26 Nov

Annual General Meeting Presentation

ANNUAL GENERAL MEETING 26 th November, 2021 2 IMPORTANT NOTICE No reliance: This presentation is a document that has been prepared by Ora Banda Mining Limited (“Company”, “OBM” or “Ora Banda”) for the pur pose of providing a company and technical overview to interested investors. None of the Company, nor any of its related bodie s c orporate, their respective directors, partners, employees or advisers or any other person ("Relevant Parties") makes any representations or w arr anty to, or takes responsibility for, the accuracy, reliability or completeness of the information contained in this document , t o the recipient of this document (“Recipient”), and nothing contained in it is, or may be relied upon as, a promise or representation, whether as to the past or future. Recipients of the document must make their own independent investigations, consideration and evaluation. By accepting th is document, the Recipient agrees that if it proceeds further with its investigations, consideration or evaluation of investing in the Company, it will ma ke and rely solely upon its own investigations and inquiries, and not upon this document. Limited disclosure: The information in this presentation does not purport to be complete, nor does it contain all the information that would be r equ ired in a disclosure statement or prospectus prepared in accordance with the Corporations Act 2001 ( Cth ). It should be read in conjunction with the Company’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are av ail able at www.asx.com.au. Seek your own advice: This presentation is not a recommendation to acquire Company shares and has been prepared without taking into account the ind ivi dual objectives, financial situation or needs of interested individuals. Before making an investment decision prospective inv est ors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek appropriate fin ancial, legal, taxation and other appropriate advice. Except to the extent prohibited by law, the Relevant Parties disclaim a ll liability that may otherwise arise due to any of this information being inaccurate or incomplete. By obtaining this document, the Recipient releases the Relevan t P arties from liability to the Recipient for any loss or damage that it may suffer or incur arising directly or indirectly out of or in connection with any use of or reliance on any of this information, whether such liability arises in contract, tort (including negligence) or otherwise. No offer to acquire Company shares: This presentation is not, and should not be considered, an invitation to acquire Company shares or any other financial produc ts, and neither this document nor any of its contents will form the basis of any contract or commitment. In particular, this docu me nt does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the acco unt or benefit of any ‘US person’ as defined in Regulation S under the U.S. Securities Act of 1993 (“Securities Act”). The Compan y’ s shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may n ot be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from regi str ation. Forward - looking statements: This presentation contains forward - looking statements which may be identified by words such as "believes", "estimates", "expects ', "intends", "may", "will", "would", "could", or "should" and other similar words that involve risks and uncertainties. Thes e s tatements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions t hat , as at the date of this presentation, are expected to take place. Such forward - looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, ass umptions and other important factors, many of which are beyond the control of the Company, the Directors and management of th e C ompany. These and other factors could cause actual results to differ materially from those expressed in any forward - looking statements. The Company has no intention to update or revise forward - looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in thi s p resentation, except where required by law. The Company cannot and does not give assurances that the results, performance or achievements expressed or implied in the for war d - looking statements contained in this presentation will actually occur and investors are cautioned not to place undue reliance on these forward - looking statements. Competent Person Statements The information in this announcement that relates to exploration results, and the Riverina, Riverina South, British Lion, Waihi, Golden Eagle, Callion , Sand King and Missouri Mineral Resources is based on information compiled under the supervision of Mr Ross Whittle - Herbert, an employee of Ora Banda Mining Limited, who is Member of the Australian Institute of Geoscientists. Mr Whittle - Herbert has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the ac tivity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Whittle - Herbert consents to the inclusion in the report of the matt ers based on his information in the form and context in which it appears. Sand King, Missouri, Riverina, Riverina South, British Lion, Waihi, Golden Eagle and Callion Mineral Resources are reported in accordance with the JORC 2012 code. 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 dated 15 December 2016 (Missouri) and 3 January 2017 (Sand King), 2 December 2019 (Riverina), 4 February 2020 (Waihi), 8 April 2020 (Golden Eagle), 15 May 2020 ( Callion ) and restated in market announcement “Davyhurst Gold Project - Ore Reserve Update” dated 26 May 2020. Mineral Resources other than Sand King, Missouri, Riverina, Riverina South, British Lion, Waihi, Golden Eagle and Callion were first reported in accordance with the JORC 2004 code in Swan Gold Mining Limited Prospectus released to the market on 13 February 2013. Mineral Resources other than Sand King, Missouri, Riverina, Riverina South, British Lion, Waihi, Golden Eagle and Callion have not been updated to comply with JORC Code 2012 on the basis that the information has not materially changed since it was first reported. The information in this report that relates to Ore Reserves is based on information compiled by Mr Geoff Davidson, who is an independent mining engineering consultant, and has sufficient relevant experience to advise Ora Banda Mining Limited on matte rs relating to mine design, mine scheduling, mining methodology and mining costs. Mr Davidson is a Fellow member of the of the Australian Institute of Mining and Metallurgy. Mr Davidson is satisfied that the information provided in this statement has b een determined to a feasibility level of accuracy or better , based on the data provided by Ora Banda Mining Limited. Mr Davidson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. 3 CORPORATE OVERVIEW Board of Directors Peter Mansell Non - executive Chairman • Corporate lawyer with over 40 years’ experience • Non - executive Chairman of Energy Resources of Australia Limited (Rio Tinto) and DRA Global Ltd Peter Nicholson Managing Director • Mining engineer with over 25 years of mining, private equity and executive leadership • Internationally experienced in a range of commodities and mining / processing methods David Quinlivan Non - executive Director • Mining engineer with significant mining and executive leadership experience • Non - executive Chairman of Silver Lake Resources Limited and Dalaroo Metals Ltd Keith Jones Non - executive Director • Chartered accountant with 38 years’ industry experience • Chairman of Coda Minerals Ltd and former Chairman of Deloitte Australia Mark Wheatley Non - executive Director • Chemical engineer and former investment banker with +30 years in the mining industries • Non - executive Chairman of Prospect Resources Ltd Management Tony Brazier Chief Financial Officer • Chartered accountant and senior finance professional with over 20 years’ experience across a range of industries including mining & metals, oil & gas, infrastructure and manufacturing Andrew Czerw GM Resource Development • Highly experienced geoscience professional with over 30 years of significant senior management experience in Australia and overseas Brendan Fyfe General Counsel • Highly experienced legal professional with over 20 years of significant resource industry experience in Australia and overseas Derek Byrne Chief Operating Officer • Highly experienced mining professional with over 35 years of significant mine leadership experience in both Australia and overseas Ora Banda Mining (ASX:OBM) Share Price (22 nd November 2021) A$/share 0.076 Shares on issue M 974.2 Options on issue M 25.6 Market Capitalisation A$M 74.0 Cash ( 30 th September 2 021) A$M 24.5 Debt ( 30 th September 2021 ) A$M - Enterprise