Meeka Metals (MEK) Investor Presentation summary

Strategic overview and production plan

• 10-year production plan targets up to 76koz gold per annum, averaging 65koz for the first 7 years, with first gold expected in June 2025 and open pit/underground mining ramping up mid-2025.

• Projected undiscounted pre-tax free cash flow of $1bn, NPV (8%) of $616m, and IRR of 180% at $4,100 AUD/oz gold price.

• No debt, no hedging, and pro-forma cash of $71m after a $60m institutional placement.

• Mineral Resource stands at 1.2Moz @ 3.0g/t gold, with Ore Reserve of 400koz @ 3.1g/t gold.

• Processing plant upgraded to 600ktpa, with further expansion study planned for FY26.

Project assets and infrastructure

• 100% ownership of Murchison Gold Project, including Andy Well (underground), Turnberry (open pit/underground), and St Anne's (open pit).

• Extensive infrastructure: upgraded CIL plant, sealed airstrip, highway access, new accommodation and administration complexes.

• Open pit mining at St Anne's North underway, with grades improving to >4g/t Au by August 2025.

• Stage 1 oxide open pits to produce 55koz @ 2.6g/t Au, with significant resource expansion potential from ongoing drilling.

• Andy Well underground mine to restart July 2025, 12 months ahead of schedule, leveraging existing decline and high-grade resource.

Financials and capital structure

• Market capitalisation of $440m pre-placement, with 2,516m shares and $11m cash as of 31 May 2025.

• $60m institutional placement at $0.15/share, a 10.3% discount to 10-day VWAP, increasing pro-forma cash to $71m.

• Enterprise value remains at $429m post-placement, with no debt.

• Placement proceeds allocated to mining fleet mobilisation, growth drilling, gold price protection, and plant expansion study.

• Top 20 holders own 47%, board and management 6%, and institutions 40% pre-placement.