Chalice Mining Limited · ASX:CHN
Chalice Mining — Bell Potter Unearthed (February 2024)
29 slides from Chalice Mining's conference presentation, Feb 14, 2024
Slide 1: An emerging critical minerals province in Western Australia
An emerging critical minerals province in Western Australia Bell Potter Unearthed 14 FEBRUARY 2024 ASX:CHN
Slide 2: Cautionary statements and competent person(s) disclosure
Cautionary statements and competent person(s) disclosure Authorisation Forward-Looking Statement This Presentation has been authorised for release by the Disclosure Committee. This Presentation may contain forward-looking statements and forward information, (collectively, forward-looking Disclaimer
Slide 3: Cautionary statements and competent person(s) disclosure (cont'd.)
Cautionary statements and competent person(s) disclosure (cont’d.) Reliance on Third Party Information The information in this Presentation that relates to Mineral Resources has been extracted from the ASX announcement The views expressed in this Presentation contain information that has been derive
Slide 4: Why Chalice? We own one of the largest critical minerals deposits in the western world
Why Chalice? We own one of the largest critical minerals deposits in the western world and are unlocking a new mineral province Strong • ~$112M in cash and no debt1 financial position • No need to raise capital in the foreseeable future Unique tier-1 • 100% ownership of the largest undeveloped palla
Slide 5: Why palladium? Hybrid electric vehicles will drive strong demand for palladium and battery metals
Why palladium? Hybrid electric vehicles – the ‘best of both worlds’ solution will drive strong demand for palladium and battery metals • Sales of battery electric vehicles (BEVs) are Electric vehicle sales, Sept 2022-2023 (‘000s) growing at 16% p.a., whilst sales of plug-in hybrid electric vehicles
Slide 6: Why palladium? Spot price at ~50th percentile of cost curve; Russia-South Africa dominate supply
Why palladium? Spot price is at ~50th percentile of the cost curve and Russia-South Africa dominate supply – clear supply chain risks PGE Industry Cost Curve – Net total cash costs per 4E oz (after by-product credits), CY2022, US$/oz2 Quartile 1 Quartile 2 Quartile 3 Quartile 4 2,000 Avg AISC of Q4
Slide 7: Why now? Palladium prices at cyclical lows and Chalice has leverage to price recovery
Why now? Palladium prices are at cyclical lows, vehicle sales are strong and Chalice has a high degree of leverage to price recovery 3yr performance1 Upcoming catalysts Chalice ASX: CHN LBMA Pd price (rebased) 1. PGE price recovery driven by slowing BEV uptake 10.0 9.0 and growing ICE/hybrid sales 8
Slide 8: Gonneville Project
Gonneville Project Project update and priorities
Slide 9: Gonneville starter cases, regional exploration and partnering process represent potential catalysts
Gonneville high-grade starter cases, regional exploration drilling and the ongoing strategic partnering process represent potential catalysts Milestones achieved to date Forward Plan1 Regional exploration Partnering process High-grade starter development case Gonneville Significant Maiden Mineral Co
Slide 10: The rare, tier-1 scale Gonneville Resource has high-grade optionality and growth potential
The rare, tier-1 scale Gonneville Resource has high-grade optionality and compelling growth potential Mineral Resource Estimate1: Gonneville Nickel Equivalent Grade-Tonnage Curve in-pit (on NiEq cut-off grade basis) • 560Mt @ 0.88g/t 3E (Pd+Pt+Au), 800 1.7 1.8 0.16% Ni, 0.09% Cu, 0.015% Co COG range
Slide 11: High-grade base metal rich mineralisation near surface is targeted with the starter cases
High-grade base metal rich mineralisation near surface is targeted with the starter cases currently being modelled Gonneville hosts a range of sulphide mineralisation styles, starting near surface: • High-Sulphide / base metal-rich mineralisation (>1.0% NiEq, 20-100 vol% sulphide) • Low-Sulphide PGE
Slide 12: The scale of the Resource points to very long life, large-scale open-pit and underground mining
The scale of the Resource points to very long life, large-scale open-pit and underground mining operation 3D view (looking NNE) of the Gonneville Intrusion, >0.8% NiEq Resource blocks and drilling • The 500-600m thick Gonneville Intrusion is interpreted to extend a further ~1.6km down-dip to the WNW
Slide 13: Process flowsheet combines proven technologies with staging options being evaluated in the PFS
Process flowsheet combines proven technologies with staging options being evaluated in the initial phase of the PFS Sizing Grinding Oxide feed bypasses flotation and goes to leach circuit – 75% Pd and 90% Au overall recovery from oxide modelled Oxide feed Potential to drop copper flotation stage to
Slide 14: Regional Exploration
Regional Exploration
Slide 15: Gonneville Resource occupies just ~2km of the >30km long intrusive belt
Gonneville Resource occupies just ~2km of the >30km long intrusive belt – regional drilling continuing with two rigs 3D view (looking ESE) of the Julimar Complex, Gonneville Resource and soil geochemistry Gonneville Project Torres Target (untested) • ~2km long section of the Julimar • ~4km long Ni-C
