ASX:CAI
1. 1.25 5 Mo Moz HIG HIGH-GRADE GRADE, SHALLO HALLOW WA A GO GOLD LD PRO ROJECT
PROGRESSING TO DEVELOPMENT
PRESENTATION MAY 2019
1. 1.25 5 Mo Moz HIG HIGH-GRADE GRADE, SHALLO HALLOW WA A GO - - PowerPoint PPT Presentation
1. 1.25 5 Mo Moz HIG HIGH-GRADE GRADE, SHALLO HALLOW WA A GO GOLD LD PRO ROJECT PROGRESSING TO DEVELOPMENT ASX:CAI PRESENTATION MAY 2019 DI DISCLAIMER ER DISCLAIMER This presentation does not constitute investment advice.
ASX:CAI
PRESENTATION MAY 2019
DISCLAIMER This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the
include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Calidus Resources Limited (the Company or Calidus) does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of
legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed
the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Calidus does not undertake any obligation to update or revise any information
COMPLIANCE STATEMENT The information in this presentation that relates to Exploration Results and Mineral Resources released previously on the ASX. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that, in the case of mineral resources estimates, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. Mr Daniel Saunders is principal and a full time employee of GeoServ Consulting Pty Ltd, and is a Member of the AusIMM. Mr Daniel Saunders has sufficient experience that is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Ms Jane Allen is a full time employee of the Company, and is a member of the AusIMM. Ms Jane Allen has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activates undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code.
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3
SNAPSHOT
including 1.1Moz at 2.37g/t
(64%)
listing June 2017 (412,000oz)
commenced, completion due Q3 2019
underway
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A A CENTU TURY OF EXPE PERIENCE IN PR PRECIOUS-ME METAL PROJECT DEVELOPME MENT
PAGE 4
MARK CONNELLY
NON-EXECUTIVE CHAIRMAN
Over 30 years’ resource industry experience in CEO and Managing Director roles across multiple jurisdictions including Australia, West Africa, North America and Europe. Currently Non-Executive Chairman at West African Resources Ltd
KEITH COUGHLAN
NON-EXECUTIVE DIRECTOR
30 years’ experience in stockbroking and funds management on ASX, AIM and TSX. Currently the MD of European Metals Holdings and recently retired as chairman of Talga Resources
ADAM MIETHKE
NON-EXECUTIVE DIRECTOR
Over 15 years’ experience in exploration and mine geology, funds management and corporate advisory. Previous technical and corporate roles at Rio Tinto, Snowden, Regent Pacific Group and Argonaut
BOARD EXECUTIVE MANAGEMENT
DAVE REEVES
MANAGING DIRECTOR
30 years’ mining experience in Australia, Africa and Europe. Instrumental in the progression of four mining projects through feasibility to project development
FERNANDO MOUTINHO
PROJECT MANAGER
30 years’ international experience with GRD Minproc, Sheffield Resources, Syrah Resources, New Century Resources
JANE ALLEN
GEOLOGY MANAGER
30 years’ international mining experience with Anglogold Ashanti, Resolute Mining, Avion Gold Corporation and GCM
PAUL BRENNAN
COO
20 years’ mining experience in Australia, Africa and Europe. Most recently GM at Saracen’s Carasoue Dam operation
CAPITAL STRUCTURE
SHARES ON ISSUE
1,501
Million1
MARKET CAP
(undiluted at A$0.025)
$37.5
Million2
CASH
(as at 31 Dec 2018)
$4.3
Million3
LISTED INVESTMENTS
$2.2
Million
ENTERPRISE VALUE
$31.0
Million
OPTIONS
(will raise $6.9m if exercised)
254
Million4
PERFORMANCE SHARES 275
Million5
CA CAPIT ITAL S STRUCT CTURE A AND ND S SHAREHOLDERS
1. Including placement to Alkane announced 30/4/19 2. Using share price of $0.25 as at 30 April 2019 3. $2.3m cash 30/4/19 plus $2m from Alkane Raise 4. 118m @ 2.5c, 50m @ 2.0c, 70m @ 3.5c and 16m @ 3.0c 5. Performance Shares vest on completion of a positive PFS 6. CAI board and management own 18 % of Keras 7. ALK cash balance as at 31 March 2019
KEY SHAREHOLDERS
KERAS RESOURCES6 (AIM:KRS) 30.5% ALKANE RESOURCES (ASX:ALK) 15.2% NOVO RESOURCES (TSX: NVO) 3.8%
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WELL FUNDED
STRONG CORPORATE MINING SUPPORT
producer with c.$72m in cash reserves7
explorer with nearby gold properties and JORC resources
TIGHTLY HELD SHARE REGISTER
