Peel Mining (PEX) Diggers & Dealers Mining Forum 2025 summary

Strategic focus and company overview

• Focused on copper resources with significant assets in the Cobar Basin, Broken Hill, and Anabama, all in Australia.

• Holds a dominant land position: ~2,764km² in South Cobar, 860km² in Broken Hill, and 840km² in Anabama, with substantial institutional and director ownership.

• Market capitalisation at $33.5m with 581.1 million shares on issue as of June 2025; major shareholders include Perth Capital, Australian institutions, and St Barbara Limited.

• Operates with a small, efficient team and quality assets in Tier 1 jurisdictions, with over 35,000 acres of pastoral landholdings secured.

• Positioned as a key player in the Cobar Basin, with potential to supply third-party milling operations and support regional production.

Project portfolio and resource base

• South Cobar Project has a global mineral resource estimate of 22.9Mt at 2.20% CuEq for 500kt CuEq, with 67% in the Indicated category and five main deposits.

• Mallee Bull and Wirlong are advanced high-grade copper deposits, totaling 11Mt at 2% CuEq, with exploration declines approved and preliminary mine designs completed.

• Wagga Tank is a recent open-pittable copper-gold-silver discovery (3.56Mt at 0.59% Cu, 0.63g/t Au, 33g/t Ag), with ongoing metallurgical and geotechnical work and PFS evaluation targeted for March quarter 2026.

• Southern Nights is a high-grade underground silver-lead-zinc system, and May Day is a gold-rich deposit on a mining license, both with significant growth and exploration potential.

• All resources are 100% owned with no royalties, and most are in the indicated classification.

Exploration and development activities

• Ongoing PFS for South Cobar, with Wagga Tank evaluation expected by March quarter 2026 and focus on lower capital cost development paths.

• Mallee Bull and Wirlong are permitted for exploration declines and have advanced mine design work completed.

• Four major greenfields discoveries since 2011, with extensive geochemical surveys identifying new high-priority targets: Chuchi, Nombinnie, and Beanbah, all with drilling approvals.

• Beanbah is a Tier 1-scale target with strong geochemical anomalies, permitted for drilling.

• Metallurgical and geotechnical drilling programs are ongoing to support project advancement and resource confidence.