Valiant Gold (VAL) IPO presentation summary

Overview of the IPO and Corporate Structure

• Raising $65–$75 million through an IPO, with shares priced at $0.25 each and a market cap of $125–$135 million at listing.

• Spin-out from Westgold Resources, acquiring the Reedy and Comet gold projects in Western Australia.

• Post-IPO, Westgold retains 44.4% (subject to escrow), with 55.6% free float for new and priority investors.

• Funds will support drilling, mining studies, mine restarts, exploration, and working capital.

• Listing on the ASX is subject to regulatory approvals and completion of acquisition agreements.

Asset Portfolio and Production Pathway

• Two brownfields gold projects (Reedy and Comet) with a combined 227km² tenement package.

• Historical production exceeds 1Moz gold, with existing open pits and underground development.

• Combined Mineral Resource of 15.6Mt @ 2.4g/t Au for 1.2Moz, including 465koz in Measured & Indicated categories.

• Ore Purchase Agreement (OPA) with Westgold enables fast-tracked, low-capex production via the Meekatharra processing hub.

• Strategic location near established processing infrastructure supports near-term cash flow generation.

Exploration and Growth Potential

• Significant exploration upside at both projects, with underexplored zones along 4km (Comet) and 5km (Reedy) lines of lode.

• Planned resource definition and extensional drilling to expand and upgrade resources.

• Multiple high-priority targets identified for further evaluation and drilling.

• Near-term mine restart opportunities at Comet (Pinnacles) and Reedy (South Emu-Triton, Boomerang).