Meeka Metals Limited · ASX:MEK
Meeka Metals — Shareholder Meeting (November 2024)
22 slides from Meeka Metals's shareholder meeting presentation, Nov 29, 2024
Slide 1: Accelerating Toward First Gold in 2025
Accelerating Toward First Gold in 2025 AGM Presentation 29 November 2024 ASX:MEK meekametals.com.au
Slide 2: Important Information
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: High Margin, Straightforward, Expanded Development
High Margin, Straightforward, Expanded Development Pre-eminent mining jurisdiction – Western Australia. DFS completed May ’24, low-capex restart, mining up to 64,000oz pa. First gold targeted for mid-2025. Undiscounted pre-tax free cash flow $577m, NPV8% $344m, IRR 127% and 7-month payback. Processi
Slide 4: Capital Structure
Capital Structure $0.10 60.0 $0.072 50.0 2,375m $0.08 Price (A$/share) 40.0 share price Volume (m) $0.06 (28 November 2024) shares 30.0 $0.04 20.0 $171m 138m $0.02 10.0 market cap options $- - $55m nil cash Ownership (28 November 2024) debt (November 2024) 7% 56% $116m Board & Management Top 20 Hold
Slide 5: First Gold Targeted for Mid-2025
First Gold Targeted for Mid-2025 Strong re-rate potential. • Sector average enterprise value (EV) per production ounce for producers = $11,100/oz. • Meeka EV per production ounce = $2,320 ($116m EV, ~50koz average first 6 years per May ’24 DFS) 25,000 EV per annual production ounces* 20,000 producer
Slide 6: Leadership
Leadership Have invested $3.5m 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 Chartered accountant with >30 years in the
Slide 7: Murchison Gold Project – Production Ready
Murchison Gold Project – Production Ready 100% MEK ownership in: Upgrade underway based on increased processing • 1.2Moz @ 3.0g/t Au Mineral Resource capacity and additional • 305koz @ 3.8g/t Au Ore Reserve drilling. Extensive established site and regional infrastructure: • Existing CIL processing p
Slide 8: Murchison Gold Project
Murchison Gold Project 9 year initial plan: New open pits at Turnberry and St Anne’s Restart high-grade Andy Well underground mine Road access via the Great Northern Highway. Existing processing plant currently being expanded. 20km haul road between Andy Well and Turnberry on a granted Miscellaneous
Slide 9: Expansion works on existing processing plant to 640ktpa now well underway
Expansion works on existing processing plant to 640ktpa now well underway ASX:MEK meekametals.com.au 9
Slide 10: Process plant expansion and re-start works during November 2024
Powerhouse Process plant expansion and re-start works during November 2024 Mining administration complex Process administration New ball mill foundation Foundations for new tanks Workshop and stores New tank skins being fabricated ASX:MEK meekametals.com.au 10
Slide 11: Expanded 136-person accommodation village nearing completion
Underground mine Processing plant and administration complex Open pit mining area – 19km New village power station installed RO plant commissioned New kitchen and mess hall being installed Expanded 136-person accommodation village nearing completion, full commissioning in December 2024. ASX:MEK meek
Slide 12: May '24 DFS Outlines Strong Cash Flows
May ’24 DFS Outlines Strong Cash Flows Expected to get better with increased production in Dec ’24 DFS update. $577m $344m 127% Undiscounted free NPV8% of $344m IRR of 127% pre- cash flow of $577m pre-tax and tax and 100% pre-tax and $413m $244m post-tax post-tax post-tax Recommissioning phase 7 Mon
Slide 13: Bigger Mill Improved Outcome in updated DFS in Dec '24
Bigger Mill Improved Outcome in updated DFS in Dec ’24 30% increase in processing capacity All infrastructure including No change in development costs – from May ’24 DFS with purchase of accommodation village, admin / expansion costs included in May ’24 larger ball mill, motor office buildings, unde
Slide 14: May '24 DFS Production Plan vs Expanded Processing Capacity
May ’24 DFS Production Plan vs Expanded Processing Capacity Indicative processing capacity available following 700 commissioning in mid-2025 700 Dec ’24 DFS Update to integrate larger 600 600 mill and 500 500 additional production Ore Tonnes (Kt) 400 400 sources into the 300 300 plan to better utili
Slide 15: Low Risk, Low-Cost Oxide Open Pits in First 12 Months
Low Risk, Low-Cost Oxide Open Pits in First 12 Months Recent drilling focused on near-surface open pit DFS = 55koz @ 2.6g/t Au resource = 10,882m (121 holes) of infill drilling. $2,300/oz pit shells 360koz @ 1.4g/t Au open pit Mineral Resource (86% M&I). Only oxide ore considered in DFS mine p
Slide 16: Further Drilling Below Turnberry Open Pits to Deliver Underground Growth
Further Drilling Below Turnberry Open Pits is Expected to Deliver Underground Growth average 1,600 OVM’s to a depth of 200m (where density of drilling reduces) Lack of drilling below 200m growth drilling growth drilling target area growth drilling target area target area metal endowment expected to
Slide 17: Andy Well Underground
Andy Well Underground High-grade, low capital re-start from existing decline development. • High-grade 505koz @ 8.6g/t Au Mineral Resource (73% M&I). • Initial 7 years of production planned. • Mining stopped in 2017 at ~A$1,550/oz gold price. • Re-access underground mine in Jan-25. • All lodes remai
Slide 18: Andy Well Underground
Andy Well Underground Rapid, low risk re-start in CY25. • Accelerated production schedule following expansion in available processing capacity. • Mining to commence in first half of CY25. First ~12-18 months of mining all from existing capital development. Oblique view • Low capital re-start with ex
Slide 19: Andy Well Growth
Andy Well Growth Drilling to deliver resource growth in CY25. Stage 1 Drilling: up-dip extension of high- grade shoot Au ppm 11.4m @ 14.2g/t Au up to 1,500 OVM’s in top 400m 3.5m @ 34.4g/t Au Stage 2: growth drilling down Stage 3: infill plunge high- and extend grade shoot 3.9m @ 9.4g/t Au high-grad
Slide 20: Looking Forward Through FY26
Looking Forward Through FY26 Progress versus plan. FY25 FY26 Q1 Q2 Q3 Q4 Q1 Q2 Studies DFS Update – Expanded Processing Capacity Open pit grade control drilling Drilling Turnberry growth drilling targeting UG extensions Andy Well growth drilling from UG drill platforms Camp support infrastructure in
Slide 21: Source Information
Source Information Basis for EV per production ounce for producers. Company Share Price Shares Cash Debt Production Share Price ASX Announcement Date $ m $m $m oz @ Date No. Shares Cash Debt Production CMM 6.440 411 345 50 113,007 28/11/2024 30/10/2024 30/10/2024 30/10/2024 26/07/2024 GMD 2.520 1,12
Slide 22: Contact
Contact Tim Davidson | Managing Director October 2024 +61 8 6388 2700 info@meekmetals.com.au ASX:MEK meekametals.com.au