unlocking australia’s next significant gold region · 3 warrawoona project in the emerging...
TRANSCRIPT
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ASX:CAI
ROADSHOW PRESENTATION INCL NOVO - SEPTEMBER 2017
UNLOCKING AUSTRALIA’S NEXT SIGNIFICANT GOLD REGION
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DISCLAIMER
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 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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WARRAWOONA PROJECT IN THE EMERGING PILBARA GOLDFIELD OF WAUNLOCKING THE POTENTIAL OF THE PILBARA
• Gold belt consolidated for the first time• Existing Resource of 410,000oz at 2.2g/t from surface• Significant exploration upside defined with immediate
drill targets, with drilling already under way
HIGH QUALITY ASSET
AGGRESSIVE EXPLORATION PROGRAM
• Well funded Post over-subscribed capital raising• 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
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CORPORATE OVERVIEW
CAPITAL STRUCTURESHARES ON ISSUE 730.7
Million
MARKET CAP(undiluted at A$0.045)
$32.9Million
CASH(end June Qtr)
$4.4Million
DEBT $0
ENTERPRISE VALUE $21.2Million
OPTIONS(will raise $4.7m if exercised)
192.5Million1
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 REEVESMANAGING DIRECTOR(Mining Engineer)
25 years’ mining experience in Australia, Africa and Europe. GCM, Delta Gold, Zimplats, European Metals Holdings.
ADAM MIETHKENON-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-BROWNNON-EXECUTIVE DIRECTOR(Mining Engineer)
35 years’ international mining experience, managing gold mines in Australia and internationally, Medusa Mining, Focus Minerals.
JANE ALLENGEOLOGY MANAGER
30 years international experience with Anglogold Ashanti, Resolute Mining Limited, Avion Gold Corporation and GCM
JAMES CARTERCOMPANY SECRETARY AND CFO
CPA and Chartered Company Secretarywith 20 years’ experience. Straits Resources, Keras PLC.
1. 118.5m @ 2.5c, 50m @ 2.0c and 24m @ 3.0c2. On 500,000 ounces of Indicated Resource
3. On completion of a positive PFS
ASX:CAI
* Keras PLC shares escrowed for 24 months, CAI board and management own 18 % of Keras
4%
5%
24%
14%
52%
CAI Shareholder BreakdownBoard & Mgmt Direct
Board and Mgmt via Keras
Keras Plc*
Institutions
Other
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CALIDUS TIMELINESYSTEMATICALLY UNLOCKING THE POTENTIAL OF WARRAWOONA
COMPLETED Initial
mapping and 600m
drill program
completed.
COMPLETED Listing of Calidus
Resources (ASX:CAI) onto the
ASX 22/06/2017
COMMENCED 12,600m drill program and met test work – June 2017
COMPLETED Acquisition of 50% of Epminex
tenements July 2017
COMPLETED Acquisition
of Novo tenements Sep 2017
Oct 2017 Complete
Drilling
Late 2017 Resource
upgrade and confirmation of priorities
for the remainder of
the year
Apr 18 –Sep 18 Further
extensional and regional
drilling planned
H2 2018 Possible
Commencement of Pre-
Feasibility Study
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LOCATED IN AREA WITH PROVEN RESOURCE POTENTIAL WARRAWOONA GOLD PROJECT
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CALIDUS (ADJ) – HOT, FIERY
CALIDUS – WHATS IN THE NAME
Marble Bar holds the world record for the longest sequence of days above 100°F (o r 37.8 ° C). The tem perature , m easured under standard expo sure co nditio ns, reached o r exceeded the century m ark every day fro m 31 Octo ber 1923 to 7 April 1924, a to tal o f 160 days.
