New Murchison Gold (NMG) investor relations material

Executive summary

• First four full quarters of mining and ore sales delivered 65,789 oz of gold in ore sold; September-quarter sales were 10,837 oz, down 30% QoQ as Crown Prince high-grade areas were temporarily inaccessible during pit works.

• Waste stripping and Cloudkicker development positioned both pits for planned stronger production in coming quarters, while exploration expanded resource and development opportunities across Garden Gully.

Financial highlights

• Cash increased $18.7m to $220.4m; quarterly operating cash inflow was $25.231m, investing outflow $6.793m and financing inflow $0.257m.

• Ore sales were 160,483 tonnes at 2.2 g/t, containing 10,837 oz; attributable gold price under the OPA was A$6,055/oz versus attributable AISC of A$4,972/oz.

• Quarter exploration and evaluation expenditure was $3.79m; cash receipts from customers were $52.742m.

Outlook and guidance

• Planned elevated material movement in the September and December quarters is intended to support stronger grade and volume in subsequent quarters; AISC is expected to improve as high-grade Crown Prince ore becomes accessible and waste movement falls.

• Cloudkicker is expected to add circa 20,000 oz of gold in ore to the production profile over the next 12–18 months.

• Crown Prince underground studies, Lydia mine studies and follow-up drilling are progressing to inform future development options.