Maronan Metals (MMA) AGM 2025 Presentation summary

Project overview and investment highlights

• Advancing a silver-focused mining project with scalability and strong current value proposition.

• Less than 15% of global resources included in the current economic assessment, indicating significant growth potential.

• Both stand-alone and toll treatment development options offer attractive returns and flexibility.

• Led by an experienced team with a proven track record in mine development and operations.

Preliminary economic assessment (PEA) results

• Pre-tax NPV of A$377 million and IRR of 37% for the Starter Zone, with a 10-year mine life and 4-year payback.

• Life-of-mine EBITDA projected at A$981 million, with free cash flow of A$683 million.

• Pre-production capital expenditure estimated at A$266 million, emphasizing capital efficiency.

• Sensitivity analysis shows robust project economics across a range of silver prices.

Resource base and expansion opportunities

• Starter Zone contains 12.2 Mt at 5.0% lead and 112 g/t silver, totaling 610,000 tonnes lead and 43.8 Moz silver.

• Global silver-lead resource stands at 33.1 Mt at 6.0% lead and 108 g/t silver.

• Copper-gold resource totals 32.0 Mt at 0.85% copper, 0.63 g/t gold, and 7 g/t silver.

• Additional shallow resources north of the Starter Zone and inferred resource conversion present further upside.