This presentation may include forward looking statements. Forward - - PowerPoint PPT Presentation
This presentation may include forward looking statements. Forward - - PowerPoint PPT Presentation
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
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, the Pharmanet Group Limited (to be renamed 'Calidus Resources Limited') (the Company or Calidus) does not make any representation or warranty, express or implied, as to the accuracy
- r 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. COMPETENT PERSON'S STATEMENT The information in this presentation that relates to exploration results and mineral resources for the Warrawoona Gold Project is based on, and fairly represents, information compiled or reviewed by Mr Daniel Saunders that was first reported on 22 March 2017 by the Company under the 2012 Edition of the “Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves” (2012 JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 22 March 2017 and that in the case of its mineral resources estimate, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Mr Daniel Saunders is Principal of GeoServ Consulting Pty Ltd, and is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Daniel Saunders is a full time employee of GeoServ Consulting Pty Ltd and has sufficient experience, which 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.
- Gold belt consolidated for the first time
- Existing Resource of 410,000oz at 2.2g/t from surface
- n granted Mining Leases
- Significant exploration upside defined with immediate
drill targets HIGH QUALITY ASSET AGGRESSIVE EXPLORATION PROGRAM
- Well funded $4.7m cash upon listing
- Strategy to rapidly expand resource via brownfields
extensions to current mineralisation and regional targets PROVEN MANAGEMENT
- Experienced in all aspects of project development from
exploration through development and into production
- Raised significant capital for gold exploration and
development
Well funded to support immediate and steady news flow:
- Field exploration: Mapping, sampling,
geochemistry on untested shears
- Initial 10,000m focussed drill program:
Targeting the definition of additional resources and increased resource confidence, to commence on listing
- Metallurgy: Further testwork from
Klondyke and initial testwork from Copenhagen
CAPITAL STRUCTURE
SHARES ON ISSUE
(post Capital Raise)
717.7
Million
MARKET CAP
(undiluted at A$0.02)
$14.3
Million
CASH
(upon listing)
$4.7
Million
DEBT
$0
ENTERPRISE VALUE
$9.6
Million
OPTIONS
(will raise $4.7m if exercised)
192.5
Million1
PERFORMANCE SHARES A- 250 Million2 B- 275 Million3
BOARD OF DIRECTORS & MANAGEMENT
KEITH COUGHLAN
NON-EXECUTIVE CHAIRMAN
(Corporate) 30 years’ experience in stockbroking and funds management on ASX, AIM and TSX. Talga, European Metals, Southern Hemisphere Mining.
DAVID REEVES
MANAGING DIRECTOR
(Mining Engineer) 25 years’ mining experience in Australia, Africa and Europe. Delta Gold, 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.
PETER HEPBURN-BROWN
NON-EXECUTIVE DIRECTOR
(Mining Engineer) 35 years’ international mining experience, managing gold mines in Australia and internationally. Medusa Mining, Focus Minerals.
JAMES CARTER
COMPANY SECRETARY AND CFO
CPA and Chartered Company Secretary with 20 years’ experience. Straits Resources, Keras PLC.
1. 118.5m @ 2.5c, 50m @ 2.0c and 24m @ 3.0c 2. On 500,000 ounces of Indicated Resource 3. On completion of a positive PFS
HISTORICAL GOLD MINING DISTRICT
- First mined in 1897
- +200 historic mines and
fragmented tenement ownership
- Last major drill campaign in 1991
PROJECT HIGHLIGHTS
- 253km2 under control, application
- r option
- Resource and initial focus located
at Klondyke
- Limited regional drilling over
38km of untested outcropping shears
- 1. Reported in accordance with JORC (2012) Guidelines – Includes Klondyke and Copenhagen
- Current Resource:
- 5.6Mt at 2.08g/t Au for 374,000oz
- Confined to just 2km of 7.5km strike of Klondyke shear
- Large, high grade intercepts in drilling
- Metallurgical test work to 150m depth shows free milling
- re with recoveries of 93% to 96%
- Clear exploration strategy to test infill zones and
extensions to current resource
- Predictable geology, open along-strike and down-dip
- Untested parallel veins and cross-cutting features
- 10,000m drilling initially planned
Historical Mine Working
LEGEND
JORC 2012 Resource Interpreted Fault
Klondyke King 18g/t Cuban 106g/t Kopke’s Reward 90g/t Klondyke Queen 187g/t
View
St George 167g/t
* Grades illustrated are historical life of mine head grades
Historical Mine Working
LEGEND
JORC 2012 Resource Interpreted Fault
14m @ 3.83g/t Au from 62m 19m @ 3.44g/t Au from 53m 6m @ 3.24g/t Au from 34m
View
TARGETED RESOURCE EXTENSIONS
* Grades illustrated are historical life of mine head grades
Klondyke Queen 187g/t Klondyke Boulder 40g/t Gift 46g/t Princess of Alaska 47g/t Copenhagen, Coronation Fieldings Gully
View
Gauntlet 50g/t Great Western 52g/t British Exploration of Aus. 184g/t
* Grades illustrated are historical life of mine head grades
- 78% of historical drilled intercepts are shallower than 100m
