Ballard Mining (BM1) Noosa Mining Conference 2026 summary

Strategic Direction and Funding

• Exploring alternatives to traditional debt and equity funding, with a debt advisor appointed and openness to other options.

• Fully funded to final investment decision (FID) with AUD 62 million in cash as of June 2026, and all permits secured.

• Balance sheet de-risked with 24% institutional shareholders and a market capitalization of approximately A$272M as of July 2026.

• Focused on building a standalone resource scale, while remaining open to mergers or M&A if they offer better value.

• Strategic placement with Aurenne signals intent for potential collaboration, though no formal agreement exists.

Ownership, Management, and Partnerships

• Spun out from Delta Lithium, with Delta (34.4%), Aurenne Group (9.6%), and Hancock Prospecting (5.9%) as major shareholders.

• Board and management team bring extensive mining and financial experience, including leadership from De Grey, Ramelius, and other major gold mining companies.

• Aurenne, a neighboring gold producer, holds just under 10% of the register and is a potential merger partner.

Project Development and Exploration

• Located north of Kalgoorlie in WA Eastern Goldfields, surrounded by established producers and infrastructure.

• AUD 50 million exploration budget for 2024 and a 220,000m drill program planned for 2026 to drive resource growth.

• Over 50 regional targets identified for testing, with advanced feasibility and FID targeted for H1 CY2027.

• Ongoing drilling aims to convert resources and extend mine life, focusing on Baldock and satellite deposits.

• Regional satellite projects targeted for open pit material to supplement Baldock's production.