presentation – minerals 260 ipo and exploration …
TRANSCRIPT
ASX RELEASE | 12 October 2021 | ASX:MI6
PRESENTATION – MINERALS 260 IPO AND EXPLORATION BRIEFING Minerals 260 Limited (“Minerals 260” or “Company”) is pleased to release the attached presentation for use at today’s investor forum and the upcoming 2021 Resources Rising Stars-MiningNews.net Investor Conference on 14 October 2021.
The announcement has been authorised for release by the Managing Director.
David Richards Managing Director For More Information: David Richards Managing Director T: +61 8 6556 6020 [email protected]
Investor Relations: Nicholas Read Read Corporate T: +61 8 9388 1474 [email protected]
Minerals 260 Limited 1Minerals 260 Limited 1
Exploring Australia’s most exciting newmineral province – the Julimar Region, WA
David RichardsManaging Director
OCTOBER 2021
ASX : MI6
Minerals 260 Limited 2
Important Notices and DisclaimerForward Looking Statements
This presentation may contain forward-looking statements, guidance, forecasts, estimates, prospects,projections or statements in relation to future matters that may involve risks or uncertainties and may involvesignificant items of subjective judgement and assumptions of future events that may or may not eventuate(Forward Statements). Forward Statements can generally be identified by the use of forward looking wordssuch as "anticipate", "estimates", "will", "should", "could", "may", "expects", "plans", "forecast", "target" orsimilar expressions. Forward Statements including indications, guidance or outlook on future revenues,distributions or financial position and performance or return or growth in underlying investments areprovided as a general guide only and should not be relied upon as an indication or guarantee of futureperformance. To the extent that certain statements contained in this presentation may constitute 'ForwardStatements' or statements about forward looking matters, then the information reflects the Company's (andno other party's) intent, belief or expectations as at the date of this presentation. No independent third partyhas reviewed the reasonableness of any such statements or assumptions. None of the Company, its relatedbodies corporate and their respective officers, directors, employees, advisers, partners, affiliates and agents(together, the MI6 Parties) represent or warrant that such Forward Statements will be achieved or will proveto be correct or gives any warranty, express or implied, as to the accuracy, completeness, likelihood ofachievement or reasonableness of any Forward Statement contained in this presentation. Except as requiredby law or regulation, the Company assumes no obligation to release updates or revisions to ForwardStatements to reflect any changes. Recipients should form their own views as to these matters and anyassumptions on which any of the Forward Statements are based and not place reliance on such statements.
All dollar values are in Australian dollars ($ or A$) unless otherwise stated.
Disclaimer
No party other than the Company has authorised, permitted or caused the issue, submission, dispatch orprovision of this presentation, or takes any responsibility for, or makes or purports to make any statement,representation or undertaking in this presentation and there is no statement in this presentation that is basedon any statement by any other party. No person, either as a director, partner of or in the employment of theCompany has any authority to make, imply, or give any representation or warranty whatsoever in relation tothe information contained in this presentation. None of the MI6 Parties take any responsibility for anyinformation in this presentation or any action taken by you on the basis of such information.
To the maximum extent permitted by law, the MI6 Parties:
• exclude and disclaim all liability, including (without limitation) any liability for fraud or negligence, forany expenses, losses, damages or costs incurred either as a result of the information in thispresentation being inaccurate or incomplete in any way for any reason, or otherwise arising inconnection with this presentation; and
• make no representation or warranty, express or implied, as to the currency, accuracy, reliability orcompleteness of information in this presentation.
Competent Person Statement
The Information in this Presentation that relates to Exploration Results is extracted from:
• the Minerals 260 Limited Prospectus dated 19 August 2021 which is available onwww.minerals260.com.au; and
• Liontown Resources Limited ASX announcement titled “Strong PGE and gold anomalism confirmed atthe Koojan JV Project, WA” released on 14 July 2021 which is available on www.ltresources.com.au.
The Company confirms that it is not aware of any new information or data that materially affects theinformation included in the original market announcements and that all material assumptions and technicalparameters underpinning the estimates or production targets or forecast financial information derived from aproduction target (as applicable) in the relevant market announcements continue to apply and have notmaterially changed. The Company confirms that the form and context in which the Competent Person’sfindings are presented have not been materially modified from the original market announcements.
Authorisation
This Presentation has been authorised for release by the Board.
