AS ASX:CAI AI
HIGH GRADE SHALLOW WA GOLD EXPANDING OUR 712,000 OZ RESOURCE BASE - - PowerPoint PPT Presentation
HIGH GRADE SHALLOW WA GOLD EXPANDING OUR 712,000 OZ RESOURCE BASE - - PowerPoint PPT Presentation
HIGH GRADE SHALLOW WA GOLD EXPANDING OUR 712,000 OZ RESOURCE BASE CORPORATE PRESENTATION- RIU FEBRUARY 2018 AS ASX:CAI AI DIS ISCLAIM IMER DISCLAIMER This presentation does not constitute investment advice. Neither this presentation nor
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DIS ISCLAIM IMER
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 opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which 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 Calidus. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and 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 or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at 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 or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based. COMPLIANCE STATEMENT The information in this presentation that relates to Exploration Results and Mineral Resources was released previously on the ASX in the Company’s announcement “74% Increase in High Grade Warrawoona Resource to 712,000 Ounces at 2.11 g/t Gold” dated 18 December 2017 and is available to view at https://www.calidus.com.au/investors/asx-announcements/. 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.
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UNL NLOCKING NG THE HE P POT OTENT NTIAL O OF WARRA RRAWOONA
SN SNAPSH SHOT
- Listed in June 2017 with a Inferred Resource of
411,000 ozs
- Drilled 16,000m since listing
- Increased the Resource to 712,000oz at 2.11g/t from
surface, including 541,000 ozs of Indicated Resource
- 50,000m drilling program planned in 2018
- Minimum target is to define a Resource/Reserve
capable of supporting a minimum 100Koz per annum operation for a minimum of 5+ years
- Significant exploration upside targeting aggressive
resource growth
- Well funded post $10m capital raise
- Strong and experienced board and management
team
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CORPORATE O E OVER ERVIEW EW
CAPITAL STRUCTURE
SHARES ON ISSUE
1,282
Million
MARKET CAP
(undiluted at A$0.04)
$51.3
Million
CASH
(Dec 30 2017)
$9.3
Million
DEBT
$0
ENTERPRISE VALUE
$42.0
Million
OPTIONS
(will raise $4.7m if exercised)
192.5
Million1
PERFORMANCE SHARES 275 Million2
BOARD OF DIRECTORS & MANAGEMENT
MARK CONNELLY
NON-EXECUTIVE CHAIRMAN
(Corporate) Mr Connelly has extensive resource industry experience in CEO and Managing Director roles across multiple jurisdictions including Australia, West Africa, North America and Europe.
DAVID REEVES
MANAGING DIRECTOR
(Mining Engineer) 25 years’ mining experience in Australia, Africa and Europe. GCM, Delta Gold, Zimplats, European Metals Holdings.
ADAM MIETHKE
NON-EXECUTIVE DIRECTOR
(Geologist) Over 15 years’ experience in exploration and mine geology, funds management and corporate advisory. Rio Tinto, Snowden, Regent Pacific Group, Argonaut.
KEITH COUGHLAN
NON-EXECUTIVE DIRECTOR
(Corporate) 30 years’ experience in stockbroking and funds management on ASX, AIM and TSX. Talga, European Metals, Southern Hemisphere Mining.
PETER HEPBURN-BROWN
NON-EXECUTIVE DIRECTOR
(Mining Engineer) 35 years’ international mining experience, managing gold mines in Australia and internationally, Medusa Mining, Focus Minerals.
JANE ALLEN
GEOLOGY MANAGER
30 years international experience with Anglogold Ashanti, Resolute Mining Limited, Avion Gold Corporation and GCM
1. 118.5m @ 2.5c, 50m @ 2.0c and 24m @ 3.0c 2. On completion of a positive PFS
AS ASX:CAI AI
* * Keras PLC shares escrowed for 24 months, CAI board and management own 18 % of Keras
3% 6% 31% 25% 36%
CAI Shareholder Breakdown
Board & Mgmt Direct Board and Mgmt via Keras Keras Plc* Institutions Other
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CALID IDUS T TIM IMELIN INE
WHAT W WE E HAVE A E ACHIEV EVED ED A AND O OUTLOOK F FOR 2018
ASX LISTING
Listing of Calidus Resources (ASX:CAI)
- nto the ASX
22/06/2017
CONSOLIDATION NOVO & EPMINEX
Further consolidation of tenements at Warrawoona including strategic Novo Joint Venture
DRILL PROGRAM
12,600m drill program and met test work commenced – June 2017
RESOURCE UPGRADE
712,000 oz Resource @ 2.11g/t Au declared Dec 2017
MAIDEN PROGRAM
Maiden drill program that has delivered
- utstanding
results to date
KLONDYKE DEEPS
Q1 2018 EIS Co-funded drilling to target 400m below surface high grade shoot extensions at Klondyke
2018 RESOURCE DRILLING
Q2 2018 Onwards RC and diamond drilling program, commence Q2 2018
PFS
To commence post resource upgrade
REGIONAL EXPLORATION
Q1/2 2018 Onwards Greenfields program including ground reconnaissance and drilling of priority targets
RESOURCE UPGRADE
Q4 Planned Resource Upgrade to underpin PFS
COMPLETED PLANNED
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LOCATED ED I IN AREA EA W WITH P PROVEN EN RESOURCE E POTEN ENTIAL
WARRAWOON OONA G GOL OLD PROJ OJECT