- Defined mineralisation extends 7.5km along strike with large number of workings
- No geophysics and no or very limited exploration and testing of parallel structures
- Tangible upside via infill and extensional drilling
* Grades illustrated are historical life of mine head grades
INITIAL DRILL PROGRAMME
- 7,000m of drilling in Klondyke resource extensions and upgrade
- Targeting in-fill of current resource and increasing level of confidence
- Commence step-out drilling to the west initially
- Further potential upside via multiple additional largely unexplored multiple shears to west of main shear
- Covers seven mining licences and two exploration licences/applications
COPENHAGEN
- JORC 2012 Inferred Mineral Resource
- f 180,000t @ 6.1g/t to maximum of
100m depth and along 140m of strike
- Open in all directions
CORONATION
- Lies 3km along strike of Copenhagen
and is drilled over 190m strike length 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 4m @ 5.71 g/t from 12m 2m @ 31.5 g/t from 30m FIELDINGS GULLY
- Historic non-compliant resource
calculated
- Remains open at depth and along strike
14m @ 3.09g/t from 53m 4m @ 5.29 g/t from 12m 3m @ 17.58g/t from 20m
A A’
A A’
COPENHAGEN
- 3,000m of drilling planned in 2017 for Copenhagen and Coronation
- Mapping confirms prospectivity to be followed up with targeted soil
sampling
MARBLE BAR GOLDFIELD
- Produced 170,000oz from 196,500t
- No modern exploration
- 35 recorded old workings on tenement
- Located 20km south east of Marble Bar
- Granted Mining Leases – prior to native title
regime
- 2 hours drive from Port Hedland – Australia’s
largest port
- Sealed road to Marble Bar from Port Hedland, all
weather 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 available
in Marble Bar
DCN S2R EGS GCY EMR WAF KIN CMM EAR RTG GOR AWV BSR CDV PGO ORR CAI GPR ABU AUC RVY CRB CAS AZM 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0
- 500.0
1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 3,500.0 4,000.0 4,500.0
RESOURCE GRADE (G/T AU) RESOURCE OUNCES
CAI
*Bubble Size Represents Enterprise Value. *Calculations as at May 1 2017.
- 20
40 60 80 100 120
EV/ RESOURCE OUNCES
AVERAGE = $45/oz Au
*As at May 1 2017
Undertake 10,000m drill programme to increase and improve confidence in current
- resource. Undertake metallurgical testwork
Further extensional drilling planned to define westerly strike potential and completion of Scoping Study Pre-feasibility study Initial mapping and 600m drill programme
- completed. Confirm significant intercepts
and allow finalisation of main drill programme
A FRESH, WELL CAPITALISED STORY IN A TIER 1 JURISDICTION
GRANTED MINING LEASES in an emerging Australian gold district with
world class infrastructure EXISTING HIGH GRADE RESOURCE with predictable and tangible brownfields exploration upside and drill ready targets 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 WELL FUNDED $4.7m cash upon listing One of the few INDEPENDENT NEAR-TERM GOLD DEVELOPMENT companies
- n the ASX
PROSPECTUS OVERVIEW
OVERVIEW OFFER STRUCTURE
- 350,000,000 Shares at an issue price of $0.02 each.
- 1:4 attaching Option
- 3 year term
- $0.025 exercise price
- $0.01 issue price
- ASX Listed
- To raise a total of $7,875,000 (Public Offer) (before costs).
- The purpose of the Public Offer is to provide sufficient working capital to explore the Warrawoona Gold Project, repay the D-Beta Loan Facility
and provide general working capital.
MAIN TRANSACTION CONDITIONS
- The Public Offer will close at 5.00pm (WST) on 1 June 2017.
- The Public Offer is expected to raise $7,875,000. The Public Offer will not proceed if this amount is not raised.
- The Public Offer under is conditional upon the following events occurring:
- (a)
the Acquisition Agreement becoming unconditional;
- (b)
Shareholders approving the Acquisition Resolutions; and
- (c)
ASX granting in-principle approval to reinstate the Shares to trading on ASX on conditions reasonably satisfactory to the Company.
PRO-FORMA CAPITAL STRUCTURE
- Offer Price per Share under the Public Offer
$0.02 per Share
- Offer Price per Option under the Public Offer
$0.01 per Option
- Cash raised under the Public Offer (before expenses)
$7,875,000
- Shares on issue prior to the Offers
52,676,035
- Shares to be offered under the Public Offer
350,000,000
- Options to be offered under the Public Offer
87,500,000
- Other Shares to be issued under the Secondary Offers
315,000,000
- Total number of Shares on issue following the Offers
717,736,035
- Ownership by existing shareholders at ASX relisting
7.34%
- Ownership by Keras at ASX relisting
31.35%
- Ownership by new investors under Public Offer at ASX relisting
48.77%
KEY EVENT
Lodgement of Prospectus with ASIC 5 May 2017 Opening Date for the Public Offer 13 May 2017 Shareholder Meeting 30 May 2017 Closing Date for the Public Offer 1 June 2017 Completion of the Acquisition 2 June 2017 Issue of Securities under the Offers 2 June 2017 Dispatch of holding statements 2 June 2017 Date for Shares to be reinstated to trading on ASX 15 June 2017
The above dates are indicative only and the Directors may alter this timetable at their absolute discretion.