Achmmach Tin Project, Morocco DFS complete, Funding Underway - Melbourne Mining Club, 16 July 2018 Russell Clark, CEO
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Achmmach Tin Project, Morocco
DFS complete, Funding Underway
Melbourne Mining Club, 16 July 2018
Russell Clark, CEO
DISCLAIMER
Summary of information
This presentation has been prepared by and is the sole responsibility of Kasbah Resources Limited (Kasbah). This presentation contains general and background information about Kasbah's activities current as at the date of the presentation and should not be considered to be comprehensive
or to comprise all the information that an investor should consider when making an investment decision and does not contain all information about Kasbah's assets and liabilities, financial position and performance, profits and losses, prospects, and the rights and liabilities attaching to
Kasbah's securities. The information in this presentation should be read in conjunction with Kasbah's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, available at www.asx.com.au. The information in this presentation is based on
Kasbah's own information and estimates and has not been independently verified. Kasbah is not responsible for providing updated information and assumes no responsibility to do so. In attending this presentation or viewing this document you agree to be bound by the following terms and
conditions. Any investment in Kasbah should be considered speculative and there is no guarantee that they will make a return on capital invested, that dividends would be paid, or that there will be an increase in the value of the investment in the future.
Not Financial Product Advice
This presentation is not financial product, investment advice or a recommendation to acquire Kasbah securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision prospective investors should
consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. Kasbah is not licensed to provide financial product advice in respect of its
securities or any other financial products. Cooling off rights do not apply to the acquisition of Kasbah securities.
Disclaimer
Each of Kasbah and its related bodies corporate and each of its respective directors, agents, officers, employees and advisers expressly disclaim, to the maximum extent permitted by law, all liabilities (however caused, including negligence) in respect of, make no representations regarding,
and take no responsibility for, any part of this presentation and make no representation or warranty as to the currency, accuracy, reliability or completeness of any information, statements, opinions, conclusions or representations contained in this presentation. In particular, this presentation
does not constitute, and shall not be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Kasbah.
Forward-Looking Statements
This presentation contains forward-looking statements which involve a number of risks and uncertainties. Forward-looking statements include, but are not limited to, expectations regarding future performance, costs, production levels or rates, mineral reserves and resources, the financial
position of Kasbah, industry growth and other trend projections. Often, but not always, forward-looking information can be identified by the use of words such as "plans, "expects", "is expected", "is expecting", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes", or variations (including negative variations) of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Such information is based on assumptions and judgements of management regarding
future events and results. The purpose of forward-looking statements is to provide the audience with information about management's expectations and plans.
Although Kasbah believes it has a reasonable basis for making these statements which reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information, such statements involve risk and uncertainties and no assurance can be
given that actual results will be consistent with these forward-looking statements. Such factors include, among others, changes in market conditions, future commodity prices and development and/or exploration activities. Should one or more of the risks or uncertainties materialise, or
should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this presentation.
Kasbah believes it has a reasonable basis for making the forward-looking statements in this presentation, including with respect to any production targets and economic evaluation, based on the information contained in Kasbah's ASX announcement entitled “Kasbah delivers positive
Achmmach Tin Project Definitive Feasibility Study” and “Achmmach Tin Project 2018 Definitive Feasibility Study Summary” dated 16 July 2018.
No obligation is assumed to update any forward-looking statements if these beliefs, opinions and estimates should change or to reflect other future developments, except in accordance with applicable securities laws. All forward-looking statements made in this presentation are qualified by
the foregoing cautionary statements.
Not an Offer
This presentation is not a prospectus, product disclosure document or other offering document under Australian law (and will not be lodged with ASIC) or any other law. This presentation is for information purposes only and should not be considered as, an offer or an invitation to acquire
securities in Kasbah or any other financial products and neither this document nor any of its contents will form the basis of any contract or commitment. This presentation must not be disclosed to any other party and does not carry any right of publication. Neither this presentation nor any
of its contents may be reproduced or used for any other purpose without the prior written consent of Kasbah.
