PLATINUM – PALLADIUM - GOLD

in
PARKS REEF

CORPORATE PRESENTATION
MAY 2018
ASX: POD | www.podiumminerals.com
IMPORTANT NOTICE
This corporate presentation (Presentation) has been prepared by Podium Minerals Limited (ACN 009 200 079) (Company).
The information contained in this Presentation has been prepared in good faith by the Company, however no representation or warranty expressed or
implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this
Presentation.
To the maximum extent permitted by law, the Company, its directors, officers, employees and agents disclaim liability for any loss or damage which may
be suffered by any person through the use or reliance on anything contained in or omitted in this Presentation.
Certain statements contained in this Presentation, including information as to the future financial or operating performance of the Company and its
projects are forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assumptions that,
whilst considered reasonable by the Company, are inherently subject to significant technical, business, economic, competitive, political and social
uncertainties and contingencies, involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from
estimated or anticipated events or results reflected in such forward-looking statements and may include, among other things, statements regarding
targets, estimates and assumptions in respect of metal production and prices, operating costs and results, capital expenditures, ore reserves and
mineral resources and anticipated grades and recovery rates and may be based on assumptions and estimates related to future technical, economic,
market, political, social and other conditions. The Company disclaims any intent or obligation to update publicly any forward looking statements,
whether as a result of new information, future events or results or otherwise. The words “believes”, “expects”, “anticipates”, “indicates”, “contemplates”,
“targets”, “intends”, ”plans” , “objective”, “strategy”, “schedule”, “continue”, “budget”, “estimate”, “may”, ”will”, “could” , “would” and other similar
expressions identify forward looking statements and are not guarantees of future performance and accordingly investors are cautioned not to put undue
reliance on forward looking-statements due the uncertainty inherent therein.
Exploration Results
Information in this Presentation which relates to Exploration Results was first released in the following ASX announcements which include further details
and supporting JORC Reporting Tables:
• Company's prospectus dated 30 November 2017
• Initial drill results show significant PGM intercepts: 13 April 2018
• Drill results show continuity of thick PGM mineralisation with high grade sub-layering: 27 April 2018
• Deeper drilling shows thick PGM mineralisation in Parks Reef open at depth: 17 May 2018
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 the form and context in which the Competent Person's findings are presented have not been materially modified from the
original market announcements.
Exploration Target
The information in this Presentation that relates to the Exploration Target was first released by the Company in its prospectus dated 30 November 2017.
The Company confirms that it is not aware of any new information that materially affects the information included in the prospectus and that the form and
context in which the competent person's findings are presented have not been materially modified from the prospectus. The Company advises that the
Exploration Target is based on the results of historical exploration drilling, that the potential quantity and grade of the Exploration Target for Parks Reef
is conceptual in nature and that it is uncertain if further exploration will result in the determination of a Mineral Resource.
The prospectus and the announcements are available on the Company’s website at: www.podiumminerals.com.au.

Corporate Presentation – May 2018 Slide 2

INTRODUCING PODIUM MINERALS

STRATEGY TO RAPIDLY DEVELOP AN ALTERNATIVE SUPPLY OF PGM s

➢ ASX listed exploration and resource development company Platinum
PGM Price*
➢ Highly efficient and experienced management with Group Metals
extensive project development capability Platinum Pt $906/oz
➢ Well funded following $5.5m capital raising
Palladium Pd $1,001/oz
➢ Mining leases covering Weld Range Complex (WRC) in
Mid West Region of Western Australia with: Rhodium Rh $2,240/oz
• near surface PGM-Au mineralisation over 15km strike
in Parks Reef Iridium Ir $1,350/oz

• identified targets for nickel-copper sulphides Ruthenium Ru $250/oz

➢ Rapid progress of resource drilling in Parks Reef for the Osmium Os
WRC PGM Project has delivered:
• continuous zone of thick PGM mineralisation; with
• high grade sub-layering; and Sulphide Metals Price*
• mineralisation open at depth and along strike Gold Au $1,291/oz
➢ Potential low capital and low mining cost development; into
Nickel Ni $14,610/t
➢ PGM market with strong fundamental demand and
constrained supply Copper Cu $6,860/t

• Prices in USD at 22 May 2018 as quoted by the London Metal Exchange except
Rh, Ir and Ru as quoted by Johnson Matthey PMM (Precious Metal Management)

Corporate Presentation – May 2018 Slide 3

 CORPORATE OVERVIEW

A TEAM WITH DEMONSTRATED DELIVERY CAPABILITY

Clayton Russell Grant Peter Roberto
Tom Stynes Doug Cook
Dodd Thomson Osborne Gilmour Castro
Chief Executive Executive Non-Executive Non-Executive Non-Executive Exploration
Chairman
Officer Director and CFO Director Director Director Manager

