Chalice Mining (CHN) Corporate presentation summary

Investment highlights

• Owns the largest undeveloped PGM-nickel-copper reserve in the western world, with $250M invested and feasibility, approvals, and financing underway.

• Financially strong with ~A$59M in cash and listed investments, zero debt, and a highly experienced team.

• Actively exploring copper targets across Australia, with new discoveries and drilling campaigns in progress.

• Trading at a steep discount to NAV, with a cyclical rebound in palladium and nickel underway.

Corporate overview

• Part of the ASX300 with a stable, institutional shareholder base; major holders include BlackRock and Paradice.

• Market cap of A$450M, ~389M shares on issue, and ~2M shares traded daily.

• Leadership includes industry veterans and a decorated development and exploration team.

Gonneville project overview

• 100% owned, set to become a major, multi-decade PGM-Ni-Cu-Co mine near Perth.

• Modelled 23-year open-pit phase with significant production: 220kozpa 3E, 7ktpa Ni, 8ktpa Cu, 0.7ktpa Co.

• Tier-1 resource: 17Moz 3E, 960kt Ni, 540kt Cu, 96kt Co; reserve: 7.1Moz 3E, 400kt Ni, 260kt Cu, 43kt Co.

• Lowest-cost undeveloped PGM project globally (US$370/oz 3E AISC), robust financials: A$1.4bn pre-tax NPV8, 23% IRR, 2.7yr payback.