The distribution of this presentation in jurisdictions other than Australia may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions.
No Distribution in the US
This presentation has been prepared for publication in Australia and may not be released or distributed in the United States. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. Any securities described in this presentation
have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.
Competent Persons Statement
The information in this presentation that relates to the definitive feasibility study, Ore Reserves and Mineral Resources at the Achmmach Tin Project is extracted from the announcements entitled Kasbah delivers positive Achmmach Tin Project Definitive Feasibility Study” and “Achmmach
Tin Project 2018 Definitive Feasibility Study Summary” dated 16 July 2018 and is available to view on Kasbah's website at www.kasbahresources.com.
Kasbah confirms that: a) it is not aware of any new information or data that materially affects the information included in the original announcements; b) all material assumptions and technical parameters underpinning the Ore Reserves and Mineral Resources included in the original
announcement continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in this presentation have not been materially modified from the original announcements.
2
KASBAH RESOURCES - OVERVIEW
ASX LISTED TIN PROJECT
ASX:KAS
NEW BOARD &
MANAGEMENT - 2017
STRONG INVESTOR BASE
Pala, Lion, Acorn, Braham, Traxys, Thaisarco
ACHMMACH TIN PROJECT
JV: 75% KAS, 20% Toyota Tsusho, 5% Nittetsu Mining
Permitted, Approved ESIA
750ktpa Underground mining / conventional processing
4,500tpa tin in concentrate (60% Sn)
DFS completed
Funding, offtake, engineering activities underway
Strong tin price outlook
3
CORPORATE SNAPSHOT ASX:KAS
CORPORATE SNAPSHOT MAJOR SHAREHOLDERS
SHARE PRICE 11/7/2018 ISSUED SHARED MARKET CAPITALISATION Pala 21.5%
$0.015 1,045m $14.6M Lion Africa 13.1%
Braham 4.9%
KEY PERSONNEL Traxys 4.3%
John Gooding Russell Clark Evan Spencer Keith Pollocks Acorn Capital 3.7%
CHAIRMAN CEO COO CFO
Thaisarco 3.0%
Top 20 62.3%
TIN PRICE
SHARE PRICE
4
Video
METALS MOST IMPACTED BY NEW TECHNOLOGY
Source: Rio Tinto, MIT
6
TIN PRODUCTION VS CONSUMPTION ‘000 TONNES
Potential New Mine Supply:
21 Projects identified 10 have no reserves 3 are tailings projects 7 data unavailable
450
'000 TONNES
400
NEW SUPPLY
350
SECONDARY REFINED TIN
PRODUCTION
300
EXISTING MINE PRODUCTION
250
2016 2017 2018 2019 2020 2021 2022
Source: ITA
11
NEW CAPACITY FROM WHERE?
M&I Resources a pre-requisite for Mining Reserves
250
CONTAINED TIN ('000T
200
M&I RESOURCE
150
100
SN)
50
0
Source: Tamesis, Company reports
10
VISIBLE TOTAL TIN STOCKS
200
150
TONNES
100 Current stocks equivalent
to 4 weeks production
50
0
London Metal Exchange LME Producers & Consumer
US Strategic Stockpile Shanghi Futures Exchange SHFE
Source: ITA
8
TIN PRICE
Source data: ITAACHMMACH TIN PROJECT JV - OVERVIEW
OVERVIEW
• 120,000m of drilling = 14.9Mt Resource • 10 year mine life
• 2018 JORC Reserve of • 4,500tpa Sn in premium 60% concentrate
7.0 Mt @ 0.82% Sn • Equivalent to 1.5% of global tin production
• 58,000t of contained Tin • Projected to be 1st quartile low cost producer
13Achmmach Reserves & Resources July 2018
Achmmach Ore Reserve
Proved Probable Total
Achmmach Tin Tin Tin
Ore (t) % Sn Ore (t) % Sn Ore (t) % Sn
Metal (t) Metal (t) Metal (t)
TOTAL 1,100,000 0.99 11,000 5,900,000 0.79 47,000 7,000,000 0.82 58,000
Calculations have been rounded to the nearest 100,000 t of ore, 0.01% Sn grade and 1,000 t tin metal. Rounding errors may be present.