Corporate Engineer CPA Geologist Process Engineer Commerce Geologist

Over 30 years’ Management and Over 25 years’ Extensive Commissioning Commodities International
finance and project experience in the exploration and specialist including finance for exploration,
resources development engineering, operation iron ore, nickel, minerals and development and
experience expertise including construction and credentials copper, uranium, energy as founder operation of
including ASX, Glencore, Xstrata mining industries including alumina and of Petrosca and precious and base
AIM, TSX and JSE and Ferrexpo discovery of mineral sands previously BNP metal deposits
public companies Rocky’s Reward projects Pariba

1. Options on issue comprises:

Capital Structure 22 May 2018
i. 68,105,000 ASX listed options exercisable at 20c expiring
ASX Code POD 28 August 2020;
Shares on Issue 94,514,967 ii. 2,000,000 unlisted options exercisable at 20c expiring
21 February 2021.
Share price $0.15
2. 9m Performance Rights will vest in three (3) equal portions
Market Cap (undiluted) $14.2m upon the achievement of the following hurdles:

Cash on hand (31 Mar 2018) $3.7m i. a 20 trading days VWAP of 25cps in the first year of ASX
listing;
Options on Issue1 70,105,000
ii. a 20 trading days VWAP of 30cps in the second year;
Performance Rights2 9,000,000 iii. the exercise of 95% of the options.

Corporate Presentation – May 2018 Slide 4

RAPID PROGRESS

ACHIEVEMENTS AND NEAR TERM PLANS:

Drilling priority
Second phase Ni-Cu sulphide
ASX listing Initial drill results drilling results targets
28 Feb 2018 13 Apr 2018 17 May 2018 Q3 2018

22 Mar 2018 27 Apr 2018 Q2/Q3 2018 Q3 2018

Commence First phase Metallurgical Maiden JORC
maiden drilling drilling results testwork compliant
program resource
estimate

Following maiden
resource estimate

• Extension and infill drilling Project

NEXT STEPS:
• Scoping study engineering Development

Corporate Presentation – May 2018 Slide 5

SECURE & HIGH QUALITY ASSETS

WRC GEOLOGICAL COMPLEX

➢ Podium’s core projects are located within
the Weld Range Complex (WRC) in the
Mid West Region of Western Australia
➢ Granted Mining Leases with an area of
77km2 covering the entire WRC
➢ Mining Agreement signed with Native
Title Parties
➢ Established mining precinct with
supporting regional infrastructure
➢ Extensive historical exploration but
focussed on supergene mineralisation
➢ Owns 100% of Sulphide Mining Rights
which includes all PGMs (see Company
Prospectus for further details)
➢ Divested Oxide Mining Rights to EV
Metals Group (EVM) but retains 28%
shareholding in EVM
➢ Complementary exploration licences
prospective for gold and base metals in
Western Australia and Northern Territory
provides a portfolio of assets
Location and regional geology of Western Australian tenements

Corporate Presentation – May 2018 Slide 6

UNIQUE GEOLOGY

➢ The top figure is a generalised model of

a layered mafic-ultramafic igneous
complex showing the relative position of
significant global deposits.
➢ Underneath is an inverted plan view of
the WRC with north facing the bottom.
➢ The WRC has been displaced onto its
side and eroded creating a unique
opportunity for near surface exploration
of the entire complex.
➢ Drilling and geophysics has identified: Generalised model for mafic-ultramafic complexes

PGM mineralisation in Parks Reef;

Chrome enrichment as potential
indicator of parallel reefs;
Priority Keel Target for Ni-Cu
sulphides in feeder zone;
Multiple embayment targets for Ni-
Cu sulphides;
Copper geochemical anomalies.

World Range Complex

Corporate Presentation – May 2018 Slide 7

WRC PGM PROJECT

PARKS REEF – AN ALTERNATIVE SUPPLY OF PGMs

➢ Horizon of near surface PGM mineralisation with a strike of 15km and an average width of
15m identified from historical exploration
➢ Exploration Target of 1.2Moz to 3.5Moz PGM within 200m of surface
An Exploration Target of 25Mt to 55Mt grading 1.5 to 2.0g/t Pt+Pd+Au has been estimated based on the results of historical
exploration drilling. The potential quantity and grade of the Exploration Target is conceptual in nature and it is uncertain if further
exploration will result in the determination of a Mineral Resource. Refer also to Slide 2.

