Santana Minerals (NZSE:SMI) Earnings Call Presentation

Project Overview - The Bendigo-Ophir Gold Project (BOGP) is located in the Central Otago Goldfields of New Zealand [16] - The Rise & Shine (RAS) deposit is a significant gold discovery in New Zealand in 40 years, containing 2.08Moz @ 2.4 g/t Au [23, 25] - The project benefits from existing infrastructure, including easy access, fresh water, low-cost green energy, and a skilled workforce [19, 20] Resource and Reserve Estimates - The combined total resource estimate for the Rise and Shine (RAS) deposit is 2.34Moz @ 2.1 g/t Au [23] - The project has a Probable Ore Reserve of 1.21Moz [23] - The Prefeasibility Study (PFS) plans to extract mineral resources, with approximately 93% within the Indicated Resources category and 7% classified within the Inferred Resources category [8] Financial Outcomes - The project is expected to generate US$4.3 billion in revenue [41, 48] - The project is expected to generate US$2.9 billion in EBITDA [41, 48] - The project is expected to generate US$1.9 billion in free cash after tax [41, 48] - The After-tax NPV is estimated at US$1.1 billion, with an IRR of 72% and a payback period of less than 1.6 years [41, 48] Mining and Processing - The project involves open pit mining for 13+ years, followed by underground mining for an initial 7 years [34, 37] - The open pit mining is expected to extract 11Mt @ 2.75g/t from RAS and 1.4Mt @ 0.68g/t from SRX [34] - The underground mining at RAS is expected to extract 3.7Mt at 2.7g/t [37] - The processing plant has a capacity of 1.2Mtpa, with the option to upgrade to 1.8Mtpa [43, 52] - The metallurgical testing indicates very high gold recoveries at RAS of 93% using conventional CIL processing [55, 56]