Slide 16: Chalice has defined 40+ Ni-Cu-PGE and Cu-Au-Ag targets in the West Yilgarn Province
Chalice has defined 40+ Ni-Cu-PGE and Cu-Au-Ag targets in the West Yilgarn Province – near-term focus on copper and precious metal targets ~1,200km long western margin of the Yilgarn craton is highly prospective for Barrabarra Project orthomagmatic Ni-Cu+/-PGE, Intrusion-related / orogenic gold-copp
Slide 17: Summary: Key value drivers and upcoming catalysts
Summary Chalice owns 100% of a new Key value drivers and upcoming catalysts long-life, low-cost, low-carbon green metals project in WA 1. PGE price recovery driven by slowing BEV uptake and growing ICE/hybrid sales 2. Strategic partnering process for Gonneville – positive progress made and active di
Slide 18: Appendix
Appendix
Slide 19: Chalice is a globally recognised explorer with a highly regarded Board and management team
Chalice is a globally recognised explorer with a highly regarded Board and management team Our Achievements Corporate snapshot – ASX:CHN Share Register3 • World class Gonneville Ni-Cu-PGE discovery Market Capitalisation1 Shares on issue Tim Goyder (Founder) 10% recognised with PDAC Thayer Lindsley A
Slide 20: Chalice's team has a track record of discovery and large-scale project development
Chalice’s team has a track record of discovery and large-scale project development Board of Directors Management Derek La Ferla, Non-Exec Chair Richard Hacker, GM Strategy and Commercial • Highly regarded ASX200 chair and company director with 30+ years experience as a • Chartered Accountant with 20
Slide 21: Since our 2006 IPO, we have acquired quality assets and generated exceptional returns
Since our 2006 IPO, we have acquired quality assets, advanced projects quickly and generated exceptional returns 2012 2022 Zara Gold 2020 $100M raised 2006 Project in Eritrea sold for 2016 Major PGE- to progress 2023 NI-Cu-Co- Julimar $7.5M raised in ~US$114M Gonneville IPO on ASX to 2009 (pre-tax)
Slide 22: Our approach to sustainability: Deliver sustained shared value
Our approach to sustainability: Deliver sustained shared value through responsible sustainability practices Our Sustainability Vision and Pillars Strong Environmental Manage Climate Create Value for Healthy and Safe Stewardship Change Risk Stakeholders Workforce The Gonneville Project is located on
Slide 23: Gonneville Ni-Cu-PGE Project Overview
Gonneville Ni-Cu-PGE Project Overview A new long-life, low-cost, low-carbon green metals project in Western Australia A globally significant magmatic sulphide Resource ~70km from Perth: • 560Mt @ ~0.54% NiEq or 1.7g/t PdEq for ~16Moz of Pd-Pt-Au (3E), 860kt Ni, 520kt Cu, 83kt Co contained – deposit
Slide 24: Gonneville is positioned to become a strategic asset for Australia and the western world
Gonneville is positioned to become a strategic asset for Australia and the western world, given its rare palladium-nickel-cobalt content Gonneville is the first major PGE discovery in Australia Global Palladium and Nickel Primary Supply Market Share (2022)3 and one of the few recent large-scale magm
Slide 25: Unlocking the full value of Gonneville through upside opportunities
Unlocking the full value of Gonneville through upside opportunities in mining, processing and commercial areas is underway [Orange] = Near term priorities Assessed upside potential • Early high-grade underground mining in parallel to open-pit phase and block/sub-level caving options • Selectivity, e
Slide 26: Gonneville Mineral Resource Estimate (JORC Code 2012), 28 March 2023
Gonneville Mineral Resource Estimate (JORC Code 2012), 28 March 2023 Cut-off Domain Category Mass Grade Contained Metal Grade Pd Au NiEq PdEq Pd Pt Au NiEq PdEq (Mt) Pt (g/t) Ni (%) Cu (%) Co (%) Ni (kt) Cu (kt) Co (kt) (g/t) (g/t) (%) (g/t) (Moz) (Moz) (Moz) (kt) (Moz) Measured - - - - - - - - - -
Slide 27: Higher-grade sulphide component of Gonneville Resource, 28 March 2023
Higher-grade sulphide component of Gonneville Resource (in pit and underground), 28 March 2023 Cut-off Domain Category Mass Grade Contained Metal Grade Pd Au Co NiEq PdEq Pd Pt Au NiEq PdEq (Mt) Pt (g/t) Ni (%) Cu (%) Ni (kt) Cu (kt) Co (kt) (g/t) (g/t) (%) (%) (g/t) (Moz) (Moz) (Moz) (kt) (Moz) Mea
Slide 28: Metal equivalent assumptions of Gonneville Resource, 28 March 2023
Metal equivalent assumptions of Gonneville Resource, 28 March 2023 Based on metallurgical testwork completed to date for the sulphide domain, it is the Company’s opinion that all the quoted elements included in metal equivalent calculations (palladium, platinum, gold, nickel, copper and cobalt) have
Slide 29: Visit our website and sign up to receive our latest news
Visit our website and sign up to receive our latest news chalice-mining @ChaliceMining www.chalicemining.com Level 3, 46 Colin Street West Perth WA 6005, Australia +61 8 9322 3960 [email protected] ABN 47 1 16 648 956
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