancudo Project - Advancing Toward Production in 2024 Mine Plant Infrastructure The local mine contractor was engaged in 2023 and has been Constructing an ~3.7 km access road connecting the Project New crushing equipment has been installed. Concentrate plant preparing the existing mine to commence o
Slide 36: Zancudo Project - Significant Exploration Upside
Zancudo Project - Significant Exploration Upside Mineralization occurs in stacked mantos and steeply dipping veins that have been exploited over a strike length of 3,500 m. The average vein width is 0.35 m with a maximum width of 3.0 m. The known vertical extent of mineralization is 400 m. N As a ne
Slide 37: Sustainability
Sustainability Some initiatives to date include… Mining for the Future Spain - Lomero Completed drilling/exploration courses, in collaboration with local authorities and Explomin, aimed Denarius Metals’ board and management team have a long history of at improving local employability positively impa
Slide 38: Why Invest
In-Demand Favourable Proximity High Grades Critical Metals We are focused on in demand metals We are in the right jurisdictions We have quality high-grade projects Why Invest Rich History Proven Team There’s rich history where our projects are located We have the right team that knows how to unlock
Slide 39: Contact Us
METALS Michael Davies Chief Financial Officer Melissa Mackie Manager, Investor Relations +1 (416) 360-4653 [email protected] www.denariusmetals.com DenariusMetals Contact Us Denarius-Metals-Corp Denarius-Metals DenariusMetals DenariusMetals TSXV: DSLV | OTCQX: DNRSF Corporate Presentation
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