Minerals 260 (MI6) Diggers & Dealers Mining Forum 2025 summary

Strategic milestones and capital raising

• Raised AUD 220 million in April, a record 7x market cap at the time, enabling rapid project advancement.

• Acquisition of a significant asset from Zijin, expanding tenement package to 570 km².

• 2,150M shares on issue, market capitalisation of ~$220M, and ~$54M cash as of June 2025; no debt.

• Attracted high-quality shareholders, with the top 20 holding 65%.

• Substantial shareholders include institutions and board members, with strong liquidity and broker coverage.

Project overview and development strategy

• Advancing a 2.3Moz undeveloped gold project at Bullabulling, one of Australia's largest open-pittable gold deposits, with a near-term production target and significant exploration upside.

• Fully funded for all planned activities, with a final investment decision expected in 2027.

• Board comprises experienced mining executives, including former OZ Minerals colleagues, with a track record in major resource discoveries and project development.

• Project is located in a Tier 1 jurisdiction, 45 minutes from major infrastructure and services in Western Australia.

• Project leverages extensive historical data, including 12,000 historical drill holes and a 2012 PFS.

Resource details and exploration results

• Bullabulling hosts a JORC 2012 Mineral Resource of 60Mt at 1.2g/t Au for 2.3Moz, with 39Mt indicated and 21Mt inferred.

• Resource is open at depth and along the 8.5km strike, with drilling confirming continuity and extensions at key deposits.

• Initiated drilling within a week of capital raise, completing 53,000 m out of a planned 80,000 m.

• Recent drilling has delivered some of the highest gram x meter intercepts in project history, exceeding expectations and revealing gold at depth and along strike.

• Infill and extensional drilling continues to intersect gold mineralisation beneath Phoenix, Bacchus, and between Bacchus and Kraken.