Achmmach Mineral Resources
Category Tonnes (M) Sn % Contained Tin (Kt) Notes:
• Mineral Resources are inclusive of Ore Reserves
• Mineral Resources reported to cut-off grade of 0.5% Sn
Measured 1.6 1.00 16.1 • Ore Reserves per announcement 16 July 2018
• Refer to Competent Persons Statement at the end of this presentation
Indicated 13.3 0.81 111.2
Inferred - - -
Total 14.9 0.85% 127.3Underground Mining at Achmmach
• Contract mining
• Decline access from surface
• Open stoping mining method
• Cemented rock fill as support
• Multiple mining zones
• To 500m deep
• Ore bodies open along strike
• Ore bodies open at depth
14 13Processing at Achmmach
MINE
ROM Ore Feed Two Stage Crushing Ore Sorter
Filter Deslime Gravity
Flotation HPGR/Ball Mill
(Dewater) (Cyclones) (Spirals/Tables)
Bag Container Trucking Shipping
(Export)
14DFS Outcomes - Physicals
Annual Production
Ore Throughput 750Kt
0.82% Sn
Ore Grade
77.2%
Tin Recovery
4,500t
Average Annual Tin Production (in concentrate)
60% Sn
Concentrate Grade
10 years
Mine Life
14 15DFS Outcomes - Financials
Tin Price US$21,000
Discount Rate (real) 8%
45,000 Tin Producers Cash Cost
US$96.4m
Capital Cost
NPV (real), post tax US$98.1m
Curve 2021 (US$/t)
23%
IRR, post tax
C1 cash costs US$9,176/t Sn Achm
US$13,695/t Sn
C3 cash costs
AISC US$11,435/t Sn
-5,000
0
100
50
10
20
30
40
60
70
80
90
US$444m
EBITDA
Cumulative Sn Production (%)
Source:
ITA
14 16EXPLORATION UPSIDE
El Hammam Fluorite Mine
Achmmach Tin Project
Multiple Parallel Lodes
Open at Depth & Along
Strike
Bou El Jaj Prospect
Located 13 km from
Achmmach
Deeper, Achmmach Style Sn
mineralization
Follow up drilling being
planned
17
16Next Steps: 6-9 Months
Offtake Negotiations
Secure Project Funding
Select and Secure EPC Engineer
Select and Secure Mining Contractor
Secure Investment Agreement With Morocco
15 18KASBAH RESOURCES – VALUE PROPOSITION
Strong board and management team, supportive investors
One of the world’s largest and most advanced undeveloped tin projects
2018 DFS complete, Attractive NPV (US$98m) and IRR (23%)
Long mine-life, Low cost conventional processing
Rising tin prices driven by demand growth and declining production
Mining-friendly, “Non-Conflict” jurisdiction at the Gateway to Europe
Leverage to growth in battery/ EV/ renewable energy market
19COMPETENT PERSONS STATEMENT The July 2018 Ore Reserve estimate is based on work completed by Mr Matt Keenan, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Keenan is a full time employee of Entech Pty Ltd and has sufficient experience which is relevant to the activity 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 Keenan consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The Ore Reserve estimate is based on JORC-compliant Mineral Resource estimates which are unchanged from the most recent previous Ore Reserve estimate announced in July 2016. These Mineral Resources were estimated by independent geological consultants Quantitative Group Pty Ltd (QG) (Job, 2013 and Job, 2014). This Ore Reserve estimate represents the unmined Mineral Resources, with modifying cost and mining factors applied. Geotechnical input was provided by independent geotechnical consultants Mining One Pty Ltd to a DFS level of detail. The information in this announcement that relates to Kasbah Resources Limited’s Mineral Resource estimates for the Achmmach Tin Project is based on information compiled by Michael Job, who is a full time employee of Quantitative Group Pty Ltd and a Fellow of the Australasian Institute of Mining and Metallurgy. Michael Job has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity 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” (JORC Code). Michael Job consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Refer to Kasbah Announcements on 10 September 2013(Meknes Trend) and 25 November 2014 (Western Zone) for detailed information relating to the Mineral Resource Estimates. No further drilling on these areas has taken place post these announcements.
