Ballard Mining Limited · ASX:BM1
Ballard Mining — Shareholder Meeting (November 2025)
30 slides from Ballard Mining's shareholder meeting presentation, Nov 28, 2025
Slide 1: 2025 Annual General Meeting
For personal use only 2025 Annual General Meeting 28 November 2025 ballardmining.com.au
Slide 2: Proxy Results: Remuneration Report
Proxy Results For personal use only RESOLUTION 1 – REMUNERATION REPORT To consider and, if thought fit, to pass with or without amendment, as a non-binding ordinary resolution the following: 'That, pursuant to and in accordance with section 250R(2) of the Corporations Act and for all other purposes,
Slide 3: Proxy Results: Re-election of Mr Stuart Mathews
Proxy Results For personal use only RESOLUTION 2 – RE-ELECTION OF MR STUART MATHEWS AS A DIRECTOR To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: 'That, pursuant to and in accordance with Listing Rule 14.5, article 7.3(c) of the Constituti
Slide 4: Proxy Results: Ratification of Appointment of Auditor
Proxy Results For personal use only RESOLUTION 3 – RATIFICATION OF APPOINTMENT OF AUDITOR To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: 'That, pursuant to and for the purposes of section 327B of the Corporations Act and for all other pur
Slide 5: Proxy Results: Termination Benefits to Executive Directors and Senior Management
Proxy Results RESOLUTION 4 – APPROVAL OF POTENTIAL TERMINATION BENEFITS TO For personal use only EXECUTIVE DIRECTORS AND SENIOR MANAGEMENT To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: 'That, pursuant to and in accordance with Part 2D.2
Slide 6: Proxy Results: Termination Benefits to Non-Executive Directors
Proxy Results RESOLUTION 5 – APPROVAL OF POTENTIAL TERMINATION BENEFITS TO NON For personal use only EXECUTIVE DIRECTORS To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: ‘That, pursuant to and in accordance with Part 2D.2 of the Corporation
Slide 7: Proxy Results: Ratification of Blue Ribbon Consideration Shares
Proxy Results For personal use only RESOLUTION 6 – RATIFICATION OF BLUE RIBBON CONSIDERATION SHARES To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: ‘That, pursuant to and in accordance with Listing Rule 7.4 and for all other purposes, Shar
Slide 8: Proxy Results: Ratification of AK Consideration Shares
Proxy Results For personal use only RESOLUTION 7 – RATIFICATION OF AK CONSIDERATION SHARES To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: ‘That, pursuant to and in accordance with Listing Rule 7.4 and for all other purposes, Shareholders
Slide 9: Proxy Results: Approval of 10% Placement Facility
Proxy Results For personal use only RESOLUTION 8 – APPROVAL OF 10% PLACEMENT FACILITY To consider and, if thought fit, to pass with or without amendment, as a special resolution the following: 'That, pursuant to and in accordance with Listing Rule 7.1A and for all other purposes, Shareholders approv
Slide 10: Proxy Results: Ratification of Placement Shares
Proxy Results For personal use only RESOLUTION 9 – RATIFICATION OF PLACEMENT SHARES ISSUED UNDER LISTING RULE 7.1 To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: 'That, pursuant to and in accordance with Listing Rule 7.4 and for all other
Slide 11: Proxy Results: Issue of Shares to Mr Simon Lill
Proxy Results For personal use only RESOLUTION 10 – ISSUE OF SHARES TO MR SIMON LILL UNDER THE DIRECTOR PLACEMENT To consider and, if thought fit, to pass with or without amendment, as an ordinary resolution the following: That, pursuant to and in accordance with Listing Rule 10.11 and for all other
Slide 12: 2025 AGM Managing Directors' Presentation
For personal use only 2025 AGM MANAGING DIRECTORS’ PRESENTATION 28 November 2025 ballardmining.com.au
Slide 13: Disclaimer
DISCLAIMER The following notices and disclaimers apply to this Presentation ("Presentation") and you are therefore advised to NOT FINANCIAL PRODUCT ADVICE read this carefully before reading or making any other use of this Presentation or any information contained in this Presentation. This Presentat
Slide 14: Disclaimer
DISCLAIMER NO LIABILITY MINERAL RESOURCE ESTIMATE (MRE) The information contained in this Presentation has been prepared in good faith by Ballard. However, no guarantee, Information in this Presentation that relates to exploration results, the data and geological interpretation used as the represent
Slide 15: Investment Highlights
INVESTMENT HIGHLIGHTS Grow and Develop: CY26 drilling to focus on adding scale 1. Corporate Summary 4. Baldock Fully Permitted For personal use only • IPO and demerger from Delta in July 2025 • Open-cut and underground mining approved • $40M Pro forma cash1 • 2.0 Mtpa Processing Plant and TSF approv
