Cora Gold Ltd. · LSE:CORA
Cora Gold — Investor Presentation (2022)
31 slides from Cora Gold's investor presentation, Nov 8, 2022
Slide 1: Emerging West African Gold Developer
Emerging West African Gold Developer Q2 2022 Corporate Presentation
Slide 2: Disclaimer
Disclaimer The information being released by the Cora Gold Limited (the "Company") today & attached to the RNS (the “Materials”) are being released to provide additional information with respect to the business of the Company. The Materials are not intended to form, & shall not be treated as, the ba
Slide 3: Overview
Overview Corporate Presentation Q3 2021 3
Slide 4: Cora Gold – A Summary
Cora Gold – A Summary Advancing Proven Gold Deposits Developing the Sanankoro Gold Project in Southern Mali as well as continued regional exploration across c.1,000km² of exploration permits in Mali and Senegal. Sanankoro Gold Project Scoping Study completed in January 2020 with a DFS due for comple
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 Q2 2022 5
Slide 6: A Team to Deliver
A Team to Deliver Track record of discovery & development in Africa (Board info in appendix) Management Team Bert Monro Craig Banfield Russell Bradford CEO & Director CFO & Company Secretary Project Manager • +13 years’ experience within the natural • +25 years’ experience in finance roles in UK and
Slide 7: Sanankoro
Sanankoro Corporate Presentation Q3 2021 7
Slide 8: Sanankoro Gold Project
Sanankoro Gold Project Key Facts Location Yanfolila Gold Belt, Southern Mali Project Area Five contiguous permits encompassing c.439km² Gold oxide mineralisation to 207m depth Mineralisation and high-grade sulphide mineralisation identified at depth Between 1-2Moz gold to a vertical depth of 100m SR
Slide 9: 2021-2022 Drill Campaign
2021-2022 Drill Campaign Focused on resource growth and upgrading of existing Inferred resources to Measured & Indicated • c. 50,000m drilled across 2 drill campaigns • Updated MRE due June/July 2022 • Top results from 2021-2022 drilling: 49m @ 15.55 g/t incl 8m @ 89.12 g/t 19m @ 31.56 g/t incl 6m @
Slide 10: 2021 Mineral Resource Estimate
2021 Mineral Resource Estimate Prepared by CSA Global (UK) Ltd in accordance with JORC 2012 Code pit constrained using a US$1,800 gold price and 0.4 g/t cut-off grade Announced 16 November 2021 Tonnes Grade Gold Mineral Resource Ore Type Classification (thousands) (g/t Au) (koz) Oxide 10,170.4 1.28
Slide 11: Sanankoro: Selin
Sanankoro: Selin Drilling delivered 550m of increased resource length to maiden MRE – remains open in all directions Positive results from the middle of Selin where there was previously a gap between two pit shells Presence of oxide gold mineralisation of potentially economic grades & widths confirm
Slide 12: Sanankoro: Zone A & Zone C
Sanankoro: Zone A & Zone C New drill results at Zones A & C confirm good widths and grade in oxide ore Intercepts confirm the broad >60m horizontal width and good open pit tenor of the Zone A ore body Drilling has highlighted the open pit resource-quality and continuity of the Zone A-style mineralis
Slide 13: Sanankoro: Zone B
Sanankoro: Zone B Initial results clearly evidence broad, open pit resource-quality and continuity of the Zone B setting B1 demonstrated potential to be a major mineralised system which, in concert with Zone A, has the potential to add significant oxide resources Corporate Presentation Q2 2022 13
Slide 14: Sanankoro Timeline
Sanankoro Timeline Focused on the delivery of a DFS in Q3 2022 Near Term Goals: Q3 2022 2022 Updated MRE Permitting and Financing Q3 2022 H2 2022 H1 2022 Definitive Feasibility Commence ESIA Study Construction Strategy: 1. SENET appointed to run the DFS focussed on a gravity/CIL open pit mining oper
Slide 15: Sanankoro: Financing
Sanankoro: Financing Sanankoro has been significantly de-risked with financing agreed on competitive terms • US$25m* Term Sheet signed September 2021 to support the development of Sanankoro post DFS made up of; More About The Consortium • US$12.5m Equity and The Consortium includes highly experience
Slide 16: Regional Projects
Regional Projects Corporate Presentation Q3 2021 16
Slide 17: Yanfolila Project Area
Yanfolila Project Area KEY FACTS Location Yanfolila Gold Belt, Southern Mali Project Area Five permits encompassing 372km² Tekeledougou Permit • 56m @ 2.2 g/t Au • 17m @ 6.8 g/t Au Targets • 1m @ 35.7 g/t Au Tagan Permit • 43m @ 1.2 g/t Au • 25m @ 1.1 g/t Au Infrastructure 8km from Yanfolila Gold Pl
Slide 18: Diangounté Project Area
Diangounté Project Area KEY FACTS Location Kenieba Window: Approximately 6.5km southwest of Sadiola gold mine • Four permits encompassing 328 km² Project Area within the Kenieba Window • 2,000m RC drill programme undertaken at Madina Foulbé • 47m @ 0.63 g/t Au incl. 1m @ 16.4 H1 2020 RC g/t Au Resul
Slide 19: Corporate
Corporate AT A GLANCE: SIGNIFICANT SHAREHOLDERS Market Cap GBP £20.85m* Brookstone Business Inc. 28.59% Lord Farmer (Red Kite founder) 14.12% Share Price 7.30p* Key Ventures Holding Ltd (plus Paul 52 Week Range 6.70p – 20.00p Quirk (a Non-Executive Director of 4.72% Cora)) Nomad finnCap Total (inc.