Value A$M 49.5 Major Shareholder Hawke’s Point – 39.7% (19 th November, 2021) 4 INVESTMENT HIGHLIGHTS Kalgoorlie • Robust project 1 – 5 year mine life – 81kozpa – average annual gold production • Operations underpinned by high grade Ore Reserve – Mining Reserve of 6.2Mt @ 2.4 g/t for 470,000oz Au 2 • Three operating mines – Riverina, Missouri & Golden Eagle – 1.2Mtpa nameplate process plant operational – Continuing to build ore stocks • Mineral Resource of 23.1Mt @ 2.7g/t for 2.0Moz Au 2 – Exploration program targeting classification upgrades • “District Scale” exploration package – 1,210km 2 of highly prospective greenstone belt with ~200 strike km • Near mine opportunities • Greenfields opportunities • Open pit • Underground 1. Refer to ASX Announcement dated 30 June 2020 2. Refer to ASX Announcement dated 24 September 2021 1 2 3 4 5 Recap of Key DFS Metrics 1 • DFS base case undertaken at A$2,100/oz gold price: – Post - tax free cash flow of A$175 million – Average annual free cash flow of A$35 million – Rapid payback of 14 months – Post - tax NPV 6% of A$137 million 5 FOUR KEY DEPOSITS UNDERPIN MINE PRODUCTION Mine plan based on Ore Reserve of 6.2Mt @ 2.4g/t Au for 470koz Au 1 Deposit Mineral Resource 1 Mining Reserve 1 Comments Riverina 3.0 Mt @ 3.2 g/t for 300 koz 1.7 Mt @ 1.6 g/t for 86 koz • Open Pit & Underground Resources • Open Pit Reserve • Mineralisation remains open at depth, along strike and down plunge Sand King 2.5 Mt @ 3.5 g/t for 287 koz 1.2 Mt @ 2.7 g/t for 110 koz • Open Pit & Underground Resources • Open Pit Reserve • Mine developed to 150m vertical depth • Down plunge drilling confirms mineralisation is open Missouri 2.1 Mt @ 3.4 g/t for 227 koz 1.6 Mt @ 2.6 g/t for 130 koz • Open Pit & Underground Resources • Open Pit Reserve Waihi 2.5 Mt @ 2.6 g/t for 206 koz 1.3 Mt @ 2.4 g/t for 110 koz • Open Pit & Underground Resource • Open Pit Reserve • Underground potential remains below pits Callion 0.7 Mt @ 4.9 g/t for 107 koz 0.23 Mt @ 2.7 g/t for 21 koz • Open Pit & Underground Resources • Underground potential remains below pits Golden Eagle 0.4 Mt @ 4.1 g/t for 53 koz 0.14 Mt @ 3.5 g/t for 15 koz • Underground only TOTAL 11.1 Mt @ 3.3 g/t for 1.2 Moz 6.2 Mt @ 2.4 g/t for 470 koz 1. Refer to ASX Announcement dated 29 July 2021 6 MINING: GRADES INCREASING • Ore sources diversified • Moving to open pit mining • Average grade increasing • Assessing further underground opportunities Qtrly data 1 month 7 - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 Q2'21 Q3'21 Q4'21 Q1'22 Qtr to date Gold Produced (oz) PROCESSING: PRODUCTION OUNCES IMPROVING • Increasing: ? Throughput ? Grade ? Gold production • New Skala screens installed - 50,000 100,000 150,000 200,000 250,000 Q2'21 Q3'21 Q4'21 Q1'22 October Ore Processed (t) - 0.50 1.00 1.50 2.00 2.50 Q2'21 Q3'21 Q4'21 Q1'22 October Head Grade (gpt) Qtrly data 1 month Qtrly data Qtr to date Qtrly data 1 month 8 - 500 1,000 1,500 2,000 2,500 3,000 Q2'21 Q3'21 Q4'21 Q1'22 October OBM Costs and Gold Price C1 Cash Costs ($/oz) AISC ($/oz) Spot Gold Price (A$/oz)* COSTS: FALLING PER OUNCE • Capitalised stripping at Missouri • Tailings Facility Cell construction complete Qtrly data 1 month *A$ at quarter or month end 9 • 1,200km 2 of tenements to explore • 12 major mineralised trends identified • Over 200 known gold occurrences and prospects • Excellent exploration intercepts: MINERALISED TRENDS MINERALISED TRENDS APPROX. STRIKE LENGTH (km) Riverina Trend 17 Mulline Trend 17 Sunraysia Trend 4 LOI Trend 7 Golden Eagle Trend 7 Round Dam - Wahalla Trend 26 Callion Trend 10 Chameleon Trend 6 Python Trend 19 Lizard Trend 19 Sand King - Black Rabbit Trend 20 Theil Well Trend 5 TOTAL 157 Santalum 16m @ 1.20g/t (grass roots) Sunraysia North 10m @ 2.22g/t (grass roots) Sky 19m @ 1.53g/t (grass roots) Flame 25m @ 4.64g/t (intermediate) British Lion 5m @ 10.40g/t (intermediate) Palmerston East 4m @ 15.30g/t (intermediate) Victoria Workings 5m @ 30. 69g/t (intermediate) Riverina Deeps 14m @ 6.60g/t (advanced) Riverina Deeps 5m @ 16.70g/t (advanced) Riverina South 13m @ 3.20g/t (advanced) Iguana 21m @ 3.20g/t (advanced) Iguana 9m @ 7.60g/t (advanced) 10 DISTRICT SCALE LANDHOLDING & EXPLORATION 11 SITE PHOTOGRAPHS 12 Peter Nicholson Managing Director Email: admin@orabandamining.com.au Phone: +61 8 6365 4548
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