Minerals 260 Limited 3
Quality Projects, Proven Board andStrong Financial Position
Moora/Koojan JV Projects(Gold-PGE-Nickel-Copper)Emerging mineral province following discovery of Julimar PGE-nickel-copper–gold system
~1,100km2
Previously unexplored
Early exploration results– up to 43m @ 1.8g/t gold
Funding to accelerate exploration
KEY ASSET
Anthony CiprianoChairman+30 years (Chartered Accountant)Director of Liontown Resources and Former Senior Partner at Deloitte
David RichardsManaging Director+35 years (Geologist) DiscoveredKathleen Valley Lithium Depositand Vera Nancy Gold Deposits
Tim GoyderNon-Executive Director+40 years (Mining Executive) Chairmanand Major Shareholder LiontownResources and Chalice Mining
Craig WilliamsNon-Executive Director+40 years (Geologist) Director of Liontown Resources and Co-founderand CEO of Equinox Minerals
Shares on Issue 220M
Market Capitalisation $110M (at 50cps)
Top 20 Shareholders ~40%
Directors ~18%
Cash ~$28M
Corporate Snapshot ASX CODE: MI6
Minerals 260 Limited 4
Item
Offer price per share A$0.50/share
Gross proceeds $30 million
Total Securities on issue on completion 220,000,000
Market Capitalisation on listing $110,000,000
Enterprise Value on Listing $80,000,000
% Held by LTR shareholders on listing ~94.5%
Demerger/IPO Outcomes
4
Details Use of Funds
Project Activity Expenditure
Moora and Koojan JV
Drilling and related $12,810,000
Other studies $1,350,000
Dingo Rocks and Yalwest Target generation $340,000
Business Development Acquisition costs $4,000,000
Working CapitalCorporate overheads and program acceleration
$9,600,000
Demerger/IPO costsASX fees, Broker fees, Independent experts
$1,900,000
Total $30,000,000
Key PointsStrong LTR shareholder and director (~$2M) support
Strong new institutional and HNW support
Significant scale back
Minerals 260 Limited 5
2021Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
RC/DD DrillingResource DrillingResource EstimationMetallurgyScoping Study
Mt Yule RC/DD DrillingAeromagneticsEM/IPGeochemical ReviewAuger Sampling
Other RC/DD DrillingAeromagneticsEM/IPRC/DD DrillingAuger SamplingGravityAeromagneticsRC/DD DrillingTenement GrantGeochemistryRecon. Drilling
Yalwest All
Dingo Rocks All
Angepena
Moora
AllKoojan JV
Target Definition
2022 2023Project Prospect Activity
Proposed Exploration Timeline*
* All future programs subject to ongoing exploration results # Timing of grant to be confirmed
#
Minerals 260 Limited 7
Strategic Holding in an Emerging Precious and Base Metal Province
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Second largest land position (~1,100km2) for an ASX-listed explorer in Julimar Mineral Province
Acquired prior to Julimar discovery
Located in same geological terrain as Julimar
Largely unexplored prior to Liontown commencing work
Initial exploration defines multiple drill targets
Maiden drilling intersects ore grades and widths with all mineralised trends open
Minerals 260 Limited 8
Julimar TrendDefined by northerly extension of regional magnetic dataIncludes new Bourbana anomaly
Mt Yule Corridor (MYC)Defined by coincident geochemical and geophysical anomalismMaiden drill intercepts up to 43m @ 1.8g/t Au (Angepena) and 9m @ 2.1% Cu (Northern Zone)Includes new Mallory anomaly
Bindi Bindi Nickel TrendHistoric Poseidon (1968) drill intersections up to 21m @ 0.6% Ni from surface
Regional Magnetic Image
Prospective Trends
Minerals 260 Limited 9
Mt Yule Magnetic Anomaly (100%)
• Large (7x2.5km) magnetic anomaly = mafic/ultramafic intrusion
• Maiden drilling program has defined multiple mineralised zones:
Angepena (Au)• +900m long zone• up to 43m @ 1.8g/t AuNorthern (Cu/Au)• +2km long zone• Multiple copper-gold intersections• Up to 9m @ 2.1% Cu and 7m @
1.1g/t AuSEZ (Au/Cu)• Up to 17m @ 0.4g/t Au and 12m @
0.2% Cu (EoH)• All trends remain open
Minerals 260 Limited 1111
Koojan JV (Right to earn 51%)Significant geochemical anomalies defined
Geochemical Anomalies Bourbana Anomaly – Gold image
Minerals 260 Limited 1212
Koojan JV – Mallory Anomaly (Right to earn51%)
Mallory Anomaly – PGE image Mallory Anomaly – Gold image
Minerals 260 Limited 13
AngepenaDiamond core drilling to confirm style and orientation of mineralization Reverse circulation drilling to define limits of system
Greater Moora/Koojan JV AreaFollow up RC drilling of other Mt Yule targets Prioritise other targets Detailed aeromagnetic survey Ground EM Surveys Define PGE/Ni/Cu vectors
Infill/first pass geochemical sampling Drill testing of new targets
* All future programs subject to ongoing exploration results
13
Next Steps*
Mt Yule/Northern Zone – Drill SectionOff hole conductor may indicate primary sulphide zone
Minerals 260 Limited 1515
Dingo Rocks – Albany Fraser Province
Magnetic Image
• Located within Albany Fraser Province close to margin with Archaean Yilgarn Craton
• Prospective geology largely obscured by transported cover
• Previous exploration largely restricted to near surface geochemical sampling and limited drilling along tracks
• Multiple magnetic highs interpreted to indicate mafic/ultramafic units
Minerals 260 Limited 16
• Located within Murchison Province of Archaean Yilgarn Craton
• Regional magnetic data indicate greenstone lithologies prospective for gold and base metals
• No previous recorded exploration
16
Yalwest – Murchison Province
Magnetic Image
Minerals 260 Limited 17
Strategic land position in emerging Julimar Mineral ProvinceEarly drill success confirms potential for one or more significant discoveries Drill ready targets – Angepena drilling program scheduled late October 2021Key Land Access Agreements in placeLargely unexploredHighly successful management, with proven track record of commercial discoveriesMining friendly jurisdiction
Investment Case
Minerals 260 Limited 18
Thank You
For more information please visit www.minerals260.com.au or call:
Clint McGhieCompany SecretaryT: +61 8 6556 [email protected]
David RichardsManaging DirectorT: +61 8 6556 [email protected]
ASX : MI6
“Licensed to Drill”