WI WINGINA WE WELL
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TARGET ETING A L LARGE E AND R RAPID INCREA EASE E IN RES ESOURCE E WITH M MULTIPLE TARGET ETS I IDENTIFIED ED
WARRAWOON OONA G GOL OLD PROJ OJECT
PROJECT HIGHLIGHTS
- 363km2 under control, application
- r option
- +200 historic mines located on
tenements
- Never mined in modern era due to
fragmented ownership
- Very limited previous exploration
focussed around the Klondyke workings
- Majority of package not covered by
any soil sampling or drilling, large blue sky upside
- All resources currently reside on
granted mining permits
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CURREN ENT R RES ESOURCE E ON K KLONDYKE E SHEA EAR
KLONDYKE D E DEP EPOSIT
OLD WORKINGS – KLONDYKE SHEAR
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HIS ISTORIC ICAL D DRIL ILLIN ING IS IS LIM IMIT ITED, CONSTRAIN INED AND SHALLOW
KL KLONDYKE KE – EXPL PLORATION U UPS PSIDE
- Potential mineralisation extends 12.5km along strike with large number of workings
- Limited geophysics and no or very limited exploration and testing of parallel structures
- Tangible upside via extensional drilling
- Deep holes targeting high grade shoots to 450m planned for 2018
* All grades shown are life of mine average grades – source MINDEX
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KL KLONDYKE KE S SECTIONS
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WOR ORK F FOR OR PFS C COM OMMENCED
METALLURGICAL TESTWORK
- Historic metallurgical test work to 150m depth shows free
milling ore with recoveries of 93% to 96%
- Full PFS metallurgical program underway to optimise grind
size, gravity recovery and reagent consumption ENVIRONMENTAL
- Flora and fauna studies commenced as have discussions
with regulator TAILINGS
- Desktop studies underway for location and style of tailings
dams HERITAGE
- Heritage clearance work commenced
TO S SHORTE TEN STU TUDY TI TIMEFRAME
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MULTIPLE E HIGH G GRADE S E SATEL ELLITE E TARGETS, W WITHIN 10KM OF KLONDYKE
REGIO IONAL U UPSID IDE - SHEA EAR Z ZONES ES
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REGIO IONAL U UPSID IDE
COPENHAGEN
- JORC 2012 Inferred Mineral Resource
- f 0.2Mt @ 6.1g/t for 36,000 ozs to
maximum of 100m depth and along 140m of strike FIELDINGS GULLY
- JORC 2012 Resource
- Indicated: 0.2Mt @ 1.65g/t, 9,000 ozs
- Inferred: 0.2Mt @ 1.65g/t 13,00o ozs
- Total 0.4Mt @ 1.65g/t for 22,000 ozs
- Open along strike and down dip
CORONATION
- Lies 3km along strike of Copenhagen
and is drilled over 190m strike length
- RC drilling planned Q1
- Historic results incl.
9m @ 5.21 g/t from 9m 8m @ 7.64 g/t from 64m 3m @ 16.67 g/t from 16m 12m @ 7.98 g/t from surface 2m @ 31.5 g/t from 30m
HIGH G GRADE S E SATEL ELLITE OPPORTUNITIES ES R RECENTLY DRILLED ED
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ASSI SSIST STS S WITH R RAPID C COST ST EFFECTIVE DEVELOPMENT
WELL SERV RVICED BY E Y EXISTING I INFRA RASTRU RUCTURE RE
- Located 20km south east of Marble Bar
- 2 hours drive from Port Hedland on sealed road –
Australia’s largest port
- All weather, council maintained road from Marble
Bar to leases
- Access to fresh water
- Sealed airstrip in Marble Bar
- Mining Registrar located in Marble Bar
- Accommodation for 100 in single rooms
- Mad Clappin Harry’s, the best coffee in the NW!
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EXPLORATIO ION P PRIO IORIT ITIE IES
RANKING OU OUR T TARGETS F FOR OR ON ONGOI OING E EXPLOR ORATION ON
Resource Upgrade and PFS
- Expand Resource
- Increase confidence
Conglomerates & Greenfield Exploration
- Assess the extent of
conglomerate outcrop
- Identify new potential
drill targets Drilling Underway at Novo JV
- Expand throughout
Warrawoona Greenstone Belt
16 DCN GCY GOR CMM EAR EXU KIN CDV CAI WAF 1.00 1.20 1.40 1.60 1.80 2.00 2.20 2.40 500 1000 1500 2000 2500 3000 3500 4000
Open-Pit Resource Grade (g/t Au) Open-Pit Resource Ounces (Koz)
… ON G N GRADE A AND ND O OUNC NCES
The F e Future o e of A ASX Open en- Pit D Dev evel eloper ers CA CAI
*Bubble Size Represents Enterprise Value 1. Data at 17 Jan 2018
17 0.00 0.50 1.00 1.50 2.00 2.50 20 40 60 80 100 120 140 GOR WAF GCY EAR EXU CAI CMM KIN
Open-Pit Resource (g/t Au) EV/Open-Pit Resource ($/Oz)
… UNDERVALUED ED B BASED ED O ON MARKET ET MET ETRICS
The F e Future o e of O Open en- Pit D Dev evel eloper ers CA CAI
1. Data at 17 Jan 2018 Developer Calidus Grade g/t Au in Resource
Average EV/oz
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A FRESH, WELL CAPITALISED STORY IN A TIER 1 JURISDICTION REASO SONS T S TO INVEST ST
EXISTING HIGH GRADE RESOURCE to be further increased in 2018 AGGRESSIVE DRILL CAMPAIGN OF 50,000m planned in 2018 POTENTIAL FOR NEW DISCOVERIES given lack of modern or systematic exploration and large number of existing targets PROVEN BOARD AND MANAGEMENT TEAM in gold exploration, development and mining One of the few INDEPENDENT NEAR-TERM GOLD DEVELOPMENT companies
- n the ASX