Slide 16: Corporate Summary
CORPORATE SUMMARY Corporate Structure Board and Key Management Personnel (previous roles) For personal use only Shares on Issue 378 Million Chair Simon Lill (De Grey) Performance Rights & Options Managing Director Paul Brennan (Saracen, Calidus) 22 Million Executive Director Tim Manners (Ramelius, W
Slide 17: Optionality: Has to beat 'Plan A'
01 O PT I O N A L I T Y. H a s t o b e a t ‘ P l a n A’ Vault Minerals (ASX:VAU) ~$5B Market Cap $30M1 Exploration Budget For personal use only Genesis Minerals (ASX: GMD) ~$7B Market Cap $40-$50M2 Exploration Budget Aurenne Group (Private) 1.8 Mtpa Plant Ora Banda Mining (ASX: OBM) ~$2B Market Cap
Slide 18: 'Plan A': Initial-year Ore Reserve, CY26 focus to grow mine plant
02 ‘ P L A N A’ : I n i t i a l 5 - 6 ye a r O re R e s e r ve, CY26 focus is to G ROW m i n e p l a n t o ~ 8 -1 0 ye a rs FY26 FY27 FY28 For personal use only Sep Q Dec Q Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q Develop 930koz1 Baldock BALDOCK INFILL DRILLING (complete Dec’25) ~
Slide 19: Fully Permitted
03 F U L LY P E R M I T T E D. Fundamental differentiator from other gold developers • Approved Mining Proposal and Mine Closure For personal use only Plan for Open Pit and Underground Mining at Baldock • Works Approval granted for 2.0 Mtpa Process Plant and TSF • Approved Native Vegetation Clearing
Slide 20: October 2025 Exploration Target
For personal use only October 2025 Exploration Target ballardmining.com.au
Slide 21: Statement of Exploration Target
04 S t a t e m e n t o f E x p l o ra t i o n Ta rge t IMPORTANT: You must read the following before continuing. The October 2025 Exploration Target reported for the Mt Ida Gold Project excludes and is in addition OCTOBER 2025 EXPLORATION TARGET BASIS The October 2025 Exploration Target presented ar
Slide 22: Structural Review
04 ST R U CT U R A L R E V I E W Swallow the Elephant one bite at a time • Mt Ida considered analogous to the +10Moz Agnew gold camp (~150km north) by renowned Structural Geologist Dr Sarah Jones For personal use only • Orogenic orebodies typically “plumb deep” o Agnew 1.4km deep1 mine. ~150km north
Slide 23: The Best Spot to Find a New Mine
04 T H E B E ST S P OT TO F I N D A N E W M I N E … …is at an existing FULLY PERMITTED mine. Orogenic Deposits Plumb Deep For personal use only Top 300m averages ~2,500 oz Per vertical metre, function of drilling 1. Refer to the Ballard IPO Prospectus lodged with the Australian Securities and Invest
Slide 24: Regional Exploration
04 • First Pass Phase 1 drill R EG I O N A L E X P LO R AT I O N Upside from 53 Exploration Targets – eg Neptune For personal use only program completed at Neptune • Neptune identified due to present of historical UG workings and HG rock chips • 23m @ 1.8 g/t from 21m Neptune Prospect historic worki
Slide 25: Neptune Example
04 N e p t u n e E xa m p l e Phase 2 drilling underway Neptune Phase 2 For personal use only Phase 1 drilling informs next phase at Neptune • Drilling now commenced • 40m x 40m spacing, targeting Neptune Prospect historic workings Maiden MRE March Quarter 350m (Inferred) 25 ballardmining.com.au
Slide 26: Investment Highlights
05 I N V E ST M E N T H I G H L I G H TS For personal use only LOCATION → +15Mtpa Processing Capacity and deep orebodies proximal CAMP SCALE EXPLORATION POTENTIAL → additional drilling to advance Exploration Target1 DUAL STREAM STRATEGY → Target +10 Year Plan from initial ~6 year Reserve + explorati
Slide 27: Appendix A: Mineral Resource Estimate
For personal use only Appendix A Mineral Resource Estimate 27 ballardmining.com.au
Slide 28: Mineral Resource Estimate – April 2025
A MINERAL RESOURCE ESTIMATE – APRIL 20251 Indicated Inferred Total For personal use only Cut off Deposit Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000s) g/t Au (000s) (000s) g/t Au (000s) (000s) g/t Au (000s) Baldock 2,600 4.5 365 1,570 3.6 200 4,120 4.2 563 Kestrel - - - 940 1.6
Slide 29: Appendix B: Previous ASX Announcements
For personal use only Appendix B Previous ASX Announcements 29 ballardmining.com.au
Slide 30: Previous ASX Announcements
B PREVIOUS ASX ANNOUNCEMENTS This announcement contains information extracted from ASX market announcements reported in accordance with the JORC Code. Further details (including JORC Code reporting tables where applicable) of exploration results referred to in For personal use only this announcement