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TARGETING A LARGE AND RAPID INCREASE IN RESOURCE WITH MULTIPLE TARGETS IDENTIFIED
WARRAWOONA GOLD PROJECT
HISTORICAL GOLD MINING DISTRICT • First mined in 1897• +200 historic mines and
fragmented tenement ownership• Last major drill campaign in 1991
PROJECT HIGHLIGHTS• 363km2 under control, application
or option • Resource and initial focus located
at Klondyke • Limited regional drilling over
50km of untested outcropping shears
1. Reported in accordance with JORC (2012) Guidelines – Includes Klondyke and Copenhagen
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CURRENT RESOURCE ON KLONDYKE SHEARKLONDYKE DEPOSIT
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LARGE RESOURCE POTENTIAL!KLONDYKE DEPOSIT
• Current Resource:• 5.6Mt at 2.08g/t Au for 374,000oz (0.8g/t wireframe)• 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
ore 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
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Drill Program Underway
DRILLLING UNDERWAY AT WARRAWOONATICKING THE BOXES AHEAD OF SCHEDULE
• The initial 11,500 RC drill program is underway with initial drillholes targeting the “gap area” of the current Klondyke Resource
• The program is divided into the following areas:
• 7,000m into the “gap area”, with an aim to link the Klondyke Resource;
• 4,000m into the existing resource with systematic in-fill drilling;
• 500m at the Fieldings Gully deposit;• 1,100m of HQ core into the main
Klondyke resource and Copenhagen, Coronation and Fieldings Gully satellite deposits.
• The program is anticipated to deliver continuous news flow aimed at increasing the current resource size and category
Drill rig at Warrawoona (14/06/2017)
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KLONDYKE DEPOSIT
Histor ical Mine Working
LEGEND
JORC 2012 Resource
Interpreted Faul t
Klondyke King18g/t
Cuban106g/t
Kopke’s Reward90g/t
Klondyke Queen187g/t
OUTCROPPING, CONTINUOUS MINERALISATION WITH HISTORICAL HIGH GRADE GOLD WORKINGS
View
St George167g/t
* Al l grades shown are l ife of mine average grades – source MINDEX
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KLONDYKE DEPOSIT
Klondyke Queen187g/t
Klondyke Boulder40g/t
Gift46g/t
Princess of Alaska47g/t
Copenhagen, CoronationFieldings Gul ly
EXTENSIONAL DRILLING TARGETS - WELL DEFINED
View
Gauntlet50g/t
Great Western52g/t
British Exploration of Aus.184g/t
* Al l grades shown are l ife of mine average grades – source MINDEX
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HISTORICAL DRILLING IS LIMITED, CONSTRAINED AND SHALLOWKLONDYKE – EXPLORATION UPSIDE
• 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
* Al l grades shown are l ife of mine average grades – source MINDEX
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KLONDYKE DEPOSIT
INITIAL DRILL PROGRAMME
• 40 holes announced, best intercepts recorded 6m @ 63.31g/t Au and [email protected]/t Au• All holes have hit ore grade mineralisation to-date
INITIALLY TARGETING THE’ GAP’ ZONE AND RESOURCE INFILL
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CURRENT DRILLING IN ‘GAP’ ZONEKLONDYKE DEPOSIT
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KLONDYKE SECTIONS
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HIGH GRADE SATELLITE TARGETS – WITHIN 10KM OF KLONDYKEREGIONAL UPSIDE
• Further upside via additional largely unexplored multiple shears to west of main shear• Covers seven mining licences and two exploration licences/applications
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REGIONAL UPSIDE
AA’
A A’
COPENHAGEN• JORC 2012 Inferred Mineral Resource of 180,000t @ 6.1g/t to maximum of 100m depth
and along 140m of strike• Open in all directions• Drilling planned this quarter• Mapping confirms prospectivity to be followed up with targeted soil sampling
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REGIONAL UPSIDE
CORONATION• Lies 3km along strike of Copenhagen
and is drilled over 190m strike length9m @ 5.21 g/t from 9m8m @ 7.64 g/t from 64m3m @ 16.67 g/t from 16m12m @ 7.98 g/t from surface4m @ 5.71 g/t from 12m2m @ 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 53m4m @ 5.29 g/t from 12m3m @ 17.58g/t from 20m
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FURTHER REGIONAL UPSIDE
MARBLE BAR GOLDFIELD
• Produced 170,000oz from 196,500t, no modern exploration• 35 recorded old workings on tenement
MARBLE BAR GOLDFIELD AND EXTENSIONS OF THE GREENSTONE BELT
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ASSISTS WITH RAPID COST EFFECTIVE DEVELOPMENTWELL SERVICED BY EXISTING INFRASTRUCTURE
• 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
• Mad Clappin Harry’s, the best coffee in the NW!
