Medallion Metal Ltd · ASX:MM8
Medallion Metal — Medallion Metals — Investor Presentation (September 2025)
23 slides from Medallion Metal's investor presentation, Sep 17, 2025
Slide 1: Investor Presentation
17 September 2025 ASX:MM8 Investor Presentation For personal use only Medallion Metals Limited’s (ASX:MM8, the Company or Medallion) Managing Director, Paul Bennett will be providing a range of investor updates this week. The presentation to be delivered is attached. This announcement is authorised
Slide 2: Ravensthorpe-Forrestania Sulphide Production Strategy
ASX: MM8 medallionmetals.com.au For personal use only Ravensthorpe- Forrestania Sulphide Production Strategy Rapid pathway to strong cashflows, leveraging infrastructure to unlock value and returns Investor Presentation SEPTEMBER 2025
Slide 3: Important Notices
Important Notices (Read in conjunction with Appendices 6 & 7) Nature of Document This presentation has been prepared and issued by Medallion Metals Ltd (Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a c
Slide 4: Investment Highlights: Rapid, Low Capex, High Margin Gold Production
Investment Highlights: Rapid, Low Capex, High Margin Gold Production Attractively priced near-term Western Australian gold production opportunity For personal use only Asset Quality Valuation Upside Strategic Positioning 1.6Moz AuEq1,2 Strong returns Infrastructure, Global Mineral Resource at Ravens
Slide 5: Corporate Overview
Corporate Overview ASX: MM8 Price/Volume (12 months) 0.50 5.0 For personal use only 0.40 4.0 Volume (M) 0.30 3.0 $/share John Fitzgerald Paul Bennett Anthony James Richard Hill Non-Executive Chair Managing Director Non-Executive Chief Financial 0.20 2.0 Director Officer Mr Fitzgerald has over Mr Ben
Slide 6: WA Developers Re-Rated for Near-Term Cashflow
WA Developers Re-Rated for Near-Term Cashflow Market beginning to reward proximity/likelihood of cashflow (peer deposits are not new discoveries) MCap ($m) Mcap ($m) 2/1/24 For personal use only 861.6 Mcap ($m) 12/9/25 539.4 325.0 307.0 281.4 271.3 72.9 49.4 66.5 37.9 18.5 58.7 Market response to pr
Slide 7: Sulphide Production Strategy
Sulphide Production Strategy Low-capex, low-risk, rapid path to production and near-term cashflow For personal use only Resource + Infrastructure = Cashflow Leverage FNO infrastructure − Flotation plant, TSF, grid power − Camp, airstrip, supporting infrastructure & Bring Ravensthorpe Mineral systems
Slide 8: Scoping Study Production Metrics
Scoping Study Production Metrics High grade, high recovery of gold-copper-silver to concentrate & ore Refer to Appendix 3 for further information relating to the Scoping Study. For personal use only 2.7Mt @ 3.9g/t Au & 0.6% Cu 0.5Mt per annum 5.5 years Dore & Concentrate 98% Au, 80% Cu 70kozpa AuEq
Slide 9: Scoping Study Financial Metrics
Scoping Study Financial Metrics Modest upfront capital and rapid payback deliver outstanding risk adjusted returns on investment Refer to Appendix 3 for further information relating to the Scoping Study. For personal use only Levered to Growth Financial Base Spot (11/9/25) Project Cashflow NSR $m 1,
Slide 10: RGP Mineral Resource
RGP Mineral Resource Significant mineral system within 400m of surface, open in multiple directions Refer to Appendices 1 & 2 for further information relating to RGP Mineral Resources. Isometric projection of Kundip MRE, looking down and to the east. For personal use only 2.5km system strike length,
Slide 11: District Scale Growth Opportunity
District Scale Growth Opportunity Multiple opportunities to develop the Forrestania-Ravensthorpe belts into a significant gold producing region Forrestania Greenstone Belt For personal use only (FGB) Discovery Potential Highly prospective Underexplored ~1.3Moz @ 5g/t Au ~160km strike tenement packag