CONTACT Media and Investor Inquiries
James Moses
Mandate Corporate
T: +61 (0) 420 991 574
E: james@mandatecorporate.com.au
admin@kasbahresources.comWest Wits Mining Limited (ASX: WWI) “Transforming world class mineral resources into Gold” Investor Presentation Melbourne Mining Club
Disclaimer This presentation may contain certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those acts, events and circumstances to differ materially from the expectations described in such forward-looking statements. These factors include, among other things, commercial and other risks associated with estimation of resources, the meeting of objectives and other investment considerations, as well as other matters not yet known to the Company or not currently considered material by the Company. West Wits accepts no responsibility to update any person regarding any error or omission or change in the information in this presentation or any other information made available to a person or any obligation to furnish the person with further information. Competent Person The information in this announcement that relates to Exploration Results from South Africa is based on information compiled by Hermanus Berhardus Swart, a Competent Person who is a Professional Natural Scientist registered with South African Council for Natural Scientific Professions accredited (No. 400101/00) and a Fellow of the Geological Society of South Africa, each of which is a “Recognised Professional Organisation” (RPO) that is included in a list that is posted on the ASX website from time to time. Hermanus Berhardus Swart is employed by Dunrose Trading 186 (PTY) Ltd trading as Shango Solutions, which provides services as geological consultants to the Company. Hermanus Berhardus Swart has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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”. Hermanus Berhardus Swart consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Dr Andrew J. Tunks MAIG The peer review of the South African results was undertaken by Dr. Andrew Tunks and represents an accurate representation of the available data. Dr. Tunks (Member Australian Institute Geoscientists) is a consultant to the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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’. Dr Tunks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. 22
Gold why do we love it? Source Image 1: Physical Gold Source Image 2: GoldResource.net Source Image 3: Biltmore Loan And Jewelry Photo Source: coincommunity
Abundance of Gold
RANK ATOMIC # NAME SYMBOL PPM TONES
PRODUCED
1 8 oxygen O 474,000
2 14 silicon [A] Si 277,100 7,200,000
3 13 aluminium Al 82,000 57,600,000
4 26 iron Fe 41,000 1,150,000,000
5 20 calcium Ca 41,000
6 11 sodium Na 23,000 255,000,000
RANK ATOMIC # NAME SYMBOL PPM TONES
PRODUCED
70 52 tellurium Te 0.005 2,200
71 78 platinum Pt 0.003 172
72 79 gold Au 0.0011 3,100
73 44 ruthenium Ru 0.001
74 46 palladium Pd 0.0006 208
Weight conversion
75 75 rhenium Re 0.0004 47.2
76 77 iridium Ir 0.0003 31g = 1oz
77 45 rhodium Rh 0.0002 1ppm = 1g/t
78 76 osmium Os 0.0001 1 tonne = 32,000 ozPrice of Gold Source: commons.wikimedia.org
Corporate
Capital Structure 12-month Share Price Chart
0.04
Shares on Issue 718m
Options (var ex prices & dates) 54m 0.03
Market Cap (@ $0.020 @ 16/07/18) A$13.6m
0.02
Cash (@ April 2018) A$1.2m
Enterprise Value (EV) A$12.4m 0.01
EV/oz A$3.4oz
0
17/7/17 17/10/17 17/1/18 17/4/18
Major Shareholders %
Top twenty ~ 40%
Board & Management ~ 10%
6
6South Africa and Australia
Witwatersrand Basin – South Africa Pilbara - Australia
Johannesburg
7Conglomerate hosted gold
Gold Deposits of the Central Rand 9
Gold bearing reefs 10
Historic Mining 11