Slide 20: Peer Comparisons
Peer Comparisons Undervalued compared to peers Case Study – Mali oxide project Enterprise Value (US$m) 300 Company Robex Resources Project Nampala Mine, Mali 250 Listing CVE Market Cap C$250m 200 Stage Production, open pit oxide mine 150 936kozs Reserves @ 0.71g/t Stats c.50,000ozs/year at sub $1,00
Slide 21: Mali & Senegal
Mali & Senegal At A Glance Key Facts World class gold regions in West Africa • Established, & reliable mining codes • The Yanfolila Gold Belt (south Mali) • Favourable to mining operations & investments • The Kedougou-Kenieba Inlier gold belt (known as the • Numerous active multi-national ‘Kenieba W
Slide 22: Why Invest?
Why Invest? Broad portfolio of gold projects with Sanankoro de-risked with multiple, high potential, drill ready development financing agreed based gold targets in two world class on Scoping Study economics - 107% locations IRR at a US$1,500 gold price (January 2020) Clear strategy with defined Larg
Slide 23: Appendix
Appendix Corporate Presentation Q3 2021 23
Slide 24: Board & Advisers
Board & Advisers Ed Bowie Paul Quirk Chairman NED • +24 years’ experience within the wider natural • +10 years operational experience in the Republic of resources industry Congo, having worked as Country Manager of MPD • started his career with SAMAX Gold in Tanzania before Congo SA, which listed on
Slide 25: Mineral Resource Estimate
Mineral Resource Estimate Completed by CSA Global (UK) Ltd Mineral Resource Estimate • +200% increase in total ounces from maiden MRE Tonnes Grade Gold Area Classification in December 2019 (thousands) (g/t Au) (koz) • Significant upgrade to Indicated category using a Indicated 3,478.4 1.33 149.2 0.4
Slide 26: Grade Cut-Off Sensitivity
Grade Cut-Off Sensitivity Cut-off Grade Grade Above Cut-Off Tonnes Gold (g/t Au) (g/t Au) (thousands) (koz) 0.3 1.12 22,790.7 819.6 0.4 1.15 21,891.1 809.3 0.5 1.22 19,820.2 779.1 0.6 1.33 17,175.3 732.2 0.7 1.46 14,305.0 672.0 0.8 1.64 11,451.3 603.5 0.9 1.78 9,716.2 556.1 1.0 1.92 8,288.7 512.6 An
Slide 27: Community Development
Community Development Sanankoro Project Area: Cora is committed to operating in ways that engage positively with the local communities and is actively involved in programmes focused on alternative livelihoods, healthcare, and education, which include: Financing a new water well at the Dako community
Slide 28: Scoping Study Highlights
Scoping Study Highlights At US$1,500 Gold Price, a 1.5mtpa Heap Leach Mine delivers: (published Q1 2020) 107% Pre-production capex Internal Rate of Return (IRR) US$20.6m Avg Annual Free AISC (US$/oz) Cash Flow US$23.6m US$942 Avg Annual Production Payback period of less than 45,632oz 18 months Annou
Slide 29: Scoping Study Overview
Scoping Study Overview 1.5 Mtpa Heap Leach US$1,500 Ore Mined (Mt) 4.2 Strip ratio (waste:ore) 5.9 Grade (g/t) 1.5 Mined gold (Oz) 197,753 Produced Gold (Oz) 138,427 Recovery (%) 70 Avg Production/year (Oz) 45,632 Avg AISC/year (US$/oz) 942 Avg Free Cash Flow/year (US$m) 23.6 IRR (%) 107 NPV (8% dis
Slide 30: Scoping Study Technical
Scoping Study Technical Mining Processing • Heap leach favoured over CIL in trade off • Predominantly free digging oxides due to reduced capex • Limited drill & blast will be required • Would be reviewed with resource growth • 1.5Mtpa favoured as optimum plant size Conservative mining parameters bei
Slide 31: Bert Monro, CEO
Bert Monro, CEO +44 (0) 20 3239 0010 [email protected] www.coragold.com @coragold