Slide 1: Pathway to Production | DFS Summary
Tim Davidson | Managing Director Pathway to Production | DFS Summary 30 May 2024
Slide 2: Important Information Disclaimer
IMPORTANT INFORMATION Disclaimer This information contained in this presentation is issued by Meeka Metals Limited (“Meeka” or the “Company”). The information contained herein is confidential and proprietary to the Company and is provided to recipients on the terms and conditions set out in this dis
Slide 3: On the Path to Production
On the Path to Production DFS defines high-grade, high value operation. Located in the tier 1 mining jurisdiction of Western Australia. 400,000oz of gold mined over 9 years, up to 64,000oz per annum. Undiscounted pre-tax free cash flow of $577M, NPV8% $344M and IRR 127% at the May 2024 spot gold pri
Slide 4: Capital Structure and Board and Management
Capital Structure Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Share Price (close price 29 May 2024) $/share 0.038 $0.05 8 Shares on Issue M 1,235 $0.04 6 Options on Issue M 113 $0.03 Market Capitalisation $M 46.9 4 Cash (31 Mar 2024) $M 3.8 $0.02 Debt $M - $0.01 2 Net Cash $M 3.8 $- - Enterprise Value
Slide 5: Excellent Operating Address in the Murchison
Excellent Operating Address in the Murchison ▪ 100% MEK ownership in: ✓ 1.2Moz @ 3.0g/t Au Mineral Resource. ✓ 305koz @ 3.8g/t Au in Ore Reserve. ▪ Significant opportunity to extend Mineral Resources and grow Ore Reserves with further drilling. ▪ An advanced pipeline of growth targets within 281km2
Slide 6: Key DFS Outcomes
Key DFS Outcomes Key Project Metrics Start-up Costs Initial Production Plan Years 9 Site Infrastructure and Camp $M 10 Processing Throughput (Fr-Ox) Kt pa 340-500 Processing Plant Recommissioning $M 21 Mine Production Koz 400 Open Pit Mining $M 7 Total Tonnes Processed Mt 3.4 Capitalised Operating C
Slide 7: DFS Economic Outcomes
DFS Economic Outcomes 350 350 At $3,250/oz: $348M ✓ Undiscounted free cash flow of $485 million pre-tax 300 300 and $348 million post-tax. Recommissioning phase ✓ NPV8% of $284 million pre-tax and $202 million post-tax. 250 250 ✓ IRR of 103% pre-tax and 84% post-tax. Post-tax Free Cash Flow ($M) ✓ P
Slide 8: Potential to Expand Production
Potential to Expand Production Low-capital mill expansion and production growth opportunity. Substantial opportunity to accelerate and 700 600kt stockpile build – investigation increase production through expansion of underway to increase gold production and reduce stockpile build by expanding the p
Slide 9: Base Case Sensitivity Analysis
Base Case Sensitivity Analysis ▪ The Project is more sensitive to volatility in operating costs than capital costs, however the Project continues to deliver positive cash flows under conservative assumptions. ▪ For each 15% change in capital costs there is a ~$35M change in pre-tax free cash flow. ▪
Slide 10: Low Capital Start-up Strategy
Low Capital Start-up Strategy Leverage existing processing infrastructure with a focussed, high-grade mining strategy. ▪ Existing infrastructure at Andy Well including: ✓ Processing plant Mill Workshop / Stores ✓ Mill workshop Powerhouse ✓ Stores building ✓ Powerhouse. ▪ The Andy Well CIL process pl
Slide 11: Simple Carbon-in-Leach (CIL) Processing
Simple Carbon-in-Leach (CIL) Processing The Project is based on recommissioning the existing 0.5Mtpa CIL processing facility at Andy Well. ▪ The plant was commissioned in July 2013 – the infrastructure remains in excellent condition and is easily expandable. ▪ Historically the plant performed except
Slide 12: Permitted Infrastructure, Rapid Restart, Potential Expansion
Permitted Infrastructure, Rapid Restart, Potential Expansion Minimal work required to re-commissioning and expand. 12
Slide 13: Site Layout and Access
Site Layout and Access ▪ Access via the Great Northern Highway. ▪ Mill and underground mine at Andy Well. ▪ Open pit mining at Turnberry and St Anne’s. ▪ New 20km haul road between Andy Well and Turnberry on a granted Miscellaneous Licence. ▪ Final development approvals expected in June 2024 quarter
Slide 14: High-Grade, Low Risk Oxide Open Pits
High-Grade, Low Risk Oxide Open Pits Turnberry and St Anne’s: high value open pit mill feed, derisks production start-up. ▪ Located on a granted Mining Lease, 15km southeast of existing processing plant. ✓ Turnberry: no prior mining depletion, averages ~1,600oz per vertical metre from surface to a d
Slide 15: High Value Production, Drilling Likely to Deliver Growth
High Value Production, Drilling Likely to Deliver Growth Andy Well: existing infrastructure = accelerated development timeline. ▪ >6km of existing capital development = accelerated production timeline. ▪ Initial seven years of planned high-grade, high value production. ▪ Gold is hosted in high-grade
Slide 16: Production and Cost Profile
Production and Cost Profile Open Pit Mining – includes mobilisation and site Costs $M $/t Milled $/oz establishment, drill and blast, ore and waste mining, mine management and technical services, Open Pit Mining1 39.1 60 761 and demobilisation costs. Underground Mining2 271.4 99 802 Underground Mini
Slide 17: Mine Physicals and Modifying Factors
Mine Physicals and Modifying Factors 70 7.0 Open Pit Metrics Units Base Case Average Grade (g/t) Ore Mined Mt 0.7 60 6.0 Gold Mined (Koz) Ore Grade g/t 2.6 50 5.0 Contained Gold Koz 55 40 4.0 Ore Reserve Strip Ratio (excluding pre-strip) x 12.5 30 3.0 A total of 5 shallow oxide open pits are planned
Slide 18: A 25km Long Growth Target
A 25km Long Growth Target The Archean Gnaweeda Greenstone Belt. ▪ The Fairway shear zone: ✓ 25km long Archean greenstone belt. ✓ Already hosts >700koz Au in Mineral Resource = fertile. ✓ Largely untested = compelling growth target. ▪ 90% of the greenstone belt has either no drilling or ineffective,
Slide 19: ESG and Project Permitting
ESG Providing opportunities for the local community. ▪ The local community of Meekatharra has supported mining and exploration activities, and the Project is anticipated to continue providing significant positive social benefits in the form of employment and commercial opportunities within the commu
Slide 20: Study Team
Study Team The Study was managed by the Company with recommendation, detailed design and review by independent technical experts. Discipline Company / Consultant Mineral Resource Estimation RSC Mining Plus Geotechnical – Open Pit Peter O’Bryan and Associates MineGeoTech Mining One Geotechnical – Und
Slide 21: Key Risks
Key Risks The Company considers the following key risks represent important factors relevant to the successful development and continued operation of the Project. Funding – To achieve the range of outcomes indicated in the Study, funding of $44M is required. This Study documents the order of funding
Slide 22: Key Risks
Key Risks Mineral Resource and Ore Reserve – Mineral Resource and Ore Reserve estimates are expressions of judgement based on knowledge, experience and industry practice, including compliance with the 2012 JORC Code. These estimates are imprecise and depend on interpretations that may prove to be in
Slide 23: eos
eos ASX:MEK (08) 6388 2700 info@meekametals.com.au meekametals.com.au DISCOVER GROW DEVELOP