Minerals 260 (MI6) Status update summary

Strategic growth and funding

• Market capitalization surged from AUD 30 million to AUD 1.4 billion in 12 months, driven by the Bullabulling Gold Project acquisition and a AUD 220 million equity raise.

• Franco-Nevada invested AUD 220 million, including a 1.45% royalty and a 4.9% equity stake at a premium, marking its largest Australian investment.

• Inclusion in the S&P/ASX 300 index is imminent, reflecting rapid corporate progress.

• High-quality institutional and retail investors have been attracted, validating the asset and management.

Project development and milestones

• Bullabulling resource doubled to 4.5 million ounces in under a year, with a maiden ore reserve and PFS targeted for mid-year.

• Over 120,000 m drilled last year; 60,000 m more planned by July, with strong results not yet included in the current resource.

• Early works, village construction, and procurement of long lead items are underway, aiming for production by end of 2028.

• Accelerated permitting due to a granted mining lease and advanced environmental and native title agreements.

Operational and ESG considerations

• Studies underway for integrating renewables (solar, wind) with traditional energy sources to optimize costs and sustainability.

• Proximity to Kalgoorlie and established infrastructure provides significant logistical and approvals advantages.

• Fuel supply risks are managed, with minimal current impact due to project stage.