Slide 12: Pathway to FID and First Cashflow
Pathway to FID and First Cashflow Multiple catalysts for potential re-rating as Medallion advances workstreams to achieve Final Investment Decision (FID) and progress to production Q3 CY25 Q4 CY25 Q1 CY26 Q2 CY26 Q3 CY26 Q4 CY26 For personal use only CORPORATE Exclusivity Binding Documents Transacti
Slide 13: Why Invest in Medallion Metals
ASX : MM8 Why Invest in Medallion Metals Low risk and rapid transition to high margin producer in Western Australia For personal use only Medallion Value Proposition Grade + Scale Tier-1 Jurisdiction Clear Plan 5.7Mt @ 4.6g/t Au + 0.6% Cu; WA, permits advanced, Path to +70kozpa, dominant sulphide on
Slide 14: Appendices
13 For personal use only Appendices
Slide 15: RGP Mineral Resources – Sulphide Subset
Appendix 1 RGP Mineral Resources – Sulphide Subset Mineral resource estimate for the Ravensthorpe Gold Project (fresh component) For personal use only Mineral resources estimate for the Kundip Mining Centre – COG > 2.0g/t AuEq, August 2025 Total Resources kt Au g/t Au koz Cu % Cu kt Indicated 3,150
Slide 16: RGP Mineral Resources - Global
Appendix 2 RGP Mineral Resources - Global Mineral resource estimate for the Ravensthorpe Gold Project, August 2025 For personal use only Mineral resources estimate for the Kundip Mining Centre – August 2025 INDICATED INFERRED TOTAL RESOURCES kt Au g/t Au koz Cu % Cu kt kt Au g/t Au koz Cu % Cu kt kt
Slide 17: Scoping Study Outcomes & Assumptions
Appendix 3 Scoping Study Outcomes & Assumptions Project Statistics Parameter Production Units Base Case Spot Pricing Study Highlights: Mill throughput rate ktpa 500 500 • Initial production inventory of 2.7Mt @ 3.9 g/t Au & 0.6 % Cu for 342 koz Au & 16 kt Cu contained Life of mine years 5.5 5.5 • To
Slide 18: Forrestania Asset Sale Agreement – Summary Terms
Appendix 4 Forrestania Asset Sale Agreement – Summary Terms Binding, conditional agreement to acquire the Forrestania Nickel Operation (FNO), between Medallion & IGO Ltd (Transaction) For personal use only Transaction Transaction Rights & Obligations Conditions Precedent Assets Consideration post Tr
Slide 19: Approvals Pathway – Advanced Status
Appendix 5 Approvals Pathway – Advanced Status Forrestania fully permitted, Ravensthorpe significantly advanced For personal use only EPBC Act (Cth) EP Act (WA) Mining Act (WA) − Environment Protection and Biodiversity − Ministerial Statement 1143 allows − EPBC Act & EP Act = Primary Approvals Conse
Slide 20: Additional Disclosures
Appendix 6 Additional Disclosures Cautionary Statement The Scoping Study (Study) referred to in this presentation has been undertaken by Medallion to evaluate the technical and commercial viability of establishing an underground mining operation at its Ravensthorpe Gold Project and trucking of the m
Slide 21: Risk Factors
Appendix 7 Risk Factors Exploration & Development The reader should understand that mineral exploration and development are high-risk undertakings. There can be no assurance that future exploration of the Company’s tenements, or any other mineral licences that may be acquired in the future, will For
Slide 22: Company Data Sources
Appendix 8 Company Data Sources (at 11 September 2025) For personal use only Company Black Cat Brightstar Meeka Rox Astral Medallion (ASX: BC8) (ASX: BTR) (ASX: MEK) (ASX: RXL) (ASX: AAR) (ASX: MM8) Market Capitalisation (A$m), $71.4 million $37.9 million $49.4 million $66.5 million $58.7 million $1
Slide 23: Contact
CONTACT For personal use only info@medallionmetals.com.au medallionmetals.com.au MAIN OFFICE Level 1, 50 Kings Park Road, West Perth WA 6005 (08) 6424 8700 PROJECT 91 Queen Street, Ravensthorpe WA 6346 @MM8_Medallion
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