Coda Minerals Ltd · ASX:COD
Coda Minerals — Investor Presentation (September 2025)
29 slides from Coda Minerals's investor presentation, Sep 8, 2025
Slide 1: Coda Minerals Entitlement Offer Presentation
For personal use only ASX COD Coda Minerals Investor Presentation Entitlement Offer Presentation September 2025
Slide 2: Important Notices
ASX COD Important Notices Nature of this document: The purpose of this presentation is to provide general information about Coda Minerals Limited (ACN 625 763 957) (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and esti
Slide 3: Coda Minerals at a glance
SOUTH AUSTRALIA OLYMPIC DAM OAK DAM WEST STAGE ELIZABETH CARRAPATEENA Scoping Study Phase CREEK NPV7 (Pre-Tax) :1.3B & IRR: 39% For personal use only TEAM PORT AUGUSTA Experienced Board >17 Project Experience LOCATION South Australia Supportive jurisdiction, low sovereign risk ADELAIDE SOLID FOUNDAT
Slide 4: Corporate, Board and Senior Management
ASX COD CORPORATE BOARD OF DIRECTORS COD $35M Paul Hallam Keith Jones ASX Code Market Capitalisation NON-EXECUTIVE CHAIR NON-EXECUTIVE DIRECTOR For personal use only 3 September 2025 $0.14 $3.96M Share Price Cash and Equivalents 3 September 2025 30 June 2025 250M Robin Marshall Chris Stevens NON-EXE
Slide 5: Entitlements Issue Framework
ASX COD ENTITLEMENTS ISSUE FRAMEWORK • Coda is undertaking a Non-Renounceable entitlements issue offer on the basis of one (1) for every three (3) shares at the issue price of 10c per New Share to raise approximately $8.33m. For personal use only • Funds will primarily be applied to progressing the
Slide 6: Non-Renounceable Entitlements Issue, Timetable & Use of Funds
ASX COD NON-RENOUNCEABLE ENTITLEMENTS ISSUE, TIMETABLE & USE OF FUNDS Key Terms Details Indicative Offer Timetable* Date For personal use only Funds $8.33m Record Date Thursday, 18 September 2025 Opening Date Tuesday, 23 September 2025 Issue Price 10 cents per share Closing Date Thursday, 16 October
Slide 7: Elizabeth Creek Copper Project
For personal use only Elizabeth Creek Copper Project
Slide 8: Elizabeth Creek location near BHP assets
ASX COD OLYMPIC DAM - BHP 114KM NN ROXBY DOWNS OAK DAM WEST - BHP For personal use only 16KM NE WOOMERA CARRAPATEENA - BHP CODA MINERALS 40KM EAST ELIZABETH CREEK Major Cu-Ag-Co Total Area: 701 km 2 Resource in an exceptional jurisdiction N PORT AUGUSTA SOUTH AUSTRALIA with massive upside 0 25 km 50
Slide 9: Coda's Copper Portfolio
ASX:COD ELIZABETH CREEK Total Area: 701 km2 EMMIE BLUFF CODA’S COPPER PORTFOLIO (FLAGSHIP) Underground 65.5Mt @ 1.6% CuEq Deposit For personal use only EMMIE DEEPS ~ 400m depth Iron Oxide Copper Gold (IOCG) Underground Deposit ~ 800m depth > 1 Million Tonnes of CuEq WINDABOUT Open Pit Deposit JORC R
Slide 10: We Have the Right Ingredients
WE HAVE THE RIGHT INGREDIENTS Location Geology For personal use only SA – Truly Tier 1 93% JORC Indicated $1.3B Environment NPV7 PRE-TAX Processing Advanced Approvals Innovative Flowsheet Mining Mine Plans – UG/OP For full details, please see ASX release New Flowsheet Delivers Significant Cu-Ag Econ
Slide 11: Technical & Project Economics
For personal use only Technical & Project Economics
Slide 12: Emmie Bluff Underground Mining
ASX:COD EMMIE BLUFF UNDERGROUND MINING 86% 13 Years 400m For personal use only Extraction Panel % Mine Life 31.81Mt @ 1.81% CuEq Emmie Bluff Production Target Mechanical Cutting with Pillar Recovery# Mining Method For full details on the Scoping Study, please see ASX release New Resources, Higher Re
Slide 13: Metallurgy Changes
ASX:COD METALLURGY CHANGES Float & Albion Whole Ore Leach* RECOVERY For personal use only 29 Cu 81.4% 94.8% + 13% in Cu Recovery + 19% in Ag Recovery 47 Ag 79.5% 98.2% in 4-Hour Leach FLOWSHEET FLOTATION WHOLE ORE LEACH CAPEX Reduction $74M CAPEX reduction from eliminating the flotation and CONCENTR
Slide 14: Base-case vs alternate flowsheet
JAW CRUSHER ROM MILLING BASE-CASE FLOWSHEET 1 4 ALTERNATE FLOWSHEET FLOAT & ALBION WHOLE ORE LEACH FLOWSHEET - FLOAT & ALBION FLOWSHEET - WHOLE ORE LEACH For personal use only PHASE ONE Removal of Flotation stage FLOTATION sees $74M CAPEX Reduction CONCENTRATE WHOLE ORE LEACH ALBION OXIDATIVE LEACH
Slide 15: Key Financial Metrics
ASX:COD KEY FINANCIAL METRICS NPV7 PRE-TAX NPV7 POST-TAX REVENUE COPPER SILVER (A$M) (A$M) (A$M) For personal use only $1,289M BASE $855M BASE $7,264M BASE 454Kt TOTAL PRODUCTION 20.3Moz TOTAL PRODUCTION $1,813M SPOT $1,230M SPOT $8,198M SPOT 31.4Ktpa STEADY STATE 1.4Mozpa STEADY STATE IRR PRE-TAX I
