ASX:CAI
1.25 1.25 Moz Moz HIGH HIGH - GRADE, SHALLOW GRADE, SHALLOW WA GOLD PROJECT WA GOLD PROJECT
PROGRESSING TO DEVELOPMENT
RIU PRESENTATION FEBRUARY 2019
1.25 1.25 Moz Moz HIGH HIGH - GRADE, SHALLOW GRADE, SHALLOW WA - - PowerPoint PPT Presentation
1.25 1.25 Moz Moz HIGH HIGH - GRADE, SHALLOW GRADE, SHALLOW WA GOLD PROJECT WA GOLD PROJECT PROGRESSING TO DEVELOPMENT ASX:CAI RIU PRESENTATION FEBRUARY 2019 DISCLAIMER DISCLAIMER DISCLAIMER This presentation does not constitute
ASX:CAI
RIU PRESENTATION FEBRUARY 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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SNAPSHOT
including 1.1Moz at 2.37g/t
(64%)
listing June 2017 (412,000oz)
commenced, completion due Q3 2019
Definitive Feasibility Study (DFS)
applications for permits to be submitted Q3 2019
adjacent to existing resources and in greenfields areas on 781 km2 tenement package being targeted in 2019
PAGE 3 CORPORATE PRESENTATION FEBRUARY 2019
A CENTURY OF EXPERIENCE IN PRECIOUS A CENTURY OF EXPERIENCE IN PRECIOUS
METAL PROJECT DEVELOPMENT
PAGE 4 CORPORATE PRESENTATION FEBRUARY 2019
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. CurrentlyNon-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. Previous roles at GCM, Delta Gold, Zimplats and European Metals Holdings. 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
CAPITAL STRUCTURE
SHARES ON ISSUE
1,419
Million
MARKET CAP
(undiluted at A$0.027)
$38.3
Million
CASH
(as at 31 Dec 2018)
$3.9
Million
LISTED INVESTMENTS
$2.9
Million
ENTERPRISE VALUE
$31.5
Million
OPTIONS
(will raise $6.9m if exercised)
254
Million3
PERFORMANCE SHARES 275
Million4
CAPITAL STRUCTURE AND SHAREHOLDERS CAPITAL STRUCTURE AND SHAREHOLDERS
1. Using share price of $0.26 as at 4 Feb 2019 2. CAI board and management own 18 % of Keras 3. 118m @ 2.5c, 50m @ 2.0c, 70m @ 3.5c and 16m @ 3.0c 4. Performance Shares vest on completion of a positive PFS 5. ALK cash balance as at 31 December 2018
KEY SHAREHOLDERS
KERAS RESOURCES2 (AIM:KRS) 32.3% ALKANE RESOURCES (ASX:ALK) 10.2% NOVO RESOURCES (TSX: NVO) 4.0%
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WELL FUNDED
STRONG CORPORATE MINING SUPPORT
producer with c.$80m in cash reserves and investments5
explorer with nearby gold properties and JORC resources
TIGHTLY HELD SHARE REGISTER
CORPORATE PRESENTATION FEBRUARY 2019
LOCATED IN AREA WITH PROVEN RESOURCE POTENTIAL LOCATED IN AREA WITH PROVEN RESOURCE POTENTIAL
PAGE 6 CORPORATE PRESENTATION FEBRUARY 2019
780KM 780KM 2
2 OF CONTIGUOUS TENURE
OF CONTIGUOUS TENURE
PAGE 7 CORPORATE PRESENTATION FEBRUARY 2019
780km2 under control, application or option
exploration focused around the Klondyke workings
covered by any soil sampling
PAGE 8 CORPORATE PRESENTATION FEBRUARY 2019
76% INCREASE IN GLOBAL RESOURCE BASE TO 1.15 76% INCREASE IN GLOBAL RESOURCE BASE TO 1.15 Moz 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
HIGH GRADE MINERALISATION REMAINS HIGH GRADE MINERALISATION REMAINS OPEN AT DEPTH OPEN AT DEPTH
PAGE 9 CORPORATE PRESENTATION FEBRUARY 2019
PAGE 10 CORPORATE PRESENTATION FEBRUARY 2019
CONTINUOUS OUTCROPPING RESOURCE OPEN IN ALL DIRECTIONS CONTINUOUS OUTCROPPING RESOURCE OPEN IN ALL DIRECTIONS
