Meeka Metals Limited · ASX:MEK
Meeka Metals — Investor Presentation (June 2025)
27 slides from Meeka Metals's investor presentation, Jun 19, 2025
Slide 1: Accelerating Production, Adding Ounces
Accelerating Production, Adding Ounces Presentation 19 June 2025 ASX:MEK meekametals.com.au Not for release to US wire services or distribution in the United States
Slide 2: Important Information
Important Information Disclaimer Mineral Resources This information contained in this presentation is issued by Meeka Metals Limited (“Meeka” or the “Company”). The The information that relates to the Mineral Resource for Turnberry was first reported by the Company on 6 May 2024. The information con
Slide 3: 10-year Production Plan Delivers $1bn FCF
10-year Production Plan Delivers $1bn FCF Pre-eminent mining jurisdiction – Western Australia. FS2.0 – 10-year production plan up to 76koz pa, average 65koz pa for first 7 years. Undiscounted pre-tax free cash flow $1bn, NPV8% $616m, IRR 180% (@$4,100 AUD/oz). Open pit mining ramping up with third m
Slide 4: Capital Structure Before Placement
Capital Structure Before Placement $0.20 70.0 $0.18 60.0 $0.175 2,516m $0.16 $0.14 50.0 Price (A$/share) share price Volume (m) $0.12 (16 June 2025) shares 40.0 $0.10 30.0 $0.08 $0.06 20.0 $440m1 31m $0.04 $0.02 10.0 market cap options $- - $11m nil cash debt Ownership Before Placement (31 May 2025)
Slide 5: Leadership
Leadership Have done it before and are well aligned (have invested $4m in the Company to date). Board Management Paul Chapman Chris Davidson - Chief Development Officer Non-Executive Chairman MINING ENGINEER ACCOUNTANT Mine manager for Silver Lake Resources responsible for developing their newest Ch
Slide 6: Murchison Gold Project Overview
Murchison Gold Project Overview 100% MEK ownership in: 1.2Moz @ 3.0g/t Au Resource 400koz @ 3.1g/t Au Reserves Extensive established site and regional infrastructure: Existing CIL processing plant ~600ktpa (replacement cost ~$100M) Sealed airstrip in Meekatharra (saves ~$15M capital) Sealed highway
Slide 7: Initial Year Production Plan
Initial 10 Year Production Plan 65koz pa average annual gold sales over first 7 years at ~$2,000/oz AISC. Elevated AISC in Y9 & Y10 due to $3,500 AUD/oz non-cash inventory adjustments $4,100 AUD/oz Ramp up in production driven by (processing stockpiles) Base Case 80 increasing grade as UG mines $3,0
Slide 8: Murchison Gold Project Site Layout
Murchison Gold Project Site Layout. ASX:MEK meekametals.com.au 8
Slide 9: Expanded Capacity to Accommodate Both Open Pit and Underground Workforce
Expanded Capacity to Accommodate Both Open Pit and Underground Workforce Kitchen, dining room and wet mess RO plant Gym Power station 160-person accommodation village Processing plant and administration complex – 1km ASX:MEK meekametals.com.au 9
Slide 10: Upgraded Processing Plant
Upgraded Processing Plant Processing capacity increased to 600kt per annum. Ability to further expand the processing capacity, expansion study planned for FY26. Higher capacity secondary crusher New cyclone structure and gravity gold circuit 2x new 600m3 CIL tanks Larger 750kW ball mill installed Up
Slide 11: Open Pits in Ore, Getting Bigger and Better
Open Pits in Ore, Getting Bigger and Better Third mining fleet mobilising in Jun-25 for expanded open pit mining operations. St Anne’s North producing ore now, grade improving: • >3g/t Au in Jul-25 • >4g/t Au in Aug-25 ASX:MEK meekametals.com.au 11
Slide 12: High-Grade, Low-Cost Oxide Open Pits Fill the Mill in FY2026
High-Grade, Low-Cost Oxide Open Pits Fill the Mill in FY2026 Significant opportunity to expand open pit production. Total open pit Mineral Resource 360koz @ 1.4g/t Au (86% M&I). Stage 1 oxide open pits produce 55koz @ 2.6g/t Au (optimised at $2,350 AUD/oz). Significant opportunity to expand open pit
Slide 13: Turnberry Open Pits Getting Better With Drilling
Turnberry Open Pits Getting Better With Drilling FY25 Drilling results likely to expand Stage 1 open pit production. Ongoing drilling along strike from Stage 1 open pits is returning shallow high-grade gold and highlights the potential to grow Reserves and open pit production. New shallow open pit d
