Meeka Metals Limited · ASX:MEK
Meeka Metals — Bell Potter Unearthed Conference 2025
23 slides from Meeka Metals's conference presentation, Feb 11, 2025
Slide 1: Bell Potter Unearthed Conference Presentation
Bell Potter Unearthed Conference Presentation 11 February 2025 ASX:MEK meekametals.com.au
Slide 2: Important Information
Important Information Disclaimer Lawrence consents to the inclusion in the report of the matters based on his information in the form and context in which it This information contained in this presentation is issued by Meeka Metals Limited (“Meeka” or the “Company”). The appears. information contain
Slide 3: 10-year Production Plan Delivers $1B FCF
10-year Production Plan Delivers $1B FCF Pre-eminent mining jurisdiction – Western Australia. Murchison Gold Project FS2.0 – 10-year production plan up to 76koz pa, MEEKA METALS LIMITED 100% average 65koz pa for first 7 years. Mineral Resource: Ore Reserve: 1.2Moz @ 3.0g/t Gold 400koz @ 3.1g/t Gold
Slide 4: Capital Structure
Capital Structure $0.14 70.0 $0.12 60.0 $0.115 2,493m $0.10 50.0 Price (A$/share) share price Volume (m) (7 February 2025) shares $0.08 40.0 $0.06 30.0 $0.04 20.0 $287m 55m $0.02 10.0 market cap options $- - $55m nil cash debt Ownership (31 December 2024) (January 2025) 6% 50% $232m Board & Manageme
Slide 5: 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 6: Murchison Gold Project Overview
Murchison Gold Project Overview 100% MEK ownership in: 1.2Moz @ 3.0g/t Au Mineral Resource 400koz @ 3.1g/t Au Ore Reserve Extensive established site and regional infrastructure: Existing CIL processing plant (replacement cost ~$80M) Sealed airstrip in Meekatharra (saves ~$15M capital) Sealed highway
Slide 7: Murchison Gold Project
Murchison Gold Project 10-year initial plan: New open pits at Turnberry and St Anne’s Restart high-grade Andy Well underground mine New underground mine at Turnberry Road access via the Great Northern Highway. Existing processing plant currently being expanded. 20km haul road between Andy Well and T
Slide 8: Strong Free Cash Flows
Strong Free Cash Flows Exceptional financial outcomes driven by 40% growth in production. The Company has no hedging in place and retains full 160 800 exposure to the gold price. 701 140 Every $100/oz increase in gold price, increases undiscounted 700 pre-tax free cash flow by ~$52M. 133 120 Free ca
Slide 9: Compelling Production and Cost Profile
Compelling Production and Cost Profile 65koz pa average annual gold sales over first 6 years at ~$2,000/oz AISC. Elevated AISC in Y9 & Y10 is 80 due to non-cash inventory $3,000 adjustments (processing LOM average head grade of 3.0g/t Au. 76 stockpiles) 2,846 70 72 71 Peak gold production of 76koz i
Slide 10: Expansion works on existing processing plant now well underway
Expansion works on existing processing plant now well underway ASX:MEK meekametals.com.au 10
Slide 11: Processing plant works, November 2024
Powerhouse November 2024 Mining administration complex Process administration Workshop and stores Foundations for new tanks New ball mill foundation New tank skins being fabricated ASX:MEK meekametals.com.au 11
Slide 12: Processing plant works, January 2025
Powerhouse January 2025 Laboratory new cyanide storage tank Process administration 1x new 145m3 CIL tank Ball mill ready for installation 2x new 600m3 CIL tanks Workshop and stores New ball mill foundation ASX:MEK meekametals.com.au 12
Slide 13: Accommodation village, June 2024
June 2024 Accommodation village location 136-person accommodation village ASX:MEK meekametals.com.au 13
Slide 14: Site infrastructure, January 2025
Underground mine Open pit mining area – 20km January 2025 Processing plant and administration complex Power station 136-person accommodation village RO plant New kitchen and mess hall ASX:MEK meekametals.com.au 14
Slide 15: Open pit infrastructure setup progressing rapidly
February 2025 Open pit infrastructure setup progressing rapidly Turnberry open pit and underground administration and workshop complex Heavy vehicle workshop 125t digger on site getting assembled, 200t digger arriving mid-February Heavy vehicle go bay ASX:MEK meekametals.com.au 15
Slide 16: St Anne's open pit, February 2025
February 2025 St Anne’s open pit Waste dump St Anne’s North Stage 1 open pit crest 70,000kg Caterpillar D10 bulldozer for scale St Anne’s South Stage 1 open pit crest ASX:MEK meekametals.com.au 16
Slide 17: Low Risk, Low-Cost Oxide Open Pits in First 12 Months
Low Risk, Low-Cost Oxide Open Pits in First 12 Months Underground mining to commence following stage 1 open pits. • Stage 1 open pit mining commencing Stage 1 – $2,350/oz pit shells 1 March 2025. • 360koz @ 1.4g/t Au open pit Mineral Resource (86% M&I). • No prior mining, averages ~1,600oz per verti
Slide 18: Further Drilling Below Turnberry Open Pits Expected 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 19: 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). • Mining stopped in 2017 at ~A$1,550/oz gold price. Work setting up services to re-access the underground mine is underway now. • FS2.0 outline
Slide 20: Andy Well Underground
Andy Well Underground Rapid 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 existing dev
Slide 21: 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 22: Looking Forward Through FY26
Looking Forward Through FY26 Progress versus plan. FY25 FY26 Q1 Q2 Q3 Q4 Q1 Q2 Studies FS2.0 Updated Feasibility Study Open pit grade control drilling Drilling Turnberry growth drilling targeting UG extensions Andy Well growth drilling from UG drill platforms Village and support infrastructure insta
Slide 23: Contact
Contact Tim Davidson | Managing Director +61 8 6388 2700 info@meekametals.com.au ASX:MEK meekametals.com.au