RAPIDLY AND SYSTEMATICALLY ADVANCING RESOURCE DRILLING

➢ Maiden drilling program completed and includes 34 holes for approximately 3,000m RC
drilling over a 2.2km section in the western zone of Parks Reef:
• continuity of thick mineralisation
along strike including:
- 19m @ 2.05g/t 3E PGM1 from 5m
in hole PRRC001
- 14m @ 2.40g/t 3E PGM from 7m
in hole PRRC007
• open at depth on all drill lines
• high grade sub-layering including:
- 3m @ 4.25g/t 3E PGM from 42m
in hole PRRC014
- 3m @ 5.70g/t 3E PGM from 127m
in hole PRRC027
1. 3E PGM refers to platinum (Pt) plus palladium (Pd) plus
gold (Au) expressed in units of g/t Location map of current drilling program
Corporate Presentation – May 2018 Slide 8
CONTINUITY OF THICK MINERALISATION

2.2km

Open Open

Corporate Presentation – May 2018 Slide 9

MINERALISATION OPEN AT DEPTH

Corporate Presentation – May 2018 Slide 10

HIGH GRADE SUB-LAYERING

PROVIDES OPTIONALITY IN OPTIMISING MINE DEVELOPMENT

➢ High grade sub-layering observed within drill results including consistent enrichment of
platinum and gold in the upper portion of the reef:

Drill Line Hole Sub-layer - 3E PGM

19W PRRC001 4m @ 2.99g/t from 16m

20W PRRC003 3m @ 2.77g/t from 15m

21W PRRC026 3m @ 5.70g/t from 127m

22W PRRC027 3m @ 2.34g/t from 102m

23W PRRC007 12m @ 2.56g/t from 8m

24W PRRC009 3m @ 3.28g/t from 20m

25W PRRC030 5m @ 2.77g/t from 81m

26W PRRC019 3m @ 2.08g/t from 17m

27W PRRC011 6m @ 2.36g/t from 11m

28W PRRC014 3m @ 4.25g/t from 42m

29W PRRC034 3m @ 2.27g/t from 78m

30W PRRC021 4m @ 2.21g/t from 26m

Select high grade sub-layers from each drill line PGM distribution in hole PRRC014

Corporate Presentation – May 2018 Slide 11

OPERATING COMPANY BENCHMARKS

IN-SITU GRADES NOT THE ONLY ECONOMIC DRIVER

➢ Consider Anglo American Platinum Limited1 as world’s largest PGM producer mining the:
Merensky and UG2 Reefs: flat narrow high grade reefs typically less than 70cm thick with
mined widths of circa 1-2m accessed by deep shafts
Great Dyke: shallow dipping reef mined by underground decline with circa 2m mining widths
Platreef: thick shallow dipping reef with open pit mining currently to approximately 250m with
lowest quartile costs and most profitable Anglo operation.
Mined grades for flat, narrow underground reefs impacted by mineability and dilution:

Reef Resource Cut3 Resource (M&I) 2 Mined (2017) 2

Merensky 90 - 150 cm 5.39 g/t Decreasing:
3.87 g/t • mine development costs
UG2 120 – 180 cm 5.24 g/t
• development timeframe
Great Dyke 180 cm 4.17 g/t 3.47 g/t • mining complexity
Platreef n/a 2.63 g/t 3.09 g/t Increasing EBITDA Margin
➢ Economics are driven by capital development costs, mining costs and mined grade
➢ North American Palladium provides an example of an alternative development model with
open pit reserves of 12.1Mt at 1.62 g/t 3E PGM4

1. Anglo American Platinum Limited ‘Ore Reserves and Mineral Resources Report 2017’ and ‘Quarterly Production Report’ for Q4 2017
2. Grades in table are 4E PGM which refers to platinum (Pt) plus palladium (Pd) plus rhodium (Rh) plus gold (Au) expressed in units of g/t
3. Resource Cut is the practical minimum mining width suitable for a deposit as used for estimating the mineral resources
4. Sourced from NI-43-101 Technical Report ‘Feasibility Study for Lac des Iles Mine’ dated 6 June 2017.
Corporate Presentation – May 2018 Slide 12
PARKS REEF OPPORTUNITY

COMPETITIVE ADVANTAGE SCALEABLE PROJECT

➢ Parks Reef can differentiate itself from the ➢ Mineralisation over 15km strike provides
competition by providing: opportunities to optimise life and scale
• low capital development cost; ➢ Current drilling to maximum 160m vertical
depth with mineralisation open on all drill
• short development timeframe;
lines.
• low cost / low risk mining; and ➢ In perspective – Narrows Bridge Perth to
• scale optionality Fremantle Traffic Bridge approximately
15km by road
in an established mining jurisdiction