LOC LOCATED IN AREA WITH PROV OVEN RESOU OURCE POT OTENTIAL L
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780K 0KM2
2 OF
OF CON ONTIGUOU OUS TENURE
PAGE 7
780km2 under control, application or option
exploration focused around the Klondyke workings
covered by any soil sampling
HI HIGH H GRADE MI MINERALISATION REMA MAINS OP OPEN AT T DE DEPTH TH
PAGE 8 CORPORATE PRESENTATION MARCH 2019
PAGE 9
76 76% I INC NCREA EASE I E IN G N GLO LOBAL R L RES ESOURCE B E BASE T E TO 1 1.15 Mo Moz
Klondyke (0.5g/t cut-off summary) Cut-off Indicated Inferred Total Au g/t Mt g/t Au Ozs Mt g/t Au Ozs Mt g/t Au Ozs Klondyke Open Pit 0.5 12.3 1.69 670,000 5.5 1.47 260,000 17.8 1.62 930,000 Klondyke Underground 2.0 0.8 3.3 80,000 1.4 3.03 140,000 2.2 3.13 220,000 Total 13.1 1.78 750,000 6.9 1.79 400,000 20.0 1.79 1,150,000 Deposit (0.8g/t cut-off summary) Cut-off Indicated Inferred Total Au g/t Mt g/t Au Ozs Mt g/t Au Ozs Mt g/t Au Ozs Klondyke Open Pit 0.8 8.4 2.19 590,000 3.1 2.16 210,000 11.4 2.19 800,000 Klondyke Underground 2.0 0.8 3.3 80,000 1.4 3.03 140,000 2.2 3.13 220,000 Total 9.1 2.21 670,000 4.5 2.44 350,000 13.6 2.23 1,020,000
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CO CONT NTINU INUOUS O OUTCR CROPPING ING R RESOURCE CE O OPEN IN A N IN ALL D DIR IRECT CTIO IONS NS
MULTIPLE H HIGH G GRADE S SATELLITE T TARGETS, W WITHIN 1 N 10K 0KM O OF K F KLOND NDYKE
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Deposit Cut-off Indicated Inferred Total Au g/t Mt g/t Au Ozs Mt g/t Au Ozs Mt g/t Au Ozs Copenhagen 0.5 0.2 5.27 36,000 0.1 1.84 3,000 0.3 4.65 39,000 Coronation 0.5
2.19 34,000 0.5 2.19 34,000 Fieldings Gully 0.5 0.2 1.65 9,000 0.3 1.62 16,000 0.5 1.63 24,000 Total 0.4 3.70 45,000 0.9 1.96 53,000 1.3 2.53 98,000
RAPID P PROGRESSION O N OF P F PFS FS, S SCH CHEDULED FO FOR Q3 Q3 2 201 019 CO COMPLETION
METALLURGICAL TESTWORK
ENVIRONMENTAL
April, submit permit applications in Q3 2019
HYDROLOGICAL
HERITAGE
TAILINGS
testing complete
capital
PAGE 12
GEOTECHNICAL
complete
13
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AS ASSISTS TS WITH TH RAPI APID COST T EFFECTI TIVE DEVELOPM PMENT
MINING REGISTRAR LOCATED IN TOWN SEALED AIRSTRIP IN MARBLE BAR 2 HOURS DRIVE FROM PORT HEDLAND ON SEALED ROAD (AUSTRALIA’S LARGEST PORT) LOCATED 20KM SOUTH EAST OF MARBLE BAR
in the Pilbara
PAR PARAL ALLEL WORKSTR TREAM AMS TO TO PR PROVIDE CONSISTE TENT T NEWSFLOW
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ON ONE OF OF FEW HIGH GRADE INDEPENDENT DEVELOP LOPMENT PROJ OJECTS
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UNDEVELOPED OPEN-PIT WA PROJECTS (>1Moz Au)1,2 Scarcity of independent ASX open pit gold developers with Resource bases over 1Moz Au
1. Data as at 30 April 2019 2. CAI includes underground resource of 220koz @ 3.13g/t
* Bubble size represents Enterprise Value
Yandal, EAR Karlawinda, CMM Bombora, BRB Warrawoona (0.5 g/t Au cut-
Warrawoona (0.8g/t Au cut-off grade) Katanning, AUC
1.0 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 1,000 1,050 1,100 1,150 1,200 1,250 1,300 1,350 1,400 1,450 1,500
Resource Grade (g/t Au) Mineral Resource Ounces (koz)
147 117 60 54 49 33 30 27 25 50 75 100 125 150 175
EV/Resource (A$/oz)
VA VALUE G GROWTH A ASSOCI CIATED W WITH D DEVE VELOPMENT NT
1. Data as at 30 April 2019 2. Calidus EV doesn’t account for listed investments of c.$2.2m
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UNDERVALUED COMPARED TO DEVELOPMENT PEERS1
Completed Feasibility Study Prior to Feasibility Study
Average = $71/oz
BGL VAN CMM EAR BRB KIN GMD Key Project Bellevue Trident Karlawinda Yandal Bombora Leonora Ulysses Warrawoona Stage Resource Development Resource Development Financing Feasibility PFS Commenced Resource Development Feasibility PFS Commenced Mkt Cap (A$m) 254 101 67 80 60 30 27 38 EV (A$m) 225 100 67 75 53 26 23 332 Resource (koz) 1,530 854 1,114 1,405 1,084 782 760 1,248 Grade (g/t) 11.8 3.5 1.1 2.1 1.4 1.4 3.3 1.8 Mine Type Underground Underground Open-pit Open-pit Open-pit Open-pit Underground Open-pit & Underground Potential
17
development achieved
resource
team
Pre-feasibility Study completion
quality infrastructure and operating mines
and has significant potential
remaining high grade open-pit gold development companies on the ASX
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REASONS TO INVEST