Cora Gold Ltd. · LSE:CORA
Cora Gold — Investor Presentation (July 2020)
24 slides from Cora Gold's investor presentation, July 2020
Slide 1: Q3 2020 Corporate Presentation
Q3 2020 CORPORATE PRESENTATION EMERGING WEST AFRICAN GOLD DEVELOPER 1
Slide 2: Disclaimer
DISCLAIMER This presentation is issued by Cora Gold Limited (the "Company") to provide updated and additional information with respect to the business of the Company (the "Materials"). The Materials are not intended to form, & shall not be treated as, the basis of any investment decision or any deci
Slide 3: Snapshot
SNAPSHOT LARGE FOOTPRINT SIGNIFICANT DISCOVERY PROVEN TEAM +1,100km2 across known gold belts Sanankoro Gold Discovery, which Track record of discovery & depth in Mali & Senegal has standalone mine potential of experience in Africa IMPRESSIVE REGISTER POSITIVE SCOPING STUDY Supportive, high calibre s
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 • +24 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
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 Q3 2020 4
Slide 6: Sanankoro Project Area
SANANKORO SCOPING STUDY SANANKORO PROJECT AREA KEY FACTS Location Yanfolila Gold Belt, Southern Mali Project Area 6 contiguous permits encompassing c.438.87 sq. km Gold oxide mineralisation to 100m depth and Mineralisation high grade sulphide mineralisation identified at depth SRK Target Between 1-2
Slide 7: Scoping Study Highlights
SANANKORO SCOPING STUDY SCOPING STUDY HIGHLIGHTS At US$1,400 Gold Price, a 1.5mtpa Heap Leach Mine delivers: (published Q1 2020) 84% Pre-production capex Internal Rate of US$20.6m Return (IRR) Avg Annual Free Cash AISC (US$/oz) Flow US$19.3m US$942 Avg Annual Production Payback period of less than 1
Slide 8: Scoping Study Overview
SANANKORO SCOPING STUDY SCOPING STUDY OVERVIEW 1.5 Mtpa Heap Leach 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) 1
Slide 9: Scoping Study Technical
SANANKORO SCOPING STUDY SCOPING STUDY TECHNICAL MINING PROCESSING • Predominantly free digging oxides Heap leach favoured over CIL in trade off due to reduced capex • Limited drill & blast will be required • Would be reviewed with resource growth 1.5Mtpa favoured as optimum plant size with good ounc
Slide 10: Mineral Resource Estimate
SANANKORO SCOPING STUDY MINERAL RESOURCE ESTIMATE Completed by SRK & Announced 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 Estim
Slide 11: 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 • US$6m Equity Financin
Slide 12: 2019-2020 Drill Results
SANANKORO EXPLORATION 2019-2020 DRILL RESULTS Significant scope to extend resources both at depth and along strike Results confirm continuous oxide gold mineralisation of potentially economic grades & widths HIGHLIGHTS of Recent Drill Campaigns: Zone A Selin Zone B 8m @ 3.17 g/t Au from 69m 46m @ 4.
Slide 13: 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 Corporate Presentation Q3 2020 11
Slide 14: Yanfolila Project Area
ADDITIONAL PROJECTS YANFOLILA PROJECT AREA KEY FACTS Location Yanfolila Gold Belt, Southern Mali Project Area 5 permits encompassing 387.68 sq. km Tekeledougou Permit • 56m @ 2.2 g/t Au • 17m @ 6.8 g/t Au • 1m @ 35.7 g/t Au Targets Tagan – Completed 1,600m RAB drilling programme 2020 • +800m potenti
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 328 sq. km within the Kenieba Window • 3 contiguous permits in western Mali • 2 principal targets where grab samples have returned gold values incl. 1
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 £17.34 million (as of 13.07.20) Brookstone Business** 27.85% Share Price 9.10p (13.07.20) Lord Farmer (Red Kite founder) 13.46% 52 Week Range 4p – 9.38p Hummingbird Resources (plus 12.25% subsidiary company) Nomad SP Angel Corporate Fina
Slide 19: Peer Comparisons
PEER COMPARISONS Significantly undervalued in comparison to peers Comparison with pre-resource exploration companies with projects in Africa Source: Turner Pope Investments, 13.07.20 Corporate Presentation Q3 2020 17
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 - 84% IRR at a US$1,400 Gold Price Large footprint with 1,100 sq. km land acros
Slide 21: Appendix
APPENDIX 21
Slide 22: 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 23: 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 Q3 2020 23
Slide 24: Bert Monro, CEO
Bert Monro, CEO +44 (0) 20 3239 0010 [email protected] www.coragold.com @coragold Corporate Presentation Q3 2020 24