Mine the data 1998 Main Reef Plan 12
Growing JORC Resource
Category Ore (Mt) Grade g/t Au Ounces Au
Measured 12.01 3.65 1,420,000
Indicated 9.2 3.38 998,000
M&I 21.2 3.51 2,418,000
Inferred 13 3.1 1,255,000
Total 34.1 3.4 3,673,000
Global MRE for WBP @ 2g/t cut-off
• Over 75% of Au in Measured and Indicated
• Historic resource was 12.8 Moz Au*
• DRD ceased mining operations in June 2000
13
Source: ASX Release 16/07/18Mining now 14
Next Opportunities 15
Gold Production at Kimberley
Central Open Pit
Average Monthly production Sept - May
Ore Produced (T) 15,350
Ounces Au (oz) 805
Cash cost - approx. US$1,000/oz
Net Cash Proceeds AU$160,000
16Mine planning
2.2km strike M&S
6.0 km strike B&W
4.0 km strike Kimberley
DRD
Kimberley Underground
RANDUnderground Kimberley East
Category Tonnes (millions) Grade (g/t Au) Ounces Au
Measured 2.73
1.1 3.66
5.2 321,000
180,000
Indicated 1.9
0.6 3.45
5.1 213,000
100,000
Measured & Indicated 4.7
1.7 3.57
5.2 534,000
280,000
Inferred 7.8
1 2.9
4.8 711,000
170,000
Total 12.4
2.7 3.1
5.0 1,245,000
450,000
18Modern Underground Mining 19
WBP - Route to Increased Production
WWI’s Strategy 21
Corporate contacts
Andrew Tunks
Exploration Director
Ph: +61 400 205 555
E: ajtunks@westwitsmining.com
Simon Whyte
Corporate & Investor Relations
Ph: +61 459 797 101
E: swhyte@westwitsmiming.com
West Wits Mining
Suite 1, Level 6, 50 Queen St
Melbourne, Victoria 3000Melbourne Mining Club
17 July 2018
RICHARD BEVAN, MANAGING DIRECTOR
www.cassiniresources.com.a
uDisclaimer and important notice
The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial
product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Before
making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular Investment Needs, Objectives And Financial Circumstances.
No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Cassini
Resources Ltd, their directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In
particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, prospects or returns contained in this presentation nor is any obligation
assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies.
Competent Persons Statement
The information in this statement which relates to the Mineral Resource data, including tenement information, drilling, sampling, and analytical results, geology interpretation, and selection of cut-off grade has been overseen by Mr Greg Miles who is a full-
time employee of Cassini Resources Ltd and a Member of the Australasian Institute of Geoscientists. Mr Miles has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activity for which he is
undertaking to qualify as a Competent Person as defined in the JORC Code, 2012 Edition.
The information in this report which relates to the Nebo-Babel Mineral Resource estimation and classification has been prepared by Mr Andrew Weeks who is a full-time employee of Golder Associates Pty Ltd and a Fellow of the Australasian Institute of
Mining and Metallurgy. Mr Weeks has sufficient relevant experience to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the JORC Code, 2012
Edition. Both Mr Miles and Mr Weeks consent to the inclusion in this report of the matters based on information in the form and context in which it appears.
Please refer to Cassini’s ASX announcement of 7 December 2015 for the Competent Person Statement and JORC disclosure tables relating to the Succoth Mineral Resource Estimate.
Cassini is not aware of any new information or data, other than that disclosed in this report, that materially affects the information included in this report and that all material assumptions and parameters underpinning Exploration Results, Mineral Resource
Estimates and Production Targets continue to apply and have not materially changed.
