Altoro Metals Limited · ASX:ARO
Altoro Metals — Variscan Mines — Shareholder Meeting (November 2019)
25 slides from Altoro Metals's shareholder meeting presentation, November 2019
Slide 1: Annual General Meeting
Annual General Meeting November 2019 Corporate Presentation
Slide 2: Disclaimer
DISCLAIMER This document is for information purposes only. It is not a prospectus, disclosure document or offering document under Australian law or under any other law and does not constitute an offer or invitation to apply for securities. In particular, this presentation is not an offer of securiti
Slide 3: Year in Review: Restructuring Complete & Transformational Acquisition Made
YEAR IN REVIEW: RESTRUCTURING COMPLETE & TRANSFORMATIONAL ACQUISITION MADE CHILE: RESTRUCTURED SPAIN: TRANSFORMATIONAL ▪ June 2019 – material amendments to Rosario ▪ July 2019 – VAR agreed to acquire two Project Option Agreement * advanced zinc projects in Spain** ▪ Unconditional cash payments reduc
Slide 4: Transformational Deal
TRANSFORMATIONAL DEAL KEY STRENGTHS KEY FACTS Supportive, long-term shareholders: Strategic portfolio of Growth Existing investor support high impact base Opportunities metal projects High-quality Zinc assets in Spain: Former mines with near term production potential Conducting a capital raise: Mini
Slide 5: Two Advanced Zinc Projects in Spain
TWO ADVANCED ZINC PROJECTS IN SPAIN CANTABRIA: TOLEDO: NOVALES-UDIAS ZINC PROJECT ** GUAJARAZ ZINC PROJECT ** ▪ Largest most prospective zinc exploration footprint in Europe ▪ Excellent brown-fields opportunity with drill-ready targets. > 68.3km2. ▪ ENADIMSA in 1990 suggested potential mineralisatio
Slide 6: Projects Strategically Located
PROJECTS STRATEGICALLY LOCATED NOVALES-UDIAS ▪ Located in the heart of the prolific Basque-Cantabrian Basin ▪ Reocin and surrounding area is one of the premier zinc- lead mining fields in Europe ▪ Close to regional capital in Santander with established infrastructure GUAJARAZ ▪ Located close to Tole
Slide 7: Reocin Is One of the Largest MVT Deposits Globally, Ever
REOCIN IS ONE OF THE LARGEST MVT DEPOSITS GLOBALLY, EVER NOVALES-UDIAS BENCHMARKING 113 MVT DEPOSITS & 10 DISTRICTS: GRADE/TONNAGE CURVES ▪ Reocin is <10km from Novales ▪ Both are situated in the Basque-Cantabrian Basin ▪ Diagonal line represents tonnage of Zn and Pb metal | ASX:VAR Source: USGS 7
Slide 8: Spain: Key Advantages for Mining
SPAIN: KEY ADVANTAGES FOR MINING STRONG REGIONAL GOVERNMENT SUPPORT JOB & WEALTH CREATION IN AREAS OF HIGH UNEMPLOYMENT 1st CLASS INFRASTRUCTURE ALREADY IN 2nd LARGEST ZINC SMELTER IN CLOSE PLACE PROXIMITY | ASX:VAR Source: EuroStat / EU 8
Slide 9: Spain: A Favourable Mining Jurisdiction
SPAIN: A FAVOURABLE MINING JURISDICTION ✓ EU & OECD member ✓ Close proximity to industrial markets ✓ Significant mining & development investment ✓ Regional autonomy for development of mining projects ✓ Available supply of highly skilled labour HIGH INVESTMENT ATTRACTIVENESS RANKING 90 2017 2018 80 7
Slide 10: Cantabria: Zinc Mining Welcomed by Government
CANTABRIA: ZINC MINING WELCOMED BY GOVERNMENT ‘CHALLENGES & OPPORTUNITIES OF ZINC IN CANTABRIA’ MARCH 2019 The President of Cantabria, Miguel Ángel Revilla, commented: ▪that if the presence of sufficient material is confirmed, Cantabria will once again have mining activity which, in his opinion, wil
Slide 11: Novales - Udias
NOVALES - UDIAS
Slide 12: Opportunities for Results
OPPORTUNITIES FOR RESULTS HIGH QUALITY, POTENTIAL TIER 1 ZINC PROJECTS WITH EXCELLENT NEAR TERM PRODUCTION POTENTIAL ▪ Dominant position in a proven zinc field with known Tier 1 deposits. ▪ Clear Exploration strategy with walk up drill targets. ▪ Low cost exploration with conventional techniques lik
