Investigator Silver Limited · ASX:IVR
Investigator Silver — Investigator Resources — Noosa Mining Conference 2025
18 slides from Investigator Silver's conference presentation, Jul 23, 2025
Slide 1: Noosa Mining Conference Presentation
ASX: IVR ASX ANNOUNCEMENT 23 July 2025 Noosa Mining Conference Presentation Investigator Resources Limited’s Managing Director Lachlan Wallace will be presenting at the Noosa Mining Conference this afternoon. Please refer to the attached presentation. Mr Wallace will be presenting at 2.30pm (AEST).
Slide 2: Thinking Silver? Think Investigator
For personal use only July 2025 Thinking Silver? Think Investigator
Slide 3: Important Information
Important Information Disclaimer The information in this presentation is published to inform you about Investigator Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that
Slide 4: Why Silver? Why Investigator?
Why Silver? Why Investigator? Silver’s Moment: Dual role as industrial metal and store of wealth—demand is rising, supply is tight. For personal use only Paris Advantage: Tier-1 grade, low-cost, high-margin silver project in a top jurisdiction. Price Leverage: Rising silver prices expand the pit, bo
Slide 5: Silver outperforms gold in bull runs
Silver outperforms gold in bull runs 1971-1980 1999-2011 Since 2022 For personal use only As usual, gold has run hard early, but silver is gaining momentum, up ~30% this year alone 4
Slide 6: Dual role of silver
Dual role of silver Monetary Metal Global PV Silver Demand Traditional store of wealth For personal use only Industrial Metal Highest electrically conductive metal • Circuit boards, semiconductors • Photo voltaic (PV) – every solar panel needs ~1oz Ag • Electric vehicles (EV) contain ~2oz Ag BNEF, M
Slide 7: Only a quarter of silver comes from primary silver mines
Only a quarter of silver comes from primary silver mines Other, 0.5% Gold, 30% 15.5% Mexico For personal use only Primary Silver, 25% 27.8% % Global Production 20% China Peru 15% 10% Chile Copper, 26.8% 5% Russia U.S. Bolivia Australia 0% Silver Institute Lead/Zinc, World Silver Survey 2025 0 20 40
Slide 8: Silver deficit forecast to continue
Silver deficit forecast to continue Silver Market Balance (Moz) Gold : Silver Ratio 100 For personal use only Surplus 50 Silver historically cheap 0 -50 Deficit -100 Silver historically expensive -150 -200 -250 Silver is relatively cheap in historical terms. A reversion to the mean would see silver
Slide 9: Inflation hedge
Inflation hedge US Debt projected to rise. And its already started… For personal use only Money printing continues to pay debt and stimulate the economy. Central banks are buying gold as a strategic move to diversify their reserves, and protect against economic and geopolitical risks. Inflation erod
Slide 10: Silver focused business in Tier 1 jurisdiction
Silver focused business in Tier 1 jurisdiction Paris Silver Project • Australia’s highest grade primary Silver project For personal use only • 57Moz Silver + 99kt Lead - JORC (2012) Resource #1 • PFS completed 2021 • Resource updated July 2023 • DFS in progress Athena Earn-in • Silver anomaly 11km a
Slide 11: Corporate Snapshot
Corporate Snapshot $0.06 $40.00 Capital For personal use only Shares on issue 1,733 M Listed Options (4.2c, exp Mar 2028) 467 M $0.05 Share Price #1 2.8c $35.00 Market Cap $48.5M Cash (30 June 2025 - unaudited) $5.1M $0.04 Enterprise Value $43.4M $30.00 Share Register – 30 June 2025 $0.03 Top 20 30%
Slide 12: Paris Silver - strong project economics
Paris Silver - strong project economics#1 IRR For personal use only Free Cash NPV8 A$487 M A$202 M 48% Production Capex ASIC 26.7 Moz A$131 M A$17.45/oz #1 - Paris PFS - ASX Announcement 30 Nov 2021 Since this study, silver price has increased > 70% 11
Slide 13: Pathway to production
Pathway to production DFS underway Metallurgical optimisation For personal use only • Crush, grind and Lead recovery test work PFS • Final Silver leach studies – incl tails & detox DFS Hydrological study – pit & process water Environmental survey Price provides opportunity to increase silver product
Slide 14: District-Scale Discovery
District-Scale Discovery APOLLO ARES PARIS For personal use only PERSEUS MANTO Apollo (5km from Paris) • 8m @ 1,262g/t Ag from 149m #1 • Mineralogically identical to Paris ATHENA Perseus (2km from Paris) Paris • 1m @ 71g/t Ag & 0.6% Pb from 38m (PLAC161) #2 Silver • 9m @ 21g/t Ag from 114m (PPRC907)
Slide 15: District-Scale Discovery: Athena farm-in
District-Scale Discovery APOLLO ARES Farm-In Agreement on adjacent high grade silver prospect #1 PARIS For personal use only PERSEUS 2012 drilling at Athena focussed on iron ore, not silver. MANTO 2013, with ongoing success at Paris, selected intervals were ATHENA re-assayed for silver, returning mu
Slide 16: Curnamona – Cu/Au
Curnamona – Cu/Au Historical gold and copper mining For personal use only Coincident magnetics, gravity, IP and soil anomaly Drilling commences Sep-2025 Band pass filtered gravity data, with new IP traverses shown in pink. Inset: Regional historic RTP 1VD magnetic intensity image, showing large magn
Slide 17: Why Silver? Why Investigator?
Why Silver? Why Investigator? High-grade project in a Tier-1 location For personal use only Rising silver prices have the potential to transform already strong project economics DFS is targeting that upside — expanding the pit and bringing more silver into the mine plan A 15km silver district is eme
Slide 18: Lachlan Wallace, Managing Director
For personal use only Lachlan Wallace, Managing Director 47 King Street, Norwood SA 5067 Thinking Silver? Think Investigator. +61 (0) 8 7325 2222 lwallace@investres.com.au www.investres.com.au 17
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