SIMPLE MINE DEVELOPMENT

➢ Thick and near surface mineralisation
provides opportunity for bulk open pit
mining
➢ Steeply dipping reef allows opportunity for
continued efficient underground mining by
decline with option for selective targeting
of high grade sub-layers

Corporate Presentation – May 2018 Slide 13

MARKET OUTLOOK

OVERVIEW
➢ PGMs are rare metals with unique catalytic and physical properties and platinum in particular
has a diverse range of specialty uses
“Industrial consumption (of platinum) rose by 7% to just short of 2 million ounces (in
2017)....Record industrial demand will lift global consumption of platinum” Johnson Matthey
‘PGM Market Report February 2018’
➢ An integral part of the low emissions future: the single largest demand driver for PGMs is
in autocatalysts to reduce harmful exhaust emissions from carbon monoxide, nitrogen oxides,
hydrocarbons and diesel particulates
“Palladium: The best performing precious metal for a second consecutive year sees limited
downside into 2018” Citibank ‘Annual Commodities Market Outlook 2018’
➢ World Bank Commodities Forecast (April 2018) predicts platinum price to exceed gold price
by 2024
SUPPLY CONSTRAINTS
➢ Primary supply dominated by South Africa, Russia and Zimbabwe contributing approximately
92% of platinum and 85% of palladium supply
➢ New and replacement production capacity is capital constrained:
“PGMs and platinum total global primary supply – at best flat”
“Replacement capex unlikely to offset production decline in base production”
“Expansion projects subject to constraints due to processing capacity, infrastructure and
project economics”
Anglo Platinum Limited ‘2017 Annual Results Presentation’

Corporate Presentation – May 2018 Slide 14

 2017 PGM MARKET – 629k oz Pd DEFICIT
PLATINUM
PALLADIUM

Source: Johnson Matthey ‘PGM Market Report February 2018’ – Preliminary Estimates for 2017
Corporate Presentation – May 2018 Slide 15
DEMAND UPSIDE

AUTOCATALYST DEMAND INCLUDES DIESEL, GASOLINE AND HYBRID

➢ Autocatalyst demand driven by vehicle sales and tightening world wide emissions regulations:
“Lower (diesel) autocatalyst demand in Europe will be partly offset by a very strong
performance from the US (in 2018)” and
“The use of palladium in autocatalysts is expected to hit another all-time high (in 2018), on the
back of modest growth in global production of gasoline vehicles….legislative change in
Europe and China is expected to have a significant impact in the coming years” Johnson
Matthey ‘PGM Market Report February 2018’
FUEL CELL ELECTRIC VEHICLES (FCEVs) A POTENTIAL GAME CHANGER
➢ Fuel cells provide a zero emission alternative to battery electric vehicles and overcome the
limitations of range and recharge time:
“Given the high platinum loading, a modest market share of FCEVs would garner
significant platinum demand” World Platinum Investment Council October 2017
“…the use of platinum in FCEVs rose by over 300% last year. Sales of fuel cell cars (mainly in
California and Japan) more than doubled in 2017, while several hundred fuel cell buses were
deployed in China” and
“The outlook for fuel cells in China is increasingly positive……The Chinese government’s aim
is to increase the number of FCEVs on Chinese roads to 50,000 units by 2025, and one
million by 2030” Johnson Matthey ‘PGM Market Report February 2018’

Corporate Presentation – May 2018 Slide 16

INVESTMENT OPPORTUNITY

➢ Unique ASX listed exploration and resources development company

✓ Well funded following $5.5m capital raising
✓ Exposure to supply constrained PGM market

➢ Strong management
✓ In-house capability in all aspects of project development
✓ Achieving rapid progress

➢ Potential near term development opportunity

✓ Granted mining leases in an established mining region
✓ Drilling shows continuity of thick PGMs in Parks Reef open along strike and at depth
✓ Large and near surface mineralisation provides competitive advantage
✓ Objective for simple and low capital development pathway

➢ Niche market position

✓ Alternative supply of PGMs to the world market
✓ Scalable project with ability to rapidly respond to market demand

Corporate Presentation – May 2018 Slide 17

CONTACT

PODIUM MINERALS LIMITED MEDIA & ANALYSTS

Tom Stynes Ben Knowles

Chief Executive Officer Walbrook IR

T: +618 9218 8878 T: +614 2627 7760

E: toms@podiumminerals.com E: ben.knowles@walbrookir.com.au

Corporate Presentation – May 2018 Slide 18