Slide 13: Novales-Udias: Tier 1 Zinc Opportunity
NOVALES-UDIAS: TIER 1 ZINC OPPORTUNITY POSITIONED OVER A PROVEN MISSISSIPPI VALLEY TYPE (MVT) PROVINCE * ▪ Past production: Extensive mining with numerous deposits. Grades appear to be around 10% Zn-Pb. ▪ No Modern Exploration: Lead-zinc mines abandoned in the 1997 in the Novales zone and in 1973 in
Slide 14: Novales-Udias: 68.3km2 of Contiguous Tenement Holding
NOVALES-UDIAS: 68.3km2 OF CONTIGUOUS TENEMENT HOLDING EXPLORATION & MINING CONCESSIONS ALREADY GRANTED* 55.8km2 Granted Exploration Concession, initial 3yr term, extendable by 3yrs 12.5km2 Granted Mining Concessions 18yrs to run 1k m | ASX:VAR * See ASX Announcement 29 July 2019 14
Slide 15: Novales-Udias: Significant Regional Geochemistry Anomalies
NOVALES-UDIAS: SIGNFICANT REGIONAL GEOCHEMISTRY ANOMALIES* | ASX:VAR * See ASX Announcement 6 November 2019 15
Slide 16: Novales-Udias: Extensive High Order Zinc Anomalies
NOVALES-UDIAS: EXTENSIVE HIGH ORDER ZINC ANOMALIES * ONLY 1/3 OF DOLOMITE HOST ROCK HAS BEEN SAMPLED East of Cobreces several unconstrained soil anomalies to 5.3% Zn. Novales north area (Ciguenza) – soil anomalies to 3.2% Zn. Novales central and south areas (Bustablado) – soil Motilos to Magdelena a
Slide 17: Novales-Udias: Field Work Underway on High Priority Targets
NOVALES-UDIAS: FIELD WORK UNDERWAY ON HIGH PRIORITY TARGETS * CLEARLY DEFINED OBJECTIVES Fieldwork will gather detailed geological information to further prioritise target definition and drill-hole positioning for future drilling. The work program will include: ▪geological mapping and rock-chip samp
Slide 18: Novales-Udias: Making Early Progress Quickly
NOVALES-UDIAS: MAKING EARLY PROGRESS QUICKLY WHAT WE’VE ACHIEVED SO FAR… ✓ Identified & executed transformational acquisition ✓ Successful capital raise attracting high-quality investors Repurchase of Hispanibal Option & Co-Operation ✓ Agreement Technical Memorandum with School of Mines, University
Slide 19: Novales-Udias: Plan to Maintain Momentum to Maiden Drilling
NOVALES-UDIAS: PLAN TO MAINTAIN MOMENTUM TO MAIDEN DRILLING WHAT WE’RE PLANNING TO DO…NEAR TERM…. ✓ Complete current fieldwork campaign this week ✓ Assay results from sampling published ✓ Historic data published (including historic drilling) ✓ Site works commenced establish safety and security of th
Slide 20: Transformational Deal
TRANSFORMATIONAL DEAL
Slide 21: Transaction Highlights: Compelling Proposition
TRANSACTION HIGHLIGHTS: COMPELLING PROPOSITION FORMER PRODUCING DATA ACQUSITION PATH TO POTENTIAL POTENTIAL ROUTE TO PERMITTING IN MINES UNDERWAY PRODUCTION MARKET PLACE Novales mine; School of Mines High grade Close proximity Exploration and historic production at Torrelavega ‘bolsas’ provide (~80k
Slide 22: Next Steps & Opportunities for Immediate-Term Results
NEXT STEPS & OPPORTUNITIES FOR IMMEDIATE-TERM RESULTS: ADDITIONAL MULTIPLE PROJECTS NEAR TERM RESOURCE We continue to be agile and alert to additional PRODUCTION TARGETS value–accretive projects POSSIBILITY Both Toledo and Cantabria that are complementary have the right rocks to yield POTENTIAL FOR
Slide 23: Guajaraz
_ GUAJARAZ
Slide 24: Guajaraz Zinc Project, Toledo: Key Features
GUAJARAZ ZINC PROJECT, TOLDELO: KEY FEATURES EXCELLENT BROWN FIELDS OPPORTUNITY WITH WALK UP DRILL TARGETS The Guajaraz concessions present a unique brownfields base-metal target with early drilling opportunities with no real modern exploration completed since 1978, when the mine closed. Key feature
Slide 25: | ASX:VAR
Stewart Dickson +44(0) 7799694195 [email protected] | ASX:VAR 25