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DCNWAFS2R
KIN
EMR
EGS
GCYGOR
CAI
RTGEAR
CDVCMM
BSR
ABU
PGO
AUC
RVYGPR
CAS
CRB
AZM
ORR
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 5,000.0
Reso
urce
Gra
de (g
/t A
u)
Resource Ounces
…ON GRADE AND OUNCES WHERE CALIDUS FITS IN
CAI
*Bubble Size Represents Enterprise Value
1. Data at 24 July 2017
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A FRESH, WELL CAPITALISED STORY IN A TIER 1 JURISDICTION
REASONS TO INVEST
GRANTED MINING LEASES in an emerging Australian gold district withworld class infrastructure
EXISTING HIGH GRADE RESOURCE with predictable and tangible brownfieldsexploration upside and drill ready targets
POTENTIAL FOR NEW DISCOVERIES given lack of modern or systematicexploration and large number of existing targets
PROVEN BOARD AND MANAGEMENT TEAM in gold exploration, developmentand mining
One of the few INDEPENDENT NEAR-TERM GOLD DEVELOPMENT companieson the ASX
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CONTACT
DAVE REEVESManaging Director
mailto:[email protected]
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APPENDIX ONEJORC 2012 RESOURCE
DepositJORC
CategoryCut-Off Grade Tonnes(Mt) Grade Metal
Au (g/t) Au (g/t) (Koz)Klondyke Inferred 0.5 5.6 2.08 374Copenhagen Inferred 0.5 0.18 6.1 36
Total 0.5 5.78 2.21 410
Sheet1
DepositMeasuredIndicatedInferredTotal
MtAu (g/t)OzMtAu (g/t)OzMtAu (g/t)OzMtAu (g/t)Oz
Klondyke5.602.08374,5345.602.08374,534
Copenhagen0.186.1035,3050.186.1035,305
Total5.782.21409,8395.782.21409,839
* All reported at a 0.5g/t Au cut-off grade
DepositJORC CategoryCut-Off GradeTonnes(Mt)GradeMetal
Au (g/t)Au (g/t)(Koz)
KlondykeInferred0.55.62.08374
CopenhagenInferred0.50.186.136
Total0.55.782.21410
Slide Number 1DISCLAIMERUNLOCKING THE POTENTIAL OF THE PILBARACORPORATE OVERVIEW �CALIDUS TIMELINE�SYSTEMATICALLY UNLOCKING THE POTENTIAL OF WARRAWOONAWARRAWOONA GOLD PROJECTCALIDUS – WHATS IN THE NAMEWARRAWOONA GOLD PROJECTKLONDYKE DEPOSITKLONDYKE DEPOSITDRILLLING UNDERWAY AT WARRAWOONA�TICKING THE BOXES AHEAD OF SCHEDULE��KLONDYKE DEPOSITKLONDYKE DEPOSITKLONDYKE – EXPLORATION UPSIDEKLONDYKE DEPOSITKLONDYKE DEPOSITKLONDYKE SECTIONSREGIONAL UPSIDEREGIONAL UPSIDEREGIONAL UPSIDEFURTHER REGIONAL UPSIDEWELL SERVICED BY EXISTING INFRASTRUCTUREWHERE CALIDUS FITS INREASONS TO INVESTSlide Number 25APPENDIX ONE