Slide 14: Andy Well Underground
Andy Well Underground High-grade, rapid, low capital re-start from existing decline development. High-grade 505koz @ 8.6g/t Au Mineral Resource (73% M&I). 7 years of production based on existing Resource. Accelerated production timeline with 6km of existing development. Mining previously stopped in
Slide 15: Andy Well Underground
Andy Well Underground Rapid re-start in July 2025, 12 months ahead of DFS2.0 schedule. Development schedule brought forward to de-risk FY26 and FY27 production plan. Development commencing July 2025 (12 months ahead of DFS2.0 schedule). Cross Section First 18 Months of Production Low capital re-star
Slide 16: Andy Well Growth
Andy Well Growth Open down plunge, drilling from underground platforms starting in 2025. ASX:MEK meekametals.com.au 16
Slide 17: 25km Long Archean Greenstone Belt
25km Long Archean Greenstone Belt Significant organic growth opportunity at Gnaweeda. Currently >700koz Au in Resource. 25km contact with major regional structure (Boundary Shear Zone). Largely untested. 90% of the greenstone belt has no drilling or ineffective, broad spaced reconnaissance RAB drill
Slide 18: Overview of Equity Raising
Overview of Equity Raising Institutional placement to raise $60m. • Placement to raise $60m under Company’s placement capacity under ASX Listing Rules 7.1 and 7.1A (Placement). • Offer price of $0.15 per share represents: Offer structure and o 10.3% discount to the 10-day VWAP1 size o 4.1% discount
Slide 19: Sources and Uses of Funds
Sources and Uses of Funds Accelerating growth drilling programs, expanding open pit mining operations and adding gold price protection. Sources of Funds $m Cash (31 May 2025) 11 Gross proceeds of Placement 60 Total Sources 71 Uses of Funds $m 3rd Open pit mining fleet to expand and accelerate open p
Slide 20: Capital Structure
Capital Structure Pro-forma capital structure including $60m institutional placement. Units Current Pro-forma Market capitalisation1 $m 440 440 Institutional Placement2 $m 60 Market capitalisation $m 440 500 Cash2,3 $m 11 71 Debt $m - - Net cash $m 11 71 Enterprise value $m 429 429 1 Assumes market
Slide 21: Key Risks
Key Risks Set out in this section are potential risks associated with Company, the Placement, the industry in which the Company operates and an investment in the Company’s shares. It is not an exhaustive list of every risk faced by the Company now or in the future. Global economic Changes in global
Slide 22: Key Risks Continued
Key Risks Continued The Company’s success depends on the continued services of its key personnel. Due to management’s experience and the important role they have taken in developing the Company’s mining, business and financial plans, the Company could be adversely affected if any of the key manageme
Slide 23: Key Risks Continued
Key Risks Continued The Company’s business is subject to a number of risks and hazards generally, including adverse environmental conditions, industrial accidents, labour disputes, code of conduct breaches, unusual or unexpected geological conditions, ground or slope failures and natural phenomena s
Slide 24: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any
Slide 25: International Offer Restrictions Continued
International Offer Restrictions Continued This document constitutes an offering of New Shares only in the Provinces of British Columbia, Ontario and Quebec (the “Provinces”), only to persons to whom New Shares may be lawfully distributed in the Provinces, and only by persons permitted to sell such
Slide 26: International Offer Restrictions Continued
International Offer Restrictions Continued This document has not been, and will not be, registered with or approved by any securities regulator in the European Union. Accordingly, this document may not be made available, nor may the New Shares be offered for sale, in the European Union except in cir
Slide 27: Contact
Contact Tim Davidson | Managing Director +61 8 6388 2700 info@meekametals.com.au ASX:MEK meekametals.com.au