The nickel equivalent (NiEq) and copper equivalent (CuEq) calculations take into account resources, reserves, and grades as stated in latest ASX releases and assumes 100% payability for all metals recovered generating a commodity equivalent value for
Ni, Cu, Co, Zn, Au, Ag, Pb and Mo. Only projects with JORC 2012 resources and reserves have been used. Nickel equivalent grade = Ni% + Cu% x 0.56. Copper equivalent grade = Cu% + Ni% x 1.97. Based on assumed recoveries of 73% for Cu and
59% for Ni and commodity prices shown below. It is the Cassini’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold.. NiEq grades have been published to enable a comparison
to similar sized nickel sulphide assets. CuEq grades have been published to enable a comparison to similar sized copper assets.
Forward Looking Statements
Some statements in this report regarding estimates or future events are forward-looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward-looking statements include, but are
not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “nominal”, “conceptual” and similar expressions. Forward-looking statements,
opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market
conditions. Forward-looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward-looking statements may be affected by a range of variables that could cause actual results to differ
from estimated results, and may cause the Company’s actual performance and financial results in future periods to materially differ from any projections of future performance or results expressed or implied by such forward-looking statements. These risks
and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain mine licenses, permits and other regulatory approvals required in
connection with mining and processing operations, competition for among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and
exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of
transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be correct.
The production targets referred to in this announcement are based on 52% In-pit Indicated Resources and 48% Inferred Mineral Resources. The Inferred Resources do not determine the economic viability of the project, and approximately 80% of
resources within the optimisation pit shells are in the Indicated Category during the pay-back period. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result
in the determination of Indicated Mineral Resources or that the production targets themselves will be realised.
Statements regarding plans with respect to the Company’s mineral properties may contain forward looking statements. Statements in relation to future matters can only be made where the Company has a reasonable basis for making those statements.
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 2Company Highlights
Rapidly progressing a world class nickel + copper sulphide project with ASX100 partner
OZ Minerals (ASX:OZL)
West Musgrave Project is one of the few sulphide projects of scale being developed globally
Significant opportunity to add value to project through Prefeasibility Study and continued
exploration
Base metal market dynamics continue to improve with new demand for high quality products
Progressing Cassini owned projects in gold, zinc & Nickel/Cobalt in WA
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 3Corporate Snapshot
Developing Australia’s largest nickel & copper sulphide project through a A$36m Earnin/JV
CAPITAL STRUCTURE SHARE PRICE PERFORMANCE
Australian Stock Exchange (ASX) code CZI 12 month CZI Price & Volume
Frankfurt Stock Exchange code ICR $0.12 6,000,000
Volume CZI A$ Share Price
ASX Share price (close 16-Jul-18) A$0.072
52 week low / high A$0.049 / A$0.125 $0.10 5,000,000
Shares outstanding 276.5M
Options on Issue 15.35M $0.08 4,000,000
CZI A$ Share Price
Market capitalisation A$19.9M
Volume
Cash (30-Mar-18) A$1.6M $0.06 3,000,000
Debt Nil
Enterprise value A$18.3M $0.04 2,000,000
MAJOR SHAREHOLDERS
$0.02 1,000,000
MACA (ASX:MLD) ASX-listed mining contractor 10.8%
GR Engineering (ASX:GNG) ASX-listed engineering consultant 5.4% $0.00 -
Directors and Management 4.6%
Source: miracle – Orient Capital
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 4Asset Portfolio
Earnin/Joint Venture 100% CZI Owned
Mount Squires Project (Au)
West Musgrave Project (Ni, Cu, Co, PGE) STAGE: EXPLORATION
STAGE: PRE FEASIBILITY Shallow gold mineralisation
NEBO-BABEL DEPOSITS • 50km prospective trend
• 1Mt of contained Ni and 1.1Mt Cu • Gold in previous drilling
• Open pit, low operating cost, long mine life – 15m @ 2.3g/t, including 5m @ 4.7g/t.
