Saturn Metals (STN) RRS Gold Coast 2025 summary

Project overview and geology

• Developing a new open pit and heap leach gold operation in Western Australia’s Greenstone Belt, a prolific gold-producing region.

• Project area covers 1,000 sq km with strong infrastructure and a 53% institutional shareholder base, mainly North American.

• Geology and mineral processing characteristics support low-cost, efficient gold production.

• Bulk mining approach with a low strip ratio (1.5:1), supporting low unit mining costs and efficient resource conversion.

• Consistent year-on-year resource growth and strong grade control results.

Resource, economics, and metallurgical highlights

• All gold is in quartz veins, easily liberated and processed, with favorable recovery rates.

• Pre-Feasibility Study (PFS) due December, targeting 10 million tons per year for 10 years, producing 122,000 ounces annually.

• All-in sustaining cost is about $24/ton, with potential annual free cash flow of $210 million at higher gold prices.

• At $3,500/oz gold, project shows $90 million free cash flow, 30% IRR, and 2.8-year payback; current gold price is $5,500/oz.

• Project compares favorably to global peers in terms of cost structure and scale.

Processing, exploration, and growth plans

• Three-stage crushing circuit eliminates need for grinding, reducing capital and operating costs.

• Recent upgrades include high-pressure grinding rolls and improved screening for consistent heap leach feed.

• 65,000 meters drilled, revealing both consistent bulk grades and emerging high-grade shoots.

• Ongoing exploration targets new high-grade zones and regional prospects, with 16 prospects identified.

• Recent ground acquisition from Sumitomo Metal Mining adds further growth potential.