MULTIPLE HIGH GRADE SATELLITE TARGETS, WITHIN 10KM OF KLONDYKE MULTIPLE HIGH GRADE SATELLITE TARGETS, WITHIN 10KM OF KLONDYKE
PAGE 11 CORPORATE PRESENTATION FEBRUARY 2019
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 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 PROGRESSION OF PFS, SCHEDULED FOR Q3 2019 COMPLETION RAPID PROGRESSION OF PFS, SCHEDULED FOR Q3 2019 COMPLETION
METALLURGICAL TESTWORK
recoveries), conventional processing methods & variability testing underway
ENVIRONMENTAL
commenced as have discussions with regulator & MAF/PAF testing
HYDROLOGICAL
& hydrological model completed – production bores to be drilled in 2019
HERITAGE
TAILINGS
testing complete, further confirmatory work planned, initial designs & locations finalised
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GEOTECHNICAL
complete & analysis underway
CORPORATE PRESENTATION FEBRUARY 2019
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PAGE 13 CORPORATE PRESENTATION FEBRUARY 2019
ASSISTS WITH RAPID COST EFFECTIVE DEVELOPMENT ASSISTS WITH RAPID COST EFFECTIVE DEVELOPMENT
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
Marble Bar to leases
PARALLEL WORKSTREAMS TO PROVIDE CONSISTENT NEWSFLOW PARALLEL WORKSTREAMS TO PROVIDE CONSISTENT NEWSFLOW
PAGE 14 CORPORATE PRESENTATION FEBRUARY 2019
Yandal, EAR Karlawinda, CMM Bombora, BRB Warrawoona (0.5 g/t Au cut-off grade) Leonora, KIN 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)
ONE OF FEW HIGH GRADE INDEPENDENT DEVELOPMENT PROJECTS ONE OF FEW HIGH GRADE INDEPENDENT DEVELOPMENT PROJECTS
PAGE 15 CORPORATE PRESENTATION FEBRUARY 2019
UNDEVELOPED OPEN-PIT WA PROJECTS (>1Moz Au)1 Scarcity of independent ASX open pit gold developers with Resource bases over 1Moz Au
1. Data as at 18 February 2019
* Bubble size represents Enterprise Value
175 123 111 98 73 45 40 28 24 25 50 75 100 125 150 175 200 BGL EXU VAN EAR BRB CMM GMD CAI KIN
EV/Resource (A$/oz)
VALUE GROWTH ASSOCIATED WITH DEVELOPMENT VALUE GROWTH ASSOCIATED WITH DEVELOPMENT
1. Data as at 18 February 2019 2. Calidus EV doesn’t account for listed investments of c.$2.9m
PAGE 16 CORPORATE PRESENTATION FEBRUARY 2019
UNDERVALUED COMPARED TO DEVELOPMENT PEERS
Completed Feasibility Study Prior to Feasibility Study
Average = $86/oz
BGL EXU VAN EAR BRB CMM GMD CAI KIN Key Project Bellevue Tampia Trident Yandal Bombora Karlawinda Ulysses Warrawoona Leonora Stage Resource Development Feasibility Resource Development Feasibility PFS Commenced Financing Feasibility PFS Commenced Resource Development Mkt Cap (A$m) 239 85 90 143 86 51 36 38 31 EV (A$m) 268 83 91 138 79 50 31 342 25 Resource (koz) 1,530 675 825 1,405 1,084 1,114 760 1,248 1,023 Grade (g/t) 11.8 1.8 3.1 2.1 1.4 1.1 3.3 1.8 1.4 Mine Type Underground Open-pit Underground Open-pit Open-pit Open-pit Underground Open-pit & Underground Potential Open-pit
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REASONS TO INVEST
CORPORATE PRESENTATION FEBRUARY 2019
development achieved
resource
team
Pre-feasibility Study completion
quality infrastructure and operating mines
significant potential for new discoveries given lack of modern or systematic exploration
remaining high grade open-pit gold development companies on the ASX