STAGE: ADVANCED EXPLORATION West Arunta Project (Zn)
SUCCOTH DEPOSIT STAGE: EARLY EXPLORATION
• 936,000t of contained Cu Emerging project in a potential new zinc
• Provides significant optionality and leverage to region
copper price
• 35km prospective horizon
• Broad zinc enriched zones
STAGE: EXPLORATION • Multiple follow-up targets
REGIONAL
• 40km mineralised corridor Yarawindah Brook Project (Ni, Cu, Co, PGE)
• Multiple targets STAGE: EXPLORATION
Significant exploration upside remains Massive sulphide mineralisation
• Under-explored project
• High grade Ni-Cu-Co massive sulphides
• “Walk-up” drill targets
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 5CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 6
Nebo-Babel – Scoping Study Outcomes
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 7West Musgrave Project camp
CAMP
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 8Project Access
JAMESON
COMMUNITY
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 9Nebo-Babel Prefeasibility Study
NEBO DEPOSIT
BABEL DEPOSIT
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 1040,000m resource drill out
NEBO DEPOSIT
BABEL DEPOSIT
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 11Babel Resource
BABEL DEPOSIT
2,000 m
1,200
m
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 12Babel Resource
BABEL DEPOSIT
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 13Babel Resource – H-T Lode
BABEL DEPOSIT
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 14Nebo Resource
NEBO DEPOSIT
1,800 m
1,200 m
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 15Nebo Resource Extension
NEBO DEPOSIT
Sugar Lode
Extensions
Eastern
Extensions
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 16Metallurgical program – Optimisation
NEBO DEPOSIT
BABEL DEPOSIT
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 17Opportunities to add value - Renewable Energy Study
WIND MAST
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 18WMP Exploration – Significant discovery opportunity remains
Yappsu – Squid MLEM 2018 – Clear anomaly Yappsu – Sampson MLEM 2009 – Noisy data
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 19Priority exploration targets
SUCCOTH
DEPOSIT
Yapps
u
One Tree Hill
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 20Yappsu Prospect
Yapps
u
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 21One Tree Hill Prospect
One Tree Hill
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 22Succoth Cu Deposit SUCCOTH DEPOSIT
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 23Community and Heritage
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 24WMP Schedule
Indicative Timeline
2017 2018 2019 2020 2021 2022
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
West Musgrave Project
Pre Feasibility Study
Definitive Feasibility Study
Final Investment Decision
First Production
WMP Regional exploration Managed by Cassini
Project ownership
OZL 51% OZL 70%
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 25WMP Schedule
Indicative Timeline
2017 2018 2019 2020 2021 2022
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
West Musgrave Project
Pre Feasibility Study
Definitive Feasibility Study
Final Investment Decision
First Production
WMP Regional exploration Managed by Cassini
Project ownership
OZL 51% OZL 70%
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 26WMP Schedule
Indicative Timeline
2017 2018 2019 2020 2021 2022
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
West Musgrave Project
Pre Feasibility Study
Definitive Feasibility Study
Final Investment Decision
First Production
WMP Regional exploration Managed by Cassini
Project ownership
OZL 51% OZL 70%
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 27What’s coming up next
Significant exploration programs underway at West Musgrave Project
» Exploration drilling underway at One Tree Hill
» Yappsu: Results for CZD0079, DHEM then follow-up drilling in August
» Results from Nebo-Babel extension program
Prefeasibility study delivery expected Q2 2018 with anticipated move into DFS
Visibility on Cassini funding options over next 3-6 months
Drilling at Cassini’s 100% West Arunta Zinc Project (Aug/Sept)
CASSINI RESOURCES LIMITED ASX: CZI │ FRANKFURT: ICR 28Cassini Resources Limited 10 Richardson Street, West Perth WA 6005 T: +61 8 6164 8900 E: admin@cassiniresources.com.au W: www.cassiniresources.com.au
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