Slide 16: Cobalt Upside Opportunity
ASX:COD COBALT UPSIDE OPPORTUNITY Growing Demand Story, Critical Minerals Exposure For personal use only BASE CASE FLOWSHEET UPDATED FLOWSHEET Flotation and Albion Whole Ore Chloride Leach +85% RECOVERY TO CONCENTRATE • CURRENT PROJECT ECONOMICS ASSUMES ZERO COBALT REVENUE +93% RECOVERY VIA ALBION •
Slide 17: Shallow by Global Standards
SHALLOW BY GLOBAL STANDARDS For personal use only EMMIE BLUFF WILL BE MINED AT • SHALLOWER DEPTH • LARGER AVERAGE MINED THICKNESS; AND • LOWER THROUGHPUT THAN IS ACHIEVED AT SIMILAR DEPOSITS WORLDWIDE Upper Lower Average Avg Mined Project Nation Mining Mining Productivity Thickness Depth Depth (MTPA
Slide 18: Catalyst Rich Newsflow
CATALYST RICH NEWSFLOW Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Enhancing Resource Confidence For personal use only Drilling – Assay Results Resource Update Emmie Bluff Advancing Technical Studies Mining – Re-optimised Production Targets Cobalt Reintegration Metallurgy – Variability & Piloting to Con
Slide 19: What Is Coda's Spark?
SOUTH AUSTRALIA ASX:COD WHAT IS CODA’S SPARK? PROMINENT HILL INNOVATIVE OLYMPIC DAM For personal use only OAK DAM WEST Demonstrated value uplift through CARRAPATEENA technical excellence ELIZABETH CREEK PROJECT EXPERIENCED PORT AUGUSTA Board has exceptional track record of project development QUALIT
Slide 20: Appendices
For personal use only Appendices
Slide 21: Appendix A: Statements
APPENDIX A: STATEMENTS Mineral Resources Mineral Resources and Exploration Targets For personal use only 1. MG14 Indicated Mineral Resource: The information is extracted from the report entitled "Confirmation Statements JORC" created on 26th October 2020 and is available to view at: https://cdn-api.
Slide 22: Appendix A: Competent Person Statement
APPENDIX A: STATEMENTS Competent Person Statement Competent Person Statement for JORC 2012 Mineral Resources - MG14 & Windabout For personal use only This report was prepared in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Slide 23: Appendix B: Mineral Resources
APPENDIX B: MINERAL RESOURCES Aggregated Mineral Resources at Elizabeth Creek OPEN PIT Proposed Tonnage Cut-off Copper Cobalt Silver Zinc Copper Equivalent For personal use only Resource Category Type Mining Mt Grade Grade Contained Grade Contained Grade Contained Grade Contained Grade Contained Met
Slide 24: Appendix C: Metal Equivalent Calculations
APPENDIX C: METAL EQUIVALENT CALCULATIONS Statement Regarding Metal Equivalent Calculations Metal Equivalent grades are quoted for one or more of the Emmie Bluff, Windabout and MG14 Mineral Resources, or for exploration results considered by the company to be related directly to one of these Miner a
Slide 25: Appendix C: Metal Equivalent Calculations (continued)
APPENDIX C: METAL EQUIVALENT CALCULATIONS Statement Regarding Metal Equivalent Calculations (continued) The calculation of this metal equivalent is based on the following assumptions: For personal use only Metal Mining Dilution % Recovery % Payability % Forecast Price Price Unit Recovery % Copper 0.
Slide 26: Appendix D: Statements & References
APPENDIX D: STATEMENTS & REFERENCES Production Targets – Listing Rule 5.19.2 For personal use only In relation to any Production Target or any forecast financial information based on any Production Target quoted or referenced in this announcement, the Company confirms that all material assumptions u
Slide 27: Appendix E: Board of Directors & Senior Management
APPENDIX E : BOARD OF DIRECTORS & SENIOR MANAGEMENT Keith Jones Susan Park NON-EXECUTIVE CHAIR COMPANY SECRETARY For personal use only Chartered Accountant and senior mining industry leader with over 40 years of Over 25 years’ experience in the corporate finance industry and extensive corporate advi
Slide 28: Appendix F: Comparable Underground Copper Projects Data
APPENDIX F : COMPARABLE UNDERGROUND COPPER PROJECTS DATA Avg Mining Other Mine Name Company Project Status Location Thickness Depth Source Thickness Sources For personal use only Lubin KGHM Operating Poland 1.5-5.5m 2.8m 368-1006m https://kghm.com/sites/kghm2014/files/mrmr_english.pdf Polkowice- KGH
Slide 29: For personal use only
For personal use only 6 Altona Street West Perth WA 6005 08 6270 6331 info@codaminerals.com
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